Jaguar Health (JAGX) 10-Q 13 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 06, 2020
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
Entity Registrant Name	JAGUAR HEALTH, INC.
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001585608
Amendment Flag	false
Entity Ex Transition Period	true
Common stock - voting
Entity Common Stock, Shares Outstanding		40,269,721
Common stock - non-voting
Entity Common Stock, Shares Outstanding		40,301,237
Series A
Entity Common Stock, Shares Outstanding		5,524,926
Series B-2 convertible preferred stock
Entity Common Stock, Shares Outstanding		7,534

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash	$ 3,015	$ 3,495
Restricted cash		388
Accounts receivable	2,212	1,692
Accounts receivable - pledged	1,738
Other receivable	5	2
Inventory	2,354	2,129
Operating lease - right-of-use asset	188	553
Prepaid expenses and other current assets	2,094	1,263
Total current assets	11,606	9,522
Property and equipment, net	697	710
Intangible assets, net	25,181	26,024
Other assets	96	154
Total assets	37,580	36,410
Current liabilities:
Accounts payable	5,240	5,352
Deferred revenue	1,500
Accrued liabilities	4,856	2,922
Warrant liability	4,086	3
Operating lease liability	116	337
Notes payable, net of discount	8,960	6,778
Total current liabilities	24,758	15,392
Notes payable long term	400	450
Total liabilities	25,158	15,842
Commitments and contingencies (See Note 6)
Stockholders' equity
Additional paid-in capital	150,885	142,046
Accumulated deficit	(150,264)	(133,090)
Total stockholders' equity	1,544	10,673
Total liabilities, convertible preferred stock and stockholders' equity	37,580	36,410
Series A
Current liabilities:
Series A redeemable convertible preferred stock: $0.0001 par value, 5,524,926 shares authorized at June 30, 2020 and December 31, 2019; 5,524,926 shares issued and outstanding at June 30, 2020 and December 31, 2019; (redemption amount of $12,738,822 at June 30, 2020 and December 31, 2019; liquidation preference of $9,199,002 at June 30, 2020 and December 31, 2019)	10,878	9,895
Series B convertible preferred stock
Stockholders' equity
Preferred stock value		476
Total stockholders' equity		476
Series B-2 convertible preferred stock
Stockholders' equity
Preferred stock value	916	1,236
Total stockholders' equity	916	1,236
Common stock - voting
Stockholders' equity
Common stock value	3	1
Common stock - non-voting
Stockholders' equity
Common stock value	$ 4	$ 4

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Convertible preferred stock, shares authorized	10,000,000	10,000,000
Convertible preferred stock, shares issued	5,532,460	5,537,062
Convertible preferred stock, shares outstanding	5,534,431	5,537,062
Series A
Convertible preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Convertible preferred stock, shares authorized	5,524,926	5,524,926
Convertible preferred stock, shares issued	5,524,926	5,524,926
Convertible preferred stock, shares outstanding	5,524,926	5,524,926
Redemption amount	$ 12,738,822	$ 12,738,822
Liquidation preference	$ 9,199,002	$ 9,199,002
Series B convertible preferred stock
Convertible preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Convertible preferred stock, shares authorized	11,000	11,000
Convertible preferred stock, shares issued	0	1,971
Convertible preferred stock, shares outstanding	0	1,971
Series B-1 convertible preferred stock
Convertible preferred stock, shares authorized	63	63
Convertible preferred stock, shares issued	0	0
Convertible preferred stock, shares outstanding	0	0
Series B-2 convertible preferred stock
Convertible preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Convertible preferred stock, shares authorized	10,165	10,165
Convertible preferred stock, shares issued	7,534	10,165
Convertible preferred stock, shares outstanding	7,534	10,165
Common Stock
Common stock, shares authorized	210,000,000
Common Stock | Common stock - voting
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	32,408,421	14,273,061
Common stock, shares outstanding	32,408,421	14,273,061
Common Stock | Common stock - non-voting
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	40,301,237	40,301,237
Common stock, shares outstanding	40,301,237	40,301,237

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue
Total revenue	$ 3,167,000	$ 1,706,000	$ 4,036,000	$ 3,295,000
Operating expenses
Cost of product revenue	1,031,000	1,260,000	1,707,000	2,125,000
Research and development	1,405,000	1,698,000	2,987,000	3,119,000
Sales and marketing	1,730,000	2,173,000	3,199,000	3,738,000
General and administrative	3,756,000	3,197,000	6,905,000	6,711,000
Impairment of indefinite-lived intangible assets	0	4,000,000	0	4,000,000
Series B convertible preferred stock inducement expense			1,647,000
Series 3 warrants inducement expense	3,696,000		3,696,000
Total operating expenses	11,618,000	12,328,000	20,141,000	19,693,000
Loss from operations	(8,451,000)	(10,622,000)	(16,105,000)	(16,398,000)
Interest expense	(479,000)	(3,657,000)	(678,000)	(4,204,000)
Other income (expense)	78,000	14,000	(4,000)	21,000
Change in fair value of financial instruments	(386,000)	207,000	(387,000)	161,000
Loss on extinguishment of debt		(2,663,000)		(4,605,000)
Net loss	(9,238,000)	(16,721,000)	(17,174,000)	(25,025,000)
Net loss attributable to common shareholders	$ (10,597,000)	$ (16,721,000)	$ (19,013,000)	$ (25,025,000)
Net loss per share, basic and diluted (in dollars per share)	$ (0.44)	$ (15.11)	$ (0.97)	$ (31.22)
Weighted-average common shares outstanding, basic and diluted (in shares)	23,890,931	1,106,374	19,516,419	801,482
Accretion of Series A convertible preferred
Operating expenses
Deemed dividend	$ (503,000)		$ (983,000)
Series 1, Series 2 and Bridge warrant
Operating expenses
Deemed dividend	(856,000)		(856,000)
Product revenue, net
Revenue
Total revenue	$ 3,167,000	$ 1,706,000	$ 4,036,000	$ 3,295,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY - USD ($)	Series 1, Series 2, and 2019 Bridge Note warrantsCommon StockCommon stock - voting	Series 1, Series 2, and 2019 Bridge Note warrantsAdditional paid-in capital	Series 1, Series 2, and 2019 Bridge Note warrants	Series 1, Series 2, and 2019 Bridge Note warrants May 2020Common StockCommon stock - voting	Series 1, Series 2, and 2019 Bridge Note warrants May 2020Additional paid-in capital	Series 1, Series 2, and 2019 Bridge Note warrants May 2020	Series 1, Series 2, and 2019 Bridge Note warrants June 2020Common StockCommon stock - voting	Series 1, Series 2, and 2019 Bridge Note warrants June 2020Additional paid-in capital	Series 1, Series 2, and 2019 Bridge Note warrants June 2020	Series 2 warrants and inducement offer conversion of Series B-1 convertible preferred stockCommon StockCommon stock - voting	Series 2 warrants and inducement offer conversion of Series B-1 convertible preferred stockAdditional paid-in capital	Series 2 warrants and inducement offer conversion of Series B-1 convertible preferred stock	Series B-2 convertible preferred stockCommon StockCommon stock - voting	Series B-2 convertible preferred stockAdditional paid-in capital	Series B-2 convertible preferred stockSeries B-2 convertible preferred stock	Series B convertible preferred stockCommon StockCommon stock - voting	Series B convertible preferred stockAdditional paid-in capital	Series B convertible preferred stockSeries B convertible preferred stock	PIPE Financing Warrants, Dec 2019	March 2020 Equity Purchase AgreementCommon StockCommon stock - voting	March 2020 Equity Purchase AgreementAdditional paid-in capital	March 2020 Equity Purchase Agreement	Underwriter Settlement AgreementCommon StockCommon stock - voting	Underwriter Settlement AgreementAdditional paid-in capital	Underwriter Settlement Agreement	CVP NotesCommon StockCommon stock - voting	CVP NotesAdditional paid-in capital	CVP Notes	CVP Exchange NotesCommon StockCommon stock - voting	CVP Exchange NotesAdditional paid-in capital	CVP Exchange Notes	Common StockCommon stock - voting	Common StockCommon stock - non-voting	Additional paid-in capital	Accumulated deficit	Series A convertible preferred stock	Series B convertible preferred stock	Series B-1 convertible preferred stock	Series B-2 convertible preferred stock	Total
Beginning Balance at Dec. 31, 2018																																				$ 9,000,000
Beginning Balance (in shares) at Dec. 31, 2018																																				5,524,926
Ending Balance at Jun. 30, 2019																																				$ 9,000,000
Ending Balance (in shares) at Jun. 30, 2019																																				5,524,926
Beginning Balance at Dec. 31, 2018																																	$ 4,000	$ 99,930,000	$ (94,551,000)					$ 5,383,000
Beginning Balance (in shares) at Dec. 31, 2018																																351,472	40,301,237
Increase (decrease) in Stockholders' Equity (Deficit)
Issuance of common stock to Oasis, put exercise																																		2,602,000						2,602,000
Issuance of common stock to Oasis, put exercise (in shares)																																195,319
Issuance of common stock, registered offering																																		266,000						266,000
Issuance of common stock, registered offering (in shares)																																19,019
Issuance of common stock for Tempesta Settlement, October 2019																														$ 5,584,000	$ 5,584,000	$ 1,000		8,223,000						8,224,000
Issuance of common stock for Tempesta Settlement, October 2019 (in shares)																													817,863			395,970
Fractional shares (in shares)																																(14)
Issuance of common stock in exchange of accrued interest, January 2019																																		447,000						447,000
Issuance of common stock in exchange of accrued interest, January 2019 (in shares)																																19,752
Stock-based compensation																																		873,000						873,000
Net loss																																			(25,025,000)					(25,025,000)
Ending Balance at Jun. 30, 2019																																$ 1,000	$ 4,000	117,925,000	(119,576,000)					$ (1,646,000)
Ending Balance (in shares) at Jun. 30, 2019																																1,799,381	40,301,237
Beginning Balance at Dec. 31, 2018																																				$ 9,000,000
Beginning Balance (in shares) at Dec. 31, 2018																																				5,524,926
Ending Balance at Dec. 31, 2019																																				$ 9,895,000
Ending Balance (in shares) at Dec. 31, 2019																																				5,524,926	1,971	0	10,165	5,537,062
Beginning Balance at Dec. 31, 2018																																	$ 4,000	99,930,000	(94,551,000)					$ 5,383,000
Beginning Balance (in shares) at Dec. 31, 2018																																351,472	40,301,237
Increase (decrease) in Stockholders' Equity (Deficit)
Issuance of common stock in PIPE financing, net of issuance costs of $51																			$ 1,035,000
Ending Balance at Dec. 31, 2019																																$ 1,000	$ 4,000	142,046,000	(133,090,000)		$ 476,000		$ 1,236,000	10,673,000
Ending Balance (in shares) at Dec. 31, 2019																																14,273,061	40,301,237				1,971		10,165
Beginning Balance at Mar. 31, 2019																																				$ 9,000,000
Beginning Balance (in shares) at Mar. 31, 2019																																				5,524,926
Ending Balance at Jun. 30, 2019																																				$ 9,000,000
Ending Balance (in shares) at Jun. 30, 2019																																				5,524,926
Beginning Balance at Mar. 31, 2019																																$ 1,000	$ 4,000	109,644,000	(102,855,000)					6,794,000
Beginning Balance (in shares) at Mar. 31, 2019																																848,785	40,301,237
Increase (decrease) in Stockholders' Equity (Deficit)
Issuance of common stock to Oasis, put exercise																																		100,000						100,000
Issuance of common stock to Oasis, put exercise (in shares)																																4,843
Issuance of common stock in exchange for services																											$ 2,151,000	$ 2,151,000
Issuance of common stock in exchange for services (in shares)																										127,904
Issuance of common stock for Tempesta Settlement, October 2019																														$ 5,584,000	$ 5,584,000
Issuance of common stock for Tempesta Settlement, October 2019 (in shares)																													817,863
Fractional shares (in shares)																																(14)
Stock-based compensation																																		446,000						446,000
Net loss																																			(16,721,000)					(16,721,000)
Ending Balance at Jun. 30, 2019																																$ 1,000	$ 4,000	117,925,000	(119,576,000)					$ (1,646,000)
Ending Balance (in shares) at Jun. 30, 2019																																1,799,381	40,301,237
Beginning Balance at Dec. 31, 2019																																				$ 9,895,000
Beginning Balance (in shares) at Dec. 31, 2019																																				5,524,926	1,971	0	10,165	5,537,062
Ending Balance at Jun. 30, 2020																																				$ 10,878,000
Ending Balance (in shares) at Jun. 30, 2020																																				5,524,926	0	0	7,534	5,534,431
Beginning Balance at Dec. 31, 2019																																$ 1,000	$ 4,000	142,046,000	(133,090,000)		$ 476,000		$ 1,236,000	$ 10,673,000
Beginning Balance (in shares) at Dec. 31, 2019																																14,273,061	40,301,237				1,971		10,165
Increase (decrease) in Stockholders' Equity (Deficit)
Issuance of common stock to Oasis, put exercise																						$ 10,000
Issuance of common stock to Oasis, put exercise (in shares)																					10,000
Issuance of common stock in exchange for services																						33,000
Issuance of common stock in exchange for services (in shares)																				52,000	33,000
Value of shares issued on exercise of warrants		$ 392,000	$ 392,000	$ 1,000	$ 3,787,000	$ 3,788,000		$ 359,000	$ 359,000	$ 1,000	$ 2,340,000	$ 2,341,000
Shares issued on exercise of warrants	548,962			8,670,852			732,315			1,250,000
Issuance of common stock in PIPE financing, net of issuance costs of $51																								$ 45,000	$ 45,000									668,000						668,000
Issuance of common stock (In shares)																							100,000									1,714,283
Underwriter settlement offering cost																								(185,000)	(185,000)
Conversion of Series B convertible preferred stock into common stock														$ 320,000	$ (320,000)		$ 476,000	$ (476,000)
Conversion of Series B convertible preferred stock into common stock (shares)													499,890		(2,631)	4,423,251		(1,971)		68,807
Issuance of warrants for services																								31,000	31,000
Shares issued to third party for services																																		37,000						37,000
Shares issued to third party for services (in shares)																																75,000
Accretion to redemption value of Series A redeemable convertible preferred stock																																		(983,000)		$ 983,000				(983,000)
Stock-based compensation																																		1,509,000						1,509,000
Net loss																																			(17,174,000)					(17,174,000)
Ending Balance at Jun. 30, 2020																																$ 3,000	$ 4,000	150,885,000	(150,264,000)				$ 916,000	$ 1,544,000
Ending Balance (in shares) at Jun. 30, 2020																																32,408,421	40,301,237						7,534
Beginning Balance at Mar. 31, 2020																																				$ 10,375,000
Beginning Balance (in shares) at Mar. 31, 2020																																				5,524,926
Ending Balance at Jun. 30, 2020																																				$ 10,878,000
Ending Balance (in shares) at Jun. 30, 2020																																				5,524,926	0	0	7,534	5,534,431
Beginning Balance at Mar. 31, 2020																																$ 2,000	$ 4,000	145,861,000	(141,026,000)		$ 476,000		$ 916,000	$ 6,233,000
Beginning Balance (in shares) at Mar. 31, 2020																																18,286,196	40,301,237				1,971		7,534
Increase (decrease) in Stockholders' Equity (Deficit)
Issuance of common stock to Oasis, put exercise																					$ 10,000	10,000
Issuance of common stock to Oasis, put exercise (in shares)																				52,000
Issuance of common stock in exchange for services																					$ 33,000	$ 33,000
Issuance of common stock in exchange for services (in shares)																				68,807
Value of shares issued on exercise of warrants				$ 1,000	$ 3,787,000	$ 3,788,000	$ 732,315	$ 359,000	$ 359,000
Shares issued on exercise of warrants				8,670,852
Issuance of common stock in PIPE financing, net of issuance costs of $51																								$ 45,000	45,000
Issuance of common stock (In shares)																							100,000
Conversion of Series B convertible preferred stock into common stock																																		476,000			$ (476,000)
Conversion of Series B convertible preferred stock into common stock (shares)																																4,423,251					(1,971)
Issuance of warrants for services																									$ 31,000
Issuance of warrants for services (in shares)																								31,000
Shares issued to third party for services																																		37,000						37,000
Shares issued to third party for services (in shares)																																75,000
Accretion to redemption value of Series A redeemable convertible preferred stock																																		(503,000)		$ 503,000				(503,000)
Stock-based compensation																																		749,000						749,000
Net loss																																			(9,238,000)					(9,238,000)
Ending Balance at Jun. 30, 2020																																$ 3,000	$ 4,000	$ 150,885,000	$ (150,264,000)				$ 916,000	$ 1,544,000
Ending Balance (in shares) at Jun. 30, 2020																																32,408,421	40,301,237						7,534

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Stock Transactions, Parenthetical Disclosures
Issuance costs		$ 51
Series 1, Series 2, and 2019 Bridge Note warrants May 2020
Stock Transactions, Parenthetical Disclosures
Issuance costs	$ 461	461
March 2020 Equity Purchase Agreement
Stock Transactions, Parenthetical Disclosures
Issuance costs	$ 13	$ 13

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Cash flows from operating activities
Net loss		$ (9,238,000)	$ (16,721,000)	$ (17,174,000)	$ (25,025,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense				863,000	873,000
Impairment of indefinite-lived intangible assets		0	4,000,000	0	4,000,000
Loss on assignment of receivables				15,000
Loss on extinguishment of debt			2,663,000		4,605,000
Amortization of operating lease right-of-use-assets				365,000	363,000
Expense on modification of warrants				86,000
Series 3 warrants issued as an inducement to exercise equity-classified Series 1, Series 2 and Bridge warrants				3,696,000
Stock-based compensation				1,509,000	873,000
Issuance of common stock in exchange for services				37,000
Issuance of common stock as consideration paid under the Oasis Capital Equity Purchase Agreement				33,000
Amortization of debt issuance costs and debt discount				309,000	3,879,000
Change in fair value of warrants, conversion option and derivative liability				387,000	(161,000)
Changes in assets and liabilities
Accounts receivable				(2,258,000)	(1,102,000)
Other receivable				(3,000)	(87,000)
Inventory				(225,000)	949,000
Prepaid expenses and other current assets				(831,000)	248,000
Other non-current assets				58,000
Operating lease liabilities				(221,000)	(230,000)
Deferred revenue				1,500,000
Accounts payable				(76,000)	976,000
Accrued expenses				1,909,000	1,069,000
Total cash used in operating activities				(8,298,000)	(8,770,000)
Cash flows from investing activities
Purchase of equipment				(7,000)	(7,000)
Total cash used in investing activity				(7,000)	(7,000)
Cash flows from financing activities
Proceeds from issuance of notes payable, net of issuance costs and debt discount				350,000	5,050,000
Proceeds from insurance premium financing				776,000
Proceeds from sale of receivables, net of debt discount and issuance costs of $331				2,222,000
Repayment of notes payable				(1,515,000)	(100,000)
Proceeds from issuance of common stock					2,869,000
Payment of offering costs for July 2019 registered offering				(51,000)	(3,000)
Total cash provided by financing activities				7,437,000	7,816,000
Net decrease in cash				(868,000)	(961,000)
Cash at beginning of period	$ 1,607,000			3,883,000	2,568,000	$ 2,568,000
Cash at end of period		3,015,000	1,607,000	3,015,000	1,607,000	3,883,000
Supplemental schedule of cash flow information
Cash paid for interest				181,000
Supplemental schedule of non-cash financing and investing activities
Accretion to redemption value of Series A redeemable convertible preferred stock		(503,000)		(983,000)
Private Investment in Public Entities
Cash flows from financing activities
Proceeds from the issuance of convertible preferred stock				668,000
2019 Bridge Note Warrants
Cash flows from financing activities
Proceeds from issuance of common stock				173,000
Notes payable
Supplemental schedule of non-cash financing and investing activities
Common stock issued as redemption of notes payable and related interest					14,256,000
Issuance of warrants					5,006,000
Accounts payable and accrued expenses
Supplemental schedule of non-cash financing and investing activities
Offering costs included in accounts payable and accrued expenses		36,000	$ 333,000	36,000	333,000
PIPE Financing Warrants, Dec 2019
Cash flows from financing activities
Shares issued on conversion of Series 1, Series 2, and 2019 Bridge Note warrants; June 2020						$ 1,500,000
Ionic Series 2 Warrants
Cash flows from financing activities
Warrants issuance costs				(25,000)
Series 2 warrants
Cash flows from financing activities
Proceeds from issuance of common stock				708,000
Series 1 warrants
Cash flows from financing activities
Proceeds from issuance of common stock				144,000
March 2019 letter of credit warrant
Supplemental schedule of non-cash financing and investing activities
Issuance of warrants					$ 116,000
Series 1, Series 2, and 2019 Bridge Note warrants May 2020
Cash flows from financing activities
Payment of offering costs for July 2019 registered offering		(461,000)		(461,000)
Shares issued on exercise of Series 1, Series 2, and 2019 Bridge Note warrants, net of issuance costs of $461; May 2020				3,752,000
Series 1, Series 2, and 2019 Bridge Note warrants June 2020
Cash flows from financing activities
Shares issued on conversion of Series 1, Series 2, and 2019 Bridge Note warrants; June 2020				359,000
Underwriter Settlement Agreement
Adjustments to reconcile net loss to net cash used in operating activities:
Issuance of warrants and common stock in Underwriter settlement agreement				76,000
Cash flows from financing activities
Warrants issuance costs				(185,000)
Common Stock To Oasis Put Exercise
Cash flows from financing activities
Payment of offering costs for July 2019 registered offering				(13,000)
Proceeds from Issuance of Common Stock				10,000
Series B convertible preferred stock
Adjustments to reconcile net loss to net cash used in operating activities:
Series B convertible preferred stock inducement expense				1,647,000
Supplemental schedule of non-cash financing and investing activities
Conversion of Oasis Series B-2 convertible preferred stock into common stock		476,000
Shares issued on exercise of Series B convertible preferred shares				476,000
Series A convertible preferred stock
Supplemental schedule of non-cash financing and investing activities
Accretion to redemption value of Series A redeemable convertible preferred stock		$ 503,000		983,000
Oasis Series B-2 convertible preferred stock
Supplemental schedule of non-cash financing and investing activities
Conversion of Oasis Series B-2 convertible preferred stock into common stock				$ 320,000
Class B units
Cash flows from financing activities
Payment of offering costs for July 2019 registered offering	$ (1,635,000)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Net of debt discount and issuance costs		$ 331
Issuance costs		51
Common Stock To Oasis Put Exercise
Issuance costs		13
Series 1, Series 2, and 2019 Bridge Note warrants May 2020
Issuance costs	$ 461	$ 461

Organization and Business

Organization and Business	6 Months Ended
	Jun. 30, 2020
Organization and Business
Organization and Business	1. Organization and Business Jaguar Health, Inc. (“Jaguar”, “we” or the “Company”), formerly known as Jaguar Animal Health, Inc., was incorporated on June 6, 2013 (inception) in Delaware. The Company was a majority-owned subsidiary of Napo Pharmaceuticals, Inc. (“Napo” or the “Former Parent”) until the close of the Company's initial public offering on May 18, 2015. The Company was formed to develop and commercialize first-in-class gastrointestinal products for companion and production animals and horses. The Company's first commercial product, Neonorm Calf, was launched in 2014 and Neonorm Foal was launched in the first quarter of 2016. The Company's activities are subject to significant risks and uncertainties, including failing to secure additional funding in order to timely complete the development and commercialization of products. On July 31, 2017, Jaguar completed a merger with Napo pursuant to the Agreement and Plan of Merger dated March 31, 2017 by and among Jaguar, Napo, Napo Acquisition Corporation (“Merger Sub”), and Napo's representative (the “Merger Agreement”). In accordance with the terms of the Merger Agreement, upon the completion of the merger, Merger Sub merged with and into Napo, with Napo surviving as the Company’s wholly-owned subsidiary (the “Merger” or “Napo Merger”). Immediately following the Merger, Jaguar changed its name from “Jaguar Animal Health, Inc.” to “Jaguar Health, Inc.” Napo now operates as a wholly-owned subsidiary of Jaguar focused on human health and the ongoing commercialization of Mytesi, a Napo drug product approved by the U.S. Food and Drug Administration (“FDA”) for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy. The Company manages its operations through two segments—human health and animal health and is headquartered in San Francisco, California. Nasdaq Communication and Compliance On December 30, 2019, the Company received written notice from the Staff of the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the bid price for the Company’s common stock for the last 30 consecutive business days had closed below the minimum $1.00 per share required for continued listing under Nasdaq Listing Rule 5550(a)(2). Under Nasdaq Listing Rule 5810(c)(3)(A), the Company has been granted a 180 calendar day grace period, or until June 29, 2020, to regain compliance with the minimum bid price requirement. The continued listing standard will be met if the Company evidences a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days during the 180 calendar day grace period. In order for Nasdaq to consider granting the Company additional time beyond June 29, 2020, the Company would be required, among other things, to meet the continued listing requirement for market value of publicly held shares as well as all other standards for initial listing on Nasdaq, with the exception of the minimum bid price requirement. In the event the Company does not regain compliance with the $1.00 bid price requirement by June 29, 2020, eligibility for Nasdaq’s consideration of a second 180 day grace period would be determined on the Company’s compliance with the above referenced criteria on June 29, 2020. On April 17, 2020, the Company received a letter from Nasdaq indicating that given the extraordinary market conditions from COVID19, Nasdaq has determined to toll the compliance periods for bid price and market value of publicly held shares through June 30, 2020. As a result, companies presently in compliance period for any Price-based Requirements will remain at that stage of the process and will not be subject to being delisted for these concerns. Starting on July 1, 2020, companies received the balance of any pending compliance period in effect at the start of the tolling period to regain compliance. Accordingly, since the Company had 72 calendar days remaining in its Bid compliance period as of April 16, 2020, it still has 72 calendar days from July 1, 2020, or until September 10, 2020, to regain compliance. The Company is diligently working to evidence compliance with the minimum bid price requirement for continued listing on Nasdaq; however, there can be no assurance that the Company will be able to regain compliance or that Nasdaq will grant the Company a further extension of time to regain compliance, if necessary. If the Company fails to regain compliance with the Nasdaq continued listing standards, its common stock will be subject to delisting from Nasdaq. Liquidity and Going Concern The accompanying unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The Company, since its inception, has incurred recurring operating losses and negative cash flows from operations and has an accumulated deficit of $150.3 million as of June 30, 2020. The Company expects to incur substantial losses and negative cash flows in future periods. Further, the Company’s future operations are dependent on the success of the Company’s ongoing development and commercialization efforts, as well as securing of additional financing and generating positive cash flows from operations. There is no assurance that the Company will have adequate cash balances to maintain its operations. In addition, as a result of the recent outbreak of novel COVID-19, the Company may experience disruptions in fiscal year 2020 and beyond that could severely impact its supply chain, ongoing and future clinical trials and commercialization of Mytesi. Although the Company plans to finance its operations and cash flow needs through equity and/or debt financing, collaboration arrangements with other entities, license royalty agreements, as well as revenue from future product sales, the Company does not believe its current cash balances are sufficient to fund its operating plan through one year from the issuance of these unaudited condensed consolidated financial statements. The Company has an immediate need to raise cash. There can be no assurance that additional funding will be available to the Company on acceptable terms, or on a timely basis, if at all, or that the Company will generate sufficient cash from operations to adequately fund operating needs. If the Company is unable to obtain an adequate level of financing needed for short-term operations and the long-term development and commercialization of its products, the Company will need to curtail planned activities and reduce costs. Doing so will likely have an adverse effect on the Company's ability to execute on its business plan; accordingly, there is substantial doubt about the ability of the Company to continue in existence as a going concern. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and on a basis consistent with the annual consolidated financial statements, and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair presentation of the periods presented. These interim financial results are not necessarily indicative of the results to be expected for the year ending December 31, 2020, or for any other future annual or interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Annual Report on Form 10-K for the year ended December 31, 2019. The unaudited condensed consolidated balance sheet at December 31, 2019 has been derived from the audited consolidated financial statements at that date, but does not include all disclosures, including notes, required by GAAP for complete financial statements. There has been no material change to the Company's significant accounting policies during the three and six months June 30, 2020, as compared to the significant accounting policies described in Note 2 of the “Notes to Consolidated Financial Statements” in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. Except as noted above, the unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to present fairly the financial position as of June 30, 2020, results of operations for the six months ended June 30, 2020 and 2019, changes in convertible preferred stock and stockholders' equity for the three and six months ended June 30, 2020 and 2019, and cash flows for the six months ended June 30, 2020 and 2019. The interim results are not necessarily indicative of the results for any future interim periods or for the entire year. Principles of Consolidation The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) and include the accounts of the Company and its wholly-owned subsidiary. All inter-company transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make judgments, assumptions and estimates that affect the amounts reported in its unaudited condensed consolidated financial statements and the accompanying notes. The accounting policies that reflect the Company’s more significant estimates and judgments and that the Company believes are the most critical to aid in fully understanding and evaluating its reported financial results are valuation of stock options, valuation of warrant liabilities, acquired in-process research and development (“IPR&D"), and useful lives assigned to long-lived assets; valuation adjustments for excess and obsolete inventory; allowance for doubtful accounts; deferred taxes and valuation allowances on deferred tax assets; evaluation and measurement of contingencies; and recognition of revenue, including estimates for product returns. Those estimates could change, and as a result, actual results could differ materially from those estimates. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat COVID-19, as well as the economic impact on local, regional, national and international customers, markets and economies. Cash and Restricted Cash Our cash on deposit may exceed United States federally insured limits at certain times during the year. We maintain cash accounts with certain major financial institutions in the United States. Restricted cash represents cash not available to us for immediate and general use. Accounts Receivable Accounts receivable is recorded net of allowances for chargebacks and discounts for prompt payment and credit losses. The Company estimates an allowance for credit losses by considering factors such as historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. The corresponding expense for the credit loss allowance is reflected in general and administrative expenses. The credit loss allowance was immaterial as of June 30, 2020. Concentrations Cash is the financial instrument that potentially subjects the Company to a concentration of credit risk as cash is deposited with a bank and cash balances are generally in excess of Federal Deposit Insurance Corporation insurance limits. For the three and six months ended June 30, 2020 and 2019, substantially all of the Company’s revenue has been derived from the sale of Mytesi. For the three and six months ended June 30, 2020, the Company earned Mytesi revenue primarily from one pharmaceutical distributor in the United States. Revenue earned from each as a percentage of total net revenue is as follows: Three Months Ended Six Months Ended June 30, June 30, (unaudited) (unaudited) 2020 2019 2020 2019 Customer 1 100 % 100 % 99 % 89 % The Company is subject to credit risk from its accounts receivable related to its sales. The Company generally does not perform evaluations of customers' financial condition and generally does not require collateral. The Company's significant pharmaceutical distributors and their related accounts receivable balance as a percentage of total accounts receivable were as follows: June 30, 2020 December 31, (unaudited) 2019 Customer 1 100 % 99 % No other customer represented more than 10% of the Company's accounts receivable balances as of those dates. The Company is subject to concentration risk from its suppliers. The Company sources raw material used to produce the active pharmaceutical ingredient in Mytesi from two suppliers and is dependent on single third-party contract manufacturers, both for the supply of the active pharmaceutical ingredient in Mytesi, as well as for the supply of finished products for commercialization. Fair Value The Company’s financial instruments include accounts receivable, accounts payable, accrued expenses, warrant liabilities, derivative assets and liabilities, equity-linked financial instruments and debt. The recorded carrying amount of accounts receivable, accounts payable and accrued expenses reflect their fair value due to their short-term nature. The carrying value of the interest-bearing debt approximates fair value based upon the borrowing rates currently available to the Company for bank loans with similar terms and maturities. See Note 3 for the fair value measurements. Inventory Inventory is stated at the lower of cost or net realizable value. Cost is initially recorded at invoiced amount of raw materials or active pharmaceutical ingredient, including the sum of qualified expenditures and charges in bringing the inventory to its existing condition and location. The Company calculates inventory valuation adjustments when conditions indicate that net realizable value is less than cost due to physical deterioration, usage, obsolescence, reductions in estimated future demand or reduction in selling price. Inventory write-downs are measured as the difference between the cost of inventory and net realizable value. Land, Property and Equipment Land is stated at cost, reflecting fair value of the property at July 31, 2017, the date of the Napo merger. Equipment is stated at cost, net of accumulated depreciation. Equipment begins to be depreciated when it is placed into service. Depreciation is calculated using the straight-line method over estimated useful lives ranging between 3 to 10 years. Expenditures for repairs and maintenance of assets are charged to expense as incurred. Costs of major additions and betterments are capitalized and depreciated on a straight-line basis over their estimated useful lives. Upon retirement or sale, the cost and related accumulated depreciation of assets disposed of are removed from the accounts and any resulting gain or loss is included in the condensed consolidated statements of operations. Long-Lived Assets The Company regularly reviews the carrying value and estimated lives of all of its long-lived assets, including property and equipment to determine whether indicators of impairment may exist that warrant adjustments to carrying values or estimated useful lives. The determinants used for this evaluation include management’s estimate of the asset’s ability to generate positive income from operations and positive cash flow in future periods as well as the strategic significance of the assets to the Company’s business objectives. Definite-lived intangible assets are amortized on a straight-line basis over the estimated useful lives of intangible assets and are reviewed when appropriate for possible impairment. Indefinite-lived Intangible Assets Acquired in-process research and development (“IPR&D”) are intangible assets acquired in the July 2017 Napo merger. Under ASC 805, IPR&D are initially recognized at fair value and classified as indefinite-lived assets until the successful completion or abandonment of the associated research and development efforts. During the development period, these assets will not be amortized as charges to earnings; instead these assets will be tested for impairment on an annual basis or more frequently if impairment indicators are identified. An impairment loss is measured based on the excess of the carrying amount over the asset’s fair value. There were no impairment charges recorded in the three and six months ended June 30, 2020 . The Company recorded an impairment of $4,000,000 in the three and six months ended June 30, 2019. Leases ASC 842, Leases, requires lessees to recognize right-of-use assets and lease liabilities for all leases with a term of greater than 12 months regardless of their classification on the balance sheet and to provide expanded disclosures about leasing arrangements. The Company adopted ASC 842 on January 1, 2019 using the optional transition method with no restatements of comparative periods. There was no effect on accumulated deficit at adoption. The Company elected to adopt the package of practical expedients to (i) not reassess whether expired or existing contracts are or contain leases, (ii) not reassess the lease classification for any expired or existing leases and (iii) not reassess the accounting for initial direct costs. The adoption of the new leases standard resulted in the following adjustments to the consolidated balance sheet as of January 1, 2019: (in thousands) December 31, 2018 Adoption Impact January 1, 2019 Operating lease right-of-use assets $ — $ $ Operating leases liabilities, current portion — Operating leases liabilities, long term — Deferred rent (380) — At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. Because the interest rate implicit in lease contracts is typically not readily determinable, the Company utilizes its incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received. Operating Lease The Company has a non-cancelable operating lease with CA-Mission Street Limited Partnership for its offices in San Francisco, California through September 30, 2020. The lease agreement calls for monthly base rents between $38,000 and $41,000 over the term of the lease. The Company has engaged a realtor to assist us in relocating to new office space starting on or near the termination of the current lease with CA-Mission Street Limited Partnership. Research and Development Expense Research and development expense consist of expenses incurred in performing research and development activities including related salaries, clinical trials and related drug and non-drug product costs, contract services and other outside service expenses. Research and development expense is charged to operating expense in the period incurred. Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Practical Expedients, Elections, and Exemptions The Company recognizes revenue in accordance with the core principle of ASC 606 or when there is a transfer of control of promised goods or services to customers in an amount that reflects the consideration that the Company expects to be entitled to in exchange for those goods or services. The Company also elected a practical expedient available under ASC 606‑10‑32‑18 that permits it to not adjust the amount of consideration for the effects of a significant financing component if, at contract inception, the expected period between the transfer of promised goods or services and customer payment is one year or less. The Company has elected to treat shipping and handling activities as fulfillment costs. Additionally, the Company elected to record revenue net of sales and other similar taxes. Contracts - Cardinal Health Effective January 16, 2019, Napo engaged Cardinal Health as its exclusive third party logistics distribution agent for commercial sales for the Company’s Mytesi product and to perform certain other services which include, without limitation, storage, distribution, returns, customer support, financial support, Electronic Data Interchange (“EDI”) and system access support (the “Exclusive Distribution Agreement”) . In addition to the terms and conditions of the Exclusive Distribution Agreement, Cardinal Health’s purchase of products, and assumption of title therein, is set forth in the Title Model Addendum. The Title Model Addendum states that upon receipt of product at the 3PL Facility (Cardinal Health in La Vergne, Tennessee) from the Company, title and risk of loss for the Mytesi product purchased by Cardinal Health (excluding consigned inventory) shall pass to Cardinal Health, and title and risk of loss for consigned inventory shall remain with the Company until purchased by Cardinal Health in accordance with the Title Model Addendum. Napo considers Cardinal Health the Company’s exclusive customer for Mytesi products per the Exclusive Distribution Agreement. Jaguar's Neonorm and botanical extract products are primarily sold to distributors, who then sell the products to the end customers. Since 2014, the Company has entered into several distribution agreements with established distributors such as Animart, Vedco, VPI, RJ Matthews, Henry Schein, and Stockmen Supply to distribute the Company's products in the United States, Japan, and China. The distribution agreements and the related purchase order together meet the contract existence criteria under ASC 606‑10‑25‑1. Jaguar sells directly to its customers without the use of an agent. Performance obligations For animal products sold by Jaguar Health, the single performance obligation identified above is the Company’s promise to transfer the Company’s animal products to distributors based on specified payment and shipping terms in the arrangement. Product warranties are assurance type warranties that do not represent a performance obligation. For the Company’s human product, Mytesi, which is sold by Napo, the single performance obligation identified above is the Company’s promise to transfer Mytesi to Cardinal Health, the Company’s exclusive distributor for the product, based on specified payment and shipping terms as outlined in the Exclusive Distribution Agreement. Transaction price For contracts with Cardinal Health, for both Jaguar and Napo, the transaction price is the amount of consideration to which the Company expects to collect in exchange for transferring the promised goods or services to a customer. The transaction price of Mytesi and Neonorm is the Wholesaler Acquisition Cost (“WAC”), net of discounts, returns, and price adjustments. Allocate transaction price For contracts with Cardinal Health, for both Napo and Jaguar, the entire transaction price is allocated to the single performance obligation contained in each contract. Revenue recognition For contracts with Cardinal Health, for both Napo and Jaguar, a single performance obligation is satisfied at a point in time, upon the free on board (“FOB”) terms of each contract when control, including title and all risks, has transferred to the customer. Disaggregation of Product Revenue Human Sales of Mytesi are recognized as revenue when the products are delivered to the wholesaler. Net revenues from the sale of Mytesi were $ Animal The Company recognized Neonorm revenues of $ Contracts - Atlas Sciences Effective April 15, 2020 (the “Effective Date”), the Company entered into a patent purchase agreement with Atlas Sciences, LLC (“Atlas”), pursuant to which Atlas agreed to purchase certain patents and patent applications relating to the Napo’s NP-500 drug product candidate (the “Patent Rights”) for an upfront cash payment of $1,500,000. Concurrent with the Patent Rights sale, the Company entered into a license agreement with Atlas (the “License Agreement”), pursuant to which Atlas granted the Company an exclusive 10-year license to use the Patent Rights and improvements thereon to develop and commercialize NP-500 in all territories worldwide except Greater China (i.e., China, Hong Kong, Taiwan and Macau), inclusive of the right to sublicense NP-500 development and commercialization rights (“the License”). Except for the License retained by the Company, Atlas retains all rights, title and interest in and to the Patent Rights, including all improvements and enhancements to the Patent Rights made or created by the Company under the License Agreement or made or created by or on behalf of Atlas during the term of the License Agreement. Included in the arrangement with Atlas, the Company is obligated to initiate a proof of concept Phase 2 study of NP-500 under an investigational new drug (“IND”) application with the U.S. Food and Drug Administration or an IND-equivalent dossier under appropriate regulatory authorities (the “Phase 2 study”) within nine months of April 15, 2020. If the Company fails to initiate the Phase 2 study by this date, for any reason, including the timely receipt of adequate funding to initiate the Phase 2 study, the Company will incur a trial delay fee equal to $2,515,000 (the “Trial Delay Fee”), which amount is payable beginning on the nine-month anniversary of the Effective Date and continuing until the payment in full of the Trial Delay Fee, in an amount equal to: (a) from the nine- month anniversary of the Effective Date until the fifteenth-month anniversary of the Effective Date, $200,000; and (b) from the fifteenth -month anniversary of the Effective Date until payment in full of the Trial Delay Fee, $350,000. Atlas has the right to terminate the License in the event that the Company (i) fails to complete the Phase 2 study within five years of April 15, 2020 or (ii) has not timely initiated the Phase 2 study and thereafter fails to make three or more consecutive Trial Delay Payments. Performance obligations The Patent Rights sale to Atlas and the Phase 2 study to be performed by the Company, identified above, represent a single transaction with two separate performance obligations; with the sale of the Patent Rights, the Company transferred control of the internally generated Patent Rights to Atlas at the date of sale; and with the Phase 2 study, the services will be transferred to Atlas over an estimated 13.2 months. Transaction price For the contract with Atlas, the upfront payment of $1,500,000 from Atlas as consideration for the Patent Rights sale and the Phase 2 study, is variable consideration that is fully constrained due to the potential incurrence of a Trial Delay Fee of $2,515,000 if the Phase 2 study had not been initiated by January 15, 2021. The Company’s method was the most likely amount. The Company fully constrained the value of the variable consideration based on inherent uncertainty of timing of clinical trials. In addition, due to the estimated 13.2-month term over which the Company will perform the Phase 2 study, the upfront payment resulted in a significant financing component of $279,000. Accordingly, at inception, the total transaction price of $1,779,000 is deferred and the transaction price is zero. Allocate transaction price For the contract with Atlas, the transaction price of $ 1,779,000 is allocated as follows: (i) $1,196,000 was allocated to the Phase 2 study using the cost-plus margin approach based on the price quoted by a third party contract research organization, and (ii) $583,000 was allocated to the Patent sale using the Residual method. Revenue recognition For the contract with Atlas, control of the Patent Rights transferred to Atlas on the date of sale (at a point-in-time); and with the Phase 2 study, the services will be transferred to Atlas over the estimated 13.2 months of the study, which is set to run between October 2020 and November 2021. However, due to the full constraint on the $1,500,000 variable consideration, all revenue was deferred at inception of the transaction and as of June 30, 2020. When the Company is able to conclude that it is probable that it will initiate the Phase 2 study on or before January 15, 2021, the upfront payment of $1,500,000 will no longer be variable, nor constrained, and at which point the Company can immediately recognize the $583,000 allocated to the Patent Rights and in turn can start to recognize revenue from the Phase 2 services. Disaggregation of Patent Sales and Clinical Trial Services Patent Rights Sale Patent Rights sales are recognized when control of the Patent Rights are transferred to the purchaser (at a point-in-time). Due to the full constraint on the variable consideration of $1,500,000, there was no revenue recognized from the sale of Patent Rights to Atlas for the three and six months ended June 30, 2020 and 2019, respectively. Clinical Trials Revenue from clinical trials are recognized over time, as the services are performed, as the Company's performance enhances the Patent Rights asset that Atlas controls. The Phase 2 study to be performed under the Atlas License is expected to begin in October 2020 and run through November 2021. The expected first patient dose in the study is expected to occur in December 2020, at which point revenue from the Phase 2 study can begin to be recognized. Due to the Phase 2 study having not begun and the full constraint on the variable consideration of $1,500,000, for the three and six months ended June 30, 2020 and 2019, there was no revenue recognized from the Phase 2 services. Collaboration Revenue On September 24, 2018, the Company entered into a Distribution, License and Supply Agreement (“License Agreement”) with Knight Therapeutics ("Knight"). The License Agreement has a term of 15 years (with automatic renewals) and provides Knight with an exclusive right to commercialize current and future Jaguar human health products (including Crofelemer, Lechlemer, and any product containing a proanthocyanidin or with an anti-secretory mechanism) in Canada and Israel. In addition, Knight was granted a right of first negotiation for expansion to Latin America. Under the License Agreement, Knight is responsible for applying for and obtaining necessary regulatory approvals in the territory of Canada and Israel, as well as marketing, sales and distribution of the licensed products. Knight will pay a transfer price for all licensed products, and upon achievement of certain regulatory and sales milestones, Jaguar may receive payments from Knight in an aggregate amount of up to approximately $18 million payable throughout the initial 15-year term of the agreement. The Company did not have any Modifications to equity-classified instruments In the six months ending June 30, 2020, the Company modified certain equity-classified warrants (see Note 8). It is the Company’s policy to determine the impact of modifications to equity-classified warrants by analogy to the share-based compensation guidance of ASC 718, Compensation - Stock Compensation (“ASC 718”). The model for a modified share-based payment award that is classified as equity and remains classified in equity after the modification is addressed in ASC 718-20-35-3. Pursuant to that guidance, the incremental fair value from the modification is recognized as an expense in the statements of operations to the extent the modified instrument has a higher fair value; however, in certain circumstances, such as when an entire class of warrants are modified, the measured increase in fair value may be more appropriately recorded as a deemed dividend, depending upon the nature of the warrant modification. In the six months ending June 30, 2020, the Company modified the terms of its Series B convertible preferred stock, and Series 1, 2 and Bridge warrants (see Note 9). For amendments to preferred stock, it is the Company’s policy to measure the impact by analogy to ASC 470-50 in determining if such an amendment is an extinguishment or a modification. If the amendment results in an extinguishment, the Company follows the SEC staff guidance in ASC 260-10-S99-2 and ASC 470-20. If the amendment results in a modification, the Company follows the model in either ASC 718 or ASC 470-50, depending on the nature of the amendment. Stock-Based Compensation The Company's 2014 Stock Incentive Plan (see Note 11) provides for the grant of stock options, restricted stock and restricted stock unit awards. The Company measures stock awards granted to employees, non-employees and directors at fair value on the date of grant and recognizes the corresponding compensation expense of the awards, net of estimated forfeiture over the requisite service periods, which correspond to the vesting periods of the awards. The Company issues stock awards with only service-based vesting conditions, and records compensation expense for these awards using the straight-line method. The Company uses the grant date fair market value of its common stock to determine the grant date fair value of options granted to employees, non-employees and directors. Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized. Comprehensive Loss For all periods presented, the comprehensive loss was equal to the net loss; therefore, a separate statement of comprehensive loss is not included in the accompanying unaudited condensed consolidated financial statements. Recent Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. The primary focus of the standard is to improve the effectiveness of the disclosure requirements for fair value measurements. The changes affect all companies that are required to include fair value measurement disclosures. The standard requires the use of the prospective method of transition for disclosures related to changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop fair value measurements categorized within Level 3 of the fair value hierarchy, and narrative description of measurement uncertainty. All other amendments in the standard are required to be adopted retrospectively. We adopted the standard on January 1, 2020. Adoption of this standard did not have a material effect on the Company’s unaudited condensed consolidated financial statements and related disclosures. In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction Between Topic 808 and Topic 606. ASU 2018-18 provides guidance on how to assess whether certain transactions between collaborative arrangement participants should be accounted for within the revenue recognition standard. The standard also provides more comparability in the presentation of revenue for certain transactions between collaborative arrangement participants. The standard is to be applied retrospectively to the date of the initial application of Topic 606 which also requires recognition of the cumulative effect of applying the amendments as an adjustment to the opening balance of retained earnings of the later or the earliest annual period presented and the annual period inclusive of the initial application of Topic 606. We adopted the standard on January 1, 2020. Adoption of this standard did not have a material effect on the Company’s unaudited condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. The standard also removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The pronouncement is effective for the Company beginning January 1, 2021 with early adoption permitted. The Company is still evaluating the impact of the adoption of this standard.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Measurements
Fair Value Measurements	3. Fair Value Measurements ASC 820 “Fair Value Measurements,” defines fair value, establishes a framework for measuring fair value under generally accepted accounting principles and enhances disclosures about fair value measurements. Fair value is defined under ASC 820 as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value under ASC 820 must maximize the use of observable inputs and minimize the use of unobservable inputs. The standard describes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following: · Level 1— Observable inputs such as quoted prices (unadjusted) for identical instruments in active markets. · Level 2— Observable inputs such as quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model derived valuations whose significant inputs are observable. · Level 3— Unobservable inputs that reflect the reporting entity’s own assumptions. The following tables set forth the fair value of the Company’s financial instruments that were measured at fair value on a recurring basis as of June 30, 2020 and December 31, 2019. June 30, 2020 (unaudited) (in thousands) Level 1 Level 2 Level 3 Total Warrant liability $ — $ — $ $ Total fair value $ — $ — $ $ December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Warrant liability $ — $ — $ $ Total fair value $ — $ — $ $ The change in the estimated fair value of Level 3 liabilities is summarized below: Six Months Ended June 30, 2020 Warrant Liability (in thousands) (unaudited) Beginning fair value of Level 3 liability $ Additions Change in fair value Ending fair value of Level 3 liability $ Warrant Liability The warrants associated with the Level 3 warrant liability were the November 2016 Series A warrants, the October 2018 Underwriter warrants and the May 2020 Series 3 warrants, which, at June 30, 2020, were valued at $1, $1,566 and $4,084,478 respectively, in the Company’s unaudited condensed consolidated balance sheets. The warrants associated with the Level 3 warrant liability activity for the year ended December 31, 2019 were the November 2016 Series A warrants, the October 2018 Underwriter warrants, the March 2019 LOC warrants and the Bridge warrants, which at December 31, 2019 were valued at $10, $3,482, zero and zero, respectively in the Company’s consolidated balance sheets. The Series A Warrants The Series A warrant valuation of $1 at June 30, 2020 was computed using the Black-Scholes-Merton pricing model using a stock price of $0.49, a strike price of $787.50 per share, an expected term of 1.90 years, volatility of 141% and a risk-free discount rate of 0.16%. The Series A warrant valuation of $10 at December 31, 2019 was computed using the Black-Scholes-Merton pricing model using a stock price of $0.65, a strike price of $787.50 per share, an expected term of 2.41 years, volatility of 143.41% and a risk-free discount rate of 1.62%. The net decrease in the fair value of the warrants of $2 and $9 for the three and six months ended June 30, 2020, respectively, was recorded as a gain in the change in fair value of financial instruments in the condensed consolidated statements of operations. The October 2018 Underwriter Warrants The October 2018 Underwriter Warrants valuation of $1,566 at June 30, 2020 was computed using the Black-Scholes-Merton pricing model using a stock price of $0.49, a strike price of $52.50 per share, an expected term of 3.30 years, volatility of 141% and a risk-free discount rate of 0.18%. The October 2018 Underwriter Warrants valuation of $3,482 at December 31, 2019 was computed using the Black-Scholes-Merton pricing model using a stock price of $0.65, a strike price of $52.50 per share, an expected term of 3.76 years, volatility of 143.41% and a risk-free discount rate of 1.69%. The net decrease in the fair value of the warrants of $530 and $735 for the three and six months ended June 30, 2020, respectively, was recorded as a gain in the change in fair value of financial instruments in the condensed consolidated statements of operations. The May 2020 Series 3 Warrants The May 2020 Series 3 Warrants valuation of $4,084,478 at June 30, 2020 was computed using the Black-Scholes-Merton pricing model using a stock price of $0.49, a strike price of $0.05 per share, an expected term of 5.39 years, volatility of 141% and a risk-free discount rate of 0.29%. The May 2020 Series 3 Warrants valuation of $3,695,723 at issuance on May 22, 2020 was computed using the Black-Scholes-Merton pricing model using a stock price of $0.44, a strike price of $0.05 per share, an expected term of 5.50 years, volatility of 143% and a risk-free discount rate of 0.34%. The net increase in the fair value of the warrants of $386,755 for the three and six months ended June 30, 2020 was recorded as a loss in the change in fair value of financial instruments in the condensed consolidated statements of operations.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2020
Balance Sheet Components
Balance Sheet Components	4. Balance Sheet Components Inventory Inventory at June 30, 2020 and December 31, 2019 consisted of the following: June 30, December 31, (in thousands) 2020 2019 (unaudited) Raw Material $ $ Work in Process Finished Goods Inventory $ $ Property and Equipment Property and equipment at June 30, 2020 and December 31, 2019 consisted of the following: June 30, December 31, (in thousands) 2020 2019 (unaudited) Land $ $ Lab equipment Clinical equipment Software Total property and equipment at cost Accumulated depreciation (245) (225) Property and equipment, net $ $ Depreciation expense was $10,000 and $20,000 in the three and six months ended June 30, 2020. Depreciation expense was $15,000 and $30,000 for the three and six months ended June 30, 2019, respectively. Intangible Assets Intangible assets at June 30, 2020 and December 31, 2019 consisted of the following: June 30, December 31, (in thousands) 2020 2019 (unaudited) Developed technology $ $ Accumulated developed technology amortization (4,861) (4,028) Developed technology, net In-process research and development Impairment — (4,000) In process research and development, net Trademarks Accumulated trademark amortization (58) (48) Trademarks, net Total intangible assets, net $ $ In June 2019, the Company determined that in-process research and development was impaired and recorded an impairment loss of $4,000,000 in the statements of operations for the three and six months ended June 30, 2019. Amortization expense was $422,000 and $843,000 for the three and six months ended June 30, 2020 and 2019.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions
Related Party Transactions	5. Related Party Transactions Management Services Agreement In March 2018, concurrent with the issuance of the Company’s Series A convertible participating preferred stock to Sagard Capital Partners, L.P. (“Sagard Capital”), the Company entered into a Management Services Agreement with Sagard Capital. Under the agreement, Sagard Capital will provide consulting and management advisory service to the Company from March 2018 through March 2021. These services include assistance with strategic planning regarding the Company’s commercial strategy, research and due diligence regarding human resource activities, and strategic advice in financial matters. In consideration for such services, the Company will pay Sagard Capital an annual fee of $450,000, with total fees over the term of the agreement not to exceed $1,350,000. For the six months ended June 30, 2020, total fees incurred were $225,000. As of June 30, 2020, the Company had a balance due of $1,013,000. Letter of Credit In August 2018, to satisfy a letter of credit requirement in the Company’s office lease agreement (see Note 6), Pacific Capital Management, LLC, one of the Company’s existing shareholders, caused its financial institution to issue a On March 24, 2020, the Company entered into a letter of credit agreement with Dr. Conte, the brother of Lisa Conte, the Company’s President, CEO and member of the Company’s board of directors, pursuant to which the Company will, subject to Pacific Capital Management, LLC’s consent, replace the existing letter of credit in the amount of $475,000 entered into on August 28, 2018 by the Company with Pacific Capital Management, LLC to satisfy the letter of credit requirement in the Company’s office lease agreement with a new letter of credit in the amount of $475,000. In consideration of the new letter of credit, the Company will pay Dr. Conte an amount equal to $10,000 per month and reimburse up to $7,500 for reasonable out-of-pocket expenses incurred. The letter of credit will expire no earlier than December 31, 2020, provided, however that the Company, at no additional cost, may replace it on an earlier date. 2019 Bridge Notes Between March 18, 2019 and June 26, 2019, three members of the Board of Directors of the Company entered into short-term Promissory Note Purchase Agreements (see Note 7, the “2019 Bridge Notes”) with the Company: (i) Lisa Conte, the Company’s CEO & President, purchased a short-term Promissory Note of $100,000 which the Company settled in July 2019. In consideration for the short-term financing, the Company issued Ms. Conte a warrant that became exercisable into 37,500 shares of the Company’s common stock; (ii) James Bochnowski, purchased a short-term Promissory Note of $350,000 which the Company settled in July 2019. In consideration for the short-term financing, the Company issued Mr. Bochnowski a warrant that became exercisable into 218,750 shares of the Company’s common stock; and (iii) Jonathan Siegel DBA JBS Healthcare Ventures, purchased a short-term Promissory Note of $75,000 which the Company settled in July 2019. In consideration for the short-term financing, the Company issued Mr. Siegel a warrant that became exercisable into 34,375 shares of the Company’s common stock. In addition, Sagard Capital purchased a short-term Promissory Note of $500,000, which the Company settled in July 2019. In consideration for the short-term financing, the Company issued Sagard Capital a warrant that became exercisable into 187,500 shares of the Company’s common stock; and Jonathan Glaser, an existing shareholder, purchased short-term Promissory Notes of $500,000 which the Company settled in July 2019. In consideration for the short-term financing, the Company issued Mr. Glaser warrants that became exercisable into 250,000 shares of the Company’s common stock.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies
Commitments and Contingencies	6. Commitments and Contingencies Commitments Leases On August 28, 2018, the Company entered into an office lease extension agreement for approximately 6,311 square feet of office space in San Francisco, CA. The term of the Lease began on September 1, 2018 and will expire on September 30, 2020, unless earlier terminated in accordance therewith. The monthly base rent under the Lease is as follows: $38,000 for the first twelve months, $40,000 for the subsequent twelve months, and $41,000 for the final month. The Company will also pay an additional monthly amount for the Company’s proportionate share of the building’s operating charges. An existing shareholder provided a standby letter of credit in the amount of $475,000 to the Lessor as collateral for the full performance by the Company of all of its obligations under the Lease. In consideration of the Letter of Credit, the Company issued the shareholder a five-year warrant (see Note 8) to purchase 9,580 shares of the Company’s voting common stock. The $494,000 fair value of the Warrant was classified in stockholders’ equity with an offset to deferred rent. With the Company’s adoption of ASC 842 on January 1, 2019, the offset to the deferred balance was classified as a right-of-use asset. Each month, $20,000 of this rent will be recognized as non-cash lease expense. In December 2018, the Company did not meet a covenant per the terms of the $475,000 Letter of Credit, the result of which required the Company to issue a Letter of Credit of $122,000 to the shareholder who issued the original $475,000 letter of credit. In March 2019, the Company canceled the $122,000 letter of credit in lieu of issuing the shareholder a promissory note for that amount in April 2019, as well as issuing the shareholder a warrant (see Note 8). The Company recognizes rent expense on a straight-line basis over the non-cancelable lease period. Rent expense was $191,000 and $382,000 for the three and six months ended June 30, 2020, respectively, and $230,000 and $402,000 for the three and six months ended June 30, 2019, respectively. Rent expense is included in general and administrative expenses in the condensed consolidated statements of operations. Future minimum lease payments under the non-cancelable operating leases as of June 30, 2020, and through to the end of the lease in September 2020 are $119,000. Angel Pond Agreement In October 2019, the Company engaged Angel Pond Capital LLC to explore potential licensing agreements and collaborations for Mytesi in China. In consideration of these services, the Company compensated Angel Pond Capital LLC with $140,000, paid via the issuance of 166,667 shares of the Company’s common stock, for the initial four-month term of the agreement. The Company had the option to extend the agreement term for two months for $30,000 payable in shares of the Company’s common stock. As of June 30, 2020, no qualifying amounts were raised in China and no amounts are owed to Angel Pond as compensation. The Company did not extend the agreement with Angel Pond Capital LLC and it has expired. Asset transfer and transition commitment On September 25, 2017, Napo entered into the Termination, Asset Transfer and Transition Agreement dated September 22, 2017 with Glenmark Pharmaceuticals Ltd. (“Glenmark”). As a result of the agreement, Napo now controls commercial rights for Mytesi for all indications, territories and patient populations globally, and also holds commercial rights to the existing regulatory approvals for crofelemer in Brazil, Ecuador, Zimbabwe and Botswana. In exchange, Napo agrees to pay Glenmark 25% of any payment it receives from a third party to whom Napo grants a license or sublicense or with whom Napo partners in respect of, or sells or otherwise transfers any of the transferred assets, subject to certain exclusions, until Glenmark has received a total of $7.0 million. No payments have been made to date. Revenue sharing commitment On December 14, 2017, the Company announced its entry into a collaboration agreement with Seed Mena Businessmen Services LLC (“SEED”) for Equilevia™, the Company's non-prescription, personalized, premium product for total gut health in equine athletes. According to the terms of the Agreement, the Company will pay SEED 15% of total revenue generated from any clients or partners introduced to the Company by SEED in the form of fees, commissions, payments or revenue received by the Company or its business associates or partners, and the agreed-upon revenue percentage increases to 20% after the first million dollars of revenue. In return, SEED will provide the Company access to its existing United Arab Emirates (“UAE”) network and contacts and assist the Company with any legal or financial requirements. The agreement became effective on December 13, 2017 and will continue indefinitely until terminated by either party pursuant to the terms of the Agreement. No payments have been made to date. Legal Proceedings On July 20, 2017, a putative class action complaint was filed in the United States District Court, Northern District of California, Civil Action No. 3:17 cv 04102, by Tony Plant (the “Plaintiff”) on behalf of shareholders of the Company who held shares on April 12, 2017 and were entitled to vote at the 2017 Special Shareholders Meeting, against the Company and certain individuals who were directors as of the date of the vote (collectively, the “Defendants”), in a matter captioned Tony Plant v. Jaguar Animal Health, Inc., et al., making claims arising under Section 14(a) and Section 20(a) of the Exchange Act and Rule 14a 9, 17 C.F.R. § 240.14a 9, promulgated thereunder by the SEC. The claims alleged false and misleading information provided to investors in the Joint Proxy Statement/Prospectus on Form S-4 (File No. 333 217364) declared effective by the Commission on July 6, 2017 related to the solicitation of votes from shareholders to approve the merger and certain transactions related thereto. The Company accepted service of the complaint and summons on behalf of itself and the United States-based director Defendants on November 1, 2017. The Company has not accepted service on behalf of, and Plaintiff has not yet served, the non-U.S.-based director Defendants. On October 3, 2017, Plaintiff filed a motion seeking appointment as lead plaintiff and appointment of Monteverde & Associates PC as lead counsel. That motion was granted. Plaintiff filed an amended complaint against the Company and the United States based director Defendants on January 10, 2018. The Defendants filed a motion to dismiss on March 12, 2018, for which oral arguments were held on June 14, 2018. The court dismissed the amended complaint on September 20, 2018. Plaintiff was entitled to amend that complaint within 20 days from the date of dismissal. On October 10, 2018, Plaintiff filed a second amended complaint to focus on the Company’s commercial strategy in support of Equilevia and the related disclosure statements in the Form S-4 described above. On November 6, 2018, the Defendants moved to dismiss the second amended complaint. The Defendants argue in their motion that the second amended complaint fails to state a claim upon which relief can be granted because the omissions and misrepresentations alleged in the complaint are immaterial as a matter of law. The court denied the Defendants’ motion to dismiss on June 28, 2019. The Company answered the second amended complaint on August 2, 2019; the answer denied the material allegations of the second amended complaint. The parties are now engaged in discovery. If the Plaintiff were able to prove his allegations in this matter and to establish the damages he asserts, then an adverse ruling could have a material adverse impact on the Company. The Company believes that it is not probable that an asset has been impaired or a liability has been incurred as of the date of the financial statements and the amount of any potential loss is not reasonably estimable. Settlement of Underwriter Fee In August 2018, the Company entered into an agreement with an underwriter pursuant to which the underwriter would aid the Company in identifying certain financing transactions, in exchange for a percentage fee of any such financing and warrants. In the first quarter of 2020, the Company and the underwriter agreed on a final settlement for the underwriter services comprised of a cash payment, warrants and common stock. The cash payment amount totaled $386,560, of which $201,650 had been paid in September 2019, and $184,910 was accrued in March 2020 and was paid in April 2020. The total warrant issuance payment consisted of the Company issuing 1,096 equity-classified warrants to the underwriter in August 2018 and, in April 2020, issuing an additional 100,780 equity-classified warrants (see Note 8) to the underwriter to purchase shares of common stock at an exercise price of $2.50 per share. The common stock issuance payment consisted of the Company, in April 2020, issuing 100,000 shares of the Company’s common stock to the underwriter with a fair value of $44,900. The Company classified the cash payments, warrant and commons stock issuance payments as issuance costs in the unaudited condensed consolidated statements of changes in convertible preferred stock and stockholders’ equity. Contingencies From time to time, the Company may be involved in legal proceedings (other than those noted above) arising in the ordinary course of business. The Company believes there is no litigation pending that could have, individually or in the aggregate, a material adverse effect on the financial position, results of operations or cash flows.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt
Debt	7. Debt Convertible Debt December 2017 Note On June 29, 2017, the Company issued a secured convertible promissory note to Chicago Venture Partners, L.P.(“CVP”) in the aggregate principal amount of $2,155,000 less an original issue discount of $425,000 and less $30,000 to cover the lender's legal fees for net cash proceeds of $1,700,000 (the “June 2017 Note”). Interest on the outstanding balance will be paid 8% per annum from the purchase price date until the balance is paid in full. The Company computed fair values at the date of issuance of $15,000 and $5,000 for the repayment and the interest rate increase feature, respectively, using the Binomial Lattice Model, which was based on the generalized binomial option pricing formula. The $20,000 combined fair value was carved out and was included as a derivative liability on the Balance Sheet. At September 30, 2018, the derivatives were determined to have a de-minimis fair value and were written-off. On August 2, 2018, the Company and CVP agreed to an amendment extending the maturity date to August 26, 2019, and limiting the aggregate amount that CVP is permitted to redeem on a monthly basis to $500,000, which is the maximum aggregate redemption amount for all notes outstanding with CVP. This amendment resulted in the Company accounting for the transaction as a troubled debt restructuring, under which the carrying amount of the note payable remained unchanged but interest expense is computed using a new effective rate that equates the present value of the future cash payments specified by the new terms with the carrying amount of the note. Between October 2018 and December 2018, the Company and CVP renegotiated the terms of the June 2017 Note agreement such that CVP agreed not to make any redemptions of the June 2017 N-ote until March 2019. In consideration of this standstill arrangement, the Company paid CVP a total standstill fee of $499,403 for all four CVP Notes (collectively, the June 2017 CVP Note, The December 2017 CVP Note, the February 2018 Note and the March 2018 Note). The standstill fee allocated to the June 2017 Note was $63,296, of which $37,296 increased the principal balance and $26,000 was paid in cash. These restructurings in whole represented four separate restructurings of the June 2017 Convertible Note agreement, resulting in two troubled debt restructurings accounted for under ASC 470-60 and two modifications accounted for under ASC 470-50. For the two modifications resulting in troubled debt restructurings, the changes were accounted for prospectively and a new effective interest rate was determined that equated the present value of the future cash payments specified by the new terms with the carrying amount of the June 2017 Note. For the two modifications that resulted in modification accounting, a new effective rate was determined at the date of modification that equated the revised cash flows to the carrying amount of the Note. In May 2019, the Company and CVP amended the June 2017 Note agreement such that the Company made three separate exchanges of principal and related accrued interest for shares of the Company’s common stock. The first two exchanges of principal and accrued interest for common stock were not considered a substantial change to the June 2017 Note and therefore resulted in modification accounting and the determination of a new effective interest rate; the third exchange on May 29, 2019 resulted in the extinguishment of the entire June 2017 Note with a corresponding extinguishment loss of $7,566. At June 30, 2020 and December 31, 2019, the net carrying value of the June 2017 Note was zero. Napo Convertible Notes March 2017 Convertible Debt In March 2017, Napo entered into an exchangeable Note Purchase Agreement with two lenders for the funding of face amount of $1,312,500 in two $525,000 tranches of face amount $656,250. The notes bore interest at 3% and had an original maturity date of December 1, 2017. The Company assumed the notes at fair value of $1,312,500 as part of the Napo Merger. First Amendment to Note Purchase Agreement and Notes In December 2017, Napo amended the exchangeable note purchase agreement to extend the maturity of the first tranche and second tranche of notes to February 15, 2018 and April 1, 2018, respectively, increase the principal amount by 12%, and reduce the conversion price from $39.20 per share to $14.00 per share. The Company also issued 166,139 shares of common stock to the lenders in connection with this amendment to partially redeem $299,050 from the first tranche of the notes. The amended face value of the notes was $1,170,950. This amendment resulted in the Company treating the notes as having been extinguished and replaced with new notes for accounting purposes due to meeting the 10% cash flow test. The conversion option in the notes was bifurcated and accounted for as a conversion option liability at its fair value. Second Amendment to Note Purchase Agreement and Notes On February 16, 2018, Napo amended the exchangeable note purchase agreement to extend the maturity date of the Second Tranche Notes from April 1, 2018 to May 1, 2018. In addition, the Company also issued 3,603 shares of common stock to the Purchasers as repayment of the remaining $435,950 aggregate principal amount and $18,063 in accrued and unpaid interest thereon. On March 23, 2018, the Company paid off the remaining $735,000 of principal and $20,699 in interest due on the second tranche debt in cash with proceeds from the March 23, 2018 equity financing. The fair value of the conversion option liability was again revalued at March 23, 2018 using the Black-Scholes-Merton model using the following criteria: stock price of $14.70 per share, expected life of 0.11 years, volatility of 288.16%, risk-free rate of 1.69% and dividend rate of 0%, resulting in an increase of $174,754 to the fair value of the conversion option liability and included in the change in fair value of warrants and conversion option liability in the statements of operations. The underlying debt was paid off in March of 2018 and the $286,595 conversion option liability was written off to loss from operations in the unaudited condensed consolidated statements of operations. December 2016 Convertible Debt In December 2016, Napo entered into a note purchase agreement which provided for the sale of up to $12,500,000 face amount of notes and issued convertible promissory notes (the “Napo December 2016 Notes”) in the aggregate face amount of $2,500,000 to three lenders and received proceeds of $2,000,000 which resulted in $500,000 of original issue discount. In July 2017, Napo issued convertible promissory notes (the “Napo July 2017 Notes”) in the aggregate face amount of $7,500,000 to four lenders and received proceeds of $6,000,000 which resulted in $1,500,000 of original issue discount. The Napo December 2016 Notes and the Napo July 2017 Notes mature on December 30, 2019 and bear interest at 10% with interest due each six-month period after December 30, 2016. On June 30, 2017, the accrued interest of $125,338 was added to principal of the Napo December Notes, and the new principal balance became $2,625,338. Interest may be paid in cash or in the stock of Jaguar per terms of the note purchase agreement. In each one year period beginning December 30, 2016, up to one-third of the principal and accrued interest on the notes may be converted into the common stock of the merged entity at a conversion price of $64.75 per share. The Company assumed these convertible notes at fair value of $11,161,000 as part of the Napo Merger. The $1,035,661 difference between the fair value of the notes and the principal balance was being amortized over the twenty-nine (29) month period from July 31, 2017 to December 31, 2019. Interest expense is paid every nine months through the issuance of common stock. On March 16, 2018, $534,775 of interest accrued through January 31, 2018 and $169,950 of certain legal expenses were paid through the issuance of 4,081 shares of the Company's common stock. In August 2018, the Company paid $479,808 of accrued interest through July 31, 2018 with the issuance of 4,582 shares of the Company’s common stock. In January 2019, $446,729 of accrued interest was paid through the issuance of 19,751 shares of the Company's common stock. Extinguishment and Exchange of the Napo Convertible Notes In May 2019, in a restructuring of the Notes, CVP acquired the Napo December 2016 and Napo July 2017 Notes, as well as all rights thereof, and immediately extinguished the two Notes; in their place, the Company issued to CVP a new note (“Exchange Note 1”). The collective carrying amount of the Napo December 2016 and Napo July 2017 Note immediately before the exchange was $10,375,326, or principal of $10,125,339 and unamortized premium of $249,987. The new Exchange Note 1 had an opening principal balance of 10,535,900, consisting of the $10,125,339 principal balance of the extinguished notes plus $410,562 in accrued but unpaid interest from the Napo December 2016 and Napo July 2017 Notes. At June 30, 2020 and December 31, 2019, the balance of the Napo December 2016 and Napo July 2017 Notes was zero. Concurrent with the restructuring, CVP also entered into security agreements with Jaguar (the “Jaguar Security Agreement”) and Napo (the “Napo Security Agreement”, and together with the Jaguar Security Agreement, the “Security Agreements”), pursuant to which CVP will receive (i) a security interest in substantially all of the Company’s assets as security for the Company’s obligations under Exchange Note 2 and (ii) a security interest in substantially all of Napo’s assets as security for Napo’s obligations under Exchange Note 1 and Exchange Note 2. Notwithstanding the foregoing, (a) the amount owing under Exchange Note 2 will not be considered part of the obligations secured by the Napo Security Agreement until such time as Jaguar receives permission from a third party and (b) the security interest granted under the Jaguar Security Agreement will be automatically terminated and released upon Jaguar’s receipt of a waiver from such third party. Notes Payable Notes payable at June 30, 2020 and December 31, 2019 consist of the following: June 30, December 31, (in thousands) 2020 2019 (unaudited) 2019 Exchange Note 1 2019 Exchange Note 2 Insurance Premium Financing — Tempesta Note Payable Royalty Interest — Oasis Secured Borrowing — Less: unamortized discount and debt issuance costs (182) — Note payable, net of discount $ $ Notes payable - non-current, net $ $ Notes payable - current, net $ $ December 2017 Note On December 8, 2017, the Company entered into a securities purchase agreement with CVP pursuant to which the Company issued a promissory note (the “December 2017 Note”) in the aggregate principal amount of $1,588,000 for an aggregate purchase price of $1,100,000. The December 2017 Note carried an original issue discount of $462,500, and the initial principal balance also included $25,000 to cover CVP’s transaction expenses. The Company used the proceeds for general corporate purposes. The December 2017 Note bore interest at the rate of 8% per annum and had an original maturity date of August 26, 2019. On August 2, 2018, the Company and CVP amended the December 2017 Note agreement, extending the maturity date from September 8, 2018 to August 26, 2019, and limiting the aggregate amount that CVP is permitted to redeem on a monthly basis to $500,000, which amount was the maximum aggregate amount for the Notes collectively. This amendment resulted in the Company accounting for the transaction as a troubled debt restructuring, under which the carrying amount of the note payable remained unchanged but interest expense was computed using a new effective rate that equates the present value of the future cash payments specified by the new terms with the carrying amount of the note. The principal balance of the note was included in notes payable in the current liabilities section of the condensed consolidated balance sheets. Between October 2018 and December 2018, the Company and CVP renegotiated the terms of the December 2017 Note agreement such that CVP agreed not to make any redemptions of the Note until March 2019. In consideration of this standstill arrangement, the Company paid CVP a total standstill fee of $499,000 for all four CVP Notes. The standstill fee allocated to the December 2017 Note was $142,000, of which $86,000 increased the principal balance and was paid in cash. These modifications in whole represented four separate restructurings of the December 2017 Note agreement, resulting in two troubled debt restructurings accounted for under ASC 470-60 and two modifications accounted for under ASC 470-50. For the two restructurings resulting in troubled debt restructurings, the changes were accounted for prospectively and a new effective interest rate was determined that equated the present value of the future cash payments specified by the new terms with the carrying amount of the Note. For the two modifications that resulted in modification accounting, a new effective rate was determined at the date of modification that equated the revised cash flows to the carrying amount of the Note. In March 2019, the Company and CVP amended the December 2017 Note agreement such that the Company prepaid principal and accrued interest of $811,000 and $179,000, respectively, in shares of the Company’s common stock. The exchange of debt for common stock was considered a substantial change to the Note and therefore the exchange resulted in extinguishment accounting and a corresponding extinguishment loss of $243,000. In April 2019, the Company and CVP amended the December 2017 Note agreement such that the Company made two separate exchanges of principal and related accrued interest for shares of the Company’s common stock. The first exchange resulted in changes to cash flows that were considered substantial, resulting in extinguishment accounting with an extinguishment loss of $100,148; the second exchange on April 17, 2019 resulted in the extinguishment of the entire December 2017 Note with a corresponding extinguishment loss of $19,494. At June 30, 2020 and December 31, 2019, the net carrying value of the December 2017 Note was zero. February 2018 Note On February 26, 2018, the Company entered into a securities purchase agreement with CVP, pursuant to which the Company issued to CVP a promissory note in the aggregate principal amount of $2,241,000 for an aggregate purchase price of $1,560,000. The Note carried an original issue discount of $656,000, and the initial principal balance also included $25,000 to cover CVP's transaction expenses. The Company used the proceeds for general corporate purposes and working capital. The Note bore interest at the rate of 8% per annum and had an original maturity date of August 26, 2019. Between October 2018 and December 2018, the Company and CVP renegotiated the terms of the February 2018 Note agreement such that CVP agreed not to make any redemptions of the Note until March 2019. In consideration of this standstill arrangement, the Company paid CVP a total standstill fee of $499,000 for all four CVP Notes. The standstill fee allocated to the February 2018 Note was $199,000, of which $119,000 increased the principal balance and $80,000 was paid in cash. These modifications in whole represented four separate restructurings of the February 2018 Note agreement, resulting in a debt extinguishment accounted for under ASC 470-50, two troubled debt restructurings accounted for under ASC 470-60 and a debt modification accounted for under ASC 470-50. For the debt extinguishment, the Company recorded an extinguishment loss of $102,000. For the two troubled debt restructurings, the changes were accounted for prospectively and a new effective interest rate was determined that equated the present value of the future cash payments specified by the new terms with the carrying amount of the Note. For the modification that resulted in modification accounting, a new effective rate was determined at the date of modification that equated the revised cash flows to the carrying amount of the Note. In March 2019, the Company and CVP amended the February 2018 Note agreement such that the Company prepaid principal and accrued interest of $2,045,000 and $204,000, respectively, in shares of the Company’s common stock. The exchange of debt for common stock was considered a substantial change to the Note and therefore the exchange resulted in extinguishment accounting and a corresponding extinguishment loss of $488,000. In April 2019, the Company and CVP amended the February 2018 Note agreement such that the Company made a single exchange of principal and related accrued interest for shares of the Company’s common stock. The first exchange on April 16, 2019 resulted in the extinguishment of the entire February 2018 Note with a corresponding extinguishment loss of $37,740. At June 30, 2020 and December 31, 2019, the net carrying value of the February 2018 Note was zero. March 2018 Note On March 21, 2018, the Company entered into a securities purchase agreement with CVP, pursuant to which the Company issued to CVP a promissory note in the aggregate principal amount of $1,090,000 for an aggregate purchase price of $750,000. The Note carried an original issue discount of $315,000, and the initial principal balance also included $25,000 to cover CVP's transaction expenses. The Company used the proceeds to fully repay certain prior secured and unsecured indebtedness. The Note bore interest at the rate of 8% per annum and had an original maturity date of September 21, 2019. Between October 2018 and December 2018, the Company and CVP renegotiated the terms of the March 2018 Note agreement such that CVP agreed not to make any redemptions of the Note until March 2019. In consideration of this standstill arrangement, the Company paid CVP a total standstill fee of $499,000 for all four CVP Notes. The standstill fee allocated to the March 2018 Note was $96,000, of which $58,000 increased the principal balance and $38,000 was paid in cash. These modifications in whole represented four separate restructurings of the March 2018 Note agreement, resulting in a debt extinguishment accounted for under ASC 470-50, two troubled debt restructurings accounted for under ASC 470-60, and a debt modification accounted for under ASC 470-50. For the debt extinguishment, the Company recorded an extinguishment loss of $224,000. For the two troubled debt restructurings, the changes were accounted for prospectively and a new effective interest rate was determined that equated the present value of the future cash payments specified by the new terms with the carrying amount of the Note. For the modification that resulted in modification accounting, a new effective rate was determined at the date of modification that equated the revised cash flows to the carrying amount of the Note Between January 2019 and March 2019, the Company and CVP amended the March 2018 Note agreement such that the Company prepaid principal and accrued interest of $1,050,000 and $86,000, respectively, in shares of the Company’s common stock. These exchanges in whole represented four separate prepayments of principal and accrued interest, resulting in a three debt extinguishments and one debt modification. For the debt extinguishments, the Company recorded an aggregate extinguishment loss of $1,211,000. For the modification, a new effective rate was determined at the date of modification that equated the revised cash flows to the carrying amount of the Note. At December 31, 2019, the March 2018 Note had been fully extinguished. 2019 Exchange Notes In May 2019, the Company and CVP entered into an Exchange Agreement whereby CVP purchased the two outstanding Napo convertible notes and all rights thereof from the current debt holders. Subject to the terms of the Exchange Agreement, CVP and the Company agreed to exchange the two Napo convertible notes for a single CVP Note (“CVP Exchange Note 1”). At the Exchange date, the principal balance of the two Napo convertible notes was $10,125,000, or $10,536,000 inclusive of accrued but unpaid interest of $411,000. The beginning principal balance of CVP Exchange Note 1 was $10,536,000, or equal to the principal balance of the two Napo convertible notes and accrued interest thereon. The maturity date of CVP Exchange Note 1 was December 31, 2020, with an interest rate of 10%. Per the terms of the Exchange Agreement, CVP agreed to extend the maturity date of CVP Exchange Note 1 from December 31, 2019 (the same maturity date carried over from the two Napo convertible notes ) to December 31, 2020; in consideration of this extension, the Company issued CVP Exchange Note 2 with a principal balance of $2,297,000. The maturity date of CVP Exchange Note 2 is December 31, 2020, with an interest rate of 10%. Between May 2019 and July 2019, the Company and CVP entered into note exchange agreements pursuant to which the Company made prepayments of principal and related accrued interest of $6,154,000 and $90,000, respectively, in lieu of making cash payments to CVP on Exchange Note 1, by issuing 1,119,440 shares of the Company’s common stock to CVP. At June 30, 2020 and December 31, 2019, the net carrying value of Exchange Note 1 and Exchange Note 2 was $4,381,000 and $2,297,000, respectively, or an aggregate principal balance of $6,678,000. 2019 Tempesta Note In October 2019, the Company entered into a License Termination and Settlement Agreement with Dr. Michael Tempesta, pursuant to which certain royalty payment disputes between Napo and Tempesta were settled. Per the terms of the Agreement, Tempesta received $50,000 in cash, an unsecured promissory note issued by the Company in the aggregate principal amount of $550,000 and 40,000 shares of the Company’s common stock in exchange for the cessation of all royalty payments by Napo to Dr. Tempesta under the License Agreements. The $550,000 promissory note bears interest at the rate of 2.5% per annum and matures on March 1, 2025. The promissory note provides for the Company to make semi-annual payments equal to $50,000 plus accrued interest beginning on March 1, 2020 until the Note is paid in full. At June 30, 2020, the net carrying value of the Tempesta note was $500,000. Sale of Future Royalty Interest In March 2020, the Company entered into a royalty interest purchase agreement (the “Purchase Agreement”) with Iliad Research and Trading, L.P. (“Iliad”), pursuant to which the Company sold to Iliad a royalty interest entitling Iliad to receive $500,000 of future royalties on sales of Mytesi and certain up-front license fees and milestone payments from licensees and/or distributors (the “Royalty Repayment Amount”) for an aggregate purchase price of $350,000. Until such time as the Royalty Repayment Amount has been paid in full, the Company will pay Iliad ten percent (10%) of the Company’s Net Sales on Included Products and ten percent (10%) of worldwide revenues related to upfront licensing fees and milestone payments from licensees and/or distributors, but specifically excluding licensing fees and/or milestone payments that are reimbursements of clinical trial expenses ( the “Royalty Payments” ). Beginning on the six-month anniversary of the Purchase Price Date and continuing until the 12-month anniversary of the Purchase Price Date, the monthly Royalty Payment shall be the greater of (a) $25,000, and (b) the actual Royalty Payment amount Investor is entitled to for such month. Beginning on the 12-month anniversary of the Purchase Price Date and continuing until the Revenue Repayment Amount has been paid in full, the monthly Royalty Payment shall be the greater of (a) $43,750, and (b) the actual Royalty Payment amount Investor is entitled to for such month. The Royalty Interest amount of $500,000 (or $350,000 in cash received) is classified as debt, net of a $150,000 discount. Under ASC 470-10-35-3, royalty payments to Iliad will be amortized under the interest method per ASC 835-30. Because there is no set interest rate, and because the royalty payments are variable, the discount rate is variable. After each royalty payment, the Company will use a prospective method to determine a new discount rate based on the revised estimate of remaining cash flows. The new rate is the discount rate that equates the present value of the revised estimate of remaining cash flows with the carrying amount of the debt, and it will be used to recognize interest expense for the remaining periods. At issuance, based on projected cash outflows from future revenue streams, the discount rate was 105%. Oasis Secured Borrowing The Purchase Agreement In May 2020, the Company, entered into a one-year Accounts Receivable Purchase Agreement (the “Purchase Agreement”) with Oasis Capital (“Oasis”), pursuant to which Oasis may from time to time at its discretion purchase accounts receivable of the Company on a recourse basis, at a purchase price equal to 37.5% of the face amount of the first purchase, and at a purchase price equal to 42.5% for subsequent purchased accounts (“Purchase Price”). With respect to purchased accounts, in the event that Oasis receives more than an amount equal to the sum of (i) the face amount of such purchased account multiplied by 0.0545 and (ii) the Purchase Price (such amount, the “Threshold Price”) from collection on such purchased accounts, then Oasis will return any such excess overage amount (the “Overage”) to the Company, as applicable, within five days after Oasis’s receipt thereof. In the event Oasis does not receive at least the Threshold Price for a purchased account on or before such account becomes due and payable, the Company will, at Oasis’s election, be obligated to either (i) pay the difference between the Threshold Price and the amount received by Oasis for such account (the “Shortfall”) within 30 days thereof, (ii) assign or transfer to Oasis additional accounts receivable with a Purchase Price equal to (A) the Shortfall plus (B) an amount equal to 25% of the Shortfall (the “Additional Amount”). The initial term of the Purchase Agreement is one year, which will automatically renew for successive one-year periods unless notice of non-renewal is provided by the Company at least 30 days prior to the expiration of a term. Notwithstanding the foregoing, either Oasis or the Company may terminate the Purchase Agreement on 60 days’ prior written notice. Under the Purchase Agreement, Oasis is entitled to a transaction fee of $25,000 and may be entitled to additional transaction fees to the extent Oasis acquires additional accounts receivable under the Purchase Agreement, which fees will not exceed $5,000 per transaction. Per the Purchase Agreement, the Company will service and administer the purchased accounts receivable for Oasis. Oasis appointed the Company to be its agent and servicer for monitoring and collecting the Accounts Receivable subject to the terms of the Purchase Agreement. The Company will perform its duties in a commercially reasonable manner and agrees that Company will not commence any legal action with respect to such servicing and collection efforts and shall not terminate, discharge, discount or write off any accounts receivable without Oasis's prior written consent. The Company, having determined that it did not meet the criteria per ASC 860-10-40-5 to account for the transactions under the Purchase Agreement as sales, will account for such transactions as secured borrowings in accordance with ASC 860-30, “ Transfers – Secured Borrowings and Collateral .” May 2020 Oasis Secured Note - Tranche #1 In May 2020, for the first sale under the terms of the Purchase Agreement, the Company received cash proceeds of $1,007,000 from Oasis, or $1,032,000 less a $25,000 transaction fee (the “Tranche #1 Secured Note”). Oasis purchased accounts receivable with a carrying value of $1,673,627, or gross accounts receivable of $2,753,639 net of chargeback and discounts of $1,080,012. The purchase was effectuated pursuant to an Assignment Agreement, dated May 12, 2020, between the Company and Oasis. The Maturity Date, by which date Oasis must collect the $1,182,000 Threshold Price, is on or before July 10, 2020. The Company recorded the sale as a short-term secured borrowing with a principal amount of $1,007,000, or $1,182,000 net of a $175,000 discount. Though there was no stated interest rate, the effective interest rate was 147.89%. The Tranche #1 Secured Note had a maturity date of July 10, 2020, or earlier if the Threshold amount was received by Oasis prior to that date (payment of the Threshold amount was the maturity date). Accordingly, during the term of the Tranche #1 Secured Note, the effective interest rate was variable, dependent on the amount of any principal payment and payment dates. On June 30, 2020, the Company made its final required payment to Oasis under the Tranche #1 Secured Note, with total payments equaling the $1,182,000 Threshold amount, and the Tranche #1 Secured Note was extinguished. June 2020 Oasis Secured Note - Tranche #2 In June 2020, for its second sale under the terms of the Purchase Agreement, the Company received cash proceeds of $1,215,131 from Oasis (the “Tranche #2 Secured Note”). Oasis purchased accounts receivable with a carrying value of $1,737,745, or gross accounts receivable of $2,859,132 net of chargeback and discounts of $1,121,387. The purchase was effectuated pursuant to an amended Assignment Agreement, effective June 26, 2020, between Napo and Oasis. The Maturity Date, by which date Oasis must collect the $1,370,954 Threshold Price, was September 2, 2020. The Company recorded the sale to Oasis as a short-term secured borrowing with a principal amount of $1,215,131, or $1,370,954 net of a $155,823 discount. Though there was no stated interest rate, the effective interest rate at issuance was 77.73%. The Tranche #2 Secured Note had a maturity date of September 2, 2020, or earlier if the Threshold amount was received by Oasis prior to that date (payment of the Threshold amount is the maturity date). Accordingly, during the term of the Tranche #2 Secured Note, the effective interest rate is variable, dependent on the amount of any principal payment and payment dates. As of June 30, 2020, the Tranche #2 Secured Note had an outstanding balance of $1,215,131, or $1,370,954 net of a $145,473 discount, in the Company’s condensed consolidated balance sheet. Insurance Premium Financing In May 2020, the Company entered into a financing agreement for $873,000 for a portion of the Company’s annual insurance premiums. The balance is due in monthly installments over 9 months with an annual interest rate of 4.15% and the first installment of $97,000 was paid in June 2020. The financing balance was $776,000 as of June 30, 2020.

Warrants

Warrants	6 Months Ended
	Jun. 30, 2020
Warrants
Warrants	8. Warrants The following table summarizes information about warrants outstanding and exercisable into shares of the Company’s common stock for the six months ended June 30, 2020 and for the year ended December 31, 2019: June 30, 2020 December 31, 2019 (unaudited) Warrants outstanding, beginning balance 19,421,892 34,682 Issuances 8,771,632 20,637,761 Exercises (11,202,129) (1,250,000) Expirations and cancelations — (551) Warrants outstanding, ending balance 16,991,395 19,421,892 May 2020 Series 3 Warrants In May 2020, concurrent with the May 2020 modification of the exercise price of the Series 1, Series 2 and Bridge Warrants and inducement offer, the Company issued unregistered Series 3 warrants to purchase 8,670,852 shares of common stock. The Series 3 Warrants have an exercise price of $0.53 per share and are exercisable beginning the earlier of (i) six months from their May 22, 2020 issuance date and (ii) receipt of the requisite Stockholder Approval (defined below), and expire five years thereafter. In addition to the fixed settlement method at $0.53 per warrant share, the Series 3 Warrants have two contingent settlement methods: (i) if at the time of exercise there is no effective registration statement, then the holders of the 8,670,852 warrants may exercise the warrants in a “cashless exercise,” under which the holders will receive the aggregate warrants less the number of warrants equal to the exercise price; or (ii) a cashless exercise feature wherein, regardless if there is an effective registration agreement, following the requisite Stockholder Approval, each such Series 3 Warrant will be exercisable into one share of common stock for no consideration (a one-for-one exchange). See Note 14 for information about subsequent events. The Series 3 warrants were valued at $3,695,723 using the Black- Scholes option pricing model as follows: probability-weighted exercise price of $0.05 per share, stock price of $0.44 per share, expected life of 5.50 years, volatility of 141%, and a risk-free rate of 0.34%. The Series 3 warrants were classified as liabilities on the Company’s condensed consolidated balance sheets. The April 2020 Underwriter Warrants In April 2020, in consideration of the settlement of a dispute regarding underwriting fee’s (see Note 6), the Company issued warrants to purchase 100,780 shares of common stock at an exercise price of $2.50 per common share. The warrants were valued at $31,363 using the Black- Scholes option pricing model as follows: exercise price of $2.50 per share, stock price of $0.45 per share, expected life of 4.25 years, volatility of 141%, and a risk-free rate of 0.29%. The warrants were equity classified in the condensed consolidated statements of changes in convertible preferred stock and stockholders’ equity. March 2019 Ladenburg Warrants In March 2019, in consideration of services provided in the Company’s March 2019 public offering of 19,019 common shares, the Company issued to Ladenburg Thalmann & Co. warrants to purchase an aggregate of 761 shares of common stock at an exercise price of $17.50 per common share. The warrants were valued at $13,000 using the Black- Scholes option pricing model as follows: exercise price of $17.50 per share, stock price of $18.90 per share, expected life of five years, volatility of 146%, and a risk-free rate of 2.21%. The warrants were classified in stockholders’ equity. March 2019 LOC Warrant In March 2019, in consideration of a letter of credit cancelation related to the Company’s office lease, the Company issued a warrant to purchase warrant shares equal to a fixed principal amount divided by a variable exercise price. The warrants were initially classified as liabilities pursuant to ASC 480-10 due to their debt-like nature. On July 23, 2019, upon the exercise price of the warrants becoming fixed, the warrants became exercisable into 45,750 shares of the Company’s common stock and were reclassified to additional paid-in-capital with a fair value of $71,000. 2019 Bridge Note Warrants Between March 18, 2019 and June 26, 2019, concurrent to the Company entering into Promissory Notes of $5,050,000, the Company issued twenty-one warrants to purchase warrant shares equal to a fixed principal amount divided by a variable exercise price. The warrants for all twenty-one Bridge Notes were initially liability classified pursuant to ASC 480-10 due to their debt-like nature. On July 23, 2019, upon the exercise price of the warrants becoming fixed, the warrants became exercisable into 2,781,250 shares of the Company’s common stock and were reclassified to additional paid-in-capital with a fair value of $4,259,000. February 2020 Modification of Certain 2019 Bridge Note Warrants In February 2020, the Company entered into a warrant exercise agreement with a holder of its Bridge warrants, pursuant to which the holder agreed to exercise 250,000 Bridge warrants in consideration of the Company lowering the exercise price of the 250,000 warrants from $2.00 to $0.692. Upon exercise of the warrants, the Company received cash proceeds of $173,000 and in turn issued 250,000 common shares. It is the Company’s policy to determine the impact of modifications to equity-classified warrants by analogy to the share-based compensation guidance per ASC 718, Compensation – Stock Compensation . Pursuant to that guidance, and due to the modification being applicable only to a single holder of the Bridge warrants, the incremental increase of $9,000 in fair value of the modified warrants was recorded as an expense in the condensed consolidated statements of operations for the six months ended June 30, 2020. May 2020 Modification of the 2019 Bridge Note Warrants and Inducement Offer In May 2020, the Company reduced the exercise price of all outstanding 2019 Bridge Warrants from $2.00 per share to $0.49 per share. The Company determined the impact of this modification to be an increase in the fair value of the warrants of $165,716. Because the modification applied to the entire class of Bridge Warrant holders, the increase in fair value represented a deemed dividend to the entire class of Bridge Warrant holders. The modification did not result in the reclassification of the equity-classified Bridge warrants from additional paid-in-capital to liability classification. In May 2020, concurrent with the reduction of the exercise price of the Bridge Warrant, the Company entered into a warrant exercise inducement offer with certain holders of the Bridge Warrants, pursuant to which such holders agreed to exercise for cash Bridge Warrants to purchase 93,750 shares of common stock, in exchange for the Company’s issuing to the exercising holders new unregistered Series 3 warrants to purchase 93,750 shares of common stock. July 2019 Series 1 Warrants In July 2019, the Company entered into an underwriting agreement, relating to a public offering, which was comprised of (1) 2,886,500 Class A Units, priced at $2.00 per unit, with each unit consisting of (i) one share of the Company’s voting common stock, (ii) one Series 1 warrant to purchase one share of common stock, and (iii) one Series 2 warrant to purchase one share of common stock, and (2) 10,787 Class B Units, priced at a price of $1,000 per unit, with each unit consisting of (i) one share of Series B convertible preferred stock, convertible into 500 shares of common stock, (ii) 500 Series 1 Warrants and (iii) 500 Series 2 Warrants. The Series 1 Warrants had an exercise price of $2.00 and expire on the earlier of (a) 5 years from the date of issuance and (b) 30 calendar days following the public announcement of Positive Interim Results related to the diarrhea results from the HALT-D investigator initiated trial, if and only if certain trading benchmarks are achieved during such 30 calendar day period. In the offering, the Company sold (i) 2,886,500 Class A Units, which included Series 1 warrants to purchase 2,886,500 shares of the Company’s common stock and (ii) 10,787 Class B Units, which included Series 1 warrants to purchase 5,393,500 shares of the Company’s common stock. In total, 8,280,000 Series 1 warrants were issued, with an initial valuation of $5,025,000 computed using the Black-Scholes-Merton pricing model using a stock price of $1.73, a strike price of $2.00, an expected term of 5.0 years, volatility of 109.25% and a risk-free discount rate of 1.83%. Upon issuance, the Series 1 warrants were classified in additional paid-in-capital. September 2019 Modification of the July 2019 Series 1 Warrants In September 2019, the Company reduced the exercise price all 8,280,000 Series 1 Warrants from $2.00 to $1.40. The Company determined the impact of this modification to be an increase in the fair value of the warrants of $522,000. Because the modification applied to the entire class of Series 1 Warrant holders, the increase in fair value represented a deemed dividend to the entire class of Series 1 Warrant holders. The modification did not result in the reclassification of the equity-classified Series 1 warrants from additional paid-in-capital to liability classification. February 2020 Modification of the July 2019 Series 1 Warrants In February 2020, the Company entered into a warrant exercise agreement with a holder of its Series 1 Warrants, pursuant to which the holder agreed to exercise 208,022 Series 1 Warrants in consideration of the Company lowering the exercise price of the 208,022 warrants from $2.00 to $0.6920. Upon exercise of the warrants, the Company received cash proceeds of $144,000 and in turn issued 208,022 common shares. It is the Company’s policy to determine the impact of modifications to equity-classified warrants by analogy to share-based compensation guidance per ASC 718, Compensation – Stock Compensation . Pursuant to that guidance, and due to the modification being applicable only to a single holder of the Series 1 Warrants, the incremental increase of $6,413 in fair value of the modified warrants was recorded as an expense in the condensed consolidated statements of operations for the three months ended March 31, 2020. May 2020 Modification of the July 2019 Series 1 Warrants and Inducement Offer In May 2020, the Company reduced the exercise price of all outstanding Series 1 Warrants from $1.40 per share to $0.49 per share. The Company determined the impact of this modification to be an increase in the fair value of the warrants of $284,338. Because the modification applied to the entire class of Series 1 Warrant holders, the increase in fair value represented a deemed dividend to the entire class of Series 1 Warrant holders. The modification did not result in the reclassification of the equity-classified Series 1 Warrants from additional paid-in-capital to liability classification. In May 2020, concurrent with the reduction of the exercise price of the Series 1 Warrants, the Company entered into a warrant exercise inducement offer with certain holders of the Series 1 Warrants, pursuant to which such holders agreed to exercise for cash Series 1 Warrants to purchase 4,572,040 shares of common stock, in exchange for the Company’s issuing to the exercising holders new unregistered Series 3 warrants to purchase 4,572,040 shares of common stock. July 2019 Series 2 Warrants The Series 2 Warrants have an exercise price of $2.00 and expire on the first date on the earlier of (a) 5 years from the date of issuance and (b) 30 calendar days following the public announcement by the Company that a pivotal phase 3 clinical trial using crofelemer (Mytesi, or the same or similar product with a different name) for the treatment of cancer therapy-related diarrhea in humans has met its primary endpoint in accordance with the protocol, if and only if certain trading benchmarks are achieved during such 30 calendar day period. In addition, each Series 2 Warrant has an embedded call option that allows the Company to redeem any unexercised warrants if certain contingencies are met. In the July 2019 offering, the Company sold (i) 2,886,500 Class A Units, which included Series 2 warrants to purchase 2,886,500 shares of the Company’s common stock and (ii) 10,787 Class B Units, which included Series 2 warrants to purchase 5,393,500 shares of the Company’s common stock. In total, 8,280,000 Series 2 warrants were issued, with an initial valuation of $5,026,000 computed using the Black-Scholes-Merton pricing model using a stock price of $1.73, a strike price of $2.00, an expected term of 5.0 years, volatility of 109.25% and a risk-free discount rate of 1.83%. Upon issuance, the Series 2 Warrants were classified in additional paid-in-capital. March 5, 2020 Modification of the July 2019 Series 2 Warrants On March 5, 2020, the Company entered into a warrant exercise agreement with a holder of its Series 2 Warrants, pursuant to which the holder agreed to exercise 90,940 Series 2 Warrants in consideration of the Company lowering the exercise price of the 90,940 warrants from $2.00 to $0.6050. Upon exercise of the warrants, the Company received cash proceeds of $55,000 and in turn issued 90,940 common shares. It is the Company’s policy to determine the impact of modifications to equity-classified warrants by analogy to share-based compensation guidance per ASC 718, Compensation – Stock Compensation . Pursuant to that guidance, and due to the modification being applicable only to a single holder of the Series 2 Warrants, the incremental increase of $6,000 in fair value of the modified warrants was recorded as an expense in the condensed consolidated statements of operations for the six months ended June 30, 2020. March 23, 2020 Modification of the July 2019 Series 2 Warrants On March 23, 2020, the Company entered into a Warrant Exercise and Preferred Stock Amendment Agreement (see Note 9) with a holder of its Series 2 Warrants, pursuant to which the holder agreed to exercise in cash its Series 2 Warrants to purchase an aggregate of 1,250,000 shares of common stock, in consideration of the Company reducing the Series 2 Warrant exercise price from $2.00 to $0.5227 per share, for gross proceeds to the Company of approximately $653,000, or $628,000 net of $25,000 of issuance costs. The Company determined the impact of this modification to be an increase in the fair value of the warrants of $65,000. Because the modification applied to a sole holder of Series 2 Warrants, the $65,000 increase in fair value was recorded as an expense in the condensed consolidated statements of operations for the six months ended June 30, 2020. The modification did not result in the reclassification of the equity-classified Series 1 Warrants from additional paid-in-capital to liability classification, and as of March 31, 2020, all 8,280,000 Series 2 Warrants have been exercised. May 2020 Modification of the July 2019 Series 2 Warrants and Inducement Offer In May 2020, the Company reduced the exercise price of all outstanding Series 2 Warrants from $2.00 per share to $0.49 per share. The Company determined the impact of this modification to be an increase in the fair value of the warrants of $406,002. Because the modification applied to the entire class of Series 2 Warrant holders, the increase in fair value represented a deemed dividend to the entire class of Series 2 Warrant holders. The modification did not result in the reclassification of the equity-classified Series 2 Warrants from additional paid-in-capital to liability classification. In May 2020, concurrent with the reduction of the exercise price of the Series 2 Warrants, the Company entered into a warrant exercise inducement offer with certain holders of the Series 2 Warrants, pursuant to which such holders agreed to exercise for cash Series 2 Warrants to purchase 4,005,062 shares of common stock, in exchange for the Company’s issuing to the exercising holders new unregistered Series 3 warrants to purchase 4,005,062 shares of common stock. December 2019 PIPE Financing Warrants In December 2019, the Company entered into a securities purchase agreement with certain investors pursuant to which the Company, in a Private Placement, sold (i) an aggregate of 2,500,000 unregistered shares of the Company’s common stock, and (ii) Warrants to purchase up to an aggregate of approximately 1,250,000 shares of common stock, for an aggregate purchase price of $1,500,000 (see Note 10). The warrants have an exercise price of $0.78 per share and became exercisable on June 24, 2020 (6 months after their issuance date) and have a five-year term. The warrants were valued at $686,000 using the Black-Scholes option pricing model as follows: exercise price of $0.78 per share, stock price of $0.62 per share, expected life of five years, volatility of 143%, and a risk-free rate of 2.42%. As the common stock and warrants were issued in a unit structure, the aggregate proceeds of $1,500,000 were allocated to the two securities using the relative fair value method, resulting with the common stock and warrants being allocated $1,035,000 and $465,000, respectively. The warrants were classified in stockholders’ equity.

Convertible Preferred Stock

Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2020
Convertible Preferred Stock
Convertible Preferred Stock	9. Convertible Preferred Stock At June 30, 2020, convertible preferred stock consisted of the following: Liquidation ( in thousands, except share data) Shares Issued and Carrying Preference Series Authorized Outstanding Value per Share A 5,524,926 5,524,926 $ $ 1.665 B 11,000 — — — B-1 63 — — — B-2 10,165 7,534 — Non-designated 4,453,846 — — — Total 10,000,000 5,532,460 $ At December 31, 2019, convertible preferred stock consisted of the following: Liquidation ( in thousands, except share data) Shares Issued and Carrying Preference Series Authorized Outstanding Value per Share A 5,524,926 5,524,926 $ $ 1.665 B 11,000 1,971 — B-1 63 — — — B-2 10,165 10,165 — Non designated 4,453,846 — — — Total 10,000,000 5,537,062 $ Series A Redeemable Convertible Preferred Stock In March 2018, the Company entered into a stock purchase agreement with Sagard Capital pursuant to which the Company, in a private placement, agreed to issue and sell to Sagard Capital 5,524,926 shares of the Company's Series A convertible participating preferred stock, $0.0001 par value per share, for gross proceeds of $9,199,000, or $9,000,000 net of issuance costs. The preferred stock is convertible into approximately 473,565 shares of common stock at the option of the holder at an effective conversion price of $19.425 per share. Subject to certain limited exceptions, the shares of Preferred Stock could not be offered, pledged or sold by Sagard Capital for one year from the date of issuance. The conversion price is subject to certain adjustments in the event of any stock dividend, stock split, reverse stock split, combination or other similar recapitalization. Holders of the Series A shares are entitled to participate equally and ratably with the holders of shares of common stock in all dividends paid and distributions made to the holders of the common stock as if, immediately prior to each record date of the common stock, the shares of Series A then outstanding were converted into shares of common stock. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company or deemed liquidation event, the holders of Series A shares then outstanding shall be entitled to be paid in cash out of the assets of the Company before any payment shall be made to the holders of common stock or shares of any series or class of preferred or other capital stock then outstanding that by its terms is junior to the Series A in respect of the preferences as to distributions and payments upon such liquidation event by reason of their ownership, an amount per share of Series A equal to one times the Series A original issue price. The Series A convertible preferred shares are redeemable by Sagard Capital upon a Redemption Event that is not solely within the control of the Company. If a Redemption Event were to occur as of the Measurement Date (the later of April 30, 2021 and the date on which the Company files its Form 10‑Q for the three months ending March 31, 2021, but in no event later than September 30, 2021), the holders of at least a majority of the shares of Series A convertible preferred stock then outstanding may require the Company to redeem all Series A shares for cash at a per share purchase price equal to $2.3057. Any one of the following conditions can result in a Redemption Event: (i) revenue attributable to the Mytesi product for the six-month period ended March 31, 2021 is less than $22.0 million; (ii) the daily volume weighted average price (“VWAP”) of the Company's common stock on Nasdaq for the 30 days prior to a Measurement Date is less than $105.00; (iii) the Company fails to file with the SEC on or before June 30, 2021, its Form 10-Q for the three months ending March 31, 2021. During the three months ended December 31, 2019, the Company determined that a Redemption Event was probable as of July 1, 2019. The Company is accreting the carrying value to the redemption amount of $12,738,822. The redemption amount of the Series A convertible preferred stock is $12,738,822 as of June 30, 2020 and December 31, 2019. The carrying value of the Series A convertible preferred stock was $10,878,000 and $9,895,000 as of June 30, 2020 and December 31, 2019, respectively. In March 2019, the Company and Sagard Capital amended certain terms of the agreement, such that the effective conversion price was adjusted to $19.425 per share. The preferred stock has been classified outside of stockholders' equity in accordance with authoritative guidance for the classification and measurement of potentially redeemable securities at the option of the holder. Series B Convertible Preferred Stock In July 2019, the Company entered into an underwriting agreement relating to the public offering comprised of (1) 2,886,500 Class A Units, priced at a public offering price of $2.00 per unit, with each unit consisting of (i) one share of the Company’s voting common stock, (ii) one Series 1 warrant to purchase one share of common stock and (2) 10,787 Class B Units, priced at a public offering price of $1,000 per unit, with each Class B unit consisting of (i) one share of Series B convertible preferred stock with a stated value of $1,000 and convertible into 500 shares of common stock, (ii) 500 Series 1 Warrants and (iii) 500 Series 2 Warrants, at a public offering price of $1,000 per Class B Unit. The Company sold 10,787 Class B Units, comprised of 10,787 shares of Series B convertible preferred stock, Series 1 warrants to purchase 5,393,500 shares of common stock and Series 2 warrants to purchase 5,393,500 shares of common stock. The total gross proceeds to the Company from the offering of the Class B Units were $10,787,000, of which $4,240,000 was allocated to the Series B convertible preferred stock, $3,274,000 to the Series 1 Warrants and $3,274,000 to the Series 2 Warrants. Issuance costs of $1,635,000 were allocated to the Class B Units. Holders of the Series B shares are entitled to participate equally and ratably with the holders of shares of common stock in all dividends paid and distributions made to the holders of the common stock as if, immediately prior to each record date of the common stock, the shares of Series B then outstanding were converted into shares of common stock. With certain exceptions, the shares of Series B Convertible Preferred Stock have no voting rights. However, as long as any shares of Series B Convertible Preferred Stock remain outstanding, the Company shall not, without the affirmative vote of holders of a majority of the then outstanding shares of Series B Convertible Preferred Stock, (a) alter or change adversely the powers, preferences or rights given to the Series B Convertible Preferred Stock or alter or amend the Series B Certificate of Designation or (b) enter into any agreement with respect to any of the foregoing. Each share of Series B Convertible Preferred Stock is convertible at any time at the holder’s option into 500 shares of common stock, which conversion ratio will be subject to adjustment for stock splits, stock dividends, distributions, subdivisions and combinations and other similar transactions. On the July 23, 2019 issuance date, the effective conversion price per share was less than the fair value of the underlying common stock. As a result, the Company determined that there was a Beneficial Conversion Feature of $4,240,000. Because the Company's Series B Convertible Preferred Stock does not have a stated conversion date and was immediately convertible at the issuance date, the Company recorded a deemed dividend charge of $4,240,000 for the accretion of the discount on the Series B Convertible Preferred Stock. The preferred stock has been classified in stockholders' equity in accordance with authoritative guidance. During July and August 2019, certain investors converted 8,816 Series B convertible preferred shares into 4,408,000 shares of the Company’s common stock at the stated conversion ratio. There were zero and 1,971 shares of Series B Convertible Preferred Stock outstanding as of June 30, 2020 and December 31, 2019, respectively. In March 2020, the Company entered into a unaudited condensed consolidated statements of operations for the six months ended June 30, 2020. Series B-1 Convertible Preferred Stock In October 2019, the Company entered into a Warrant Exercise Agreement with the sole remaining holder of the Series B Convertible Preferred Stock (the “Exercising Holder”), who owned Series 1 Warrants exercisable for 1,250,000 shares of common stock. Pursuant to the terms of the Warrant Exercise Agreement, the Company had the right (a purchased put option) to require the Exercising Holder to exercise all or a portion of its Series 1 Warrants in accordance with the existing terms of the Series 1 Warrants, in exchange for the Company’s agreement to issue to the Exercising Holder a number of shares of the Company’s Series B-1 Convertible Preferred Stock, with a stated value of $12,000, in an amount equal to one Series B-1 Preferred Share for every 19,841 Series 1 Warrant Shares issued by the Company to the Exercising Holder. The purpose of the Company entering into the agreement was to enable the Company to monetize the remaining Series 1 Warrants. To the extent that all Series 1 Warrants held by the Exercising Holder were exercised at their $1.40 exercise price, the Company would receive aggregate gross proceeds of approximately $1,750,000 and, in turn, have issued 63 shares of Series B-1 Preferred Stock to the Exercising Holder. On October 3 and October 9, 2019, in two separate transactions, the Company exercised its purchased put option (see Note 3) to require the Exercising Holder to exercise all of its 1,250,000 Series 1 warrants (see Note 8), upon which the Company issued 1,250,000 common shares to the Exercising Holder in return for aggregate gross proceeds of $1,750,000. In consideration (the strike price) of the exercising the warrants, the Company issued 63 shares of Series B-1 Convertible Preferred Stock to the Exercising Holder. On the October 3, 2019 issuance date, the effective conversion price was less than the fair value of the underlying common stock. As a result, the Company determined that there was a Beneficial Conversion Feature of $146,000. Because the Company's Series B-1 Convertible Preferred Stock does not have a stated conversion date and was immediately convertible at the issuance date, the Company recorded a deemed dividend charge of $146,000 for the accretion of the discount on the Series B-1 Convertible Preferred Stock. On the October 9, 2019 issuance date, the effective conversion price was less than the fair value of the underlying common stock. As a result, the Company determined that there was a Beneficial Conversion Feature of $385,000. Because the Company's Series B-1 Preferred Stock does not have a stated conversion date and was immediately convertible at the issuance date, the Company recorded a deemed dividend charge of $385,000 for the accretion of the discount on the Series B-1 Preferred Stock. The Series B-1 Preferred Stock was classified in stockholders' equity in accordance with authoritative guidance. In December 2019, the sole investor in the Series B-1 Preferred Stock converted its entire holding of 63 shares of the Series B-1 Preferred Stock into 630,063 shares of the Company’s common shares at the stated conversion ratio. As of December 31, 2019, there were no shares of the Series B-1 Preferred Stock outstanding. Series B-2 Convertible Preferred Stock In December 2019, the Company entered into an exchange agreement with Oasis Capital, LLC (“Oasis Capital”), pursuant to which Oasis Capital gave up (i) its remaining unexercised Prepaid Forward contracts (see Note 10) exercisable for 1,236,223 shares of the Company’s common stock and (ii) 695,127 common shares held as an investment by Oasis Capital, in exchange for 10,165 shares of the Company’s newly authorized Series B-2 Convertible Preferred Stock. The holders of the Series B-2 Convertible Preferred Stock are entitled to receive dividends on shares of Series B-2 Convertible Preferred Stock equal (on an as-if-converted-to-Common-Stock basis) to and in the same form as dividends actually paid on shares of the common stock when, as and if such dividends are paid on shares of the common stock. No other dividends shall be paid on shares of the Series B-2 Convertible Preferred Stock. The shares of Series B-2 Convertible Preferred Stock have no voting rights. However, as long as any shares of Series B-2 Convertible Preferred Stock remain outstanding, the Company shall not, without the affirmative vote of holders of a majority of the then outstanding shares of Series B-2 Convertible Preferred Stock, (a) alter or change adversely the powers, preferences or rights given to the Series B-2 Convertible Preferred Stock or alter or amend the Series B-2 Certificate of Designation or (b) enter into any agreement with respect to any of the foregoing. Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, the holders of the Series B-2 Convertible Preferred Stock are entitled to receive out of the assets, whether capital or surplus, of the Company the same amount that a holder of common stock would receive if the Series B-2 Convertible Preferred Stock were fully converted to common stock which amounts shall be paid pari passu with all holders of common stock. Each share of Series B-2 Convertible Preferred Stock is convertible at any time at the holder’s option into 190 shares of common stock, as determined by dividing the $153.90 stated value of each Series B-2 Convertible Preferred Share by the $0.81 conversion price ($153.90 divided by 0.81 = 190 conversion ratio), and which conversion ratio is subject to adjustment for stock splits, stock dividends, distributions, subdivisions and combinations and other similar transactions as specified in the Series B-2 Certificate of Designation. The Series B-2 Convertible Preferred Stock was classified in stockholders' equity in accordance with authoritative guidance. In January 2020, a holder of the Series B-2 convertible preferred stock converted 2,631 preferred shares into 499,890 shares of common stock.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Stockholders' Equity
Stockholders' Equity	10. Stockholders' Equity Common Stock As of June 30, 2020 and December 31, 2019, the Company had reserved shares of common stock for issuance as follows: June 30, 2020 December 31, (unaudited) 2019 Options issued and outstanding 4,455,101 3,902,675 Inducement options issued and outstanding 3,392 74 Options available for grant under stock option plans 710,299 479,829 Restricted stock unit awards issued and outstanding 5,613 5,613 Warrants issued and outstanding 16,991,395 19,421,892 Series A convertible preferred stock 473,565 473,565 Series B convertible preferred stock — 985,500 Series B-2 convertible preferred stock 1,431,460 1,931,350 Total 24,070,825 27,200,498 The holders of common stock are entitled to one vote for each share of common stock held. The common stockholders are also entitled to receive dividends whenever funds and assets are legally available and when declared by the Board of directors. The holders of non-voting common stock are not entitled to vote, except on an as converted basis with respect to any change of control of the Company that is submitted to the stockholders of the Company for approval. Shares of the Company's non-voting common stock have the same rights to dividends and other distributions and are convertible into shares of the Company's common stock on a 1,050-for-one basis upon transfers to non-affiliates of Nantucket ("former creditor of Napo"), upon the release from escrow of certain non-voting shares held by the former creditors of Napo to the legacy stockholders of Napo under specified conditions and at any time on or after April 1, 2018 at the option of the respective holders thereof. The Company is authorized to issue a total number of 210,000,000 shares, of which 150,000,000 shares are common stock, 50,000,000 are non-voting common stock and 10,000,000 are preferred stock. Reverse stock-splits On June 3, 2019, the Company filed the Certificate of Fifth Amendment to its Third Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a 1-for-70 reverse stock split of the Company’s issued and outstanding shares of voting common stock, effective June 7, 2019. The reverse split has been retroactively reflected in all voting common stock, warrants, and common stock option shares disclosed in these unaudited condensed consolidated financial statements. The non-voting common stock and the convertible preferred stock were excluded from the reverse split. Transactions with Oasis Capital January 2019 SPA On January 7, 2019, Jaguar entered into a common stock purchase agreement with Oasis Capital, relating to an offering of an aggregate of up to 76,190 shares of common stock via an equity line of credit. Under the terms of the purchase agreement, the Company has the right to "put," or sell, up to 76,190 shares of common stock to Oasis Capital for an amount equal to the product of (i) the number of shares set forth on the applicable put notice (minus the deposit and clearing fees associated with such purchase) and (ii) a fixed price of $52.50 per share or such other price agreed upon between the Company and Oasis Capital. Jaguar had the option to increase the equity line of credit by an additional 114,286 shares of common stock by notifying Oasis Capital at any time after the effective date of the purchase agreement. In March 2019, Jaguar exercised this option. As of March 31, 2019, the Company had sold all of the 76,190 shares of common stock of the equity line and all 114,286 shares of common stock from the option to Oasis Capital, or a total of 190,476 shares. March 2019 SPA In March 2019, Jaguar entered into a securities purchase agreement with Oasis Capital pursuant to which Jaguar agreed to issue and sell, in a registered public offering by Jaguar directly to Oasis, an aggregate of 19,019 shares of common stock at an offering price of $14.00 for gross proceeds of approximately $266,000. Between March 24, 2019, the date of the March CSPA, and March 31, 2020, the Company sold an aggregate of 19,019 shares of common stock pursuant to the CSPA for aggregate gross proceeds of approximately $266,000. March 2020 ELOC (Equity Line of Credit) In March 2020, the Company entered into an equity purchase agreement (the “March 2020 ELOC”) with Oasis Capital, which provides that Oasis Capital is committed to purchase up to an aggregate of $2.0 million shares of the Company’s common stock over the 36-month term of the March 2020 ELOC. Pursuant to the terms and conditions of the March 2020 ELOC, on any trading day selected by the Company (such date the “Put Date”), after the SEC has declared effective the registration statement registering the sale of the shares of common stock that may be issued to Oasis Capital under the March 2020 ELOC, the Company has the right, in its sole discretion, to present to Oasis Capital with a purchase notice (each a “Put Notice”), directing Oasis Capital to purchase up to the lesser of (i) 200,000 shares of common stock or (ii) 20% of the average trading volume of common stock in the 10 trading days immediately preceding the date of such Put Notice, at a per share price equal to $0.436 (each an “Option 1 Put”), provided that the aggregate of all Option 1 Puts and Option 2 Puts (described below) does not exceed $2.0 million. In addition, on any date on which Oasis Capital receives shares of common stock in connection with a Put Notice (the “Clearing Date”), the Company also has the right, in its sole discretion, to present to Oasis Capital with a Put Notice (each an “Option 2 Put”) directing Oasis Capital to purchase an amount of common stock equal to the lesser of (i) such amount that equals 10% of the daily trading volume of the common stock on the date of such Put Notice and (ii) $200,000, provided that the aggregate amount of the Option 1 Put and Option 2 Put on any Put Date or Clearing Date does not exceed $500,000 and the aggregate amount of all Option 1 Puts and Option 2 Puts does not exceed $2.0 million. The purchase price per share pursuant to such Option 2 Put is equal to $0.436. The Threshold Price (defined later) and the Purchase Price will be adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction occurring during the period used to compute the Threshold Price or the Purchase Price. On April 15, 2020, the SEC declared effective the registration statement registering the sale of the shares of common stock issued to Oasis Capital under the March 2020 ELOC. The Company will control the timing and amount of sales of common stock to Oasis Capital. Oasis Capital has no right to require any sales by the Company but is obligated to make purchases from the Company as directed by the Company in accordance with the March 2020 ELOC. In connection with the equity line, the Company agreed to pay Oasis Capital a commitment fee and in April 2020, in settlement of the commitment fee, the Company issued to Oasis Capital 68,807 shares of common stock. At issuance, the 68,807 shares of common stock had a fair value of $33,027, and were expensed as an issuance cost in the Company’s condensed consolidated statements of operations. Per the terms of the equity purchase agreement, the Option Put 1 and Option Put 2 may be exercised only at a price that is always above the trading price of the underlying common stock at the exercise date, thereby rendering any exercise by the Company being out-of-the-money. At inception of the equity line on March 24, 2020, the Put Options were classified as derivative assets with a fair value of zero, and upon an effective registration statement on April 15, 2020, were reclassified to stockholders’ equity with a fair value of zero. In April 2020, the Company exercised a single Put Option Put 1 under which the Company sold 52,000 common shares to Oasis for gross proceeds of $22,627. As of June 30, 2020, the Company had not exercised any further put options to require Oasis Capital to purchase common stock under the equity purchase agreement. March 2020 PIPE Financing In March 2020, Company entered into a securities purchase agreement (the “PIPE Purchase Agreement”) with certain investors, pursuant to which the Company agreed to issue and sell to the Investors in a private placement an aggregate of 1,714,283 shares of the Company’s common stock, for an aggregate purchase price of approximately $720,000, or $668,578 net of $51,422 of issuance costs.

Stock Incentive Plans

Stock Incentive Plans	6 Months Ended
	Jun. 30, 2020
Stock Incentive Plans
Stock Incentive Plans	11. Stock Incentive Plans 2013 Equity Incentive Plan Effective November 1, 2013, the Company's board of directors and sole stockholder adopted the Jaguar Health, Inc. 2013 Equity Incentive Plan (the “2013 Plan”). The 2013 Plan allows the Company's board of directors to grant stock options, restricted stock awards and restricted stock unit awards to employees, officers, directors and consultants of the Company. Following the effective date of the IPO and after effectiveness of any grants under the 2013 Plan that were contingent on the IPO, no additional stock awards will be granted under the 2013 Plan. Outstanding grants continue to be exercisable; however, any unissued shares under the plan and any forfeitures of outstanding options do not rollover to the 2014 Stock Incentive Plan. As of June 30, 2020, there were 384 options outstanding. 2014 Stock Incentive Plan Effective May 12, 2015, the Company adopted the Jaguar Health, Inc. 2014 Stock Incentive Plan (“2014 Plan”). The 2014 Plan provides for the grant of options, restricted stock and restricted stock units to eligible employees, directors and consultants to purchase the Company's common stock. The 2014 Plan that provides for automatic share increases on the first day of each fiscal year in the amount of 2% of the outstanding number of shares of the Company's common stock on last day of the preceding calendar year. The 2014 Plan replaced the 2013 Plan except that all outstanding options under the 2013 Plan remain outstanding until exercised, canceled or expired. As of June 30, 2020, there were 4,455,101 options outstanding and 213,617 options available for grant. 2020 New Employee Inducement Award Plan Effective June 16, 2020, the Company adopted the Jaguar Health, Inc. New Employee Inducement Award Plan (“2020 Inducement Award Plan”) and, subject to the adjustment provisions of the Inducement Award Plan, reserved 500,000 shares of the Company’s common stock for issuance pursuant to equity awards granted under the Inducement Award Plan. The 2020 Inducement Award Plan provides for the grant of nonstatutory stock options, restricted stock units, restricted stock, and performance shares. The 2020 Inducement Award Plan was adopted without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules. The terms and conditions of the 2020 Inducement Award Plan are substantially similar to the Company’s 2014 Stock Incentive Plan, but with such other terms and conditions intended to comply with the Nasdaq inducement award rules. In accordance with Rule 5635(c)(4) of the Nasdaq Listing Rules, the only persons eligible to receive grants of equity awards under the Inducement Award Plan are individuals who were not previously an employee or director of the Company, or following a bona fide period of non-employment, as an inducement material to such persons entering into employment with the Company. As of June 30, 2020, there were 3,318 options outstanding and 496,682 options available for grant. Stock Options and Restricted Stock Units (“RSUs”) The following table summarizes incentive plan activity for the six months ended June 30, 2020 ( unaudited ): Weighted Weighted Average Shares Stock Average Remaining Aggregate Available Options RSUs Stock Option Contractual Life Intrinsic (in thousands, except share and per share data) for Grant Outstanding Outstanding Exercise Price (Years) Value* Outstanding at December 31, 2019 479,829 3,902,675 5,613 $ 5.20 9.56 $ — Additional shares authorized 786,229 — — — — — Options granted (853,318) 853,318 — 0.45 — — Options canceled 297,559 (297,559) — 3.75 — — Options canceled not rolled back into the 2013 Plan — (15) — — — — Outstanding at June 30, 2020 710,299 4,458,419 5,613 $ 4.39 9.12 $ Exercisable at June 30, 2020 1,549,977 $ 9.31 8.85 $ — Vested and expected to vest at June 30, 2020 4,030,402 $ 4.71 9.10 $ * The intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair market value of the Company's common stock for options that were in-the-money. No options were exercised in the six months ended June 30, 2020. The weighted average grant date fair value of stock options granted was $0.41 and $17.05 per share during the six months ended June 30, 2020 and 2019, respectively. The number of options that vested in the six months ended June 30, 2020 and 2019 was 702,364 and 10,598, respectively. The grant date weighted average fair value of options that vested in the six months ended June 30, 2020 and 2019 was $2.21 and $132.26, respectively. Stock-Based Compensation The following table summarizes stock-based compensation expense related to stock options, inducement stock options and RSUs for the three and six months ended June 30, 2020 and 2019, and are included in the condensed consolidated statements of operations as follows: Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 (in thousands) (unaudited) (unaudited) Research and development expense $ $ $ $ Sales and marketing expense General and administrative expense Total $ $ $ $ As of June 30, 2020, the Company had $3,693,000 of unrecognized stock-based compensation expense for options, inducement options and restricted stock units outstanding, which is expected to be recognized over a weighted-average period of 1.64 years. The estimated grant-date fair value of stock option grants for the six months ended June 30, 2020 and 2019 was calculated using the Black-Scholes - Merton option-pricing model using the following weighted-average assumptions: Six Months Ended June 30, 2020 2019 (unaudited) Weighted-average volatility 150.1 - 172.4 % 108.3 - 108.5 % Weighted-average expected term (years) 5.0 5.8 Risk-free interest rate 0.3 - 0.5 % 2.5 - 2.6 % Expected dividend yield — — 401(k) Plan The Company sponsors a 401(k) defined contribution plan covering all employees. There were no employer contributions to the plan from plan inception through June 30, 2020 .

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2020
Net Loss Per Share
Net Loss Per Share	12. Net Loss Per Share The following table presents the calculation of basic and diluted net loss per share of common stock for the periods indicated: Three Months Ended Six Months Ended June 30, June 30, (In thousands, except share and per share data) 2020 2019 2020 2019 (unaudited) (unaudited) Net loss attributable to common shareholders (basic and diluted) $ (10,597) $ (16,721) $ (19,013) $ (25,025) Shares used to compute net loss per common share, basic and diluted 23,890,931 1,106,374 19,516,419 801,482 Net loss per share attributable to common shareholders, basic and diluted $ (0.44) $ (15.11) $ (0.97) $ (31.22) Basic net loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common shares and common share equivalents outstanding for the period. Common stock equivalents are only included when their effect is dilutive. The Company's potentially dilutive securities which include stock options, convertible preferred stock and common stock warrants have been excluded from the computation of diluted net loss per share as they would be anti-dilutive. For all periods presented, there is no difference in the number of shares used to compute basic and diluted shares outstanding due to the Company's net loss position. The following outstanding common stock equivalents have been excluded from diluted net loss per common share for the three and six months ended June 30, 2020 and 2019 because their inclusion would be anti-dilutive. June 30, 2020 2019 (unaudited) Options issued and outstanding 4,455,101 39,481 Inducement options issued and outstanding 3,392 906 Restricted stock units issued and outstanding 5,613 5,613 Warrants issued and outstanding 16,991,395 1,237,871 Series A convertible preferred stock 473,565 473,565 Series B convertible preferred stock — — Series B-2 convertible preferred stock 1,431,460 — Total 23,360,526 1,757,436

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Information
Segment Information	13. Segment Information The Company has two reportable segments-human health and animal health. The animal health segment is focused on developing and commercializing prescription and non-prescription products for companion and production animals. The human health segment is focused on developing and commercializing of human products and the ongoing commercialization of Mytesi, which is approved by the U.S. FDA for the symptomatic relief of non-infectious diarrhea in adults with HIV/AIDS on antiretroviral therapy. The Company's reportable segments net revenues and net loss for the three and six months ended June 30, 2020 and 2019 consisted of: Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2020 2019 2020 2019 (unaudited) (unaudited) Revenue from external customers Human Health $ $ $ $ Animal Health Consolidated Totals $ $ $ $ Segment net loss Human Health $ (1,609) $ (9,838) $ (4,809) $ (12,631) Animal Health (7,629) (6,883) (12,365) (12,394) Consolidated Totals $ (9,238) $ (16,721) $ (17,174) $ (25,025) The Company's reportable segments assets consisted of the following: June 30, December 31, (in thousands) 2020 2019 Segment assets (unaudited) Human Health $ $ Animal Health Total $ $ The reconciliation of segments assets to the consolidated assets is as follows: June 30, December 31, 2020 2019 (in thousands) (unaudited) Total assets for reportable segments $ $ Less: Investment in subsidiary (29,241) (29,241) Less: Intercompany loan (38,453) (34,950) Consolidated Totals $ $

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events
Subsequent Events	14. Subsequent Events Iliad Royalty Interest Purchase Agreement Amendment On July 10, 2020, the Company entered into an amendment to the Royalty Interest Purchase Agreement with Iliad pursuant to which the Company and Iliad agreed that no royalty payments or other payment will be due prior to December 10, 2020. In consideration for Iliad’s agreement to enter into the amendment, the balance of the Royalty Repayment Amount as of July 10, 2020 was increased by 10%. All other terms of the Royalty Interest Documents remain unchanged. Series 3 Warrant Holders Issued Cashless Exercise Settlement Method A Special Meeting of Stockholders was held on July 21, 2020, whereupon a proposal to approve the “Alternate Cashless Exercise” settlement method for the Series 3 warrants was approved. The Series 3 warrants and their underlying common shares were registered per the registration statement on Form S-3 on June 5, 2020. Amendment to the Company’s Third Amended and Restated Certificate of Incorporation A Special Meeting of Stockholders was held on July 21, 2020, whereupon the proposal to approve an amendment to the Company’s Third Amended and Restated Certificate of Incorporation, as amended, to decrease the number of authorized shares of common stock to 130,000,000 shares, was approved by the stockholders.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and on a basis consistent with the annual consolidated financial statements, and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair presentation of the periods presented. These interim financial results are not necessarily indicative of the results to be expected for the year ending December 31, 2020, or for any other future annual or interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Annual Report on Form 10-K for the year ended December 31, 2019. The unaudited condensed consolidated balance sheet at December 31, 2019 has been derived from the audited consolidated financial statements at that date, but does not include all disclosures, including notes, required by GAAP for complete financial statements. There has been no material change to the Company's significant accounting policies during the three and six months June 30, 2020, as compared to the significant accounting policies described in Note 2 of the “Notes to Consolidated Financial Statements” in the Company's Annual Report on Form 10-K for the year ended December 31, 2019. Except as noted above, the unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to present fairly the financial position as of June 30, 2020, results of operations for the six months ended June 30, 2020 and 2019, changes in convertible preferred stock and stockholders' equity for the three and six months ended June 30, 2020 and 2019, and cash flows for the six months ended June 30, 2020 and 2019. The interim results are not necessarily indicative of the results for any future interim periods or for the entire year.
Principles of Consolidation	Principles of Consolidation The unaudited interim condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) and include the accounts of the Company and its wholly-owned subsidiary. All inter-company transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires the Company’s management to make judgments, assumptions and estimates that affect the amounts reported in its unaudited condensed consolidated financial statements and the accompanying notes. The accounting policies that reflect the Company’s more significant estimates and judgments and that the Company believes are the most critical to aid in fully understanding and evaluating its reported financial results are valuation of stock options, valuation of warrant liabilities, acquired in-process research and development (“IPR&D"), and useful lives assigned to long-lived assets; valuation adjustments for excess and obsolete inventory; allowance for doubtful accounts; deferred taxes and valuation allowances on deferred tax assets; evaluation and measurement of contingencies; and recognition of revenue, including estimates for product returns. Those estimates could change, and as a result, actual results could differ materially from those estimates. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat COVID-19, as well as the economic impact on local, regional, national and international customers, markets and economies.
Cash and Restricted Cash	Cash and Restricted Cash Our cash on deposit may exceed United States federally insured limits at certain times during the year. We maintain cash accounts with certain major financial institutions in the United States. Restricted cash represents cash not available to us for immediate and general use.
Accounts Receivable	Accounts Receivable Accounts receivable is recorded net of allowances for chargebacks and discounts for prompt payment and credit losses. The Company estimates an allowance for credit losses by considering factors such as historical experience, credit quality, the age of the accounts receivable balances, and current economic conditions that may affect a customer’s ability to pay. The corresponding expense for the credit loss allowance is reflected in general and administrative expenses. The credit loss allowance was immaterial as of June 30, 2020.
Concentrations	Concentrations Cash is the financial instrument that potentially subjects the Company to a concentration of credit risk as cash is deposited with a bank and cash balances are generally in excess of Federal Deposit Insurance Corporation insurance limits. For the three and six months ended June 30, 2020 and 2019, substantially all of the Company’s revenue has been derived from the sale of Mytesi. For the three and six months ended June 30, 2020, the Company earned Mytesi revenue primarily from one pharmaceutical distributor in the United States. Revenue earned from each as a percentage of total net revenue is as follows: Three Months Ended Six Months Ended June 30, June 30, (unaudited) (unaudited) 2020 2019 2020 2019 Customer 1 100 % 100 % 99 % 89 % The Company is subject to credit risk from its accounts receivable related to its sales. The Company generally does not perform evaluations of customers' financial condition and generally does not require collateral. The Company's significant pharmaceutical distributors and their related accounts receivable balance as a percentage of total accounts receivable were as follows: June 30, 2020 December 31, (unaudited) 2019 Customer 1 100 % 99 % No other customer represented more than 10% of the Company's accounts receivable balances as of those dates. The Company is subject to concentration risk from its suppliers. The Company sources raw material used to produce the active pharmaceutical ingredient in Mytesi from two suppliers and is dependent on single third-party contract manufacturers, both for the supply of the active pharmaceutical ingredient in Mytesi, as well as for the supply of finished products for commercialization.
Fair Value	Fair Value The Company’s financial instruments include accounts receivable, accounts payable, accrued expenses, warrant liabilities, derivative assets and liabilities, equity-linked financial instruments and debt. The recorded carrying amount of accounts receivable, accounts payable and accrued expenses reflect their fair value due to their short-term nature. The carrying value of the interest-bearing debt approximates fair value based upon the borrowing rates currently available to the Company for bank loans with similar terms and maturities. See Note 3 for the fair value measurements.
Inventory	Inventory Inventory is stated at the lower of cost or net realizable value. Cost is initially recorded at invoiced amount of raw materials or active pharmaceutical ingredient, including the sum of qualified expenditures and charges in bringing the inventory to its existing condition and location. The Company calculates inventory valuation adjustments when conditions indicate that net realizable value is less than cost due to physical deterioration, usage, obsolescence, reductions in estimated future demand or reduction in selling price. Inventory write-downs are measured as the difference between the cost of inventory and net realizable value.
Land ,Property and Equipment	Land, Property and Equipment Land is stated at cost, reflecting fair value of the property at July 31, 2017, the date of the Napo merger. Equipment is stated at cost, net of accumulated depreciation. Equipment begins to be depreciated when it is placed into service. Depreciation is calculated using the straight-line method over estimated useful lives ranging between 3 to 10 years. Expenditures for repairs and maintenance of assets are charged to expense as incurred. Costs of major additions and betterments are capitalized and depreciated on a straight-line basis over their estimated useful lives. Upon retirement or sale, the cost and related accumulated depreciation of assets disposed of are removed from the accounts and any resulting gain or loss is included in the condensed consolidated statements of operations.
Long-Lived Assets	Long-Lived Assets The Company regularly reviews the carrying value and estimated lives of all of its long-lived assets, including property and equipment to determine whether indicators of impairment may exist that warrant adjustments to carrying values or estimated useful lives. The determinants used for this evaluation include management’s estimate of the asset’s ability to generate positive income from operations and positive cash flow in future periods as well as the strategic significance of the assets to the Company’s business objectives. Definite-lived intangible assets are amortized on a straight-line basis over the estimated useful lives of intangible assets and are reviewed when appropriate for possible impairment.
Indefinite-lived Intangible Assets	Indefinite-lived Intangible Assets Acquired in-process research and development (“IPR&D”) are intangible assets acquired in the July 2017 Napo merger. Under ASC 805, IPR&D are initially recognized at fair value and classified as indefinite-lived assets until the successful completion or abandonment of the associated research and development efforts. During the development period, these assets will not be amortized as charges to earnings; instead these assets will be tested for impairment on an annual basis or more frequently if impairment indicators are identified. An impairment loss is measured based on the excess of the carrying amount over the asset’s fair value. There were no impairment charges recorded in the three and six months ended June 30, 2020 . The Company recorded an impairment of $4,000,000 in the three and six months ended June 30, 2019.
Leases	Leases ASC 842, Leases, requires lessees to recognize right-of-use assets and lease liabilities for all leases with a term of greater than 12 months regardless of their classification on the balance sheet and to provide expanded disclosures about leasing arrangements. The Company adopted ASC 842 on January 1, 2019 using the optional transition method with no restatements of comparative periods. There was no effect on accumulated deficit at adoption. The Company elected to adopt the package of practical expedients to (i) not reassess whether expired or existing contracts are or contain leases, (ii) not reassess the lease classification for any expired or existing leases and (iii) not reassess the accounting for initial direct costs. The adoption of the new leases standard resulted in the following adjustments to the consolidated balance sheet as of January 1, 2019: (in thousands) December 31, 2018 Adoption Impact January 1, 2019 Operating lease right-of-use assets $ — $ $ Operating leases liabilities, current portion — Operating leases liabilities, long term — Deferred rent (380) — At the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. Because the interest rate implicit in lease contracts is typically not readily determinable, the Company utilizes its incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term, an amount equal to the lease payments in a similar economic environment. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received. Operating Lease The Company has a non-cancelable operating lease with CA-Mission Street Limited Partnership for its offices in San Francisco, California through September 30, 2020. The lease agreement calls for monthly base rents between $38,000 and $41,000 over the term of the lease. The Company has engaged a realtor to assist us in relocating to new office space starting on or near the termination of the current lease with CA-Mission Street Limited Partnership.
Research and Development Expense	Research and Development Expense Research and development expense consist of expenses incurred in performing research and development activities including related salaries, clinical trials and related drug and non-drug product costs, contract services and other outside service expenses. Research and development expense is charged to operating expense in the period incurred.
Revenue Recognition	Revenue Recognition The Company recognizes revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Practical Expedients, Elections, and Exemptions The Company recognizes revenue in accordance with the core principle of ASC 606 or when there is a transfer of control of promised goods or services to customers in an amount that reflects the consideration that the Company expects to be entitled to in exchange for those goods or services. The Company also elected a practical expedient available under ASC 606‑10‑32‑18 that permits it to not adjust the amount of consideration for the effects of a significant financing component if, at contract inception, the expected period between the transfer of promised goods or services and customer payment is one year or less. The Company has elected to treat shipping and handling activities as fulfillment costs. Additionally, the Company elected to record revenue net of sales and other similar taxes. Contracts - Cardinal Health Effective January 16, 2019, Napo engaged Cardinal Health as its exclusive third party logistics distribution agent for commercial sales for the Company’s Mytesi product and to perform certain other services which include, without limitation, storage, distribution, returns, customer support, financial support, Electronic Data Interchange (“EDI”) and system access support (the “Exclusive Distribution Agreement”) . In addition to the terms and conditions of the Exclusive Distribution Agreement, Cardinal Health’s purchase of products, and assumption of title therein, is set forth in the Title Model Addendum. The Title Model Addendum states that upon receipt of product at the 3PL Facility (Cardinal Health in La Vergne, Tennessee) from the Company, title and risk of loss for the Mytesi product purchased by Cardinal Health (excluding consigned inventory) shall pass to Cardinal Health, and title and risk of loss for consigned inventory shall remain with the Company until purchased by Cardinal Health in accordance with the Title Model Addendum. Napo considers Cardinal Health the Company’s exclusive customer for Mytesi products per the Exclusive Distribution Agreement. Jaguar's Neonorm and botanical extract products are primarily sold to distributors, who then sell the products to the end customers. Since 2014, the Company has entered into several distribution agreements with established distributors such as Animart, Vedco, VPI, RJ Matthews, Henry Schein, and Stockmen Supply to distribute the Company's products in the United States, Japan, and China. The distribution agreements and the related purchase order together meet the contract existence criteria under ASC 606‑10‑25‑1. Jaguar sells directly to its customers without the use of an agent. Performance obligations For animal products sold by Jaguar Health, the single performance obligation identified above is the Company’s promise to transfer the Company’s animal products to distributors based on specified payment and shipping terms in the arrangement. Product warranties are assurance type warranties that do not represent a performance obligation. For the Company’s human product, Mytesi, which is sold by Napo, the single performance obligation identified above is the Company’s promise to transfer Mytesi to Cardinal Health, the Company’s exclusive distributor for the product, based on specified payment and shipping terms as outlined in the Exclusive Distribution Agreement. Transaction price For contracts with Cardinal Health, for both Jaguar and Napo, the transaction price is the amount of consideration to which the Company expects to collect in exchange for transferring the promised goods or services to a customer. The transaction price of Mytesi and Neonorm is the Wholesaler Acquisition Cost (“WAC”), net of discounts, returns, and price adjustments. Allocate transaction price For contracts with Cardinal Health, for both Napo and Jaguar, the entire transaction price is allocated to the single performance obligation contained in each contract. Revenue recognition For contracts with Cardinal Health, for both Napo and Jaguar, a single performance obligation is satisfied at a point in time, upon the free on board (“FOB”) terms of each contract when control, including title and all risks, has transferred to the customer. Disaggregation of Product Revenue Human Sales of Mytesi are recognized as revenue when the products are delivered to the wholesaler. Net revenues from the sale of Mytesi were $ Animal The Company recognized Neonorm revenues of $ Contracts - Atlas Sciences Effective April 15, 2020 (the “Effective Date”), the Company entered into a patent purchase agreement with Atlas Sciences, LLC (“Atlas”), pursuant to which Atlas agreed to purchase certain patents and patent applications relating to the Napo’s NP-500 drug product candidate (the “Patent Rights”) for an upfront cash payment of $1,500,000. Concurrent with the Patent Rights sale, the Company entered into a license agreement with Atlas (the “License Agreement”), pursuant to which Atlas granted the Company an exclusive 10-year license to use the Patent Rights and improvements thereon to develop and commercialize NP-500 in all territories worldwide except Greater China (i.e., China, Hong Kong, Taiwan and Macau), inclusive of the right to sublicense NP-500 development and commercialization rights (“the License”). Except for the License retained by the Company, Atlas retains all rights, title and interest in and to the Patent Rights, including all improvements and enhancements to the Patent Rights made or created by the Company under the License Agreement or made or created by or on behalf of Atlas during the term of the License Agreement. Included in the arrangement with Atlas, the Company is obligated to initiate a proof of concept Phase 2 study of NP-500 under an investigational new drug (“IND”) application with the U.S. Food and Drug Administration or an IND-equivalent dossier under appropriate regulatory authorities (the “Phase 2 study”) within nine months of April 15, 2020. If the Company fails to initiate the Phase 2 study by this date, for any reason, including the timely receipt of adequate funding to initiate the Phase 2 study, the Company will incur a trial delay fee equal to $2,515,000 (the “Trial Delay Fee”), which amount is payable beginning on the nine-month anniversary of the Effective Date and continuing until the payment in full of the Trial Delay Fee, in an amount equal to: (a) from the nine- month anniversary of the Effective Date until the fifteenth-month anniversary of the Effective Date, $200,000; and (b) from the fifteenth -month anniversary of the Effective Date until payment in full of the Trial Delay Fee, $350,000. Atlas has the right to terminate the License in the event that the Company (i) fails to complete the Phase 2 study within five years of April 15, 2020 or (ii) has not timely initiated the Phase 2 study and thereafter fails to make three or more consecutive Trial Delay Payments. Performance obligations The Patent Rights sale to Atlas and the Phase 2 study to be performed by the Company, identified above, represent a single transaction with two separate performance obligations; with the sale of the Patent Rights, the Company transferred control of the internally generated Patent Rights to Atlas at the date of sale; and with the Phase 2 study, the services will be transferred to Atlas over an estimated 13.2 months. Transaction price For the contract with Atlas, the upfront payment of $1,500,000 from Atlas as consideration for the Patent Rights sale and the Phase 2 study, is variable consideration that is fully constrained due to the potential incurrence of a Trial Delay Fee of $2,515,000 if the Phase 2 study had not been initiated by January 15, 2021. The Company’s method was the most likely amount. The Company fully constrained the value of the variable consideration based on inherent uncertainty of timing of clinical trials. In addition, due to the estimated 13.2-month term over which the Company will perform the Phase 2 study, the upfront payment resulted in a significant financing component of $279,000. Accordingly, at inception, the total transaction price of $1,779,000 is deferred and the transaction price is zero. Allocate transaction price For the contract with Atlas, the transaction price of $ 1,779,000 is allocated as follows: (i) $1,196,000 was allocated to the Phase 2 study using the cost-plus margin approach based on the price quoted by a third party contract research organization, and (ii) $583,000 was allocated to the Patent sale using the Residual method. Revenue recognition For the contract with Atlas, control of the Patent Rights transferred to Atlas on the date of sale (at a point-in-time); and with the Phase 2 study, the services will be transferred to Atlas over the estimated 13.2 months of the study, which is set to run between October 2020 and November 2021. However, due to the full constraint on the $1,500,000 variable consideration, all revenue was deferred at inception of the transaction and as of June 30, 2020. When the Company is able to conclude that it is probable that it will initiate the Phase 2 study on or before January 15, 2021, the upfront payment of $1,500,000 will no longer be variable, nor constrained, and at which point the Company can immediately recognize the $583,000 allocated to the Patent Rights and in turn can start to recognize revenue from the Phase 2 services. Disaggregation of Patent Sales and Clinical Trial Services Patent Rights Sale Patent Rights sales are recognized when control of the Patent Rights are transferred to the purchaser (at a point-in-time). Due to the full constraint on the variable consideration of $1,500,000, there was no revenue recognized from the sale of Patent Rights to Atlas for the three and six months ended June 30, 2020 and 2019, respectively. Clinical Trials Revenue from clinical trials are recognized over time, as the services are performed, as the Company's performance enhances the Patent Rights asset that Atlas controls. The Phase 2 study to be performed under the Atlas License is expected to begin in October 2020 and run through November 2021. The expected first patient dose in the study is expected to occur in December 2020, at which point revenue from the Phase 2 study can begin to be recognized. Due to the Phase 2 study having not begun and the full constraint on the variable consideration of $1,500,000, for the three and six months ended June 30, 2020 and 2019, there was no revenue recognized from the Phase 2 services.
Collaboration Revenue	Collaboration Revenue On September 24, 2018, the Company entered into a Distribution, License and Supply Agreement (“License Agreement”) with Knight Therapeutics ("Knight"). The License Agreement has a term of 15 years (with automatic renewals) and provides Knight with an exclusive right to commercialize current and future Jaguar human health products (including Crofelemer, Lechlemer, and any product containing a proanthocyanidin or with an anti-secretory mechanism) in Canada and Israel. In addition, Knight was granted a right of first negotiation for expansion to Latin America. Under the License Agreement, Knight is responsible for applying for and obtaining necessary regulatory approvals in the territory of Canada and Israel, as well as marketing, sales and distribution of the licensed products. Knight will pay a transfer price for all licensed products, and upon achievement of certain regulatory and sales milestones, Jaguar may receive payments from Knight in an aggregate amount of up to approximately $18 million payable throughout the initial 15-year term of the agreement. The Company did not have any
Modifications to equity-classified instruments	Modifications to equity-classified instruments In the six months ending June 30, 2020, the Company modified certain equity-classified warrants (see Note 8). It is the Company’s policy to determine the impact of modifications to equity-classified warrants by analogy to the share-based compensation guidance of ASC 718, Compensation - Stock Compensation (“ASC 718”). The model for a modified share-based payment award that is classified as equity and remains classified in equity after the modification is addressed in ASC 718-20-35-3. Pursuant to that guidance, the incremental fair value from the modification is recognized as an expense in the statements of operations to the extent the modified instrument has a higher fair value; however, in certain circumstances, such as when an entire class of warrants are modified, the measured increase in fair value may be more appropriately recorded as a deemed dividend, depending upon the nature of the warrant modification. In the six months ending June 30, 2020, the Company modified the terms of its Series B convertible preferred stock, and Series 1, 2 and Bridge warrants (see Note 9). For amendments to preferred stock, it is the Company’s policy to measure the impact by analogy to ASC 470-50 in determining if such an amendment is an extinguishment or a modification. If the amendment results in an extinguishment, the Company follows the SEC staff guidance in ASC 260-10-S99-2 and ASC 470-20. If the amendment results in a modification, the Company follows the model in either ASC 718 or ASC 470-50, depending on the nature of the amendment.
Stock-Based Compensation	Stock-Based Compensation The Company's 2014 Stock Incentive Plan (see Note 11) provides for the grant of stock options, restricted stock and restricted stock unit awards. The Company measures stock awards granted to employees, non-employees and directors at fair value on the date of grant and recognizes the corresponding compensation expense of the awards, net of estimated forfeiture over the requisite service periods, which correspond to the vesting periods of the awards. The Company issues stock awards with only service-based vesting conditions, and records compensation expense for these awards using the straight-line method. The Company uses the grant date fair market value of its common stock to determine the grant date fair value of options granted to employees, non-employees and directors.
Income Taxes	Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. A valuation allowance is provided when it is more likely than not that some portion or all of a deferred tax asset will not be realized.
Comprehensive Loss	Comprehensive Loss For all periods presented, the comprehensive loss was equal to the net loss; therefore, a separate statement of comprehensive loss is not included in the accompanying unaudited condensed consolidated financial statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. The primary focus of the standard is to improve the effectiveness of the disclosure requirements for fair value measurements. The changes affect all companies that are required to include fair value measurement disclosures. The standard requires the use of the prospective method of transition for disclosures related to changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop fair value measurements categorized within Level 3 of the fair value hierarchy, and narrative description of measurement uncertainty. All other amendments in the standard are required to be adopted retrospectively. We adopted the standard on January 1, 2020. Adoption of this standard did not have a material effect on the Company’s unaudited condensed consolidated financial statements and related disclosures. In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction Between Topic 808 and Topic 606. ASU 2018-18 provides guidance on how to assess whether certain transactions between collaborative arrangement participants should be accounted for within the revenue recognition standard. The standard also provides more comparability in the presentation of revenue for certain transactions between collaborative arrangement participants. The standard is to be applied retrospectively to the date of the initial application of Topic 606 which also requires recognition of the cumulative effect of applying the amendments as an adjustment to the opening balance of retained earnings of the later or the earliest annual period presented and the annual period inclusive of the initial application of Topic 606. We adopted the standard on January 1, 2020. Adoption of this standard did not have a material effect on the Company’s unaudited condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is intended to simplify various aspects related to accounting for income taxes. The standard also removes certain exceptions to the general principles in Topic 740 and clarifies and amends existing guidance to improve consistent application. The pronouncement is effective for the Company beginning January 1, 2021 with early adoption permitted. The Company is still evaluating the impact of the adoption of this standard.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Schedule of adoption of the new leases standard	(in thousands) December 31, 2018 Adoption Impact January 1, 2019 Operating lease right-of-use assets $ — $ $ Operating leases liabilities, current portion — Operating leases liabilities, long term — Deferred rent (380) —
Customer risk | Total net revenue
Schedule of concentration risk	Three Months Ended Six Months Ended June 30, June 30, (unaudited) (unaudited) 2020 2019 2020 2019 Customer 1 100 % 100 % 99 % 89 %
Credit risk | Total accounts receivable
Schedule of concentration risk	June 30, 2020 December 31, (unaudited) 2019 Customer 1 100 % 99 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Measurements
Summary of information about the derivative, conversion option and warrant liabilities that were measured at fair value on a recurring basis	June 30, 2020 (unaudited) (in thousands) Level 1 Level 2 Level 3 Total Warrant liability $ — $ — $ $ Total fair value $ — $ — $ $ December 31, 2019 (in thousands) Level 1 Level 2 Level 3 Total Warrant liability $ — $ — $ $ Total fair value $ — $ — $ $
Summary of change in the estimated fair value of level 3 liabilities	Six Months Ended June 30, 2020 Warrant Liability (in thousands) (unaudited) Beginning fair value of Level 3 liability $ Additions Change in fair value Ending fair value of Level 3 liability $

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2020
Balance Sheet Components
Schedule of inventory	June 30, December 31, (in thousands) 2020 2019 (unaudited) Raw Material $ $ Work in Process Finished Goods Inventory $ $
Schedule of property and equipment	June 30, December 31, (in thousands) 2020 2019 (unaudited) Land $ $ Lab equipment Clinical equipment Software Total property and equipment at cost Accumulated depreciation (245) (225) Property and equipment, net $ $
Schedule of intangible assets	June 30, December 31, (in thousands) 2020 2019 (unaudited) Developed technology $ $ Accumulated developed technology amortization (4,861) (4,028) Developed technology, net In-process research and development Impairment — (4,000) In process research and development, net Trademarks Accumulated trademark amortization (58) (48) Trademarks, net Total intangible assets, net $ $

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt
Schedule of notes payable	June 30, December 31, (in thousands) 2020 2019 (unaudited) 2019 Exchange Note 1 2019 Exchange Note 2 Insurance Premium Financing — Tempesta Note Payable Royalty Interest — Oasis Secured Borrowing — Less: unamortized discount and debt issuance costs (182) — Note payable, net of discount $ $ Notes payable - non-current, net $ $ Notes payable - current, net $ $

Warrants (Tables)

Warrants (Tables)	6 Months Ended
	Jun. 30, 2020
Warrants
Summary of warrant activity	June 30, 2020 December 31, 2019 (unaudited) Warrants outstanding, beginning balance 19,421,892 34,682 Issuances 8,771,632 20,637,761 Exercises (11,202,129) (1,250,000) Expirations and cancelations — (551) Warrants outstanding, ending balance 16,991,395 19,421,892

Convertible Preferred Stock (Ta

Convertible Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2020
Convertible Preferred Stock
Schedule of convertible preferred stock	At June 30, 2020, convertible preferred stock consisted of the following: Liquidation ( in thousands, except share data) Shares Issued and Carrying Preference Series Authorized Outstanding Value per Share A 5,524,926 5,524,926 $ $ 1.665 B 11,000 — — — B-1 63 — — — B-2 10,165 7,534 — Non-designated 4,453,846 — — — Total 10,000,000 5,532,460 $ At December 31, 2019, convertible preferred stock consisted of the following: Liquidation ( in thousands, except share data) Shares Issued and Carrying Preference Series Authorized Outstanding Value per Share A 5,524,926 5,524,926 $ $ 1.665 B 11,000 1,971 — B-1 63 — — — B-2 10,165 10,165 — Non designated 4,453,846 — — — Total 10,000,000 5,537,062 $

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Stockholders' Equity
Schedule of common reserved shares of common stock for issuance	June 30, 2020 December 31, (unaudited) 2019 Options issued and outstanding 4,455,101 3,902,675 Inducement options issued and outstanding 3,392 74 Options available for grant under stock option plans 710,299 479,829 Restricted stock unit awards issued and outstanding 5,613 5,613 Warrants issued and outstanding 16,991,395 19,421,892 Series A convertible preferred stock 473,565 473,565 Series B convertible preferred stock — 985,500 Series B-2 convertible preferred stock 1,431,460 1,931,350 Total 24,070,825 27,200,498

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2020
Stock Based Compensation
Summary of incentive plan activity	Weighted Weighted Average Shares Stock Average Remaining Aggregate Available Options RSUs Stock Option Contractual Life Intrinsic (in thousands, except share and per share data) for Grant Outstanding Outstanding Exercise Price (Years) Value* Outstanding at December 31, 2019 479,829 3,902,675 5,613 $ 5.20 9.56 $ — Additional shares authorized 786,229 — — — — — Options granted (853,318) 853,318 — 0.45 — — Options canceled 297,559 (297,559) — 3.75 — — Options canceled not rolled back into the 2013 Plan — (15) — — — — Outstanding at June 30, 2020 710,299 4,458,419 5,613 $ 4.39 9.12 $ Exercisable at June 30, 2020 1,549,977 $ 9.31 8.85 $ — Vested and expected to vest at June 30, 2020 4,030,402 $ 4.71 9.10 $ *
Summary of stock-based compensation expense	Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 (in thousands) (unaudited) (unaudited) Research and development expense $ $ $ $ Sales and marketing expense General and administrative expense Total $ $ $ $
Employee stock options
Stock Based Compensation
Schedule of estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model	Six Months Ended June 30, 2020 2019 (unaudited) Weighted-average volatility 150.1 - 172.4 % 108.3 - 108.5 % Weighted-average expected term (years) 5.0 5.8 Risk-free interest rate 0.3 - 0.5 % 2.5 - 2.6 % Expected dividend yield — —

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Net Loss Per Share
Schedule of calculation of basic and diluted net income (loss) per common share	Three Months Ended Six Months Ended June 30, June 30, (In thousands, except share and per share data) 2020 2019 2020 2019 (unaudited) (unaudited) Net loss attributable to common shareholders (basic and diluted) $ (10,597) $ (16,721) $ (19,013) $ (25,025) Shares used to compute net loss per common share, basic and diluted 23,890,931 1,106,374 19,516,419 801,482 Net loss per share attributable to common shareholders, basic and diluted $ (0.44) $ (15.11) $ (0.97) $ (31.22)
Schedule of common stock equivalents excluded from the calculation of diluted net loss per common share	June 30, 2020 2019 (unaudited) Options issued and outstanding 4,455,101 39,481 Inducement options issued and outstanding 3,392 906 Restricted stock units issued and outstanding 5,613 5,613 Warrants issued and outstanding 16,991,395 1,237,871 Series A convertible preferred stock 473,565 473,565 Series B convertible preferred stock — — Series B-2 convertible preferred stock 1,431,460 — Total 23,360,526 1,757,436

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Information
Schedule of reportable segments net revenue and net loss	Three Months Ended Six Months Ended June 30, June 30, (in thousands) 2020 2019 2020 2019 (unaudited) (unaudited) Revenue from external customers Human Health $ $ $ $ Animal Health Consolidated Totals $ $ $ $ Segment net loss Human Health $ (1,609) $ (9,838) $ (4,809) $ (12,631) Animal Health (7,629) (6,883) (12,365) (12,394) Consolidated Totals $ (9,238) $ (16,721) $ (17,174) $ (25,025)
Schedule of reportable segments assets	June 30, December 31, (in thousands) 2020 2019 Segment assets (unaudited) Human Health $ $ Animal Health Total $ $
Schedule of reconciliation of segments assets to the consolidated assets	June 30, December 31, 2020 2019 (in thousands) (unaudited) Total assets for reportable segments $ $ Less: Investment in subsidiary (29,241) (29,241) Less: Intercompany loan (38,453) (34,950) Consolidated Totals $ $

Organization and Business - (De

Organization and Business - (Details)	6 Months Ended
	Jun. 30, 2020segment
Organization and Business
Number of operations segments	2

Organization and Business - Liq

Organization and Business - Liquidity and Going Concern (Details) - USD ($) $ in Thousands	Jul. 01, 2020	Apr. 16, 2020	Jun. 30, 2020	Dec. 31, 2019
Accumulated deficit			$ (150,264)	$ (133,090)
Remaining bid compliance period		72 days
Subsequent event
Remaining bid compliance period	72 days

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Concentrations (Details) - item	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Total net revenue | Customer 1
Concentrations
Concentration risk (as a percentage)	100.00%	100.00%	99.00%	89.00%
Total net revenue | Customer risk | One major pharmaceutical distributors
Concentrations
Number of major distributors	1		1
Total accounts receivable | Customer 1
Concentrations
Concentration risk (as a percentage)			100.00%		99.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Land, Property and Equipment and Indefinite-lived Intangible Assets (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Goodwill impairment charges
Impairment of indefinite-lived intangible assets	$ 0	$ 4,000,000	$ 0	$ 4,000,000
Minimum
Goodwill
Estimated useful lives			3 years
Maximum
Goodwill
Estimated useful lives			10 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Leases (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating leases liabilities, current portion	$ 116,000	$ 337,000
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Monthly base rents	38,000
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Monthly base rents	$ 41,000
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease - right-of-use asset			$ 1,111,000
Operating leases liabilities, current portion			337,000
Operating leases liabilities, long term			395,000
Deferred rent				$ 380,000
Adoption Impact | ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease - right-of-use asset			1,111,000
Operating leases liabilities, current portion			337,000
Operating leases liabilities, long term			395,000
Deferred rent			$ (380,000)

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Revenue Recognition (Details)	Apr. 15, 2020USD ($)item	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Disaggregation of Product Revenue
Practical Expedients, not disclose the value of unsatisfied performance obligations				true
Atlas
Disaggregation of Product Revenue
Total transaction price	$ 1,779,000			$ 0
Atlas | Patent purchase agreement
Disaggregation of Product Revenue
Upfront cash payments received	1,500,000			1,500,000
Atlas | License Agreement, Phase 2 Study [Member]
Disaggregation of Product Revenue
Upfront cash payments received	$ 1,500,000	$ 1,500,000	$ 1,500,000	1,500,000	$ 1,500,000
Number of performance obligations | item	2
Financing component of transaction price	$ 279,000
Total transaction price	1,196,000
Revenue recognized	$ 583,000	0	0	0	0
Atlas | License Agreement, Phase 2 Study [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-15
Disaggregation of Product Revenue
Performance obligations period	13 months 6 days
Atlas | License Agreement, Patent Sale [Member]
Disaggregation of Product Revenue
Upfront cash payments received		1,500,000	1,500,000	1,500,000	1,500,000
Total transaction price	$ 583,000
Revenue recognized		0	0	0	0
Mytesi
Disaggregation of Product Revenue
Product revenue		3,153,000	1,685,000	3,988,000	3,228,000
Neonorm
Disaggregation of Product Revenue
Product revenue		$ 14,000	$ 21,000	$ 48,000	$ 67,000
License | Atlas | License Agreement
Disaggregation of Product Revenue
License term	10 years
Obligated initiate proof of concept	9 months
Trial delay fee event of failure of initiation of phase 2 study	$ 2,515,000
License | Atlas | License Agreement | Minimum
Disaggregation of Product Revenue
Number of trial delay payments | item	3
License | Atlas | License Agreement | Maximum
Disaggregation of Product Revenue
Phase 2 completion period	5 years
License | Atlas | License Agreement | License Agreement, From Nine Month Anniversary Of Effective Date [Member]
Disaggregation of Product Revenue
Trial delay fee event of failure of initiation of phase 2 study	$ 200,000
License | Atlas | License Agreement | License Agreement, From Fifteen Month Anniversary Of Effective Date [Member]
Disaggregation of Product Revenue
Trial delay fee event of failure of initiation of phase 2 study	$ 350,000

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Revenue Recognition - Collaboration Revenue (Details) - USD ($)	Sep. 24, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Collaboration Revenue
Collaboration revenue		$ 0	$ 0	$ 0	$ 0
Knight
Collaboration Revenue
License agreement term (in years)	15 years
Transfer price receivable upon achievement of certain regulatory and sales milestones	$ 18,000,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Liabilities Measured on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair value of liabilities measured on a recurring basis
Total fair value	$ 4,086	$ 3
Level 3
Fair value of liabilities measured on a recurring basis
Total fair value	4,086	3
Warrant liability
Fair value of liabilities measured on a recurring basis
Warrant liability	4,086	3
Warrant liability | Level 3
Fair value of liabilities measured on a recurring basis
Warrant liability	$ 4,086	$ 3

Fair Value Measurements - Estim

Fair Value Measurements - Estimated fair value of Level 3 (Details) - Level 3 - Recurring - Warrant liability $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning value of Level 3 liability	$ 3
Additions	3,696
Change in fair value	387
Ending fair value of level 3 liability	$ 4,086

Fair Value Measurements - Est_2

Fair Value Measurements - Estimated Fair Value of Warrant Liability (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2020USD ($)$ / shares	Jun. 30, 2020USD ($)$ / shares	May 31, 2020$ / shares	May 22, 2020USD ($)$ / shares	Apr. 30, 2020$ / shares	Dec. 31, 2019USD ($)$ / shares	Jul. 31, 2019$ / shares	Jul. 23, 2019USD ($)
Series A Warrants | Stock price
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability | $ / shares	0.49	0.49				0.65
Series A Warrants | Strike price
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability | $ / shares	787.50	787.50				787.50
Series A Warrants | Expected life
Fair Value Assumptions and Methodology for Assets and Liabilities
Weighted-average expected term (years)	1 year 10 months 24 days	1 year 10 months 24 days				2 years 4 months 28 days
Series A Warrants | Volatility
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability	141	141				143.41
Series A Warrants | Risk free rate
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability	0.16	0.16				1.62
Series 1 warrants
Fair Value Assumptions and Methodology for Assets and Liabilities
Weighted-average expected term (years)							5 years
Series 1 warrants | Stock price
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability | $ / shares							1.73
Series 1 warrants | Strike price
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability | $ / shares							2
Series 1 warrants | Expected life
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability							5
Series 1 warrants | Volatility
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability							109.25
Series 1 warrants | Risk free rate
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability							1.83
Series 3 warrants
Fair Value Assumptions and Methodology for Assets and Liabilities
Weighted-average expected term (years)			5 years
Series 3 warrants | Stock price
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability | $ / shares	0.49	0.49	0.05	0.44
Series 3 warrants | Strike price
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability | $ / shares	0.05	0.05	0.44	0.05
Series 3 warrants | Expected life
Fair Value Assumptions and Methodology for Assets and Liabilities
Weighted-average expected term (years)	5 years 4 months 21 days	5 years 4 months 21 days	5 years 6 months	5 years 6 months
Series 3 warrants | Volatility
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability	141	141	141	143
Series 3 warrants | Risk free rate
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability	0.29	0.29	0.34	0.34
Underwriter Warrants | Stock price
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability | $ / shares	0.49	0.49			2.50	0.65
Underwriter Warrants | Strike price
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability | $ / shares	52.50	52.50			0.45	52.50
Underwriter Warrants | Expected life
Fair Value Assumptions and Methodology for Assets and Liabilities
Weighted-average expected term (years)	3 years 3 months 18 days	3 years 3 months 18 days			4 years 3 months	3 years 9 months 4 days
Underwriter Warrants | Volatility
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability	141	141			141	143.41
Underwriter Warrants | Risk free rate
Fair Value Assumptions and Methodology for Assets and Liabilities
Warrant liability	0.18	0.18			0.29	1.69
2019 Bridge Note Warrants
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant								$ 4,259,000
Warrant liability | Recurring | Level 3
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant	$ 4,086,000	$ 4,086,000				$ 3,000
Change in fair value		387,000
Warrant liability | Series A Warrants
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant	1	1
Warrant liability						10
Change in fair value	2	9
Warrant liability | Series A Warrants | Recurring | Level 3
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant	1	1				$ 10
Warrant liability | Series 3 warrants
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant	4,084,478	4,084,478		$ 3,695,723
Change in fair value	386,755	386,755
Warrant liability | Series 3 warrants | Recurring | Level 3
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant	4,084,478	4,084,478
Warrant liability | Underwriter Warrants
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant	1,566	1,566				3,482
Change in fair value	530	735
Warrant liability | Underwriter Warrants | Recurring | Level 3
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant	$ 1,566	$ 1,566				3,482
Warrant liability | LOC Warrants | Recurring | Level 3
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant						0
Warrant liability | 2019 Bridge Note Warrants | Recurring | Level 3
Fair Value Assumptions and Methodology for Assets and Liabilities
Fair value of warrant						$ 0

Balance Sheet Components - Inve

Balance Sheet Components - Inventory (Details)10 - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Inventory, Gross [Abstract]
Raw Material	$ 631	$ 457
Work in Process	875	1,211
Finished Goods	848	461
Inventory	$ 2,354	$ 2,129

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Land, Property and Equipment
Total property and equipment at cost	$ 942,000		$ 942,000		$ 935,000
Accumulated depreciation	(245,000)		(245,000)		(225,000)
Property and equipment, net	697,000		697,000		710,000
Depreciation and amortization expense	10,000	$ 15,000	20,000	$ 30,000
Land
Land, Property and Equipment
Total property and equipment at cost	396,000		396,000		396,000
Lab equipment
Land, Property and Equipment
Total property and equipment at cost	418,000		418,000		411,000
Clinical equipment
Land, Property and Equipment
Total property and equipment at cost	65,000		65,000		65,000
Software
Land, Property and Equipment
Total property and equipment at cost	$ 63,000		$ 63,000		$ 63,000

Balance Sheet Components - Inta

Balance Sheet Components - Intangible assets (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Intangible assets
Impairment	$ 0	$ (4,000,000)	$ 0	$ (4,000,000)
Finite-lived intangible assets, net	25,181,000		25,181,000		$ 26,024,000
Total intangible assets, net	25,181,000		25,181,000		26,024,000
Amortization expense	422,000	843,000	422,000	843,000
Developed technology
Intangible assets
Total intangible assets	25,000,000		25,000,000		25,000,000
Accumulated amortization	(4,861,000)		(4,861,000)		(4,028,000)
Finite-lived intangible assets, net	20,139,000		20,139,000		20,972,000
In process research and development
Intangible assets
Total intangible assets	4,800,000		4,800,000		8,800,000
Impairment		$ 4,000,000		$ 4,000,000	(4,000,000)
Finite-lived intangible assets, net	4,800,000		4,800,000		4,800,000
Trademarks
Intangible assets
Total intangible assets	300,000		300,000		300,000
Accumulated amortization	(58,000)		(58,000)		(48,000)
Finite-lived intangible assets, net	$ 242,000		$ 242,000		$ 252,000

Related Party Transactions - Ma

Related Party Transactions - Management Services Agreement (Details) - Sagard Capital Partners, L.P. - USD ($)	1 Months Ended	6 Months Ended
	Mar. 31, 2018	Jun. 30, 2020
Related Party Transaction [Line Items]
Consulting and management advisory services fees	$ 450,000
Maximum aggregate payments for consulting and management advisory services received	$ 1,350,000
Management fee incurred		$ 225,000
Payable amount		$ 1,013,000

Related Party Transactions - Le

Related Party Transactions - Letter of Credit (Details) - USD ($)	Mar. 24, 2020	Nov. 30, 2019	Aug. 31, 2018	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2016
Related party Transactions
Standby letter of credit received as collateral					$ 475,000
Warrants to purchase (in shares)				9,580	9,580
Principal amount						$ 12,500,000
Letter of credit | Dr. A. Conte
Related party Transactions
Payment of additional consideration	$ 0			$ 30,000	$ 35,000
Principal amount	475,000
Consideration	10,000
Expenses reimbursable	7,500			0	0
Payment of fees	0			30,000	35,000
Payable amount	$ 7,500			$ 0	$ 0
Office lease extension agreement | Pacific Capital Management LLC
Related party Transactions
Standby letter of credit received as collateral			$ 475,000
Warrants to purchase (in shares)			9,580
Payment of additional consideration		$ 45,000
Payment of fees		$ 45,000

Related Party Transactions - 20

Related Party Transactions - 2019 Bridge Notes (Details)	3 Months Ended
	Jun. 26, 2019USD ($)itemshares	Dec. 31, 2016USD ($)
Related Party Transaction [Line Items]
Principal amount		$ 12,500,000
2019 Bridge Notes
Related Party Transaction [Line Items]
Number of members of Board of Directors | item	3
2019 Bridge Notes | Jonathan Siegel DBA JBS Healthcare Ventures
Related Party Transaction [Line Items]
Principal amount	$ 75,000
Number of warrants are converted for each share | shares	34,375
2019 Bridge Notes | Sagard Capital Partners
Related Party Transaction [Line Items]
Principal amount	$ 500,000
Number of warrants are converted for each share | shares	187,500
2019 Bridge Notes | Lisa Conte
Related Party Transaction [Line Items]
Principal amount	$ 100,000
Number of warrants are converted for each share | shares	37,500
2019 Bridge Notes | James Bochnowski
Related Party Transaction [Line Items]
Principal amount	$ 350,000
Number of warrants are converted for each share | shares	218,750
2019 Bridge Notes | Jonathan Glaser
Related Party Transaction [Line Items]
Principal amount	$ 500,000
Number of warrants are converted for each share | shares	250,000

Commitments and Contingencies -

Commitments and Contingencies - Commitments (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)shares	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)shares	Jun. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Aug. 28, 2018ft²
Commitments and Contingencies
Monthly base rent for first twelve months			$ 38,000
Monthly base rent for subsequent twelve months			40,000
Monthly base rent for final months			41,000
Standby letter of credit received as collateral			$ 475,000
Term			5 years
Warrants to purchase (in shares) | shares	9,580		9,580
Fair value of warrants included in stockholders equity			$ 494,000
Non-cash rent expense per month			20,000
Future minimum lease payments under non-cancelable operating lease					$ 119,000	$ 119,000
Minimum
Commitments and Contingencies
Lease expense under non-cancelable operating lease			38,000
Maximum
Commitments and Contingencies
Lease expense under non-cancelable operating lease			41,000
Letter of credit
Commitments and Contingencies
Letter of Credit								$ 475,000
Letter of credit | Shareholder
Commitments and Contingencies
Letter of Credit								$ 122,000
Letter of credit cancelled							$ 122,000
General and administrative expense
Commitments and Contingencies
Lease expense under non-cancelable operating lease	$ 191,000	$ 230,000	$ 382,000	$ 402,000
Office lease extension agreement
Commitments and Contingencies
Area (in square feet) | ft²									6,311

Commitments and Contingencies_2

Commitments and Contingencies - Angel Pond Agreement (Details) - Angel Pond Capital LLC - USD ($)	1 Months Ended
	Oct. 31, 2019	Jun. 30, 2020
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Issuance of common stock in exchange for services (in shares)	166,667
Angel Pond Agreement
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Compensation	$ 140,000
Initial term of contract	4 months
Extension term of contract	2 months
Additional compensation payable	$ 30,000
Capital raised in China		$ 0
Compensation payable		$ 0

Commitments and Contingencies_3

Commitments and Contingencies - Asset transfer and transition commitment update (Details) $ in Millions	Sep. 25, 2017USD ($)
Commitments and Contingencies
Percentage of amount received to be paid to Glenmark	25.00%
Maximum amount to be received by Glenmark	$ 7
Payments made to date to Glenmark	$ 0

Commitments and Contingencies_4

Commitments and Contingencies - Revenue sharing commitment update (Details) - USD ($) $ in Millions	Dec. 14, 2017	Jun. 30, 2020
Long-term Purchase Commitment [Line Items]
Payments made to date to SEED		$ 0
SEED
Long-term Purchase Commitment [Line Items]
Percentage of revenue sharing commitment	15.00%
Percentage of revenue sharing commitment after first million dollars of revenue	20.00%

Commitments and Contingencies_5

Commitments and Contingencies - Settlement of Underwriter Fee (Details) - USD ($)	1 Months Ended			6 Months Ended	12 Months Ended
	Apr. 30, 2020	Sep. 30, 2019	Aug. 31, 2018	Jun. 30, 2020	Dec. 31, 2019
Number of pre-funded warrants issued				8,771,632	20,637,761
Convertible warrants				9,580
Amount of shares issued				$ 668,000
Underwriter
Number of pre-funded warrants issued			1,096
Payments of underwriters settlement fee		$ 201,650		$ 386,560
Underwriters settlement fee	$ 184,910
Convertible warrants	100,780
Exercise price (in dollars per share)	$ 2.50
Issuance of common stock (In shares)	100,000
Amount of shares issued	$ 44,900

Debt - June 2017 Convertible de

Debt - June 2017 Convertible debt (Details)	Aug. 02, 2018USD ($)	Jun. 29, 2017USD ($)	May 31, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)NotesSeriesitem	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)NotesSeries	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt
Debt Instrument, Face Amount											$ 12,500,000
Fair value of derivative liability due to repayment of mandatory default		$ 15,000
Fair value of derivative liability due to interest rate increase feature		5,000
Derivative liability										$ 20,000
Maximum aggregate redemption amount	$ 500,000
Number of notes for which standstill fee paid | NotesSeries					4
Standstill fee					$ 199,000		$ 63,296
Increase in principal balance of notes payable					119,000		37,296
Standstill fee paid in cash					80,000		26,000
Gains (Losses) on Extinguishment of Debt				$ (2,663,000)		$ (4,605,000)
Chicago Venture Partners, L.P.
Debt
Total standstill fee					$ 499,000		$ 499,403
Number of notes for which standstill fee paid					4		4
December 2017 Note Convertible debt
Debt
Debt legal fee		30,000
Proceeds from issuance of convertible debt		1,700,000
Convertible debt payable								$ 0	$ 0
Gains (Losses) on Extinguishment of Debt			$ 7,566
December 2017 Note Convertible debt | Chicago Venture Partners, L.P.
Debt
Debt Instrument, Face Amount		2,155,000
Original issue discount		$ 425,000
Interest rate (as a percent)		8.00%

Debt - March 2017 Convertible d

Debt - March 2017 Convertible debt (Details)	1 Months Ended
	Mar. 31, 2017USD ($)trancheLender	Dec. 31, 2016USD ($)
Debt
Principal amount		$ 12,500,000
Napo | Exchangeable note purchase agreement
Debt
Number of lenders, agreement | Lender	2
Principal amount	$ 1,312,500
Number of tranches | tranche	2
Value of each tranche	$ 525,000
Face amount of each tranche	$ 656,250
Interest rate (as a percent)	3.00%
Fair value of notes	$ 1,312,500

Debt - Amendment to Note Purcha

Debt - Amendment to Note Purchase Agreement and Notes (Details)	Feb. 16, 2019USD ($)	Mar. 23, 2018USD ($)Y$ / shares	Dec. 31, 2017USD ($)$ / sharesshares	Feb. 16, 2018USD ($)shares	Nov. 30, 2017$ / shares	Dec. 31, 2016USD ($)
Debt
Principal amount						$ 12,500,000
First Amendment to Note Purchase Agreement and Notes | Convertible note purchase agreement | Conversion option liability | Napo
Debt
Percent of increase in the principal amount			12.00%
Conversion price (in dollars per share) | $ / shares			$ 14		$ 39.20
Issuance of common stock in exchange for services (in shares) | shares			166,139
Partial redemption of convertible notes			$ 299,050
First Amendment to Note Purchase Agreement and Notes | Convertible note purchase agreement | Conversion option liability | Napo
Debt
Principal amount			$ 1,170,950
Second Amendment to Note Purchase Agreement and Notes | Napo
Debt
Principal amount				$ 435,950
Shares issued to creditors | shares				3,603
Accrued interest on notes payable	$ 18,063
Principal paid		$ 735,000
Interest paid		20,699
Second Amendment to Note Purchase Agreement and Notes | Conversion option liability | Napo | Level 3 | Recurring
Debt
Increase to the fair value of the conversion option liability		$ 174,754
Second Amendment to Note Purchase Agreement and Notes | Conversion option liability | Napo | Stock price
Debt
Conversion price (in dollars per share) | $ / shares		$ 14.70
Second Amendment to Note Purchase Agreement and Notes | Conversion option liability | Napo | Expected life
Debt
Conversion option liability | Y		0.11
Second Amendment to Note Purchase Agreement and Notes | Conversion option liability | Napo | Risk free rate
Debt
Conversion option liability		1.69
Second Amendment to Note Purchase Agreement and Notes | Conversion option liability | Napo | Level 3 | Recurring
Debt
Conversion option liability written off		$ 286,595
Second Amendment to Note Purchase Agreement and Notes | Conversion option liability | Napo | Volatility
Debt
Conversion option liability		288.16
Second Amendment to Note Purchase Agreement and Notes | Conversion option liability | Napo | Dividend rate
Debt
Conversion option liability		0

Debt - December 2016 Convertibl

Debt - December 2016 Convertible debt (Details)	Mar. 16, 2018USD ($)shares	Mar. 31, 2019item	Jan. 31, 2019USD ($)shares	Aug. 31, 2018USD ($)shares	Jul. 31, 2017USD ($)Lender	Dec. 31, 2016USD ($)$ / sharesLender	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	May 31, 2019USD ($)	Jun. 30, 2017USD ($)
Debt
Aggregate principal amount						$ 12,500,000
Convertible promissory notes, December 2016
Debt
Aggregate principal amount						$ 2,500,000
Number of lenders | Lender						3
Proceeds from issuance of convertible debt						$ 2,000,000
Unamortized note discount						$ 500,000
Conversion price (in dollars per share) | $ / shares						$ 64.75
Revised principal value of debt										$ 2,625,338
Fair value of notes						$ 11,161,000
Difference between the fair value of the notes and the principal balance						$ 1,035,661
Amortization period of such difference amount						29 months
Interest Payable	$ 534,775			$ 479,808
Debt legal fee	$ 169,950
Repayment of accrued interest			$ 446,729
Shares issued (in shares) | shares	4,081		19,751	4,582
Number of debt instrument extinguished | item		2
Convertible promissory notes, December 2016 | Convertible Long-term Debt
Debt
Unamortized balance of notes payable							$ 0	$ 0
Convertible note purchase agreement
Debt
Debt instrument, frequency of periodic payment					P6M
Accrued interest capitalized to principal of debt										$ 125,338
Convertible promissory notes, July 2017
Debt
Aggregate principal amount					$ 7,500,000
Number of lenders | Lender					4
Proceeds from issuance of convertible debt					$ 6,000,000
Unamortized note discount					$ 1,500,000
Interest rate (as a percent)					10.00%
Napo December 2016 and Napo July 2017 Notes
Debt
Aggregate principal amount									$ 10,125,339
2019 Exchange Note 1
Debt
Aggregate principal amount									$ 10,125,000
Interest rate (as a percent)									10.00%
2019 Exchange Note 2
Debt
Aggregate principal amount									$ 2,297,000
Interest rate (as a percent)									10.00%
Napo | Convertible promissory notes, December 2016
Debt
Carrying amount of Notes issued									$ 10,375,326
Napo | Napo December 2016 and Napo July 2017 Notes
Debt
Aggregate principal amount									10,125,339
Unamortized premium									249,987
Napo | 2019 Exchange Note 1
Debt
Aggregate principal amount									10,535,900
Accrued interest capitalized to principal of debt									$ 410,562

Debt - Notes Payable (Details)

Debt - Notes Payable (Details) - USD ($)	1 Months Ended
	May 31, 2020	Oct. 31, 2019	May 31, 2019	Jun. 30, 2020	Dec. 31, 2019	Mar. 21, 2018	Dec. 31, 2016
Notes payable
Notes payable - non-current, net				$ 400,000	$ 450,000
Notes payable - current, net				8,960,000	6,778,000
Notes payable							$ 12,500,000
Notes payable
Notes payable
Principal amount				9,542,000	7,228,000
Less: unamortized debt discount and net issuance costs				(182,000)
Notes payable, net of discount				9,360,000	7,228,000
Notes payable - non-current, net				400,000	450,000
Notes payable - current, net				8,960,000	6,778,000
March 2018 note payable | Securities purchase agreement
Notes payable
Less: unamortized debt discount and net issuance costs						$ (315,000)
2019 Exchange Note 1
Notes payable
Accrued interest on notes payable			$ 411,000
Notes payable			$ 10,125,000
Interest rate (as a percent)			10.00%
2019 Exchange Note 1 | Notes payable
Notes payable
Principal amount				4,381,000	4,381,000
2019 Exchange Note 2
Notes payable
Notes payable			$ 2,297,000
Interest rate (as a percent)			10.00%
2019 Exchange Note 2 | Notes payable
Notes payable
Principal amount				2,297,000	2,297,000
Insurance Premium Financing
Notes payable
Notes payable, net of discount				776,000
Notes payable	$ 873,000
Interest rate (as a percent)	4.15%
Semi-annual principal and interest payments	$ 97,000
Insurance Premium Financing | Notes payable
Notes payable
Principal amount				776,000
Tempesta Note Payable
Notes payable
Principal amount		$ 550,000		500,000
Notes payable		$ 550,000
Interest rate (as a percent)		2.50%
Semi-annual principal and interest payments		$ 50,000
Tempesta Note Payable | Notes payable
Notes payable
Principal amount				500,000	$ 550,000
Royalty Interest | Notes payable
Notes payable
Principal amount				217,000
Oasis Secured Borrowing | Notes payable
Notes payable
Principal amount				$ 1,371,000

Debt - Securities Purchase Agre

Debt - Securities Purchase Agreement (Details)	Apr. 17, 2019USD ($)	Aug. 02, 2018USD ($)	Mar. 21, 2018USD ($)	Feb. 26, 2018USD ($)	Dec. 08, 2017USD ($)	Apr. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)NotesSeriesitem	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)NotesSeries	Dec. 31, 2019USD ($)	Dec. 31, 2016USD ($)
Debt
Principal amount																$ 12,500,000
Proceeds from issuance of notes payable, net of issuance costs and debt discount												$ 350,000	$ 5,050,000
Number of notes for which standstill fee paid | NotesSeries											4
Maximum aggregate redemption amount		$ 500,000
Standstill fee											$ 199,000			$ 63,296
Increase in principal balance of notes payable											119,000			37,296
Standstill fee paid in cash											80,000			26,000
Loss on extinguishment of debt									$ (2,663,000)				(4,605,000)
Change in warrant liability								$ 386,000	$ (207,000)			387,000	$ (161,000)
Chicago Venture Partners, L.P.
Debt
Total standstill fee											$ 499,000			$ 499,403
Number of notes for which standstill fee paid											4			4
Securities purchase agreement | Chicago Venture Partners, L.P.
Debt
Principal amount			$ 1,090,000
Securities purchase agreement | Promissory Note, December 08, 2017 | Chicago Venture Partners, L.P.
Debt
Principal amount					$ 1,588,000
Aggregate purchase price					1,100,000
Original issue discount					462,500
Transaction expenses					$ 25,000
Interest rate (as a percent)					8.00%
Convertible debt payable								$ 0				$ 0			$ 0
Maximum aggregate redemption amount		$ 500,000
Standstill fee											$ 142,000
Increase in principal balance of notes payable											86,000
Repayments of notes payable, principal							$ 811,000
Repayments of notes payable, interest							179,000
Loss on extinguishment of debt	$ 19,494					$ 100,148	243,000
Securities purchase agreement | February 2018 note payable | Chicago Venture Partners, L.P.
Debt
Principal amount				$ 2,241,000
Proceeds from issuance of notes payable, net of issuance costs and debt discount				1,560,000
Original issue discount				656,000
Transaction expenses				$ 25,000
Interest rate (as a percent)				8.00%
Convertible Notes Payable Gross											0			$ 0	0
Principal less discount											0			$ 0	$ 0
Repayments of notes payable, principal							2,045,000
Repayments of notes payable, interest							204,000
Loss on extinguishment of debt						$ 37,740	$ 488,000				102,000
Securities purchase agreement | March 2018 note payable
Debt
Discounts			315,000
Securities purchase agreement | March 2018 note payable | Chicago Venture Partners, L.P.
Debt
Aggregate purchase price			750,000
Transaction expenses			$ 25,000
Interest rate (as a percent)			8.00%
Standstill fee											96,000
Increase in principal balance of notes payable											58,000
Standstill fee paid in cash											38,000
Repayments of notes payable, principal										$ 1,050,000
Repayments of notes payable, interest										86,000
Loss on extinguishment of debt										$ 1,211,000	$ 224,000

Debt - 2019 Exchange Notes (Det

Debt - 2019 Exchange Notes (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	May 31, 2019USD ($)item	Jul. 31, 2019USD ($)shares	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2016USD ($)
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Principal amount							$ 12,500,000
Loss on extinguishment of debt			$ (2,663,000)	$ (4,605,000)
Exchange Notes
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Number of Napo convertible notes | item	2
Number of Napo convertible notes exchanged for CVP note | item	2
Convertible debt payable					$ 6,678,000	$ 6,678,000
2019 Exchange Note 1
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Principal amount	$ 10,125,000
Principal amount and accrued interest	10,536,000
Accrued interest on notes payable	$ 411,000
Interest rate (as a percent)	10.00%
Common stock issued in exchange of debt | shares		1,119,440
Convertible debt payable					$ 4,381,000	4,381,000
Repayments of notes payable, principal		$ 6,154,000
Repayments of notes payable, interest		$ 90,000
Share issued for principal and interest payment | shares		1,119,440
2019 Exchange Note 2
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Principal amount	$ 2,297,000
Interest rate (as a percent)	10.00%
Convertible debt payable						$ 2,297,000

Debt - 2019 notes (Details)

Debt - 2019 notes (Details) - USD ($)	1 Months Ended
	Oct. 31, 2019	Jun. 30, 2020	Dec. 31, 2016
Debt Instrument [Line Items]
Principal amount			$ 12,500,000
Tempesta Note Payable
Debt Instrument [Line Items]
Cash received in the settlement	$ 50,000
Principal amount	$ 550,000
Common stock issued in exchange of debt	40,000
Interest rate (as a percent)	2.50%
Semi-annual principal and interest payments	$ 50,000
Principal amount	$ 550,000	$ 500,000

Debt - Sale of Future Royalty I

Debt - Sale of Future Royalty Interest (Details) - USD ($)	1 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2020
Debt Instrument [Line Items]
Future royalty receivable		$ 500,000
Cash received on royalty		350,000
Royalty discount		$ 150,000
Royalty discount rate		105.00%
Purchase Agreement
Debt Instrument [Line Items]
Future royalty receivable	$ 500,000
Aggregate purchase price	$ 350,000
Percentage of net sales of Mytesi	10.00%
Percentage of worldwide revenues	10.00%
Purchase Agreement | Beginning on September 2020
Debt Instrument [Line Items]
Minimum monthly royalty repayment amount	$ 25,000
Purchase Agreement | Beginning on March 2021
Debt Instrument [Line Items]
Minimum monthly royalty repayment amount	$ 43,750

Debt - Oasis Secured Borrowing

Debt - Oasis Secured Borrowing (Details) - USD ($)	1 Months Ended	6 Months Ended
	May 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Accounts Receivable, Net, Current		$ 2,212,000	$ 1,692,000
Discount on debt		145,473
Oasis Capital | Oasis Secured Note - Tranche1
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Cash proceeds	$ 1,007,000
Proceeds from receivables, Gross	1,032,000
Transaction fee	25,000
Accounts receivable gross	2,753,639
Accumulated chargebacks and discounts on accounts receivable	1,080,012
Accounts receivable derecognized	1,673,627
Purchase price	1,182,000
Threshold price		1,182,000
Short-term Debt	1,007,000
Short Term Debt, Gross	1,182,000
Discount on debt	$ 175,000
Interest rate (as a percent)	0.00%
Effective interest rate	147.89%
Oasis Capital | Oasis Secured Note Tranche 2
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Cash proceeds		1,215,131
Accounts Receivable, Net, Current		1,737,745
Accounts receivable gross		2,859,132
Accumulated chargebacks and discounts on accounts receivable		1,121,387
Threshold price		1,370,954
Short-term Debt		1,215,131
Short Term Debt, Gross		1,370,954
Discount on debt		$ 155,823
Interest rate (as a percent)		77.73%
Accounts Receivable Purchase Agreement | Oasis Capital
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Agreement term	1 year
First purchase price (in percent)	37.50%
Subsequent purchase price (in percent)	42.50%
Face amount of purchased account multiplier	0.0545
Overage amount return period	5 days
Shortfall restoration period	30 days
Additional accounts receivable (in percent)	25.00%
Agreement renewal term	1 year
Non renewal notice period before expiration	30 days
Notice period for termination Of agreement	60 days
Transaction fee	$ 25,000
Additional transaction fee	$ 5,000

Debt - Insurance Premium Financ

Debt - Insurance Premium Financing (Details) - USD ($)	1 Months Ended
	May 31, 2020	Jun. 30, 2020	Dec. 31, 2016
Short-term Debt [Line Items]
Principal amount			$ 12,500,000
Insurance Premium Financing
Short-term Debt [Line Items]
Principal amount	$ 873,000
Debt term	9 months
Interest rate (as a percent)	4.15%
Monthly payment	$ 97,000
Outstanding balance		$ 776,000

Warrants - Warrants outstanding

Warrants - Warrants outstanding and exercisable (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Warrants
Warrants outstanding, beginning balance	19,421,892	34,682
Issuances	8,771,632	20,637,761
Exercises	(11,202,129)	(1,250,000)
Expirations and cancelations		(551)
Warrants outstanding, ending balance	16,991,395	19,421,892

Warrants - Ladenburg Warrants (

Warrants - Ladenburg Warrants (Details)	Jul. 23, 2019USD ($)shares	May 31, 2020USD ($)$ / sharesitemshares	Mar. 31, 2019USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	May 22, 2020$ / shares	Apr. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / shares
Warrants
Warrants to purchase (in shares) | shares				9,580
Warrant liability | $				$ 4,086,000			$ 3,000
Series A Warrants | Stock price
Warrants
Warrants - Measurement input				0.49			0.65
Series A Warrants | Strike price
Warrants
Warrants - Measurement input				787.50			787.50
Series A Warrants | Expected life
Warrants
Term of warrant				1 year 10 months 24 days			2 years 4 months 28 days
Series A Warrants | Volatility
Warrants
Warrants - Measurement input				141			143.41
Series A Warrants | Risk free rate
Warrants
Warrants - Measurement input				0.16			1.62
Series 3 warrants
Warrants
Warrants to purchase (in shares) | shares		8,670,852
Exercise price (in dollars per share)		$ 0.53
Warrants exercisable period		6 months
Term of warrant		5 years
Contingent settlement methods | item		2
Warrants conversion | shares		1
Warrant liability | $		$ 3,695,723
Series 3 warrants | Stock price
Warrants
Warrants - Measurement input		0.05		0.49	0.44
Series 3 warrants | Strike price
Warrants
Warrants - Measurement input		0.44		0.05	0.05
Series 3 warrants | Expected life
Warrants
Term of warrant		5 years 6 months		5 years 4 months 21 days	5 years 6 months
Series 3 warrants | Volatility
Warrants
Warrants - Measurement input		141		141	143
Series 3 warrants | Risk free rate
Warrants
Warrants - Measurement input		0.34		0.29	0.34
Underwriter Warrants
Warrants
Warrants to purchase (in shares) | shares						100,780
Exercise price (in dollars per share)						$ 2.50
Warrant liability | $						$ 31,363
Underwriter Warrants | Stock price
Warrants
Warrants - Measurement input				0.49		2.50	0.65
Underwriter Warrants | Strike price
Warrants
Warrants - Measurement input				52.50		0.45	52.50
Underwriter Warrants | Expected life
Warrants
Term of warrant				3 years 3 months 18 days		4 years 3 months	3 years 9 months 4 days
Underwriter Warrants | Volatility
Warrants
Warrants - Measurement input				141		141	143.41
Underwriter Warrants | Risk free rate
Warrants
Warrants - Measurement input				0.18		0.29	1.69
March 2019 LOC Warrants
Warrants
Warrants exercisable | shares	45,750
Fair value of warrants | $	$ 71,000
Securities purchase agreement | March 2019 Ladenburg Warrants
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Shares issued (in shares) | shares			19,019
Warrants
Warrants to purchase (in shares) | shares			761
Exercise price (in dollars per share)			$ 17.50
Warrant liability | $			$ 13,000
Securities purchase agreement | March 2019 Ladenburg Warrants | Stock price
Warrants
Warrants - Measurement input			17.50
Securities purchase agreement | March 2019 Ladenburg Warrants | Strike price
Warrants
Warrants - Measurement input			18.90
Securities purchase agreement | March 2019 Ladenburg Warrants | Expected life
Warrants
Term of warrant			5 years
Securities purchase agreement | March 2019 Ladenburg Warrants | Volatility
Warrants
Warrants - Measurement input			146
Securities purchase agreement | March 2019 Ladenburg Warrants | Risk free rate
Warrants
Warrants - Measurement input			2.21

Warrants - 2019 Bridge Note War

Warrants - 2019 Bridge Note Warrants (Details)

Mar. 23, 2020USD ($)$ / shares

Mar. 05, 2020USD ($)$ / sharesshares

Jul. 23, 2019USD ($)shares

Jun. 26, 2019USD ($)item

Jun. 26, 2019USD ($)

May 31, 2020USD ($)$ / sharesshares

Mar. 31, 2020USD ($)$ / shares

Feb. 29, 2020USD ($)$ / sharesshares

Sep. 30, 2019USD ($)$ / sharesshares

Jul. 31, 2019USD ($)$ / sharesshares

Mar. 31, 2020USD ($)$ / shares

Sep. 30, 2019$ / sharesshares

Jun. 30, 2019USD ($)

Jun. 30, 2020USD ($)$ / shares

Jun. 30, 2019USD ($)

May 01, 2020$ / shares

Apr. 30, 2020$ / shares

Mar. 22, 2020$ / shares

Mar. 04, 2020$ / shares

Feb. 01, 2020$ / shares

Dec. 31, 2019USD ($)

Oct. 31, 2019shares

May 31, 2019USD ($)

Dec. 31, 2016USD ($)

Debt

Debt Instrument, Face Amount | $

$ 12,500,000

Gains (Losses) on Extinguishment of Debt | $

$ (2,663,000)

$ (4,605,000)

Aggregate purchase price of warrants | $

$ 4,086,000

$ 3,000

Gross proceeds from issuance of warrants | $

$ 653,000

Issuance costs | $

51,000

$ 3,000

Proceeds from Issuance of Warrants | $

653,000

Series B convertible preferred stock

Debt

Number of shares issued for preferred stock converted

500

Class A units | Underwritten Public Offering

Debt

Units issued

2,886,500

Unit Price | $ / shares

$ 2

Number of shares in exchange for each unit

1

Number of warrants are converted for each share

1

Class B units

Debt

Units issued

10,787

Unit Price | $ / shares

$ 1,000

Issuance costs | $

$ 1,635,000

Class B units | Series B convertible preferred stock

Debt

Units issued

10,787

Class B units | Underwritten Public Offering

Debt

Units issued

10,787

Unit Price | $ / shares

$ 1,000

Class B units | Underwritten Public Offering | Series B convertible preferred stock

Debt

Number of shares in exchange for each unit

1

Number of shares issued for preferred stock converted

500

Number of warrants are converted for each share

500

2019 Bridge Note Warrants

Debt

Debt Instrument, Face Amount | $

$ 5,050,000

$ 5,050,000

Number Of Promissory Notes Issued

21

21

Fair value of warrant | $

$ 4,259,000

Warrants exercisable

2,781,250

Class of Warrant or Right, Number of Securities Exercisable

2,781,250

Series 1 warrants

Debt

Warrants exercisable

208,022

Warrants issued

8,280,000

8,280,000

Issuance of warrants | $

$ 5,025,000

Impact of modification | $

$ 522,000

Warrant Exercise Inducement Offer, Warrants To Purchase Common Stock Issued

4,572,040

Impact of modification previously reported | $

$ 6,413

Number of warrants are converted for each share

19,841

Term of warrant

5 years

Exercise price (in dollars per share) | $ / shares

$ 1.40

$ 2

$ 1.40

Gross proceeds from issuance of warrants | $

$ 144,000

Class of Warrant or Right, Number of Securities Exercisable

208,022

Proceeds from Issuance of Warrants | $

$ 144,000

Debt Conversion, Converted Instrument, Shares Issued

208,022

Series 1 warrants | Minimum

Debt

Exercise price (in dollars per share) | $ / shares

$ 2

Series 1 warrants | Maximum

Debt

Exercise price (in dollars per share) | $ / shares

$ 0.692

Series 1 warrants | Stock price

Debt

Warrant liability | $ / shares

1.73

Series 1 warrants | Strike price

Debt

Warrant liability | $ / shares

2

Series 1 warrants | Expected life

Debt

Warrant liability

5

Series 1 warrants | Volatility

Debt

Warrant liability

109.25

Series 1 warrants | Risk free rate

Debt

Warrant liability

1.83

Series 1 warrants | Class A units

Debt

Common stock issued and issuable

2,886,500

Warrants issued

2,886,500

Series 1 warrants | Class A units | Underwritten Public Offering

Debt

Number of shares in exchange for each unit

1

Series 1 warrants | Class B units

Debt

Units issued

10,787

Common stock issued and issuable

5,393,500

Series 1 warrants | Class B units | Underwritten Public Offering

Debt

Number of shares in exchange for each unit

500

Series 1 warrants | Class B units | Underwritten Public Offering | Series B convertible preferred stock

Debt

Number of shares issued for preferred stock converted

500

Series 2 warrants

Debt

Warrants issued

8,280,000

Issuance of warrants | $

$ 5,026,000

Impact of modification | $

$ 65,000

Impact of modification previously reported | $

6,000

Term of warrant

5 years

Exercise price (in dollars per share) | $ / shares

$ 0.5227

$ 0.6050

$ 2

$ 2

$ 2

Gross proceeds from issuance of warrants | $

$ 55,000

Net proceeds from issuance of warrants | $

$ 628,000

Issuance costs | $

25,000

Proceeds from Issuance of Warrants | $

$ 55,000

Debt Conversion, Converted Instrument, Shares Issued

90,940

Fair Value Adjustment of Warrants | $

65,000

Warrants exercised | $

$ 1,250,000

$ 90,940

$ 8,280,000

Series 2 warrants | Exercise Agreement

Debt

Aggregate purchase price of warrants | $

$ 1,250,000

$ 1,250,000

Gross proceeds from issuance of warrants | $

653,000

Proceeds from Issuance of Warrants | $

$ 653,000

Series 2 warrants | Exercise Agreement | Minimum

Debt

Exercise price (in dollars per share) | $ / shares

$ 0.5227

$ 0.5227

Series 2 warrants | Exercise Agreement | Maximum

Debt

Exercise price (in dollars per share) | $ / shares

$ 2

Series 2 warrants | Stock price

Debt

Warrant liability | $ / shares

1.73

Series 2 warrants | Strike price

Debt

Warrant liability | $ / shares

2

Series 2 warrants | Expected life

Debt

Warrant liability | $

5

Series 2 warrants | Risk free rate

Debt

Warrant liability

1.83

Series 2 warrants | Series B convertible preferred stock | Exercise Agreement | Minimum

Debt

Exercise price (in dollars per share) | $ / shares

0.4456

0.4456

Series 2 warrants | Series B convertible preferred stock | Exercise Agreement | Maximum

Debt

Exercise price (in dollars per share) | $ / shares

$ 2

$ 2

Series 2 warrants | Underwritten Public Offering

Debt

Number of shares in exchange for each unit

1

Series 2 warrants | Class A units

Debt

Units issued

2,886,500

Common stock issued and issuable

2,886,500

Series 2 warrants | Class B units

Debt

Units issued

10,787

Common stock issued and issuable

5,393,500

Series 2 warrants | Class B units | Underwritten Public Offering

Debt

Number of shares in exchange for each unit

500

Number of shares issued for preferred stock converted

500

Modification of Certain 2019 Bridge Note Warrants [Member]

Debt

Impact of modification previously reported | $

$ 9,000

Exercise price (in dollars per share) | $ / shares

$ 2

$ 0.692

Gross proceeds from issuance of warrants | $

$ 173,000

Proceeds from Issuance of Warrants | $

$ 173,000

Debt Conversion, Converted Instrument, Shares Issued

250,000

Warrants exercised | $

$ 250,000

Modification of the 2019 Bridge Note Warrants and Inducement Offer

Debt

Warrant Exercise Inducement Offer, Warrants To Purchase Common Stock Exchanged

93,750

Warrant Exercise Inducement Offer, Warrants To Purchase Common Stock Issued

93,750

Exercise price (in dollars per share) | $ / shares

$ 2

$ 0.49

Fair Value Adjustment of Warrants | $

$ 165,716

May 2020 Modification of the July 2019 Series 1 Warrants and Inducement Offer

Debt

Warrant Exercise Inducement Offer, Warrants To Purchase Common Stock Exchanged

4,572,040

Exercise price (in dollars per share) | $ / shares

$ 1.40

$ 0.49

Fair Value Adjustment of Warrants | $

$ 284,338

May 2020 Modification of the July 2019 Series 2 Warrants and Inducement Offer

Debt

Impact of modification | $

$ 406,002

Warrant Exercise Inducement Offer, Warrants To Purchase Common Stock Exchanged

4,005,062

Exercise price (in dollars per share) | $ / shares

$ 0.49

$ 2

2019 Exchange Note 2

Debt

Debt Instrument, Face Amount | $

$ 2,297,000

Warrants - PIPE Financing Warra

Warrants - PIPE Financing Warrants (Details)	Mar. 23, 2020USD ($)	Dec. 31, 2019USD ($)$ / sharesshares	Jun. 30, 2020USD ($)shares	Dec. 31, 2019USD ($)$ / sharesitemshares
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Warrants to purchase (in shares) | shares			9,580
Aggregate purchase price of warrants		$ 3,000	$ 4,086,000	$ 3,000
Proceeds from issuance of warrants	$ 653,000
Issuance of common stock in PIPE financing, net of issuance costs of $51			$ 668,000
PIPE Financing Warrants, Dec 2019
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Exercise price (in dollars per share) | $ / shares		$ 0.78		$ 0.78
Warrant exercisable period after, issuance date		6 months
Term of warrant		5 years		5 years
Proceeds from issuance of warrants				$ 1,500,000
Number of securities | item				2
Issuance of common stock in PIPE financing, net of issuance costs of $51				$ 1,035,000
Issuance of warrants		$ 686,000		$ 465,000
PIPE Financing Warrants, Dec 2019 | Maximum
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Warrants to purchase (in shares) | shares		1,250,000		1,250,000
Aggregate purchase price of warrants		$ 1,500,000		$ 1,500,000
Private placement | PIPE Financing Warrants, Dec 2019
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Unregistered shares issued | shares		2,500,000
Stock price | PIPE Financing Warrants, Dec 2019
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Warrant liability | $ / shares		0.62		0.62
Strike price | PIPE Financing Warrants, Dec 2019
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Warrant liability | $ / shares		0.78		0.78
Expected life | PIPE Financing Warrants, Dec 2019
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Warrant liability		5		5
Volatility | PIPE Financing Warrants, Dec 2019
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Warrant liability		143		143
Risk free rate | PIPE Financing Warrants, Dec 2019
Convertible Promissory Notes and Common Stock Warrants [Line Items]
Warrant liability		2.42		2.42

Convertible Preferred Stock (De

Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Shares Authorized	10,000,000	10,000,000
Issued	5,532,460	5,537,062
Outstanding	5,534,431	5,537,062
Carrying Value	$ 11,794	$ 11,607
Series A
Class of Stock [Line Items]
Shares Authorized	5,524,926	5,524,926
Issued	5,524,926	5,524,926
Outstanding	5,524,926	5,524,926
Carrying Value	$ 10,878	$ 9,895
Liquidation Preference per Share	$ 1.665	$ 1.665
Series B convertible preferred stock
Class of Stock [Line Items]
Shares Authorized	11,000	11,000
Issued	0	1,971
Outstanding	0	1,971
Carrying Value		$ 476
Series B-1 convertible preferred stock
Class of Stock [Line Items]
Shares Authorized	63	63
Issued	0	0
Outstanding	0	0
Series B-2 convertible preferred stock
Class of Stock [Line Items]
Shares Authorized	10,165	10,165
Issued	7,534	10,165
Outstanding	7,534	10,165
Carrying Value	$ 916	$ 1,236
Non designated
Class of Stock [Line Items]
Shares Authorized	4,453,846	4,453,846
Issued	0	0
Outstanding	0	0

Convertible Preferred Stock - S

Convertible Preferred Stock - Series A Redeemable Convertible Preferred Stock (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2020	Mar. 31, 2018	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Amount of shares issued						$ 668,000
Carrying Value			$ 11,794,000			11,794,000		$ 11,607,000
Accretion to redemption value of redeemable preferred stock			(503,000)			(983,000)
Forecast | Maximum
Product revenue					$ 22,000,000
Average VWAP of common stock for the 30 days prior to Measurement Date					$ 105
Series A convertible participating preferred stock
Redemption value			$ 12,738,822			$ 12,738,822		12,738,822
Carrying Value							$ 10,878,000	$ 9,895,000
Redemption price per share			$ 2.3057			$ 2.3057
Sagard Capital Partners, L.P. | Series A convertible participating preferred stock
Number of shares issued for each convertible preferred stock		473,565		473,565
Maximum period from date of issuance		1 year
Effective conversion price	$ 19.425	$ 19.425
Second Amendment to Note Purchase Agreement and Notes | Sagard Capital Partners, L.P. | Series A convertible participating preferred stock | Private placement
Shares issued (in shares)		5,524,926
Preferred stock, par value (in dollars per share)		$ 0.0001		$ 0.0001
Amount of shares issued				$ 9,000,000
Gross proceeds from the issuance of common stock				$ 9,199,000

Convertible Preferred Stock -_2

Convertible Preferred Stock - Series B-1 Convertible Preferred Stock (Details) - USD ($)	Mar. 23, 2020	Mar. 05, 2020	Oct. 09, 2019	Oct. 03, 2019	Jul. 23, 2019	Mar. 31, 2020	Feb. 29, 2020	Jan. 31, 2020	Dec. 31, 2019	Oct. 31, 2019	Jul. 31, 2019	Aug. 31, 2019	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Mar. 22, 2020	Mar. 04, 2020	Sep. 30, 2019
Issuance costs														$ 51,000	$ 3,000
Proceeds from Issuance of Warrants	$ 653,000
Number of securities issued on conversion													9,580	9,580
Series B convertible preferred stock inducement expense														$ 1,647,000
Issued									5,537,062				5,532,460	5,532,460
Convertible preferred stock, shares outstanding									5,537,062				5,534,431	5,534,431
Warrants and Rights Outstanding									$ 3,000				$ 4,086,000	$ 4,086,000
Series B convertible preferred stock
Stated or par value											$ 1,000
Number of shares issued for each convertible preferred stock											500
Gross proceeds											$ 4,240,000
Number of securities issued on conversion									985,500
Shares converted								2,631				8,816	1,971
Beneficial Conversion Feature					$ 4,240,000
Deemed dividend					$ 4,240,000
Issuance of common stock upon conversion (in shares)								499,890
Issued									1,971				0	0
Convertible preferred stock, shares outstanding									1,971				0	0
Series B-1 convertible preferred stock
Exercise price (in dollars per share)										$ 1.40
Aggregate proceeds										$ 1,750,000
Shares issued (in shares)										63
Proceeds from Issuance of Warrants			$ 1,750,000
Number of securities issued on conversion			63	63						1
Beneficial Conversion Feature			$ 385,000	$ 146,000
Deemed dividend			$ 385,000	$ 146,000
Issued									0				0	0
Convertible preferred stock, shares outstanding									0				0	0
Common Stock
Issuance of common stock upon conversion (in shares)									630,063			4,408,000
Series 1 warrants
Gross proceeds											$ 3,274,000
Warrant exercise agreement										1,250,000
Preferred stock, par value (in dollars per share)										$ 12,000
Number of warrants are converted for each share										19,841
Exercise price (in dollars per share)											$ 2							$ 1.40
Warrants exercised			1,250,000	1,250,000
Proceeds from Issuance of Warrants							$ 144,000
Series 1 warrants | Series B-1 convertible preferred stock
Warrant Exercise During Period, Shares			1,250,000	1,250,000
Series 2 warrants
Gross proceeds											$ 3,274,000
Issuance costs	$ 25,000
Exercise price (in dollars per share)	$ 0.5227	$ 0.6050									$ 2					$ 2	$ 2
Proceeds from Issuance of Warrants		$ 55,000
Class A units | Series 1 warrants
Common stock issued and issuable											2,886,500
Class A units | Series 2 warrants
Units issued											2,886,500
Common stock issued and issuable											2,886,500
Class B units
Units issued											10,787
Public offering price											$ 1,000
Gross proceeds											$ 10,787,000
Issuance costs											$ 1,635,000
Class B units | Series B convertible preferred stock
Units issued											10,787
Class B units | Series 1 warrants
Units issued											10,787
Common stock issued and issuable											5,393,500
Class B units | Series 2 warrants
Units issued											10,787
Common stock issued and issuable											5,393,500
Underwritten Public Offering | Series 2 warrants
Number of shares in exchange for each unit											1
Underwritten Public Offering | Class A units
Units issued											2,886,500
Public offering price											$ 2
Number of shares in exchange for each unit											1
Number of warrants are converted for each share											1
Underwritten Public Offering | Class A units | Series 1 warrants
Number of shares in exchange for each unit											1
Underwritten Public Offering | Class B units
Units issued											10,787
Public offering price											$ 1,000
Underwritten Public Offering | Class B units | Series B convertible preferred stock
Number of shares in exchange for each unit											1
Number of shares issued for each convertible preferred stock											500
Number of warrants are converted for each share					500
Underwritten Public Offering | Class B units | Series 1 warrants
Number of shares in exchange for each unit											500
Underwritten Public Offering | Class B units | Series 1 warrants | Series B convertible preferred stock
Number of shares issued for each convertible preferred stock											500
Underwritten Public Offering | Class B units | Series 2 warrants
Number of shares in exchange for each unit											500
Number of shares issued for each convertible preferred stock											500
Exercise Agreement | Series 2 warrants
Proceeds from Issuance of Warrants						$ 653,000
Warrants and Rights Outstanding						$ 1,250,000
Minimum | Series 1 warrants
Exercise price (in dollars per share)							$ 2
Minimum | Exercise Agreement | Series 2 warrants
Exercise price (in dollars per share)						$ 0.5227
Minimum | Exercise Agreement | Series 2 warrants | Series B convertible preferred stock
Exercise price (in dollars per share)						0.4456
Maximum | Series 1 warrants
Exercise price (in dollars per share)							$ 0.692
Maximum | Exercise Agreement | Series 2 warrants
Exercise price (in dollars per share)													$ 2	$ 2
Maximum | Exercise Agreement | Series 2 warrants | Series B convertible preferred stock
Exercise price (in dollars per share)						$ 2

Convertible Preferred Stock -_3

Convertible Preferred Stock - Series B-2 Convertible Preferred Stock (Details)	1 Months Ended	6 Months Ended
	Dec. 31, 2019shares	Jun. 30, 2020USD ($)$ / sharesshares
Shares Authorized	10,000,000	10,000,000
Series B-2 convertible preferred stock
Conversion ratio		190
Series B-2 convertible preferred stock
Number of shares for which unexercised prepaid forward contracts are exercisable	1,236,223
Shares issued in exchange of convertible preferred stock	695,127
Shares Authorized	10,165	10,165
Conversion ratio		190
Value of shares issued on conversion | $		$ 153.90
Conversion Price (in dollars per share) | $ / shares		$ 0.81

Stockholders' Equity (Details)

Stockholders' Equity (Details)	Jun. 03, 2019	Jun. 30, 2020Voteshares	Dec. 31, 2019shares
Stockholders' Equity
Number of voting rights entitled for each share of common stock held | Vote		1
Reverse stock split ratio	0.015
Shares of common stock reserved for issuance
Options issued and outstanding		4,458,419	3,902,675
Options available for grant under stock option plans		710,299	479,829
RSUs awards issued and outstanding		5,613	5,613
Warrants issued and outstanding		16,991,395	19,421,892
Convertible warrants		9,580
Total		24,070,825	27,200,498
2014 Plan
Shares of common stock reserved for issuance
Options issued and outstanding		4,455,101	3,902,675
Options available for grant under stock option plans			479,829
RSUs awards issued and outstanding		5,613	5,613
Inducement options issued and outstanding
Shares of common stock reserved for issuance
Options issued and outstanding		3,392	74
Blank check preferred stock
Stockholders' Equity
Common stock, shares authorized		10,000,000
Series A convertible preferred stock
Shares of common stock reserved for issuance
Convertible warrants		473,565	473,565
Series B convertible preferred stock
Shares of common stock reserved for issuance
Convertible warrants			985,500
Series B-2 convertible preferred stock
Shares of common stock reserved for issuance
Convertible warrants		1,431,460	1,931,350
Common Stock
Stockholders' Equity
Common stock, shares authorized		210,000,000
Common Stock | Common stock - voting
Stockholders' Equity
Common stock, shares authorized		150,000,000	150,000,000
Common Stock | Common stock - non-voting
Stockholders' Equity
Common stock, shares authorized		50,000,000	50,000,000
Convertible non-voting common stock
Stockholders' Equity
Reverse stock split ratio		1,050

Stockholders' Equity - Transact

Stockholders' Equity - Transactions with Oasis Capital and Underwritten Public Offering (Details)

Mar. 23, 2020USD ($)

Mar. 05, 2020USD ($)

Jan. 07, 2019$ / sharesshares

Apr. 30, 2020USD ($)shares

Mar. 31, 2020USD ($)D$ / sharesshares

Feb. 29, 2020USD ($)

Dec. 31, 2019shares

Jul. 31, 2019USD ($)

Mar. 31, 2019USD ($)$ / sharesshares

Jun. 30, 2020USD ($)shares

Jun. 30, 2019USD ($)

Dec. 31, 2019USD ($)

Amount of shares issued

$ 668,000

Issuance of common stock for Tempesta Settlement, October 2019

$ 8,224,000

Gross proceeds from issuance of warrants

$ 653,000

Issuance costs

51,000

$ 3,000

Series 1 warrants

Gross proceeds from issuance of warrants

$ 144,000

Series 2 warrants

Gross proceeds from issuance of warrants

$ 55,000

Net proceeds from issuance of warrants

628,000

Issuance costs

$ 25,000

PIPE Financing Warrants, Dec 2019

Amount of shares issued

$ 1,035,000

Gross proceeds from issuance of warrants

$ 1,500,000

PIPE Financing Warrants, Dec 2019 | Private placement

Issuance of common stock (In shares) | shares

2,500,000

PIPE Financing Warrants, March 2020

Gross proceeds from issuance of warrants

$ 720,000

Net proceeds from issuance of warrants

668,578

Issuance costs

$ 51,422

PIPE Financing Warrants, March 2020 | Private placement

Issuance of common stock (In shares) | shares

1,714,283

Class B units

Issuance costs

$ 1,635,000

Securities purchase agreement

Price per share | $ / shares

$ 52.50

Common stock, shares issued | shares

190,476

Securities purchase agreement | Registered Direct Offering

Price per share | $ / shares

$ 14

Gross proceeds from issuance

$ 266,000

$ 266,000

Issuance of common stock (In shares) | shares

19,019

19,019

Securities purchase agreement | Original Equity Line Offering

Common Stock, Shares Authorized | shares

76,190

Number of shares offered | shares

76,190

Number of additional shares authorized | shares

114,286

Common stock, shares issued | shares

76,190

Securities purchase agreement | Option

Common stock, shares issued | shares

114,286

Equity Line of Credit

Gross proceeds from issuance

$ 22,627

Issuance of common stock (In shares) | shares

52,000

Amount of shares issued

$ 200,000

Term of equity purchase agreement

36 months

Shares issued in settlement of commitment fee | shares

68,807

Fair value of equity issued

$ 33,027

Equity Line of Credit | Maximum

Aggregate amount of put option on any put date or clearing date

$ 500,000

Aggregate amount of equity purchase agreement

$ 2,000,000

Option 1 Put | Equity Line of Credit

Issuance of common stock (In shares) | shares

200,000

Percentage of average trading volume

20.00%

Trading days | D

10

Share Price | $ / shares

$ 0.436

Option 2 Puts | Equity Line of Credit

Percentage of average trading volume

10.00%

Share Price | $ / shares

$ 0.436

Stock Incentive Plans - Summary

Stock Incentive Plans - Summary of Stock Incentive Plans (Details) - USD ($)	May 12, 2015	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Jun. 30, 2020	Jun. 16, 2020	Dec. 31, 2019
Stock Based Compensation
Option outstanding		4,458,419		3,902,675	4,458,419		3,902,675
Shares available for grant		710,299		479,829	710,299		479,829
Shares Available for Grant
Beginning balance (in shares)		479,829
Ending balance (in shares)		710,299		479,829
Stock Options Outstanding
Beginning balance (in shares)		3,902,675
Options granted (in shares)		853,318
Options cancelled (in shares)		(297,559)
Options canceled not rolled back into the 2013 Plan (in shares)		(15)
Ending balance (in shares)		4,458,419		3,902,675
RSUs Outstanding
Beginning balance (in shares)		5,613
Ending balance (in shares)		5,613		5,613
Weighted Average Remaining Contractual Life (Years)
Weighted Average Remaining Contractual Life (Years)		9 years 1 month 13 days		9 years 6 months 22 days
Options vested, exercisable and expected to vest
Weighted average grant date fair value of stock options granted (in dollars per share)		$ 0.41	$ 17.05
Number of options vested (in shares)		702,364	10,598
Weighted average fair value of options vested on grant date		$ 2.21	$ 132.26
Common Stock, Capital Shares Reserved for Future Issuance					24,070,825		27,200,498
Aggregate Intrinsic Value ,outstanding					$ 31
Inducement options issued and outstanding
Stock Based Compensation
Option outstanding		3,392		74	3,392		74
Stock Options Outstanding
Beginning balance (in shares)		74
Ending balance (in shares)		3,392		74
2013 Plan | Stock options
Stock Based Compensation
Option shares outstanding					384
Stock Options Outstanding
Options granted (in shares)		0
2014 Plan
Stock Based Compensation
Option outstanding		4,455,101		3,902,675	4,455,101		3,902,675
Shares available for grant		479,829		479,829			479,829
Shares Available for Grant
Beginning balance (in shares)		479,829
Additional shares authorized (in shares)		786,229
Options granted (in shares)		(853,318)
Options cancelled (in shares)		297,559
Ending balance (in shares)				479,829
Stock Options Outstanding
Beginning balance (in shares)		3,902,675
Ending balance (in shares)		4,455,101		3,902,675
RSUs Outstanding
Beginning balance (in shares)		5,613
Ending balance (in shares)		5,613		5,613
Weighted Average Stock Option Exercise Price
Beginning balance (in dollars per share)		$ 5.20
Options granted (in dollars per share)		0.45
Options cancelled (in dollars per share)		3.75
Ending balance (in dollars per share)		$ 4.39		$ 5.20
Options vested, exercisable and expected to vest
Options vested and exercisable (in shares)					1,549,977
Options vested and exercisable (in dollars per share)					$ 9.31
Options vested and exercisable (in years)		8 years 10 months 6 days
Options vested and expected to vest (in shares)					4,030,402
Options vested and expected to vest (in dollars per share)					$ 4.71
Options vested and expected to vest (in years)		9 years 1 month 6 days
Options exercised (in shares)		0
Aggregate Intrinsic Value, Vested and expected to vest					$ 28
2014 Plan | Stock options
Stock Based Compensation
Increase in share reserve based on outstanding number of shares (as a percent)	2.00%
Option outstanding		4,455,101			4,455,101
Shares available for grant		213,617			213,617
Shares Available for Grant
Ending balance (in shares)		213,617
Stock Options Outstanding
Ending balance (in shares)		4,455,101
2020 New Employee Inducement Award Plan
Stock Based Compensation
Option outstanding		3,318			3,318
Shares available for grant		496,682			496,682
Shares Available for Grant
Ending balance (in shares)		496,682
Stock Options Outstanding
Ending balance (in shares)		3,318
Options vested, exercisable and expected to vest
Common Stock, Capital Shares Reserved for Future Issuance						500,000
Common Stock
Options vested, exercisable and expected to vest
Share Price					$ 0.485

Stock Incentive Plans - Stock-B

Stock Incentive Plans - Stock-Based Compensation (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock Based Compensation
Total stock-based compensation expense	$ 749,000	$ 446,000	$ 1,509,000	$ 873,000
Research and development expense
Stock Based Compensation
Total stock-based compensation expense	203,000	149,000	405,000	216,000
Sales and marketing expense
Stock Based Compensation
Total stock-based compensation expense	57,000	12,000	113,000	46,000
General and administrative expense
Stock Based Compensation
Total stock-based compensation expense	489,000	$ 285,000	991,000	$ 611,000
Stock options and RSUs
Stock Based Compensation
Unrecognized stock-based compensation expense	$ 3,693,000		$ 3,693,000
Expected weighted average period to be recognized			1 year 7 months 21 days
Employee stock options
Estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model
Weighted-average expected term (years)		5 years 9 months 18 days	5 years
Minimum | Employee stock options
Estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model
Weighted-average volatility (as a percent)		108.30%	150.10%
Risk-free interest rate (as a percent)		2.50%	0.30%
Maximum | Employee stock options
Estimated grant-date fair value of stock options calculated using the Black-Scholes option-pricing model
Weighted-average volatility (as a percent)		108.50%	172.40%
Risk-free interest rate (as a percent)		2.60%	0.50%

Stock Incentive Plans - 401(k)

Stock Incentive Plans - 401(k) Plan (Details)	6 Months Ended
	Jun. 30, 2020USD ($)
Stock Incentive Plans
Employer contributions to the plan	$ 0

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Calculation of basic and diluted net loss per common share
Net loss attributable to common shareholders (basic and diluted)	$ (10,597)	$ (16,721)	$ (19,013)	$ (25,025)
Shares used to compute net loss per common share, basic and diluted	23,890,931	1,106,374	19,516,419	801,482
Net loss per share attributable to common stockholders, basic and diluted	$ (0.44)	$ (15.11)	$ (0.97)	$ (31.22)

Net Loss Per Share - Excluded F

Net Loss Per Share - Excluded From Calculation (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	23,360,526	1,757,436
Options issued and outstanding
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	4,455,101	39,481
Inducement options issued and outstanding
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	3,392	906
Restricted stock units issued and outstanding
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	5,613	5,613
Warrants issued and outstanding
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	16,991,395	1,237,871
Series A convertible preferred stock
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	473,565	473,565
Series B-2 convertible preferred stock
Outstanding common stock equivalents have been excluded from diluted net loss per common share
Outstanding common stock equivalents have been excluded from diluted net loss per common share (in shares)	1,431,460

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Information
Number of reportable segments | segment			2
Revenue from external customers	$ 3,167	$ 1,706	$ 4,036	$ 3,295
Segment net loss	(9,238)	(16,721)	(17,174)	(25,025)
Segment assets	37,580		37,580		$ 36,410
Less: investment in subsidiary	(29,241)		(29,241)		(29,241)
Less: Intercompany loan	(38,453)		(38,453)		(34,950)
Human Health
Segment Information
Segment net loss	(1,609)	(9,838)	(4,809)	(12,631)
Segment assets	33,973		33,973		32,432
Animal Health
Segment Information
Segment net loss	(7,629)	(6,883)	(12,365)	(12,394)
Segment assets	71,301		71,301		68,169
Product revenue, net
Segment Information
Revenue from external customers	3,167	1,706	4,036	3,295
Product revenue, net | Human Health
Segment Information
Revenue from external customers	3,153	1,685	3,988	3,228
Product revenue, net | Animal Health
Segment Information
Revenue from external customers	14	$ 21	48	$ 67
Operating Segments
Segment Information
Segment assets	$ 105,274		$ 105,274		$ 100,601

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	Jul. 10, 2020	Jul. 21, 2020
Third Amended And Restated Certificate Of Incorporation
Subsequent Events.
Common Stock, Shares Authorized		130,000,000
Subsequent event
Subsequent Events.
Common Stock, Shares Authorized		130,000,000
Subsequent event | Iliad | Royalty Interest Purchase Agreement Amendment
Subsequent Events.
Payment of royalty	$ 0
Percentage of increase in royalty	10.00%