Xenon Pharmaceuticals (XENE) 10-Q/A 26 May 20 2020 Q1 Quarterly report (amended) Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 18, 2020
Cover [Abstract]
Entity Registrant Name	Xenon Pharmaceuticals Inc.
Document Type	10-Q/A
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		34,974,119
Amendment Flag	true
Amedment Description	The sole purpose of this Amendment No. 2 to Xenon Pharmaceuticals Inc.'s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, originally filed with the Securities and Exchange Commission on May 21, 2020 and with the Canadian Securities Authorities on May 22, 2020, is to furnish Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Due to a technical error, the eXtensible Business Reporting Language ("XBRL") data associated with the Form 10-Q was omitted from that filing and is being resubmitted. No other changes have been made to the Form 10-Q. This Amendment No. 2 speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date, and does not modify or update in any way disclosures made in the original filing of the Form 10-Q.
Entity Central Index Key	0001582313
Entity Filer Category	Accelerated Filer
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity File Number	001-36687
Entity Tax Identification Number	98-0661854
Entity Address, Address Line One	200-3650 Gilmore Way
Entity Address, City or Town	Burnaby
Entity Address, State or Province	BC
Entity Address, Country	CA
Entity Address, Postal Zip Code	V5G 4W8
City Area Code	604
Local Phone Number	484-3300
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	XENE
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	Z4
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 60,508	$ 24,755
Marketable securities	169,163	116,603
Accounts receivable	1,617	813
Prepaid expenses and other current assets	2,582	2,695
Total current assets	233,870	144,866
Operating lease right-of-use asset (note 7)	832	933
Property, plant and equipment, net	2,155	1,660
Deferred tax assets (note 12)	186	238
Total assets	237,043	147,697
Current liabilities:
Accounts payable and accrued expenses (note 8)	8,084	8,818
Deferred revenue (note 11)	24,608	29,743
Operating lease liability (note 7)	156	168
Term loan (note 9)	15,676	4,650
Total current liabilities	48,524	43,379
Deferred revenue, long-term (note 11)		709
Operating lease liability, long-term (note 7)	541	743
Term loan, long-term (note 9)		10,889
Total liabilities	49,065	55,720
Shareholders’ equity:
Preferred shares, without par value; unlimited shares authorized; issued and outstanding: 1,016,000 (December 31, 2019 - 1,016,000) (note 10)	7,732	7,732
Common shares, without par value; unlimited shares authorized; issued and outstanding: 34,956,272 (December 31, 2019 - 28,139,228) (note 10)	397,307	294,244
Additional paid-in capital	41,068	40,646
Accumulated deficit	(257,139)	(249,655)
Accumulated other comprehensive loss	(990)	(990)
Shareholders' equity	187,978	91,977
Total liabilities and shareholders’ equity	237,043	147,697
Commitments and contingencies (note 13)

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred shares, without par value
Preferred shares, shares authorized	Unlimited	Unlimited
Preferred shares, issued	1,016,000	1,016,000
Preferred shares, outstanding	1,016,000	1,016,000
Common shares, without par value
Common shares, shares authorized	Unlimited	Unlimited
Common shares, Issued	34,956,272	28,139,228
Common shares, Outstanding	34,956,272	28,139,228

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue (note 11)	$ 7,078
Operating expenses:
Research and development	11,791	$ 9,137
General and administrative	3,320	2,621
Total operating expenses	15,111	11,758
Loss from operations	(8,033)	(11,758)
Other income (expense):
Interest income	1,116	682
Interest expense	(330)	(358)
Foreign exchange gain (loss)	(238)	130
Loss before income taxes	(7,485)	(11,304)
Income tax (expense) recovery (note 12)	1	(37)
Net loss and comprehensive loss	(7,484)	(11,341)
Net loss attributable to preferred shareholders	(222)	(430)
Net loss attributable to common shareholders	$ (7,262)	$ (10,911)
Net loss per common share (note 5):
Basic and diluted	$ (0.22)	$ (0.42)
Weighted-average common shares outstanding (note 5):
Basic and diluted	33,189,733	25,753,836

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total		Convertible Preferred Shares [Member]	Common Shares [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	[1]
Balance at Dec. 31, 2018	$ 103,295		$ 7,732	$ 265,923	$ 38,515	$ (207,885)	$ (990)
Balance (in Shares) at Dec. 31, 2018			1,016,000	25,750,721
Cumulative effect of accounting change	(175)					(175)
Net loss	(11,341)					(11,341)
Stock-based compensation expense	476				476
Issued pursuant to exercise of stock options	$ 58			$ 117	(59)
Issued pursuant to exercise of of stock options (in Shares)	22,402	[2]		21,233
Balance at Mar. 31, 2019	$ 92,313		$ 7,732	$ 266,040	38,932	(219,401)	(990)
Balance (in Shares) at Mar. 31, 2019			1,016,000	25,771,954
Balance at Dec. 31, 2018	103,295		$ 7,732	$ 265,923	38,515	(207,885)	(990)
Balance (in Shares) at Dec. 31, 2018			1,016,000	25,750,721
Balance at Dec. 31, 2019	91,977		$ 7,732	$ 294,244	40,646	(249,655)	(990)
Balance (in Shares) at Dec. 31, 2019			1,016,000	28,139,228
Net loss	(7,484)					(7,484)
Issuance of common shares, net of issuance costs (note 10a)	102,456			$ 102,456
Issuance of common shares, net of issuance costs (note 10a) (in shares)				6,759,187
Stock-based compensation expense	1,015				1,015
Issued pursuant to exercise of stock options	$ 14			$ 607	(593)
Issued pursuant to exercise of of stock options (in Shares)	98,326	[2]		57,857
Balance at Mar. 31, 2020	$ 187,978		$ 7,732	$ 397,307	$ 41,068	$ (257,139)	$ (990)
Balance (in Shares) at Mar. 31, 2020			1,016,000	34,956,272
[1]	Our accumulated other comprehensive loss is entirely related to historical cumulative translation adjustments from the application of U.S. dollar reporting when the functional currency of the Company was the Canadian dollar.
[2]	During the three months ended March 31, 2020, 1,972 stock options were exercised for the same number of common shares for cash (2019 – 20,576). In the same period, the Company issued 55,885 common shares (2019 – 657) for the cashless exercise of 96,354 stock options (2019 – 1,826).

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Operating activities:
Net loss	$ (7,484)	$ (11,341)
Items not involving cash:
Depreciation	104	79
Amortization of discount on term loan	137	125
Deferred income tax expense	52	33
Stock-based compensation	1,015	491
Unrealized foreign exchange (gain) loss	522	(23)
Unrealized gain on marketable securities	(281)	(29)
Changes in operating assets and liabilities:
Accounts receivable	(824)	20
Prepaid expenses and other current assets	113	389
Accounts payable and accrued expenses	(577)	1,560
Deferred revenue	(5,844)
Net cash used in operating activities	(13,067)	(8,696)
Investing activities:
Purchases of property, plant and equipment	(647)	(335)
Purchases of marketable securities	(107,482)	(34,325)
Proceeds from marketable securities	55,204	27,657
Net cash used in investing activities	(52,925)	(7,003)
Financing activities:
Issuance of common shares, net of issuance costs (note 10a)	102,456
Issuance of common shares pursuant to exercise of stock options	14	58
Net cash provided by financing activities	102,470	58
Effect of exchange rate changes on cash and cash equivalents	(725)	67
Increase (decrease) in cash and cash equivalents	35,753	(15,574)
Cash and cash equivalents, beginning of period	24,755	67,754	$ 67,754
Cash and cash equivalents, end of period	60,508	52,180	$ 24,755
Supplemental disclosures:
Interest paid	206	230
Interest received	1,172	709
Cash paid for operating lease	159	158
Supplemental disclosures of non-cash transactions:
Fair value of stock options exercised on a cashless basis	$ 583	$ 7

Nature of the Business

Nature of the Business	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Nature of the Business	1. Nature of the business: Xenon Pharmaceuticals Inc. (the “Company”), incorporated in 1996 under the predecessor to the Business Corporations Act (British Columbia) and continued federally in 2000 under the Canada Business Corporation Act, is a clinical stage biopharmaceutical company focused on developing innovative therapeutics to improve the lives of patients with neurological disorders. Building upon its extensive knowledge of human genetics and diseases caused by mutations in ion channels, known as channelopathies, the Company is advancing a novel product pipeline of neurology-focused therapies to address areas of high unmet medical need, with a focus on epilepsy. The Company has incurred significant operating losses since inception. As of March 31, 2020, the Company had an accumulated deficit of $257,139 and a $7,484 net loss for the three months ended March 31, 2020. Management expects to continue to incur significant expenses in excess of revenue and to incur operating losses for the foreseeable future. To date, the Company has financed its operations primarily through funding received from collaboration and license agreements, private placements of common and preferred shares, public offerings of common shares, debt financing, and government funding. Until such time as the Company can generate substantial product revenue, if ever, management expects to finance the Company’s cash needs through a combination of collaboration agreements, equity and debt financings. The continuation of research and development activities and the future commercialization of its products are dependent on the Company’s ability to successfully raise additional funds when needed. It is not possible to predict either the outcome of future research and development programs or the Company’s ability to continue to fund these programs in the future.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	2. Basis of presentation: These consolidated financial statements are presented in U.S. dollars. The Company has one wholly-owned subsidiary as of March 31, 2020, Xenon Pharmaceuticals USA Inc., which was incorporated in Delaware on December 2, 2016. These unaudited interim consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All intercompany transactions and balances have been eliminated on consolidation. Certain information has been reclassified to conform with the financial statement presentation adopted for the current year. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, these consolidated financial statements do not include all of the information and footnotes required for complete consolidated financial statements and should be read in conjunction with the audited consolidated financial statements and notes for the year ended December 31, 2019 and included in the Company’s 2019 Annual Report on Form 10-K filed with the SEC and with the securities commissions in British Columbia, Alberta and Ontario on March 9, 2020. These unaudited interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, which, in the opinion of management, are necessary for a fair presentation of results for the interim periods presented. The results of operations for the three months ended March 31, 2020 and 2019 are not necessarily indicative of results that can be expected for a full year. These unaudited interim consolidated financial statements follow the same significant accounting policies as those described in the notes to the audited consolidated financial statements of the Company included in the Company’s 2019 Annual Report on Form 10-K for the year ended December 31, 2019, with the exception of the policies described in notes 3 and 4 below.

Use of Estimates

Use of Estimates	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Use of Estimates	3. Use of estimates The preparation of the unaudited interim consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Significant areas of estimates include, but are not limited to, revenue recognition including estimated timing of completion of performance obligations, the determination of stock-based compensation and the amounts recorded as accrued liabilities. These estimates and assumptions take into account historical and forward looking factors that the Company believes are reasonable, including but not limited to the potential impacts arising from the recent novel coronavirus (“COVID-19”) and public and private sector policies and initiatives aimed at reducing its transmission. There was no material impact to the Company’s consolidated financial statements as of and for the three months ended March 31, 2020; however, the full extent to which the COVID-19 pandemic may have a direct or indirect impact to our business, results of operations and financial condition, including revenue, expenses, research and clinical development plans and timelines, depends on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19, as well as the economic impact on local, regional, national and global markets. Actual results could differ materially from these estimates. Estimates and assumptions are reviewed quarterly. All revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.

Changes in Significant Accounti

Changes in Significant Accounting Policies	3 Months Ended
	Mar. 31, 2020
Accounting Changes And Error Corrections [Abstract]
Changes in Significant Accounting Policies	4. Changes in significant accounting policies: In November 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-08, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606): Codification Improvements—Share-Based Consideration Payable to a Customer. These amendments clarify that companies must measure and classify share-based payment awards to a customer following the guidance in Topic 718. A company will classify awards as liabilities or equity following the guidance in Topic 718, and measure them at their grant-date fair value. The awards will be recorded as a reduction to revenue or an expense based on the guidance in Topic 606. If a company intends to provide an award to a customer and the grant date has not occurred, the transaction price guidance in Topic 606 should be followed to estimate the fair value of the award. A company must adjust the fair value estimate each reporting date until a grant date is achieved and recognize changes in the grant-date fair value of an award as a result of changes in the expected outcome of a service or a performance condition as a reduction in the transaction price. If the terms of the award are modified after the grantee vests in the award and is no longer a customer, the award may be subject to other guidance. The Company has adopted this standard as of January 1, 2020 on a retrospective basis. The adoption of the standard had no impact on the Company’s consolidated balance sheets, consolidated statements of operations and comprehensive loss and consolidated statements of cash flows.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	5 . Net income (loss) per common share: For the three months ended March 31, 2020, basic net income (loss) per common share is calculated using the two-class method required for participating securities which includes 1,016,000 The treasury stock method is used to compute the dilutive effect of the Company’s stock options and warrants. Under this method, the incremental number of common shares used in computing diluted net income (loss) per common share is the difference between the number of common shares assumed issued and purchased using assumed proceeds. The if-converted method is used to compute the dilutive effect of the Company’s convertible preferred shares. Under the if-converted method, dividends on the preferred shares, if applicable, are added back to earnings attributable to common shareholders, and the preferred shares and paid-in kind dividends are assumed to have been converted at the share price applicable at the end of the period. The if-converted method is applied only if the effect is dilutive. For the three months ended March 31, 2020 and 2019, all stock options, warrants and convertible preferred shares were anti-dilutive and were excluded from the diluted weighted average common shares outstanding for the period.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	6 . Fair value of financial instruments: Certain financial instruments and other items are measured at fair value. To determine the fair value, the Company uses the fair value hierarchy for inputs used to measure fair value of financial assets and liabilities. This hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels: Level 1 (highest priority), Level 2, and Level 3 (lowest priority). • Level 1 - Unadjusted quoted prices in active markets for identical instruments. • Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (i.e., interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). • Level 3 - Inputs are unobservable and reflect the Company’s assumptions as to what market participants would use in pricing the asset or liability. The Company develops these inputs based on the best information available. Assets and liabilities are classified based on the lowest level of input that is significant to the fair value measurements. Changes in the observability of valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. The Company’s Level 1 assets include cash and cash equivalents and marketable securities with quoted prices in active markets. The carrying amount of accounts receivables, accounts payable and accrued expenses approximates fair value due to the nature and short-term of those instruments. The Company’s term loan bears interest at a rate that approximates prevailing market rates for instruments with similar characteristics and, accordingly, the carrying value of the loan approximates fair value.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	7 . Leases: The Company has one operating lease for research laboratories and office space in Burnaby, British Columbia for a 120-month term from April 1, 2012 to March 31, 2022. The cost components of the operating lease were as follows for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 March 31, 2019 Lease Cost Operating lease expense $ 109 $ 109 Variable lease expense (1) 136 135 Lease Term and Discount Rate Remaining lease term (years) 2 3 Discount rate 3.75 % 3.75 % (1) Future minimum lease payments as of March 31, 2020 were as follows: Year ending December 31: 2020 451 2021 567 2022 136 Total future minimum lease payments $ 1,154 Less: imputed interest (38 ) Less: future lease incentives reasonably certain of use (419 ) Present value of lease liabilities $ 697

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	3 Months Ended
	Mar. 31, 2020
Payables And Accruals [Abstract]
Accounts Payable and Accrued Expenses	8 . Accounts payable and accrued expenses: Accounts payable and accrued expenses consisted of the following: March 31, December 31, 2020 2019 Trade payables $ 3,217 $ 2,473 Employee compensation, benefits, and related accruals 976 2,892 Consulting and contracted research 3,639 3,104 Professional fees 237 154 Other 15 195 Total $ 8,084 $ 8,818

Term Loan

Term Loan	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Term Loan	9 . Term loan: In August 2018, the Company entered into an Amended and Restated Loan and Security Agreement (the “Amended and Restated Loan Agreement”) with Silicon Valley Bank (the “Bank”), pursuant to which the Bank agreed to extend a term loan to the Company with a principal amount of $15,500 On May 20, 2020, the Company repaid the total outstanding term loan balance ahead of the maturity date. The repayment consisted of (i) the outstanding principal balance, (ii) a final payment fee of $1,008 , $225. Interest expense was $330 for the three months ended March 31, 2020 (2019 - $358). Included within interest expense, are amortization of the debt discount and accretion of the final payment fee of $137 (2019 - $125). The outstanding loan and unamortized debt discount balances as of March 31, 2020 and December 31, 2019 were as follows: March 31, December 31, 2020 2019 Term loan $ 15,500 $ 15,500 Accrued portion of final payment fee 493 411 Less: unamortized discount on loan (317 ) (372 ) Less: current portion (15,676 ) (4,650 ) Loan payable, long-term $ — $ 10,889

Share Capital

Share Capital	3 Months Ended
	Mar. 31, 2020
Stockholders Equity Note [Abstract]
Share Capital	10. (a) Financing: In November 2019, the Company entered into an at-the-market equity offering sales agreement with Jefferies LLC (“Jefferies”) and Stifel Nicolaus & Company, Incorporated (“Stifel”) to sell common shares of the Company having aggregate gross proceeds of up to $50,000, from time to time, through an “at-the-market” equity offering program under which Jefferies and Stifel would act as sales agents. As of December 31, 2019, the Company had sold 805,643 common shares under the sales agreement for proceeds of approximately $10,771, net of commissions paid, but excluding transaction expenses. In January 2020, the Company sold an additional 2,446,687 common shares for proceeds of approximately $37,979, net of commissions paid, but excluding transaction expenses. In January 2020, the Company entered into an underwriting agreement with Jefferies, Stifel and Guggenheim Securities, LLC, relating to an underwritten public offering of 3,750,000 common shares sold by the Company at a public offering price of $16.00 per common share, and granted the underwriters an option for a period of 30 days to purchase up to an additional 562,500 common shares. The public offering was completed on January 27, 2020, and the Company received net proceeds of $56,700, net of underwriting discounts and commissions, but before offering expenses. The underwriters exercised their option in full in February 2020 and the Company received additional net proceeds of $8,460, net of underwriting discounts and commissions, but before offering expenses. (b) Exchange agreement with certain funds affiliated with BVF Partners L.P. (collectively, “BVF”): In March 2018, the Company and BVF entered into an exchange agreement pursuant to which the Company issued to BVF 2,868,000 Series 1 Preferred Shares in exchange for 2,868,000 common shares which were subsequently cancelled by the Company. The Company filed articles of amendment creating an unlimited number of Series 1 Preferred Shares. The Series 1 Preferred Shares are convertible into common shares on a one-for-one basis subject to the holder, together with its affiliates, beneficially owning no more than 9.99% of the total number of common shares issued and outstanding immediately after giving effect to such conversion (the “Beneficial Ownership Limitation”). The holder may reset the Beneficial Ownership Limitation to a higher or lower number, not to exceed 19.99% of the total number of common shares issued and outstanding immediately after giving effect to such conversion, upon providing written notice to the Company which will be effective 61 days after delivery of such notice. Each Series 1 Preferred Share is also convertible into one common share at any time at the Company’s option without payment of additional consideration, provided that prior to any such conversion, the holder, together with its affiliates, beneficially owns less than 5.00% of the total number of common shares issued and outstanding and such conversion will not result in the holder, together with its affiliates, beneficially holding more than 5.00% of the total number of common shares issued and outstanding immediately after giving effect to such conversion. In the event of a change of control, holders of Series 1 Preferred Shares shall be issued one common share for each outstanding Series 1 Preferred Share held immediately prior to the change of control (without regard to the Beneficial Ownership Limitation), and following such conversion, will be entitled to receive the same kind and amount of securities, cash or property that a holder of common shares is entitled to receive in connection with such change of control. The Series 1 Preferred Shares rank equally to the common shares in the event of liquidation, dissolution or winding up or other distribution of the assets of the Company among its shareholders and the holders of the Series 1 Preferred Shares are entitled to vote together with the common shares on an as-converted basis and as a single class, subject in the case of each holder of the Series 1 Preferred Shares to the Beneficial Ownership Limitation. Any Series 1 Preferred Shares that are ineligible to be converted into common shares due to the Beneficial Ownership Limitation, measured as of a given record date that applies for a shareholder meeting or ability to act by written consent, shall be deemed to be non-voting securities of the Company. Holders of Series 1 Preferred Shares are entitled to receive dividends (without regard to the Beneficial Ownership Limitation) on the same basis as the holders of common shares. The Company may not redeem the Series 1 Preferred Shares. The Company recorded the issuance of Series 1 Preferred Shares and corresponding cancellation of common shares at $7.61 per share, the estimated weighted average cost at which BVF acquired the common shares. The Series 1 Preferred Shares are recorded wholly as equity under ASC 480, with no bifurcation of conversion feature from the host contract, given that the Series 1 Preferred Shares cannot be cash settled and have no redemption features. During the year ended December 31, 2018, BVF converted 1,852,000 Series 1 Preferred Shares in exchange for an equal number of common shares of the Company. BVF was a related party of the Company prior to the closing of the exchange agreement, and continues to be a related party as of March 31, 2020 and thereafter. (c) Stock-based compensation: The following table presents stock option activity for the period: Three Months Ended March 31, 2020 2019 Outstanding, beginning of period 3,534,236 2,671,906 Granted 1,118,350 21,900 Exercised (1) (98,326 ) (22,402 ) Forfeited, cancelled or expired (26,268 ) (3,955 ) Outstanding, end of period 4,527,992 2,667,449 Exercisable, end of period 1,992,705 1,769,984 (1) The fair value of each stock option granted is estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three Months Ended March 31, 2020 2019 Average risk-free interest rate 0.80 % 2.58 % Expected volatility 68 % 76 % Average expected term (in years) 6.73 6.27 Expected dividend yield 0 % 0 % Weighted average fair value of stock options $ 7.41 $ 5.34

Revenue

Revenue	3 Months Ended
	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue	11 . Revenue: Revenue was as follows for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 Neurocrine Biosciences: Recognition of the transaction price $ 5,844 $ — Research and development services 1,234 — Total collaboration revenue $ 7,078 $ — In December 2019, the Company entered into a License and Collaboration Agreement . At execution of the agreement, Neurocrine Biosciences paid the Company an upfront cash payment of $30,000 and a $20,000 equity investment in the Company. The equity investment was measured at fair value of $16,667 on the date of issuance and the resulting premium $3,333, together with the upfront cash payment totaling $33,333, was the transaction price of the arrangement for allocation to the performance obligations. The agreement includes the following performance obligations: (i) an exclusive license to XEN901 with associated technology and know-how transfer, (ii) an exclusive license to the DTCs with associated know-how transfer, (iii) a license to Research Compounds and research services under the Research Program, (iv) development services under the Initial Development Program for XEN901, and (v) development services under the Initial Development Program for the DTCs. The total transaction price of $33,333 was allocated to performance obligation (v) based on its estimated standalone selling price determined based on internal development plans and budget, with the balance allocated to performance obligations (i) and (ii) by the residual approach. The Company allocated the transaction price as follows: $28,807 to performance obligations (i) and (ii), which performance obligations are delivered concurrently and are being recognized as revenue over an approximate ten month period from the signing of the agreement, which is the expected period to complete the delivery of the licenses and transfer of the relevant technology and know-how, and $4,526 to performance obligation (v) which is being recognized as revenue over an approximate thirteen month period beginning March 2020 which is the expected period to complete the development services. The arrangement consideration related to the services under performance obligations (iii) and (iv) to be performed on behalf of Neurocrine Biosciences were excluded from the initial transaction price allocation because the consideration and performance are contingent upon Neurocrine Biosciences requesting performance of the services and these services are priced at an estimated fair value. None of the at-risk substantive performance milestones, including development, regulatory and sales-based milestones, were included in the transaction price, as all milestone amounts are outside the control of the Company and contingent upon Neurocrine Biosciences’s efforts and success in future clinical trials. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. During The Company has an option to co-fund 50% of the development costs of XEN901 or another product candidate in the U.S., exercisable upon achievement of certain milestones, in exchange for increased U.S. royalties. The Company has not exercised this option as of March 31, 2020. Neurocrine Biosciences was a related party as of December 31, 2019 but was not considered a related party as of March 31, 2020.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	12 . Income taxes: Income tax (expense) recovery for the three months ended March 31, 2020 and 2019 arose from the operations of Xenon Pharmaceuticals USA Inc., the Company’s wholly-owned subsidiary in the United States. Deferred income tax assets recorded on the consolidated balance sheets as of March 31, 2020 and December 31, 2019 result from the temporary differences between the amounts of assets and liabilities recognized for financial statement and income tax purposes related to the operations of Xenon Pharmaceuticals USA Inc. The realization of deferred income tax assets is dependent upon the generation of sufficient taxable income during future periods in which the temporary differences are expected to reverse.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	13 . Commitments and contingencies: (a) Priority access agreement with Medpace Inc. (“Medpace”): In August 2015, the Company entered into a priority access agreement with Medpace for the provision of certain clinical development services. Under the terms of the agreement, the Company has committed to using Medpace non-exclusively for clinical development services over the five year term of the agreement. In consideration for priority access to Medpace resources and preferred service rates, the Company has committed to $7,000 of services over the term of the agreement ; $3,092 of services have been received to date and $3,908 remains committed as of March 31, 2020 . (b) License, manufacture and supply agreement: In March 2017, the Company entered into a license, manufacture and supply agreement with a pharmaceutical contract manufacturing organization for the access and use of certain regulatory documents as well as for the manufacture and supply of clinical and commercial drug product to support the development of XEN007. Under the terms of the agreement, the Company will be required to pay a low single-digit percentage royalty on net sales of any products developed and commercialized under the agreement. (c) Asset purchase agreement with 1st Order Pharmaceuticals, Inc. (“1st Order”): In April 2017, the Company acquired XEN1101 (previously known as 1OP2198) from 1st Order pursuant to an asset purchase agreement. Future potential payments to 1st Order related to the XEN1101 program include $500 in clinical development milestones, up to $6,000 in regulatory milestones, and $1,500 in other milestones, which may be payable pre-commercially. No amounts have been accrued to date based on the progress against these milestones. (d) License agreement In July 2017, the Company entered into a license agreement with a pharmaceutical company for the access and use of certain regulatory documents to support the development of XEN007. Future potential payments include $2,000 in clinical development milestones, up to $7,000 in regulatory milestones, plus a low-to-mid single-digit percentage royalty on net sales of any products developed and commercialized under the agreement. No amounts have been accrued to date based on the progress against these milestones. (e) Guarantees and indemnifications: The Company has entered into license and research agreements with third parties that include indemnification provisions that are customary in the industry. These indemnification provisions generally require the Company to compensate the other party for certain damages and costs incurred as a result of third party claims or damages arising from these transactions. The maximum amount of potential future indemnification is unlimited; however, the Company currently holds commercial and product liability insurance. This insurance limits the Company’s exposure and may enable it to recover a portion of any future amounts paid. Historically, the Company has not made any indemnification payments under such agreements and the Company believes that the fair value of these indemnification obligations is minimal. Accordingly, the Company has not recognized any liabilities relating to these obligations for any period presented.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
Subsequent Event	1 4 . Subsequent event: Pursuant to an agreement entered in September 2019 with Flexion Therapeutics Inc. (“Flexion”) to which Flexion acquired global rights to develop and commercialize XEN402, also known as funapide, the Company is eligible for various CMC, development and regulatory milestone payments of up to $9,000 through initiation of a Phase 2 proof-of-concept clinical trial, of which $500 related to the initiation of the first GLP toxicology study and was recognized into revenue during the year ended December 31, 2019 as the achievement of this milestone was considered highly probable. In April 2020, Flexion

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Cost Components of Operating Lease	The cost components of the operating lease were as follows for the three months ended March 31, 2020 and 2019: Three Months Ended March 31, 2020 March 31, 2019 Lease Cost Operating lease expense $ 109 $ 109 Variable lease expense (1) 136 135 Lease Term and Discount Rate Remaining lease term (years) 2 3 Discount rate 3.75 % 3.75 % (1)
Future Minimum Lease Payments	Future minimum lease payments as of March 31, 2020 were as follows: Year ending December 31: 2020 451 2021 567 2022 136 Total future minimum lease payments $ 1,154 Less: imputed interest (38 ) Less: future lease incentives reasonably certain of use (419 ) Present value of lease liabilities $ 697

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2020
Payables And Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consisted of the following: March 31, December 31, 2020 2019 Trade payables $ 3,217 $ 2,473 Employee compensation, benefits, and related accruals 976 2,892 Consulting and contracted research 3,639 3,104 Professional fees 237 154 Other 15 195 Total $ 8,084 $ 8,818

Term Loan (Tables)

Term Loan (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Outstanding Loan and Unamortized Debt Discount Balances	The outstanding loan and unamortized debt discount balances as of March 31, 2020 and December 31, 2019 were as follows: March 31, December 31, 2020 2019 Term loan $ 15,500 $ 15,500 Accrued portion of final payment fee 493 411 Less: unamortized discount on loan (317 ) (372 ) Less: current portion (15,676 ) (4,650 ) Loan payable, long-term $ — $ 10,889

Share Capital (Tables)

Share Capital (Tables)	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Option Activity	The following table presents stock option activity for the period: Three Months Ended March 31, 2020 2019 Outstanding, beginning of period 3,534,236 2,671,906 Granted 1,118,350 21,900 Exercised (1) (98,326 ) (22,402 ) Forfeited, cancelled or expired (26,268 ) (3,955 ) Outstanding, end of period 4,527,992 2,667,449 Exercisable, end of period 1,992,705 1,769,984 (1)
Fair Value Assumptions for Stock Options	The fair value of each stock option granted is estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Three Months Ended March 31, 2020 2019 Average risk-free interest rate 0.80 % 2.58 % Expected volatility 68 % 76 % Average expected term (in years) 6.73 6.27 Expected dividend yield 0 % 0 % Weighted average fair value of stock options $ 7.41 $ 5.34

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Schedule of Collaboration Revenue	Revenue was as follows for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 Neurocrine Biosciences: Recognition of the transaction price $ 5,844 $ — Research and development services 1,234 — Total collaboration revenue $ 7,078 $ —

Nature of the Business (Details

Nature of the Business (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accumulated deficit	$ 257,139		$ 249,655
Net loss	$ 7,484	$ 11,341

Basis of Presentation (Details)

Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2020
Xenon Pharmaceuticals USA Inc. [Member]
Basis Of Presentation [Line Items]
Date of incorporation	Dec. 2, 2016

Net Income (Loss) Per Common (D

Net Income (Loss) Per Common (Details) - shares	Mar. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Preferred shares, issued	1,016,000	1,016,000
Series1 Preferred Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Preferred shares, issued	1,016,000	1,016,000

Leases (Details)

Leases (Details) - Burnaby, British Columbia [Member]	3 Months Ended
	Mar. 31, 2020Lease
Lessee Lease Description [Line Items]
Number of operating leases	1
Operating lease term	120 months
Operating lease expiration date	Mar. 31, 2022
Operating lease, description	The Company has one operating lease for research laboratories and office space in Burnaby, British Columbia for a 120-month term from April 1, 2012 to March 31, 2022.

Leases - Schedule of Cost Compo

Leases - Schedule of Cost Components of Operating Lease (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Leases [Abstract]
Operating lease expense		$ 109	$ 109
Variable lease expense	[1]	$ 136	$ 135
Remaining lease term (years)		2 years	3 years
Discount rate		3.75%	3.75%
[1]	Variable lease costs are payments that vary because of changes in facts or circumstances and include common area maintenance and property taxes related to the premises. Variable lease costs are excluded from the calculation of minimum lease payments.

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) $ in Thousands	Mar. 31, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
2020	$ 451
2021	567
2022	136
Total future minimum lease payments	1,154
Less: imputed interest	(38)
Less: future lease incentives reasonably certain of use	(419)
Present value of lease liabilities	$ 697

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses - Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Trade payables	$ 3,217	$ 2,473
Employee compensation, benefits, and related accruals	976	2,892
Consulting and contracted research	3,639	3,104
Professional fees	237	154
Other	15	195
Total	$ 8,084	$ 8,818

Term Loan (Details)

Term Loan (Details) - USD ($) $ / shares in Units, $ in Thousands	May 20, 2020	Mar. 31, 2020	Mar. 31, 2019	Aug. 31, 2018
Debt Instrument [Line Items]
Interest expense		$ 330	$ 358
Term Loan [Member]
Debt Instrument [Line Items]
Interest expense		330	358
Silicon Valley Bank [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Amortization of debt discount and accretion of final payment fee		$ 137	$ 125
Silicon Valley Bank [Member] | Term Loan [Member] | Loan Agreement [Member]
Debt Instrument [Line Items]
Aggregate principal amount of debt instrument				$ 15,500
Warrants outstanding to purchase common stock		40,000
Warrants exercise price per common share		$ 9.79
Silicon Valley Bank [Member] | Term Loan [Member] | Loan Agreement [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument, final payment fee	$ 1,008
Debt instrument prepayment fee	$ 225

Term Loan - Schedule of Outstan

Term Loan - Schedule of Outstanding Loan and Unamortized Debt Discount Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Less: current portion	$ (15,676)	$ (4,650)
Loan payable, long-term		10,889
Term Loan [Member]
Debt Instrument [Line Items]
Term loan	15,500	15,500
Accrued portion of final payment fee	493	411
Less: unamortized discount on loan	(317)	(372)
Less: current portion	$ (15,676)	(4,650)
Loan payable, long-term		$ 10,889

Share Capital (Details)

Share Capital (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended				3 Months Ended	12 Months Ended
	Feb. 29, 2020	Jan. 31, 2020	Nov. 30, 2019	Mar. 31, 2018	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Capital [Line Items]
Sale proceeds of common shares					$ 102,456
Series1 Preferred Shares
Share Capital [Line Items]
Conversion of shares							1,852,000
Common Shares [Member]
Share Capital [Line Items]
Conversion of shares							1,852,000
BVF Partners L.P [Member] | Exchange Agreement [Member]
Share Capital [Line Items]
Estimated weighted average cancellation price per share of common stock				$ 7.61
BVF Partners L.P [Member] | Exchange Agreement [Member] | Series1 Preferred Shares
Share Capital [Line Items]
Shares issued				2,868,000
Preferred shares convertible into common shares				one-for-one
Common shares issued on conversion of preferred stock				1
Maximum beneficial ownership limitation percentage for conversion of common stock issued and outstanding				9.99%
Maximum beneficial ownership limitation upon notice, percentage for conversion of common stock issued and outstanding				19.99%
Maximum beneficial percentage hold for conversion of number Of common stock issued and outstanding				5.00%
Minimum beneficial percentage hold for conversion of number Of common stock issued and outstanding.				5.00%
BVF Partners L.P [Member] | Exchange Agreement [Member] | Common Shares [Member]
Share Capital [Line Items]
Shares cancelled				2,868,000
Common Shares [Member]
Share Capital [Line Items]
Shares issued					6,759,187
Jefferies and Stifel [Member] | At-The-Market Equity Offering [Member]
Share Capital [Line Items]
Sale proceeds of common shares		$ 37,979				$ 10,771
Jefferies and Stifel [Member] | At-The-Market Equity Offering [Member] | Maximum [Member]
Share Capital [Line Items]
Sale proceeds of common shares			$ 50,000
Jefferies and Stifel [Member] | At-The-Market Equity Offering [Member] | Common Shares [Member]
Share Capital [Line Items]
Shares issued		2,446,687				805,643
Jefferies, Stifel and Guggenheim Securities, LLC [Member] | Underwritten Public Offering [Member]
Share Capital [Line Items]
Sale proceeds of common shares		$ 56,700
Additional proceeds from issuance of common stock		$ 8,460
Jefferies, Stifel and Guggenheim Securities, LLC [Member] | Underwritten Public Offering [Member] | Common Shares [Member]
Share Capital [Line Items]
Shares issued	562,500	3,750,000
Shares price		$ 16

Share Capital - Stock Option Ac

Share Capital - Stock Option Activity (Details) - shares		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Options Outstanding, Beginning balance		3,534,236	2,671,906
Number of Options, Granted		1,118,350	21,900
Number of Options, Exercised	[1]	(98,326)	(22,402)
Number of Options, Forfeited, cancelled or expired		(26,268)	(3,955)
Number of Options Outstanding, Ending balance		4,527,992	2,667,449
Number of Options Exercisable, End of period		1,992,705	1,769,984
[1]	During the three months ended March 31, 2020, 1,972 stock options were exercised for the same number of common shares for cash (2019 – 20,576). In the same period, the Company issued 55,885 common shares (2019 – 657) for the cashless exercise of 96,354 stock options (2019 – 1,826).

Share Capital - Stock Option _2

Share Capital - Stock Option Activity (Parenthetical) (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Options exercised for Number of Common Shares for cash	1,972	20,576
Common stock issued for cashless exercise	55,885	657
Cashless exercise of stock options	96,354	1,826

Share Capital - Fair Value Assu

Share Capital - Fair Value Assumptions for Stock Options (Details) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Fair Value Assumptions For Stock Options [Abstract]
Average risk-free interest rate	0.80%	2.58%
Expected volatility	68.00%	76.00%
Average expected term (in years)	6 years 8 months 23 days	6 years 3 months 7 days
Expected dividend yield	0.00%	0.00%
Weighted average fair value of stock options granted	$ 7.41	$ 5.34

Revenue - Schedule of Collabora

Revenue - Schedule of Collaboration Revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Disaggregation Of Revenue [Line Items]
Revenue	$ 7,078
Neurocrine Biosciences [Member] | Collaboration Revenue [Member]
Disaggregation Of Revenue [Line Items]
Recognition of the transaction price	5,844
Research and development services	1,234
Revenue	$ 7,078

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Revenue	$ 7,078
Accounts receivable	1,617	$ 813
Neurocrine Biosciences [Member]
Disaggregation Of Revenue [Line Items]
Accounts receivable	1,234
Deferred revenue	24,608
Neurocrine Biosciences [Member] | Collaboration Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	7,078
Exclusive License to XEN901 and Exclusive License to DTCs [Member] | Neurocrine Biosciences [Member] | Collaboration Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	5,761
Development Services Under the Initial Development Program For DTCs [Member] | Neurocrine Biosciences [Member] | Collaboration Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	83
Research And Development Funding | Neurocrine Biosciences [Member] | Collaboration Revenue [Member]
Disaggregation Of Revenue [Line Items]
Revenue	1,234
License and Collaboration Agreement [Member] | Neurocrine Biosciences [Member]
Disaggregation Of Revenue [Line Items]
Upfront payment received in cash	30,000
Upfront payment received in equity investment	20,000
Equity investment measured at fair value	16,667
Collaborate agreement premium related to equity investment	3,333
Revenue	$ 33,333
Percentage of option to co-fund development costs upon achievement of certain milestones	50.00%
License and Collaboration Agreement [Member] | Exclusive License to XEN901 and Exclusive License to DTCs [Member] | Neurocrine Biosciences [Member]
Disaggregation Of Revenue [Line Items]
Transaction price allocated to performance obligations	$ 28,807
License and Collaboration Agreement [Member] | Development Services Under the Initial Development Program For DTCs [Member] | Neurocrine Biosciences [Member]
Disaggregation Of Revenue [Line Items]
Transaction price allocated to performance obligations	$ 4,526

Revenue - Additional Informat_2

Revenue - Additional Information (Details1) - License and Collaboration Agreement [Member] - Neurocrine Biosciences [Member]	Mar. 31, 2020	Dec. 31, 2019
Development Services Under the Initial Development Program For DTCs [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-04-01
Disaggregation Of Revenue [Line Items]
Revenue remaining performance obligation excepted period	13 months
Exclusive License to XEN901 and Exclusive License to DTCs [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-12-31
Disaggregation Of Revenue [Line Items]
Revenue remaining performance obligation excepted period		10 months

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	1 Months Ended		3 Months Ended
	Jul. 31, 2017	Apr. 30, 2017	Mar. 31, 2020	Aug. 31, 2015
License, Manufacture and Supply Agreement [Member]
Commitments and Contingencies [Line Items]
Royalty obligation description			Under the terms of the agreement, the Company will be required to pay a low single-digit percentage royalty on net sales of any products developed and commercialized under the agreement.
Asset Purchase Agreement [Member] | 1st Order Pharmaceuticals, Inc. [Member]
Commitments and Contingencies [Line Items]
Royalty obligations		$ 0
Asset Purchase Agreement [Member] | 1st Order Pharmaceuticals, Inc. [Member] | Clinical Development Milestones [Member]
Commitments and Contingencies [Line Items]
Future potential payments		500,000
Asset Purchase Agreement [Member] | 1st Order Pharmaceuticals, Inc. [Member] | Regulatory Milestone [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Future potential payments		6,000,000
Asset Purchase Agreement [Member] | 1st Order Pharmaceuticals, Inc. [Member] | Other Milestones [Member]
Commitments and Contingencies [Line Items]
Future potential payments		$ 1,500,000
License Agreement [Member]
Commitments and Contingencies [Line Items]
Royalty obligations	$ 0
License Agreement [Member] | Clinical Development Milestones [Member]
Commitments and Contingencies [Line Items]
Future potential payments	2,000,000
License Agreement [Member] | Regulatory Milestone [Member] | Maximum [Member]
Commitments and Contingencies [Line Items]
Future potential payments	$ 7,000,000
Medpace Clinical Development Service Agreement [Member]
Commitments and Contingencies [Line Items]
Service agreement, term			5 years
Committed service obligation			$ 3,908,000	$ 7,000,000
Contractual obligation paid			$ 3,092,000

Subsequent Event - Additional I

Subsequent Event - Additional Information (Details) - Asset Purchase Agreement [Member] - Flexion Therapeutics Inc [Member] - XEN402 [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019
Subsequent Event [Line Items]
Revenue from initiation of first GLP toxicology study	$ 500
Maximum [Member] | Eligible to Receive CMC Development and Regulatory Milestone Payments [Member]
Subsequent Event [Line Items]
Potential Milestone Payments Receivable		$ 9,000