VYNE Therapeutics (VYNE) 10-K 14 Mar 23 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Mar. 01, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38356
Entity Registrant Name	VYNE THERAPEUTICS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3757789
Entity Address, Address Line One	685 Route 202/206 N, Suite
Entity Address, City or Town	Bridgewater
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08807
City Area Code	800
Local Phone Number	775-7936
Title of 12(b) Security	Common Stock, par value $0.0001
Trading Symbol	VYNE
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 22.3
Entity Common Stock, Shares Outstanding		3,264,272
Documents Incorporated by Reference	None.
Amendment Flag	false
Entity Central Index Key	0001566044
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	Baker Tilly US, LLP	PricewaterhouseCoopers LLP
Auditor Location	Tewksbury, Massachusetts	Florham Park, New Jersey
Auditor Firm ID	23	238

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 30,908	$ 42,250
Restricted cash	67	605
Trade receivable, net of allowances	173	7,583
Amount due from sale of MST Franchise	5,000	0
Prepaid and other expenses	2,127	4,565
Operating lease right of use assets (Note 7)	0	338
Discontinued operations - current assets (Note 4)	0	7,845
Total Current Assets	38,275	63,186
Property and equipment, net (Note 5)	0	354
Non-current prepaid expenses and other assets	2,483	3,506
Total Assets	40,758	67,046
Current Liabilities:
Trade payables	2,386	6,510
Accrued expenses (Note 6)	4,381	8,593
Employee-related obligations	2,372	2,752
Liability for employee severance benefits	206	206
Operating lease liabilities (Note 7)	0	349
Total Liabilities	9,345	18,410
Commitments and Contingencies (Note 9)
Mezzanine Equity:
Convertible Preferred Stock: $0.0001 par value; 20,000,000 and 0 shares authorized at December 31, 2022 and December 31, 2021, respectively; Series A Preferred Stock: 3,000 and 0 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively (Note 11)	211	0
Shareholders' Equity:
Common stock: $0.0001 par value; 150,000,000 shares and 150,000,000 shares authorized at December 31, 2022 and December 31, 2021, respectively; 3,229,704 and 2,976,541 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively	0	5
Additional paid-in capital	693,937	688,156
Accumulated deficit	(662,735)	(639,525)
Total Shareholders' Equity	31,202	48,636
Total Liabilities, Mezzanine Equity and Shareholders’ Equity	$ 40,758	$ 67,046

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	20,000,000	0
Preferred stock, shares outstanding (in shares)	3,000	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	150,000,000	75,000,000
Common stock, shares issued (in shares)	3,229,704	2,976,541
Common stock, shares outstanding (in shares)	3,229,704	2,976,541
Series A Preferred Stock
Preferred stock, shares issued (in shares)	3,000	0
Preferred stock, shares outstanding (in shares)	3,000	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total Revenues	$ 477,000	$ 931,000
Operating Expenses:
Research and development	18,385,000	19,543,000
Selling, general and administrative	16,387,000	20,299,000
Total Operating Expenses	34,772,000	39,842,000
Operating Loss	(34,295,000)	(38,911,000)
Interest expense	0	(5,610,000)
Other income (expense), net	363,000	(135,000)
Loss from continuing operations before income taxes	(33,932,000)	(44,656,000)
Income tax expense (benefit)	13,000	(448,000)
Loss from continuing operations	(33,945,000)	(44,208,000)
Income (loss) from discontinued operations, net of income taxes	10,735,000	(29,121,000)
Net Loss	$ (23,210,000)	$ (73,329,000)
Loss per share from continuing operations, basic (in dollars per share)	$ (10.65)	$ (15.46)
Loss per share from continuing operations, diluted (in dollars per share)	(10.65)	(15.46)
(Loss) income per share from discontinuing operations, basic (in dollars per share)	3.37	(10.18)
(loss) income per share from discontinuing operations, diluted (in dollars per share)	3.37	(10.18)
Loss per share basic (in dollars per share)	(7.28)	(25.64)
Loss per share diluted (in dollars per share)	$ (7.28)	$ (25.64)
Weighted average shares outstanding - basic (in shares)	3,186	2,859
Weighted average shares outstanding - diluted (in shares)	3,186	2,859
Royalty revenues
Total Revenues	$ 477,000	$ 931,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	At-the-market Offering	Common stock	Common stock At-the-market Offering	Additional paid-in capital	Additional paid-in capital At-the-market Offering	Accumulated deficit
Beginning balance (in shares) at Dec. 31, 2020	0
Beginning balance at Dec. 31, 2020	$ 0
Ending balance (in shares) at Dec. 31, 2021	0
Ending balance at Dec. 31, 2021	$ 0
Beginning balance (shares) at Dec. 31, 2020			2,400,290
Beginning balance at Dec. 31, 2020	37,493		$ 4		$ 603,685		$ (566,196)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(73,329)						(73,329)
Exercise of options, vesting of restricted stock units and shares under employee stock purchase plan (in shares)			20,274
Exercise of options, vesting of restricted stock units and shares issued under employee stock purchase plan	410				410
Stock-based compensation	8,080				8,080
Issuance of common stock, net of issuance costs (in shares)			293,015	262,962
Issuance of common stock, net of issuance costs	$ 46,824	$ 29,158	$ 1		46,823	$ 29,158
Ending balance (shares) at Dec. 31, 2021	2,976,541		2,976,541
Ending balance at Dec. 31, 2021	$ 48,636		$ 5		688,156		(639,525)
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of convertible preferred stock, net of issuance costs (in shares)	3,000
Issuance of convertible preferred stock, net of issuance costs	$ 211
Ending balance (in shares) at Dec. 31, 2022	3,000
Ending balance at Dec. 31, 2022	$ 211
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(23,210)						(23,210)
Reclassification due to reverse stock split			$ (5)		5
Exercise of options, vesting of restricted stock units and shares under employee stock purchase plan (in shares)			16,749
Exercise of options, vesting of restricted stock units and shares issued under employee stock purchase plan	9				9
Stock-based compensation	$ 4,297				4,297
Issuance of common stock, net of issuance costs (in shares)				143,770
Issuance of common stock, net of issuance costs		$ 1,470				$ 1,470
Issuance of commitment shares (in shares)			92,644
Ending balance (shares) at Dec. 31, 2022	3,229,704		3,229,704
Ending balance at Dec. 31, 2022	$ 31,202		$ 0		$ 693,937		$ (662,735)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Payments of stock issuance costs		$ 3,177
Convertible Preferred Stock
Payments of stock issuance costs	$ 89
At-the-market Offering
Payments of stock issuance costs	$ 135	$ 1,038

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash Flows From Operating Activities:
Net Loss	$ (23,210)	$ (73,329)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	72	109
Stock-based compensation	4,297	8,080
Non-cash finance expense, net	0	2,472
Loss from sale and disposal of fixed assets	282	93
Debt prepayment premium	0	1,432
Gain on the sale of the MST Franchise	(12,918)	0
Changes in operating asset and liabilities:
Decrease in trade receivables, prepaid and other assets	11,210	7,709
Decrease in inventory	97	113
Decrease in other non-current assets	0	841
Decrease in trade payables, accrued expenses and employee related obligations and severance benefits	(8,681)	(2,675)
Decrease in operating lease liabilities	(349)	(1,212)
Net cash used in operating activities	(29,200)	(56,367)
Cash Flows From Investing Activities:
Proceeds from sale of franchises	15,667	0
Proceeds from sale and maturity of marketable securities and bank deposits	0	1,027
Net cash provided by investing activities	15,667	1,027
Cash Flows From Financing Activities:
Proceeds related to the issuance of common shares through offerings, net of issuance costs	1,470	75,981
Debt repayment	0	(36,432)
(Withholdings) proceeds from exercise of options and issuance of shares for stock-based compensation arrangements, net	(28)
(Withholdings) proceeds from exercise of options and issuance of shares for stock-based compensation arrangements, net		522
Withholding tax from net exercise of restricted share units	0	(294)
Proceeds related to issuance of convertible preferred stock, net of issuance costs	211	0
Net cash provided by financing activities	1,653	39,777
Decrease in cash, cash equivalents and restricted cash	(11,880)	(15,563)
Cash, cash equivalents and restricted cash at beginning of the year	42,855	58,418
Cash, cash equivalents and restricted cash at end of the year	30,975	42,855
Cash and cash equivalents	30,908	42,250
Restricted cash	67	605
Total cash, cash equivalents and restricted cash shown in statement of cash flows	30,975	42,855
Supplementary information on investing and financing activities not involving cash flows:
Issuance of shares under employee share purchase plan	37	169
Amount due from sale of MST Franchise	5,000	0
Supplemental disclosure of cash flow information:
Interest received	446	17
Interest paid	$ 0	$ 2,385

NATURE OF OPERATIONS

NATURE OF OPERATIONS	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Company Overview VYNE Therapeutics Inc. (the "Company") is a clinical-stage biopharmaceutical company focused on developing proprietary, innovative and differentiated therapies for the treatment of immuno-inflammatory conditions. In August 2021, the Company entered into a transaction with Tay Therapeutics Ltd. (formerly known as In4Derm Limited, "Tay") providing the Company with exclusive worldwide rights to research, develop and commercialize products containing bromodomain and extra-terminal (“BET”) inhibitors for the treatment of any disease, disorder or condition in humans. Through our access to this library of new chemical BET inhibitor compounds, the Company plans to develop product candidates for a diverse set of indications. Based on preclinical data generated to date, the Company has chosen to focus its initial efforts for this platform on select therapeutic areas in immuno-inflammatory disease. The Company's lead program is VYN201, a locally administered pan-BET inhibitor designed as a “soft” drug to address diseases involving multiple, diverse inflammatory cell signaling pathways while providing low systemic exposure. To date, VYN201 has produced consistent reductions in pro-inflammatory and disease-related biomarkers, improvements in disease severity and a demonstrated local activity through several preclinical models. The Company believes that these data suggest potential broad utility for VYN201 across multiple routes of administration. In November 2022, the Company initiated a Phase 1a/b clinical trial evaluating a topical formulation of VYN201 for the treatment of nonsegmental vitiligo. In February 2023, the Company announced positive preliminary safety data from the Phase 1a portion of the trial. The first nonsegmental vitiligo patient was dosed in the Phase 1b portion of the trial in January 2023 and the Company expects topline results from this trial in mid-2023. The Company's second program is VYN202, a BD2-selective oral small molecule BET inhibitor. VYN202 is in preclinical development for the treatment of immuno-inflammatory indications, and is being designed to achieve class-leading selectivity (BD2 vs. BD1), maximum potency versus BD2 and optimal oral bioavailability. By maximizing BD2 selectivity, the Company believes VYN202 has the potential to be a more conveniently-administered non-biologic treatment option for both acute control and chronic management of immuno-inflammatory indications, where the damaging effects of unrestricted inflammatory signaling activity is common. The Company intends to actively evaluate and enter into strategic partnerships to advance its product candidates through the clinic toward commercialization, and may also partner with leading pharmaceutical companies to advance the Company's molecules in therapeutic areas outside of its core focus in immunology. The Company believes selectively entering into collaborations has the potential to expand and accelerate the development of its programs and maximize the value of its pipeline. In August 2021, the Company determined to dispose of its legacy commercial business and focus its strategy on the development of BET inhibitor product candidates through its licensing arrangements with Tay. For additional information regarding the sale of the commercial business to Journey Medical Corporation in January 2022 and the Company's licensing arrangements with Tay, see "—Note 3 - Strategic Agreements." The Company is a Delaware corporation, has its principal executive offices in Bridgewater, New Jersey and operates as one business segment. Reverse stock split and recasting of per-share amounts On February 10, 2021, the Company's board of directors approved a one-for-four reverse stock split of its outstanding shares of common stock. The reverse stock split was effected on February 12, 2021 at 5:00 p.m. Eastern time. At the effective time, every four issued and outstanding shares of the Company's common stock were converted into one share of common stock. No fractional shares were issued in connection with the reverse stock split, and in lieu thereof, each stockholder holding fractional shares was entitled to receive a cash payment (without interest or deduction) from the Company’s transfer agent in an amount equal to such stockholder’s respective pro rata shares of the total net proceeds from the Company’s transfer agent sale of all fractional shares at the then-prevailing prices on the open market. In connection with the reverse stock split, the number of authorized shares of the Company's common stock was also reduced on a one-for-four basis, from 300 million shares to 75 million shares. The par value of each share of common stock remained unchanged. A proportionate adjustment was also made to the maximum number of shares issuable under the Company’s 2019 Equity Incentive Plan, 2018 Omnibus Incentive Plan and 2019 Employee Share Purchase Plan. None of the authorized shares were impacted by the reverse stock split. On July 19, 2021, the Company held its meeting of Stockholders (the "Annual Meeting"). Following the approval by the holders of a majority of the outstanding shares of common stock at the Annual Meeting, the Company filed a Certificate of Amended and Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 75,000,000 to 150,000,000 shares of common stock, par value $0.0001 per share. On February 8, 2023, the Company's board of directors approved a 1-for-18 reverse stock split of its outstanding shares of common stock. The reverse stock split was effected on February 10, 2023 at 5:01 p.m. Eastern time. At the effective time, every 18 issued and outstanding shares of the Company's common stock were converted into one share of common stock. No fractional shares were issued in connection with the reverse stock split, and in lieu thereof, each stockholder holding fractional shares was entitled to receive a cash payment (without interest or deduction) from the Company’s transfer agent in an amount equal to such stockholder’s respective pro rata shares of the total net proceeds from the Company’s transfer agent sale of all fractional shares at the then-prevailing prices on the open market. A proportionate adjustment was also made to the maximum number of shares issuable under the Company’s 2019 Equity Incentive Plan, 2018 Omnibus Incentive Plan and 2019 Employee Share Purchase Plan. The number of authorized shares of the Company's common stock and the par value of each share of common stock remained unchanged. Unless noted, all common shares and per share amounts contained in the consolidated financial statements have been retroactively adjusted to reflect a 1-for-18 reverse stock split. Liquidity and Capital Resources Since inception, the Company has funded operations primarily through private and public placements of its equity, debt and warrants and through fees, cost reimbursements and payments received from its licensees. The Company commenced generating product revenues related to sales of AMZEEQ and ZILXI in January 2020 and October 2020, respectively. AMZEEQ and ZILXI were sold as part of the sale of the MST Franchise on January 12, 2022 and, as such, the Company no longer generates revenue from the sale of these products. The Company has incurred losses and experienced negative operating cash flows since its inception and anticipates that it will continue to incur losses until such a time when its product candidates, if approved, are commercially successful, if at all. The Company will not generate any revenue from any current or future product candidates unless and until it obtains regulatory approval and commercializes such products. For the year ended December 31, 2022, the Company incurred a net loss of $23.2 million and used $29.2 million of cash in operations. The net loss was comprised of $10.7 million of income from discontinued operations and $33.9 million loss from continuing operations. As of December 31, 2022, the Company had cash and cash equivalents, and restricted cash of $31.0 million and an accumulated deficit of $662.7 million. The Company received the $5.0 million deferred payment from Journey on January 12, 2023, the one-year anniversary of the sale of the MST Franchise. The Company had no outstanding debt as of December 31, 2022. The Company has taken a number of actions to support its operations and meet its liquidity needs. Beginning in the second quarter of 2021, the Company conducted a review of its commercial and research and development portfolio to determine how to optimally deploy capital and drive shareholder value. Following its review, the Company initiated a process to explore a possible sale or license of its MST Franchise, including AMZEEQ, ZILXI, FCD105 and the underlying MST platform and refocus its resources on its immuno-inflammatory development programs. As a result of this decision, the Company restructured its operations and reduced its workforce, which lowered operating costs. In January 2022, the Company sold its MST Franchise. In March 2022, the Company entered into an equity purchase agreement (the “Equity Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”) which provides that, upon the terms and subject to the conditions and limitations set forth therein, the Company may sell to Lincoln Park up to $30.0 million of shares of its common stock over the 36-month term of the Equity Purchase Agreement. The Company has not made any sales pursuant to the Equity Purchase Agreement to date. As described above, the Company refocused its limited resources on its immuno-inflammatory pipeline. Continued research and development activities for these programs, including preclinical and clinical testing of the Company's product candidates, will require significant additional financing. The future viability of the Company and its ability to continue as a going concern is dependent on its ability to raise sufficient working capital through either debt or equity financings to fund its operations and successfully develop commercially viable product candidates. There is no assurance the Company will be able to achieve these objectives under acceptable terms or at all. In accordance with Accounting Standards Update (“ASU”) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year after the date that its consolidated financial statements are issued. The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern and contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. The Company's ability to continue as a going concern is expected to be impacted by the outcome of the plans outlined above, including the Company's ability to raise additional capital to fund its operations and the development and results from clinical trials for the BET inhibitor programs. Based on its current plans and assumptions, the Company believes that absent sufficient proceeds received from financing transactions or business development transactions, the Company will not have sufficient cash and cash equivalents to fund its operations beyond one year from the issuance of these consolidated financial statements. This assumption does not include proceeds that can be drawn from Lincoln Park. Accordingly, the Company will, over the course of the next twelve months, require significant additional financing to continue its operations and meaningfully advance the development of its product candidates, including potentially selling a significant amount of shares pursuant to the Equity Purchase Agreement. The Company may also employ strategies to further extend its ability to fund its operations including: (1) identification of third-party partners to further develop, obtain marketing approval for and/or commercialize its product candidates, which may generate revenue and/or milestone payments and/or (2) refocusing its resources on research and development programs it chooses to prioritize and reducing spending on other programs by delaying or discontinuing development. In addition, the amount of proceeds the Company may be able to raise pursuant to its existing shelf registration statement on Form S-3 may be limited. As of the filing of this Annual Report on Form 10-K, the Company is subject to the general instructions of Form S-3 known as the "baby shelf rules." Under these instructions, the amount of funds the Company can raise through primary public offerings of securities in any 12-month period using its registration statement on Form S-3 is limited to one-third of the aggregate market value of the shares of its common stock held by non-affiliates of the Company. Therefore, the Company will be limited in the amount of proceeds it is able to raise by selling shares of its common stock using its Form S-3 until such time as its public float exceeds $75.0 million. These factors raise substantial doubt about the Company's ability to continue as a going concern. Failure to successfully receive additional financing will require the Company to delay, scale back or otherwise modify its business and its research and development activities and other operations. The accompanying consolidated financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES: a. Basis of presentation The Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). b. Principles of consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation. c. Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Significant items subject to such estimates and assumptions include revenue recognition and product returns accrual. Actual results could differ from the Company’s estimates. The COVID-19 pandemic and government measures taken in response to the pandemic have had a negative impact on the Company's operations in 2021. Access to healthcare providers was limited, which has negatively impacted sales and the Company's ability to execute its commercial strategy with respect to AMZEEQ and ZILXI prior to the sale of the assets to Journey in January 2022. In addition, the Company further assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of December 31, 2022 and through the date of this report. d. Foreign Currency Translation Transactions and balances originally denominated in dollars are presented at their original amounts. Balances in non-dollar currencies are translated into dollars using historical and current exchange rates for non-monetary and monetary balances, respectively. For non-dollar transactions and other items in the statements of operations (indicated below), the following exchange rates are used: (i) for transactions - exchange rates at transaction dates or average rates; and (ii) for other items (derived from non-monetary balance sheet items such as depreciation and amortization, etc.) - historical exchange rates. Currency transaction gains and losses are presented in financial income or expenses, as appropriate. e. Cash and cash equivalents The Company considers as cash equivalents all short-term, highly liquid investments, which include short-term bank deposits and money market funds with original maturities of three months or less from the date of purchase that are not restricted as to withdrawal or use and are readily convertible to known amounts of cash. As of December 31, 2022 and December 31, 2021, the Company had approximately $28.0 million and $29.5 million, respectively, of cash equivalents classified as Level 1 financial instruments. f. Restricted Cash As of December 31, 2022, the Company had restricted cash of $0.1 million. This amount represents bank guarantees for the Company's Israeli branch. g. Marketable securities The Company's marketable equity securities are recorded at fair value, with unrealized gains and losses included in other income, net in the consolidated statement of operations. h. Inventory As of December 31, 2021 and January 12, 2022, the date the inventory was sold as part of the sale of the MST Franchise, inventories were stated at the lower of cost and net realizable value with cost determined on a first-in, first-out basis by product. The Company capitalized inventory costs associated with products following regulatory approval when future commercialization was considered probable and the future economic benefit was expected to be realized. The Company periodically reviewed its inventory levels and, if necessary, wrote down inventory that was expected to expire prior to being sold, inventory in excess of expected sales requirements and inventory that failed to meet commercial sale specifications, with a corresponding charge to cost of goods sold. There were no material write-downs for the year ended December 31, 2021 and for the period from December 31, 2021 to January 12, 2022. As a result of the sale of the MST Franchise there were no inventory balances at December 31, 2022. i. Property and equipment 1) Property and equipment are stated at cost, net of accumulated depreciation and amortization. 2) The Company’s property and equipment are depreciated by the straight-line method on the basis of their estimated useful life. Annual rates of depreciation are as follows: Estimated Useful Life Computers 3 - 7 years Laboratory equipment 5 - 14 years Office furniture and equipment 7 - 14 years Leasehold improvements are amortized by the straight-line method over the expected lease term, which is shorter than the estimated useful life of the improvements. j. Impairment of long-lived assets The Company tests long-lived assets for impairment whenever events or circumstances present an indication of impairment. If the sum of expected future cash flows (undiscounted and without interest charges) of the assets is less than the carrying amount of such assets, an impairment loss would be recognized. The assets would be written down to their estimated fair values, calculated based on the present value of expected future cash flows (discounted cash flows), or some other fair value measure. k. Allowance for doubtful accounts An allowance for doubtful accounts is maintained for potential credit losses based on the aging of trade receivables, historical bad debts experience and changes in customer payment patterns. Trade receivable balances are written off against the allowance when it is deemed probable that the receivable will not be collected. Trade receivables, net are stated net of reserves for certain sales allowances and provisions for doubtful accounts. Provisions for doubtful accounts were not material for the years ended December 31, 2022 and 2021. l. Debt Debt discounts created as a result of the allocation of proceeds received from a debt issuance to warrants issued are amortized to interest expense under the effective interest method over the life of the recognized debt liability. Debt issuance costs include the costs of debt financings undertaken by the Company, including legal fees and other direct costs of the financing. Debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheet as a direct deduction from the carrying amount of the debt liability and are amortized to interest expense over the term of the related debt, using the effective interest method. m. Leases The Company's lease portfolio mainly consists of office space. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Operating lease assets represent the Company’s right to use an underlying asset for the lease term whereas lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. Operating lease expense is recognized on a straight-line basis over the expected lease term. n. Contingencies Certain conditions may exist as of the date of the consolidated financial statements, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. Management applies the guidance in ASC 450-20-25 when assessing losses resulting from contingencies. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability is recorded as accrued expenses in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material are disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantees are disclosed. o. Share-based compensation The Company accounts for employees’ and directors’ share-based payment awards classified as equity awards using the grant-date fair value method. The fair value of share-based payment transactions is recognized as an expense over the requisite service period using the straight-line method. Forfeitures are recognized as they occur. Share-based payments related to the employee share purchase plan (“ESPP”) are recognized based on the fair value of each award estimated on the first day of the offering period and recognized as an expense over the offering period using the straight-line method. The Company elected to recognize compensation costs for awards conditioned only on continued service that have a graded vesting schedule using the straight-line method. p. Revenue recognition The Company accounts for its revenue transactions under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers. In accordance with ASC Topic 606, the Company recognizes revenues when its customers obtain control of its product for an amount that reflects the consideration it expects to receive from its customers in exchange for that product. To determine revenue recognition for contracts that are determined to be in scope of ASC Topic 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once the contract is determined to be within the scope of ASC Topic 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when such performance obligation is satisfied. As a result of the disposition of the MST Franchise in January 2022, the Company no longer has any revenue generating products; however, it still receives certain royalty revenues (see Note 4 Discontinued Operations). Royalty Revenues and Collaboration Agreements The Company is entitled to royalty payments with respect to sales of a product developed by a customer in collaboration with the Company. Royalties are recognized as the products are sold by the customer. Revenues in the amount of $0.5 million and $0.9 million were recorded during the year ended December 31, 2022 and 2021, respectively. For collaboration agreements under ASC 606, the Company identifies the contract, identifies the performance obligations, determines the transaction price, allocates the contract transaction price to the performance obligations, and recognizes the revenue when (or as) the performance obligation is satisfied. The Company identifies the performance obligations included within the agreement and evaluate which performance obligations are distinct. Upfront payments for licenses are evaluated to determine if the license is capable of being distinct from the obligations to participate on certain development and/or commercialization committees with the collaboration partners and supply manufactured drug product for clinical trials. For performance obligations that are satisfied over time, the Company utilizes the input method and revenue is recognized by consistently applying a method of measuring progress toward complete satisfaction of that performance obligation. The Company periodically review our estimated periods of performance based on the progress under each arrangement and account for the impact of any changes in estimated periods of performance on a prospective basis. Milestone payments are a form of variable consideration as the payments are contingent upon achievement of a substantive event. Milestone payments are estimated and included in the transaction price when the Company determines that it is probable that there will not be a significant reversal of cumulative revenue recognized in future periods. Product Revenues, net The Company’s net product revenues were generated through sales of AMZEEQ, which was approved by the FDA in October 2019 and was commercially launched in the United States in January 2020, and ZILXI, which was approved by the FDA in May 2020 and was commercially launched in the United States in October 2020. The Company sold the MST Franchise on January 12, 2022 and, as such, the Company no longer generates revenue from the sale of these products. The following is a description of the Company's accounting policies related to the sales of AMZEEQ and ZILXI. Product sales The Company’s customers were a limited number of national and select regional wholesalers (the “distributors”) and certain independent and specialty pharmacies (together, the “customers”). These distributors would subsequently resell the product, primarily to retail pharmacies that dispense the product to patients. Net product revenue was typically recognized when customers obtained control of the Company’s products, which occurred at a point in time, typically upon delivery of product to the customers. The Company evaluated the creditworthiness of its customers to determine whether it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur. The Company did not assess whether a contract had a significant financing component if the expectation was such that the period between the transfer of the promised goods to the customer and the receipt of payment would be less than one year. Standard credit terms did not exceed 75 days. The Company expensed incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that would have been recognized is one year or less or the amount is immaterial. Shipping and handling costs related to the Company’s product sales were included in selling, general and administrative expenses. Product revenue is recorded net of distribution fees, trade discounts, allowances, rebates, copay program coupons, chargebacks, estimated returns and other incentives. These reserves are classified as either reductions of accounts receivable or as current liabilities. The estimates of reserves established for variable consideration reflect contractual and statutory requirements, known market events and trends, industry data and forecasted customer mix. The transaction price, which includes variable consideration reflecting the impact of discounts and allowances, may be subject to constraint and is included in the net product revenues only to the extent that it is probable that a significant reversal of the amount of the cumulative revenues recognized will not occur in a future period. Actual amounts may ultimately differ from these estimates. If actual results vary, estimates may be adjusted in the period such change in estimate becomes known, which could have an impact on earnings in the period of adjustment. Product Sales Provisions Provisions for distribution fees, trade discounts and chargebacks are reflected as a reduction to trade receivables, net on the consolidated balance sheet. All other provisions, including rebates, other discounts and return provisions are reflected as a liability within accrued expenses on the consolidated balance sheet. Provisions for revenue reserves reduced product revenues by $62.9 million for the year ended December 31, 2021. The revenue reserve accrual was $2.7 million and $5.5 million as of December 31, 2022 and December 31, 2021, respectively and was reflected in accrued expenses in the consolidated balance sheet. Actual amounts may ultimately differ from these estimates. If actual results vary, estimates may be adjusted in the period such change in estimate becomes known, which could have an impact on earnings in the period of adjustment. Distribution Fees and Trade Discounts and Allowances The Company paid fees for distribution services and for certain data that distributors provide to the Company and generally provided discounts on sales to its distributors for prompt payment. These fees and discounts are contractual in nature and the Company expects its distributors to earn these fees and discounts, and accordingly deducts the full amount of these fees and discounts from its gross product revenues at the time such revenues are recognized. Rebates, Chargebacks and Other Discounts Product sales made under managed-care and governmental pricing programs in the U.S. are subject to rebates. Managed Care rebates relate to contractual agreements to sell products to managed care organizations and pharmacy benefit managers at contractual rebate percentages in exchange for volume and/or market share. Chargebacks relate to contractual agreements to sell products to government agencies and other indirect customers at contractual prices that are lower than the list prices the Company charges wholesalers. When these government agencies or other indirect customers purchase products through wholesalers at these reduced prices, the wholesaler charges the Company for the difference between the prices they paid the Company and the prices at which they sold the products to the indirect customers. The Company estimates the rebates and chargebacks it expects to be obligated to provide and deducts these estimated amounts from its gross product revenue at the time the revenue is recognized. The Company estimates the rebates and chargebacks that it expects to be obligated to provide based upon (i) the Company's current contracts and negotiations, (ii) estimates regarding the payer mix based on third-party data and utilization, (iii) inventory held by distributors and (iv) estimates of inventory held at the retail channel. Other discounts include the Company’s co-pay assistance coupon programs for commercially-insured patients meeting certain eligibility requirements. The calculation of the accrual for co-pay assistance is based on an estimate of claims and the cost per claim that the Company expects to pay associated with product that has been recognized as revenue. Product Returns Consistent with industry practice, customers are generally allowed to return products within a specified period of time before and after its expiration date. The Company estimates the amount of product that will be returned and deducts these estimated amounts from its gross revenue at the time the revenue is recognized. T he information utilized to estimate the returns provision includes: (i) actual return history (ii) historical return industry information regarding rates for comparable pharmaceutical products and product portfolios , (iii) external data with respect to inventory levels in the wholesale distribution channel, (iv) external data with respect to prescription demand for products and (v) remaining shelf lives of products at the date of sale. Contract Assets and Contract Liabilities The Company did not have any contract assets (unbilled receivables) related to product sales or as of December 31, 2022, as customer invoicing generally occurs before or at the time of revenue recognition. The Company did not have any contract assets (unbilled receivables) related to its license revenues as of December 31, 2022 or 2021. The Company did not have any contract liabilities as of December 31, 2022 or 2021, as the Company did not receive payments in advance of fulfilling its performance obligations to its customers. Sales Commissions Sales commissions are generally attributed to periods shorter than one year and therefore are expensed when incurred. Sales commissions are included in discontinued operations. q. Collaboration arrangements The Company analyzes its collaboration arrangements to assess whether they are within the scope of ASC Topic 808, Collaborative Arrangements (ASC 808), to determine whether such arrangements involve joint operating activities performed by parties that are both active participants in the activities and exposed to significant risks and rewards that are dependent on the commercial success of such activities. To the extent the arrangement is within the scope of ASC 808, the Company will assess whether aspects of the arrangement between it and their collaboration partner are within the scope of other accounting literature. r. Research and development costs Research and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of clinical trials, clinical trial supplies, salaries, share-based compensation expenses, payroll taxes and other employee benefits, lab expenses, consumable equipment and consulting fees. All costs associated with research and developments are expensed as incurred. s. Income taxes: • Deferred taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is recognized to the extent that it is more likely than not that the deferred taxes will not be realized in the foreseeable future. Given the Company’s losses, the Company has provided a full valuation allowance with respect to its deferred tax assets. • Uncertainty in income tax The Company follows a two-step approach in recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates that it is more likely than not that the position will be sustained based on technical merits. If this threshold is met, the second step is to measure the tax position as the largest amount that has more than a 50% likelihood of being realized upon ultimate settlement. t. Loss per share Net loss per share, basic and diluted, is computed on the basis of the net loss from continuing operations for the period divided by the weighted average number of common shares outstanding during the period. Diluted net loss per share is based upon the weighted average number of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options and warrants which are included under the treasury share method when dilutive. The following stock options, restricted stock units (“RSUs”) and warrants were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (share data): Year ended December 31, 2022 2021 Outstanding share options and RSUs 313,403 294,797 Warrants 27,509 27,509 u. Fair value measurement Fair value is based on the price that would be received from the sale of an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data or active market data of similar or identical assets or liabilities. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value. v. Discontinued Operations The Company accounted for the sale of the MST Franchise in accordance with ASC 205, Discontinued Operations, and ASU No. 2014-08, Reporting of Discontinued Operations and Disclosures of Disposals of Components of an Entity . The Company followed the held-for-sale criteria as defined in ASC 360 Property, Plant and Equipment and ASC 205. ASC 205 requires that a component of an entity that has been disposed of or is classified as held for sale and has operations and cash flows that can be clearly distinguished from the rest of the entity be reported as assets held for sale and discontinued operations. In the period a component of an entity has been disposed of or classified as held for sale, the results of operations for the periods presented are reclassified into separate line items in the consolidated statements of operations. Assets and liabilities are also reclassified into separate line items on the related consolidated balance sheets for the periods presented. Non-cash items presented in the statement of cash flows and related to discontinued operations are presented in Note 4 - Discontinued Operations. ASU 2014-08 requires that only a disposal of a component of an entity, or a group of components of an entity, that represents a strategic shift that has, or will have, a major effect on the reporting entity’s operations and financial results be reported in the consolidated financial statements as discontinued operations. ASU 2014-08 also provides guidance on the financial statement presentations and disclosures of discontinued operations. Due to the sale of the MST Franchise during the first quarter of 2022, in accordance with ASC 205, the Company has classified the results of the MST Franchise as discontinued operations in its consolidated statements of operations and cash flows for all periods presented, see Note 4, Discontinued Operations. All disposed assets and liabilities associated with the MST Franchise were therefore classified as assets and liabilities of discontinued operations in the Company's consolidated balance sheets for the periods presented. All amounts included in the notes to the consolidated financial statements relate to continuing operations unless otherwise noted. w. Concentration of credit risks Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents, restricted cash, marketable securities and accounts receivables. The Company deposits cash and cash equivalents with highly rated financial institutions and, as a matter of policy, limits the amounts of credit exposure to any single financial institution. In addition, all marketable securities carry a high rating or are government insured. The Company has not experienced any material credit losses in these accounts and does not believe it is exposed to significant credit risk on these instruments. For the year ended December 31, 2022, the Company had other receivables of $5.2 million primarily relating to the deferred payment from the sale of the MST Franchise and royalty receivables. The Company received the $5.0 million deferred payment in January 2023. Existing royalty receivables relate to one customer, but do not present a credit risk due to immaterial nature. Restricted cash as of December 31, 2022 was $0.1 million which does not present a credit risk due to immaterial nature. All marketable securities were sold as of December 31, 2021. For the year ended December 31, 2021, the Company's three largest customers represented 17%, 15% and 9%, of product revenue and collectively 58% of accounts receivable. x. Comprehensive loss For the years ended December 31, 2022 and 2021, comprehensive loss was equal to the net loss as presented in the accompanying consolidated statements of operations. y. Newly issued and recently adopted accounting pronouncements : Recent Accounting Guidance Issued: In June 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ” (ASU 2016-13), which requires companies to measure credit losses of financial instruments, including customer accounts receivable, utilizing a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Subsequent to the issuance of ASU 2016-13, the FASB issued several additional Accounting Standard Updates to clarify implementation guidance, provide narrow-scope improvements and provide additional disclosure guidance. As a smaller reporting company, the Company will adopt ASU 2016-13 effective January 1, 2023. Currently, the Company does not expect the adoption of the new standard to have a material impact to the consolidated financial statements. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes," which clarifies and simplifies certain aspects of the accounting for income taxes. The standard is effective for years beginning after December 15, 2020, and interim periods beginning after December 15, 2020. This guidance became effective during the first quarter of 2021. The adoption of the new standard did not have a material impact to the Company's consolidated financial statements. In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2020-04, " Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting " (ASU 2020-04), which provides guidance to alleviate the burden in accounting for reference rate reform by allowing certain expedients and exceptions in applying generally accepted accounting principles to contracts, hedging relationships, and other transactions impacted by reference rate reform. The provisions of ASU 2020-04 apply only to those transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. Adoption of the provisions of ASU 2020-04 are optional and are effective from March 12, 2020 through December 31, 2022. In December 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2022-06, " Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848" (ASU 2022-06), which provides extension of the sunset date of Topic 848 from December 31, 2022, to December 31, 2024. The Company is currently evaluating the impact of ASU 2020-04 and ASU 2022-06 on its consolidated financial statements. Currently, the Company does not expect the adoption of the new standard to have a material impact to the consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, “ Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ” (“ASU 2020-06”), which simplifies the accounting for convertible instruments by eliminating the requirement to separately account for embedded conversion features as a

STRATEGIC AGREEMENTS

STRATEGIC AGREEMENTS	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
STRATEGIC AGREEMENTS	STRATEGIC AGREEMENTS Sale of the MST Franchise Beginning in the second quarter of 2021, the Company conducted a review of its commercial and research and development portfolio to determine how to optimally deploy capital and drive shareholder value. During the course of this review, the Company carefully considered the revenues received from the commercialization of AMZEEQ and ZILXI and the associated costs to drive those revenues, the protracted negative impact of the COVID-19 pandemic during the commercial launches of both AMZEEQ and ZILXI, the payor landscape, as well as the costs to develop each of its pipeline products. During this process, the Company evaluated several strategic options including the acquisition of marketed assets, out-licensing its approved products outside of the United States, and possible partnering or co-development relationships with interested parties. Following its review, the Company determined to initiate a process to explore a possible sale or license of its topical minocycline franchise, including AMZEEQ, ZILXI, FCD105 (the Company’s former Phase 3 proprietary novel topical combination foam formulation of minocycline and adapalene for the treatment of moderate-to-severe acne vulgaris) and the underlying Molecule Stabilizing Technology platform. On January 12, 2022, VYNE entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Journey Medical Corporation ("Journey”) pursuant to which the Company sold its Molecule Stabilizing Technology franchise, including AMZEEQ, ZILXI, and FCD105 (the “MST Franchise”), to Journey. The assets include certain contracts, including the license agreement with Cutia Therapeutics (HK) Limited (“Cutia”), inventory and intellectual property related to the MST Franchise (together, the “Assets”). Pursuant to the Agreement, Journey assumed certain liabilities of the MST Franchise including, among others, those arising from VYNE’s patent infringement suit initiated against Padagis Israel Pharmaceuticals Ltd. There were no current or long-term liabilities recorded by the Company which were transferred to Journey. Pursuant to the Purchase Agreement, the Company received an upfront payment of $20.0 million at the closing of the sale of the MST franchise and received an additional $5.0 million deferred payment in January 2023. The Company is also eligible to receive sales milestone payments of up to $450.0 million in the aggregate upon the achievement of specified levels of net sales on a product-by-product basis, beginning with annual net sales exceeding $100.0 million (with products covered in three categories (1) AMZEEQ (and certain modifications), (2) ZILXI (and certain modifications), and (3) FCD105 and other products covered by the patents being transferred, including certain modifications). In addition, the Company is entitled to receive certain payments from any licensing or sublicensing of the assets by Journey outside of the United States. As the Company transitioned from a commercial organization to one focused on research and development, the Company streamlined operations by eliminating the vast majority of planned expenditures supporting its commercial operations. Furthermore, following its decision to divest the MST Franchise, the Company reduced its workforce by terminating approximately 70 employees. The Company incurred a one-time charge of $1.6 million in the year ended December 31, 2021 in connection with this restructuring plan, consisting of $1.4 million of employee termination costs, including severance and other benefits, and retention payments of $0.2 million. The Company did not incur any material expenses in 2022 as a result of the restructuring plan. BET Inhibitor License Agreements On August 12, 2021, the Company announced a transaction with Tay Therapeutics Limited (formerly known as In4Derm Limited), a company incorporated and registered in Scotland (“Tay”). Tay is a spin-out of the University of Dundee’s School of Life Sciences which has discovered and is developing proprietary Bromodomain and Extra-Terminal Domain ("BET") inhibitors for the treatment of immunology and oncology conditions. On April 30, 2021, the parties entered into an Evaluation and Option Agreement (the “Option Agreement”) pursuant to which Tay granted the Company an exclusive option to obtain exclusive worldwide rights to research, develop and commercialize products containing Tay’s BET inhibitor compounds, which are new chemical entities for treatments in all fields for any disease, disorder or condition in humans. Under the terms of the Option Agreement, the Company's option with respect to selective BET inhibitor compounds ("Oral Option") was to expire upon the earlier of (i) 14 days following the delivery of an agreed data package and selection of a lead new chemical entity candidate by Tay or (ii) June 30, 2022 (the "Option Term"). On June 15, 2022, the parties entered into a Letter Agreement (the “Letter Agreement”) to extend the Option Term to February 28, 2023. Pursuant to the terms of the Letter Agreement, the Company paid $386,366 (£300,000) on June 28, 2022 to Tay to extend the Option Term. In addition, a second payment of $997,407 (£850,000) was paid to Tay pursuant to the terms of the Letter Agreement on August 29, 2022 following the discovery of potential preclinical candidates. Both payments were recorded as research and development expense. On February 27, 2023, the parties entered into a Letter Agreement (the "Second Letter Agreement") pursuant to which the Option Term has been extended to April 30, 2023. As consideration for the extension of the Option Term, the Company paid Tay $250,000 upon the execution of the Second Letter Agreement. Per the terms of the Second Letter Agreement, this fee will be deducted from the upfront fee payable by the Company to Tay in the event that the Company exercises the Oral Option. On August 6, 2021, the Company exercised its option with respect to certain of Tay's pan-BD Inhibitor Compounds ("Topical Option"). On August 9, 2021, the parties entered into a License Agreement (the "VYN201 License Agreement") granting the Company a worldwide, exclusive license that is sublicensable through multiple tiers to exploit certain of Tay’s pan-BD BET inhibitor compounds in all fields. The Company paid a $1.0 million cash payment to Tay upon the execution of the Option Agreement and $0.5 million in connection with entering into the VYN201 License Agreement. These payments were recorded as a research and development expense in the period paid. Pursuant to the VYN201 License Agreement, the Company has agreed to make cash payments to Tay upon the achievement of specified clinical development and regulatory approval milestones with respect to each licensed topical product in the United States of up to $15.75 million for all indications. Tay is entitled to additional milestones upon the achievement of regulatory approvals in certain jurisdictions outside the U.S. The VYN201 License Agreement provides for tiered royalty payments of up to 10% of annual net sales on the licensed product. In the event that the Company exercises the Oral Option, the parties will enter into a license agreement (the "VYN202 License Agreement") granting the Company a worldwide, exclusive license that is sublicensable through multiple tiers to exploit certain of Tay’s selective BET inhibitor compounds in all fields. The Company will owe a $4.0 million cash payment, less the extension fee paid in connection with Second Letter Agreement, to Tay in connection with entering into the VYN202 License Agreement. If the parties enter into the VYN202 License Agreement, the Company will make cash payments to Tay of up to $43.75 million upon the achievement of specified clinical development and regulatory approval milestones with respect to each licensed oral product in the United States for all indications. Tay will also be entitled to additional milestones upon the achievement of regulatory approvals in certain jurisdictions outside the U.S. The VYN202 License Agreement will provide for tiered royalty payments of up to 10% of annual net sales on the licensed product.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS On January 12, 2022, the Company entered into the Purchase Agreement with Journey pursuant to which the Company sold its MST Franchise to Journey. The Company has determined that the sale of the MST Franchise represents a strategic shift that had a major effect on the business and therefore the MST Franchise met the criteria for classification as discontinued operations at March 31, 2022. Accordingly the MST Franchise is reported as discontinued operations in accordance with ASC 205-20, Discontinued Operations . Amounts applicable to prior years have been recast to conform to the discontinued operations presentation. The Company recognized a gain on the sale of the MST Franchise upon closing. The negative product sales for the year ended December 31, 2022 was primarily attributable to a change in the product returns provision following the sale of the MST Franchise. The following table presents the combined results of discontinued operations of the MST Franchise: Year ended December 31, (in thousands) 2022 2021 Product sales, net $ (1,844) $ 13,824 Cost of goods sold 80 3,348 Operating expenses: Research and development — 5,415 Selling, general and administrative 259 34,182 Total operating expenses 259 39,597 Loss from discontinued operations (2,183) (29,121) Gain on the sale of the MST Franchise 12,918 — Income (loss) from discontinued operations, before income taxes 10,735 (29,121) Income tax expense — — Net income (loss) from discontinued operations $ 10,735 $ (29,121) The following table presents the carrying amounts of the classes of assets related to the discontinued operations of the MST Franchise as of December 31, 2021: (in thousands) December 31, 2021 Current assets: Inventory $ 7,291 Prepaid expenses and other assets 554 Total current assets of discontinued operations $ 7,845 Inventory was primarily comprised of $3.3 million of raw materials and $4.0 million of finished goods. The following table presents non-cash items related to discontinued operations, which are included in the Company's consolidated statement of cash flows for the years ended December 31, 2022 and 2021: Year ended December 31, (in thousands) 2022 2021 Cash Flows From Operating Activities: Stock-based compensation (income) expense* $ (352) $ 1,123 Gain on the sale of the MST Franchise (12,918) — Total non-cash items of discontinued operations $ (13,270) $ 1,123 Supplemental disclosure of cash flow information: Amount due from sale of MST Franchise $ 5,000 $ — *Income from stock-based compensation is related to forfeitures. The following table presents the gain on the sale of the MST Franchise: (in thousands) Year ended December 31, 2022 Cash proceeds 20,000 Proceeds paid in January 2023 5,000 25,000 Less transaction costs (4,334) Less carrying value of assets sold (7,748) Gain on sale, before income taxes 12,918 Income tax expense — Gain on sale net of tax $ 12,918 In accordance with ASC 205-20, only expenses specifically identifiable and related to a business to be disposed may be presented in discontinued operations. As such, the research and development, marketing, selling and general and administrative expenses in discontinued operations include corporate costs incurred directly to solely support the MST Franchise. The milestone payment for sales of ZILXI, AMZEEQ and FCD105 represent contingent consideration. Contingent consideration has been accounted for as a gain contingency in accordance with ASC 450, Contingencies , and will be recognized in earnings in the period when realizable.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT December 31, 2022 2021 Cost: Leasehold improvements $ — $ 59 Computers and software — 374 Laboratory equipment — 53 Furniture — 419 — 905 Less: Accumulated depreciation and amortization — 551 Property and Equipment, net $ — $ 354 Depreciation and amortization expense totaled $0.1 million and $0.1 million for the years ended December 31, 2022 and 2021, respectively.

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses consisted of the following: December 31, 2022 2021 Product sales provisions $ 2,695 $ 5,489 Professional services 519 1,213 Research and development 987 969 Commercialized product accruals — 596 Other 180 326 Total Accrued Expenses $ 4,381 $ 8,593

OPERATING LEASE

OPERATING LEASE	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
OPERATING LEASE	OPERATING LEASE As of December 31, 2022, the Company had operating leases for its principal executive office in Bridgewater, New Jersey. As of December 31, 2021, the Company previously had operating leases for its vehicles. In connection with the strategic business review and sale of the MST Franchise certain vehicle leases were transferred to members of the commercial workforce resulting in the elimination of the operating lease amounts related to fleet vehicles. On March 13, 2019, the Company signed an amendment to the original lease agreement for its principal executive office in Bridgewater, New Jersey (the “Lease Amendment”). The Lease Amendment included an extension of the lease period of the 10,000 square feet previously leased under the original agreement (the “Original Space”) and an addition of 4,639 square feet (the “Additional Space”). The Company entered the Additional Space following a period of preparation by the lessor completed during September 2019 (the “Commencement Date”). The term included in the Lease Amendment expired on September 30, 2022. Pursuant to the Lease Amendment, the Company recognized an additional right of use asset and liability in the amount of $0.7 million. The Additional Space was considered a new lease agreement and was recognized as a right of use asset and liability, in the amount of $0.3 million, on the Commencement Date. The lease liability matured on September 30, 2022. In November 2022, the Company transitioned to a smaller corporate headquarters and signed a Sublease Agreement (the “Sublease”) to sublease approximately 5,755 square feet of office space (the “Leased Premises”) in Bridgewater, New Jersey through September 30, 2023. In addition, the Company signed a Lease Agreement (the “Master Lease”) to lease the Leased Premises following the termination of the Sublease through September 30, 2025. The Company will record a right of use asset and liability at the commencement date of the Master Lease. The Master Lease is expected to result in total lease payments of approximately $0.3 million. The lease agreement for the office space in Israel was a one year lease that expired in December 2022. Given the short-term nature of the lease term, the Company did not recognize a right-of-use asset and liability. Operating lease costs for the year ended December 31, 2022 are as follows: (in thousands) Year Ended December 31 Year Ended December 31 Office lease expenses $ 297 $ 357 The operating lease costs include an immaterial amount of variable lease payments for the years ended December 31, 2022 and 2021, respectively. Lease expense is included within selling, general and administrative expenses on the Consolidated Statements of Operations. As of December 31, 2021, the lease liabilities reflect a weighted average discount rate of 13.10% and a remaining weighted average lease term of 0.75 as of December 31, 2021. There were no lease liabilities as of December 31, 2022. As of December 31, 2021, the Company had a lien in the amount of $0.6 million related to a letter of credit on the Company’s cash in respect of bank guarantees granted in order to secure the lease agreements. In April 2022, the lien was released and the Company reclassed the $0.6 million from restricted cash to cash and cash equivalents due to the lien release. This amount was presented as restricted cash in the Company's consolidated balance sheet as of December 31, 2021.

EMPLOYEE SAVINGS PLAN

EMPLOYEE SAVINGS PLAN	12 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
EMPLOYEE SAVINGS PLAN	EMPLOYEE SAVINGS PLANBeginning September 2017, the Company has made retirement savings plans available to all employees of the Subsidiary, which are intended to qualify as deferred compensation plans under Section 401(k) of the Internal Revenue Code (the “401(k) Plans”). The Company made contributions to these 401(k) Plans during the years ended December 31, 2022, and 2021 of approximately $0.1 million and $0.4 million, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESLitigation and contingenciesThe Company may periodically become subject to legal proceedings and claims arising in connection with its business. As of December 31, 2022, there are no claims or actions pending against the Company that, in the opinion of management, are likely to have a material adverse effect on the Company.

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBTOn July 29, 2019, Foamix entered into a Credit Agreement (the "Credit Agreement") to secure up to $50.0 million from two lenders, one of which is a significant stockholder of the Company and is considered a related party, and a Securities Purchase Agreement with one of the lenders for gross proceeds of approximately $14.0 million, before deducting offering expenses (see "Note 12 - Share Capital" for more information). On March 9, 2020, the Company entered into an Amended and Restated Credit Agreement and Guaranty (as further amended on August 5, 2020, the "Amended and Restated Credit Agreement"), whereby the Company guaranteed the indebtedness obligations of the borrower and granted a first priority security interest in substantially all of the Company's assets for the benefit of the lenders. The term loans drawn under the Amended and Restated Credit Agreement were comprised as follows: (a) $15.0 million that was funded on July 29, 2019 (the “Tranche 1 Loan”) and (b) $20.0 million that was funded on December 17, 2019 (the “Tranche 2 Loan”). The Tranche 2 Loan was borrowed following the FDA’s approval of the Company’s NDA for AMZEEQ and listing of AMZEEQ in the FDA’s “Orange Book,” in addition to maintaining its arrangements with a third party for the commercial supply and manufacture of AMZEEQ. Subject to any acceleration as provided in the Amended and Restated Credit Agreement, including upon an event of default (as defined in the Amended and Restated Credit Agreement), the loans will mature on July 29, 2024 and bear interest equal to the sum of (A) 8.25% (subject to increase in accordance with the terms of the Amended and Restated Credit Agreement) plus (B) the greater of (x) the one-month LIBOR as of the second business day immediately preceding the first day of the calendar month or the date of borrowing (if such loan is not outstanding as of the first day of the calendar month), as applicable, and (y) 2.75%. A fee in an amount equal to 1.0% of the aggregate principal amount of all loans made on any given borrowing date shall be payable to the lenders. The loans were scheduled to mature on July 29, 2024. However, following discussions with the Company's lenders regarding the revenue targets included in the Amended and Restated Credit Agreement, the revenue expected to be generated for the trailing twelve month period ended June 30, 2021 and the Company's strategic business review discussed in Note 1, the Company determined to prepay its outstanding indebtedness in addition to a 4% prepayment fee and accrued but unpaid interest in the total amount of approximately $36.5 million on August 11, 2021. Following the prepayment, the Amended and Restated Credit Agreement and the security interests thereunder were terminated. As of December 31, 2022 there was no debt outstanding. Perceptive Credit Holdings II, LP ("Perceptive") was one of the lenders and the administrative agent under the Amended and Restated Credit Agreement. As of August 11, 2021, the date of the prepayment, affiliates of Perceptive were holders of more than 5% of the Company's outstanding common stock. In connection with the prepayment of the Company's indebtedness, Perceptive received $18.3 million, representing their portion of the principal amount, interest and prepayment premium. As of December 31, 2021, Perceptive was no longer a related party. In addition, on July 29, 2019, the lenders under the Credit Agreement were issued warrants to purchase up to an aggregate of 61,111 of Foamix ordinary shares, at an exercise price of $37.62 per share (the “Warrants”), which represented the five-day volume weighted average price of the Foamix ordinary shares as of the trading day immediately prior to the issuance of the Warrants. In connection with the completion of the Merger on March 9, 2020, the applicable exchange ratio (the "Exchange Ratio") was applied to the Warrants such that they became exercisable for 36,202 shares of the Company's common stock, and the exercise price was adjusted to $63.54. On April 6, 2020, following the Phase 3 PN Trial results, the Warrants were further adjusted for the conversion of the contingent stock rights and reverse stock split. As of December 31, 2022, the Warrants were exercisable for 27,509 shares of the Company's common stock with an exercise price of $76.78 per share. Payment of the exercise price will be made, at the option of the holder, either in cash or as a reduction of common stock issuable upon exercise of the Warrant, with an aggregate fair value equal to the aggregate exercise price ("cashless exercise"), or any combination of the foregoing. The Warrants are exercisable pursuant to the terms, and subject to the conditions, thereof and expire on July 29, 2026. Any Warrants left outstanding will be cashless exercised on the Warrants' expiration date, if in the money. The Warrants issued were classified as equity in accordance with ASC 815-40. Proceeds received under the Tranche 1 Loan were allocated to the Warrants and the Tranche 1 Loan on a relative fair value basis. The exercise price of the Warrants will be adjusted in the event of issuances of common stock at a price lower than the exercise price of the warrants then in effect (the “Down Round Feature”). During the years ended December 31, 2022 and 2021, the Down Round Feature was triggered due to the price per share received from the issuance of common stock. Refer to Note 11 - Mezzanine and Shareholders' Equity for further information on the impact of the Down Round Feature. The Warrants expire on July 29, 2026. During the year ended December 31, 2021 the Company recorded interest expense of $5.6 million comprised of interest on debt of $3.8 million and discount cost of $1.8 million. The interest expense includes a debt prepayment fee of $1.4 million and the write-off of discount costs of $1.6 million associated with the Company's prepayment of outstanding indebtedness resulting in a total extinguishment loss of $3.0 million.

MEZZANINE AND SHAREHOLDERS' EQU

MEZZANINE AND SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
MEZZANINE AND SHAREHOLDERS' EQUITY	MEZZANINE AND SHAREHOLDERS' EQUITY Preferred stock As of December 31, 2022, the Company's Certificate of Incorporation, as amended, authorized the Company to issue 20,000,000 shares of preferred stock, par value $0.0001 per share. There were 3,000 and 0 shares of Series A Convertible Preferred Stock issued and outstanding as of December 31, 2022 and December 31, 2021, respectively. Shares of preferred stock may be issued from time to time in one or more series. The voting powers (if any), preferences and relative, participating, optional or other special rights, and the qualifications, limitations and restrictions of any series of preferred stock will be set forth in a Certificate of Designation filed pursuant to the Delaware General Corporation Law, as determined by the Company's board of directors. On November 11, 2022, the Company, entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Mutual Fund Series Trust, on behalf of AlphaCentric LifeSci Healthcare Fund (the “Purchaser”), pursuant to which the Company issued on November 14, 2022 (the “Closing Date”), in a private placement transaction (the “Transaction”), an aggregate of 3,000 shares of Series A Convertible Preferred Stock, par value $0.0001 per share (the “Series A Preferred”), for an aggregate subscription amount equal to $300,000. This transaction resulted in $89,000 of issuance costs and a net subscription of $211,000 as of December 31, 2022. The Company determined that the Series A Convertible Preferred Stock should be classified as Mezzanine Equity (temporary equity outside of permanent equity), that the Series A Convertible Preferred Stock more closely aligned with debt as the intent is for redemption by either the holder or issuer, most likely the issuer (the Company) due to the more favorable redemption terms. The Purchase Agreement required that the Company convene, no later than January 31, 2023 (excluding adjournments and assuming no review of the Company’s proxy statement by the Securities and Exchange Commission), an annual meeting or special meeting of stockholders for the purpose of presenting to the Company’s stockholders a proposal (the “Proposal”) to approve a reverse stock split of its outstanding Common Stock (the “Reverse Stock Split”), with the recommendation of the board of directors that the Proposal be approved, and that the Company use reasonable best efforts to obtain approval of the Proposal. Additionally, the Purchase Agreement contained customary representations, warranties and agreements of the Company and the Purchaser, and customary indemnification rights and obligations of the parties. Pursuant to the Purchase Agreement, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series A Convertible Preferred Stock (the “Certificate of Designation”) with the Secretary of State of Delaware designating the rights, preferences and limitations of the Series A Preferred. The Certificate of Designation provided, among other things, that except as otherwise provided in the Certificate of Designation or as otherwise required by law, the Series A Preferred would have no voting rights (other than the right to vote as a class on certain matters as provided in the Certificate of Designation). However, pursuant to the Certificate of Designation, each share of Series A Preferred entitled the holder thereof (i) to vote on the Proposal and any proposal to adjourn any meeting of stockholders called for the purpose of voting on the Proposal, and (ii) to 1,000,000 votes per share of Series A Preferred on the Proposal and any such adjournment proposal. The Series A Preferred should, except as required by law, vote together with the Common Stock (and other issued and outstanding shares of preferred stock entitled to vote), as a single class; provided, however, that such shares of Series A Preferred should, to the extent cast on the Proposal or any such adjournment proposal, be automatically and without further action of the holders thereof voted in the same proportion as the shares of Common Stock (excluding abstentions and any shares of Common Stock that are not voted) and any other issued and outstanding shares of preferred stock of the Company entitled to vote (other than the Series A Preferred or shares of such other preferred stock, if any, not voted) are voted on the Proposal. On November 14, 2022, the Company filed the Certificate of Designation with the Secretary of State of the State of Delaware designating 3,000 shares out of the authorized but unissued shares of its preferred stock as Series A Preferred with a stated par value of $0.0001 per share. The Series A Preferred were entitled to customary dividends and distributions when and if paid on shares of the Common Stock and were entitled to the voting rights discussed above. The Series A Preferred had preference over the Common Stock with respect to distribution of assets or available proceeds, as applicable, in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or any other deemed liquidation event. The shares of Series A Preferred were convertible at the option of the holder, at a conversion price of $4.68 per share (as adjusted for the reverse stock split), into shares of the Company’s common stock, at any time and from time to time from and after 15 business days following the earlier of (i) the date of the approval of the Proposal or (ii) the date the Company otherwise satisfies the Nasdaq listing requirements. The Company had the right to redeem the Series A Preferred at any time during the 15 business days following the approval of the Proposal (the "Company Redemption Period") at 120% of the stated value. Each holder of Series A Preferred had the right to require the Company to redeem all or a portion of the Series A Preferred held by such holder following the expiration of the Company Redemption Period at 130% of the stated value. In addition, the Company would automatically redeem all of the Series A Preferred within five business days following a delisting event as specified in the Certificate of Designation at 130% of the stated value. On January 17, 2023, the Company redeemed all outstanding shares of its Series A Preferred, for an aggregate of $360,000 paid to the sole holder of the Series A Preferred Stock. The redemption payment represents 120% of the stated value of the Series A Preferred Stock pursuant to the Certificate of Designation. On January 17, 2023, the Company filed a Certificate of Elimination (the “Certificate”) with the Secretary of State of the State of Delaware with respect to the Series A Preferred Stock. The Certificate (i) eliminated the previous designation of 3,000 shares of Series A Preferred Stock from the Company’s Amended and Restated Certificate of Incorporation, none of which were outstanding at the time of filing, and (ii) caused such shares of Series A Preferred Stock to resume their status as authorized but unissued and non-designated shares of preferred stock. Common stock The number of shares of common stock authorized under the Company's Amended and Restated Certificate of Incorporation was proportionately reduced in connection with the Company's 1-for-4 reverse stock split in February 2021. On July 19, 2021, the Company held its meeting of Stockholders (the "Annual Meeting"). Following the approval by the holders of a majority of the outstanding shares of common stock at the Annual Meeting, the Company filed a Certificate of Amended and Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 75,000,000 to 150,000,000 shares of common stock, par value $0.0001 per share. Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when and if declared by the board of directors, subject to the prior rights of holders of all classes of preferred stock outstanding. The Company has never declared any dividends on common stock. On February 8, 2023, the Company's Board of Directors approved a 1-for-18 reverse stock split of the Company's outstanding shares of common stock. The reverse stock split was effected on February 10, 2023 at 5:01 p.m. Eastern time. At the effective time, every 18 issued and outstanding shares of the Company's common stock were converted into one share of common stock. No fractional shares were issued in connection with the reverse stock split, and in lieu thereof, each stockholder holding fractional shares was entitled to receive a cash payment (without interest or deduction) from the Company’s transfer agent in an amount equal to such stockholder’s respective pro rata shares of the total net proceeds from the Company’s transfer agent sale of all fractional shares at the then-prevailing prices on the open market. The number of authorized shares of the Company's common stock and the par value of each share of common stock remained unchanged. Unless noted, all common shares and per share amounts contained in the consolidated financial statements have been retroactively adjusted to reflect a 1-for-18 reverse stock split. The Company had reserved shares of common stock for future issuance as follows: Year ended December 31, 2022 Common stock options outstanding (Note 12) 229,787 Shares available for grant under the Employee Stock Purchase Plan (Note 12) 116,463 Outstanding restricted stock units (Note 12) 83,616 Shares available for future grant under 2018 and 2019 Plans (Note 12) 72,148 Shares reserved for conversion of Series A Convertible Preferred Stock* 64,102 Shares underlying outstanding warrants 27,509 593,625 *The Series A Convertible Preferred Stock was fully redeemed on January 17, 2023. Warrants As of December 31, 2022 and December 31, 2021, the Company had equity-classified warrants to purchase an aggregate of 27,509 shares of the Company’s common stock outstanding, with an exercise price of $76.78 as of December 31, 2022 and an expiration date of July 29, 2026. The exercise price will be adjusted in the event the Down Round Feature is triggered. During the year ended December 31, 2022 and 2021, the Down Round Feature was triggered due to the price per share received from the issuance of common stock. The Company calculated the value of the effect of Down Round Feature measured as the difference between the warrants’ fair value, using the Black-Scholes-Merton option-pricing model, before and after the Down Round Feature was triggered using the original exercise price and the new exercise price. The difference in fair value of the effect of the Down Round Feature was immaterial and had no impact on net loss per share in the periods presented. The exercise price will continue to be adjusted in the event the Company issues additional shares of common stock below the current exercise price, in accordance with the terms of the warrants. Issuance of stock On February 1, 2019, the Company entered into a Sales Agreement (the "2019 Sales Agreement") with Cantor Fitzgerald & Co. ("Cantor Fitzgerald") to sell shares of the Company's common stock, from time to time, with aggregate gross sales proceeds of up to $50.0 million through an at-the-market equity offering program under which Cantor Fitzgerald acted as the Company's sales agent. Cantor Fitzgerald was entitled to compensation for its services equal to up to 3.0% of the gross proceeds of any shares of common stock sold under the 2019 Sales Agreement. From January 1, 2021 through January 25, 2021 the Company issued and sold 154,334 shares of common stock at a weighted average price per share of $175.68 pursuant to the 2019 Sales Agreement for $26.3 million in net proceeds. Effective as of January 25, 2021, the Company terminated the 2019 Sales Agreement. On January 26, 2021, the Company entered into a Securities Purchase Agreement with certain institutional and accredited investors for the sale of an aggregate of 293,015 shares of common stock of the Company, at a purchase price of $170.64 per share in a registered direct offering. The offering was completed on January 28, 2021 and the Company received approximately $46.8 million in net proceeds, after deducting placement agent fees and other offering expenses. On August 12, 2021, the Company entered into a new sales agreement (the "Sales Agreement") with Cantor Fitzgerald to sell shares of the Company's common stock, from time to time, with aggregate gross sales proceeds of up to $50.0 million through an at-the-market equity offering program under which Cantor Fitzgerald will act as the Company's sales agent. Cantor Fitzgerald is entitled to compensation for its services equal to up to 3.0% of the gross proceeds of any shares of common stock sold under the Sales Agreement. During the year ended December 31, 2021, the Company issued and sold 108,629 shares of common stock at a weighted average per share price of $28.26 pursuant to the Sales Agreement for $2.9 million in net proceeds. During the year ended December 31, 2022, the Company issued and sold 143,770 shares of common stock at a weighted average per share price of $11.16 pursuant to the 2021 Sales Agreement for $1.5 million in net proceeds. This agreement was in effect as of December 31, 2022. On March 15, 2022, the Company entered into the Equity Purchase Agreement, with Lincoln Park which provides that, upon the terms and subject to the conditions and limitations set forth therein, the Company may sell to Lincoln Park, at the

SHARE BASED COMPENSATION

SHARE BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE BASED COMPENSATION	SHARE BASED COMPENSATION Equity incentive plans: The Company maintains the 2019 Equity Incentive Plan (the “2019 Plan”) and 2018 Omnibus Incentive Plan (the "2018 Plan"). As of December 31, 2022, 57,338 shares remain issuable under the 2019 Plan and 14,810 shares remain issuable under the 2018 Plan. In January 2022, the number of shares reserved under the 2018 Plan automatically increased by 41,666 shares of common stock pursuant to the terms of the 2018 Plan. Employee Share Purchase Plan: The Company adopted Foamix's Employee Share Purchase Plan ("ESPP") pursuant to which qualified employees (as defined in the ESPP) may elect to purchase designated shares of the Company’s common stock at a price equal to 85% of the lesser of the fair market value of the common stock at the beginning or end of each semi-annual share purchase period (“Purchase Period”). Employees are permitted to purchase the number of shares purchasable with up to 15% of the earnings paid (as such term is defined in the ESPP) to each of the participating employees during the Purchase Period, subject to certain limitations under Section 423 of the U.S. Internal Revenue Code. As of December 31, 2022, 116,463 shares remain available for grant under the ESPP. During the year ended December 31, 2022 and 2021, 7,549 and 3,994 shares were issued to employees pursuant to the ESPP, respectively. Options and Restricted Stock Units ("RSUs") granted to employees and directors: In the years ended December 31, 2022 and 2021, the Company granted options and RSUs as follows: Year ended December 31, 2022 Award amount Exercise price range Vesting period Expiration Employees and Directors: Options 48,861 $5.62- $10.98 1 year - 4 years 10 years RSU 40,339 — 4 years — Year ended December 31, 2021 Award amount Exercise price range Vesting period Expiration Employees and Directors: Options 93,689 $30.24- $199.44 1 year - 4 years 10 years RSU 53,934 — 2 years - 4 years — The fair value of options and RSUs granted to employees and directors during 2022 and 2021 was $0.8 million and $9.4 million, respectively. One share of Common Stock will be issued for each RSU that vests. The fair value of RSUs granted to employees and directors is based on the share price on grant date. The fair value of each option granted is estimated using the Black-Scholes option pricing method. The volatility is based on a combination of historical volatilities of companies in comparable stages as well as companies in the industry, by statistical analysis of daily share pricing model. The risk-free interest rate assumption is based on observed interest rates appropriate for the expected term of the options granted in dollar terms. The Company’s management uses the expected term of each option as its expected life. The expected term of the options granted represents the period of time that granted options are expected to remain outstanding. The underlying data used for computing the fair value of the options are as follows: Year ended December 31, 2022 2021 Fair value of stock option $3.55-$7.49 $18.36-$121.50 Dividend yield 0 % 0 % Expected volatility 73.70%-74.40% 68.38%-69.38% Risk-free interest rate 2.20%-2.92% 0.50%-1.29% Expected term 6 years 6 years Modification of share-based compensation: On November 10, 2019, Menlo Therapeutics Inc. ("Menlo") entered into a merger agreement (the "Merger Agreement") with Foamix Pharmaceuticals Ltd. ("Foamix") and Giants Merger Subsidiary Ltd., a wholly-owned subsidiary of Menlo ("Merger Sub"). On March 9, 2020, Merger Sub merged with and into Foamix, with Foamix surviving as a wholly-owned subsidiary of Menlo (the "Merger"). The combined company changed its name to VYNE in September 2020. Pursuant to the Merger, all outstanding options and RSUs granted by Foamix were exchanged for stock options and RSUs of Menlo’s common stock according to the exchange ratio set forth in the Merger Agreement. In addition, for each option and RSU the holder received a contingent stock right ("CSR"). This transaction was considered by the Company to be a modification under ASC 718, Compensation - Stock Compensation. The modification did not affect the remaining requisite service period. As a result of the modification, for outstanding options and RSUs granted to Foamix employees and consultants, the Company recorded immaterial incremental compensation expense. On April 6, 2020, pursuant to the terms of the agreement governing the CSRs, each CSR was converted into 1.2082 shares of Menlo common stock, resulting in an effective exchange ratio in the Merger of 1.8006 shares of Menlo common stock for each Foamix ordinary share. The conversion was considered by the company to be a modification under ASC 718. As a result of the modification, for outstanding options and RSUs granted to Foamix employees and consultants, the Company recorded incremental compensation of $0.2 million and $1.8 million for the years ended December 31, 2022 and December 31, 2021, respectively. As of December 31, 2022 there is $0.1 million of unrecognized incremental compensation expense related to the modification which will be amortized using a graded vesting method over the next 1 year. Summary of outstanding and exercisable options and RSUs: The following table summarizes the number of options outstanding for the year ended December 31, 2022, and related information: Number of options Weighted Average Exercise Price Outstanding at December 31, 2021 224,664 $ 165.12 Granted 48,861 10.35 Forfeited (26,234) 102.28 Expired (17,504) 157.35 Outstanding at December 31, 2022 229,787 $ 138.92 Exercisable at December 31, 2022 145,272 $ 182.66 The weighted average remaining contractual term of outstanding and exercisable options as of December 31, 2022, is 6.5 years and 5.5 years, respectively. Total unrecognized share based compensation for options at December 31, 2022 is $2.9 million, which is expected to be recognized over a weighted average period of 2.1 years. There was no intrinsic value of outstanding and exercisable options as of December 31, 2022 The following table summarizes the number of RSUs outstanding for the year ended December 31, 2022: Number of RSUs Outstanding at December 31, 2021 70,133 Awarded 40,339 Vested (13,375) Forfeited (13,481) Outstanding at December 31, 2022 83,616 Total unrecognized compensation expense related to the unvested portion of the Company's RSUs at December 31, 2022 was $2.9 million, which is expected to be recognized over a weighted average period of 2.1 years. Share-based compensation expenses: The following table illustrates the effect of share-based compensation on the statements of operations: Year ended December 31, 2022 2021 Research and development expenses 1,230 1,714 Selling, general and administrative 3,419 5,243 Discontinued Operations* (352) 1,123 4,297 8,080 *Income from stock-based compensation is related to forfeitures.

INCOME TAX

INCOME TAX	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAX	INCOME TAX: The income (loss) before income taxes and the related tax expense (benefit) is as follows: Year ended December 31, (in thousands) 2022 2021 Income (loss) before income taxes: Domestic $ (23,472) $ (69,196) Foreign 279 (4,581) Total loss before taxes $ (23,193) $ (73,777) Current taxes: Federal $ — $ (456) State 13 8 Total current taxes $ 13 $ (448) A reconciliation of income taxes at the U.S. federal statutory rate to the provision for income taxes is as follows: Year ended December 31, 2022 2021 Federal income tax provision at statutory rate 21.00 % 21.00 % State income tax provision, net of federal benefit (0.04) % (0.01) % Permanent differences (1.52) % — % Change in valuation allowances (19.49) % (20.27) % Other — % (0.11) % Effective income tax rate (0.05) % 0.61 % The income tax expense for the years ended December 31, 2022 and 2021 differed from the amounts computed by applying the U.S. federal income tax rate of 21% to loss before tax expense as a result of nondeductible expenses, changes in state effective tax rates, foreign taxes, tax credits generated, true up of net operating loss carryforwards, and increase in the Company’s valuation allowance. The Company applies the elements of FASB ASC 740-10 regarding accounting for uncertainty in income taxes. This clarifies the accounting for uncertainty in income taxes recognized in financial statements and required impact of a tax position to be recognized in the financial statements if that position is more likely than not of being sustained by the taxing authority. Included in Other Liabilities on the Consolidated Balance Sheets, are the total amount of unrecognized tax benefits of approximately $2.9 million and $2.8 million as of December 31, 2022 and 2021, respectively, net of the federal benefit, which is offset by a valuation allowance. The Company’s policy is to recognize interest and penalties related to tax matters within the income tax provision. Tax years beginning in 2018 are generally subject to examination by taxing authorities, although net operating losses from all years are subject to examinations and adjustments for at least three years following the year in which the attributes are used. The significant components of the Company's deferred tax assets and liabilities are as follows: December 31, (in thousands) 2022 2021 Deferred tax assets: Net operating loss carry forward $ 72,903 $ 73,259 Tax credit carryforwards 7,794 7,905 Section 174 expenses 3,529 — Share based compensation 2,061 3,281 Accrued expenses and other 586 1,226 Total gross deferred tax assets 86,873 85,671 Less - valuation allowance (86,873) (85,555) Total deferred tax assets, net of valuation allowance Deferred tax liabilities: Other — (40) Right of use assets — (76) Total gross deferred tax liabilities — (116) Net deferred tax assets $ — $ — Realization of deferred tax assets is contingent upon sufficient future taxable income during the period that deductible temporary differences and carry forward losses are expected to be available to reduce taxable income. As the achievement of required future taxable income is not likely, the Company recorded a full valuation allowance. At December 31, 2022 and 2021, the Company recorded a valuation allowance against its net deferred tax assets of approximately $86.9 million and $85.6 million, respectively. The change in the valuation allowance during the years ended December 31, 2022 and 2021 was an increase of approximately $1.3 million and $15.8 million, respectively. A valuation allowance has been recorded since, in the judgment of management, these assets are not more likely than not to be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during periods in which those temporary differences and carryforwards become deductible or are utilized. As of December 31, 2022, the Company had federal and state pre-tax net operating loss carryforwards of approximately $318.3 million and $90.4 million, respectively. As of December 31, 2022, research and development credit carryforwards for federal and state purposes are approximately $6.6 million and $1.2 million, respectively. As a result of U.S. tax reform legislation, federal net operating losses generated beginning in 2018 and subsequent years carryforward indefinitely, however, the Company has federal net operating losses that pre-date U.S. tax reform legislation which begin to expire in 2031 and federal credit carryforwards that begin to expire in 2031. State net operating loss carryforwards begin to expire in 2031, and the state credit carryforwards began to expire in 2031. Sections 382 and 383 of the Internal Revenue Code of 1986 subject the future utilization of net operating losses and certain other tax attributes, such as research and development tax credits, to an annual limitation in the event of certain ownership changes, as defined. The Company may have undergone ownership changes and therefore may be materially limited in the amount of NOL and R&D tax credit available for utilization in the future. The Company generated research and development tax credits but has not conducted a study to document the qualified activities. This study may result in an adjustment to the Company’s research and development credit carryforwards; however, until a study is completed and any adjustment is known, a partial reserve has been presented as an uncertain tax position which is offset against the gross research and development deferred tax asset. A full valuation allowance has been provided against the Company’s research and development credits and, if an adjustment is required, this would be offset by an adjustment to the deferred tax asset established for the research and development credit carryforwards and the valuation allowance. Uncertain tax positions: ASC No. 740, Income Taxes, requires significant judgment in determining what constitutes an individual tax position as well as assessing the outcome of each tax position. Changes in judgment as to recognition or measurement of tax positions can materially affect the estimate of the effective tax rate and consequently, affect the operating results of the Company. The following table summarizes the activity of the Company unrecognized tax benefits (in thousands): Balance at January 1, 2021 $ 3,083 Additions for prior year positions — Additions for current year positions 172 Reductions related to expiration of statute of limitations (456) Balance at December 31, 2021 $ 2,799 Additions for prior year positions — Additions for current year positions 55 Reductions related to expiration of statute of limitations — Balance at December 31, 2022 $ 2,854

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentationThe Company’s consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”).
Principles of consolidation	b. Principles of consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany balances and transactions have been eliminated upon consolidation.
Use of estimates	Use of estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Significant items subject to such estimates and assumptions include revenue recognition and product returns accrual. Actual results could differ from the Company’s estimates. The COVID-19 pandemic and government measures taken in response to the pandemic have had a negative impact on the Company's operations in 2021. Access to healthcare providers was limited, which has negatively impacted sales and the
Foreign Currency Translation	Foreign Currency TranslationTransactions and balances originally denominated in dollars are presented at their original amounts. Balances in non-dollar currencies are translated into dollars using historical and current exchange rates for non-monetary and monetary balances, respectively. For non-dollar transactions and other items in the statements of operations (indicated below), the following exchange rates are used: (i) for transactions - exchange rates at transaction dates or average rates; and (ii) for other items (derived from non-monetary balance sheet items such as depreciation and amortization, etc.) - historical exchange rates. Currency transaction gains and losses are presented in financial income or expenses, as appropriate.
Cash and cash equivalents	Cash and cash equivalentsThe Company considers as cash equivalents all short-term, highly liquid investments, which include short-term bank deposits and money market funds with original maturities of three months or less from the date of purchase that are not restricted as to withdrawal or use and are readily convertible to known amounts of cash. As of December 31, 2022 and December 31, 2021, the Company had approximately $28.0 million and $29.5 million, respectively, of cash equivalents classified as Level 1 financial instruments.
Restricted cash	Restricted CashAs of December 31, 2022, the Company had restricted cash of $0.1 million. This amount represents bank guarantees for the Company's Israeli branch.
Marketable securities	Marketable securitiesThe Company's marketable equity securities are recorded at fair value, with unrealized gains and losses included in other income, net in the consolidated statement of operations.
Inventory	InventoryAs of December 31, 2021 and January 12, 2022, the date the inventory was sold as part of the sale of the MST Franchise, inventories were stated at the lower of cost and net realizable value with cost determined on a first-in, first-out basis by product. The Company capitalized inventory costs associated with products following regulatory approval when future commercialization was considered probable and the future economic benefit was expected to be realized. The Company periodically reviewed its inventory levels and, if necessary, wrote down inventory that was expected to expire prior to being sold, inventory in excess of expected sales requirements and inventory that failed to meet commercial sale specifications, with a corresponding charge to cost of goods sold.
Property and equipment	Property and equipment 1) Property and equipment are stated at cost, net of accumulated depreciation and amortization. 2) The Company’s property and equipment are depreciated by the straight-line method on the basis of their estimated useful life. Annual rates of depreciation are as follows: Estimated Useful Life Computers 3 - 7 years Laboratory equipment 5 - 14 years Office furniture and equipment 7 - 14 years Leasehold improvements are amortized by the straight-line method over the expected lease term, which is shorter than the estimated useful life of the improvements.
Impairment of long-lived assets	Impairment of long-lived assetsThe Company tests long-lived assets for impairment whenever events or circumstances present an indication of impairment. If the sum of expected future cash flows (undiscounted and without interest charges) of the assets is less than the carrying amount of such assets, an impairment loss would be recognized. The assets would be written down to their estimated fair values, calculated based on the present value of expected future cash flows (discounted cash flows), or some other fair value measure.
Allowance for doubtful accounts	Allowance for doubtful accountsAn allowance for doubtful accounts is maintained for potential credit losses based on the aging of trade receivables, historical bad debts experience and changes in customer payment patterns. Trade receivable balances are written off against the allowance when it is deemed probable that the receivable will not be collected. Trade receivables, net are stated net of reserves for certain sales allowances and provisions for doubtful accounts.
Debt	Debt Debt discounts created as a result of the allocation of proceeds received from a debt issuance to warrants issued are amortized to interest expense under the effective interest method over the life of the recognized debt liability. Debt issuance costs include the costs of debt financings undertaken by the Company, including legal fees and other direct costs of the financing. Debt issuance costs related to a recognized debt liability are presented on the consolidated balance sheet as a direct deduction from the carrying amount of the debt liability and are amortized to interest expense over the term of the related debt, using the effective interest method.
Leases	LeasesThe Company's lease portfolio mainly consists of office space. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Operating lease assets represent the Company’s right to use an underlying asset for the lease term whereas lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. Operating lease expense is recognized on a straight-line basis over the expected lease term.
Contingencies	Contingencies Certain conditions may exist as of the date of the consolidated financial statements, which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. The Company’s management assesses such contingent liabilities and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against the Company or unasserted claims that may result in such proceedings, the Company’s management evaluates the perceived merits of any legal proceedings or unasserted claims as well as the perceived merits of the amount of relief sought or expected to be sought. Management applies the guidance in ASC 450-20-25 when assessing losses resulting from contingencies. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability is recorded as accrued expenses in the Company’s financial statements. If the assessment indicates that a potential material loss contingency is not probable but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material are disclosed. Loss contingencies considered to be remote by management are generally not disclosed unless they involve guarantees, in which case the guarantees are disclosed.
Share-based compensation	Share-based compensation The Company accounts for employees’ and directors’ share-based payment awards classified as equity awards using the grant-date fair value method. The fair value of share-based payment transactions is recognized as an expense over the requisite service period using the straight-line method. Forfeitures are recognized as they occur. Share-based payments related to the employee share purchase plan (“ESPP”) are recognized based on the fair value of each award estimated on the first day of the offering period and recognized as an expense over the offering period using the straight-line method. The Company elected to recognize compensation costs for awards conditioned only on continued service that have a graded vesting schedule using the straight-line method.
Revenue recognition	Revenue recognition The Company accounts for its revenue transactions under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers. In accordance with ASC Topic 606, the Company recognizes revenues when its customers obtain control of its product for an amount that reflects the consideration it expects to receive from its customers in exchange for that product. To determine revenue recognition for contracts that are determined to be in scope of ASC Topic 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once the contract is determined to be within the scope of ASC Topic 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when such performance obligation is satisfied. As a result of the disposition of the MST Franchise in January 2022, the Company no longer has any revenue generating products; however, it still receives certain royalty revenues (see Note 4 Discontinued Operations). Royalty Revenues and Collaboration Agreements The Company is entitled to royalty payments with respect to sales of a product developed by a customer in collaboration with the Company. Royalties are recognized as the products are sold by the customer. Revenues in the amount of $0.5 million and $0.9 million were recorded during the year ended December 31, 2022 and 2021, respectively. For collaboration agreements under ASC 606, the Company identifies the contract, identifies the performance obligations, determines the transaction price, allocates the contract transaction price to the performance obligations, and recognizes the revenue when (or as) the performance obligation is satisfied. The Company identifies the performance obligations included within the agreement and evaluate which performance obligations are distinct. Upfront payments for licenses are evaluated to determine if the license is capable of being distinct from the obligations to participate on certain development and/or commercialization committees with the collaboration partners and supply manufactured drug product for clinical trials. For performance obligations that are satisfied over time, the Company utilizes the input method and revenue is recognized by consistently applying a method of measuring progress toward complete satisfaction of that performance obligation. The Company periodically review our estimated periods of performance based on the progress under each arrangement and account for the impact of any changes in estimated periods of performance on a prospective basis. Milestone payments are a form of variable consideration as the payments are contingent upon achievement of a substantive event. Milestone payments are estimated and included in the transaction price when the Company determines that it is probable that there will not be a significant reversal of cumulative revenue recognized in future periods. Product Revenues, net The Company’s net product revenues were generated through sales of AMZEEQ, which was approved by the FDA in October 2019 and was commercially launched in the United States in January 2020, and ZILXI, which was approved by the FDA in May 2020 and was commercially launched in the United States in October 2020. The Company sold the MST Franchise on January 12, 2022 and, as such, the Company no longer generates revenue from the sale of these products. The following is a description of the Company's accounting policies related to the sales of AMZEEQ and ZILXI. Product sales The Company’s customers were a limited number of national and select regional wholesalers (the “distributors”) and certain independent and specialty pharmacies (together, the “customers”). These distributors would subsequently resell the product, primarily to retail pharmacies that dispense the product to patients. Net product revenue was typically recognized when customers obtained control of the Company’s products, which occurred at a point in time, typically upon delivery of product to the customers. The Company evaluated the creditworthiness of its customers to determine whether it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur. The Company did not assess whether a contract had a significant financing component if the expectation was such that the period between the transfer of the promised goods to the customer and the receipt of payment would be less than one year. Standard credit terms did not exceed 75 days. The Company expensed incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that would have been recognized is one year or less or the amount is immaterial. Shipping and handling costs related to the Company’s product sales were included in selling, general and administrative expenses. Product revenue is recorded net of distribution fees, trade discounts, allowances, rebates, copay program coupons, chargebacks, estimated returns and other incentives. These reserves are classified as either reductions of accounts receivable or as current liabilities. The estimates of reserves established for variable consideration reflect contractual and statutory requirements, known market events and trends, industry data and forecasted customer mix. The transaction price, which includes variable consideration reflecting the impact of discounts and allowances, may be subject to constraint and is included in the net product revenues only to the extent that it is probable that a significant reversal of the amount of the cumulative revenues recognized will not occur in a future period. Actual amounts may ultimately differ from these estimates. If actual results vary, estimates may be adjusted in the period such change in estimate becomes known, which could have an impact on earnings in the period of adjustment. Product Sales Provisions Provisions for distribution fees, trade discounts and chargebacks are reflected as a reduction to trade receivables, net on the consolidated balance sheet. All other provisions, including rebates, other discounts and return provisions are reflected as a liability within accrued expenses on the consolidated balance sheet. Provisions for revenue reserves reduced product revenues by $62.9 million for the year ended December 31, 2021. The revenue reserve accrual was $2.7 million and $5.5 million as of December 31, 2022 and December 31, 2021, respectively and was reflected in accrued expenses in the consolidated balance sheet. Actual amounts may ultimately differ from these estimates. If actual results vary, estimates may be adjusted in the period such change in estimate becomes known, which could have an impact on earnings in the period of adjustment. Distribution Fees and Trade Discounts and Allowances The Company paid fees for distribution services and for certain data that distributors provide to the Company and generally provided discounts on sales to its distributors for prompt payment. These fees and discounts are contractual in nature and the Company expects its distributors to earn these fees and discounts, and accordingly deducts the full amount of these fees and discounts from its gross product revenues at the time such revenues are recognized. Rebates, Chargebacks and Other Discounts Product sales made under managed-care and governmental pricing programs in the U.S. are subject to rebates. Managed Care rebates relate to contractual agreements to sell products to managed care organizations and pharmacy benefit managers at contractual rebate percentages in exchange for volume and/or market share. Chargebacks relate to contractual agreements to sell products to government agencies and other indirect customers at contractual prices that are lower than the list prices the Company charges wholesalers. When these government agencies or other indirect customers purchase products through wholesalers at these reduced prices, the wholesaler charges the Company for the difference between the prices they paid the Company and the prices at which they sold the products to the indirect customers. The Company estimates the rebates and chargebacks it expects to be obligated to provide and deducts these estimated amounts from its gross product revenue at the time the revenue is recognized. The Company estimates the rebates and chargebacks that it expects to be obligated to provide based upon (i) the Company's current contracts and negotiations, (ii) estimates regarding the payer mix based on third-party data and utilization, (iii) inventory held by distributors and (iv) estimates of inventory held at the retail channel. Other discounts include the Company’s co-pay assistance coupon programs for commercially-insured patients meeting certain eligibility requirements. The calculation of the accrual for co-pay assistance is based on an estimate of claims and the cost per claim that the Company expects to pay associated with product that has been recognized as revenue. Product Returns Consistent with industry practice, customers are generally allowed to return products within a specified period of time before and after its expiration date. The Company estimates the amount of product that will be returned and deducts these estimated amounts from its gross revenue at the time the revenue is recognized. T he information utilized to estimate the returns provision includes: (i) actual return history (ii) historical return industry information regarding rates for comparable pharmaceutical products and product portfolios , (iii) external data with respect to inventory levels in the wholesale distribution channel, (iv) external data with respect to prescription demand for products and (v) remaining shelf lives of products at the date of sale. Contract Assets and Contract Liabilities The Company did not have any contract assets (unbilled receivables) related to product sales or as of December 31, 2022, as customer invoicing generally occurs before or at the time of revenue recognition. The Company did not have any contract assets (unbilled receivables) related to its license revenues as of December 31, 2022 or 2021. The Company did not have any contract liabilities as of December 31, 2022 or 2021, as the Company did not receive payments in advance of fulfilling its performance obligations to its customers. Sales Commissions Sales commissions are generally attributed to periods shorter than one year and therefore are expensed when incurred. Sales commissions are included in discontinued operations.
Collaboration arrangements	Collaboration arrangements The Company analyzes its collaboration arrangements to assess whether they are within the scope of ASC Topic 808, Collaborative Arrangements
Research and development costs	Research and development costsResearch and development expenses include costs directly attributable to the conduct of research and development programs, including the cost of clinical trials, clinical trial supplies, salaries, share-based compensation expenses, payroll taxes and other employee benefits, lab expenses, consumable equipment and consulting fees. All costs associated with research and developments are expensed as incurred.
Income taxes	Income taxes: • Deferred taxes Income taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is recognized to the extent that it is more likely than not that the deferred taxes will not be realized in the foreseeable future. Given the Company’s losses, the Company has provided a full valuation allowance with respect to its deferred tax assets. • Uncertainty in income tax The Company follows a two-step approach in recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates that it is more likely than not that the position will be sustained based on technical merits. If this threshold is met, the second step is to measure the tax position as the largest amount that has more than a 50% likelihood of being realized upon ultimate settlement.
Loss per share	Loss per share Net loss per share, basic and diluted, is computed on the basis of the net loss from continuing operations for the period divided by the weighted average number of common shares outstanding during the period. Diluted net loss per share is based upon the weighted average number of common stock and of common stock equivalents outstanding when dilutive. Common stock equivalents include outstanding stock options and warrants which are included under the treasury share method when dilutive. The following stock options, restricted stock units (“RSUs”) and warrants were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (share data): Year ended December 31, 2022 2021 Outstanding share options and RSUs 313,403 294,797 Warrants 27,509 27,509
Fair value measurement	Fair value measurement Fair value is based on the price that would be received from the sale of an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, the guidance establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data or active market data of similar or identical assets or liabilities. Level 3: Unobservable inputs are used when little or no market data is available. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and considers counterparty credit risk in its assessment of fair value.
Discontinued operations	Discontinued Operations The Company accounted for the sale of the MST Franchise in accordance with ASC 205, Discontinued Operations, and ASU No. 2014-08, Reporting of Discontinued Operations and Disclosures of Disposals of Components of an Entity . The Company followed the held-for-sale criteria as defined in ASC 360 Property, Plant and Equipment and ASC 205. ASC 205 requires that a component of an entity that has been disposed of or is classified as held for sale and has operations and cash flows that can be clearly distinguished from the rest of the entity be reported as assets held for sale and discontinued operations. In the period a component of an entity has been disposed of or classified as held for sale, the results of operations for the periods presented are reclassified into separate line items in the consolidated statements of operations. Assets and liabilities are also reclassified into separate line items on the related consolidated balance sheets for the periods presented. Non-cash items presented in the statement of cash flows and related to discontinued operations are presented in Note 4 - Discontinued Operations. ASU 2014-08 requires that only a disposal of a component of an entity, or a group of components of an entity, that represents a strategic shift that has, or will have, a major effect on the reporting entity’s operations and financial results be reported in the consolidated financial statements as discontinued operations. ASU 2014-08 also provides guidance on the financial statement presentations and disclosures of discontinued operations. Due to the sale of the MST Franchise during the first quarter of 2022, in accordance with ASC 205, the Company has classified the results of the MST Franchise as discontinued operations in its consolidated statements of operations and cash flows for all periods presented, see Note 4, Discontinued Operations. All disposed assets and liabilities associated with the MST Franchise were therefore classified as assets and liabilities of discontinued operations in the Company's consolidated balance sheets for the periods presented. All amounts included in the notes to the consolidated financial statements relate to continuing operations unless otherwise noted.
Concentration of credit risks	Concentration of credit risksFinancial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents, restricted cash, marketable securities and accounts receivables. The Company deposits cash and cash equivalents with highly rated financial institutions and, as a matter of policy, limits the amounts of credit exposure to any single financial institution. In addition, all marketable securities carry a high rating or are government insured. The Company has not experienced any material credit losses in these accounts and does not believe it is exposed to significant credit risk on these instruments.
Comprehensive loss	Comprehensive lossFor the years ended December 31, 2022 and 2021, comprehensive loss was equal to the net loss as presented in the accompanying consolidated statements of operations.
Newly issued and recently adopted accounting pronouncements	Newly issued and recently adopted accounting pronouncements : Recent Accounting Guidance Issued: In June 2016, the FASB issued Accounting Standards Update No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ” (ASU 2016-13), which requires companies to measure credit losses of financial instruments, including customer accounts receivable, utilizing a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Subsequent to the issuance of ASU 2016-13, the FASB issued several additional Accounting Standard Updates to clarify implementation guidance, provide narrow-scope improvements and provide additional disclosure guidance. As a smaller reporting company, the Company will adopt ASU 2016-13 effective January 1, 2023. Currently, the Company does not expect the adoption of the new standard to have a material impact to the consolidated financial statements. In December 2019, the FASB issued Accounting Standards Update No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes," which clarifies and simplifies certain aspects of the accounting for income taxes. The standard is effective for years beginning after December 15, 2020, and interim periods beginning after December 15, 2020. This guidance became effective during the first quarter of 2021. The adoption of the new standard did not have a material impact to the Company's consolidated financial statements. In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2020-04, " Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting " (ASU 2020-04), which provides guidance to alleviate the burden in accounting for reference rate reform by allowing certain expedients and exceptions in applying generally accepted accounting principles to contracts, hedging relationships, and other transactions impacted by reference rate reform. The provisions of ASU 2020-04 apply only to those transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform. Adoption of the provisions of ASU 2020-04 are optional and are effective from March 12, 2020 through December 31, 2022. In December 2022, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2022-06, " Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848" (ASU 2022-06), which provides extension of the sunset date of Topic 848 from December 31, 2022, to December 31, 2024. The Company is currently evaluating the impact of ASU 2020-04 and ASU 2022-06 on its consolidated financial statements. Currently, the Company does not expect the adoption of the new standard to have a material impact to the consolidated financial statements. In August 2020, the FASB issued ASU No. 2020-06, “ Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ” (“ASU 2020-06”), which simplifies the accounting for convertible instruments by eliminating the requirement to separately account for embedded conversion features as an equity component in certain circumstances. A convertible debt instrument will be reported as a single liability instrument with no separate accounting for an embedded conversion feature unless separate accounting is required for an embedded conversion feature as a derivative or under the substantial premium model. The ASU simplifies the diluted earnings per share calculation by requiring that an entity use the if-converted method and that the effect of potential share settlement be included in diluted earnings per share calculations. Further, the ASU requires enhanced disclosures about convertible instruments. The Company adopted ASU 2020-06 as of January 1, 2022 and there was no material impact on the consolidated financial statements upon adoption.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Useful Lives of Property, Plant, and Equipment	Annual rates of depreciation are as follows: Estimated Useful Life Computers 3 - 7 years Laboratory equipment 5 - 14 years Office furniture and equipment 7 - 14 years December 31, 2022 2021 Cost: Leasehold improvements $ — $ 59 Computers and software — 374 Laboratory equipment — 53 Furniture — 419 — 905 Less: Accumulated depreciation and amortization — 551 Property and Equipment, net $ — $ 354
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following stock options, restricted stock units (“RSUs”) and warrants were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (share data): Year ended December 31, 2022 2021 Outstanding share options and RSUs 313,403 294,797 Warrants 27,509 27,509

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations of the MST Franchise	The following table presents the combined results of discontinued operations of the MST Franchise: Year ended December 31, (in thousands) 2022 2021 Product sales, net $ (1,844) $ 13,824 Cost of goods sold 80 3,348 Operating expenses: Research and development — 5,415 Selling, general and administrative 259 34,182 Total operating expenses 259 39,597 Loss from discontinued operations (2,183) (29,121) Gain on the sale of the MST Franchise 12,918 — Income (loss) from discontinued operations, before income taxes 10,735 (29,121) Income tax expense — — Net income (loss) from discontinued operations $ 10,735 $ (29,121) The following table presents the carrying amounts of the classes of assets related to the discontinued operations of the MST Franchise as of December 31, 2021: (in thousands) December 31, 2021 Current assets: Inventory $ 7,291 Prepaid expenses and other assets 554 Total current assets of discontinued operations $ 7,845 Year ended December 31, (in thousands) 2022 2021 Cash Flows From Operating Activities: Stock-based compensation (income) expense* $ (352) $ 1,123 Gain on the sale of the MST Franchise (12,918) — Total non-cash items of discontinued operations $ (13,270) $ 1,123 Supplemental disclosure of cash flow information: Amount due from sale of MST Franchise $ 5,000 $ — *Income from stock-based compensation is related to forfeitures. The following table presents the gain on the sale of the MST Franchise: (in thousands) Year ended December 31, 2022 Cash proceeds 20,000 Proceeds paid in January 2023 5,000 25,000 Less transaction costs (4,334) Less carrying value of assets sold (7,748) Gain on sale, before income taxes 12,918 Income tax expense — Gain on sale net of tax $ 12,918

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property And Equipment	Annual rates of depreciation are as follows: Estimated Useful Life Computers 3 - 7 years Laboratory equipment 5 - 14 years Office furniture and equipment 7 - 14 years December 31, 2022 2021 Cost: Leasehold improvements $ — $ 59 Computers and software — 374 Laboratory equipment — 53 Furniture — 419 — 905 Less: Accumulated depreciation and amortization — 551 Property and Equipment, net $ — $ 354

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Schedule of Components of Accrued Expenses	Accrued expenses consisted of the following: December 31, 2022 2021 Product sales provisions $ 2,695 $ 5,489 Professional services 519 1,213 Research and development 987 969 Commercialized product accruals — 596 Other 180 326 Total Accrued Expenses $ 4,381 $ 8,593

OPERATING LEASE (Tables)

OPERATING LEASE (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Operating Lease Cost	Operating lease costs for the year ended December 31, 2022 are as follows: (in thousands) Year Ended December 31 Year Ended December 31 Office lease expenses $ 297 $ 357

MEZZANINE AND SHAREHOLDERS' E_2

MEZZANINE AND SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2022
Stockholders' Equity Note [Abstract]
Schedule Of Common Shares Reserved For Future Issuances	The Company had reserved shares of common stock for future issuance as follows: Year ended December 31, 2022 Common stock options outstanding (Note 12) 229,787 Shares available for grant under the Employee Stock Purchase Plan (Note 12) 116,463 Outstanding restricted stock units (Note 12) 83,616 Shares available for future grant under 2018 and 2019 Plans (Note 12) 72,148 Shares reserved for conversion of Series A Convertible Preferred Stock* 64,102 Shares underlying outstanding warrants 27,509 593,625 *The Series A Convertible Preferred Stock was fully redeemed on January 17, 2023.

SHARE BASED COMPENSATION (Table

SHARE BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of share-based compensation awards granted for options and RSUs during the period	In the years ended December 31, 2022 and 2021, the Company granted options and RSUs as follows: Year ended December 31, 2022 Award amount Exercise price range Vesting period Expiration Employees and Directors: Options 48,861 $5.62- $10.98 1 year - 4 years 10 years RSU 40,339 — 4 years — Year ended December 31, 2021 Award amount Exercise price range Vesting period Expiration Employees and Directors: Options 93,689 $30.24- $199.44 1 year - 4 years 10 years RSU 53,934 — 2 years - 4 years —
Summary of underlying data used for computing the fair value of the options	The underlying data used for computing the fair value of the options are as follows: Year ended December 31, 2022 2021 Fair value of stock option $3.55-$7.49 $18.36-$121.50 Dividend yield 0 % 0 % Expected volatility 73.70%-74.40% 68.38%-69.38% Risk-free interest rate 2.20%-2.92% 0.50%-1.29% Expected term 6 years 6 years
Summary of the number of options outstanding	The following table summarizes the number of options outstanding for the year ended December 31, 2022, and related information: Number of options Weighted Average Exercise Price Outstanding at December 31, 2021 224,664 $ 165.12 Granted 48,861 10.35 Forfeited (26,234) 102.28 Expired (17,504) 157.35 Outstanding at December 31, 2022 229,787 $ 138.92 Exercisable at December 31, 2022 145,272 $ 182.66
Summary of the number of RSUs outstanding	The following table summarizes the number of RSUs outstanding for the year ended December 31, 2022: Number of RSUs Outstanding at December 31, 2021 70,133 Awarded 40,339 Vested (13,375) Forfeited (13,481) Outstanding at December 31, 2022 83,616
Summary of share-based compensation expenses	The following table illustrates the effect of share-based compensation on the statements of operations: Year ended December 31, 2022 2021 Research and development expenses 1,230 1,714 Selling, general and administrative 3,419 5,243 Discontinued Operations* (352) 1,123 4,297 8,080 *Income from stock-based compensation is related to forfeitures.

INCOME TAX (Tables)

INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Loss Before Income Tax Taxes and Current Tax Expense (Benefit)	The income (loss) before income taxes and the related tax expense (benefit) is as follows: Year ended December 31, (in thousands) 2022 2021 Income (loss) before income taxes: Domestic $ (23,472) $ (69,196) Foreign 279 (4,581) Total loss before taxes $ (23,193) $ (73,777) Current taxes: Federal $ — $ (456) State 13 8 Total current taxes $ 13 $ (448)
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of income taxes at the U.S. federal statutory rate to the provision for income taxes is as follows: Year ended December 31, 2022 2021 Federal income tax provision at statutory rate 21.00 % 21.00 % State income tax provision, net of federal benefit (0.04) % (0.01) % Permanent differences (1.52) % — % Change in valuation allowances (19.49) % (20.27) % Other — % (0.11) % Effective income tax rate (0.05) % 0.61 %
Schedule of deferred tax assets and liabilities	The significant components of the Company's deferred tax assets and liabilities are as follows: December 31, (in thousands) 2022 2021 Deferred tax assets: Net operating loss carry forward $ 72,903 $ 73,259 Tax credit carryforwards 7,794 7,905 Section 174 expenses 3,529 — Share based compensation 2,061 3,281 Accrued expenses and other 586 1,226 Total gross deferred tax assets 86,873 85,671 Less - valuation allowance (86,873) (85,555) Total deferred tax assets, net of valuation allowance Deferred tax liabilities: Other — (40) Right of use assets — (76) Total gross deferred tax liabilities — (116) Net deferred tax assets $ — $ —
Schedule of Unrecognized Tax Benefits Roll Forward	The following table summarizes the activity of the Company unrecognized tax benefits (in thousands): Balance at January 1, 2021 $ 3,083 Additions for prior year positions — Additions for current year positions 172 Reductions related to expiration of statute of limitations (456) Balance at December 31, 2021 $ 2,799 Additions for prior year positions — Additions for current year positions 55 Reductions related to expiration of statute of limitations — Balance at December 31, 2022 $ 2,854

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details)			12 Months Ended
	Mar. 31, 2022 USD ($)	Mar. 15, 2022 USD ($)	Dec. 31, 2022 USD ($) segment $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Jul. 19, 2021 $ / shares shares	Jul. 18, 2021 shares	Feb. 12, 2021 shares	Feb. 11, 2021 shares
Subsequent Event [Line Items]
Number of reportable segments | segment			1
Common stock, shares authorized (in shares) | shares			150,000,000	75,000,000	150,000,000	75,000,000	75,000,000
Common stock, par value (in dollars per share) | $ / shares			$ 0.0001	$ 0.0001	$ 0.0001
Net loss			$ (23,210,000)	$ (73,329,000)
Cash used in operations			(29,200,000)	(56,367,000)
Income (loss) from discontinued operations, net of income taxes			10,735,000	(29,121,000)
Loss from continuing operations			(33,945,000)	(44,208,000)
Cash and investments			31,000,000
Accumulated deficit			662,735,000	639,525,000
Additional paid-in capital			693,937,000	688,156,000
Debt outstanding			0
Lincoln Park Equity Purchase Agreement
Subsequent Event [Line Items]
Consideration receivable on transaction	$ 30,000,000	$ 30,000,000
Term of equity purchase agreement	36 months	36 months
Sale of stock, public float threshold			75,000,000
Discontinued Operations, Disposed of by Sale | MST Franchise
Subsequent Event [Line Items]
Income (loss) from discontinued operations, net of income taxes			10,735,000	$ (29,121,000)
Additional paid-in capital			$ 5,000,000
Menlo - Premerger
Subsequent Event [Line Items]
Common stock, shares authorized (in shares) | shares								300,000,000

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jan. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Restricted cash	$ 100,000
Provisions for doubtful accounts	0	$ 0
Revenues	477,000	931,000
Product sales provisions		62,900,000
Revenue reserve accrual	2,695,000	5,489,000
Other receivables	5,200,000
Restricted cash	67,000	605,000
Level 1
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Cash equivalents	28,000,000	29,500,000
Subsequent Event
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Additional consideration receivable			$ 5,000,000
Royalty revenues
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Revenues	$ 477,000	$ 931,000

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Estimated Useful Life (Details)	12 Months Ended
	Dec. 31, 2022
Computers | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Computers | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Laboratory equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Laboratory equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	14 years
Office furniture and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Office furniture and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	14 years

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Antidilutive Equity Awards Not Included in the Calculation of EPS (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Outstanding share options and RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	313,403	294,797
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	27,509	27,509

SIGNIFICANT ACCOUNTING POLICI_7

SIGNIFICANT ACCOUNTING POLICIES - Concentrations of Credit Risks (Details) - Customers	12 Months Ended
	Dec. 31, 2021
Revenue Benchmark | Customer A
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk, percentage	17%
Revenue Benchmark | Customer B
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk, percentage	15%
Revenue Benchmark | Customer C
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk, percentage	9%
Accounts Receivable | Three Largest Customers
Fair Value, Concentration of Risk, Financial Statement Captions [Line Items]
Concentration risk, percentage	58%

STRATEGIC AGREEMENTS (Details)

STRATEGIC AGREEMENTS (Details) £ in Thousands				12 Months Ended
	Feb. 28, 2023 USD ($)	Jan. 12, 2022 USD ($)	Aug. 06, 2021 USD ($)	Dec. 31, 2022 USD ($) employee	Dec. 31, 2021 USD ($)	Jan. 31, 2023 USD ($)	Aug. 29, 2022 USD ($)	Aug. 29, 2022 GBP (£)	Jun. 28, 2022 USD ($)	Jun. 28, 2022 GBP (£)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Milestone payments receivable upon achievement of net sales		$ 450,000,000
Milestone payments upon achieving certain criteria, exceeding annual net sales		$ 100,000,000
Number of employees terminated | employee				70
Restructuring charges					$ 1,600,000
Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional consideration receivable						$ 5,000,000
Milestone payments upon achieving certain criteria, maximum	$ 43,750,000
Oral BETi Option Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
First payments for licensing agreements									$ 386,366	£ 300
Second payment for licensing agreements							$ 997,407	£ 850
Oral BETi Option Agreement | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
First payments for licensing agreements	4,000,000
Payments for licensing agreements	$ 250,000
Licensing Agreements
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payments for licensing agreements			$ 1,000,000
Topical BETi Option Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payments for licensing agreements			500,000
Milestone payments upon achieving certain criteria, maximum			$ 15,750,000
Royalty payments, percentage			10%
Employee benefits
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges					1,400,000
Retention Payments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges					$ 200,000
Discontinued Operations, Disposed of by Sale | MST Franchise
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds				$ 20,000,000
Discontinued Operations, Disposed of by Sale | MST Franchise | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Additional consideration receivable						$ 5,000,000

DISCONTINUED OPERATIONS - Disco

DISCONTINUED OPERATIONS - Discontinued Operations of the MST Franchise (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]	Net income (loss) from discontinued operations
Net income (loss) from discontinued operations	$ 10,735	$ (29,121)
Discontinued Operations, Disposed of by Sale | MST Franchise
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cost of goods sold	80	3,348
Research and development	0	5,415
Selling, general and administrative	259	34,182
Total operating expenses	259	39,597
Loss from discontinued operations	(2,183)	(29,121)
Gain on the sale of the MST Franchise	12,918	0
Income (loss) from discontinued operations, before income taxes	10,735	(29,121)
Income tax expense	0	0
Net income (loss) from discontinued operations	10,735	(29,121)
Product sales, net | Discontinued Operations, Disposed of by Sale | MST Franchise
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Product sales, net	$ (1,844)	$ 13,824

DISCONTINUED OPERATIONS - Asset

DISCONTINUED OPERATIONS - Assets and Liabilities Related to discontinued operations of the MST Franchise (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Total current assets of discontinued operations	$ 0	$ 7,845
Discontinued Operations, Disposed of by Sale | MST Franchise
Current assets:
Inventory		7,291
Prepaid expenses and other assets		554
Total current assets of discontinued operations		7,845
Raw materials		3,300
Finished goods		$ 4,000

DISCONTINUED OPERATIONS - Non-C

DISCONTINUED OPERATIONS - Non-Cash Items Related to Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Discontinued Operation, Alternative Cash Flow Information [Abstract]
Stock-based compensation (income) expense*	$ 4,297	$ 8,080
Gain on the sale of the MST Franchise	(12,918)	0
Supplemental disclosure of cash flow information:
Amount due from sale of MST Franchise	5,000	0
Discontinued Operations, Disposed of by Sale | MST Franchise
Discontinued Operation, Alternative Cash Flow Information [Abstract]
Stock-based compensation (income) expense*	(352)	1,123
Gain on the sale of the MST Franchise	(12,918)	0
Total non-cash items of discontinued operations	$ (13,270)	$ 1,123

DISCONTINUED OPERATIONS - Gain

DISCONTINUED OPERATIONS - Gain on the Sale of the MST Franchise (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds paid in January 2023	$ 693,937	$ 688,156
Discontinued Operations, Disposed of by Sale | MST Franchise
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash proceeds	20,000
Proceeds paid in January 2023	5,000
Total cash proceeds net	25,000
Less transaction costs	(4,334)
Less carrying value of assets sold	(7,748)
Gain on sale, before income taxes	12,918	$ 0
Income tax expense	0
Gain on sale net of tax	$ 12,918

PROPERTY AND EQUIPMENT - Schedu

PROPERTY AND EQUIPMENT - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 0	$ 905
Accumulated depreciation and amortization	0	551
Property and Equipment, net	0	354
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	0	59
Computers and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	0	374
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	0	53
Furniture
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 0	$ 419

PROPERTY AND EQUIPMENT - Narrat

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation and amortization	$ 72	$ 109
Proceeds from sale of fixed assets	$ 300	$ 100

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Product sales provisions	$ 2,695	$ 5,489
Professional services	519	1,213
Research and development	987	969
Commercialized product accruals	0	596
Other	180	326
Total Accrued Expenses	$ 4,381	$ 8,593

OPERATING LEASE - Narrative (De

OPERATING LEASE - Narrative (Details)		1 Months Ended
	Mar. 13, 2019 USD ($) ft²	Nov. 30, 2022 ft²	Apr. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2019 USD ($)
Operating Lease
Lease payments				$ 300,000
Operating lease liability	$ 700,000
Operating lease, weighted average discount rate, (in percent)					13.10%
Weighted average remaining lease term (in years)					9 months
Lien on marketable securities to secure lease agreements					$ 600,000
Proceeds from release of lien on marketable securities to secure lease agreement			$ 600,000
ISRAEL
Operating Lease
Operating lease right of use assets				$ 0
Operating lease terms				1 year
Operating lease liability				$ 0
Original Space | Bridgewater, New Jersey
Operating Lease
Facility space leased | ft²	10,000	5,755
Operating lease right of use assets	$ 700,000
Additional Space | Bridgewater, New Jersey
Operating Lease
Facility space leased | ft²	4,639
Operating lease right of use assets						$ 300,000
Operating lease liability						$ 300,000

OPERATING LEASE - Schedule of O

OPERATING LEASE - Schedule of Operating Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Office Building
Operating Lease
Office lease expenses	$ 297	$ 357

EMPLOYEE SAVINGS PLAN (Details)

EMPLOYEE SAVINGS PLAN (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Company contributions to 401(k) plans	$ 0.1	$ 0.4

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details)		12 Months Ended
	Aug. 11, 2021 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Mar. 09, 2020 $ / shares shares	Dec. 17, 2019 USD ($)	Jul. 29, 2019 USD ($) lender $ / shares shares
Debt Instrument [Line Items]
Prepayment fee, percentage	4%
Debt repayment	$ 36,500,000	$ 0	$ 36,432,000
Debt outstanding		$ 0
Principal amount, interest and prepayment premium	$ 18,300,000
Warrants issued
Outstanding warrants to purchase common stock (in shares) | shares		27,509	27,509
Warrant exercise price (in dollars per share) | $ / shares		$ 76.78
Debt offering expenses
Interest expense		$ 0	$ 5,610,000
Interest expense debt			3,800,000
Discount cost			1,800,000
Debt prepayment fee			1,400,000
Write off of deferred financing cost			1,600,000
Gain (loss) on extinguishment of debt			$ (3,000,000)
Credit Agreement
Debt Instrument [Line Items]
Number of lenders involved | lender						2
Amended and Restated Credit Agreement, Trench 1 Loan
Debt Instrument [Line Items]
Debt instrument, face amount						$ 15,000,000
Amended and Restated Credit Agreement, Trench 2 Loan
Debt Instrument [Line Items]
Debt instrument, face amount					$ 20,000,000
Amended And Restated Credit Agreement
Debt Instrument [Line Items]
Base interest rate		8.25%
Debt instrument fee as a percent of the aggregate principal amount		1%
Amended And Restated Credit Agreement | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.75%
Shareholder Lender | Foamix
Warrants issued
Outstanding warrants to purchase common stock (in shares) | shares				36,202		61,111
Warrant exercise price (in dollars per share) | $ / shares		$ 76.78		$ 63.54		$ 37.62
Shareholder Lender | Credit Agreement
Debt Instrument [Line Items]
Borrowing capacity						$ 50,000,000
Shareholder Lender | Registered Offering Per Securities Purchase Agreement
Debt Instrument [Line Items]
Number of lenders involved | lender						1
Gross proceeds from issuance of common stock						$ 14,000,000

MEZZANINE AND SHAREHOLDERS' E_3

MEZZANINE AND SHAREHOLDERS' EQUITY - Common Stock, Preferred Stock, and Warrants Narrative (Details)												1 Months Ended	12 Months Ended
	Feb. 10, 2023	Jan. 17, 2023 USD ($) shares	Nov. 14, 2022 USD ($) d $ / shares shares	Nov. 11, 2022 vote	Mar. 31, 2022 USD ($)	Mar. 15, 2022 USD ($) shares	Aug. 12, 2021 USD ($)	Feb. 12, 2021 shares	Feb. 10, 2021	Jan. 26, 2021 USD ($) $ / shares shares	Feb. 01, 2019 USD ($)	Jan. 25, 2021 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) vote $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Jul. 19, 2021 $ / shares shares	Jul. 18, 2021 shares	Dec. 31, 2020 USD ($) shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares) | shares													20,000,000	0
Preferred stock, par value (in dollars per share) | $ / shares													$ 0.0001	$ 0.0001
Preferred stock, shares outstanding (in shares) | shares													3,000	0			0
Payments of stock issuance costs | $														$ 3,177,000
Convertible Preferred Stock: $0.0001 par value; 20,000,000 and 0 shares authorized at December 31, 2022 and December 31, 2021, respectively; Series A Preferred Stock: 3,000 and 0 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively (Note 11) | $													$ 211,000	$ 0			$ 0
Reverse stock split ratio								0.25	0.25
Common stock, shares authorized (in shares) | shares								75,000,000					150,000,000	75,000,000	150,000,000	75,000,000
Common stock, par value (in dollars per share) | $ / shares													$ 0.0001	$ 0.0001	$ 0.0001
Outstanding warrants to purchase common stock (in shares) | shares													27,509	27,509
Warrant exercise price (in dollars per share) | $ / shares													$ 76.78
Proceeds from issuance from secondary offering | $													$ 1,470,000	$ 75,981,000
Subsequent Event
Class of Stock [Line Items]
Redemption price (percent)		120%
Reverse stock split ratio	0.0555
Cantor Sales Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares) | shares												154,334	143,770	108,629
Consideration received in a transaction | $											$ 50,000,000
Commission from gross proceeds from issuance of common stock							3,000%				3%
Price per share (in dollars per share) | $ / shares												$ 175.68	$ 11.16	$ 28.26
Proceeds from issuance from secondary offering | $												$ 26,300,000	$ 1,500,000	$ 2,900,000
Consideration receivable on transaction | $							$ 50,000,000
Registered Direct Offering
Class of Stock [Line Items]
Number of shares issued in transaction (in shares) | shares										293,015
Consideration received in a transaction | $										$ 46,800,000
Price per share (in dollars per share) | $ / shares										$ 170.64
Lincoln Park Equity Purchase Agreement
Class of Stock [Line Items]
Number of shares issued in transaction (in shares) | shares						92,644							0
Consideration receivable on transaction | $					$ 30,000,000	$ 30,000,000
Term of equity purchase agreement					36 months	36 months
Consideration receivable on additional transaction | $						$ 900,000
Common stock
Class of Stock [Line Items]
Number of votes entitled to each ordinary share | vote													1
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares) | shares			3,000
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.0001
Preferred stock, shares issued (in shares) | shares													3,000	0
Preferred stock, shares outstanding (in shares) | shares													3,000	0
Preferred stock, par value (in dollars per share) | $ / shares			$ 0.1000
Number of shares issued in transaction (in shares) | shares			3,000
Preferred stock, value, subscriptions | $			$ 300,000										$ 211,000
Number of votes | vote				1,000,000
Preferred stock, conversion Price | $ / shares			$ 4.68
Number of business days for conversion at option of holder after proposal approval or satisfaction of Nasdaq listing requirements | d			15
Redemption price (percent)			120%
Stock right of redemption by holder following expiration of company redemption period, percent of stated value (percent)			130%
Number of business days in automatic redemption period following delisting event | d			5
Redemption price of shares after delisting, percent of stated value (Percent)				130%
Series A Preferred Stock | Subsequent Event
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares) | shares		3,000
Preferred stock, redemption amount | $		$ 360,000
Convertible Preferred Stock
Class of Stock [Line Items]
Payments of stock issuance costs | $													$ 89,000

MEZZANINE AND SHAREHOLDERS' E_4

MEZZANINE AND SHAREHOLDERS' EQUITY - Common Stock for Future Issuance (Details)	Dec. 31, 2022 shares
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	593,625
Shareholder Lender | Foamix
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	27,509
RSU
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	83,616
ESPP
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	116,463
2018-2019 Plan
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	72,148
Common stock
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	229,787
Series A Convertible Preferred Stock
Class of Stock [Line Items]
Shares reserved for future issuance (in shares)	64,102

SHARE BASED COMPENSATION - Narr

SHARE BASED COMPENSATION - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Jan. 31, 2022 shares	Apr. 06, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)	593,625
Number of common stock issued per vesting RSU (in shares)	1
Number of common stock issued per CSR (in shares)				1.2082
Effective exchange ratio of Foamix ordinary shares into Menlo common stock				1.8006
Weighted average remaining contractual term of outstanding options	6 years 6 months
Weighted average remaining contractual term of exercisable options	5 years 6 months
Unrecognized share based compensation expense, options | $	$ 2,900,000
Aggregate intrinsic value of options outstanding | $	0
Aggregate intrinsic value of exercisable options | $	$ 0
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)	83,616
Fair value of options and RSUs granted | $	$ 800,000	$ 9,400,000
Share-based payment cost not yet recognized, weighted average period of recognition (in years)	2 years 1 month 6 days
Unrecognized share-based compensation cost | $	$ 2,900,000
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment cost not yet recognized, weighted average period of recognition (in years)	2 years 1 month 6 days
Employees and consultants | Foamix
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incremental compensation costs incurred | $	$ 200,000	$ 1,800,000
Incremental compensation costs incurred | $	$ 100,000
Incremental compensation costs, recognition period	1 year
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)	229,787
Common stock | Foamix
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during the period (in shares)	7,549	3,994
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)	57,338
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)	14,810
Increase in shares reserved for future issuance (in shares)			41,666
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance (in shares)	116,463
Percentage of fair market value used as purchase price	85%
Percent of annual earnings that may be used to purchase shares	15%

SHARE BASED COMPENSATION - Opti

SHARE BASED COMPENSATION - Options and RSU Grants (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	48,861
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	48,861	93,689
Exercise price range, minimum (in dollars per share)	$ 5.62	$ 30.24
Exercise price range, maximum (in dollars per share)	$ 10.98	$ 199.44
Expiration	10 years	10 years
Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year	1 year
Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years	4 years
RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU, award amount (in shares)	40,339	53,934
RSU | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years	2 years
RSU | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years

SHARE BASED COMPENSATION - Sche

SHARE BASED COMPENSATION - Schedule of Underlying Data Used for Computing the Fair Value of the Options (Details) - Options - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0%	0%
Expected volatility, minimum	73.70%	68.38%
Expected volatility, maximum	74.40%	69.38%
Risk-free interest rate, minimum	2.20%	0.50%
Risk-free interest rate, maximum	2.92%	1.29%
Expected term	6 years	6 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock option	$ 3.55	$ 18.36
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of stock option	$ 7.49	$ 121.50

SHARE BASED COMPENSATION - Summ

SHARE BASED COMPENSATION - Summary of the Number of Options Outstanding Under the Plan (Details) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Number of options
Outstanding at end of period (in shares)		224,664
Granted (in shares)	48,861
Forfeited (in shares)	(26,234)
Expired (in shares)	(17,504)
Outstanding at end of period (in shares)		224,664
Outstanding and exercisable (in shares)	145,272
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 165.12
Granted (in dollars per share)	10.35
Forfeited (in dollars per share)	102.28
Expired (in dollars per share)	157.35
Outstanding at end of period (in dollars per share)	138.92	$ 165.12
Outstanding and exercisable (in dollars per share)	$ 182.66

SHARE BASED COMPENSATION - Su_2

SHARE BASED COMPENSATION - Summary of Number of RSUs Outstanding (Details) - RSU - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of period (in shares)	70,133
Awarded (in shares)	40,339	53,934
Vested (in shares)	(13,375)
Forfeited (in shares)	(13,481)
Outstanding at end of period (in shares)		70,133

SHARE BASED COMPENSATION - Sc_2

SHARE BASED COMPENSATION - Schedule of Share-based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense	$ 4,297	$ 8,080
Research and development expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense	1,230	1,714
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense	3,419	5,243
Discontinued Operations*
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense	$ (352)	$ 1,123

INCOME TAX - Schedule of Income

INCOME TAX - Schedule of Income (Loss) Before Income Tax Taxes and Current Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income (loss) before income taxes:
Total loss before taxes	$ (23,193)	$ (73,777)
Current taxes:
Federal	0	(456)
State	13	8
Total current taxes	13	(448)
Domestic
Income (loss) before income taxes:
Total loss before taxes	(23,472)	(69,196)
Foreign
Income (loss) before income taxes:
Total loss before taxes	$ 279	$ (4,581)

INCOME TAX - Income Tax Reconci

INCOME TAX - Income Tax Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Federal income tax provision at statutory rate	21%	21%
State income tax provision, net of federal benefit	(0.04%)	(0.01%)
Permanent differences	(1.52%)	0%
Change in valuation allowances	(19.49%)	(20.27%)
Other	0%	(0.11%)
Effective income tax rate	(0.05%)	0.61%

INCOME TAX - Narrative (Details

INCOME TAX - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax [Line Items]
Unrecognized Tax Benefits	$ 2,854	$ 2,799	$ 3,083
Deferred tax assets, valuation allowance	86,873	85,555
Increase (decrease) in valuation allowance, deferred tax assets	1,300	$ 15,800
Domestic
Income Tax [Line Items]
Operating loss carryforwards	318,300
Tax credit carryforward	6,600
State and Local Jurisdiction
Income Tax [Line Items]
Operating loss carryforwards	90,400
Tax credit carryforward	$ 1,200

INCOME TAX - Schedule of Deferr

INCOME TAX - Schedule of Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Net operating loss carry forward	$ 72,903	$ 73,259
Tax credit carryforwards	7,794	7,905
Section 174 expenses	3,529	0
Share based compensation	2,061	3,281
Accrued expenses and other	586	1,226
Total gross deferred tax assets	86,873	85,671
Less - valuation allowance	(86,873)	(85,555)
Deferred tax liabilities:
Other	0	(40)
Right of use assets	0	(76)
Total gross deferred tax liabilities	0	(116)
Net deferred tax assets	$ 0	$ 0

INCOME TAX - Schedule of Activi

INCOME TAX - Schedule of Activity of the Company Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the period	$ 2,799	$ 3,083
Additions for prior year positions	0	0
Additions for current year positions	55	172
Reductions related to expiration of statute of limitations	0	(456)
Balance at the end of period	$ 2,854	$ 2,799