Evolus (EOLS) 10-Q 29 Oct 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 26, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-38381
Entity Registrant Name	EVOLUS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-1385614
Entity Address, Address Line One	520 Newport Center Drive Suite 1200
Entity Address, City or Town	Newport Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92660
City Area Code	(949)
Local Phone Number	284-4555
Title of 12(b) Security	Common Stock, par value $0.00001 per share
Trading Symbol	EOLS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		33,749,228
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001570562
Current Fiscal Year End Date	--12-31

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets
Cash and cash equivalents	$ 85,127	$ 109,892
Short-term investments	24,996	19,911
Accounts receivable, net	11,399	10,661
Inventories	4,871	6,407
Prepaid expenses and other current assets	6,007	5,326
Total current assets	132,400	152,197
Property and equipment, net	1,362	902
Operating lease right-of-use assets	3,578	4,068
Intangible assets, net	56,791	59,638
Goodwill	21,208	21,208
Other assets	440	2,429
Total assets	215,779	240,442
Current liabilities
Accounts payable	2,957	5,796
Accrued expenses	6,425	13,960
Contingent royalty obligation payable to Evolus Founders	2,130	3,483
Operating lease liabilities	1,197	1,200
Total current liabilities	12,709	24,439
Contingent royalty obligation payable to Evolus Founders	31,500	41,200
Contingent promissory note payable to Evolus Founders	18,779	17,945
Term loan, net of discounts and issuance costs	73,974	73,508
Convertible note	40,203	0
Operating lease liabilities	3,340	3,893
Deferred tax liability	179	0
Total liabilities	180,684	160,985
Commitments and contingencies (Note 8)
Stockholders’ equity
Preferred stock, $0.00001 par value; 10,000,000 shares authorized; no shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	0	0
Common stock, $0.00001 par value; 100,000,000 shares authorized; 33,749,228 and 33,562,665 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	1	1
Additional paid-in capital	300,469	292,509
Accumulated other comprehensive gain	3	6
Accumulated deficit	(265,378)	(213,059)
Total stockholders’ equity	35,095	79,457
Total liabilities and stockholders’ equity	$ 215,779	$ 240,442

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares, issued (in shares)	33,749,228	33,562,665
Common stock, shares, outstanding (in shares)	33,749,228	33,562,665

Condensed Statements of Operati

Condensed Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue	$ 17,661	$ 13,167	$ 35,963	$ 15,478
Cost of sales (excludes amortization of intangible assets)	4,854	3,718	11,021	4,378
Gross profit	12,807	9,449	24,942	11,100
Operating expenses:
Selling, general and administrative	21,944	30,897	70,796	83,308
Research and development	350	693	1,003	3,555
Revaluation of contingent royalty obligation payable to Evolus Founders	(2,471)	1,795	(9,922)	7,977
Depreciation and amortization	1,744	1,202	5,151	2,664
Restructuring costs	0	0	2,956	0
Total operating expenses	21,567	34,587	69,984	97,504
Loss from operations	(8,760)	(25,138)	(45,042)	(86,404)
Other income (expense):
Interest income	32	460	630	1,464
Interest expense	(2,758)	(2,455)	(7,680)	(5,485)
Loss before income taxes	(11,486)	(27,133)	(52,092)	(90,425)
Income tax expense (benefit)	(27)	(149)	227	(14,899)
Net loss	(11,459)	(26,984)	(52,319)	(75,526)
Other comprehensive gain (loss):
Unrealized gain (loss) on available-for-sale securities, net of tax	(16)	(24)	(3)	19
Comprehensive loss	$ (11,475)	$ (27,008)	$ (52,322)	$ (75,507)
Net loss per share, basic and diluted (in dollars per share)	$ (0.34)	$ (0.98)	$ (1.55)	$ (2.76)
Weighted-average shares outstanding used to compute basic and diluted net loss per share (in shares)	33,748,690	27,470,558	33,734,014	27,403,683
Product revenue, net
Revenue	$ 16,923	$ 13,167	$ 35,225	$ 15,478
Service revenue
Revenue	$ 738	$ 0	$ 738	$ 0

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Preferred StockSeries A Preferred Stock	Common Stock	Additional Paid In Capital	Accumulated Other Comprehensive (Loss) Gain	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2018		0	27,274,991
Beginning balance at Dec. 31, 2018	$ 84,384	$ 0	$ 1	$ 207,408	$ 0	$ (123,025)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with the incentive equity plan (in shares)			10,372
Issuance of common stock in connection with the incentive equity plan	(58)			(58)
Share-based compensation	2,015			2,015
Net loss	(10,975)					(10,975)
Other comprehensive income (loss)	(9)				(9)
Ending balance (in shares) at Mar. 31, 2019		0	27,285,363
Ending balance at Mar. 31, 2019	75,357	$ 0	$ 1	209,365	(9)	(134,000)
Beginning balance (in shares) at Dec. 31, 2018		0	27,274,991
Beginning balance at Dec. 31, 2018	84,384	$ 0	$ 1	207,408	0	(123,025)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(75,526)
Ending balance (in shares) at Sep. 30, 2019		0	27,425,230
Ending balance at Sep. 30, 2019	17,043	$ 0	$ 1	215,574	19	(198,551)
Beginning balance (in shares) at Mar. 31, 2019		0	27,285,363
Beginning balance at Mar. 31, 2019	75,357	$ 0	$ 1	209,365	(9)	(134,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with the incentive equity plan (in shares)			107,641
Issuance of common stock in connection with the incentive equity plan	853			853
Share-based compensation	2,486			2,486
Net loss	(37,567)					(37,567)
Other comprehensive income (loss)	52				52
Ending balance (in shares) at Jun. 30, 2019		0	27,393,004
Ending balance at Jun. 30, 2019	41,181	$ 0	$ 1	212,704	43	(171,567)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with the incentive equity plan (in shares)			32,226
Issuance of common stock in connection with the incentive equity plan	314			314
Share-based compensation	2,556			2,556
Net loss	(26,984)					(26,984)
Other comprehensive income (loss)	(24)				(24)
Ending balance (in shares) at Sep. 30, 2019		0	27,425,230
Ending balance at Sep. 30, 2019	17,043	$ 0	$ 1	215,574	19	(198,551)
Beginning balance (in shares) at Dec. 31, 2019		0	33,562,665
Beginning balance at Dec. 31, 2019	79,457	$ 0	$ 1	292,509	6	(213,059)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with the incentive equity plan (in shares)			165,370
Issuance of common stock in connection with the incentive equity plan	0
Share-based compensation	2,665			2,665
Net loss	(19,735)					(19,735)
Other comprehensive income (loss)	219				219
Ending balance (in shares) at Mar. 31, 2020		0	33,728,035
Ending balance at Mar. 31, 2020	62,606	$ 0	$ 1	295,174	225	(232,794)
Beginning balance (in shares) at Dec. 31, 2019		0	33,562,665
Beginning balance at Dec. 31, 2019	79,457	$ 0	$ 1	292,509	6	(213,059)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(52,319)
Ending balance (in shares) at Sep. 30, 2020		0	33,749,228
Ending balance at Sep. 30, 2020	35,095	$ 0	$ 1	300,469	3	(265,378)
Beginning balance (in shares) at Mar. 31, 2020		0	33,728,035
Beginning balance at Mar. 31, 2020	62,606	$ 0	$ 1	295,174	225	(232,794)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with the incentive equity plan (in shares)			20,443
Issuance of common stock in connection with the incentive equity plan	0
Share-based compensation	2,328			2,328
Net loss	(21,125)					(21,125)
Other comprehensive income (loss)	(206)				(206)
Ending balance (in shares) at Jun. 30, 2020		0	33,748,478
Ending balance at Jun. 30, 2020	43,603	$ 0	$ 1	297,502	19	(253,919)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock in connection with the incentive equity plan (in shares)			750
Issuance of common stock in connection with the incentive equity plan	0
Share-based compensation	2,967			2,967
Net loss	(11,459)					(11,459)
Other comprehensive income (loss)	(16)				(16)
Ending balance (in shares) at Sep. 30, 2020		0	33,749,228
Ending balance at Sep. 30, 2020	$ 35,095	$ 0	$ 1	$ 300,469	$ 3	$ (265,378)

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (52,319,000)	$ (75,526,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,151,000	2,664,000
Stock-based compensation	7,954,000	6,981,000
Provision for bad debts	2,439,000	0
Amortization of discount on short-term investments	(420,000)	(912,000)
Amortization of operating lease right-of-use assets	490,000	702,000
Amortization of debt discount and issuance costs	1,993,000	1,513,000
Paid-in-kind interest on convertible note	203,000	0
Deferred income taxes	179,000	(14,899,000)
Revaluation of contingent royalty obligation payable to Evolus Founders	(9,922,000)	7,977,000
Changes in assets and liabilities:
Inventories	1,536,000	(6,225,000)
Accounts receivable	(3,177,000)	(7,206,000)
Prepaid expenses and other current assets	(681,000)	(1,168,000)
Accounts payable	(2,845,000)	736,000
Accrued expenses	(6,926,000)	8,671,000
Operating lease liabilities	(556,000)	(531,000)
Other assets	1,296,000	(238,000)
Net cash used in operating activities	(55,605,000)	(77,461,000)
Cash flows from investing activities
Purchases of property and equipment	(798,000)	(346,000)
Additions to capitalized software	(2,041,000)	(3,080,000)
Purchases of short-term investments	(74,668,000)	(98,982,000)
Maturities of short-term investments	70,000,000	65,000,000
Net cash used in investing activities	(7,507,000)	(37,408,000)
Cash flows from financing activities
Payment of contingent royalty obligation to Evolus Founders	(1,131,000)	(9,282,000)
Proceeds from issuance of convertible note	40,000,000	0
Milestone payment for intangible assets	0	(2,000,000)
Proceeds from issuance of term loan, net of discounts	0	73,906,000
Payments for debt issuance costs	0	(2,205,000)
Payment for debt obligation	(522,000)	(705,000)
Issuance of common stock in connection with incentive equity plan	0	1,109,000
Net cash provided by financing activities	38,347,000	60,823,000
Change in cash and cash equivalents	(24,765,000)	(54,046,000)
Cash and cash equivalents, beginning of period	109,892,000	93,162,000
Cash and cash equivalents, end of period	85,127,000	39,116,000
Supplemental disclosure of cash flow information
Cash paid for interest	5,443,000	3,365,000
Non-cash investing and financing information:
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	0	5,566,000
Landlord paid tenant improvements	0	781,000
Financed D & O insurance payment	0	1,561,000
Capitalized software recorded in accounts payable and accrued expenses	81,000	147,000
Accrued offering costs, unpaid	$ 0	$ 1,000,000

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Description of Business Evolus, Inc., (“Evolus” or the “Company”) is a performance beauty company focused on delivering products in the self-pay aesthetic market. The Company received the approval of its first product Jeuveau ® (prabotulinumtoxinA-xvfs) from the U.S. Food and Drug Administration (the “FDA”) in February 2019. The product was also approved by Health Canada in August 2018 and the European Commission (“EC”) in September 2019. Jeuveau ® is a proprietary 900 kDa purified botulinum toxin type A formulation indicated for the temporary improvement in the appearance of moderate to severe glabellar lines, also known as “frown lines,” in adults. The Company commercially launched Jeuveau ® in the United States in May 2019 and in Canada through a distribution partner in October 2019. The Company currently generates all of its net revenues from Jeuveau ® . The Company is headquartered in Newport Beach, California. Liquidity and Financial Condition The accompanying unaudited condensed financial statements have been prepared on a basis that assumes that the Company will continue as a going concern, and do not include any adjustments that may result from the outcome of this uncertainty. This basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of the Company’s liabilities and commitments in the normal course of business and does not include any adjustments to reflect the possible future effects of the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. Since inception, the Company has incurred recurring net operating losses. The Company has recorded net losses of $11,459 and $52,319 for the three and nine months ended September 30, 2020. Additionally, the Company used cash of $55,605 in operations during the nine months ended September 30, 2020. As of September 30, 2020, the Company had $85,127 in cash and cash equivalents plus $24,996 in short-term investments, long-term debt of $132,956 and an accumulated deficit of $265,378. The Company’s ability to generate revenue, execute on its business strategy, meet its future liquidity requirements, and achieve profitable operations, is dependent on a number of factors, including the outcome of the International Trade Commission (“ITC”) action, its ability to maintain compliance with debt covenants and avoid an event of default under its credit facility, including as a result of a negative final determination in its International Trade Commission (“ITC”) action, the outcome of its ongoing litigation including the ITC action as discussed below, its ability to gain and expand market acceptance of its product and achieve a level of revenues adequate to support its cost structure, its ability to maintain regulatory approval of its product, and its ability to operate its business and sell products without infringing third party intellectual property rights. The Company believes that its current capital resources, which consist of cash, cash equivalents and short-term investments are sufficient to fund operations through at least the next twelve months from the date the accompanying financial statements are issued based on the expected cash burn rate and subject to the risks, commitments and contingencies set forth in these notes to the financial statements, including in connection with the ITC action. If the Company is not ultimately successful in the ITC action, the Company’s current capital resources are not expected to be sufficient to fund operations through the next twelve months from the date of the accompanying financial statements. The Company may be required to raise additional capital to fund future operations, the entry into licensing or collaboration agreements with partners, sale of its equity securities, grants or other sources of financing. Sufficient funds may not be available to the Company at all or on attractive terms when needed from equity or debt financings. If the Company is unable to obtain additional funding from these or other sources when needed, or to the extent needed, it may not be able to continue as a going concern and may need to pursue a private restructuring or a restructuring under the protection of applicable bankruptcy laws. Even if the Company is able to obtain additional funding, it may be necessary to significantly reduce its controllable and variable expenditures and current rate of spending through reductions in staff and delaying, scaling back, or suspending certain research and development, sales and marketing programs and other operational goals. These events may occur even if the Company is ultimately successful in the ITC action described below. In July 2020, the Administrative Law Judge assigned to the ITC action to which the Company is a party issued an initial determination in which the judge found a violation of Section 337 of the Tariff Act of 1930 had occurred by reason of a misappropriation of trade secrets and recommended the entry of an exclusion order that would prevent us from importing Jeuveau ® into the United States for a period of ten years and a cease and desist order that would prevent the Company from selling Jeuveau ® in the United States for the same period of time. A final determination by the ITC is expected to be issued in November 2020, with such final determination subject to a 60-day presidential review period before becoming final. In order to make any sales of Jeuveau ® during the presidential review period the Company would be required to pay a bond at a rate set by the ITC for any sales during the period. Except in certain limited circumstances, the amount of the bond may make any sales during the period prohibitively expensive. The Company strongly disagrees with the initial determination by the Administrative Law Judge and intends to continue to vigorously defend itself in this matter. Specifically, the Company petitioned for review with respect to subject matter jurisdiction, standing, trade secret existence and misappropriation, and domestic industry, including the existence of such domestic industry as well as any actual or threatened injury thereto. In the event that the ITC’s final determination affirms the Administrative Law Judge’s initial determination, the Company would be prevented from importing Jeuveau ® into the United States and from marketing and selling Jeuveau ® in the United States, which would prevent the Company from generating revenue from the Company’s sole product, Jeuveau ® and would materially and adversely affect the Company’s ability to carry out its business and to continue as a going concern. Even if the Company is successful in having the decision modified or reversed during the presidential review or in appealing any such final determination, the Company may find it difficult or be prevented from importing, marketing or selling Jeuveau ® in the United States during the pendency of those events. Further, any modification of the Administrative Law Judge’s initial determination in the ITC’s final determination or any final decision following any such presidential review or other appeal may nonetheless still result in restrictions on the Company’s ability to import and market and sell Jeuveau ® in the United States, which could also materially and adversely affect the Company’s ability to generate revenue from Jeuveau ® , to carry out its business, and to continue as a going concern. In any such event, the Company may be required to seek protection under the bankruptcy laws, including a possible liquidation of its assets, or may be forced to reduce, significantly restructure or discontinue its operations entirely, any of which would have a material adverse effect on the Company’s business, financial position, results of operations, or cash flows, would cause its stock price to decline and would also result in reputational harm. Even if the Company is successful, the ITC action may result in reputational damage or other collateral consequences. In addition, it is expected that an event of default under the Company’s credit agreement with Oxford Finance (“Oxford”) would occur after the imposition of an exclusion order and cease and desist order and Oxford would be able to declare an event of default after the exhaustion of all appeals that the Company may have or earlier. If Oxford were to declare an event of default under the credit facility and exercise its remedies, it would materially and negatively affect the Company’s business, results of operation, financial condition and could result in the Company declaring bankruptcy. See Note 8. Commitments and Contingencies —Legal Proceedings for additional information. The ongoing COVID-19 outbreak has negatively impacted and disrupted the global economy and financial markets on an unprecedented scale, which could interfere with the Company’s ability to access financing when and on terms that the Company desires. Although there is uncertainty related to the anticipated impact of the COVID-19 outbreak on the Company’s future results, the Company believes that its business strategy, its current cash reserves and measures taken since April 2020 to reduce operating expenses position the Company to manage its business through this crisis, subject to the risks, commitments and contingencies set forth in these notes to the financial statements, including in connection with the ITC action. As a result of the challenging conditions described above, the Company has formed a committee of independent members of its Board of Directors (the “Committee”) to evaluate all available alternatives in the event of a negative outcome in the ITC action. The Committee has engaged outside legal counsel and financial advisors to assist with this process. The Committee, with its outside advisors’ assistance, is evaluating such alternatives to maximize the Company’s business, liquidity and financial position in the event of negative outcome in the ITC action.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed financial statements have been prepared on a consistent basis with the annual financial statements and in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. Pursuant to these SEC rules and regulations, the Company has condensed or omitted certain financial information and disclosures normally included in annual financial statements prepared in accordance with GAAP. In the opinion of management, the interim financial statements reflect all adjustments, which include normal recurring adjustments, considered necessary for a fair statement of the interim periods. The interim results presented herein are not necessarily indicative of the results of operations to be expected for the full year ending December 31, 2020 or for any other interim period. The accompanying unaudited condensed financial statements and related disclosures should be read in conjunction with the financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC on February 25, 2020. Use of Estimates Management is required to make certain estimates and assumptions in order to prepare financial statements in conformity with GAAP. Such estimates and assumptions affect the reported financial statements. The Company’s most significant estimates relate to net revenues, allowance for doubtful accounts, fair value measurements, goodwill and long-lived asset valuations and impairment assessments, inventory valuations, income tax valuations, stock-based compensation, royalty obligations, and outcomes of legal proceedings, among others. Management bases estimates on historical experience and on assumptions that management believes are reasonable. The Company’s actual results could differ materially from those estimates. Additionally, the full impact of the COVID-19 outbreak is unknown and cannot be reasonably estimated. However, where possible, management has made appropriate accounting estimates with respect to certain accounting matters, which include the fair value of royalty obligations, allowance for doubtful accounts, inventory valuation and impairment assessments of goodwill and other long-lived assets, based on the facts and circumstances available as of the reporting date. The Company’s future assessment of the magnitude and duration of the COVID-19 outbreak, as well as other factors, could result in material impacts to the Company’s financial statements in future reporting periods. Risks and Uncertainties In 2013, Evolus and Daewoong entered into an agreement (the “Daewoong Agreement”), pursuant to which, the Company has an exclusive distribution license to Jeuveau ® from Daewoong for aesthetic indications in the United States, European Union, Canada, Australia, Russia, Commonwealth of Independent States, and South Africa, as well as co-exclusive distribution rights with Daewoong in Japan. Jeuveau ® is manufactured by Daewoong in a facility in South Korea. The Company also has the option to negotiate first with Daewoong to secure a distribution license for any product that Daewoong directly or indirectly develops or commercializes that is classified as an injectable botulinum toxin (other than Jeuveau ® ) in a territory covered by the Daewoong Agreement. The Company relies on Daewoong, its exclusive and sole supplier, to manufacture Jeuveau ® . Any termination or loss of significant rights, including exclusivity, under the Daewoong Agreement would materially and adversely affect the Company’s commercialization of Jeuveau ® . The Daewoong Agreement, and Daewoong’s rights relating to Jeuveau ® , are subject to litigation. In July 2020, the Administrative Law Judge assigned to the ITC action to which the Company is a party issued an initial determination in which the judge found a violation of Section 337 of the Tariff Act of 1930 had occurred by reason of a misappropriation of trade secrets and recommended the entry of an exclusion order that would prevent us from importing Jeuveau ® into the United States for a period of ten years and a cease and desist order that would prevent the Company from selling Jeuveau ® in the United States for the same period of time. A final determination by the ITC is expected to be issued in November 2020, with such final determination subject to a 60-day presidential review period before becoming final. In order to make any sales of Jeuveau ® during the presidential review period the Company would be required to pay a bond at a rate set by the ITC for any sales during the period. Except in limited circumstances, the amount of the bond may make any sales during the period prohibitively expensive. The Company strongly disagrees with the initial determination by the Administrative Law Judge and intends to continue to vigorously defend itself in this matter. Specifically, the Company petitioned for review with respect to subject matter jurisdiction, standing, trade secret existence and misappropriation, and domestic industry, including the existence of such domestic industry as well as any actual or threatened injury thereto. In the event that the ITC’s final determination affirms the Administrative Law Judge’s initial determination, the Company would be prevented from importing Jeuveau ® into the United States and from marketing and selling Jeuveau ® in the United States, which would prevent the Company from generating revenue from the Company’s sole product, Jeuveau ® and would materially and adversely affect the Company’s ability to carry out its business, and to continue as a going concern. Even if the Company is successful in having the decision modified or reversed during the presidential review or in appealing any such final determination, the Company may find it difficult or be prevented from importing, marketing or selling Jeuveau ® in the United States during the pendency of those events. Further, any modification of the Administrative Law Judge’s initial determination in the ITC’s final determination or any final decision following any such presidential review or other appeal may nonetheless still result in restrictions on the Company’s ability to import and market and sell Jeuveau ® in the United States, which could also materially and adversely affect the Company’s ability to generate revenue from Jeuveau ® , to carry out its business, and to continue as a going concern. In any such event, the Company may be required to seek protection under the bankruptcy laws, including a possible liquidation of its assets, or may be forced to reduce, significantly restructure or discontinue its operations entirely, any of which would have a material adverse effect on the Company’s business, financial position, results of operations, or cash flows, would cause its stock price to decline and would also result in reputational harm. Even if the Company is successful, the ITC action may result in reputational damage or other collateral consequences. In addition, it is expected that an event of default under the Company’s credit agreement with Oxford would occur after the imposition of an exclusion order and cease and desist order and Oxford would be able to declare an event of default after the exhaustion of all appeals that the Company may have or earlier. If Oxford were to declare an event of default under the credit facility and exercise its remedies, it would materially and negatively affect the Company’s business, results of operation, financial condition and could result in the Company declaring bankruptcy. See Note 8. Commitments and Contingencies for additional information regarding such litigation. The Company commercially launched Jeuveau ® in the United States in May 2019 and in Canada through a distribution partner in October 2019 and, as such, has a limited history of sales. If any previously granted approval is retracted or the Company is denied approval or approval is delayed by any other regulators, it may have a material adverse impact on the Company’s business and its financial statements. The Company is also subject to risks common to companies in the pharmaceutical industry including, but not limited to, dependency on the commercial success of Jeuveau ® , the Company’s sole commercial product, significant competition within the medical aesthetics industry, its ability to maintain regulatory approval of Jeuveau ® , the need for additional financing to achieve its goals, third party litigation and challenges to its intellectual property, uncertainty of broad adoption of its product by physicians and patients, its ability to in-license, acquire or develop additional product candidates and to obtain the necessary approvals for those product candidates, and the need to scale manufacturing capabilities over time. The recent COVID-19 outbreak and restrictions intended to slow the spread of COVID-19, including quarantines, government-mandated actions, stay-at-home orders and other restrictions, have adversely affected the Company’s business in a number of ways, which have resulted, and may continue to result, in a period of business disruption and in reduced sales and operations. In addition, any disruption and volatility in the global capital markets may increase the Company’s cost of capital and adversely affect its ability to access financing when and on terms that we desire. Any of these events could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows. Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker. The Company has determined that it operates in a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer who manages operations and reviews the financial information as a single operating segment for purposes of allocating resources and evaluating its financial performance. Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities at purchase of three months or less that can be liquidated without prior notice or penalty. Cash and cash equivalents may include deposits, money market funds and debt securities. Amounts receivable from credit card issuers are typically converted to cash within two to four days of the original sales transaction and are considered to be cash equivalents. The Company places its cash and cash equivalents with high credit quality financial institutions. At most times, such investments are in excess of the Federal Deposit Insurance Corporation (“FDIC”) limit. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash deposits. Short-Term Investments Short-term investments as of September 30, 2020 consisted of available-for-sale U.S. Treasury securities with original maturities greater than three months and remaining maturities of less than twelve months. These investments are recorded at fair value based on quoted prices in active markets, with unrealized gains and losses reported in other comprehensive (loss) gain in the Company’s condensed statements of operations and comprehensive loss. Purchase premiums and discounts are recognized in interest expense using the effective interest method over the terms of the securities. Realized gains and losses and declines in fair value that are deemed to be other than temporary are reflected in the condensed statements of operations and comprehensive loss using the specific-identification method. The Company periodically reviews all available-for-sale securities for other than temporary declines in fair value below the cost basis whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company also evaluates whether it has plans or is required to sell short-term investments before recovery of their amortized cost bases. To date, the Company has not identified any other than temporary declines in fair value of its short-term investments. Inventories Inventories consist of finished goods held for sale and distribution. Cost is determined using the first-in, first-out method with prioritization of the items with the earliest expiration dates. Inventory valuation reserves are established based on a number of factors including, but not limited to, finished goods not meeting product specifications, product excess and obsolescence, or application of the lower of cost or net realizable value concepts. The determination of events requiring the establishment of inventory valuation reserves, together with the calculation of the amount of such reserves may require judgment. No material inventory valuation reserves have been recorded for the periods presented. Adverse changes in assumptions utilized in the Company’s inventory reserve calculations could result in an increase to its inventory valuation reserves. Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or an exit price paid to transfer a liability in an orderly transaction between market participants in a principal market on the measurement date. The fair value hierarchy defines a three-tiered valuation hierarchy for disclosure of fair value measurement is classified and disclosed by the Company in one of the three categories as follows: • Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; • Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly, or can be corroborated by observable market data for substantially the full term of the asset or liability; and • Level 3—Prices or valuation techniques that require inputs that are unobservable that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying amount of goodwill may not be recoverable. The Company performs an annual qualitative assessment of its goodwill in the fourth quarter of each calendar year to determine if any events or circumstances exist, such as an adverse change in business climate or a decline in the overall industry demand, that would indicate that it would more likely than not reduce the fair value of a reporting unit below its carrying amount, including goodwill. If events or circumstances do not indicate that the fair value of a reporting unit is below its carrying amount, then goodwill is not considered to be impaired and no further testing is required. If further testing is required, the Company performs a two-step process. The first step involves comparing the fair value of the Company’s reporting unit to its carrying value, including goodwill. If the carrying value of the reporting unit exceeds its fair value, the second step of the test is performed by comparing the carrying value of the goodwill in the reporting unit to its implied fair value. An impairment charge is recognized for the excess of the carrying value of goodwill over its implied fair value. For the purpose of impairment testing, the Company has determined that it has one reporting unit. There was no impairment of goodwill for any of the periods presented. Intangible Assets Upon FDA approval of Jeuveau ® in February 2019, the in-process research and development (“IPR&D”) related to Jeuveau ® was evaluated as completed and reclassified to a definite-lived distribution right intangible asset, which is amortized over the period the asset is expected to contribute to the future cash flows of the Company. The Company determined the pattern of this intangible asset’s future cash flows could not be readily determined with a high level of precision. As a result, the distribution right intangible asset is being amortized on a straight-line basis over the estimated useful life of 20 years. The Company capitalizes certain internal-use software costs associated with the development of its mobile and web-based customer platforms. These costs include personnel expenses and external costs that are directly associated with the software projects. These costs are included as intangible assets in the accompanying condensed balance sheets. The capitalized internal-use software costs are amortized on a straight-line basis over the estimated useful life of two years upon being placed in service. The Company reviews long-term and identifiable definite-lived intangible assets or asset groups for impairment when events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the asset or an asset group, further impairment analysis is performed. An impairment loss is measured as the amount by which the carrying amount of the asset or asset groups exceeds the fair value for assets to be held and used or fair value less cost to sell for assets to be disposed of. The Company also reviews the useful lives of its assets periodically to determine whether events and circumstances warrant a revision to the remaining useful life. Changes in the useful life are adjusted prospectively by revising the remaining period over which the asset is amortized. There was no material impairment of long-lived assets for any periods presented. Leases In accordance with Accounting Standards Codification 842, Leases (“ASC 842”), at the inception of a contractual arrangement, the Company determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. If both criteria are met, upon lease commencement, the Company records a lease liability which represents the Company’s obligation to make lease payments arising from the lease, and a corresponding right-of-use (“ROU”) asset which represents the Company’s right to use an underlying asset during the lease term. Operating lease assets and liabilities are included in ROU assets, current portion of operating lease liabilities and noncurrent operating lease liabilities in the accompanying condensed balance sheets. Operating lease ROU assets and lease liabilities are initially recognized based on the present value of the future minimum lease payments over the lease term at commencement date calculated using the Company’s incremental borrowing rate applicable to the underlying asset unless the implicit rate is readily determinable. Operating lease ROU assets also include any lease payments made at or before lease commencement and exclude any lease incentives received, if any. The Company determines the lease term as the noncancelable period of the lease and may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. The Company’s leases do not contain any residual value guarantees. Leases with a term of 12 months or less are not recognized on the condensed balance sheets. For operating leases, the Company recognized rent expense on a straight-line basis over the lease term. There were no significant finance leases as of September 30, 2020. Research and Development Expenses Research and development costs are expensed as incurred. Research and development expenses include personnel-related costs including stock based compensation, costs associated with pre-clinical and clinical development activities, costs associated with and costs for prototype products that are manufactured prior to market approval for that prototype product, internal and external costs associated with the Company’s regulatory compliance and quality assurance functions, including the costs of outside consultants and contractors that assist in the process of submitting regulatory filings, and overhead costs, including allocated facility related expenses. Contingent Royalty Obligation Payable to the Evolus Founders The Company determines the fair value of the contingent royalty obligation payable at each reporting period end based on Level 3 inputs using a discounted cash flows method. Changes in the fair value of the contingent royalty obligation payable are determined at each reporting period end and recorded in operating expenses in the accompanying condensed statements of operations and comprehensive loss and as a liability in the condensed balance sheets. Contingent Promissory Note Payable to Evolus Founders On February 12, 2018, the Company recognized a contingent promissory note payable at present value using a discount rate for similar rated debt securities based on an estimated date that the Company believed the contingent promissory note will mature. Discount amortization related to the contingent promissory note is recorded in interest expense in the condensed statements of operations and comprehensive loss with a corresponding increase to the non-current liabilities in the condensed balance sheets. Long-Term Debt Long-term debt represents the debt balance with Oxford and the Daewoong Convertible Note (as defined in Note 7. ), net of debt issuance costs. Debt issuance costs represent legal, lender and consulting costs or fees associated with debt financing. Debt discounts and issuance costs are allocated pro rata between the funded and unfunded portions of the debt and are amortized into interest expense over the term of the debt. Revenue Recognition The Company applies Accounting Standards Codification 606, Revenue from Contracts with Customers (“ASC 606”), to account for revenue generated since the commercial launch of Jeuveau ® in May 2019. The Company recognizes revenue when control of the promised goods or services is transferred to its customers, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for the goods or services. In order to achieve that core principle, a five-step approach is applied: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue allocated to each performance obligation when the Company satisfies the performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition. General The Company generates product revenue from the sale of Jeuveau ® in the United States and service revenue from the sale of Jeuveau ® through a distribution partner in Canada. For product revenue, the Company recognizes revenue when control of the promised goods under a contract is transferred to a customer, in an amount that reflects the consideration the Company expects to receive in exchange for those goods as specified in the customer contract. The transfer of control occurs upon receipt of the goods by the customer since that is when the customer has obtained control of the goods’ economic benefits. The Company does not provide any service-type warranties and does not accept product returns except under limited circumstances such as damages in transit or ineffective product. The Company also excludes any amounts related to taxes assessed by governmental authorities from revenue measurement. Shipping and handling costs associated with outbound product freight are accounted for as fulfillment costs and are included in selling, general and marketing expenses in the accompanying condensed statements of operations and comprehensive loss. For service revenue, the Company evaluated the arrangement with the distribution partner in Canada and determined that it acts as an agent in the distribution of Jeuveau ® in Canada as it does not control the product before control is transferred to a customer. The indicators of which party exercises control include primary responsibility over performance obligations, inventory risk before the good or service is transferred and discretion in establishing the price. Accordingly, the Company records the sale as service revenue on a net basis. Revenue from services is recognized in the period the service is performed for the amount of consideration expected to be received. The Company recognized $738 of revenues related to Canada sales for the three and nine months ended September 30, 2020 and $0 for the three and nine months ended September 30, 2019. Disaggregation of Revenue The Company’s disaggregation of revenue is consistent with its operating segment as disclosed above. Gross-to-Net Revenue Adjustments The Company provides customers with discounts, such as trade and volume discounts and prompt pay discounts, that are directly reflected in the invoice price. Revenues are recorded net of sales-related adjustments, wherever applicable, primarily for the volume-based rebates, coupon and consumer loyalty programs. • Volume-based Rebates — Volume-based rebates are contractually offered to certain customers. The rebates payable to each customer are determined based on the contract and quarterly purchase volumes. • Coupons — The Company issued customers coupons redeemable into gift cards funded by the Company for the benefit of patients. The coupons are accounted for as variable consideration. The Company estimates the coupon redemption rates based on historical data and future expectations. The coupons are accrued based on estimated redemption rates and the volume of products purchased and are recorded as a reduction to revenues on product delivery. All issued coupons expired on June 30, 2020. • Consumer Loyalty Program — In May 2020, the Company announced the launch of a consumer loyalty program, which allows participating customers to earn rewards for qualifying treatments to their patients (i.e. consumers) using Jeuveau® and redeem the rewards for Jeuveau® in the future at no additional cost. The loyalty program represents a customer option that provides a material right and, accordingly, is a performance obligation. At the time Jeuveau® product is sold to customers, the invoice price is allocated between the product sold and the estimated material right reward (“Reward”) that the customer might redeem in the future. The standalone selling price of the Reward is measured based on historical sales data, average selling price of Jeuveau® at the time of redemption, expected customer and consumer participation rates in the loyalty program, and estimated number of qualifying treatments to be performed by customers. The portion of invoice price allocated to the Reward is initially recorded as deferred revenue. Subsequently, when customers redeem the Reward and the related product is delivered, the deferred revenue is recognized in net revenue at that time. As of September 30, 2020 and December 31, 2019, the accrued revenue contract liabilities, primarily related to volume-based rebates, coupons and consumer loyalty program, were $2,371 and $1,709, respectively, which were recorded in the accrued expenses in the accompanying condensed balance sheets. The Company recorded provisions of $2,378 and $5,740 for the three months ended September 30, 2020 and 2019, respectively, and provisions of $12,607 and $6,671 for the nine months ended September 30, 2020 and 2019, respectively. The related payments, redemptions and adjustments were $806 and $2,739 for the three months ended September 30, 2020 and 2019, respectively, and $11,945 and $2,739 for the nine months ended September 30, 2020 and 2019, respectively. Contract balances A contract with a customer states the terms of the sale, including the description, quantity and price of each product purchased. Amounts are recorded as accounts receivable when the Company’s right to consideration becomes unconditional. The Company does not have any significant financing components in customer contracts given the expected time between transfer of the promised products and the payment of the associated consideration is less than one year. As of September 30, 2020 and December 31, 2019, all amounts included in accounts receivable, net on the accompanying condensed balance sheets are related to contracts with customers. The Company did not have any contract assets nor unbilled receivables as of September 30, 2020 or December 31, 2019. Sales commissions are included in selling, general and administrative expenses when incurred. Contract liabilities reflect estimated amounts that the Company is obligated to pay to customers or patients primarily under the rebate and coupon programs and deferred revenue associated with Reward under the consumer loyalty program. The Company’s contract liabilities are included in accounts payable and accrued expenses in the accompanying condensed balance sheets. During the three and nine months ended September 30, 2020, the Company did not recognize any revenue related to changes in transaction prices regarding its contracts with customers and did not recognize any material changes in revenue related to amounts included in contract liabilities at the beginning of the period. Collectability Accounts receivable are recorded at the invoiced amount and do not bear interest. At the time of contract inception or new customer account set-up, the Company performs a collectability assessment of the customer’s creditworthiness. The Company assesses the probability that the Company will collect the entitled consideration in exchange for the goods sold, by considering the customer’s ability and intention to pay when consideration is due. On a recurring basis, the Company estimates the amount of receivables considered uncollectable to reflect an allowance for doubtful accounts. The Company writes off accounts receivable balances when it is determined that there is no possibility of collection. As of September 30, 2020 and December 31, 2019, allowance for doubtful accounts was $2,656 and $387, respectively. For the three and nine months ended September 30, 2020, recovery of and provision for bad debts was $168 and $2,439, respectively, and the write-off amount was $0 and $171, respectively. For the three and nine months ended September 30, 2019, there was no provision for allowance for doubtful accounts or write-offs. Practical Expedients The Company expenses sales commissions when incurred as the amortization period is one year or less. These costs are recorded within selling, general and administrative expenses in the accompanying condensed statements of operations and comprehensive loss. The Company does not adjust the amount of promised consideration for the effects of the time value of money for contracts in which the anticipated period between when the Company transfers the goods or services to the customer and when the customer pays within one year. Restructuring costs In April 2020, in response to the impact of COVID-19 on its business, the Company announced plans to reduce its operating expenses and separate over 100 employees. As of September 30, 2020, all separations were completed and the Company recorded $0 and $2,956 of termination benefits as restructuring costs within operating expenses on the accompanying condensed statements of operations and comprehensive loss for the three and nine months ended September 30, 2020, respectively. Stock-Based Compensation The Company recognizes stock-based compensation expense for employees, consultants and members of the Board of Directors based on the fair value at the date of grant. The Company uses the Black-Scholes option pricing model to value stock option grants. The Black-Scholes option prici

Fair Value Measurements and Sho

Fair Value Measurements and Short-Term Investments	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements and Short-Term Investments	Fair Value Measurements and Short-Term Investments Short-Term Investments As of September 30, 2020, all of the Company’s investments had remaining maturities less than 12 months. The following is a summary of the Company’s short-term investments, considered available-for-sale: As of September 30, 2020 Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value Available-for-sale securities U.S. treasury securities $ 24,993 $ 3 $ — $ 24,996 As of December 31, 2019 Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value Available-for-sale securities U.S. treasury securities $ 19,905 $ 6 $ — $ 19,911 As of September 30, 2020, no investments had been in a continuous unrealized loss position for more than 12 months, and the Company did not record any other-than-temporary impairments on these securities. Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company measures and reports certain financial instruments as assets and liabilities at fair value on a recurring basis. The fair value of these instruments was as follows: As of September 30, 2020 Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. treasury securities $ 24,996 $ 24,996 $ — $ — Liabilities Contingent royalty obligation payable to Evolus Founders $ 33,630 $ — $ — $ 33,630 As of December 31, 2019 Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. treasury securities $ 19,911 $ 19,911 $ — $ — Liabilities Contingent royalty obligation payable to Evolus Founders $ 44,683 $ — $ — $ 44,683 The Company did not transfer any assets or liabilities measured at fair value on a recurring basis between levels during the nine months ended September 30, 2020 and 2019. The Company determines the fair value of the contingent royalty obligation payable to Evolus Founders based on Level 3 inputs using a discounted cash flows method. The significant unobservable input assumptions that can significantly change the fair value include (i) projected amount and timing of net revenues during the payment period, which terminates in the quarter following the 10-year anniversary of the first commercial sale of Jeuveau ® in the United States, (ii) the discount rate and (iii) the timing of payments. During the three and nine months ended September 30, 2020 and 2019, the Company utilized discount rates between 16.0% and 20.0%, reflecting changes in the Company’s risk profile. Net revenue projections are also updated to reflect changes in the timing of expected sales. The following table shows a reconciliation of the beginning and ending fair value measurements of the contingent royalty obligation payable: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fair value, beginning of period $ 36,334 $ 47,169 $ 44,683 $ 50,200 Payments (233) (69) (1,131) (9,282) Change in fair value recorded in operating expenses (2,471) 1,795 (9,922) 7,977 Fair value, end of period $ 33,630 $ 48,895 $ 33,630 $ 48,895 Other Financial Assets and Liabilities The Company’s financial instruments consist primarily of cash and cash equivalents, short-term available-for-sale debt securities, accounts receivable, accounts payable, accrued expenses, lease liabilities, and long-term debt. The carrying amount of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximates their fair value because of the short-term maturity of such instruments. The Company estimates the fair value of the contingent promissory note payable to the Evolus Founders, long-term debt and operating lease liabilities using the discounted cash flow analysis based on the interest rates for similar rated debt securities (Level 2). As of September 30, 2020, the fair value of the contingent promissory note and long-term debt was estimated to be

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The table below shows the weighted-average life, original cost, accumulated amortization and net book value by major intangible asset classification: Weighted-Average Life (Years) Original Cost Accumulated Amortization Net Book Value Definite-lived intangible assets Distribution right 20 $ 59,076 $ (4,895) $ 54,181 Capitalized software 2 6,380 (3,770) 2,610 Intangible assets, net 65,456 (8,665) 56,791 Indefinite-lived intangible asset Goodwill * 21,208 — 21,208 Total as of September 30, 2020 $ 86,664 $ (8,665) $ 77,999 Weighted-Average Life (Years) Original Cost Accumulated Amortization Net Book Value Indefinite-lived intangible assets Distribution right 20 $ 59,076 $ (2,679) $ 56,397 Capitalized software 2 4,415 (1,174) 3,241 Intangible assets, net 63,491 (3,853) 59,638 Indefinite-lived intangible asset Goodwill * 21,208 — 21,208 Total as of December 31, 2019 $ 84,699 $ (3,853) $ 80,846 ________________________ * Intangible assets with indefinite lives have an indeterminable average life. The following table outlines the estimated future amortization expense related to intangible assets held as of September 30, 2020 that are subject to amortization: Fiscal year Remaining in 2020 $ 1,706 2021 4,481 2022 3,073 2023 2,955 2024 2,955 Thereafter 41,621 $ 56,791 The Company capitalized $432 and $761 for the three months ended September 30, 2020 and 2019, respectively, and $1,966 and $3,303 for the nine months ended September 30, 2020 and 2019, respectively, related to costs of computer software developed for internal use. The Company recorded total intangible assets amortization expense of $1,664 and $1,115 for the

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses Accrued expenses consisted of: September 30, December 31, 2020 2019 Accrued payroll and related benefits $ 2,868 $ 5,229 Accrued professional services 991 5,794 Accrued revenue contract liabilities 2,371 1,709 Other accrued expenses 195 1,228 $ 6,425 $ 13,960

Oxford Term Loans

Oxford Term Loans	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Oxford Term Loan	Oxford Term Loan On March 15, 2019, the Company entered into a credit facility of up to $100,000 with Oxford Finance (“Oxford”). Pursuant to the terms of the credit facility, the lender extended term loans (the “Oxford Term Loan”), available in two advances, to the Company. The first tranche of $75,000 was funded on the closing date. The second tranche of $25,000 could have been drawn, at the request of the Company, no later than September 30, 2020, upon achieving specified minimum net sales milestones based on a trailing six-month basis and no event of default. As of September 30, 2020, the Company did not meet the net sales milestone to draw the second tranche. The credit facility bears an annual interest rate equal to the greater of 9.5%, or the 30-day U.S. Dollar LIBOR rate plus 7.0%. The Company agreed to pay interest-only for the first 36 months until May 2022, which is followed by a 23-month amortization period. Upon the earliest to occur of the maturity date, the acceleration of the Oxford Term Loan, or the prepayment of the Oxford Term Loan, the Company is required to pay to Oxford a final payment of 5.5% of the full principal amount of the Oxford Term Loan funded (“Final Payment”). The Company may elect to prepay all amounts owed prior to the maturity date, provided that a prepayment fee is also paid, which shall be equal to 2.0% of the amount prepaid if the prepayment occurs after March 15, 2020 and on or prior to March 15, 2021, or 1.0% of the amount prepaid if the prepayment occurs thereafter (“Prepayment Fee”). If the Oxford Term Loan is accelerated following the occurrence of an event of default, the Company is required to immediately pay to Oxford an amount equal to the sum of all outstanding principal of the term loans plus accrued and unpaid interest thereon through the prepayment date, the Final Payment, the Prepayment Fee and all other obligations that are due and payable, including payment of Oxford’s expenses and interest at the default rate (defined below) with respect to any past due amounts. The credit facility is secured by substantially all of the Company’s assets. The credit facility includes affirmative and negative covenants applicable to the Company and any subsidiaries it may create in the future. The affirmative covenants include, among others, covenants requiring the Company to maintain its legal corporate existence and governmental approvals, deliver certain financial reports, maintain insurance coverage and satisfy certain requirements regarding deposit accounts. The negative covenants include, among others, restrictions on us transferring collateral, incurring additional indebtedness, engaging in mergers or acquisitions, paying dividends or making other distributions, making investments, creating liens, selling assets and suffering a change in control, in each case subject to certain exceptions. The credit facility also includes events of default, the occurrence and continuation of which could cause interest to be charged at a default interest rate equal to the applicable rate plus 5.0% and Oxford, as collateral agent, with the right to exercise remedies against the Company and the collateral securing the credit facility, including foreclosure against the property securing the credit facility, including the Company’s cash. These events of default include, among other things, any failure by the Company to pay principal or interest due under the credit facility, a breach of certain covenants under the credit facility, the Company’s insolvency, a material adverse change, the occurrence of any default under certain other indebtedness and one or more judgments against the Company, the institution of certain temporary or permanent relief in connection with pending litigation, or the breach, termination or other adverse events under the Daewoong Agreement. As of September 30, 2020, the Company was in compliance with its debt covenants. In July 2020, the Administrative Law Judge assigned to the ITC action to which the Company is a party issued an initial determination in which the judge found a violation of Section 337 of the Tariff Act of 1930 had occurred by reason of a misappropriation of trade secrets and recommended the entry of an exclusion order that would prevent us from importing Jeuveau ® into the United States for a period of ten years and a cease and desist order that would prevent the Company from selling Jeuveau ® in the United States for the same period of time. A final determination by the ITC is expected to be issued in November 2020, with such final determination subject to a 60-day presidential review period before becoming final. In order to make any sales of Jeuveau ® during the presidential review period the Company would be required to pay a bond at a rate set by the ITC for any sales during the period. Except in certain limited circumstances, the amount of the bond may make any sales during the period prohibitively expensive. The Company strongly disagrees with the initial determination by the Administrative Law Judge and intends to continue to vigorously defend itself in this matter. Specifically, the Company petitioned for review with respect to subject matter jurisdiction, standing, trade secret existence and misappropriation, and domestic industry, including the existence of such domestic industry as well as any actual or threatened injury thereto. In the event that the ITC’s final determination affirms the Administrative Law Judge’s initial determination, the Company would be prevented from importing Jeuveau ® into the United States and from marketing and selling Jeuveau ® in the United States for a period of ten years. Even if the Company is successful in having the decision modified or reversed during the presidential review or in appealing any such final determination, the Company may find it difficult or be prevented from importing, marketing or selling Jeuveau ® in the United States during the pendency of those events. Further, any modification of the Administrative Law Judge’s initial determination in the ITC’s final determination or any final decision following any such presidential review or other appeal may nonetheless still result in restrictions on the Company’s ability to import and market and sell Jeuveau ® in the United States. In any of these scenarios, it is expected that an event of default would occur after the imposition of an exclusion order and cease and desist order and Oxford would be able to declare an event of default after the exhaustion of all appeals that the Company may have or earlier. If Oxford were to declare an event of default under the credit facility and exercise its remedies, it would materially and negatively affect the Company’s business, results of operation, financial condition and could result in the Company declaring bankruptcy. At the closing date, the Company incurred $1,094 and $2,205 in debt discounts and issuance costs related to the Oxford Term Loan, respectively. Debt discounts and issuance costs related to the Oxford Term Loan have been presented as a deduction to the debt balance and are amortized into interest expense using the effective interest method. As of September 30, 2020, the borrowings outstanding under the Oxford Term Loan were classified as long-term debt in the accompanying condensed balance sheets. The overall effective interest rate was approximately 11.6% as of September 30, 2020. As of September 30, 2020, the principal amounts of long-term debt maturities of the Oxford Term Loan during each of the next five fiscal years are as follows: Fiscal year Remainder of 2020 $ — 2021 — 2022 26,087 2023 39,130 2024 9,783 Total principal payments 75,000 Unamortized debt discounts and issuance costs (1,026) Long term debt, net of discounts and issuance costs $ 73,974 On July 6, 2020, the Company entered into a Convertible Promissory Note Purchase Agreement with Daewoong for the purchase and sale of a Convertible Promissory Note for the principal amount of $40,000 (the “Daewoong Convertible Note”), which was funded on July 30, 2020. Additionally, on July 6, 2020, the Company, Daewoong and Oxford Finance, LLC entered into a Subordination Agreement pursuant to which the Daewoong Convertible Note is subordinated to the Company’s obligations under that certain Loan and Security Agreement, dated as of March 15, 2019, by and between the Company and Oxford. The Daewoong Convertible Note bears interest at a rate of 3.0% payable semi-annually in arrears on June 30th and December 31st of each year and matures on July 30, 2025, subject to earlier conversion as provided below. Interest is initially paid in kind by adding the accrued amount thereof to the outstanding principal amount on a semi-annual basis on June 30th and December 31st of each calendar year for so long as any principal amount under the Oxford Term Loan remains outstanding and the Subordination Agreement has not been terminated. Interest will begin to be paid in cash if and when the Oxford Term Loan is repaid in full and the Subordination Agreement has been terminated. During the term, the Daewoong Convertible Note is convertible at the option of Daewoong beginning 12 months from the date of issuance, subject to certain suspensions of that conversion right in the event of a final determination of the ITC action resulting in an exclusion order with respect to Jeuveau ® as further set forth in the Daewoong Convertible Note. The initial conversion price of the Daewoong Convertible Note is $13.00 per share, which is subject to adjustment for stock splits, dividends or distributions, recapitalizations, spinoffs or similar transactions. The Daewoong Convertible Note and the shares of the Company’s common stock issuable upon conversion of the Daewoong Convertible Note have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Starting 27 months from the date of issuance, the Company may prepay the Daewoong Convertible Note without penalty, provided the Company provides Daewoong with at least ten business days’ written notice during which Daewoong may convert all or any portion of the Daewoong Convertible Note at the conversion price. Further, in the event the Company is awarded any recovery pursuant to a final, non-appealable award or judgment issued by a court of competent jurisdiction over the parties, or pursuant to any settlement acceptable in the sole and absolute discretion of each of the Company and Daewoong, for any indemnification or other claim for damages by the Company under the Daewoong Agreement, the amount of Daewoong’s or its affiliate’s indemnification obligation with respect to such award, judgment or settlement shall be reduced on a dollar-for-dollar basis and will be offset by the amount of the then-outstanding principal amount of the Daewoong Convertible Note and any accrued but unpaid interest thereon. Conversion of the full initial principal amount of the Daewoong Convertible Note would result in the issuance of 3,076,923 shares of the Company’s common stock if converted at $13.00 per share, which amount is subject to increase by any interest paid in kind that is added to the outstanding principal under the terms of the Daewoong Convertible Note. Notwithstanding the foregoing, under the terms of the Daewoong Convertible Note, the Company may not issue shares to the extent such issuance would cause Daewoong, together with its affiliates and attribution parties, to beneficially own a number of common shares which would exceed 4.99% (which may be increased upon no less than 61 days’ notice, but not to exceed 9.99%) of the Company’s then outstanding common shares immediately following such issuance, excluding for purposes of such determination common shares issuable upon subsequent conversion of principal or interest on the Daewoong Convertible Note. To the extent that any shares of the Company’s common stock are issued upon conversion of the Daewoong Convertible Note, such shares of the Company’s common stock are expected to be issued in transactions exempt from registration under the Securities Act by virtue of Section 3(a)(9) or Section 4(a)(2) thereof, and no commission or other remuneration is expected to be paid in connection with conversion of the Convertible Note and any resulting issuance of shares of the Company’s common stock. Under the debt covenants, the Company is required to timely file all forms, reports, and documents required by the SEC. All principal and unpaid interest becomes immediately due at the time of default, which includes events in which the Company declares bankruptcy and fails to timely pay any principal or interest or comply with covenants. As of September 30, 2020, the Company was in compliance with its debt covenants.

Daewoong Convertible Note

Daewoong Convertible Note	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Daewoong Convertible Note	Oxford Term Loan On March 15, 2019, the Company entered into a credit facility of up to $100,000 with Oxford Finance (“Oxford”). Pursuant to the terms of the credit facility, the lender extended term loans (the “Oxford Term Loan”), available in two advances, to the Company. The first tranche of $75,000 was funded on the closing date. The second tranche of $25,000 could have been drawn, at the request of the Company, no later than September 30, 2020, upon achieving specified minimum net sales milestones based on a trailing six-month basis and no event of default. As of September 30, 2020, the Company did not meet the net sales milestone to draw the second tranche. The credit facility bears an annual interest rate equal to the greater of 9.5%, or the 30-day U.S. Dollar LIBOR rate plus 7.0%. The Company agreed to pay interest-only for the first 36 months until May 2022, which is followed by a 23-month amortization period. Upon the earliest to occur of the maturity date, the acceleration of the Oxford Term Loan, or the prepayment of the Oxford Term Loan, the Company is required to pay to Oxford a final payment of 5.5% of the full principal amount of the Oxford Term Loan funded (“Final Payment”). The Company may elect to prepay all amounts owed prior to the maturity date, provided that a prepayment fee is also paid, which shall be equal to 2.0% of the amount prepaid if the prepayment occurs after March 15, 2020 and on or prior to March 15, 2021, or 1.0% of the amount prepaid if the prepayment occurs thereafter (“Prepayment Fee”). If the Oxford Term Loan is accelerated following the occurrence of an event of default, the Company is required to immediately pay to Oxford an amount equal to the sum of all outstanding principal of the term loans plus accrued and unpaid interest thereon through the prepayment date, the Final Payment, the Prepayment Fee and all other obligations that are due and payable, including payment of Oxford’s expenses and interest at the default rate (defined below) with respect to any past due amounts. The credit facility is secured by substantially all of the Company’s assets. The credit facility includes affirmative and negative covenants applicable to the Company and any subsidiaries it may create in the future. The affirmative covenants include, among others, covenants requiring the Company to maintain its legal corporate existence and governmental approvals, deliver certain financial reports, maintain insurance coverage and satisfy certain requirements regarding deposit accounts. The negative covenants include, among others, restrictions on us transferring collateral, incurring additional indebtedness, engaging in mergers or acquisitions, paying dividends or making other distributions, making investments, creating liens, selling assets and suffering a change in control, in each case subject to certain exceptions. The credit facility also includes events of default, the occurrence and continuation of which could cause interest to be charged at a default interest rate equal to the applicable rate plus 5.0% and Oxford, as collateral agent, with the right to exercise remedies against the Company and the collateral securing the credit facility, including foreclosure against the property securing the credit facility, including the Company’s cash. These events of default include, among other things, any failure by the Company to pay principal or interest due under the credit facility, a breach of certain covenants under the credit facility, the Company’s insolvency, a material adverse change, the occurrence of any default under certain other indebtedness and one or more judgments against the Company, the institution of certain temporary or permanent relief in connection with pending litigation, or the breach, termination or other adverse events under the Daewoong Agreement. As of September 30, 2020, the Company was in compliance with its debt covenants. In July 2020, the Administrative Law Judge assigned to the ITC action to which the Company is a party issued an initial determination in which the judge found a violation of Section 337 of the Tariff Act of 1930 had occurred by reason of a misappropriation of trade secrets and recommended the entry of an exclusion order that would prevent us from importing Jeuveau ® into the United States for a period of ten years and a cease and desist order that would prevent the Company from selling Jeuveau ® in the United States for the same period of time. A final determination by the ITC is expected to be issued in November 2020, with such final determination subject to a 60-day presidential review period before becoming final. In order to make any sales of Jeuveau ® during the presidential review period the Company would be required to pay a bond at a rate set by the ITC for any sales during the period. Except in certain limited circumstances, the amount of the bond may make any sales during the period prohibitively expensive. The Company strongly disagrees with the initial determination by the Administrative Law Judge and intends to continue to vigorously defend itself in this matter. Specifically, the Company petitioned for review with respect to subject matter jurisdiction, standing, trade secret existence and misappropriation, and domestic industry, including the existence of such domestic industry as well as any actual or threatened injury thereto. In the event that the ITC’s final determination affirms the Administrative Law Judge’s initial determination, the Company would be prevented from importing Jeuveau ® into the United States and from marketing and selling Jeuveau ® in the United States for a period of ten years. Even if the Company is successful in having the decision modified or reversed during the presidential review or in appealing any such final determination, the Company may find it difficult or be prevented from importing, marketing or selling Jeuveau ® in the United States during the pendency of those events. Further, any modification of the Administrative Law Judge’s initial determination in the ITC’s final determination or any final decision following any such presidential review or other appeal may nonetheless still result in restrictions on the Company’s ability to import and market and sell Jeuveau ® in the United States. In any of these scenarios, it is expected that an event of default would occur after the imposition of an exclusion order and cease and desist order and Oxford would be able to declare an event of default after the exhaustion of all appeals that the Company may have or earlier. If Oxford were to declare an event of default under the credit facility and exercise its remedies, it would materially and negatively affect the Company’s business, results of operation, financial condition and could result in the Company declaring bankruptcy. At the closing date, the Company incurred $1,094 and $2,205 in debt discounts and issuance costs related to the Oxford Term Loan, respectively. Debt discounts and issuance costs related to the Oxford Term Loan have been presented as a deduction to the debt balance and are amortized into interest expense using the effective interest method. As of September 30, 2020, the borrowings outstanding under the Oxford Term Loan were classified as long-term debt in the accompanying condensed balance sheets. The overall effective interest rate was approximately 11.6% as of September 30, 2020. As of September 30, 2020, the principal amounts of long-term debt maturities of the Oxford Term Loan during each of the next five fiscal years are as follows: Fiscal year Remainder of 2020 $ — 2021 — 2022 26,087 2023 39,130 2024 9,783 Total principal payments 75,000 Unamortized debt discounts and issuance costs (1,026) Long term debt, net of discounts and issuance costs $ 73,974 On July 6, 2020, the Company entered into a Convertible Promissory Note Purchase Agreement with Daewoong for the purchase and sale of a Convertible Promissory Note for the principal amount of $40,000 (the “Daewoong Convertible Note”), which was funded on July 30, 2020. Additionally, on July 6, 2020, the Company, Daewoong and Oxford Finance, LLC entered into a Subordination Agreement pursuant to which the Daewoong Convertible Note is subordinated to the Company’s obligations under that certain Loan and Security Agreement, dated as of March 15, 2019, by and between the Company and Oxford. The Daewoong Convertible Note bears interest at a rate of 3.0% payable semi-annually in arrears on June 30th and December 31st of each year and matures on July 30, 2025, subject to earlier conversion as provided below. Interest is initially paid in kind by adding the accrued amount thereof to the outstanding principal amount on a semi-annual basis on June 30th and December 31st of each calendar year for so long as any principal amount under the Oxford Term Loan remains outstanding and the Subordination Agreement has not been terminated. Interest will begin to be paid in cash if and when the Oxford Term Loan is repaid in full and the Subordination Agreement has been terminated. During the term, the Daewoong Convertible Note is convertible at the option of Daewoong beginning 12 months from the date of issuance, subject to certain suspensions of that conversion right in the event of a final determination of the ITC action resulting in an exclusion order with respect to Jeuveau ® as further set forth in the Daewoong Convertible Note. The initial conversion price of the Daewoong Convertible Note is $13.00 per share, which is subject to adjustment for stock splits, dividends or distributions, recapitalizations, spinoffs or similar transactions. The Daewoong Convertible Note and the shares of the Company’s common stock issuable upon conversion of the Daewoong Convertible Note have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Starting 27 months from the date of issuance, the Company may prepay the Daewoong Convertible Note without penalty, provided the Company provides Daewoong with at least ten business days’ written notice during which Daewoong may convert all or any portion of the Daewoong Convertible Note at the conversion price. Further, in the event the Company is awarded any recovery pursuant to a final, non-appealable award or judgment issued by a court of competent jurisdiction over the parties, or pursuant to any settlement acceptable in the sole and absolute discretion of each of the Company and Daewoong, for any indemnification or other claim for damages by the Company under the Daewoong Agreement, the amount of Daewoong’s or its affiliate’s indemnification obligation with respect to such award, judgment or settlement shall be reduced on a dollar-for-dollar basis and will be offset by the amount of the then-outstanding principal amount of the Daewoong Convertible Note and any accrued but unpaid interest thereon. Conversion of the full initial principal amount of the Daewoong Convertible Note would result in the issuance of 3,076,923 shares of the Company’s common stock if converted at $13.00 per share, which amount is subject to increase by any interest paid in kind that is added to the outstanding principal under the terms of the Daewoong Convertible Note. Notwithstanding the foregoing, under the terms of the Daewoong Convertible Note, the Company may not issue shares to the extent such issuance would cause Daewoong, together with its affiliates and attribution parties, to beneficially own a number of common shares which would exceed 4.99% (which may be increased upon no less than 61 days’ notice, but not to exceed 9.99%) of the Company’s then outstanding common shares immediately following such issuance, excluding for purposes of such determination common shares issuable upon subsequent conversion of principal or interest on the Daewoong Convertible Note. To the extent that any shares of the Company’s common stock are issued upon conversion of the Daewoong Convertible Note, such shares of the Company’s common stock are expected to be issued in transactions exempt from registration under the Securities Act by virtue of Section 3(a)(9) or Section 4(a)(2) thereof, and no commission or other remuneration is expected to be paid in connection with conversion of the Convertible Note and any resulting issuance of shares of the Company’s common stock. Under the debt covenants, the Company is required to timely file all forms, reports, and documents required by the SEC. All principal and unpaid interest becomes immediately due at the time of default, which includes events in which the Company declares bankruptcy and fails to timely pay any principal or interest or comply with covenants. As of September 30, 2020, the Company was in compliance with its debt covenants.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases The Company’s corporate headquarters is located in Newport Beach, California, in a facility that it subleased until January 2020 under a non-cancelable operating lease for a fixed amount each month. On May 15, 2019, the Company entered into a non-cancelable operating lease for the same office facility with the original lessor. This non-cancelable operating lease commenced on February 1, 2020 and expires on January 31, 2025. Lease payments increase based on an annual rent escalation clause that occurs each year on February 1. The Company may, under certain circumstances, terminate the lease on the 36-month anniversary of the lease commencement date by providing a written notice 12 months prior to such anniversary and paying a termination fee equal to six months basic rent plus certain other expenses. The Company has an option to extend the term of the lease for an additional 60 months, which is not recognized as part of its ROU assets and lease liabilities. The lease with the original lessor is a modification of the existing sublease that is not accounted for as a separate contract. The Company’s lease agreements do not contain any residual value guarantees or material restrictive covenants. The payments associated with the renewal will only be included in the measurement of the lease liability and ROU assets if the exercise of the renewal option is determined to be reasonably certain. The Company considers the timing of the renewal period and other economic factors such as the financial implications of a decision to extend or not to extend a lease in determining if the renewal option is reasonably certain to be exercised. For the three and nine months ended September 30, 2020, the components of operating lease expense: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fixed operating lease expense $ 266 $ 297 $ 813 $ 798 Variable operating lease expense 5 31 32 92 Short-term operating lease expense — 24 168 73 $ 271 $ 352 $ 1,013 $ 963 The weighted-average remaining lease term was 4.3 years and weighted-average discount rate was 9.4% as of September 30, 2020. Operating lease expenses were included in the selling, general and administration expenses in the accompanying condensed statements of operations and comprehensive loss. Operating lease right-of-use assets and related current and noncurrent operating lease liabilities are presented in the accompanying condensed balance sheets. The following table presents the maturity of the Company’s operating lease liabilities as of September 30, 2020, future minimum payments under the operating lease agreements with non-cancelable terms as follows: Fiscal year Remainder of 2020 $ 291 2021 1,210 2022 1,262 2023 1,317 2024 1,374 Thereafter 115 Total operating lease payments 5,569 Less: imputed interest (1,032) Present value of operating lease liabilities $ 4,537 Purchase Commitments As of September 30, 2020, the Company has entered into commitments to purchase services and products for an aggregate amount of approximately $5,744. Certain minimum purchase commitments related to the purchase of Jeuveau ® are described below. License and Supply Agreement In connection with the Daewoong Agreement, the Company was obligated to make future milestone payments to Daewoong for certain confidential development and commercial milestones associated with Jeuveau ® . As of September 30, 2020, Daewoong is eligible to receive remaining contingent milestone payments of up to $10,500. The Daewoong Agreement also includes certain minimum annual purchases the Company is required to make in order to maintain the exclusivity of the license. The Company may, however, meet these minimum purchase obligations by achieving certain market share in its covered territories. These potential minimum purchase obligations were contingent upon the occurrence of future events, including receipt of governmental approvals and the Company’s future market share in various jurisdictions. Legal Proceedings In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because they involve claims that may be made against the Company in the future, but have not yet been made. The Company accrues a liability for such matters when it is probable that future expenditures will be made, and such expenditures can be reasonably estimated. No amounts were accrued as of September 30, 2020 and December 31, 2019. Medytox Litigation The Company, Daewoong and other individuals and entities are defendants to a lawsuit brought by Medytox, Inc. (“Medytox”) originally instituted in the Superior Court of the State of California in June 2017. With specific regard to the Company, Medytox alleges that (i) the Company has violated California Uniform Trade Secrets Act, Cal. Civ. Code § 3426 because Daewoong’s alleged knowledge of the misappropriation of certain trade secrets of Medytox is imputed to the Company as a result of the Company’s relationship with Daewoong, (ii) the Company has stolen the botulinum toxin bacterial strain of Medytox through our possession of and refusal to return the botulinum toxin bacterial strain, (iii) the Company has engaged in unlawful, unfair and fraudulent business acts and practices in violation of California Bus. & Prof. Code § 17200, including conversion of the botulinum toxin bacterial strain and misrepresentations to the public regarding the source of the botulinum toxin bacterial strain used to manufacture Jeuveau ® , and (iv) the Daewoong Agreement is invalid and in violation of Medytox’s rights (the “Medytox Litigation”). Medytox seeks, among other things, (i) actual, consequential and punitive damages, (ii) a reasonable royalty, as appropriate, (iii) a declaration that the Daewoong Agreement is void and unenforceable and that Medytox is entitled to disgorgement of all property wrongfully and unjustly retained or acquired by the defendants, including unlawfully gained profits, (iv) injunctive relief prohibiting the Company from using the license under the Daewoong Agreement and distributing Jeuveau ® , and (v) attorneys’ fees and costs. The Company believes it has meritorious defenses and intends to vigorously defend Medytox’s claims. The Company is unable to determine the likelihood of success of Medytox’s claims against the Company, and an estimate of the possible loss or range of loss cannot be made. An adverse ruling by the Superior Court against either the Company or Daewoong would prevent the Company from generating revenue from its sole product, Jeuveau ® and would materially adversely affect the Company’s ability to carry out its business and continue operations as a going concern which would have a material adverse effect on the Company’s business, financial position, results of operations, or cash flows and could also result in reputational harm. ITC action On January 30, 2019, Allergan, plc and Allergan, Inc. (collectively, “Allergan”) and Medytox filed a complaint (the “ITC Complaint”) against us and Daewoong in the ITC, containing substantially similar allegations to the Medytox Litigation, specifically that Jeuveau ® is manufactured based on misappropriated trade secrets of Medytox and therefore the importation of Jeuveau ® is an unfair act. The ITC matter is entitled In the Matter of Certain Botulinum Toxin Products, ITC Inv. No. 337-TA-1145.ITC action The ITC Complaint seeks (i) an investigation by the ITC pursuant to Section 337 of the Tariff Act of 1930, (ii) a hearing with the ITC on permanent relief, (iii) issuance of an exclusion order forbidding entry of Jeuveau ® into the United States, (iv) a cease and desist order prohibiting Daewoong and us from engaging in the importations, sale for importation, marketing, distribution, offering for sale, the sale after the importation of, or otherwise transferring Jeuveau ® within the United States, (v) a bond issued during the presidential review period, (vi) the return of Medytox’s trade secrets and other confidential information including the alleged stolen botulinum toxin bacterial strain, and (vii) exclusion and cease and desist orders. The Company intends to defend itself vigorously in the proceedings. In January 2020, the three sets of parties to the ITC action, (i) the Complainants - Allergan and Medytox, (ii) the Respondents - the Company and Daewoong and (iii) the OUII, each submitted pre-hearing briefs to the Administrative Law Judge assigned to the ITC action setting forth each party’s positions on the substantive issues prior to the evidentiary hearing. From February 4 to 7, 2020, the Administrative Law Judge held an evidentiary hearing on the ITC action. In July 2020, the Administrative Law Judge issued an initial determination in which the judge found a violation of Section 337 of the Tariff Act of 1930 had occurred by reason of a misappropriation of trade secrets and recommended the entry of an exclusion order that would prevent the Company from importing Jeuveau ® into the United States and a cease and desist order that would prevent the Company from selling Jeuveau ® for a period of ten years. A final determination by the ITC is expected to be issued in November 2020, with such final determination subject to a 60-day presidential review period before becoming final. In order to make any sales of Jeuveau ® during the presidential review period the Company would be required to pay a bond at a rate set by the ITC for any sales during the period. Except in certain limited circumstances, the amount of the bond may make any sales during the period prohibitively expensive. The Company strongly disagrees with the initial determination by the Administrative Law Judge and intends to continue to vigorously defend itself in this matter. In July 2020, the Company submitted a petition for review of the initial determination to the ITC. Specifically, the Company petitioned for review with respect to subject matter jurisdiction, standing, trade secret existence and misappropriation, and domestic industry, including the existence of such domestic industry as well as any actual or threatened injury thereto. On September 21, 2020, the ITC provided notice of its intention to review the initial determination and its decision is expected in November 2020. In the event that the ITC affirms the Administrative Law Judge’s initial determination in its final determination without any modification, we would be prevented from importing Jeuveau ® into the United States and from selling Jeuveau ® in the United States, which would prevent the Company from generating revenue from its sole product, Jeuveau ® and would materially and adversely affect the Company’s ability to carry out its business, and to continue as a going concern. Even if the Company is successful in having the decision modified or reversed during the presidential review or in appealing any such final determination, the Company may find it difficult or be prevented from importing, marketing or selling Jeuveau® in the United States during the pendency of those events. Further, any modification of the Administrative Law Judge’s initial determination in the ITC’s final determination or any final decision following any such presidential review or other appeal may nonetheless still result in restrictions on the Company’s ability to import and market and sell Jeuveau ® in the United States, which could also materially and adversely affect the Company’s ability to generate revenue from Jeuveau ® , to carry out its business, and to continue as a going concern. In any of these scenarios, the Company may be required to seek protection under the bankruptcy laws, including a possible liquidation of its assets, or may be forced to reduce, significantly restructure or discontinue its operations entirely, any of which would have a material adverse effect on the Company’s business, financial position, results of operations, or cash flows, would cause its stock price to decline and would also result in reputational harm. Additionally, in the event the ITC affirms the Administrative Law Judge’s initial determination in its final determination without modification, it is expected that an event of default would occur under the Oxford credit facility after the imposition of an exclusion order and cease and desist order either after the exhaustion of all appeals that the Company may have or earlier. Such an event of default may also occur if the Administrative Law Judge’s initial determination in the ITC’s final determination is modified in a manner that results in restrictions on the Company’s ability to import and market and sell Jeuveau ® in the United States. Additionally. under the credit facility, in the event of default, a default interest rate equal to the applicable rate plus 5.0% would apply and Oxford, as collateral agent, could exercise remedies against the Company and the collateral securing the credit facility, including foreclosure against the property securing the credit facility, including cash. If Oxford were to declare an event of default under the credit facility and exercise its remedies, it would materially and negatively affect the Company’s business, results of operation, financial condition and could result in the Company declaring bankruptcy. The Company is unable to determine the likelihood of any outcome, including the ITC affirming the initial determination or whether the ITC would significantly modify or reverse such initial determination, and an estimate of the possible loss or range of loss cannot be made. Indemnification from Daewoong With respect to each of the Medytox Litigation and the ITC action, the Company believes that it is entitled to indemnity from Daewoong under the Daewoong Agreement. Subject to the terms of the Daewoong Agreement, Daewoong has agreed to indemnify the Company from and against any and all losses, costs, expenses, liabilities and damages of every kind and nature (including, without limitation, reasonable attorney fees) arising from: (a) willful misconduct or any grossly negligent acts or omissions on the part of Daewoong or its employees or agents in performing duties obligations in connection with the Daewoong Agreement; (b) Daewoong’s breach of the Daewoong Agreement, or (c) an allegation that Jeuveau ® or any Daewoong Trademark infringes or misappropriates the rights, including without limitation, intellectual property rights, of a third party; except to the extent that any such claim is caused by the Company’s own willful misconduct or grossly negligent acts or omissions. In the event of a negative outcome in either the Medytox Litigation or the ITC action the Company intends to pursue recovery from Daewoong under such indemnification obligations, however the indemnity may require expensive and time consuming legal action to pursue, Daewoong may be unable to meet its full obligation, or the recovery may not be sufficient to address all of the Company’s losses, costs, expenses, liabilities and damages. Further, any such indemnity claim by the Company is subject to offset by the then-outstanding principal amount and accrued interest of the $40,000 principal amount of the Daewoong Convertible Note issued by the Company to Daewoong. See Note 7. Daewoong Convertible Note for further information. In the event the indemnification proves to be inadequate or while the Company is still pursuing recovery from Daewoong under its indemnification obligations, the Company may be required to seek protection under the bankruptcy laws, including a possible liquidation of its assets, or may be forced to reduce, significantly restructure or discontinue its operations entirely, any of which would have a material adverse effect on the Company’s business, financial position, results of operations, or cash flows, would cause its stock price to decline and would also result in reputational harm. Securities Class Action Lawsuit On October 16, 2020, a putative securities class action complaint was filed in the U.S. District Court for the Southern District of New York by Armin Malakouti naming the Company and certain of its officers as defendants. The complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder, claiming that the defendants made false and materially misleading statements and failed to disclose material adverse facts related to the Company’s acquisition of the right to sell Jeuveau ® , the ITC action and risks related to the ITC action. The complaint asserts a putative class period of February 1, 2019 to July 6, 2020. The complaint has not yet been served. It is possible that additional suits will be filed, or additional allegations will be made by stockholders, with respect to these same or similar or other matters and also naming the Company and/or our officers and directors as defendants. The Company believes that the complaint is without merit and intends to vigorously defend against it. However, the outcome of the legal proceeding is uncertain at this point. Based on information available to the Company at present, it cannot reasonably estimate a range of loss and accordingly has not accrued any liability associated with this action. Other Legal Matters The Company, from time to time, is involved in various litigation matters or regulatory encounters arising in the ordinary course of business that could result in unasserted or asserted claims or litigation. These other matters may raise difficult and complex legal issues and are subject to many uncertainties, including, but not limited to, the facts and circumstances of each particular case or claim, the jurisdiction in which each suit or regulatory encounter is brought, and differences in applicable laws and regulations. Except as set forth above, the Company does not believe that these other matters would have a material adverse effect on its accompanying financial position, results of operations or cash flows. However, the resolution of one or more of the other matters in any reporting period could have a material adverse impact on the Company’s financial results for that period.

Stockholders_ Equity

Stockholders’ Equity	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stockholder's Equity	Stockholders’ Equity Preferred Stock The Company has 10,000,000 authorized shares of preferred stock with a par value of $0.00001 per share. As of September 30, 2020, none were issued and outstanding. Common Stock The Company has 100,000,000 authorized shares of common stock with a par value of $0.00001 per share. As of September 30, 2020, 33,749,228 shares were issued and outstanding. 2017 Omnibus Incentive Plan and Stock-based Compensation Allocation The Company’s 2017 Omnibus Incentive Plan (the “Plan”) provides for the grant of incentive options to employees of the Company, and for the grant of nonstatutory options, restricted stock awards, restricted stock unit awards, stock appreciation rights, performance stock awards and other forms of stock compensation to the Company’s employees, including officers, directors, consultants and employees of the Company. The maximum number of shares of common stock that may be issued under the Plan is 4,361,291 shares, plus an annual increase on each anniversary of November 21 equal to 4% of the total issued and outstanding shares of the Company’s common stock as of such anniversary (or such lesser number of shares as may be determined by the Company’s board of directors). As of September 30, 2020, the Company has available an aggregate of 795,531 shares of common stock for future issuance under the Plan. Stock-Based Award Activity and Balances Options are granted at exercise prices based on the Company’s common stock price on the date of grant. The options and RSU grants generally vest over a one The weighted-averages assumptions used in determining the fair value of stock options granted were as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Volatility 70.3 % 59.7 % 60.0 % 59.3 % Risk-free interest rate 0.38 % 2.40 % 1.53 % 2.57 % Expected life (years) 6.25 6.25 6.24 6.18 Dividend yield rate — % — % — % — % A summary of stock option activity under the Plan for the nine months ended September 30, 2020, is presented below: Weighted Weighted Average Average Remaining Aggregate Stock Exercise Contractual Intrinsic Options Per Share Terms (Years) Value Outstanding, December 31, 2019 3,977,401 $ 14.07 8.51 $ 7,198 Granted 1,162,244 9.68 Exercised — — Canceled/forfeited (764,720) 15.90 Outstanding, September 30, 2020 4,374,925 $ 12.59 8.00 $ 29 Exercisable, September 30, 2020 1,694,972 $ 12.58 7.44 $ — The aggregate intrinsic value of outstanding and exercisable options represents the excess of the fair market value of our common stock over the exercise price of underlying options as of September 30, 2020 and December 31, 2019. A summary of RSU activity under the Plan for the nine months ended September 30, 2020, is presented below: Weighted Average Grant Date Restricted Fair Value Stock Units Per Share Outstanding, December 31, 2019 229,870 $ 15.89 Granted 1,153,574 6.18 Vested (186,870) 13.60 Forfeited (86,207) 8.44 Outstanding, September 30, 2020 1,110,367 $ 6.76 The following table summarizes stock-based compensation expense arising from the above Plan: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Selling, general and administrative $ 2,924 $ 2,417 $ 7,802 $ 6,443 Research and development 28 109 152 538 $ 2,952 $ 2,526 $ 7,954 $ 6,981

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Services with Alphaeon In January 2018, the Company entered into a services agreement with Alphaeon Corporation (“Alphaeon”), or the services agreement, which became effective upon the Company’s initial public offering (“IPO”). In 2019 Alphaeon changed its name to AEON Biopharma, Inc. and contributed all of the shares it held in the Company to Alphaeon 1, LLC. The Company continues to refer to the renamed AEON Biopharma, Inc. as “Alphaeon” and Alphaeon 1, LLC as Alphaeon 1, LLC. The services agreement sets forth certain agreements between Alphaeon and the Company that governs the respective responsibilities and obligations between Alphaeon and the Company as it relates to the services to be performed between them. The services agreement has a one-year term and thereafter will renew for successive one-year terms unless sooner terminated by either party. The Company or Alphaeon may terminate the services agreement upon sixty days’ notice to the other party. There were no significant services provided under the services agreement after the Company’s initial public offering. As of September 30, 2020 and December 31, 2019, Evolus had no related party accounts receivable or payable with Alphaeon. Payment Obligations Related to the Acquisition by Alphaeon The Company was acquired by SCH in 2013 and subsequently by its subsidiary, Alphaeon Corporation, by means of a stock purchase agreement (“Stock Purchase Agreement”) pursuant to which Alphaeon assumed certain payment obligations related to the acquisition. On December 14, 2017, the Stock Purchase Agreement was amended (“Amended Stock Purchase Agreement”), and, as a result, effective upon the closing of the Company’s initial public offering, the Company assumed all of Alphaeon’s payment obligations under the Amended Stock Purchase Agreement. Under the Amended Stock Purchase Agreement, the payment obligations consisted of (i) a $9,200 up-front payment upon obtaining FDA approval for Jeuveau ® for the treatment of glabellar lines which was paid in full during the first quarter of 2019, (ii) quarterly royalty payments of a low single digit percentage of net sales of Jeuveau ® , and (iii) a $20,000 promissory note that matures in November 2021. The payment obligations set forth in (ii) above terminates in the quarter following the 10-year anniversary of the first commercial sale of Jeuveau ® in the United States. Under the Amended Stock Purchase Agreement, the Company recorded the fair value of all revised payment obligations and the promissory note owed to the Evolus Founders. See Note 3 , Fair Value Measurements and Short-Term Investments for more information about the Company’s accounting thereof. Under the Amended Stock Purchase Agreement, Evolus paid one-time bonuses of $1,575 to certain current and former employees upon FDA approval of Jeuveau ® in February 2019, including a one-time bonus of $700 paid to the Company’s Chief Medical Officer and Head of Research & Development. The payment is included in research and development expenses in the accompanying condensed statements of operations and comprehensive loss for the nine months ended September 30, 2019. The Company has the right to prepay the promissory note, in whole or in part, at any time and from time to time without penalty. Upon an event of default under the promissory note, all unpaid principal becomes immediately due and payable at the option of the holder. An event of default occurs under the terms of the promissory note upon any of the following events: (i) Evolus fails to meet the obligations to make the required payments thereunder, (ii) Evolus makes an assignment for the benefit of creditors, (iii) Evolus commences any bankruptcy proceeding, or (iv) Evolus materially breaches the Amended Stock Purchase Agreement or Tax Indemnity Agreement (which is defined below) and such breach is not cured within 30 days. In addition, upon a change-of-control of Evolus, all unpaid principal becomes immediately due and payable. Under the terms of the promissory note, a change-of-control is defined as (i) the sale of all or substantially all of Evolus’ assets, (ii) the exclusive license of Jeuveau ® or the business related to Jeuveau ® to a third-party (other than a sublicense under the Daewoong Agreement), or (iii) any merger, consolidation, or acquisition of Evolus, except a merger, consolidation, or acquisition of Evolus in which the holders of capital stock of Evolus immediately prior to such merger, consolidation, or acquisition hold at least 50% of the voting power of the capital stock of Evolus or the surviving entity. Notwithstanding the foregoing, the promissory note expressly provides that neither the IPO or any merger with or acquisition by Alphaeon or any of its subsidiaries or affiliates constitutes a change-of-control. In connection with the Amended Stock Purchase Agreement, the Company entered into a tax indemnity agreement with the Evolus Founders (“Tax Indemnity Agreement”). Pursuant to the Tax Indemnity Agreement, the Company is obligated to indemnify the Evolus Founders for any tax liability resulting from the Company’s assumption of the revised payment obligations under the Amended Stock Purchase Agreement from Alphaeon. Such assumption of the revised payment obligations occurred upon the completion of the IPO. Under the Amended Stock Purchase Agreement, the payment obligations are contingent and thus eligible for installment sale reporting under Section 453 of the Internal Revenue Code of 1986, as amended. Under the Tax Indemnity Agreement, the Company was obligated to indemnify the Evolus Founders for any taxes or penalties required to be paid by the Evolus Founders in the event the U.S. Internal Revenue Service or other taxing authority were to determine that Company’s assumption of the revised payment obligations under the Amended Stock Purchase Agreement rendered continued installment sale reporting unavailable to the Evolus Founders. Any taxes or penalties paid by us on behalf of the Evolus Founders under the Tax Indemnity Agreement will be offset dollar-for-dollar against the promissory note and future royalties that will be payable to the Evolus Founders under the Amended Stock Purchase Agreement. Exclusive Distribution and Supply Agreement with Clarion Medical Technologies Inc. On November 30, 2017, the Company entered into an exclusive distribution and supply agreement (the “Distribution Agreement”), with Clarion Medical Technologies Inc. (“Clarion”). The Distribution Agreement provides terms pursuant to which the Company will exclusively supply Jeuveau ® to Clarion in Canada. Clarion was previously a wholly-owned subsidiary of Alphaeon. However, pursuant to previous agreements among Alphaeon, Clarion, and previous equity holders of Clarion, the previous equity holders of Clarion had the option, and exercised such option, to unwind Alphaeon’s acquisition of Clarion. As a result, Alphaeon owes the equity holders of Clarion an unwinding fee of $9,550 (the “Unwinding Fee”). The Distribution Agreement sets forth that a portion of the proceeds received by the Company from each unit of Jeuveau ®

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements have been prepared on a consistent basis with the annual financial statements and in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the requirements of the Securities and Exchange Commission (“SEC”) for interim reporting. Pursuant to these SEC rules and regulations, the Company has condensed or omitted certain financial information and disclosures normally included in annual financial statements prepared in accordance with GAAP. In the opinion of management, the interim financial statements reflect all adjustments, which include normal recurring adjustments, considered necessary for a fair
Use of Estimates	Use of Estimates Management is required to make certain estimates and assumptions in order to prepare financial statements in conformity with GAAP. Such estimates and assumptions affect the reported financial statements. The Company’s most significant estimates relate to net revenues, allowance for doubtful accounts, fair value measurements, goodwill and long-lived asset valuations and impairment assessments, inventory valuations, income tax valuations, stock-based compensation, royalty obligations, and outcomes of legal proceedings, among others. Management bases estimates on historical experience and on assumptions that management believes are reasonable. The Company’s actual results could differ materially from those estimates. Additionally, the full impact of the COVID-19 outbreak is unknown and cannot be reasonably estimated. However, where possible, management has made appropriate accounting estimates with respect to certain accounting matters, which include the fair value of royalty obligations, allowance for doubtful accounts, inventory valuation and impairment assessments of goodwill and other long-lived assets, based on the facts and circumstances available as of the reporting date. The Company’s future assessment of the magnitude and duration of the COVID-19 outbreak, as well as other factors, could result in material impacts to the Company’s financial statements in future reporting periods.
Risks and Uncertainties	Risks and Uncertainties In 2013, Evolus and Daewoong entered into an agreement (the “Daewoong Agreement”), pursuant to which, the Company has an exclusive distribution license to Jeuveau ® from Daewoong for aesthetic indications in the United States, European Union, Canada, Australia, Russia, Commonwealth of Independent States, and South Africa, as well as co-exclusive distribution rights with Daewoong in Japan. Jeuveau ® is manufactured by Daewoong in a facility in South Korea. The Company also has the option to negotiate first with Daewoong to secure a distribution license for any product that Daewoong directly or indirectly develops or commercializes that is classified as an injectable botulinum toxin (other than Jeuveau ® ) in a territory covered by the Daewoong Agreement. The Company relies on Daewoong, its exclusive and sole supplier, to manufacture Jeuveau ® . Any termination or loss of significant rights, including exclusivity, under the Daewoong Agreement would materially and adversely affect the Company’s commercialization of Jeuveau ® . The Daewoong Agreement, and Daewoong’s rights relating to Jeuveau ® , are subject to litigation. In July 2020, the Administrative Law Judge assigned to the ITC action to which the Company is a party issued an initial determination in which the judge found a violation of Section 337 of the Tariff Act of 1930 had occurred by reason of a misappropriation of trade secrets and recommended the entry of an exclusion order that would prevent us from importing Jeuveau ® into the United States for a period of ten years and a cease and desist order that would prevent the Company from selling Jeuveau ® in the United States for the same period of time. A final determination by the ITC is expected to be issued in November 2020, with such final determination subject to a 60-day presidential review period before becoming final. In order to make any sales of Jeuveau ® during the presidential review period the Company would be required to pay a bond at a rate set by the ITC for any sales during the period. Except in limited circumstances, the amount of the bond may make any sales during the period prohibitively expensive. The Company strongly disagrees with the initial determination by the Administrative Law Judge and intends to continue to vigorously defend itself in this matter. Specifically, the Company petitioned for review with respect to subject matter jurisdiction, standing, trade secret existence and misappropriation, and domestic industry, including the existence of such domestic industry as well as any actual or threatened injury thereto. In the event that the ITC’s final determination affirms the Administrative Law Judge’s initial determination, the Company would be prevented from importing Jeuveau ® into the United States and from marketing and selling Jeuveau ® in the United States, which would prevent the Company from generating revenue from the Company’s sole product, Jeuveau ® and would materially and adversely affect the Company’s ability to carry out its business, and to continue as a going concern. Even if the Company is successful in having the decision modified or reversed during the presidential review or in appealing any such final determination, the Company may find it difficult or be prevented from importing, marketing or selling Jeuveau ® in the United States during the pendency of those events. Further, any modification of the Administrative Law Judge’s initial determination in the ITC’s final determination or any final decision following any such presidential review or other appeal may nonetheless still result in restrictions on the Company’s ability to import and market and sell Jeuveau ® in the United States, which could also materially and adversely affect the Company’s ability to generate revenue from Jeuveau ® , to carry out its business, and to continue as a going concern. In any such event, the Company may be required to seek protection under the bankruptcy laws, including a possible liquidation of its assets, or may be forced to reduce, significantly restructure or discontinue its operations entirely, any of which would have a material adverse effect on the Company’s business, financial position, results of operations, or cash flows, would cause its stock price to decline and would also result in reputational harm. Even if the Company is successful, the ITC action may result in reputational damage or other collateral consequences. In addition, it is expected that an event of default under the Company’s credit agreement with Oxford would occur after the imposition of an exclusion order and cease and desist order and Oxford would be able to declare an event of default after the exhaustion of all appeals that the Company may have or earlier. If Oxford were to declare an event of default under the credit facility and exercise its remedies, it would materially and negatively affect the Company’s business, results of operation, financial condition and could result in the Company declaring bankruptcy. See Note 8. Commitments and Contingencies for additional information regarding such litigation. The Company commercially launched Jeuveau ® in the United States in May 2019 and in Canada through a distribution partner in October 2019 and, as such, has a limited history of sales. If any previously granted approval is retracted or the Company is denied approval or approval is delayed by any other regulators, it may have a material adverse impact on the Company’s business and its financial statements. The Company is also subject to risks common to companies in the pharmaceutical industry including, but not limited to, dependency on the commercial success of Jeuveau ® , the Company’s sole commercial product, significant competition within the medical aesthetics industry, its ability to maintain regulatory approval of Jeuveau ® , the need for additional financing to achieve its goals, third party litigation and challenges to its intellectual property, uncertainty of broad adoption of its product by physicians and patients, its ability to in-license, acquire or develop additional product candidates and to obtain the necessary approvals for those product candidates, and the need to scale manufacturing capabilities over time. The recent COVID-19 outbreak and restrictions intended to slow the spread of COVID-19, including quarantines, government-mandated actions, stay-at-home orders and other restrictions, have adversely affected the Company’s business in a number of ways, which have resulted, and may continue to result, in a period of business disruption and in reduced sales and operations. In addition, any disruption and volatility in the global capital markets may increase the Company’s cost of capital and adversely affect its ability to access financing when and on terms that we desire. Any of these events could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows.
Segment Reporting	Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker. The Company has determined that it operates in a single operating and reportable segment. The Company’s chief operating decision maker is its Chief Executive Officer who manages operations and reviews the financial information as a single operating segment for purposes of allocating resources and evaluating its financial performance.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with remaining maturities at purchase of three months or less that can be liquidated without prior notice or penalty. Cash and cash equivalents may include deposits, money market funds and debt securities. Amounts receivable from credit card issuers are typically converted to cash within two to four days of the original sales transaction and are considered to be cash equivalents. The Company places its cash and cash equivalents with high credit quality financial institutions. At most times, such investments are in excess of the Federal Deposit Insurance Corporation (“FDIC”) limit. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash deposits.
Short-Term Investments	Short-Term InvestmentsShort-term investments as of September 30, 2020 consisted of available-for-sale U.S. Treasury securities with original maturities greater than three months and remaining maturities of less than twelve months. These investments are recorded at fair value based on quoted prices in active markets, with unrealized gains and losses reported in other comprehensive (loss) gain in the Company’s condensed statements of operations and comprehensive loss. Purchase premiums and discounts are recognized in interest expense using the effective interest method over the terms of the securities. Realized gains and losses and declines in fair value that are deemed to be other than temporary are reflected in the condensed statements of operations and comprehensive loss using the specific-identification method. The Company periodically reviews all available-for-sale securities for other than temporary declines in fair value below the cost basis whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company also evaluates whether it has plans or is required to sell short-term investments before recovery of their amortized cost bases. To date, the Company has not identified any other than temporary declines in fair value of its short-term investments.
Inventories	Inventories Inventories consist of finished goods held for sale and distribution. Cost is determined using the first-in, first-out method with prioritization of the items with the earliest expiration dates. Inventory valuation reserves are established based on a number of factors including, but not limited to, finished goods not meeting product specifications, product excess and obsolescence, or application of the lower of cost or net realizable value concepts. The determination of events requiring the establishment of inventory valuation reserves, together with the calculation of the amount of such reserves may require judgment. No material inventory valuation reserves have been recorded for the periods presented. Adverse changes in assumptions utilized in the Company’s inventory reserve calculations could result in an increase to its inventory valuation reserves.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is defined as the exchange price that would be received for an asset or an exit price paid to transfer a liability in an orderly transaction between market participants in a principal market on the measurement date. The fair value hierarchy defines a three-tiered valuation hierarchy for disclosure of fair value measurement is classified and disclosed by the Company in one of the three categories as follows: • Level 1—Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; • Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities in active markets; quoted prices in markets that are not active; or other inputs that are observable, either directly or indirectly, or can be corroborated by observable market data for substantially the full term of the asset or liability; and • Level 3—Prices or valuation techniques that require inputs that are unobservable that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The categorization of a financial instrument within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.
Goodwill	GoodwillGoodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. The Company reviews goodwill for impairment annually and whenever events or changes in circumstances indicate the carrying amount of goodwill may not be recoverable. The Company performs an annual qualitative assessment of its goodwill in the fourth quarter of each calendar year to determine if any events or circumstances exist, such as an adverse change in business climate or a decline in the overall industry demand, that would indicate that it would more likely than not reduce the fair value of a reporting unit below its carrying amount, including goodwill. If events or circumstances do not indicate that the fair value of a reporting unit is below its carrying amount, then goodwill is not considered to be impaired and no further testing is required. If further testing is required, the Company performs a two-step process. The first step involves comparing the fair value of the Company’s reporting unit to its carrying value, including goodwill. If the carrying value of the reporting unit exceeds its fair value, the second step of the test is performed by comparing the carrying value of the goodwill in the reporting unit to its implied fair value. An impairment charge is recognized for the excess of the carrying value of goodwill over its implied fair value. For the purpose of impairment testing, the Company has determined that it has one reporting unit.
Intangible Assets	Intangible Assets Upon FDA approval of Jeuveau ® in February 2019, the in-process research and development (“IPR&D”) related to Jeuveau ® was evaluated as completed and reclassified to a definite-lived distribution right intangible asset, which is amortized over the period the asset is expected to contribute to the future cash flows of the Company. The Company determined the pattern of this intangible asset’s future cash flows could not be readily determined with a high level of precision. As a result, the distribution right intangible asset is being amortized on a straight-line basis over the estimated useful life of 20 years. The Company capitalizes certain internal-use software costs associated with the development of its mobile and web-based customer platforms. These costs include personnel expenses and external costs that are directly associated with the software projects. These costs are included as intangible assets in the accompanying condensed balance sheets. The capitalized internal-use software costs are amortized on a straight-line basis over the estimated useful life of two years upon being placed in service. The Company reviews long-term and identifiable definite-lived intangible assets or asset groups for impairment when events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the asset or an asset group, further impairment analysis is performed. An impairment loss is measured as the amount by which the carrying amount of the asset or asset groups exceeds the fair value for assets to be held and used or fair value less cost to sell for assets to be disposed of. The Company also reviews the useful lives of its assets periodically to determine whether events and circumstances warrant a revision to the remaining useful life. Changes in the useful life are adjusted prospectively by revising the remaining period over which the asset is amortized. There was no material impairment of long-lived assets for any periods presented.
Leases	Leases In accordance with Accounting Standards Codification 842, Leases (“ASC 842”), at the inception of a contractual arrangement, the Company determines whether the contract contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. If both criteria are met, upon lease commencement, the Company records a lease liability which represents the Company’s obligation to make lease payments arising from the lease, and a corresponding right-of-use (“ROU”) asset which represents the Company’s right to use an underlying asset during the lease term. Operating lease assets and liabilities are included in ROU assets, current portion of operating lease liabilities and noncurrent operating lease liabilities in the accompanying condensed balance sheets. Operating lease ROU assets and lease liabilities are initially recognized based on the present value of the future minimum lease payments over the lease term at commencement date calculated using the Company’s incremental borrowing rate applicable to the underlying asset unless the implicit rate is readily determinable. Operating lease ROU assets also include any lease payments made at or before lease commencement and exclude any lease incentives received, if any. The Company
Research and Development Expenses	Research and Development Expenses Research and development costs are expensed as incurred. Research and development expenses include personnel-related costs including stock based compensation, costs associated with pre-clinical and clinical development activities, costs associated with and costs for prototype products that are manufactured prior to market approval for that prototype product, internal and external costs associated with the Company’s regulatory compliance and quality assurance functions, including the costs of outside consultants and contractors that assist in the process of submitting regulatory filings, and overhead costs, including allocated facility related expenses.
Contingent Royalty Obligation Payable to the Evolus Founders	Contingent Royalty Obligation Payable to the Evolus Founders The Company determines the fair value of the contingent royalty obligation payable at each reporting period end based on Level 3 inputs using a discounted cash flows method. Changes in the fair value of the contingent royalty obligation payable are determined at each reporting period end and recorded in operating expenses in the accompanying condensed statements of operations and comprehensive loss and as a liability in the condensed balance sheets. Contingent Promissory Note Payable to Evolus Founders
Long-Term Debt	Long-Term Debt Long-term debt represents the debt balance with Oxford and the Daewoong Convertible Note (as defined in Note 7. ), net of debt issuance costs. Debt issuance costs represent legal, lender and consulting costs or fees associated with debt financing. Debt discounts and issuance costs are allocated pro rata between the funded and unfunded portions of the debt and are amortized into interest expense over the term of the debt.
Revenue Recognition	Revenue Recognition The Company applies Accounting Standards Codification 606, Revenue from Contracts with Customers (“ASC 606”), to account for revenue generated since the commercial launch of Jeuveau ® in May 2019. The Company recognizes revenue when control of the promised goods or services is transferred to its customers, in an amount that reflects the consideration to which the Company expects to be entitled in exchange for the goods or services. In order to achieve that core principle, a five-step approach is applied: (1) identify the contract with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue allocated to each performance obligation when the Company satisfies the performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account for revenue recognition. General The Company generates product revenue from the sale of Jeuveau ® in the United States and service revenue from the sale of Jeuveau ® through a distribution partner in Canada. For product revenue, the Company recognizes revenue when control of the promised goods under a contract is transferred to a customer, in an amount that reflects the consideration the Company expects to receive in exchange for those goods as specified in the customer contract. The transfer of control occurs upon receipt of the goods by the customer since that is when the customer has obtained control of the goods’ economic benefits. The Company does not provide any service-type warranties and does not accept product returns except under limited circumstances such as damages in transit or ineffective product. The Company also excludes any amounts related to taxes assessed by governmental authorities from revenue measurement. Shipping and handling costs associated with outbound product freight are accounted for as fulfillment costs and are included in selling, general and marketing expenses in the accompanying condensed statements of operations and comprehensive loss. For service revenue, the Company evaluated the arrangement with the distribution partner in Canada and determined that it acts as an agent in the distribution of Jeuveau ® in Canada as it does not control the product before control is transferred to a customer. The indicators of which party exercises control include primary responsibility over performance obligations, inventory risk before the good or service is transferred and discretion in establishing the price. Accordingly, the Company records the sale as service revenue on a net basis. Revenue from services is recognized in the period the service is performed for the amount of consideration expected to be received. The Company recognized $738 of revenues related to Canada sales for the three and nine months ended September 30, 2020 and $0 for the three and nine months ended September 30, 2019. Disaggregation of Revenue The Company’s disaggregation of revenue is consistent with its operating segment as disclosed above. Gross-to-Net Revenue Adjustments The Company provides customers with discounts, such as trade and volume discounts and prompt pay discounts, that are directly reflected in the invoice price. Revenues are recorded net of sales-related adjustments, wherever applicable, primarily for the volume-based rebates, coupon and consumer loyalty programs. • Volume-based Rebates — Volume-based rebates are contractually offered to certain customers. The rebates payable to each customer are determined based on the contract and quarterly purchase volumes. • Coupons — The Company issued customers coupons redeemable into gift cards funded by the Company for the benefit of patients. The coupons are accounted for as variable consideration. The Company estimates the coupon redemption rates based on historical data and future expectations. The coupons are accrued based on estimated redemption rates and the volume of products purchased and are recorded as a reduction to revenues on product delivery. All issued coupons expired on June 30, 2020. • Consumer Loyalty Program — In May 2020, the Company announced the launch of a consumer loyalty program, which allows participating customers to earn rewards for qualifying treatments to their patients (i.e. consumers) using Jeuveau® and redeem the rewards for Jeuveau® in the future at no additional cost. The loyalty program represents a customer option that provides a material right and, accordingly, is a performance obligation. At the time Jeuveau® product is sold to customers, the invoice price is allocated between the product sold and the estimated material right reward (“Reward”) that the customer might redeem in the future. The standalone selling price of the Reward is measured based on historical sales data, average selling price of Jeuveau® at the time of redemption, expected customer and consumer participation rates in the loyalty program, and estimated number of qualifying treatments to be performed by customers. The portion of invoice price allocated to the Reward is initially recorded as deferred revenue. Subsequently, when customers redeem the Reward and the related product is delivered, the deferred revenue is recognized in net revenue at that time. As of September 30, 2020 and December 31, 2019, the accrued revenue contract liabilities, primarily related to volume-based rebates, coupons and consumer loyalty program, were $2,371 and $1,709, respectively, which were recorded in the accrued expenses in the accompanying condensed balance sheets. The Company recorded provisions of $2,378 and $5,740 for the three months ended September 30, 2020 and 2019, respectively, and provisions of $12,607 and $6,671 for the nine months ended September 30, 2020 and 2019, respectively. The related payments, redemptions and adjustments were $806 and $2,739 for the three months ended September 30, 2020 and 2019, respectively, and $11,945 and $2,739 for the nine months ended September 30, 2020 and 2019, respectively. Contract balances A contract with a customer states the terms of the sale, including the description, quantity and price of each product purchased. Amounts are recorded as accounts receivable when the Company’s right to consideration becomes unconditional. The Company does not have any significant financing components in customer contracts given the expected time between transfer of the promised products and the payment of the associated consideration is less than one year. As of September 30, 2020 and December 31, 2019, all amounts included in accounts receivable, net on the accompanying condensed balance sheets are related to contracts with customers. The Company did not have any contract assets nor unbilled receivables as of September 30, 2020 or December 31, 2019. Sales commissions are included in selling, general and administrative expenses when incurred. Contract liabilities reflect estimated amounts that the Company is obligated to pay to customers or patients primarily under the rebate and coupon programs and deferred revenue associated with Reward under the consumer loyalty program. The Company’s contract liabilities are included in accounts payable and accrued expenses in the accompanying condensed balance sheets. During the three and nine months ended September 30, 2020, the Company did not recognize any revenue related to changes in transaction prices regarding its contracts with customers and did not recognize any material changes in revenue related to amounts included in contract liabilities at the beginning of the period. Collectability Accounts receivable are recorded at the invoiced amount and do not bear interest. At the time of contract inception or new customer account set-up, the Company performs a collectability assessment of the customer’s creditworthiness. The Company assesses the probability that the Company will collect the entitled consideration in exchange for the goods sold, by considering the customer’s ability and intention to pay when consideration is due. On a recurring basis, the Company estimates the amount of receivables considered uncollectable to reflect an allowance for doubtful accounts. The Company writes off accounts receivable balances when it is determined that there is no possibility of collection. As of September 30, 2020 and December 31, 2019, allowance for doubtful accounts was $2,656 and $387, respectively. For the three and nine months ended September 30, 2020, recovery of and provision for bad debts was $168 and $2,439, respectively, and the write-off amount was $0 and $171, respectively. For the three and nine months ended September 30, 2019, there was no provision for allowance for doubtful accounts or write-offs. Practical Expedients The Company expenses sales commissions when incurred as the amortization period is one year or less. These costs are recorded within selling, general and administrative expenses in the accompanying condensed statements of operations and comprehensive loss. The Company does not adjust the amount of promised consideration for the effects of the time value of money for contracts in which the anticipated period between when the Company transfers the goods or services to the customer and when the customer pays within one year.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes stock-based compensation expense for employees, consultants and members of the Board of Directors based on the fair value at the date of grant. The Company uses the Black-Scholes option pricing model to value stock option grants. The Black-Scholes option pricing model requires the input of subjective assumptions, including the expected volatility of the Company’s common stock, expected risk-free interest rate, and the option’s expected life. The fair value of the Company’s restricted stock units
Income Taxes	Income Taxes The Company applies an estimated annual effective tax rate (“ETR”) approach for calculating a tax provision or benefit for interim periods, as required under GAAP. The Company recorded a tax benefit of $27 and $149 for the three months ended September 30, 2020 and 2019, respectively, and a tax provision of $227 and a tax benefit of $14,899 for the nine months ended September 30, 2020 and 2019, respectively. The Company’s ETR differs from the U.S. federal statutory tax rate of 21% for the three and nine months ended September 30, 2020 and 2019, primarily as a result of the impact of a valuation allowance on its deferred tax assets and state minimum taxes. The tax benefit recorded for the nine months ended September 30, 2019 was primarily a result of the reduction of the valuation allowance recorded against the Company’s deferred tax assets. A valuation allowance is recorded against deferred tax assets to reduce the net carrying value when it is more likely than not that some portion or all of a deferred tax asset will not be realized. In making such a determination, management considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, and ongoing prudent and feasible tax planning strategies in assessing the amount of the valuation allowance. When the Company establishes or reduces the valuation allowance against its deferred tax assets, its provision for income taxes will increase or decrease, respectively, in the period such determination is made. As of each reporting date, the Company considers evidence, both positive and negative, that could affect its view of the future realization of deferred tax assets. Upon FDA approval of Jeuveau ® in February 2019, the Company’s IPR&D intangible asset was reclassified to a definite-lived distribution right intangible asset. As a result, management determined that it was more likely than not that certain deferred tax assets became realizable due to the future reversals of the deferred tax liability associated with such intangible asset. Accordingly, the Company released $14,402 of its valuation allowance as a discrete item upon FDA approval in February 2019. Additionally, the Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefit recognized in the financial statements for a particular tax position is based on the largest benefit that is more likely than not to be realized upon settlement. Accordingly, the Company establishes reserves for uncertain tax positions. On March 27, 2020, the United States enacted the Coronavirus Aid, Relief and Economic Security Act (CARES Act). The Cares Act is an emergency economic stimulus package that includes spending and tax breaks to strengthen the United States economy and fund a nationwide effort to curtail the effect of COVID-19. While the CARES Act provides sweeping tax changes in response to the COVID-19 pandemic, some of the more significant provisions which are expected to impact the Company’s financial statements include removal of certain limitations on utilization of net operating losses, and increasing the ability to deduct interest expense, as well as amending certain provisions of the previously enacted Tax Cuts and Jobs Act. Due to the valuation allowance on the Company’s deferred tax assets, the Company estimates that the impact of the CARES Act on its financial statements to be immaterial. Management will continue to monitor changes in tax legislation and further guidance on the CARES Act as they become available in the subsequent periods. The Company monitors changes to the tax laws in the states it conducts business and files corporate income tax returns. The Company does not expect that changes to state tax laws through September 30, 2020, including California Assembly Bill No. 85, which suspends California net operating loss deductions for tax years in 2020 through 2022, to materially impact its financial statements.
Net Loss Per Share	Net Loss Per ShareBasic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period including contingently issuable shares. Diluted earnings per share includes the effect from potential issuance of ordinary shares, such as shares issuable pursuant to the exercise of stock options, the vesting of restricted stock units and the conversion of the Daewoong Convertible Note. The dilutive effect of stock options and restricted stock units is computed under the treasury stock method. The dilutive effect of the Daewoong Convertible Note is computed under the if-converted method. Potentially dilutive securities are excluded from the computations of diluted net loss per share if their effect would be antidilutive.
Recent Accounting Pronouncements Issued But Not Adopted	Recently Adopted Accounting Pronouncements In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract . ASU 2018-15 requires implementation costs incurred by customers in cloud computing arrangements (i.e., hosting arrangements) to be capitalized under the same premises of authoritative guidance for internal-use software, and deferred over the noncancelable term of the cloud computing arrangements plus any option renewal periods that are reasonably certain to be exercised by the customer or for which the exercise is controlled by the service provider. The guidance is effective for interim and annual reporting periods during the year ending December 31, 2020. Early adoption is permitted. The Company adopted the guidance using the prospective method on January 1, 2020, and such adoption did not have a material impact on its financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework — Changes to the Disclosure Requirements for Fair Value Measurement. The update is part of the disclosure framework project and eliminates certain disclosure requirements for fair value measurements, requires entities to disclose new information, and modifies existing disclosure requirements. Under the new guidance, entities will no longer be required to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, or valuation processes for Level 3 fair value measurements. However, public companies will be required to disclose the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and related changes in unrealized gains and losses included in other comprehensive income. The guidance is effective for interim and annual reporting periods during the year ending December 31, 2020. Early adoption is permitted. The Company adopted the guidance in the current interim period, and such adoption is reflected in Note 3 . Fair Value Measurements and Short-Term Investments Recent Accounting Pronouncements Issued But Not Adopted In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848). ASU 2020-04 provides optional expedients and exceptions that are intended to ease the burden of updating contracts to contain a new reference rate due to the discontinuation of the London Inter-Bank Offered Rate (“LIBOR”). The guidance is effective March 12, 2020 through December 31, 2022, with the adoption date being dependent upon the Company’s election. The Company is currently evaluating the impact of adopting this guidance. In January 2017, the FASB issued ASU No. 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . The update simplifies the accounting for goodwill impairment by removing step two of the goodwill impairment test, which requires a hypothetical purchase price allocation. A goodwill impairment will be the amount by which a reporting unit’s carrying amount, including goodwill, exceeds its fair value. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. As amended by ASU 2019-10, the updated guidance is effective for the Company as a smaller reporting company beginning January 1, 2023. The standard requires prospective application. Early adoption is permitted. The Company is evaluating the effect of this standard on its financial statements and related disclosures as well as whether to early adopt the new guidance. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which modifies the measurement and recognition of credit losses for most financial assets and certain other instruments. The new standard requires the use of forward-looking expected credit loss models based on historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount, which may result in earlier recognition of credit losses under the new standard. The new guidance also modifies the impairment models for available-for-sale debt securities and for purchased financial assets with credit deterioration since their origination. Subsequent to the issuance of ASU 2016-13, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses . This ASU does not change the core principle of the guidance in ASU 2016-13, instead these amendments are intended to clarify and improve operability of certain topics included within the credit losses standard. The FASB also subsequently issued ASU 2019-04 which did not change the core principle of the guidance in ASU 2016-13 but clarified that expected recoveries of amounts previously written off and expected to be written off should be included in the valuation account and should not exceed amounts previously written off and expected to be written off. As amended by ASU 2019-10, the updated guidance is effective for the Company as a smaller reporting company beginning January 1, 2023. The Company is in the process of determining the effects the adoption will have on its financial statements and reviewing credit loss models to assess the impact of the adoption of the standard on the financial statements. Based on initial assessments, the Company believes that while adoption will modify the way it analyzes financial instruments, it does not expect adoption of this guidance will have a material impact to its financial statements. Other recent accounting pronouncements issued by the FASB (including its Emerging Issues Task Force), the American Institute of Certified Public Accountants, and the SEC did not, or are not believed by management to, have a material impact on the Company’s present or future financial position, results of operations or cash flows.

Fair Value Measurements and S_2

Fair Value Measurements and Short-Term Investments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Debt Securities, Available-for-sale	The following is a summary of the Company’s short-term investments, considered available-for-sale: As of September 30, 2020 Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value Available-for-sale securities U.S. treasury securities $ 24,993 $ 3 $ — $ 24,996 As of December 31, 2019 Amortized Gross Unrealized Estimated Cost Gains Losses Fair Value Available-for-sale securities U.S. treasury securities $ 19,905 $ 6 $ — $ 19,911
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The fair value of these instruments was as follows: As of September 30, 2020 Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. treasury securities $ 24,996 $ 24,996 $ — $ — Liabilities Contingent royalty obligation payable to Evolus Founders $ 33,630 $ — $ — $ 33,630 As of December 31, 2019 Fair Value Level 1 Level 2 Level 3 Available-for-sale debt securities U.S. treasury securities $ 19,911 $ 19,911 $ — $ — Liabilities Contingent royalty obligation payable to Evolus Founders $ 44,683 $ — $ — $ 44,683
Schedule of Financial Instruments Recorded at Fair Value on a Recurring Basis	The following table shows a reconciliation of the beginning and ending fair value measurements of the contingent royalty obligation payable: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fair value, beginning of period $ 36,334 $ 47,169 $ 44,683 $ 50,200 Payments (233) (69) (1,131) (9,282) Change in fair value recorded in operating expenses (2,471) 1,795 (9,922) 7,977 Fair value, end of period $ 33,630 $ 48,895 $ 33,630 $ 48,895

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The table below shows the weighted-average life, original cost, accumulated amortization and net book value by major intangible asset classification: Weighted-Average Life (Years) Original Cost Accumulated Amortization Net Book Value Definite-lived intangible assets Distribution right 20 $ 59,076 $ (4,895) $ 54,181 Capitalized software 2 6,380 (3,770) 2,610 Intangible assets, net 65,456 (8,665) 56,791 Indefinite-lived intangible asset Goodwill * 21,208 — 21,208 Total as of September 30, 2020 $ 86,664 $ (8,665) $ 77,999 Weighted-Average Life (Years) Original Cost Accumulated Amortization Net Book Value Indefinite-lived intangible assets Distribution right 20 $ 59,076 $ (2,679) $ 56,397 Capitalized software 2 4,415 (1,174) 3,241 Intangible assets, net 63,491 (3,853) 59,638 Indefinite-lived intangible asset Goodwill * 21,208 — 21,208 Total as of December 31, 2019 $ 84,699 $ (3,853) $ 80,846 ________________________ * Intangible assets with indefinite lives have an indeterminable average life.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table outlines the estimated future amortization expense related to intangible assets held as of September 30, 2020 that are subject to amortization: Fiscal year Remaining in 2020 $ 1,706 2021 4,481 2022 3,073 2023 2,955 2024 2,955 Thereafter 41,621 $ 56,791

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Expenses	Accrued expenses consisted of: September 30, December 31, 2020 2019 Accrued payroll and related benefits $ 2,868 $ 5,229 Accrued professional services 991 5,794 Accrued revenue contract liabilities 2,371 1,709 Other accrued expenses 195 1,228 $ 6,425 $ 13,960

Oxford Term Loan (Tables)

Oxford Term Loan (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	As of September 30, 2020, the principal amounts of long-term debt maturities of the Oxford Term Loan during each of the next five fiscal years are as follows: Fiscal year Remainder of 2020 $ — 2021 — 2022 26,087 2023 39,130 2024 9,783 Total principal payments 75,000 Unamortized debt discounts and issuance costs (1,026) Long term debt, net of discounts and issuance costs $ 73,974

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Lease, Cost	For the three and nine months ended September 30, 2020, the components of operating lease expense: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fixed operating lease expense $ 266 $ 297 $ 813 $ 798 Variable operating lease expense 5 31 32 92 Short-term operating lease expense — 24 168 73 $ 271 $ 352 $ 1,013 $ 963
Lessee, Operating Lease, Liability, Maturity	The following table presents the maturity of the Company’s operating lease liabilities as of September 30, 2020, future minimum payments under the operating lease agreements with non-cancelable terms as follows: Fiscal year Remainder of 2020 $ 291 2021 1,210 2022 1,262 2023 1,317 2024 1,374 Thereafter 115 Total operating lease payments 5,569 Less: imputed interest (1,032) Present value of operating lease liabilities $ 4,537

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The weighted-averages assumptions used in determining the fair value of stock options granted were as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Volatility 70.3 % 59.7 % 60.0 % 59.3 % Risk-free interest rate 0.38 % 2.40 % 1.53 % 2.57 % Expected life (years) 6.25 6.25 6.24 6.18 Dividend yield rate — % — % — % — %
Share-based Compensation, Stock Options, Activity	A summary of stock option activity under the Plan for the nine months ended September 30, 2020, is presented below: Weighted Weighted Average Average Remaining Aggregate Stock Exercise Contractual Intrinsic Options Per Share Terms (Years) Value Outstanding, December 31, 2019 3,977,401 $ 14.07 8.51 $ 7,198 Granted 1,162,244 9.68 Exercised — — Canceled/forfeited (764,720) 15.90 Outstanding, September 30, 2020 4,374,925 $ 12.59 8.00 $ 29 Exercisable, September 30, 2020 1,694,972 $ 12.58 7.44 $ —
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	A summary of RSU activity under the Plan for the nine months ended September 30, 2020, is presented below: Weighted Average Grant Date Restricted Fair Value Stock Units Per Share Outstanding, December 31, 2019 229,870 $ 15.89 Granted 1,153,574 6.18 Vested (186,870) 13.60 Forfeited (86,207) 8.44 Outstanding, September 30, 2020 1,110,367 $ 6.76
Schedule of Stock-based Compensation Expense Allocation	The following table summarizes stock-based compensation expense arising from the above Plan: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Selling, general and administrative $ 2,924 $ 2,417 $ 7,802 $ 6,443 Research and development 28 109 152 538 $ 2,952 $ 2,526 $ 7,954 $ 6,981

Description of Business (Detail

Description of Business (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 11,459	$ 21,125	$ 19,735	$ 26,984	$ 37,567	$ 10,975	$ 52,319	$ 75,526
Net cash used in operating activities							55,605	$ 77,461
Cash and cash equivalents	85,127						85,127		$ 109,892
Short-term investments	24,996						24,996		19,911
Long-term debt	132,956						132,956
Accumulated deficit	$ 265,378						$ 265,378		$ 213,059

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details)	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2020position	Feb. 28, 2019USD ($)	Sep. 30, 2020USD ($)shares	Sep. 30, 2019USD ($)shares	Sep. 30, 2020USD ($)unitshares	Sep. 30, 2019USD ($)shares	Dec. 31, 2019USD ($)
Accounting Policies [Line Items]
Number of reporting units | unit					1
Impairment of goodwill					$ 0	$ 0
Impairment of intangible assets					0	0
Revenue			$ 17,661,000	$ 13,167,000	35,963,000	15,478,000
Accrued revenue contract liabilities			2,371,000		2,371,000		$ 1,709,000
Contract with customer, receivable, credit loss expense			2,378,000	5,740,000	12,607,000	6,671,000
Payments for Provisions for accrued volume-based rebate, coupon and consumer loyalty program liability			806,000	2,739,000	11,945,000	2,739,000
Allowance for doubtful accounts			2,656,000		2,656,000		$ 387,000
Credit loss expense (reversal)			168,000	0	2,439,000	0
Accounts receivable, writeoff			0	0	171,000	0
Number of positions eliminated | position	100
Restructuring costs			0	0	2,956,000	0
Income tax expense (benefit)			(27,000)	(149,000)	227,000	(14,899,000)
Valuation allowance increase (decrease) recorded against gross deferred tax asset		$ (14,402,000)
Service revenue
Accounting Policies [Line Items]
Revenue			738,000	0	738,000	0
Service revenue | CANADA
Accounting Policies [Line Items]
Revenue			$ 738,000	$ 0	$ 738,000	$ 0
Common stock options
Accounting Policies [Line Items]
Securities excluded from the computation of diluted net loss per share (in shares) | shares			4,374,925	3,867,254	4,374,925	3,867,254
Restricted stock units
Accounting Policies [Line Items]
Securities excluded from the computation of diluted net loss per share (in shares) | shares			1,110,367	256,870	1,110,367	256,870
Convertible Debt Securities
Accounting Policies [Line Items]
Securities excluded from the computation of diluted net loss per share (in shares) | shares			3,076,923	0	3,076,923	0
Distribution right
Accounting Policies [Line Items]
Useful life					20 years		20 years
Internal-use software
Accounting Policies [Line Items]
Useful life					2 years

Fair Value Measurements and S_3

Fair Value Measurements and Short-Term Investments - Schedule of Short-term Investments (Details) - U.S. treasury securities - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	$ 24,993	$ 19,905
Gross Unrealized
Gains	3	6
Losses	0	0
Estimated Fair Value	$ 24,996	$ 19,911

Fair Value Measurements and S_4

Fair Value Measurements and Short-Term Investments - Assets and Liabilities on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
U.S. treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	$ 24,996	$ 19,911
U.S. treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	24,996	19,911
U.S. treasury securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	0	0
U.S. treasury securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	0	0
Contingent royalty obligation payable to Evolus Founders
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent royalty obligation payable to Evolus Founders	33,630	44,683
Contingent royalty obligation payable to Evolus Founders | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent royalty obligation payable to Evolus Founders	0	0
Contingent royalty obligation payable to Evolus Founders | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent royalty obligation payable to Evolus Founders	0	0
Contingent royalty obligation payable to Evolus Founders | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent royalty obligation payable to Evolus Founders	$ 33,630	$ 44,683

Fair Value Measurements and S_5

Fair Value Measurements and Short-Term Investments - Narrative (Details) $ in Thousands	Sep. 30, 2020USD ($)year	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent royalty obligation payable to Evolus Founders	$ 33,630	$ 36,334	$ 44,683	$ 48,895	$ 47,169	$ 50,200
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent promissory note payable	18,656
Contingent royalty obligation payable to Evolus Founders			16,696
Oxford Term Loans | Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent promissory note payable	$ 75,011
Contingent royalty obligation payable to Evolus Founders			$ 76,203
Contingent Royalty Obligation | Measurement Input, Expected Term
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input | year	10
Contingent Royalty Obligation | Measurement Input, Discount Rate | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.160			0.160
Contingent Royalty Obligation | Measurement Input, Discount Rate | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input	0.200			0.200

Fair Value Measurements and S_6

Fair Value Measurements and Short-Term Investments - Contingent Royalty Obligation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 36,334	$ 47,169	$ 44,683	$ 50,200
Payments	(233)	(69)	(1,131)	(9,282)
Change in fair value recorded in operating expenses	(2,471)	1,795	(9,922)	7,977
Ending balance	$ 33,630	$ 48,895	$ 33,630	$ 48,895

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Definite and Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Definite-lived intangible assets
Original Cost	$ 65,456	$ 63,491
Accumulated Amortization	(8,665)	(3,853)
Net Book Value	56,791	59,638
Indefinite-lived intangible asset
Goodwill	21,208	21,208
Intangible assets, gross (including goodwill)	86,664	84,699
Total net book value	$ 77,999	$ 80,846
Distribution right
Definite-lived intangible assets
Useful life	20 years	20 years
Original Cost	$ 59,076	$ 59,076
Accumulated Amortization	(4,895)	(2,679)
Net Book Value	$ 54,181	$ 56,397
Capitalized software
Definite-lived intangible assets
Useful life	2 years	2 years
Original Cost	$ 6,380	$ 4,415
Accumulated Amortization	(3,770)	(1,174)
Net Book Value	$ 2,610	$ 3,241

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining in 2020	$ 1,706
2021	4,481
2022	3,073
2023	2,955
2024	2,955
Thereafter	41,621
Net Book Value	$ 56,791	$ 59,638

Goodwill and Intangible Asset -

Goodwill and Intangible Asset - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized computer software	$ 432	$ 761	$ 1,966	$ 3,303
Amortization expense	$ 1,664	$ 1,115	$ 4,813	$ 2,522

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accrued payroll and related benefits	$ 2,868	$ 5,229
Accrued professional services	991	5,794
Accrued revenue contract liabilities	2,371	1,709
Other accrued expenses	195	1,228
Accounts payable and accrued liabilities, current	$ 6,425	$ 13,960

Oxford Term Loan - Narrative (D

Oxford Term Loan - Narrative (Details) - USD ($)	Mar. 15, 2019	Sep. 30, 2020
Term Loan Facility
Debt Instrument [Line Items]
Percentage of final payment of full principal amount	5.50%
Prepayment fee percentage, year two	2.00%
Prepayment fee percentage, thereafter	1.00%
Debt discount		$ 1,094,000
Debt issuance costs		$ 2,205,000
Effective percentage		11.60%
Term Loan Facility | Applicable Rate
Debt Instrument [Line Items]
Default interest rate	5.00%
Secured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000
Interest rate on debt	9.50%
Period of interest only payments	36 months
Amortization period	23 months
Secured Debt | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	7.00%
Secured Debt | Term Loan Facility, Tranche One
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 75,000,000
Secured Debt | Oxford Term Loan Facility, Tranche Two
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 25,000,000

Oxford Term Loan - Maturities o

Oxford Term Loan - Maturities of Debt (Details) $ in Thousands	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Long term debt, net of discounts and issuance costs	$ 132,956
Term Loan
Debt Instrument [Line Items]
Remainder of 2020	0
2021	0
2022	26,087
2023	39,130
2024	9,783
Total principal payments	75,000
Unamortized debt discounts and issuance costs	(1,026)
Long term debt, net of discounts and issuance costs	$ 73,974

Daewoong Convertible Note (Deta

Daewoong Convertible Note (Details) - Daewoong Convertible Note - Convertible Debt	Jul. 06, 2020USD ($)business_day$ / shares	Sep. 30, 2020shares
Short-term Debt [Line Items]
Debt instrument, face amount | $	$ 40,000,000
Interest rate on debt	3.00%
Convertible option term	12 months
Conversion price (in dollars per share) | $ / shares	$ 13
Commencement period of debt repayment	27 months
Number of business days required to avoid penalty | business_day	10
Number of days of notice to increase percentage of shares beneficially owned	61 days
Minimum
Short-term Debt [Line Items]
Common stock shares beneficially own percentage	0.0499
Maximum
Short-term Debt [Line Items]
Common stock shares beneficially own percentage	0.0999
Common Stock
Short-term Debt [Line Items]
Conversion of common shares (in shares) | shares		3,076,923

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($)	Mar. 15, 2019	Sep. 30, 2020	Jul. 06, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Termination period		36 months
Period of written notice		12 months
Period of termination fee prior to lease termination date		6 months
Renewal term		60 months
Weighted-average remaining lease term		4 years 3 months 18 days
Weighted-average discount rate		9.40%
Purchase obligation		$ 5,744,000
Loss contingency accrual		0		$ 0
Daewoong Convertible Note | Convertible Debt
Loss Contingencies [Line Items]
Debt instrument, face amount			$ 40,000,000
Term Loan Facility | Applicable Rate
Loss Contingencies [Line Items]
Default interest rate	5.00%
Daewoong
Loss Contingencies [Line Items]
Milestone payment in connection with license and supply agreement		$ 10,500,000

Commitments and Contingencies_2

Commitments and Contingencies - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Fixed operating lease expense	$ 266	$ 297	$ 813	$ 798
Variable operating lease expense	5	31	32	92
Short-term operating lease expense	0	24	168	73
Lease, cost	$ 271	$ 352	$ 1,013	$ 963

Commitments and Contingencies_3

Commitments and Contingencies - Operating Lease Maturity (Details) $ in Thousands	Sep. 30, 2020USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of 2020	$ 291
2021	1,210
2022	1,262
2023	1,317
2024	1,374
Thereafter	115
Total operating lease payments	5,569
Less: imputed interest	(1,032)
Present value of operating lease liabilities	$ 4,537

Stockholder's Equity - Narrativ

Stockholder's Equity - Narrative (Details) - $ / shares	Nov. 21, 2017	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		10,000,000	10,000,000
Preferred stock, par value (in dollars per share)		$ 0.00001	$ 0.00001
Preferred stock, shares issued (in shares)		0	0
Preferred stock, shares outstanding (in shares)		0	0
Common stock, shares authorized (in shares)		100,000,000	100,000,000
Common stock, par value (in dollars per share)		$ 0.00001	$ 0.00001
Common stock, shares, issued (in shares)		33,749,228	33,562,665
Common stock, shares, outstanding (in shares)		33,749,228	33,562,665
Maximum number of shares authorized under the plan (in shares)	4,361,291
Annual increase percentage of maximum shares outstanding (equal to)	4.00%
Capital shares reserved for future issuance (in shares)		795,531
Contractual term		10 years
Minimum
Class of Stock [Line Items]
Award vesting period		1 year
Maximum
Class of Stock [Line Items]
Award vesting period		4 years

Stockholders_ Equity - Schedule

Stockholders’ Equity - Schedule of Valuation Assumptions (Details) - Common stock options	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Class of Stock [Line Items]
Volatility	70.30%	59.70%	60.00%	59.30%
Risk-free interest rate	0.38%	2.40%	1.53%	2.57%
Expected life (years)	6 years 3 months	6 years 3 months	6 years 2 months 26 days	6 years 2 months 4 days
Dividend yield rate	0.00%	0.00%	0.00%	0.00%

Stockholders_ Equity - Schedu_2

Stockholders’ Equity - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Weighted Average Contractual Term
Contractual term	10 years
Common stock options
Stock Options
Beginning balance (in shares)	3,977,401
Granted (in shares)	1,162,244
Exercised (in shares)	0
Cancelled/forfeited (in shares)	(764,720)
Ending balance (in shares)	4,374,925	3,977,401
Exercisable (in shares)	1,694,972
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 14.07
Granted (in dollars per share)	9.68
Exercised (in dollars per share)	0
Cancelled/forfeited (in dollars per share)	15.90
Ending balance (in dollars per share)	12.59	$ 14.07
Exercisable (in dollars per share)	$ 12.58
Weighted Average Contractual Term
Contractual term	8 years	8 years 6 months 3 days
Exercisable	7 years 5 months 8 days
Aggregate Intrinsic Value
Beginning balance	$ 7,198
Ending balance	29	$ 7,198
Exercisable	$ 0

Stockholders_ Equity - Restrict

Stockholders’ Equity - Restricted Stock Unit (Details) - Restricted stock units	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Restricted Stock Unit
Beginning balance (in shares) | shares	229,870
Granted (in shares) | shares	1,153,574
Vested (in shares) | shares	(186,870)
Forfeited (in shares) | shares	(86,207)
Ending balance (in shares) | shares	1,110,367
Weighted Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share) | $ / shares	$ 15.89
Granted (in dollars per share) | $ / shares	6.18
Vested (in dollars per share) | $ / shares	13.60
Forfeited (in dollars per share) | $ / shares	8.44
Ending balance (in dollars per share) | $ / shares	$ 6.76

Stockholder's Equity - Stock-ba

Stockholder's Equity - Stock-based Compensation Expense Allocation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated stock-based compensation expense	$ 2,952	$ 2,526	$ 7,954	$ 6,981
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated stock-based compensation expense	2,924	2,417	7,802	6,443
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Allocated stock-based compensation expense	$ 28	$ 109	$ 152	$ 538

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Dec. 14, 2017	Nov. 30, 2017	Jan. 31, 2018	Sep. 30, 2020	Dec. 31, 2019
Evolus, Inc.
Related Party Transaction [Line Items]
Due to related parties	$ 1,575,000
Percentage of voting interests acquired	50.00%
ALPHAEON
Related Party Transaction [Line Items]
Period available to cure breach	30 days
Unwinding fee		$ 9,550,000
SCH | Evolus, Inc.
Related Party Transaction [Line Items]
Up-front payment upon obtaining FDA approval	$ 9,200,000
Related party transaction amount in period	$ 20,000,000
Period of termination of first commercial sale	10 years
Majority Shareholder | ALPHAEON
Related Party Transaction [Line Items]
Term of agreement			1 year
Renewal period option			1 year
Period to notify termination			60 days
Due from related parties, current				$ 0	$ 0
Chief Medical Officer | Evolus, Inc.
Related Party Transaction [Line Items]
Due to related parties	$ 700,000