Pulmatrix (PULM) 10-Q 15 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 14, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	Pulmatrix, Inc.
Entity Central Index Key	0001574235
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	PULM
Entity Common Stock, Shares Outstanding		18,289,616
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	true

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 2,146	$ 2,563
Prepaid expenses and other current assets	1,236	717
Total current assets	3,382	3,280
Property and equipment, net	354	394
Long-term restricted cash	204	204
Goodwill	10,051	10,845
Total assets	13,991	14,723
Current liabilities:
Accounts payable	1,611	1,183
Accrued expenses	2,184	1,696
Total current liabilities	3,795	2,879
Commitments (Note 11)
Stockholders' Equity:
Preferred stock, $0.0001 par value — 500,000 authorized and 0 issued and outstanding at March 31, 2019 and December 31, 2018
Common stock, $0.0001 par value — 200,000,000 shares authorized; 8,027,895 and 4,932,723 shares issued and outstanding at March 31, 2019 and December 31, 2018, respectively.	1
Additional paid-in capital	209,916	206,409
Accumulated deficit	(199,721)	(194,565)
Total stockholders' equity	10,196	11,844
Total liabilities and stockholders' equity	$ 13,991	$ 14,723

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	500,000	500,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	8,027,895	4,932,723
Common stock, shares outstanding	8,027,895	4,932,723

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenues		$ 153
Operating expenses
Research and development	$ 2,176	3,221
General and administrative	1,987	2,046
Impairment of goodwill	794
Total operating expenses	4,957	5,267
Loss from operations	(4,957)	(5,114)
Other income (expense)
Interest expense		(106)
Settlement expense	(200)
Other income (expense), net	1	(1)
Net loss	$ (5,156)	$ (5,221)
Net loss per share, basic and diluted	$ (0.74)	$ (2.39)
Weighted average shares used to compute basic and diluted net loss per share	6,944,513	2,187,699

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated deficit [Member]
Beginning balance at Dec. 31, 2017	$ 10,137		$ 184,139	$ (174,002)
Beginning balance, shares at Dec. 31, 2017		2,104,750
Issuance of common stock, net of issuance costs	1,847		1,847
Issuance of common stock, net of issuance costs, shares		123,266
Stock-based compensation	765		765
Net loss	(5,221)			(5,221)
Ending balance at Mar. 31, 2018	7,528		186,751	(179,223)
Ending balance, shares at Mar. 31, 2018		2,228,016
Beginning balance at Dec. 31, 2018	11,844		206,409	(194,565)
Beginning balance, shares at Dec. 31, 2018		4,932,723
Adjustment for reverse stock split, shares		2,717
Issuance of common stock, net of issuance costs	2,979	$ 1	2,978
Issuance of common stock, net of issuance costs, shares		2,394,955
Exercise of pre-funded warrants	70		70
Exercise of pre-funded warrants, shares		697,500
Stock-based compensation	459		459
Net loss	(5,156)			(5,156)
Ending balance at Mar. 31, 2019	$ 10,196	$ 1	$ 209,916	$ (199,721)
Ending balance, shares at Mar. 31, 2019		8,027,895

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (5,156)	$ (5,221)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	50	60
Stock-based compensation	459	765
Impairment of goodwill	794
Deferred rent	(6)
Non-cash interest expense		31
Non-cash debt issuance expense		2
Changes in operating assets and liabilities:
Accounts Receivable		(153)
Prepaid expenses and other current assets	(519)	350
Accounts payable	428	735
Accrued expenses	494	306
Net cash used in operating activities	(3,456)	(3,125)
Cash flows from investing activities:
Purchases of property and equipment	(10)
Net cash used in investing activities	(10)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs	2,979	1,847
Proceeds from exercise of pre-funded warrants	70
Term loan principal payments		(719)
Net cash provided by financing activities	3,049	1,128
Net decrease in cash	(417)	(1,997)
Cash, cash equivalents and restricted cash — beginning of period	2,767	3,754
Cash, cash equivalents and restricted cash — end of period	$ 2,350	$ 1,757

Organization

Organization	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization Pulmatrix, Inc. (the “Company”) was incorporated in 2013 as a Nevada corporation and converted to a Delaware corporation in September 2013. On June 15, 2015, the Company completed a merger with Pulmatrix Operating Company, changed its name from Ruthigen, Inc. to “Pulmatrix, Inc.” and relocated its corporate headquarters to Lexington, Massachusetts. Pulmatrix, Inc. is a clinical stage biotechnology company focused on the discovery and development of a novel class of inhaled therapeutic products. The Company’s proprietary dry powder delivery platform, iSPERSE™ (inhaled Small Particles Easily Respirable and Emitted), is engineered to deliver small, dense particles with highly efficient dispersibility and delivery to the airways, which can be used with an array of dry powder inhaler technologies and can be formulated with a variety of drug substances. The Company is developing a pipeline of iSPERSE-based therapeutic candidates targeted at prevention and treatment of a range of respiratory diseases and infections with significant unmet medical needs. On February 5, 2019, the Company effectuated a 1-for-10 10 Liquidity At March 31, 2019, the Company had unrestricted cash of $2,146 and a working deficit of $413. The Company had incurred recurring losses and as of March 31, 2019 had an accumulated deficit of $199,721. During the three months ended March 31, 2019, the Company had used approximately $3,456 in its operating activities. The Company has primarily financed operations to date through the sale of equity securities and a term loan which was paid in its entirety as of June 30, 2018. These factors raised substantial doubt as to the Company’s ability to continue as a going concern. During the three months ended March 31, 2019, the Company raised an aggregate of $3,049 in net proceeds through the sale of its common stock (note 6). Subsequent to March 31, 2019, the Company further raised an aggregate of $16,560 in gross proceeds through the sale of its common stock. Included in the financing are $89 of pre-funded warrants available to be exercised for shares of the Company’s common stock (note 12). On April 15, 2019, the Company entered into a material definitive agreement with Cipla Technologies, LLP and $22,000 was received pursuant to the terms of the agreement (note 12). As a result of the subsequent raise and execution of agreement with Cipla Technologies, LLP, management believes that substantial doubt of the Company’s ability to meet its obligations for the twelve months following the date these financial statements are issued has been alleviated. Management believes that the Company’s present and available financial resources will be sufficient to meet its obligations and fund its ongoing operations at least through the next twelve months from the date these financial statements are issued.

Summary of Significant Accounti

Summary of Significant Accounting Policies and Recent Accounting Standards	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies and Recent Accounting Standards	2. Summary of Significant Accounting Policies and Recent Accounting Standards Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared on a going concern basis in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting and as required by Regulation S-X, Rule 10-01. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (including those which are normal and recurring) considered necessary for a fair presentation of the interim financial information have been included. When preparing financial statements in conformity with GAAP, the Company must make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the date of the financial statements. Actual results could differ from those estimates. Additionally, operating results for the three months ended March 31, 2019, are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2019. For further information, refer to the financial statements and footnotes included in the Company’s annual financial statements for the fiscal year ended December 31, 2018, which are included in the Company’s annual report on Form 10-K filed with the SEC on February 19, 2019. Use of Estimates In preparing consolidated financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of expenses during the reporting period. Due to inherent uncertainty involved in making estimates, actual results may differ from these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions. These estimates and assumptions include valuing equity securities in share-based Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents consists of cash, checking accounts and money market accounts. Restricted cash consists of cash deposited with a financial institution for $204. The following table provides a reconciliation of cash, cash equivalents and restricted cash as reported in the condensed consolidated balance sheets that sum to the total of the same amounts in the statement of cash flows. Three Months Ended 2019 2018 Cash and cash equivalents $ 2,146 $ 1,553 Restricted Cash 204 204 Total cash, cash equivalents and restricted cash in the statement of cash flows $ 2,350 $ 1,757 Significant Accounting Policies In the three months ended March 31, 2019, there were no changes to the Company’s significant accounting policies identified in the Company’s most recent annual financial statements for the fiscal year ended December 31, 2018, which are included in the Company’s current report on Form 10-K. Recent Accounting Standards In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. ASU 2018-13 modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The amendments in ASU 2018-13 will be effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. An entity is permitted to early adopt any removed or modified disclosures upon issuance of ASU No. 2018-13 and delay adoption of the additional disclosures until their effective date. The Company has not yet evaluated the impact of adoption of this ASU on its condensed consolidated financial statements disclosures. In June 2018, the FASB issued ASU No. 2018-07, Compensation — Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In February 2018, the FASB issued ASU No. 2018-02, “Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” In July 2017, FASB issued ASU No. 2017-11, Earnings per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815). ASU 2017-11 consists of two parts. The amendments in Part I of this Update change the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. The amendments also clarify existing disclosure requirements for equity-classified instruments. As a result, a freestanding equity-linked financial instrument (or embedded conversion option) no longer would be accounted for as a derivative liability at fair value as a result of the existence of a down round feature. For freestanding equity classified financial instruments, the amendments require entities that present earnings per share (EPS) in accordance with Topic 260 to recognize the effect of the down round feature when it is triggered. That effect is treated as a dividend and as a reduction of income available to common shareholders in basic EPS. Convertible instruments with embedded conversion options that have down round features are now subject to the specialized guidance for contingent beneficial conversion features (in Subtopic 470-20, Debt—Debt with Conversion and Other Options), including related EPS guidance (in Topic 260). The amendments in Part II of this Update re-characterize the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the Codification, to a scope exception. Those amendments do not have an accounting effect. For public business entities, the amendments in Part I of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The amendments in Part II of this Update do not require any transition guidance because those amendments do not have an accounting effect. The Company has adopted ASU 2017-11 and adoption of this ASU has no significant impact on its condensed consolidated financial statements. In February 2016 , the FASB issued authoritative guidance under ASU 2016 - 02 , Leases (Topic 842) . ASU 2016 - 02 provides new comprehensive lease accounting guidance that supersedes existing lease guidance. Upon adoption of ASU 2016 - 02 , the Company will be required to recognize most leases on its balance sheet at the beginning of the earliest comparative period presented with a corresponding adjustment to stockholders’ equity. ASU 2016 - 02 requires the Company to capitalize most current operating lease obligations as right-of-use assets with a corresponding liability based on the present value of future operating lease obligations. Criteria for distinguishing leases between finance and operating are substantially similar to criteria for distinguishing between capital leases and operating leases in previous lease guidance. Lease agreements that are 12 months or less are permitted to be excluded from the balance sheet. Topic 842 includes a number of optional practical expedients that the Company may elect to apply. Expanded disclosures with additional qualitative and quantitative information will also be required. The adoption will include updates as provided under ASU 2018 - 01 , Leases (Topic 842) : Land Easement Practical Expedient for Transition to Topic 842 and ASU 2018 - 10 , Codification Improvements to Topic 842 , Leases. Since the Company is an emerging growth company and elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act, this ASU 2016 - 02 and related ASUs will be effective for the Company beginning in fiscal 2020 . The Company is currently evaluating the potential impact of adoption of this standard on its condensed consolidated financial statements and the additional transition method under ASU 2018 - 11 , which allows the Company to recognize Topic 842 ’s cumulative effect within retained earnings in the period of adoption. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09 (Topic 606) “Revenue from Contracts with Customers.” Topic 606 supersedes the revenue recognition requirements in Topic 605 “Revenue Recognition” (Topic 605). The new standard’s core principal is that an entity will recognize revenue at an amount that reflects the consideration to which the entity expects to be entitled in exchange for transferring good or services to a customer. The principles in the standard are applied in five steps: 1) Identify the contract(s) 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 when (or as) the entity satisfies a performance obligation. The Company adopted Topic 606 as of January 1, 2019 using the modified retrospective transition method. The adoption of Topic 606 did not have any material impact on the Company’s condensed consolidated financial statements. Goodwill Goodwill represents the difference between the consideration transferred and the fair value of the net assets acquired, and liabilities assumed under the acquisition method of accounting for push-down accounting. Goodwill is not amortized but is evaluated for impairment within the Company’s single reporting unit on an annual basis during the fourth quarter, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the Company’s reporting unit below its carrying amount. When performing the impairment assessment, the accounting standard for testing goodwill for impairment permits a company to first assess the qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the goodwill is impaired. If the Company believes, as a result of the qualitative assessment, that it is more likely than not that the fair value of goodwill is impaired, the Company then must perform a quantitative analysis to determine if the carrying value of the reporting entity exceeds its fair value. As of March 31, 2019, the Company’s common stock value declined, accordingly, the Company determined that its carrying value is in excess of its fair value and as such, recorded an impairment charge of $794 and revalued goodwill to $10,051.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2019
Text Block [Abstract]
Prepaid Expenses and Other Current Assets	3. Prepaid Expenses and Other Current Assets Prepaid expenses consisted of the following: At March 31, 2019 At December 31, 2018 Prepaid Insurance $ 147 $ 243 Prepaid Clinical Trials 589 419 Prepaid Other 167 27 Deferred Operating Costs 333 28 Total prepaid and other current assets $ 1,236 $ 717

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	4. Property and Equipment, Net Property and equipment consisted of the following: At March 31, 2019 At December 31, 2018 Laboratory equipment $ 1,533 $ 1,529 Computer equipment 191 185 Office furniture and equipment 217 217 Leasehold improvements 579 579 Total property and equipment 2,520 2,510 Less accumulated depreciation and amortization (2,166 ) (2,116 ) Property and equipment, net $ 354 $ 394 Depreciation and amortization expense for the three months ended March 31 , 2019 and 2018 was $ 50 and $ 60 , respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	5. Accrued Expenses and Other Current Liabilities Accrued expenses consisted of the following: At March 31, 2019 At December 31, 2018 Accrued vacation $ 80 $ 59 Accrued wages and incentive 1,134 915 Accrued clinical & consulting 746 517 Accrued legal & patent 92 67 Deferred rent 61 67 Accrued other expenses 71 71 Total accrued expenses $ 2,184 $ 1,696

Common Stock

Common Stock	3 Months Ended
	Mar. 31, 2019
Text Block [Abstract]
Common Stock	6. Common Stock Confidential Marketed Public Offering (“CMPO”) On January 31, 2019 and February 4, 2019, the Company closed two CMPOs, pursuant to which the Company sold 156,118 and 532,353 shares of common stock, respectively, at $1.70 10,151 $2.125 per share January 26, 2024 $1,170. Registered Direct Offering On February 12, 2019, the Company sold 1,706,484 shares at $1.465 per share for gross proceeds of approximately $2,500. In this registered direct offering, the Company issued warrants to purchase 1,706,484 shares of its common stock to investors with an exercise price of $1.34 per share and an expiration date of August 12, 2024 February 7, 2024 Exercise of Warrants During the period ended March 31, 2019, 697,500 pre-funded warrants, which were issued as part of the November 2018 securities purchase agreement with an institutional investor, were exercised and the Company recorded $70 in net proceeds. For the period ending March 31, 2019, after giving effect to fees, commissions and other expenses of approximately $691, the Company recorded net proceeds of $3,049 in aggregate for the sale of the CMPOs, the registered direct offering and the pre-funded warrant exercises. 2018 On March 17, 2017, the Company entered into an At-The-Market Sales Agreement (the “Sales Agreement”) with BTIG, LLC (“BTIG”) to act as the Company’s sales agent with respect to the issuance and sale of up to $11,000 of the Company’s shares of common stock, from time to time in an at-the-market public offering (the “Offering”). Sales of common stock under the Sales Agreement were made pursuant to an effective shelf registration statement on Form S-3, which was filed with the Securities and Exchange Commission on July 15, 2016, and subsequently declared effective on August 3, 2016 (File No. 333-212546), and a related prospectus. BTIG was entitled to compensation at a fixed commission rate of 3.0% of the gross proceeds from the sale of the Company’s common stock pursuant to the Sales Agreement. During the three month period ended March 31, 2018, the Company sold 123,266 shares of its common stock under the Sales Agreement at an average selling price of approximately $15.45 per share which resulted in gross proceeds of approximately $1,904 and net proceeds of approximately $1,847 after payment of 3% commission to BTIG and other issuance costs.

Warrants

Warrants	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Warrants	7. Warrants A rollforward of the common stock warrants outstanding at March 31, 2019 is as follows. Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding January 1, 2019 4,428,444 $ 10.78 $ — Pre-funded warrants exercised (697,500 ) $ (0.01 ) Representative warrants expiration (3,926 ) $ (226.60 ) Adjustment for reverse stock split 16 Warrants issued 1,862,162 $ 1.39 Outstanding March 31, 2019 5,589,196 $ 8.83 4.481 $ — The following represents a summary of the warrants outstanding at each of the dates identified: Number of Shares Underlying Warrants For the Period Ended March 31, Issue Date Classification Exercise Price Expiration Date 2019 2018 February 12, 2019 Equity $ 1.8313 February 7, 2024 110,922 — February 12, 2019 Equity $ 1.34 August 12, 2024 1,706,484 — February 04, 2019 Equity $ 2.125 January 30, 2024 34,605 — January 31, 2019 Equity $ 2.125 January 26, 2024 10,151 — December 3, 2018 Equity $ 3.90 June 3, 2024 937,500 — April 3, 2018 Equity $ 7.50 April 3, 2023 2,350,011 — April 4, 2018 Equity $ 7.50 April 4, 2023 115,000 — August 31, 2015 Equity $ 118.00 August 31, 2020 3,000 3,000 June 15, 2015 Equity $ 75.50 June 15, 2020 319,008 319,008 June 15, 2015 Equity $ 83.50 June 16, 2020 2,515 2,515 Total Outstanding 5,589,196 324,523 All warrants are exercisable for common stock.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	8. Stock-Based Compensation The Company sponsors the Pulmatrix, Inc. 2013 Employee, Director and Consultant Equity Incentive Plan (the “2013 Plan). As of March 31, 2019, the 2013 Plan provides for the grant of up to 1,496,637 shares of common stock, of which 659,100 shares remained available for future grant. In addition, the Company has two legacy plans: The Pulmatrix Operating’s 2013 Employee, Director and Consultant Equity Incentive Plan (the “Original 2013 Plan”) and Pulmatrix Operating’s 2003 Employee, Director, and Consultant Stock Plan (the “2003 Plan”). As of March 31, 2019, a total of 43,768 shares of common stock may be delivered under options outstanding under the Original 2013 Plan and the 2003 Plan, however no additional awards may be granted under the Original 2013 Plan or the 2003 Plan. Options During the three months ended March 31, 2019 and 2018, the Company granted no options to employees, directors or consultants. The following table summarizes stock option activity for the three months ended March 31, 2019: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term ( Years) Aggregate Intrinsic Value Outstanding — January 1, 2019 972,569 $ 23.85 $ — Granted — $ — Exercised — $ — Forfeited or expired (145,581 ) $ 28.81 Outstanding — March 31, 2019 826,988 $ 22.98 8.22 $ — Exercisable — March 31, 2019 490,102 $ 32.57 7.73 $ — Vested and expected to vest — March 31, 2019 818,211 $ 23.15 8.21 $ — As of March 31, 2019, there was $2,195 of unrecognized stock-based compensation expense related to unvested stock options granted under the Company’s stock award plans. This expense is expected to be recognized over a weighted-average period of approximately 1.7 years. The following table presents total stock-based compensation expense for the three months ended March 31, 2019: Three Months Ended March 31, 2019 2018 Research and development $ 49 $ 210 General and administrative 410 555 Total stock based compensation expense $ 459 $ 765

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes The Company has total deferred tax assets of $44,770 50 percent aggregate change in ownership of certain significant stockholders over a three-year period, or a Section 382 ownership change, utilization

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Net Loss Per Share	10. Net Loss Per Share The Company computes basic and diluted net loss per share using a methodology that gives effect to the impact of outstanding participating securities (the “two-class method”). As the three months ended March 31, 2019 and 2018, respectively, resulted in net losses attributable to common shareholders, there is no income allocation required under the two-class method or dilution attributed to weighted average shares outstanding in the calculation of diluted net loss per share. The following potentially dilutive securities outstanding prior to the use of the treasury stock method have been excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive. As of March 31, 2019 2018 Options to purchase common stock 826,988 369,335 Warrants to purchase common stock 5,589,196 328,444 Settlement of term loan — 8,526 Total 6,416,184 706,305

Commitments

Commitments	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments	11. Commitments Future minimum lease payments under the non-cancelable operating lease for office and lab space is as follows: Amount 2019 507 2020 698 Total $ 1,205

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent Events On April 8, 2019, the Company closed on a public offering, pursuant to which it sold 3,319,553 shares of its common stock at $1.35 8,947,112 $1.34 797,334 s $1.6875 per share. Subsequent to March 31, 2019, 6,942,168 pre-funded warrants were exercised, and the Company recorded $69 as additional paid in capital. On April 15, 2019, the Company, entered into a Development and Commercialization Agreement with Cipla Technologies LLC for the co-development and commercialization, on a worldwide exclusive basis, of Pulmazole, the Company’s inhaled iSPERSE drug delivery system enabled formulation of the antifungal drug, itraconazole, for the treatment of all pulmonary indications, including allergic bronchopulmonary aspergillosis in patients with asthma. Pursuant to the Agreement, Cipla made an initial upfront payment of $22 million to the Company in exchange for an irrevocable assignment of all existing and future technologies, current and future drug master files, dossiers, third-party contracts, regulatory filings, regulatory materials and regulatory approvals, patents, and intellectual property rights, as well as any other associated rights and assets with respect to Pulmazole, specifically in relation to pulmonary indications. Under the Agreement, the Company will be primarily responsible for the development of Pulmazole and Cipla will primarily be responsible for the commercialization of Pulmazole. Once the development costs exceed $24 million, the Company and Cipla will each bear 50% of any costs incurred with respect to the development, regulatory and commercialization costs of Pulmazole. The parties will share equally the total free cash flow in relation to commercialization of Pulmazole.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies and Recent Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared on a going concern basis in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting and as required by Regulation S-X, Rule 10-01. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (including those which are normal and recurring) considered necessary for a fair presentation of the interim financial information have been included. When preparing financial statements in conformity with GAAP, the Company must make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures at the date of the financial statements. Actual results could differ from those estimates. Additionally, operating results for the three months ended March 31, 2019, are not necessarily indicative of the results that may be expected for any other interim period or for the fiscal year ending December 31, 2019. For further information, refer to the financial statements and footnotes included in the Company’s annual financial statements for the fiscal year ended December 31, 2018, which are included in the Company’s annual report on Form 10-K filed with the SEC on February 19, 2019.
Use of Estimates	Use of Estimates In preparing consolidated financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of expenses during the reporting period. Due to inherent uncertainty involved in making estimates, actual results may differ from these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions. These estimates and assumptions include valuing equity securities in share-based
Cash and Cash Equivalents	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents consists of cash, checking accounts and money market accounts. Restricted cash consists of cash deposited with a financial institution for $204. The following table provides a reconciliation of cash, cash equivalents and restricted cash as reported in the condensed consolidated balance sheets that sum to the total of the same amounts in the statement of cash flows. Three Months Ended 2019 2018 Cash and cash equivalents $ 2,146 $ 1,553 Restricted Cash 204 204 Total cash, cash equivalents and restricted cash in the statement of cash flows $ 2,350 $ 1,757
Significant Accounting Policies	Significant Accounting Policies In the three months ended March 31, 2019, there were no changes to the Company’s significant accounting policies identified in the Company’s most recent annual financial statements for the fiscal year ended December 31, 2018, which are included in the Company’s current report on Form 10-K.
Recent Accounting Standards	Recent Accounting Standards In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement. ASU 2018-13 modifies the disclosure requirements for fair value measurements by removing, modifying, or adding certain disclosures. The amendments in ASU 2018-13 will be effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. An entity is permitted to early adopt any removed or modified disclosures upon issuance of ASU No. 2018-13 and delay adoption of the additional disclosures until their effective date. The Company has not yet evaluated the impact of adoption of this ASU on its condensed consolidated financial statements disclosures. In June 2018, the FASB issued ASU No. 2018-07, Compensation — Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In February 2018, the FASB issued ASU No. 2018-02, “Income Statement — Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” In July 2017, FASB issued ASU No. 2017-11, Earnings per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), Derivatives and Hedging (Topic 815). ASU 2017-11 consists of two parts. The amendments in Part I of this Update change the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. The amendments also clarify existing disclosure requirements for equity-classified instruments. As a result, a freestanding equity-linked financial instrument (or embedded conversion option) no longer would be accounted for as a derivative liability at fair value as a result of the existence of a down round feature. For freestanding equity classified financial instruments, the amendments require entities that present earnings per share (EPS) in accordance with Topic 260 to recognize the effect of the down round feature when it is triggered. That effect is treated as a dividend and as a reduction of income available to common shareholders in basic EPS. Convertible instruments with embedded conversion options that have down round features are now subject to the specialized guidance for contingent beneficial conversion features (in Subtopic 470-20, Debt—Debt with Conversion and Other Options), including related EPS guidance (in Topic 260). The amendments in Part II of this Update re-characterize the indefinite deferral of certain provisions of Topic 480 that now are presented as pending content in the Codification, to a scope exception. Those amendments do not have an accounting effect. For public business entities, the amendments in Part I of this Update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The amendments in Part II of this Update do not require any transition guidance because those amendments do not have an accounting effect. The Company has adopted ASU 2017-11 and adoption of this ASU has no significant impact on its condensed consolidated financial statements. In February 2016 , the FASB issued authoritative guidance under ASU 2016 - 02 , Leases (Topic 842) . ASU 2016 - 02 provides new comprehensive lease accounting guidance that supersedes existing lease guidance. Upon adoption of ASU 2016 - 02 , the Company will be required to recognize most leases on its balance sheet at the beginning of the earliest comparative period presented with a corresponding adjustment to stockholders’ equity. ASU 2016 - 02 requires the Company to capitalize most current operating lease obligations as right-of-use assets with a corresponding liability based on the present value of future operating lease obligations. Criteria for distinguishing leases between finance and operating are substantially similar to criteria for distinguishing between capital leases and operating leases in previous lease guidance. Lease agreements that are 12 months or less are permitted to be excluded from the balance sheet. Topic 842 includes a number of optional practical expedients that the Company may elect to apply. Expanded disclosures with additional qualitative and quantitative information will also be required. The adoption will include updates as provided under ASU 2018 - 01 , Leases (Topic 842) : Land Easement Practical Expedient for Transition to Topic 842 and ASU 2018 - 10 , Codification Improvements to Topic 842 , Leases. Since the Company is an emerging growth company and elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 (a) of the Exchange Act, this ASU 2016 - 02 and related ASUs will be effective for the Company beginning in fiscal 2020 . The Company is currently evaluating the potential impact of adoption of this standard on its condensed consolidated financial statements and the additional transition method under ASU 2018 - 11 , which allows the Company to recognize Topic 842 ’s cumulative effect within retained earnings in the period of adoption.
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09 (Topic 606) “Revenue from Contracts with Customers.” Topic 606 supersedes the revenue recognition requirements in Topic 605 “Revenue Recognition” (Topic 605). The new standard’s core principal is that an entity will recognize revenue at an amount that reflects the consideration to which the entity expects to be entitled in exchange for transferring good or services to a customer. The principles in the standard are applied in five steps: 1) Identify the contract(s) 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 when (or as) the entity satisfies a performance obligation. The Company adopted Topic 606 as of January 1, 2019 using the modified retrospective transition method. The adoption of Topic 606 did not have any material impact on the Company’s condensed consolidated financial statements.
Goodwill	Goodwill Goodwill represents the difference between the consideration transferred and the fair value of the net assets acquired, and liabilities assumed under the acquisition method of accounting for push-down accounting. Goodwill is not amortized but is evaluated for impairment within the Company’s single reporting unit on an annual basis during the fourth quarter, or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of the Company’s reporting unit below its carrying amount. When performing the impairment assessment, the accounting standard for testing goodwill for impairment permits a company to first assess the qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the goodwill is impaired. If the Company believes, as a result of the qualitative assessment, that it is more likely than not that the fair value of goodwill is impaired, the Company then must perform a quantitative analysis to determine if the carrying value of the reporting entity exceeds its fair value. As of March 31, 2019, the Company’s common stock value declined, accordingly, the Company determined that its carrying value is in excess of its fair value and as such, recorded an impairment charge of $794 and revalued goodwill to $10,051.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies and Recent Accounting Standards (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents [Table Text Block]	The following table provides a reconciliation of cash, cash equivalents and restricted cash as reported in the condensed consolidated balance sheets that sum to the total of the same amounts in the statement of cash flows. Three Months Ended 2019 2018 Cash and cash equivalents $ 2,146 $ 1,553 Restricted Cash 204 204 Total cash, cash equivalents and restricted cash in the statement of cash flows $ 2,350 $ 1,757

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Text Block [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses consisted of the following: At March 31, 2019 At December 31, 2018 Prepaid Insurance $ 147 $ 243 Prepaid Clinical Trials 589 419 Prepaid Other 167 27 Deferred Operating Costs 333 28 Total prepaid and other current assets $ 1,236 $ 717

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	Property and equipment consisted of the following: At March 31, 2019 At December 31, 2018 Laboratory equipment $ 1,533 $ 1,529 Computer equipment 191 185 Office furniture and equipment 217 217 Leasehold improvements 579 579 Total property and equipment 2,520 2,510 Less accumulated depreciation and amortization (2,166 ) (2,116 ) Property and equipment, net $ 354 $ 394

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following: At March 31, 2019 At December 31, 2018 Accrued vacation $ 80 $ 59 Accrued wages and incentive 1,134 915 Accrued clinical & consulting 746 517 Accrued legal & patent 92 67 Deferred rent 61 67 Accrued other expenses 71 71 Total accrued expenses $ 2,184 $ 1,696

Warrants (Tables)

Warrants (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Summary of Common Stock Warrants Outstanding	A rollforward of the common stock warrants outstanding at March 31, 2019 is as follows. Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding January 1, 2019 4,428,444 $ 10.78 $ — Pre-funded warrants exercised (697,500 ) $ (0.01 ) Representative warrants expiration (3,926 ) $ (226.60 ) Adjustment for reverse stock split 16 Warrants issued 1,862,162 $ 1.39 Outstanding March 31, 2019 5,589,196 $ 8.83 4.481 $ —
Summary of the Warrants Outstanding	The following represents a summary of the warrants outstanding at each of the dates identified: Number of Shares Underlying Warrants For the Period Ended March 31, Issue Date Classification Exercise Price Expiration Date 2019 2018 February 12, 2019 Equity $ 1.8313 February 7, 2024 110,922 — February 12, 2019 Equity $ 1.34 August 12, 2024 1,706,484 — February 04, 2019 Equity $ 2.125 January 30, 2024 34,605 — January 31, 2019 Equity $ 2.125 January 26, 2024 10,151 — December 3, 2018 Equity $ 3.90 June 3, 2024 937,500 — April 3, 2018 Equity $ 7.50 April 3, 2023 2,350,011 — April 4, 2018 Equity $ 7.50 April 4, 2023 115,000 — August 31, 2015 Equity $ 118.00 August 31, 2020 3,000 3,000 June 15, 2015 Equity $ 75.50 June 15, 2020 319,008 319,008 June 15, 2015 Equity $ 83.50 June 16, 2020 2,515 2,515 Total Outstanding 5,589,196 324,523

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	The following table summarizes stock option activity for the three months ended March 31, 2019: Number of Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term ( Years) Aggregate Intrinsic Value Outstanding — January 1, 2019 972,569 $ 23.85 $ — Granted — $ — Exercised — $ — Forfeited or expired (145,581 ) $ 28.81 Outstanding — March 31, 2019 826,988 $ 22.98 8.22 $ — Exercisable — March 31, 2019 490,102 $ 32.57 7.73 $ — Vested and expected to vest — March 31, 2019 818,211 $ 23.15 8.21 $ —
Stock-Based Compensation Expense	The following table presents total stock-based compensation expense for the three months ended March 31, 2019: Three Months Ended March 31, 2019 2018 Research and development $ 49 $ 210 General and administrative 410 555 Total stock based compensation expense $ 459 $ 765

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Schedule of Computation of Diluted Weighted-Average Shares Outstanding Anti-Dilutive	The following potentially dilutive securities outstanding prior to the use of the treasury stock method have been excluded from the computation of diluted weighted-average shares outstanding, as they would be anti-dilutive. As of March 31, 2019 2018 Options to purchase common stock 826,988 369,335 Warrants to purchase common stock 5,589,196 328,444 Settlement of term loan — 8,526 Total 6,416,184 706,305

Commitments (Tables)

Commitments (Tables)	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments under the Non-Cancelable Operating Lease for Office and Lab Space	Future minimum lease payments under the non-cancelable operating lease for office and lab space is as follows: Amount 2019 507 2020 698 Total $ 1,205

Organization - Additional Infor

Organization - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 12, 2019	Feb. 03, 2019	Apr. 15, 2019	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Organization And Basis Of Presentation [Line Items]
Unrestricted Cash				$ 2,146	$ 1,553	$ 2,563
Working capital deficit				413
Accumulated deficit				(199,721)		$ (194,565)
Cash used in operating activities				$ (3,456)	(3,125)
Reverse stock split		1-for-10
Common stock shares of outstanding		10		8,027,895		4,932,723
Gross proceeds from sale of common stock	$ 2,500			$ 16,560
Common stock shares of issued		10		8,027,895		4,932,723
Proceeds from Issuance or Sale of Equity				$ 89
Subsequent Event [Member]
Organization And Basis Of Presentation [Line Items]
Proceeds from definitive agreement			$ 22,000
At the Market Offering [Member] | BTIG LLC [Member]
Organization And Basis Of Presentation [Line Items]
Gross proceeds from sale of common stock				$ 3,049
Proceeds from Issuance or Sale of Equity					$ 1,847

Summary of Significant Accoun_4

Summary of Significant Accounting Policies and Recent Accounting Standards - Cash and Restricted Cash (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 2,146	$ 2,563	$ 1,553
Restricted Cash	204		204
Total cash, cash equivalents and restricted cash in the statement of cash flows	$ 2,350	$ 2,767	$ 1,757	$ 3,754

Summary of Significant Accoun_5

Summary of Significant Accounting Policies and Recent Accounting Standards - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Summary of Significant Accounting Policies [Line Items]
Impairment of goodwill	$ 794
Goodwill	10,051	$ 10,845
Restricted Cash and Cash Equivalents	$ 204		$ 204

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Insurance	$ 147	$ 243
Prepaid Clinical Trials	589	419
Prepaid Other	167	27
Deferred Operating Costs	333	28
Total prepaid and other current assets	$ 1,236	$ 717

Property and Equipment, Net - S

Property and Equipment, Net - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 2,520	$ 2,510
Less accumulated depreciation and amortization	(2,166)	(2,116)
Property and equipment - net	354	394
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	1,533	1,529
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	191	185
Office Furniture and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	217	217
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 579	$ 579

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property And Equipment [Abstract]
Depreciation and amortization expense	$ 50	$ 60

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Accrued vacation	$ 80	$ 59
Accrued wages and incentive	1,134	915
Accrued clinical & consulting	746	517
Accrued legal & patent	92	67
Deferred rent	61	67
Accrued other expenses	71	71
Total accrued expenses	$ 2,184	$ 1,696

Common Stock - Additional Infor

Common Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Feb. 12, 2019	Feb. 04, 2019	Jan. 31, 2019	Mar. 31, 2019	Mar. 31, 2018	Mar. 17, 2017
Temporary Equity [Line Items]
Sale of stock, number of shares sold in transaction	1,706,484
Proceeds from sale of common stock				$ 89
Average selling price of common stock	$ 1.465
Proceeds from Issuance of Common Stock	$ 2,500			16,560
Proceeds from Issuance of Common Stock and Warrants				$ 2,979	$ 1,847
Investor [Member]
Temporary Equity [Line Items]
Stock issued during period, shares	1,706,484
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.34			$ 1.34
Class of Warrant or Right, Date from which Warrants or Rights Exercisable	Aug. 12, 2024
Underwriters [Member]
Temporary Equity [Line Items]
Class of Warrant or Right Issued	110,922
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.8313
Class of Warrant or Right, Date from which Warrants or Rights Exercisable	Feb. 7, 2024
Warrant [Member]
Temporary Equity [Line Items]
Payment of commissions and other issuance cost				$ 691
Proceeds from sale of common stock				3,049
Proceeds from Warrant Exercises				$ 70
Prefunded Warrants Issued [Member] | Warrant [Member]
Temporary Equity [Line Items]
Class of Warrant or Right Issued				697,500
At the Market Offering [Member] | BTIG LLC [Member]
Temporary Equity [Line Items]
Sale of stock, number of shares sold in transaction					123,266
Proceeds from sale of common stock					$ 1,847
Fixed commission rate entitled to placement agent				3.00%	3.00%
Average selling price of common stock					$ 15.45
Gross proceeds from sale of shares					$ 1,904
Proceeds from Issuance of Common Stock				$ 3,049
At the Market Offering [Member] | BTIG LLC [Member] | Maximum [Member]
Temporary Equity [Line Items]
Aggregate offering on sale of common stock						$ 11,000
Confidential Marketed Public Offering [Member]
Temporary Equity [Line Items]
Sale of stock, number of shares sold in transaction		532,353	156,118
Average selling price of common stock		$ 1.70	$ 1.70
Class of Warrant or Right Issued		34,605	10,151
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 2.125	$ 2.125
Class of Warrant or Right, Date from which Warrants or Rights Exercisable				Jan. 26, 2024
Proceeds from Issuance of Common Stock and Warrants				$ 1,170

Warrants - Summary of rollforwa

Warrants - Summary of rollforward of the common stock warrants outstanding (Details) - Warrant [Member]	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Class of Warrant or Right [Line Items]
Number of warrants, Outstanding, Beginning balance | shares	4,428,444
Adjustment for reverse stock split	16
Number of warrants, Outstanding, Ending balance | shares	5,589,196
Weighted average exercise price, Beginning balance | $ / shares | $ / shares	$ 10.78
Weighted average exercise price, Ending balance | $ / shares | $ / shares	$ 8.83
Weighted average remaining contractual term, Ending balance	4 years 5 months 23 days
Representative warrants expiration [Member]
Class of Warrant or Right [Line Items]
Class Of Warrant Or Right Expired	(3,926)
Weighted average exercise price, Warrants exercised | $ / shares | $ / shares	$ (226.60)
Pre-funded warrants exercised [Member]
Class of Warrant or Right [Line Items]
Class Of Warrant Or Right Exercised	(697,500)
Weighted average exercise price, Warrants exercised | $ / shares | $ / shares	$ (0.01)
Warrants Issued [Member]
Class of Warrant or Right [Line Items]
Class Of Warrant Or Right Issued	1,862,162
Weighted average exercise price, Warrants issued | $ / shares | $ / shares	$ 1.39

Warrants - Summary of the Warra

Warrants - Summary of the Warrants Outstanding (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2019	Feb. 12, 2019	Mar. 31, 2018
Class of Warrant or Right [Line Items]
Warrants Outstanding	5,589,196		324,523
Underwriter [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 1.8313
Warrants, Expiration Date	Feb. 7, 2024
Warrants Outstanding	110,922
Investor [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 1.34	$ 1.34
Warrants, Expiration Date	Aug. 12, 2024
Warrants Outstanding	1,706,484
Underwriter One [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 2.125
Warrants, Expiration Date	Jan. 30, 2024
Warrants Outstanding	34,605
Underwriter Two [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 2.125
Warrants, Expiration Date	Jan. 26, 2024
Warrants Outstanding	10,151
Warrants Issued [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 3.90
Warrants, Expiration Date	Jun. 3, 2024
Warrants Outstanding	937,500
Public Offering One [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 7.50
Warrants, Expiration Date	Apr. 3, 2023
Warrants Outstanding	2,350,011
Public Offering Two [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 7.50
Warrants, Expiration Date	Apr. 4, 2023
Warrants Outstanding	115,000
Private Placement Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 75.50
Warrants, Expiration Date	Jun. 15, 2020
Warrants Outstanding	319,008		319,008
Hercules Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 83.50
Warrants, Expiration Date	Jun. 16, 2020
Warrants Outstanding	2,515		2,515
MTS Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants, Classification	Equity
Warrants, Exercise Price	$ 118
Warrants, Expiration Date	Aug. 31, 2020
Warrants Outstanding	3,000		3,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding	826,988	972,569
Unrecognized stock-based compensation expenses	$ 2,195
Unrecognized stock-based compensation expense, period for recognition	1 year 8 months 12 days
2013 Employee, Director and Consultant Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate shares of Common Stock that may be delivered under options outstanding	1,496,637
Shares available for future grant	659,100
Legacy Share Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding	43,768

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of options, Outstanding beginning balance | shares	972,569
Number of options, Granted | shares	0
Number of options, Exercised | shares	0
Number of options, Forfeited or expired | shares	(145,581)
Number of options, Outstanding ending balance | shares	826,988
Number of options, Exercisable | shares	490,102
Number of options, Vested and expected to vest | shares	818,211
Weighted average exercise price, Outstanding beginning balance | $ / shares	$ 23.85
Weighted average exercise price, Granted | $ / shares	0
Weighted average exercise price, Exercised | $ / shares	0
Weighted average exercise price, Forfeited or expired | $ / shares	28.81
Weighted average exercise price, Outstanding ending balance | $ / shares	22.98
Weighted average exercise price, Exercisable | $ / shares	32.57
Weighted average exercise price, Vested and expected to vest | $ / shares	$ 23.15
Weighted average remaining contractual term, Outstanding ending balance	8 years 2 months 19 days
Weighted average remaining contractual term, Exercisable	7 years 8 months 23 days
Weighted average remaining contractual term, Vested and expected to vest	8 years 2 months 15 days
Aggregate intrinsic value, Outstanding | $	$ 0
Aggregate intrinsic value, Exercised | $	0
Aggregate intrinsic value, Forfeited or expired | $	0
Aggregate intrinsic value, Outstanding | $	0
Aggregate intrinsic value, Exercisable | $	0
Aggregate intrinsic value, Vested and expected to vest | $	$ 0

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 459	$ 765
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	49	210
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 410	$ 555

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Operating Loss Carryforwards [Line Items]
Deferred Tax Assets	$ 44,770

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Computation of Diluted Weighted-Average Shares Outstanding Anti-Dilutive (Detail) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	6,416,184	706,305
Term Loan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share		8,526
Warrants To Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	5,589,196	328,444
Options to Purchase Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive securities excluded from computation of diluted net loss per common share	826,988	369,335

Commitments - Schedule of Futur

Commitments - Schedule of Future Minimum Lease Payments under the Non-Cancelable Operating Lease for Office and Lab Space (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 507
2020	698
Total	$ 1,205

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Apr. 08, 2019	Apr. 15, 2019	Mar. 31, 2019	Feb. 12, 2019
Share Price				$ 1.465
Warrant [Member]
Proceeds from Warrant Exercises			$ 70
Payments of Stock Issuance Costs			$ 691
Pre Funded Warrants [Member] | Warrant [Member]
Payments of Stock Issuance Costs	$ 100
Subsequent Event [Member]
Class of Warrants or Rights Exercise Term	5 years
Proceeds from Issuance Initial Public Offering	$ 16,600
Warrants, Exercise Price	$ 1.35
Payments of Stock Issuance Costs	$ 1,500
Proceeds from UpFront Fee		$ 22,000
Number of shares called by warrants	12,266,665
Development Costs Allocation Terms		Once the development costs exceed $24 million, the Company and Cipla will each bear 50% of any costs incurred with respect to the development, regulatory and commercialization costs
Subsequent Event [Member] | Pre Funded Warrants [Member]
Number of Warrants Exercised	6,942,168
Proceeds from Warrant Exercises	$ 69
Class of Warrant or Right Issued	8,947,112
Warrants, Exercise Price	$ 1.34
Subsequent Event [Member] | IPO [Member]
Number of shares called by warrants	3,319,553
Share Price	$ 1.35
Subsequent Event [Member] | IPO [Member] | Underwriter Warrants [Member]
Warrants, Exercise Price	$ 1.6875
Number of shares called by warrants	797,334