Zosano Pharma (ZSANQ) 10-Q 13 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Nov. 10, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-36570
Entity Registrant Name	ZOSANO PHARMA CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-4488360
Entity Address, Address Line One	34790 Ardentech Court
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94555
City Area Code	510
Local Phone Number	745-1200
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	ZSAN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		102,066,218
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001587221
Current Fiscal Year End Date	--12-31

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 43,554	$ 6,316
Prepaid expenses and other current assets	615	497
Total current assets	44,169	6,813
Restricted cash	455	455
Property and equipment, net	30,621	24,636
Operating lease right-of-use assets	5,204	5,763
Other long-term assets	3	3
Total assets	80,452	37,670
Current liabilities:
Accounts payable	1,972	4,356
Accrued compensation	1,982	2,015
Build-to-suit obligation, current portion	4,293	4,554
Operating lease liabilities, current portion	1,332	1,140
Paycheck Protection Program loan, current portion	201	0
Other accrued liabilities	3,394	4,172
Total current liabilities	13,174	16,237
Build-to-suit obligation, long-term portion, net of debt issuance costs and discount	5,447	6,095
Operating lease liabilities, long-term portion	5,058	5,931
Paycheck Protection Program loan, long-term portion	1,416	0
Other liabilities	113	15
Total liabilities	25,208	28,278
Commitments and contingencies (note 8)
Stockholders’ equity:
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding as of September 30, 2020 and December 31, 2019	0	0
Common stock, $0.0001 par value; 250,000,000 shares authorized; 102,066,218 and 23,503,214 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	10	2
Additional paid-in capital	379,326	308,211
Accumulated deficit	(324,092)	(298,821)
Total stockholders’ equity	55,244	9,392
Total liabilities and stockholders’ equity	$ 80,452	$ 37,670

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares issued (in shares)	102,066,218	23,503,214
Common stock, shares outstanding (in shares)	102,066,218	23,503,214

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 0	$ 0	$ 0	$ 0
Operating expenses:
Research and development	5,824	6,486	16,270	19,742
General and administrative	2,704	3,071	8,552	8,709
Total operating expenses	8,528	9,557	24,822	28,451
Loss from operations	(8,528)	(9,557)	(24,822)	(28,451)
Other income (expense):
Interest income	2	41	17	203
Interest expense	(165)	(281)	(561)	(357)
Other income (expense), net	4	(66)	95	(44)
Loss before provision for income taxes	(8,687)	(9,863)	(25,271)	(28,649)
Provision for income taxes	0	0	0	0
Net loss	(8,687)	(9,863)	(25,271)	(28,649)
Unrealized gain on marketable securities, net of tax	0	0	0	5
Comprehensive loss	$ (8,687)	$ (9,863)	$ (25,271)	$ (28,644)
Net loss per common share – basic and diluted (in USD per share)	$ (0.11)	$ (0.55)	$ (0.45)	$ (1.84)
Weighted-average shares used in computing net loss per common share – basic and diluted (in shares)	77,883,158	17,832,092	56,437,417	15,579,387

CONDENSED STATEMENTS OF CHANGES

CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Series D Warrants	Series C Warrants	Series E Warrants	Registered Direct Offering	Public Stock Offering	At-the-market Offering	Common Stock	Common StockSeries D Warrants	Common StockSeries C Warrants	Common StockSeries E Warrants	Common StockRegistered Direct Offering	Common StockPublic Stock Offering	Common StockAt-the-market Offering	Additional Paid-In Capital	Additional Paid-In CapitalSeries C Warrants	Additional Paid-In CapitalSeries E Warrants	Additional Paid-In CapitalRegistered Direct Offering	Additional Paid-In CapitalPublic Stock Offering	Additional Paid-In CapitalAt-the-market Offering	Accumulated   Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2018								11,973,039
Beginning balance at Dec. 31, 2018	$ 18,710							$ 1							$ 279,946						$ (261,232)	$ (5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	361														361
Unrealized gain (loss) on marketable securities, net of tax	6																					6
Net loss	(9,426)																				(9,426)
Ending balance (in shares) at Mar. 31, 2019								11,973,039
Ending balance at Mar. 31, 2019	9,651							$ 1							280,307						(270,658)	1
Beginning balance (in shares) at Dec. 31, 2018								11,973,039
Beginning balance at Dec. 31, 2018	18,710							$ 1							279,946						(261,232)	(5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on marketable securities, net of tax	5
Net loss	(28,649)
Ending balance (in shares) at Sep. 30, 2019								18,230,803
Ending balance at Sep. 30, 2019	10,379							$ 2							300,258						(289,881)	0
Beginning balance (in shares) at Mar. 31, 2019								11,973,039
Beginning balance at Mar. 31, 2019	9,651							$ 1							280,307						(270,658)	1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)								5,750,000
Issuance of common stock	18,331							$ 1							18,330
Stock-based compensation	386														386
Unrealized gain (loss) on marketable securities, net of tax	(1)																					(1)
Net loss	(9,360)																				(9,360)
Ending balance (in shares) at Jun. 30, 2019								17,723,039
Ending balance at Jun. 30, 2019	19,007							$ 2							299,023						(280,018)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)														507,764
Issuance of common stock							$ 812													$ 812
Stock-based compensation	423														423
Unrealized gain (loss) on marketable securities, net of tax	0
Net loss	(9,863)																				(9,863)
Ending balance (in shares) at Sep. 30, 2019								18,230,803
Ending balance at Sep. 30, 2019	$ 10,379							$ 2							300,258						(289,881)	0
Beginning balance (in shares) at Dec. 31, 2019	23,503,214							23,503,214
Beginning balance at Dec. 31, 2019	$ 9,392							$ 2							308,211						(298,821)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)												11,903,506	11,992,307	2,151,346
Issuance of common stock		$ 0			$ 10,211	$ 8,264	2,706					$ 1	$ 2					$ 10,210	$ 8,262	2,706
Issuance of common stock upon exercise of warrants (in shares)									2,161,539	2,649,723
Issuance of common stock upon exercise of warrants			$ 1,722													$ 1,722
Stock-based compensation	364														364
Net loss	(8,689)																				(8,689)
Ending balance (in shares) at Mar. 31, 2020								54,361,635
Ending balance at Mar. 31, 2020	$ 23,970							$ 5							331,475						(307,510)	0
Beginning balance (in shares) at Dec. 31, 2019	23,503,214							23,503,214
Beginning balance at Dec. 31, 2019	$ 9,392							$ 2							308,211						(298,821)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on marketable securities, net of tax	0
Net loss	$ (25,271)
Ending balance (in shares) at Sep. 30, 2020	102,066,218							102,066,218
Ending balance at Sep. 30, 2020	$ 55,244							$ 10							379,326						(324,092)	0
Beginning balance (in shares) at Mar. 31, 2020								54,361,635
Beginning balance at Mar. 31, 2020	23,970							$ 5							331,475						(307,510)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)														1,550,231
Issuance of common stock							1,161							$ 1						1,160
Issuance of common stock upon exercise of warrants (in shares)										1,333,385
Issuance of common stock upon exercise of warrants			867													867
Stock-based compensation	361														361
Net loss	(7,895)																				(7,895)
Ending balance (in shares) at Jun. 30, 2020								57,245,251
Ending balance at Jun. 30, 2020	18,464							$ 6							333,863						(315,405)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock (in shares)													15,937,130	11,686,795
Issuance of common stock						$ 20,387	$ 12,366						$ 1	$ 1					$ 20,386	$ 12,365
Issuance of common stock upon exercise of warrants (in shares)										10,003,038	7,194,004
Issuance of common stock upon exercise of warrants			$ 6,502	$ 5,773						$ 1	$ 1					$ 6,501	$ 5,772
Stock-based compensation	439														439
Unrealized gain (loss) on marketable securities, net of tax	0
Net loss	$ (8,687)																				(8,687)
Ending balance (in shares) at Sep. 30, 2020	102,066,218							102,066,218
Ending balance at Sep. 30, 2020	$ 55,244							$ 10							$ 379,326						$ (324,092)	$ 0

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (25,271)	$ (28,649)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	1,164	1,170
Change in operating lease right-of-use assets	712	619
Depreciation and amortization	993	518
Effective interest on financing obligations	207	208
Other	0	61
Change in operating assets and liabilities:
Prepaid expenses and other assets	(179)	(554)
Accounts payable	(1,915)	1,086
Accrued compensation and other accrued liabilities	(312)	(1,108)
Operating lease liabilities	(835)	(701)
Net cash used in operating activities	(25,436)	(27,350)
Cash flows from investing activities:
Proceeds from maturities of marketable securities	0	17,400
Purchases of marketable securities	0	(3,476)
Purchases of property and equipment	(7,711)	(10,939)
Net cash (used in) provided by investing activities	(7,711)	2,985
Cash flows from financing activities:
Proceeds from Paycheck Protection Program loan	1,610	0
Proceeds from build-to-suit obligation, net of issuance costs	0	4,550
Principal payments on financing obligations	(1,482)	(2,083)
Net cash provided by financing activities	70,385	21,717
Net increase (decrease) in cash, cash equivalents and restricted cash	37,238	(2,648)
Cash, cash equivalents and restricted cash at beginning of period	6,771	9,595
Cash, cash equivalents and restricted cash at end of period	44,009	6,947
Supplemental cash flow information:
Cash paid for interest	738	580
Cash paid for taxes	12	1
Non-cash investing and financing activities:
Acquisition of property and equipment under accounts payable and other accrued liabilities	3,237	3,571
Capitalized effective interest	353	410
Unpaid offering costs	425	107
Asset retirement obligation	97	0
Right-of-use assets acquired under finance lease obligations	0	22
Series C Warrants
Cash flows from financing activities:
Proceeds from exercises of warrants	9,091	0
Series E Warrants
Cash flows from financing activities:
Proceeds from exercises of warrants	5,773	0
Public Offering
Cash flows from financing activities:
Proceeds from offering of securities, net of costs	20,728	18,331
At-the-market Offering
Cash flows from financing activities:
Proceeds from offering of securities, net of costs	16,266	919
Registered Direct Offering
Cash flows from financing activities:
Proceeds from offering of securities, net of costs	10,135	0
Public Stock Offering
Cash flows from financing activities:
Proceeds from offering of securities, net of costs	$ 8,264	$ 0

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation The Company Zosano Pharma Corporation (the “Company”) is a clinical-stage biopharmaceutical company focused on providing rapid systemic administration of therapeutics and other bioactive molecules to patients using its proprietary transdermal microneedle system ("System"). The Company filed a 505(b)(2) New Drug Application (“NDA”) for Qtrypta™ (M207) (“Qtrypta”) with the U.S. Food and Drug Administration (“FDA”) on December 20, 2019, and on October 20, 2020, the Company received a Complete Response Letter (“CRL”) from FDA for the NDA. The CRL cited inconsistent zolmitriptan exposure levels observed across clinical pharmacology studies, which had been previously identified in the FDA’s discipline review letter received by the Company in September. Specifically, the CRL noted differences in zolmitriptan exposures observed between subjects receiving different lots of Qtrypta in the Company’s trials and inadequate pharmacokinetic bridging between the lots that made interpretation of some safety data unclear. The CRL referenced unexpected high plasma concentrations of zolmitriptan observed in five study subjects enrolled in the Company’s pharmacokinetic studies. The FDA recommended that the Company conduct a repeat bioequivalence study between three of the lots used during development. The NDA included data on a total of 774 subjects across 5 trials who were administered or dosed with Qtrypta. The CRL noted that additional product quality validation data, which were planned to be submitted following approval, if received, were required to be submitted with the application. In addition, the CRL mentioned that due to U.S. Government and/or Agency-wide restrictions on travel, inspections of the Company’s contract manufacturing facilities were not able to be conducted but would be required before the application may be approved. The Company does not anticipate realizing product revenues until FDA approves the NDA and the Company begins commercializing Qtrypta, which events may never occur. Basis of Presentation The accompanying condensed financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information, the instructions to Form 10-Q and Regulation S-X. They do not include all the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, or any other subsequent period. These financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2019, included in the Company’s annual report on Form 10-K and filed with the United States Securities and Exchange Commission (“SEC”) on March 13, 2020. Use of Estimates The preparation of the accompanying condensed financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the condensed financial statements, and the reported amounts of expenses during the periods reported. Actual results could differ from those estimates. Liquidity and Substantial Doubt in Going Concern Since inception, the Company has incurred recurring operating losses and negative cash flows from operating activities, and as of September 30, 2020, had an accumulated deficit of $324.1 million. As of September 30, 2020, the Company had $43.6 million in cash and cash equivalents. Presently, the Company does not have sufficient cash and cash equivalents to enable it to fund its anticipated level of operations and meet its obligations as they become due within twelve months following the date of issuance of this Quarterly Report on Form 10-Q. The aforementioned factors raise substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company filed a shelf registration statement on Form S-3 with the SEC, which was declared effective by the SEC on April 16, 2020. This shelf registration statement provides the Company with the ability to issue common stock and other securities as described in the registration statement from time to time up to an aggregate amount of $74.5 million. On August 31, 2020, the Company entered into an underwriting agreement with BTIG, LLC (“BTIG”) pursuant to which the Company issued and sold 15,937,130 shares of its common stock to BTIG at a price of $1.304 per share. The offering closed on September 3, 2020. The Company received net proceeds of approximately $20.4 million after deducting estimated expenses payable by the Company in connection with the offering. The shares were sold pursuant to the Company’s effective shelf registration statement, the base prospectus filed as part of such registration statement and the prospectus supplement dated August 31, 2020. On June 8, 2020, the Company entered into a sales agreement with BTIG, as sales agent, to establish an at-the-market offering program (“2020 ATM”), under which the Company is permitted to offer and sell, from time to time, shares of common stock having a maximum aggregate offering price of up to $20.0 million. The Company is required to pay BTIG a commission of 3% of the gross proceeds from the sale of shares and also agreed to provide BTIG with customary indemnification rights. During the quarter ended September 30, 2020, the Company issued and sold 11,686,795 shares of its common stock at an average price of $1.09 per share under the 2020 ATM program with aggregate net proceeds of approximately $12.4 million after BTIG's commission and estimated offering expenses of approximately $360,000. During the nine months ended September 30, 2020, the Company issued and sold 13,237,026 shares of its common stock at an average price of $1.07 per share under the 2020 ATM program with aggregate net proceeds of approximately $13.5 million after BTIG's commission and estimated offering expenses of approximately $660,000. The shares were sold pursuant to the Company’s effective shelf registration statement, the base prospectus filed as part of such registration statement and the prospectus supplement dated June 8, 2020. On May 27, 2020, the Company entered into the First Amendment to Lease Documents (the “Trinity Amendment”) with Trinity Funding 1, LLC (“Trinity”), which, among other things, extended the term of each lease schedule from a 36-month term to a 42-month term by providing for an interest-only period from May 2020 through October 2020. Principal payments recommenced on November 1, 2020. Additionally, the Trinity Amendment removed all end-of-term options other than the option to purchase the equipment at 12% of equipment cost at the end of each 42-month-term. On April 21, 2020, the Company executed a promissory note (the “PPP Note”) evidencing an unsecured loan in the amount of $1.6 million under the Paycheck Protection Program (the “PPP Loan”). The Paycheck Protection Program (“PPP”) was established under the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) and is administered by the U.S. Small Business Administration (“SBA”). Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of loans granted under the PPP. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and the maintenance of the Company's payroll levels. The Company applied for forgiveness of the $1.6 million loan amount and accrued interest on October 4, 2020, however, no assurance is provided that the Company will obtain forgiveness of the PPP Loan in whole or in part. On March 4, 2020, the Company entered into a securities purchase agreement with certain institutional investors for the issuance and sale in a registered direct offering (the “March 2020 Offering”) of (i) 11,903,506 shares of the Company's common stock and (ii) Series E Warrants to purchase up to a total of 11,903,506 shares of common stock at an offering price of $0.9275 per share and accompanying warrant. The Series E Warrants have an exercise price of $0.8025 per share, are immediately exercisable and will expire five years from the date of issuance. The aggregate net proceeds from the offering were approximately $10.2 million, after deducting the placement agent fees and other offering expenses. During the quarter ended September 30, 2020, Series E Warrants to purchase 7,194,004 shares of common stock were exercised at an exercise price of $0.8025 per share for aggregate proceeds of approximately $5.8 million. On February 14, 2020, the Company closed an underwritten offering (the “February 2020 Offering”) for the issuance and sale of (i) 10,146,154 Class A Units, each consisting of one share of common stock and one Series C Warrant to purchase one share of common stock, at a public offering price of $0.65 per Class A Unit, and (ii) 2,161,539 Class B Units, each consisting of one Series D Pre-Funded Warrant to purchase one share of common stock and one Series C Warrant to purchase one share of common stock, at a public offering price of $0.6499 per Class B Unit. The Series C Warrants have an exercise price of $0.65 per share, are immediately exercisable and will expire five years from the date of issuance. The Series D Pre-Funded Warrants had an exercise price of $0.0001 per share and were fully exercised in connection with the closing of the offering. The Company granted the underwriter a 30-day option to purchase up to an additional 1,846,153 shares of common stock and/or additional Series C Warrants to purchase up to 1,846,153 shares of common stock. The underwriter fully exercised its option to purchase the shares and the Series C Warrants. The aggregate net proceeds from the offering were $8.3 million after deducting underwriting commissions and other offering expenses. During the quarter ended September 30, 2020, Series C Warrants to purchase 10,003,038 shares of common stock were exercised at an exercise price of $0.65 per share for aggregate proceeds of approximately $6.5 million. During the nine months ended September 30, 2020, Series C Warrants to purchase 13,986,146 shares of common stock were exercised at an exercise price of $0.65 per share for aggregate proceeds of approximately $9.1 million. On August 19, 2019, the Company entered into a sales agreement with BTIG, LLC, as sales agent (“BTIG”), to establish an at-the-market offering program ("2019 ATM"), under which the Company was permitted to offer and sell, from time to time, shares of common stock having a maximum aggregate offering price of up to $15.0 million. The Company was required to pay BTIG a commission of 3% of the gross proceeds from the sale of shares and also agreed to provide BTIG with customary indemnification rights. During the quarter ended March 31, 2020, the Company issued and sold 2,151,346 shares of its common stock at an average price of $1.30 per share under the 2019 ATM program. The aggregate net proceeds were approximately $2.7 million after BTIG's commission of $84,000 and other offering expenses. On March 4, 2020, the Company delivered notice of termination of the sales agreement to BTIG. The Company did not incur any penalties as a result of its termination of the sales agreement. The Company plans to raise additional funding through equity or debt financings, licensing or collaboration agreements, or strategic alliances with pharmaceutical partners, or any combination of the above. However, there are no assurances that additional funding will be obtained and that the Company will succeed in its future operations. The Company’s inability to obtain required funding in the near future or its inability to obtain funding on favorable terms will have a material adverse effect on its operations and strategic development plan for future growth. If the Company cannot successfully raise additional capital and implement its strategic development plan, its liquidity, financial condition and business prospects will be materially and adversely affected, and it may have to cease operations. The Company will continue to evaluate its timelines, strategic needs, and working capital requirements. There can be no assurance that if the Company attempts to raise additional capital, it will be successful in doing so on terms acceptable to the Company, or at all. Further, there can be no assurance that it will be able to gain access and/or be able to execute on securing new sources of funding, new development opportunities, successfully obtain regulatory approvals for and commercialize new products, achieve significant product revenues from its products (if approved), or achieve or sustain profitability in the future. COVID-19 Pandemic On March 11, 2020, the World Health Organization designated COVID-19 as a global pandemic. Due to the COVID-19 pandemic, there has been uncertainty in the global financial markets and economic conditions. The Company is closely monitoring the impact of the COVID-19 pandemic on its business, including how it will impact its employees, clinical trials and third-party service providers who perform critical services for the Company's business. In addition, the impact of the COVID-19 pandemic on the global financial markets and economic conditions could impact the Company's ability to raise capital through an equity financing, debt financing, a license or collaboration or a combination of such sources of capital, and as a result, its ability to continue as a going concern. The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company's business, results of operations and financial condition 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 it. As of the date of issuance of this Quarterly Report on Form 10-Q, management is not aware of any specific event or circumstances that would require an update to its estimates or a revision of the carrying value of its assets or liabilities. These estimates may change, as new events occur, and additional information is obtained. On March 27, 2020, the CARES Act was signed into law. The CARES Act includes provisions relating to refundable payroll tax credits, deferment of the employer portion of certain payroll taxes, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. The Company analyzed the provisions of the CARES Act and determined there was no significant impact on the Company's provision for income taxes for the three and nine months ended September 30, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Significant Accounting Policies The Company’s significant accounting policies are included in Note 2. Summary of Significant Accounting Policies to the financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with an original maturity of 90 days or less to be cash equivalents. As of September 30, 2020, and December 31, 2019, the Company had restricted cash of approximately $0.5 million primarily consisting of deposits of $0.3 million to secure its building lease until the end of the lease term and a deposit of approximately $0.1 million to a utility provider. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets and as presented as cash, cash equivalents and restricted cash in the statements of cash flows: September 30, 2020 September 30, 2019 (unaudited; in thousands) Cash and cash equivalents $ 43,554 $ 6,492 Restricted cash 455 455 Total $ 44,009 $ 6,947 Marketable Securities Marketable securities generally consist of debt securities with original maturities greater than 90 days and remaining maturities of less than one year. Marketable securities with an original maturity greater than one year, if any, would be considered long-term investments. All of the Company's investments are classified as available-for-sale and carried at fair value based upon quoted market price. The change in unrealized gains and losses related to fixed maturity debt securities is reported as a separate component of comprehensive loss in the statements of operations and comprehensive loss and as a separate component of stockholders' equity on the balance sheets. Interest income includes interest, dividends, amortization and accretion of purchase premiums and discounts and realized gains and losses on sales of securities, if any. The cost of securities sold is based on the specific-identification method. The Company monitors its investment portfolio for potential impairment on a quarterly basis. If the carrying amount of an investment in available-for-sale debt securities exceeds its fair value and the decline in value is determined to be other-than-temporary, an allowance is recorded in the amount that the carrying amount of the security exceeds its fair value and a loss is recognized in operating results for the amount of such decline. If the carrying amount of an investment in marketable securities, other than available-for-sale debt securities, exceeds its fair value and the decline in value is determined to be other-than-temporary, the carrying amount of the security is reduced to fair value and a loss is recognized in operating results for the amount of such decline. In order to determine whether a decline in value is other-than-temporary, the Company evaluates, among other factors, the cause of the impairment, including the creditworthiness of the security issuers, the number of securities in an unrealized loss position, the severity and duration of the unrealized losses, and its intent and ability to hold the security to maturity or expected recovery. Fair Value of Financial Instruments The Company records its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: • Level 1: Inputs which include quoted prices in active markets for identical assets and liabilities. • Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying values of certain assets and liabilities of the Company, such as cash and cash equivalents and accounts payable approximate fair value due to their relatively short maturities. The carrying value of the Company’s short-term financial obligations approximates their fair value as the terms of the borrowing are consistent with current market rates and the duration to maturity is short. The carrying value of the Company's long-term financial obligations approximates fair value because interest rates approximate market rates that the Company could obtain for debt with similar terms and maturities. Net Loss Per Common Share Basic net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per common share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares and potentially dilutive securities outstanding for the period determined using the treasury-stock and if-converted methods. For purposes of the diluted net loss per share calculation, common stock warrants, stock options and restricted stock units (“RSUs”) are considered to be potential dilutive securities but are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive and therefore, basic and diluted net loss per share were the same for all periods presented. The following outstanding common stock equivalents were excluded from the computations of diluted net loss per common share for the periods presented as the effect of including such securities would be antidilutive: September 30, 2020 September 30, 2019 (unaudited) Warrants to purchase common stock 5,148,108 274,524 Options to purchase common stock 2,673,444 1,865,978 RSUs 342,317 — Total 8,163,869 2,140,502 Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In November 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-18 Collaborative Arrangements (Topic 808), Clarifying the Interaction between Topic 808 and Topic 606, which (1) clarifies that certain transactions between collaborative arrangement participants should be accounted for under ASC Topic 606, Revenue from Contracts with Customers (Topic 606) , when the collaborative arrangement participant is a customer in the context of a unit of account, (2) adds unit-of-account guidance in Topic 808 to align with Topic 606 when an entity is assessing whether the collaborative arrangement, or a part of the arrangement, is within the scope of Topic 606, (3) precludes presenting transactions together with revenue when those transactions involve collaborative arrangement participants that are not directly related to third parties and are not customers. The Company adopted ASU 2018-18 in the third quarter of 2020. The adoption of ASU 2018-18 did not have a material impact on the Company's condensed financial statements. The FASB issued ASU 2019-05, Financial Instruments - Credit Losses, Targeted Transition Relief in May 2019, ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments — Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments in April 2019, and ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses in November 2018. This new guidance is intended to present credit losses on available-for-sale debt securities as an allowance rather than as a write-down. Entities are required to apply the standards' provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company adopted ASU 2019-05, ASU 2019-04 and ASU 2018-19 effective January 1, 2020. The adoption of this guidance did not have an impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-15, Intangible - Goodwill and Other - Internal-Use Software (Subtopic 350-40) , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted ASU 2018-15, Subtopic 350-40 effective January 1, 2020 on a prospective basis. The adoption of this guidance did not have a material impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) . The new guidance modifies the disclosure requirements on fair value measurements. The Company adopted Topic 820 effective January 1, 2020 on a modified retrospective basis. The adoption of this guidance did not have a material impact on the Company's financial statement disclosures. Recent Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This new guidance simplifies the accounting for income taxes by removing certain exceptions to general principles, clarifying requirements and including amendments to improve consistent application of the guidance. The guidance specifically removes the exception to the incremental approach for intra period tax allocation when there is a loss from continuing operations and income or a gain from other items, such as discontinued operations or other comprehensive income. The guidance also requires an entity to recognize a franchise tax that is partially based on income as an income-based tax and to account for any other amounts incurred as a non-income based tax. The guidance is effective for the Company beginning January 1, 2021 using a prospective approach. Early adoption is permitted. The Company is evaluating the effect of implementation on its financial statements and disclosures.

Master Services Agreement with

Master Services Agreement with Eversana	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Master Services Agreement with Eversana	Master Services Agreement with Eversana On August 6, 2020, the Company entered into a master services agreement (the “Eversana Agreement”) with Eversana Life Science Services, LLC (“Eversana”) for the commercialization of Qtrypta in the United States, if approved by the FDA. Under the terms of the Eversana Agreement, Eversana and the Company will cooperate to conduct activities over the term of the Eversana Agreement. The Company maintains ownership of the Qtrypta NDA as well as all legal, regulatory and manufacturing responsibilities for Qtrypta. Eversana receives an exclusive right to conduct agreed commercialization activities and will utilize its internal sales organization along with its other commercial capabilities for market access, marketing, distribution and patient support services for Qtrypta. Eversana will receive reimbursement of certain commercialization costs pursuant to a commercialization budget estimated at approximately $250.0 million and a low double digit to mid-teen percentage of product profits when Company net sales of Qtrypta surpass certain costs incurred by the parties pursuant to the commercialization budget. The term of the Eversana Agreement is five years following the date, if any, that the FDA approves the NDA. Upon expiration or termination of the Eversana Agreement, the Company will retain all profits from product sales consummated after expiration or termination and assume all future corresponding commercialization responsibilities. The Company may terminate the Eversana Agreement if Eversana fails to provide pre-commercial or commercial plans and budgets by specified dates, if the Company decides to discontinue development or commercialization efforts for Qtrypta in the United States (subject to a termination payment if such termination occurs within a specified time period), or upon a change of control of the Company. Either party may terminate the Eversana Agreement if FDA approval is not received by July 31, 2021, if net profits are not realized within a specified time period following commercial launch, for material breach of the Eversana Agreement by the other party that is not cured within a defined time period, for insolvency of the other party, if Qtrypta is subject to a safety recall in the United States or if Qtrypta is not commercially launched within a specified time period after FDA approval of the NDA (other than by reason of the terminating party’s failure to perform its obligations under the Eversana Agreement). In addition, under the Eversana Agreement, following FDA approval of the NDA, Eversana has agreed to provide a revolving credit facility of up to $5.0 million (the “Credit Facility”) to the Company pursuant to a loan agreement to be entered into between Eversana and the Company on a subsequent date. The loan will bear interest at an annual rate equal to 10.0%, to be paid monthly, and the Company will be able to prepay any amounts borrowed under the Credit Facility at any time without penalty or premium. The Credit Facility will be secured by substantially all of the Company’s assets, subject to prior liens and security interests. The Company is accounting for the Eversana Agreement as a collaborative arrangement. As of September 30, 2020, no material accruals, expenses, payments, or revenues were recorded by the Company in connection with the Eversana Agreement.

Cash Equivalents and Investment

Cash Equivalents and Investments in Marketable Securities	9 Months Ended
	Sep. 30, 2020
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Cash Equivalents and Investments in Marketable Securities	Cash Equivalents and Investments in Marketable Securities The following table summarizes the Company's cash equivalents and investments in marketable securities measured at fair value on a recurring basis as of September 30, 2020: Fair Value Measurements Total Quoted prices Significant other Significant (unaudited; in thousands) Money market funds classified as cash equivalents $ 38,417 $ 38,417 $ — $ — The Company did not hold any cash equivalents and investments in marketable securities as of December 31, 2019.

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components The following table summarizes the Company’s prepaid expenses and other current assets for each of the periods presented: September 30, 2020 December 31, 2019 (unaudited; in thousands) (in thousands) Prepaid insurance $ 289 $ 49 Prepaid services 144 316 Prepaid software, subscriptions and deferred implementation costs 133 61 Deferred offering costs 48 65 Other 1 6 Total $ 615 $ 497 The following table summarizes the Company’s property and equipment for each of the periods presented: September 30, 2020 December 31, 2019 (unaudited; in thousands) (in thousands) Leasehold improvements $ 24,212 $ 16,932 Manufacturing equipment 14,532 12,173 Laboratory and office equipment 1,617 1,585 Right-of-use laboratory and office equipment 25 25 Computer equipment and software 138 138 Right-of-use computer equipment and software 29 29 Construction-in-progress 17,885 20,602 Property and equipment at cost 58,438 51,484 Less: accumulated depreciation property and equipment (27,778) (26,821) Less: accumulated amortization right-of-use assets (39) (27) Total $ 30,621 $ 24,636 As of September 30, 2020, construction-in-progress included $14.3 million of an asset relating to the build-to-suit arrangement for construction of the Company's commercial coating and primary packaging system, of which capitalized construction period interest was $2.2 million (See Note 7. Debt Financing ). The following table summarizes the Company's depreciation and amortization expense for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (unaudited; in thousands) (unaudited; in thousands) Depreciation and amortization expense $ 476 $ 157 $ 993 $ 518 The following table summarizes the Company’s other accrued liabilities for each of the periods presented: September 30, 2020 December 31, 2019 (unaudited; in thousands) (in thousands) Construction-in-progress obligations $ 2,962 $ 3,422 Professional service fees 239 206 Pre-clinical and clinical studies 16 43 Contract manufacturing 13 250 Accrued taxes — 27 Other 164 224 Total $ 3,394 $ 4,172

Leases

Leases	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Leases	Leases Operating Leases The Company has a non-cancelable operating lease for office, research and development, and manufacturing facilities in Fremont, California through August 31, 2024, with an option to further extend the lease for an additional 60 months subject to certain terms and conditions. The operating lease right-of-use asset and associated lease liability do not consider the option to extend the term after August 31, 2024, as the Company is not reasonably certain of exercising the extension option. The Company entered into a three year, non-cancelable lease for telephone equipment in January 2018. Per the terms of the agreements, the Company does not have any residual value guarantees, restrictions or covenants. In calculating the present value of the lease payments, the Company utilized its incremental borrowing rate, as the rates implicit in the leases were not readily determinable. The Company estimates its incremental borrowing rate based on qualitative factors including company specific credit offers, lease term, general economics and the interest rate environment. The Company accounts for lease and non-lease components separately. The building lease includes non-lease components (i.e. common area maintenance) which are charged and paid separately from rent based on actual costs incurred and therefore are not included in the right-of-use asset and lease liability but reflected in operating expense in the period incurred. As of September 30, 2020, the Company had operating leases for manufacturing space at two of its contract manufacturing organizations ("CMOs"). The operating leases are embedded in agreements with these CMOs that include lease and non-lease components. The Company accounts for lease and non-lease components separately and determined the lease and non-lease components of the agreements based upon estimates of relative standalone prices and a residual estimation approach for components that are highly variable or uncertain and where standalone prices were not readily available or estimable. These agreements have initial terms and options to extend that are dependent upon FDA approval of the Company's NDA for Qtrypta. Both agreements have cancellation clauses if the FDA does not approve the NDA for Qtrypta. As the Company does not currently have an intention to cancel the agreements prior to an FDA approval decision, the Company has recorded right-of-use assets and lease liabilities at the present value of the amount in each CMO agreement that was identified as an embedded operating lease. The lease term does not extend past the estimated date of an FDA approval decision, as it is not reasonably certain that the Company would not exercise the cancellation options in the event that Qtrypta was not approved. Per the terms of the agreements, the Company does not have any residual value guarantees, restrictions or covenants. In calculating the present value of the lease payments, the Company utilized its incremental borrowing rate, as the rates implicit in the leases were not readily determinable. The Company estimates its incremental borrowing rate based on qualitative factors including company specific credit offers, lease term, general economics and the interest rate environment. Prior to September 30, 2020, any embedded leases within these agreements were not considered long-term and were not separately disclosed as lease commitments, but included as commitments to CMOs in the commitments and contingencies footnote of the financial statements. The establishment of the embedded leases resulted in $153,000 of right-of-use assets and associated lease liabilities and was reflected as a non-cash operating activity in the statement of cash flows as of September 30, 2020. Finance Leases The Company leases certain equipment under non-cancelable agreements which expire between 2021 and 2022. The following table summarizes the components of lease costs for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (unaudited; in thousands) (unaudited; in thousands) Operating lease costs $ 422 $ 422 $ 1,266 $ 1,250 Finance lease costs: Amortization of finance lease right-of-use assets 4 4 12 23 Interest on finance lease obligations 2 3 6 15 Total $ 428 $ 429 $ 1,284 $ 1,288 The following table summarizes cash payments for leases for each of the periods presented: Nine Months Ended September 30, 2020 2019 (unaudited; in thousands) Operating cash flows from operating leases - cash paid for operating leases $ 1,388 $ 1,332 Operating cash flows from finance leases - cash paid for interest $ 6 $ 9 Financing cash flows from finance leases - cash paid for principal $ 12 $ 10 The following table summarizes the lease terms and discount rates for the Company's leases as of September 30, 2020: Operating leases Finance leases (unaudited) Weighted-average remaining lease term (in years) 3.96 1.22 Weighted average discount rate 11 % 26 % The following table summarizes the maturities of the Company's lease liabilities for each year ending December 31, as of September 30, 2020: Operating leases Finance leases (unaudited; in thousands) Remainder of 2020 $ 490 $ 7 2021 1,981 14 2022 2,045 3 2023 2,017 — 2024 1,372 — Total undiscounted cash flows 7,905 24 Less: amount representing interest (1,515) (4) Present value of lease liabilities $ 6,390 $ 20 Current portion $ 1,332 $ 14 Long-term portion 5,058 6 Total $ 6,390 $ 20
Leases	Leases Operating Leases The Company has a non-cancelable operating lease for office, research and development, and manufacturing facilities in Fremont, California through August 31, 2024, with an option to further extend the lease for an additional 60 months subject to certain terms and conditions. The operating lease right-of-use asset and associated lease liability do not consider the option to extend the term after August 31, 2024, as the Company is not reasonably certain of exercising the extension option. The Company entered into a three year, non-cancelable lease for telephone equipment in January 2018. Per the terms of the agreements, the Company does not have any residual value guarantees, restrictions or covenants. In calculating the present value of the lease payments, the Company utilized its incremental borrowing rate, as the rates implicit in the leases were not readily determinable. The Company estimates its incremental borrowing rate based on qualitative factors including company specific credit offers, lease term, general economics and the interest rate environment. The Company accounts for lease and non-lease components separately. The building lease includes non-lease components (i.e. common area maintenance) which are charged and paid separately from rent based on actual costs incurred and therefore are not included in the right-of-use asset and lease liability but reflected in operating expense in the period incurred. As of September 30, 2020, the Company had operating leases for manufacturing space at two of its contract manufacturing organizations ("CMOs"). The operating leases are embedded in agreements with these CMOs that include lease and non-lease components. The Company accounts for lease and non-lease components separately and determined the lease and non-lease components of the agreements based upon estimates of relative standalone prices and a residual estimation approach for components that are highly variable or uncertain and where standalone prices were not readily available or estimable. These agreements have initial terms and options to extend that are dependent upon FDA approval of the Company's NDA for Qtrypta. Both agreements have cancellation clauses if the FDA does not approve the NDA for Qtrypta. As the Company does not currently have an intention to cancel the agreements prior to an FDA approval decision, the Company has recorded right-of-use assets and lease liabilities at the present value of the amount in each CMO agreement that was identified as an embedded operating lease. The lease term does not extend past the estimated date of an FDA approval decision, as it is not reasonably certain that the Company would not exercise the cancellation options in the event that Qtrypta was not approved. Per the terms of the agreements, the Company does not have any residual value guarantees, restrictions or covenants. In calculating the present value of the lease payments, the Company utilized its incremental borrowing rate, as the rates implicit in the leases were not readily determinable. The Company estimates its incremental borrowing rate based on qualitative factors including company specific credit offers, lease term, general economics and the interest rate environment. Prior to September 30, 2020, any embedded leases within these agreements were not considered long-term and were not separately disclosed as lease commitments, but included as commitments to CMOs in the commitments and contingencies footnote of the financial statements. The establishment of the embedded leases resulted in $153,000 of right-of-use assets and associated lease liabilities and was reflected as a non-cash operating activity in the statement of cash flows as of September 30, 2020. Finance Leases The Company leases certain equipment under non-cancelable agreements which expire between 2021 and 2022. The following table summarizes the components of lease costs for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (unaudited; in thousands) (unaudited; in thousands) Operating lease costs $ 422 $ 422 $ 1,266 $ 1,250 Finance lease costs: Amortization of finance lease right-of-use assets 4 4 12 23 Interest on finance lease obligations 2 3 6 15 Total $ 428 $ 429 $ 1,284 $ 1,288 The following table summarizes cash payments for leases for each of the periods presented: Nine Months Ended September 30, 2020 2019 (unaudited; in thousands) Operating cash flows from operating leases - cash paid for operating leases $ 1,388 $ 1,332 Operating cash flows from finance leases - cash paid for interest $ 6 $ 9 Financing cash flows from finance leases - cash paid for principal $ 12 $ 10 The following table summarizes the lease terms and discount rates for the Company's leases as of September 30, 2020: Operating leases Finance leases (unaudited) Weighted-average remaining lease term (in years) 3.96 1.22 Weighted average discount rate 11 % 26 % The following table summarizes the maturities of the Company's lease liabilities for each year ending December 31, as of September 30, 2020: Operating leases Finance leases (unaudited; in thousands) Remainder of 2020 $ 490 $ 7 2021 1,981 14 2022 2,045 3 2023 2,017 — 2024 1,372 — Total undiscounted cash flows 7,905 24 Less: amount representing interest (1,515) (4) Present value of lease liabilities $ 6,390 $ 20 Current portion $ 1,332 $ 14 Long-term portion 5,058 6 Total $ 6,390 $ 20

Debt Financing

Debt Financing	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt Financing	Debt Financing Build-to-Suit Obligation with Trinity In September 2018, the Company entered into a build-to-suit arrangement with Trinity Capital Fund III, L.P. (the “Agreement”) in order to obtain financing for the third-party construction of the Company's commercial coating and primary packaging system (the “Equipment”) . Under the Agreement, Trinity (as successor in interest to Trinity Capital Fund III, L.P.) made available to the Company $14.0 million for equipment costs and associated soft costs (“Total Cost”), with an initial drawdown of $5.0 million and additional drawdowns in increments of not less than $0.5 million. Under the Agreement, each individual drawdown represents a separate financing arrangement with its own term and stated interest rate. Each drawdown is non-cancelable, with no prepayment options. In consideration of the financing arrangement, as collateral, the Company granted Trinity a first-priority lien and security interest in substantially all of the Company's assets. On May 27, 2020, the Company entered into the Trinity Amendment. The Trinity Amendment, among other things, extended each individual drawdown term from 36 months to 42 months by providing for an interest-only period from May 2020 through October 2020. Principal payments recommenced November 1, 2020. Additionally, the Trinity Amendment removed all end-of-term options other than the option to purchase the equipment at 12% of the Total Cost, which is equal to the drawdown amount (“Purchase Option Fee”), which the Company intends to exercise at the end of each 42-month-term. The transfer of title from Trinity to the Company will occur at the end of the final 42-month-term, provided that the purchase option was executed, and the Purchase Option Fee was paid in full at the end of each 42-month-term. The security interest will terminate on the earlier to occur of (i) the date that falls six (6) months after the delivery and installation of the Equipment or (ii) payment in full of all amounts owed. The Company accounted for the Trinity Amendment as a debt modification under ASC 470-50, as the amended terms were not substantially different from the terms of the Agreement. The Company determined that it controls the Equipment during the construction period due to its involvement in and its obligations related to the construction of the Equipment. Accordingly, construction costs incurred were recorded as construction-in-progress, a component of property and equipment on the balance sheet, and the Trinity financing obligation was recorded as a build-to-suit obligation on the balance sheet. As of September 30, 2020, the Company had an aggregate commercial coating and primary packaging system construction-in-progress balance of $14.3 million that included $2.2 million of interest related to its build-to-suit obligation. In connection with the build-to-suit arrangement, the Company issued common stock warrants (“Trinity Warrants”) for a total of 75,000 shares of common stock at an exercise price of $3.5928 per share. The Trinity Warrants will expire on September 25, 2025. Proceeds allocated to the Trinity Warrants based on their relative fair value approximated $243,000 and were recorded as a discount to the initial $5.0 million drawdown under the Trinity financing arrangement and are being amortized as interest over the term of the September 2018 drawdown. The Trinity build-to-suit arrangement requires compliance with various affirmative and restrictive covenants in regard to making certain investments and other restricted payments, engaging in mergers or consolidations, and the sale or transfer of certain assets. Failure to comply with any of these covenants, or pay principal, interest or other amounts when due, would constitute an event of default under the applicable agreement. The Company was in compliance with its covenants with respect to the Trinity build-to-suit arrangement as of September 30, 2020. The following table summarizes the debt obligations as of September 30, 2020 including the amended effective interest rate and maturity dates pursuant to the terms of the Trinity Amendment: Drawdown Date Drawdown Amount Principal Balance Purchase Option Fee Discount on Purchase Option Fee Unamortized Discounts and Issuance Costs Monthly Payment Monthly Payment (interest only period) Stated Interest Rate Amended Effective Interest Rate Maturity Date (unaudited; in thousands) 09/25/18 $ 5,000 $ 2,378 $ 600 $ (28) $ (170) $ 160 $ 20 9.43 % 24.38 % 04/01/22 12/11/18 2,800 1,566 336 (22) (73) 90 13 9.68 % 18.25 % 07/01/22 06/06/19 2,300 1,654 276 (31) (100) 74 14 9.93 % 18.08 % 01/01/23 09/13/19 2,300 1,831 276 (38) (126) 74 16 9.93 % 18.04 % 04/01/23 11/27/19 1,600 1,354 192 (31) (104) 52 12 9.93 % 18.16 % 06/01/23 Total $ 14,000 $ 8,783 $ 1,680 $ (150) $ (573) $ 450 $ 75 The following table summarizes the Company's build-to-suit obligation as of September 30, 2020 (unaudited; in thousands) : Build-to-suit obligation principal amount $ 8,783 Build-to-suit obligation Purchase Option Fees at present value 1,530 Less: unamortized Purchase Option Fees (441) unamortized fair value of free-standing warrants (46) unamortized debt discount (81) unamortized debt issuance costs (5) Build-to-suit obligation, net of debt issuance costs and discount $ 9,740 Build-to-suit obligation, current portion $ 4,293 Build-to-suit obligation, long-term portion, net of debt issuance costs and discount 5,447 Build-to-suit obligation, net of debt issuance costs and discount $ 9,740 The following table summarizes the future minimum payments on the Company’s build-to-suit obligation for each year ending December 31, including payment of principal, interest and Purchase Option Fees as of September 30, 2020: Principal Interest Purchase Option Fee (unaudited; in thousands) Remainder of 2020 $ 753 $ 222 $ — 2021 4,779 618 — 2022 2,979 189 936 2023 272 8 744 Total $ 8,783 $ 1,037 $ 1,680 The following table summarizes interest incurred on the Company's build-to-suit obligation for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (unaudited; in thousands) (unaudited; in thousands) Build-to-suit obligation, cash interest expense $ 225 $ 210 $ 705 $ 556 Build-to-suit obligation, effective interest expense 147 159 560 545 Less: build-to-suit obligation, interest capitalized (217) (109) (746) (841) Build-to-suit obligation interest expense $ 155 $ 260 $ 519 $ 260 PPP Loan On April 21, 2020, the Company executed a PPP Note evidencing a PPP Loan in the amount of $1.6 million. The PPP was established under the CARES Act and is administered by the Small Business Association ("SBA"). The Loan was made through Silicon Valley Bank (the “Lender”). The PPP Loan has a two-year term and bears interest at a rate of 1.0% per annum. Under the terms of the CARES Act, PPP loan recipients can apply for and be granted forgiveness for all or a portion of the loan granted under the PPP. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for eligible purposes, including payroll, benefits, rent and utilities, and the maintenance of the Company's payroll levels. The Company applied for forgiveness of the entire $1.6 million loan amount and accrued interest on October 4, 2020, utilizing the 24-week covered period allowed by the SBA. The Company submitted its forgiveness application utilizing eligible expenses incurred during a 19-week period from April 22, 2020 through September 1, 2020. The lender reviewed the application and submitted it to the SBA on October 7, 2020 from which time, the SBA has 90 days to review and make a decision on the forgiveness of the loan. No assurance is provided that forgiveness for any portion of the PPP Loan or accrued interest will be obtained. The Paycheck Protection Flexibility Act of 2020, P.L. 116-142, extended the deferral period for loan payments to either (1) the date that the SBA remits the borrower’s loan forgiveness amount to the lender or (2) if the borrower does not apply for loan forgiveness, ten months after the end of the borrower’s loan forgiveness covered period. The Lender has modified the Company’s first payment from November 21, 2020 to September 21, 2021 and if the loan is fully forgiven, the Company is not responsible for any payments. If only a portion of the loan is forgiven, or if the forgiveness application is denied, any remaining balance due on the loan must be repaid by the Company on or before April 21, 2022, the maturity date of the loan. Interest accrues during the time between the disbursement of the loan and SBA remittance of the forgiveness amount. The Company is responsible for paying the accrued interest on any amount of the loan that is not forgiven. The PPP Note contains customary events of default relating to, among other things, payment defaults, providing materially false and misleading representation to the SBA or Lender or breaching the terms of the PPP Note. The occurrence of an event of default may result in the immediate repayment of all amounts outstanding, collection of all amounts owing from the Company or filing suit and obtaining judgment against the Company.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Equipment Purchase Commitments The Company has a remaining commitment of $4.0 million, of which $2.8 million was recorded as a current liability as of September 30, 2020, with an equipment manufacturer for the construction and purchase of a commercial coating and primary packaging system for the production of its product candidate, Qtrypta. The terms of the purchase commitment are contingent upon performance of certain milestones. The Company anticipates that the obligation will be paid within the next 9 months. Contract Manufacturing Organizations The Company has a technology transfer agreement and a manufacturing and supply agreement with a CMO to provide services related to the manufacture and commercialization of Qtrypta. During the term of the agreement, the CMO will provide services related to processing, packaging, labeling and storing Qtrypta, in addition to other services such as stability testing, quality control and assurance, and waste disposal. The agreements call for annual fees of $2.0 million in 2020 escalating to $14.0 million in 2024, to be paid in equal monthly installments. Beginning in 2020, the annual fee includes the production of a defined number of units with an option to purchase additional units at a defined price. The agreement contains negotiated representations and warranties, indemnification, limitations of liability, and other provisions. The initial term of the manufacturing and supply agreement continues until the seventh anniversary of the date on which the Company receives New Drug Application approval of Qtrypta in the United States. As of September 30, 2020, the Company had recorded a right-of-use asset and associated lease liabilities at the present value of the amount of the manufacturing and supply agreement identified as an embedded operating lease (See Note 6. Leases ). The Company may terminate the agreements upon denial of regulatory approvals or if regulatory approvals are withdrawn under certain circumstances. The Company may also elect to terminate the contracts for convenience, which would result in cancellation fees in the amount of 50% of the annual fee due in the year that the contract is terminated, and costs to remove the Company's equipment and restore the CMO's facility. The Company or the CMO may terminate the agreement for the other’s uncured material breach, uncured force majeure or bankruptcy or insolvency-related events. The Company has non-cancelable commitments with this CMO for the construction of manufacturing space and technology transfer fees totaling $3.9 million, of which $0.5 million was a current liability on the balance sheet as of September 30, 2020. On July 31, 2020, the Company entered into an amendment to a Business Understanding Agreement dated September 13, 2018 with a CMO (the “Amended Agreement”). Pursuant to the Amended Agreement, this CMO agreed to provide services related to the manufacture and assembly of a component (the “Product”) of Qtrypta. Under the Amended Agreement, the parties expressed their mutual intent to enter into a commercial supply agreement (“Supply Agreement”) addressing certain of the terms set forth in the Amended Agreement. The Amended Agreement provides that if the Company does not enter into a Supply Agreement with this CMO or ceases to purchase the Product from this CMO prior to reaching a minimum commitment level, then the Company would be required to pay the CMO up to $2.5 million; however, no such payment will be required in the event of this CMO’s material breach. The Company may be required to pay an additional payment of up to $4.6 million if the Company ceases to purchase the Product from this CMO and a Supply Agreement is not entered into, except that no such payment will be required in the event of this CMO’s material breach or if the FDA does not approve Qtrypta. As of September 30, 2020, the Company had recorded a right-of-use asset and associated lease liabilities at the present value of the amount of the agreement identified as an embedded operating lease (See Note 6. Leases ). The Company has a manufacturing and supply agreement through September 2023 with a supplier for a component part that includes an inactivity fee of up to $85,000 annually. Indemnifications In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future but have not yet been made. To date, the Company has not paid any claims or been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations. The Company also has indemnification obligations to its officers and directors for specified events or occurrences, subject to some limits, while they are serving at the Company’s request in such capacities. There have been no claims to date and the Company has director and officer insurance that may enable the Company to recover a portion of any amounts paid for future potential claims. The Company believes the fair value of these indemnification agreements is minimal. Accordingly, the Company has not recorded any liabilities for these agreements as of September 30, 2020. Legal Proceedings On October 29, 2020 and November 6, 2020, two stockholders filed alleged class action lawsuits against the Company and certain of its current and former executive officers in the United States District Court for the Northern District of California: Carr v. Zosano Pharma Corporation, et al., Case No. 3:20-cv-07625, and Becerra v. Zosano Pharma Corporation, et al., Case No. 3:20-cv-07850. The complaints were filed purportedly on behalf of all persons who purchased or otherwise acquired the Company’s securities between February 13, 2017 and September 30, 2020. The complaints allege that the Company and certain of its current and former executive officers made false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects in violation of Sections 10(b) (and Rule 10b-5 promulgated thereunder) and 20(a) of the Securities Exchange Act of 1934, as amended. The plaintiffs seek damages, interest, costs, attorneys’ fees and other unspecified relief. The Company believes the cases are without merit and it intends to vigorously defend itself against the claims. Given the uncertainty of litigation and the preliminary stage of the cases, the Company cannot predict the outcome of or estimate the possible loss or range of loss that may result from these actions. The Company, from time to time, may be involved in other lawsuits and legal proceedings, which arise, in the ordinary course of business. Such matters are subject to many uncertainties and outcomes and are not predictable with assurance. The Company accrues for contingencies when it believes that a loss is probable and that it can reasonably estimate the amount of any such loss. To the extent that there is a reasonable possibility that a loss exceeding amounts already recognized may be incurred and the amount of such additional loss would be material, the Company will either disclose the estimated additional loss or state that such an estimate cannot be made.

Common Stock Warrants

Common Stock Warrants	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Common Stock Warrants	Common Stock Warrants The following table summarizes the Company’s common stock warrants issued and outstanding as of the periods presented: Warrants Outstanding Issued Exercised Expired Warrants Outstanding Exercise Price Expiration Date (unaudited) Series E - March 2020 — 11,903,506 (7,194,004) — 4,709,502 $ 0.8025 03/06/25 Series D - February 2020 — 2,161,539 (2,161,539) — — Series C - February 2020 — 14,153,846 (13,986,146) — 167,700 $ 0.65 02/14/25 Trinity - September 2018 75,000 — — — 75,000 $ 3.5928 09/25/25 Series B - August 2016 195,906 — — — 195,906 $ 31.00 08/19/21 Amendment to Hercules Term Loan - June 2015 2,035 — — (2,035) — Hercules Term Loan - June 2014 1,583 — — (1,583) — Total 274,524 28,218,891 (23,341,689) (3,618) 5,148,108

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation During the second quarter of 2020, the Company granted RSUs to its employees and Board of Directors. Upon vesting, each RSU converts into one share of the Company’s common stock. The value of an RSU award is based on the Company’s closing stock price on the date of grant. The RSUs granted to employees vest annually over four years and are subject to the employee’s continuing service to the Company. The RSUs granted to members of the Board of Directors vest fully after one year and are subject to the director's continuing service to the Company. Stock-based compensation expense is recognized straight-line over the vesting term. The following table summarizes activity under the Amended and Restated 2014 Equity and Incentive Plan (“2014 Plan”), the 2012 Stock Incentive Plan (“2012 Plan”) and inducement grants issued to new employees outside of the 2014 Plan in accordance with Nasdaq Listing Rule 5635(c)(4) for the nine months ended September 30, 2020 (unaudited) : Number of Shares Subject to Outstanding Stock Options Weighted-Average Number of RSUs outstanding Weighted-Average Outstanding at January 1, 2020 2,260,307 $ 4.29 — $ — Granted 775,625 $ 0.99 343,442 $ 0.84 Canceled/forfeited/expired (362,488) $ 3.81 (1,125) $ 0.84 Outstanding at September 30, 2020 2,673,444 $ 3.40 342,317 $ 0.84 On January 1, 2020, the shares of common stock authorized for issuance under the 2014 Plan were increased by 822,612 shares pursuant to the automatic annual increase provisions of the 2014 Plan. As of September 30, 2020, 28,182 shares of common stock were available for issuance under the 2014 Plan. The following table summarizes the Company's stock compensation expense for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (unaudited; in thousands) (unaudited; in thousands) Research and development $ 177 $ 206 $ 507 $ 549 General and administrative 262 217 657 621 Total $ 439 $ 423 $ 1,164 $ 1,170

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information, the instructions to Form 10-Q and Regulation S-X. They do not include all the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal and recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, or any other subsequent period. These financial statements should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2019, included in the Company’s annual report on Form 10-K and filed with the United States Securities and Exchange Commission (“SEC”) on March 13, 2020.
Use of Estimates	Use of Estimates The preparation of the accompanying condensed financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the condensed financial statements, and the reported amounts of expenses during the periods reported. Actual results could differ from those estimates.
Liquidity and Substantial Doubt in Going Concern	Liquidity and Substantial Doubt in Going ConcernPresently, the Company does not have sufficient cash and cash equivalents to enable it to fund its anticipated level of operations and meet its obligations as they become due within twelve months following the date of issuance of this Quarterly Report on Form 10-Q. The aforementioned factors raise substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the issuance of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. On May 27, 2020, the Company entered into the First Amendment to Lease Documents (the “Trinity Amendment”) with Trinity Funding 1, LLC (“Trinity”), which, among other things, extended the term of each lease schedule from a 36-month term to a 42-month term by providing for an interest-only period from May 2020 through October 2020. Principal payments recommenced on November 1, 2020. Additionally, the Trinity Amendment removed all end-of-term options other than the option to purchase the equipment at 12% of equipment cost at the end of each 42-month-term. The Company plans to raise additional funding through equity or debt financings, licensing or collaboration agreements, or strategic alliances with pharmaceutical partners, or any combination of the above. However, there are no assurances that additional funding will be obtained and that the Company will succeed in its future operations. The Company’s inability to obtain required funding in the near future or its inability to obtain funding on favorable terms will have a material adverse effect on its operations and strategic development plan for future growth. If the Company cannot successfully raise additional capital and implement its strategic development plan, its liquidity, financial condition and business prospects will be materially and adversely affected, and it may have to cease operations. The Company will continue to evaluate its timelines, strategic needs, and working capital requirements. There can be no assurance that if the Company attempts to raise additional capital, it will be successful in doing so on terms acceptable to the Company, or at all. Further, there can be no assurance that it will be able to gain access and/or be able to execute on securing new sources of funding, new development opportunities, successfully obtain regulatory approvals for and commercialize new products, achieve significant product revenues from its products (if approved), or achieve or sustain profitability in the future.
Cash, Cash Equivalents, and Restricted Cash	Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with an original maturity of 90 days or less to be cash equivalents.
Marketable Securities	Marketable Securities Marketable securities generally consist of debt securities with original maturities greater than 90 days and remaining maturities of less than one year. Marketable securities with an original maturity greater than one year, if any, would be considered long-term investments. All of the Company's investments are classified as available-for-sale and carried at fair value based upon quoted market price. The change in unrealized gains and losses related to fixed maturity debt securities is reported as a separate component of comprehensive loss in the statements of operations and comprehensive loss and as a separate component of stockholders' equity on the balance sheets. Interest income includes interest, dividends, amortization and accretion of purchase premiums and discounts and realized gains and losses on sales of securities, if any. The cost of securities sold is based on the specific-identification method. The Company monitors its investment portfolio for potential impairment on a quarterly basis. If the carrying amount of an investment in available-for-sale debt securities exceeds its fair value and the decline in value is determined to be other-than-temporary, an allowance is recorded in the amount that the carrying amount of the security exceeds its fair value and a loss is recognized in operating results for the amount of such decline. If the carrying amount of an investment in marketable securities, other than available-for-sale debt securities, exceeds its fair value and the decline in value is determined to be other-than-temporary, the carrying amount of the security is reduced to fair value and a loss is recognized in operating results for the amount of such decline. In order to determine whether a decline in value is other-than-temporary, the Company evaluates, among other factors, the cause of the impairment, including the creditworthiness of the security issuers, the number of securities in an unrealized loss position, the severity and duration of the unrealized losses, and its intent and ability to hold the security to maturity or expected recovery.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company records its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: • Level 1: Inputs which include quoted prices in active markets for identical assets and liabilities. • Level 2: Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The carrying values of certain assets and liabilities of the Company, such as cash and cash equivalents and accounts payable approximate fair value due to their relatively short maturities. The carrying value of the Company’s short-term financial obligations approximates their fair value as the terms of the borrowing are consistent with current market rates and the duration to maturity is short. The carrying value of the Company's long-term financial obligations approximates fair value because interest rates approximate market rates that the Company could obtain for debt with similar terms and maturities.
Net Loss Per Common Share	Net Loss Per Common Share Basic net loss per common share is calculated by dividing the net loss by the weighted-average number of common shares outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per common share is computed by dividing the net loss attributable to common stockholders by the weighted-average number of common shares and potentially dilutive securities outstanding for the period determined using the treasury-stock and if-converted methods. For purposes of the diluted net loss per share calculation, common stock warrants, stock options and restricted stock units (“RSUs”) are considered to be potential dilutive securities but are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive and therefore, basic and diluted net loss per share were the same for all periods presented.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements In November 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-18 Collaborative Arrangements (Topic 808), Clarifying the Interaction between Topic 808 and Topic 606, which (1) clarifies that certain transactions between collaborative arrangement participants should be accounted for under ASC Topic 606, Revenue from Contracts with Customers (Topic 606) , when the collaborative arrangement participant is a customer in the context of a unit of account, (2) adds unit-of-account guidance in Topic 808 to align with Topic 606 when an entity is assessing whether the collaborative arrangement, or a part of the arrangement, is within the scope of Topic 606, (3) precludes presenting transactions together with revenue when those transactions involve collaborative arrangement participants that are not directly related to third parties and are not customers. The Company adopted ASU 2018-18 in the third quarter of 2020. The adoption of ASU 2018-18 did not have a material impact on the Company's condensed financial statements. The FASB issued ASU 2019-05, Financial Instruments - Credit Losses, Targeted Transition Relief in May 2019, ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments — Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments in April 2019, and ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses in November 2018. This new guidance is intended to present credit losses on available-for-sale debt securities as an allowance rather than as a write-down. Entities are required to apply the standards' provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company adopted ASU 2019-05, ASU 2019-04 and ASU 2018-19 effective January 1, 2020. The adoption of this guidance did not have an impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-15, Intangible - Goodwill and Other - Internal-Use Software (Subtopic 350-40) , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The Company adopted ASU 2018-15, Subtopic 350-40 effective January 1, 2020 on a prospective basis. The adoption of this guidance did not have a material impact on the Company's financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) . The new guidance modifies the disclosure requirements on fair value measurements. The Company adopted Topic 820 effective January 1, 2020 on a modified retrospective basis. The adoption of this guidance did not have a material impact on the Company's financial statement disclosures. Recent Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This new guidance simplifies the accounting for income taxes by removing certain exceptions to general principles, clarifying requirements and including amendments to improve consistent application of the guidance. The guidance specifically removes the exception to the incremental approach for intra period tax allocation when there is a loss from continuing operations and income or a gain from other items, such as discontinued operations or other comprehensive income. The guidance also requires an entity to recognize a franchise tax that is partially based on income as an income-based tax and to account for any other amounts incurred as a non-income based tax. The guidance is effective for the Company beginning January 1, 2021 using a prospective approach. Early adoption is permitted. The Company is evaluating the effect of implementation on its financial statements and disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets and as presented as cash, cash equivalents and restricted cash in the statements of cash flows: September 30, 2020 September 30, 2019 (unaudited; in thousands) Cash and cash equivalents $ 43,554 $ 6,492 Restricted cash 455 455 Total $ 44,009 $ 6,947
Schedule of Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the balance sheets and as presented as cash, cash equivalents and restricted cash in the statements of cash flows: September 30, 2020 September 30, 2019 (unaudited; in thousands) Cash and cash equivalents $ 43,554 $ 6,492 Restricted cash 455 455 Total $ 44,009 $ 6,947
Schedule of Outstanding Common Stock Equivalents Excluded from Computations of Diluted Net Loss per Common Share	The following outstanding common stock equivalents were excluded from the computations of diluted net loss per common share for the periods presented as the effect of including such securities would be antidilutive: September 30, 2020 September 30, 2019 (unaudited) Warrants to purchase common stock 5,148,108 274,524 Options to purchase common stock 2,673,444 1,865,978 RSUs 342,317 — Total 8,163,869 2,140,502

Cash Equivalents and Investme_2

Cash Equivalents and Investments in Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2020
Cash, Cash Equivalents, and Short-term Investments [Abstract]
Summary of Cash Equivalents and Marketable Securities	The following table summarizes the Company's cash equivalents and investments in marketable securities measured at fair value on a recurring basis as of September 30, 2020: Fair Value Measurements Total Quoted prices Significant other Significant (unaudited; in thousands) Money market funds classified as cash equivalents $ 38,417 $ 38,417 $ — $ —

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	The following table summarizes the Company’s prepaid expenses and other current assets for each of the periods presented: September 30, 2020 December 31, 2019 (unaudited; in thousands) (in thousands) Prepaid insurance $ 289 $ 49 Prepaid services 144 316 Prepaid software, subscriptions and deferred implementation costs 133 61 Deferred offering costs 48 65 Other 1 6 Total $ 615 $ 497
Schedule of Property and Equipment	The following table summarizes the Company’s property and equipment for each of the periods presented: September 30, 2020 December 31, 2019 (unaudited; in thousands) (in thousands) Leasehold improvements $ 24,212 $ 16,932 Manufacturing equipment 14,532 12,173 Laboratory and office equipment 1,617 1,585 Right-of-use laboratory and office equipment 25 25 Computer equipment and software 138 138 Right-of-use computer equipment and software 29 29 Construction-in-progress 17,885 20,602 Property and equipment at cost 58,438 51,484 Less: accumulated depreciation property and equipment (27,778) (26,821) Less: accumulated amortization right-of-use assets (39) (27) Total $ 30,621 $ 24,636 The following table summarizes the Company's depreciation and amortization expense for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (unaudited; in thousands) (unaudited; in thousands) Depreciation and amortization expense $ 476 $ 157 $ 993 $ 518
Schedule of Other Accrued Liabilities	The following table summarizes the Company’s other accrued liabilities for each of the periods presented: September 30, 2020 December 31, 2019 (unaudited; in thousands) (in thousands) Construction-in-progress obligations $ 2,962 $ 3,422 Professional service fees 239 206 Pre-clinical and clinical studies 16 43 Contract manufacturing 13 250 Accrued taxes — 27 Other 164 224 Total $ 3,394 $ 4,172

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Lease, Cost	The following table summarizes the components of lease costs for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (unaudited; in thousands) (unaudited; in thousands) Operating lease costs $ 422 $ 422 $ 1,266 $ 1,250 Finance lease costs: Amortization of finance lease right-of-use assets 4 4 12 23 Interest on finance lease obligations 2 3 6 15 Total $ 428 $ 429 $ 1,284 $ 1,288 The following table summarizes cash payments for leases for each of the periods presented: Nine Months Ended September 30, 2020 2019 (unaudited; in thousands) Operating cash flows from operating leases - cash paid for operating leases $ 1,388 $ 1,332 Operating cash flows from finance leases - cash paid for interest $ 6 $ 9 Financing cash flows from finance leases - cash paid for principal $ 12 $ 10 The following table summarizes the lease terms and discount rates for the Company's leases as of September 30, 2020: Operating leases Finance leases (unaudited) Weighted-average remaining lease term (in years) 3.96 1.22 Weighted average discount rate 11 % 26 %
Operating Leases, Scheduled Lease Payments	The following table summarizes the maturities of the Company's lease liabilities for each year ending December 31, as of September 30, 2020: Operating leases Finance leases (unaudited; in thousands) Remainder of 2020 $ 490 $ 7 2021 1,981 14 2022 2,045 3 2023 2,017 — 2024 1,372 — Total undiscounted cash flows 7,905 24 Less: amount representing interest (1,515) (4) Present value of lease liabilities $ 6,390 $ 20 Current portion $ 1,332 $ 14 Long-term portion 5,058 6 Total $ 6,390 $ 20
Finance Leases, Scheduled Lease Payments	The following table summarizes the maturities of the Company's lease liabilities for each year ending December 31, as of September 30, 2020: Operating leases Finance leases (unaudited; in thousands) Remainder of 2020 $ 490 $ 7 2021 1,981 14 2022 2,045 3 2023 2,017 — 2024 1,372 — Total undiscounted cash flows 7,905 24 Less: amount representing interest (1,515) (4) Present value of lease liabilities $ 6,390 $ 20 Current portion $ 1,332 $ 14 Long-term portion 5,058 6 Total $ 6,390 $ 20

Debt Financing (Tables)

Debt Financing (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The following table summarizes the debt obligations as of September 30, 2020 including the amended effective interest rate and maturity dates pursuant to the terms of the Trinity Amendment: Drawdown Date Drawdown Amount Principal Balance Purchase Option Fee Discount on Purchase Option Fee Unamortized Discounts and Issuance Costs Monthly Payment Monthly Payment (interest only period) Stated Interest Rate Amended Effective Interest Rate Maturity Date (unaudited; in thousands) 09/25/18 $ 5,000 $ 2,378 $ 600 $ (28) $ (170) $ 160 $ 20 9.43 % 24.38 % 04/01/22 12/11/18 2,800 1,566 336 (22) (73) 90 13 9.68 % 18.25 % 07/01/22 06/06/19 2,300 1,654 276 (31) (100) 74 14 9.93 % 18.08 % 01/01/23 09/13/19 2,300 1,831 276 (38) (126) 74 16 9.93 % 18.04 % 04/01/23 11/27/19 1,600 1,354 192 (31) (104) 52 12 9.93 % 18.16 % 06/01/23 Total $ 14,000 $ 8,783 $ 1,680 $ (150) $ (573) $ 450 $ 75 The following table summarizes the Company's build-to-suit obligation as of September 30, 2020 (unaudited; in thousands) : Build-to-suit obligation principal amount $ 8,783 Build-to-suit obligation Purchase Option Fees at present value 1,530 Less: unamortized Purchase Option Fees (441) unamortized fair value of free-standing warrants (46) unamortized debt discount (81) unamortized debt issuance costs (5) Build-to-suit obligation, net of debt issuance costs and discount $ 9,740 Build-to-suit obligation, current portion $ 4,293 Build-to-suit obligation, long-term portion, net of debt issuance costs and discount 5,447 Build-to-suit obligation, net of debt issuance costs and discount $ 9,740
Schedule of Maturities of Long-term Debt	The following table summarizes the future minimum payments on the Company’s build-to-suit obligation for each year ending December 31, including payment of principal, interest and Purchase Option Fees as of September 30, 2020: Principal Interest Purchase Option Fee (unaudited; in thousands) Remainder of 2020 $ 753 $ 222 $ — 2021 4,779 618 — 2022 2,979 189 936 2023 272 8 744 Total $ 8,783 $ 1,037 $ 1,680
Schedule of Interest	The following table summarizes interest incurred on the Company's build-to-suit obligation for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (unaudited; in thousands) (unaudited; in thousands) Build-to-suit obligation, cash interest expense $ 225 $ 210 $ 705 $ 556 Build-to-suit obligation, effective interest expense 147 159 560 545 Less: build-to-suit obligation, interest capitalized (217) (109) (746) (841) Build-to-suit obligation interest expense $ 155 $ 260 $ 519 $ 260

Common Stock Warrants (Tables)

Common Stock Warrants (Tables)	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Summary of Warrants Issued and Outstanding	The following table summarizes the Company’s common stock warrants issued and outstanding as of the periods presented: Warrants Outstanding Issued Exercised Expired Warrants Outstanding Exercise Price Expiration Date (unaudited) Series E - March 2020 — 11,903,506 (7,194,004) — 4,709,502 $ 0.8025 03/06/25 Series D - February 2020 — 2,161,539 (2,161,539) — — Series C - February 2020 — 14,153,846 (13,986,146) — 167,700 $ 0.65 02/14/25 Trinity - September 2018 75,000 — — — 75,000 $ 3.5928 09/25/25 Series B - August 2016 195,906 — — — 195,906 $ 31.00 08/19/21 Amendment to Hercules Term Loan - June 2015 2,035 — — (2,035) — Hercules Term Loan - June 2014 1,583 — — (1,583) — Total 274,524 28,218,891 (23,341,689) (3,618) 5,148,108

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The following table summarizes activity under the Amended and Restated 2014 Equity and Incentive Plan (“2014 Plan”), the 2012 Stock Incentive Plan (“2012 Plan”) and inducement grants issued to new employees outside of the 2014 Plan in accordance with Nasdaq Listing Rule 5635(c)(4) for the nine months ended September 30, 2020 (unaudited) : Number of Shares Subject to Outstanding Stock Options Weighted-Average Number of RSUs outstanding Weighted-Average Outstanding at January 1, 2020 2,260,307 $ 4.29 — $ — Granted 775,625 $ 0.99 343,442 $ 0.84 Canceled/forfeited/expired (362,488) $ 3.81 (1,125) $ 0.84 Outstanding at September 30, 2020 2,673,444 $ 3.40 342,317 $ 0.84
Summary of Stock-Based Compensation Expense	The following table summarizes the Company's stock compensation expense for each of the periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (unaudited; in thousands) (unaudited; in thousands) Research and development $ 177 $ 206 $ 507 $ 549 General and administrative 262 217 657 621 Total $ 439 $ 423 $ 1,164 $ 1,170

Organization and Basis of Pre_2

Organization and Basis of Presentation (Detail)

Oct. 20, 2020subjecttrail

Sep. 30, 2020USD ($)$ / sharesshares

Aug. 31, 2020USD ($)$ / sharesshares

Jun. 08, 2020USD ($)

May 27, 2020

May 26, 2020

Mar. 04, 2020USD ($)$ / sharesshares

Feb. 14, 2020USD ($)$ / sharesshares

Aug. 19, 2019USD ($)

Sep. 30, 2020USD ($)$ / sharesshares

Mar. 31, 2020$ / sharesshares

Sep. 30, 2020USD ($)$ / sharesshares

Sep. 30, 2019USD ($)

Oct. 06, 2020USD ($)

Oct. 04, 2020USD ($)

Aug. 05, 2020$ / shares

Apr. 16, 2020USD ($)

Dec. 31, 2019USD ($)

Subsequent Event [Line Items]

Accumulated deficit | $

$ 324,092,000

$ 324,092,000

$ 324,092,000

$ 298,821,000

Money market funds classified as cash equivalents | $

$ 43,600,000

$ 43,600,000

$ 43,600,000

Average price per share (in USD per share) | $ / shares

$ 1.30

Series E - March 2020

Subsequent Event [Line Items]

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

$ 0.8025

$ 0.8025

$ 0.8025

Series C Warrant

Subsequent Event [Line Items]

Proceeds from exercises of warrants | $

$ 6,500,000

$ 9,091,000

$ 0

Series D Pre Funded Warrant

Subsequent Event [Line Items]

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

$ 0.0001

Paycheck Protection Program Loan | Forgivable Loan

Subsequent Event [Line Items]

Drawdown amount | $

$ 1,600,000

Build to Suit Obligation | Trinity Capital Fund III, L.P.

Subsequent Event [Line Items]

Term of agreement

42 months

36 months

Drawdown amount | $

$ 14,000,000

$ 14,000,000

$ 14,000,000

Build-to-Suit Obligation, Condition One | Trinity Capital Fund III, L.P.

Subsequent Event [Line Items]

Purchase percentage of equipment cost

12.00%

Shelf Registration

Subsequent Event [Line Items]

Shelf registration, ability to offer securities | $

$ 74,500,000

Over-Allotment Option

Subsequent Event [Line Items]

Shares issued in transaction (in shares)

15,937,130

11,903,506

Price of stock sold (in USD per share) | $ / shares

$ 1.304

Consideration from sale of stock | $

$ 20,400,000

$ 8,300,000

Option to purchase period

30 days

Over-Allotment Option | Common Class A

Subsequent Event [Line Items]

Shares issued in transaction (in shares)

10,146,154

Price of stock sold (in USD per share) | $ / shares

$ 0.65

Number of shares of common stock issued (in shares)

1

Over-Allotment Option | Common Class B

Subsequent Event [Line Items]

Shares issued in transaction (in shares)

2,161,539

Price of stock sold (in USD per share) | $ / shares

$ 0.6499

Term of warrants

5 years

Over-Allotment Option | Common Class C

Subsequent Event [Line Items]

Shares issued in transaction (in shares)

1,846,153

Over-Allotment Option | Series E - March 2020

Subsequent Event [Line Items]

Price of stock sold (in USD per share) | $ / shares

$ 0.8025

$ 0.8025

$ 0.8025

$ 0.8025

Number of shares issued (in shares)

7,194,004

7,194,004

7,194,004

Over-Allotment Option | Series C Warrant

Subsequent Event [Line Items]

Number of shares of warrants issued (in shares)

10,003,038

13,986,146

Over-Allotment Option | Series C Warrant | Common Class A

Subsequent Event [Line Items]

Number of shares of warrants issued (in shares)

1

Number of securities called by each warrant (in shares)

1

Over-Allotment Option | Series C Warrant | Common Class B

Subsequent Event [Line Items]

Number of shares of warrants issued (in shares)

1

Number of securities called by each warrant (in shares)

1

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

$ 0.65

$ 0.65

$ 0.65

$ 0.65

$ 0.65

Over-Allotment Option | Series D Pre Funded Warrant | Common Class B

Subsequent Event [Line Items]

Number of shares of common stock issued (in shares)

1

Number of shares of warrants issued (in shares)

1

Underwriting Agreement

Subsequent Event [Line Items]

Shares issued in transaction (in shares)

11,686,795

2,151,346

13,237,026

Consideration from sale of stock | $

$ 2,700,000

$ 12,400,000

$ 13,500,000

Maximum aggregate offering price | $

$ 20,000,000

$ 15,000,000

Commissions on proceeds from the sale of shares

3.00%

3.00%

Average price per share (in USD per share) | $ / shares

$ 1.09

$ 1.07

Commissions and other offering expenses | $

$ 84,000

$ 360,000

$ 660,000

Public Stock Offering

Subsequent Event [Line Items]

Shares issued in transaction (in shares)

11,903,506

Price of stock sold (in USD per share) | $ / shares

$ 0.9275

Private Investment in Public Equity

Subsequent Event [Line Items]

Term of warrants

5 years

Proceeds from issuance | $

$ 10,200,000

Private Investment in Public Equity | Series E - March 2020

Subsequent Event [Line Items]

Proceeds from exercises of warrants | $

$ 5,800,000

Subsequent Event | Paycheck Protection Program Loan | Forgivable Loan

Subsequent Event [Line Items]

Drawdown amount | $

$ 1,600,000

Subsequent Event | Commercialization Of Ortypta | Affiliated Entity

Subsequent Event [Line Items]

Total number of subjects | subject

774

Number of trails | trail

5

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Restricted Cash (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 455	$ 455	$ 455
Deposit, Building Lease
Cash and Cash Equivalents [Line Items]
Restricted cash	300	300
Deposit, Utility Provider
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 100	$ 100

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Reconciliation of Cash and Cash Equivalents, and Restricted Cash (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 43,554	$ 6,316	$ 6,492
Restricted cash	455	455	455
Total	$ 44,009	$ 6,771	$ 6,947	$ 9,595

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Outstanding Common Stock Equivalents Excluded From Computations of Diluted Net Loss per Common Share (Detail) - shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock excluded from computation of diluted net loss per share (in shares)	8,163,869	2,140,502
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock excluded from computation of diluted net loss per share (in shares)	5,148,108	274,524
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock excluded from computation of diluted net loss per share (in shares)	2,673,444	1,865,978
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock excluded from computation of diluted net loss per share (in shares)	342,317	0

Master Services Agreement wit_2

Master Services Agreement with Eversana (Details) - Commercialization Of Ortypta - Eversana $ in Millions	Aug. 06, 2020USD ($)
Related Party Transaction [Line Items]
Commercialization budget	$ 250
Affiliated Entity
Related Party Transaction [Line Items]
Term of agreement	5 years
Affiliated Entity | Revolving Credit Facility
Related Party Transaction [Line Items]
Maximum borrowing capacity	$ 5
Stated interest rate	10.00%

Cash Equivalents and Investme_3

Cash Equivalents and Investments in Marketable Securities - Summary of Cash Equivalents and Investments Carried at Fair Value (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Schedule Of Cash Equivalents And Available For Sale Investments [Line Items]
Money market funds classified as cash equivalents	$ 43,600,000
Money Market Funds | Recurring
Schedule Of Cash Equivalents And Available For Sale Investments [Line Items]
Money market funds classified as cash equivalents	38,417,000	$ 0
Money Market Funds | Recurring | Quoted prices in active market Level 1
Schedule Of Cash Equivalents And Available For Sale Investments [Line Items]
Money market funds classified as cash equivalents	38,417,000
Money Market Funds | Recurring | Significant other observable inputs Level 2
Schedule Of Cash Equivalents And Available For Sale Investments [Line Items]
Money market funds classified as cash equivalents	0
Money Market Funds | Recurring | Significant unobservable inputs Level 3
Schedule Of Cash Equivalents And Available For Sale Investments [Line Items]
Money market funds classified as cash equivalents	$ 0

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Prepaid insurance	$ 289	$ 49
Prepaid services	144	316
Prepaid software, subscriptions and deferred implementation costs	133	61
Deferred offering costs	48	65
Other	1	6
Total	$ 615	$ 497

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment at cost	$ 58,438	$ 51,484
Less: accumulated depreciation property and equipment	(27,778)	(26,821)
Less: accumulated amortization right-of-use assets	(39)	(27)
Total	30,621	24,636
Accumulated capitalized interest costs	2,200
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	24,212	16,932
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,532	12,173
Laboratory and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,617	1,585
Right-of-use asset, gross	25	25
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	138	138
Right-of-use asset, gross	29	29
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	17,885	$ 20,602
Construction In Progress, Build-to-suit
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 14,300

Balance Sheet Components - Depr

Balance Sheet Components - Depreciation and Amortization Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 476	$ 157	$ 993	$ 518

Balance Sheet Components - Othe

Balance Sheet Components - Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Construction-in-progress obligations	$ 2,962	$ 3,422
Professional service fees	239	206
Pre-clinical and clinical studies	16	43
Contract manufacturing	13	250
Accrued taxes	0	27
Other	164	224
Total	$ 3,394	$ 4,172

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Jan. 31, 2018
Lessee, Lease, Description [Line Items]
Renewal term	60 months
Operating lease right-of-use assets	$ 5,204	$ 5,763
Operating lease liability	6,390
Telephone Equipment
Lessee, Lease, Description [Line Items]
Term of lease			3 years
Embedded Lease
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	153
Operating lease liability	$ 153

Leases - Description of Lease C

Leases - Description of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease costs	$ 422	$ 422	$ 1,266	$ 1,250
Finance lease costs:
Amortization of finance lease right-of-use assets	4	4	12	23
Interest on finance lease obligations	2	3	6	15
Total	$ 428	$ 429	$ 1,284	$ 1,288

Leases - Description of Cash Pa

Leases - Description of Cash Payment (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating cash flows from operating leases - cash paid for operating leases	$ 1,388	$ 1,332
Operating cash flows from finance leases - cash paid for interest	6	9
Financing cash flows from finance leases - cash paid for principal	$ 12	$ 10

Leases - Description of Other L

Leases - Description of Other Lease Information (Details)	Sep. 30, 2020
Operating leases
Weighted-average remaining lease term (in years)	3 years 11 months 15 days
Weighted average discount rate	11.00%
Finance leases
Weighted-average remaining lease term (in years)	1 year 2 months 19 days
Weighted average discount rate	26.00%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Operating leases
Remainder of 2020	$ 490
2021	1,981
2022	2,045
2023	2,017
2024	1,372
Total undiscounted cash flows	7,905
Less: amount representing interest	(1,515)
Present value of lease liabilities	6,390
Current portion	1,332	$ 1,140
Long-term portion	5,058	$ 5,931
Finance leases
Remainder of 2020	7
2021	14
2022	3
2023	0
2024	0
Total undiscounted cash flows	24
Less: amount representing interest	(4)
Present value of lease liabilities	20
Current portion	14
Long-term portion	$ 6

Debt Financing - Narrative (Det

Debt Financing - Narrative (Detail) - USD ($)	May 27, 2020	May 26, 2020	Sep. 30, 2018	Oct. 06, 2020	Oct. 04, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Accumulated capitalized interest costs						$ 2,200,000
Common stock issued (in shares)						102,066,218	23,503,214
Paycheck Protection Program Loan | Forgivable Loan
Debt Instrument [Line Items]
Drawdown amount					$ 1,600,000
Paycheck Protection Program Loan | Forgivable Loan | Subsequent Event
Debt Instrument [Line Items]
Drawdown amount				$ 1,600,000
Construction In Progress, Build-to-suit
Debt Instrument [Line Items]
Property and equipment, gross						$ 14,300,000
Trinity Capital Fund III, L.P.
Debt Instrument [Line Items]
Proceeds from issuance of warrants			$ 243,000
Trinity Capital Fund III, L.P. | Warrants to purchase common stock
Debt Instrument [Line Items]
Common stock issued (in shares)			75,000
Trinity Capital Fund III, L.P. | Build to Suit Obligation
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 14,000,000
Proceeds from lines of credit			5,000,000
Minimum incremental borrowing capacity			$ 500,000
Term of agreement	42 months	36 months
Debt instrument, no interest payment period	6 months
Common stock warrant exercise price (in USD per share)			$ 3.5928
Build-to-suit obligation			$ 5,000,000
Drawdown amount						$ 14,000,000
Trinity Capital Fund III, L.P. | Build-to-Suit Obligation, Condition One
Debt Instrument [Line Items]
Purchase percentage of equipment cost	12.00%

Debt Financing - Summary of Deb

Debt Financing - Summary of Debt Obligations (Details) - Build to Suit Obligation	9 Months Ended
	Sep. 30, 2020USD ($)
Debt Instrument [Line Items]
Principal Balance	$ 8,783,000
Trinity Capital Fund III, L.P.
Debt Instrument [Line Items]
Drawdown Amount	14,000,000
Principal Balance	8,783,000
Purchase Option Fee	1,680,000
Discount on Purchase Option Fee	(150,000)
Unamortized Discounts and Issuance Costs	(573,000)
Monthly Payment	450,000
Monthly Payment (interest only period)	75,000
Trinity Capital Fund III, L.P. | Drawdown Maturity Date Of April 01, 2022
Debt Instrument [Line Items]
Drawdown Amount	5,000,000
Principal Balance	2,378,000
Purchase Option Fee	600,000
Discount on Purchase Option Fee	(28,000)
Unamortized Discounts and Issuance Costs	(170,000)
Monthly Payment	160,000
Monthly Payment (interest only period)	$ 20,000
Stated Interest Rate	9.43%
Amended Effective Interest Rate	24.38%
Trinity Capital Fund III, L.P. | Drawdown Maturity Date Of July 1, 2022
Debt Instrument [Line Items]
Drawdown Amount	$ 2,800,000
Principal Balance	1,566,000
Purchase Option Fee	336,000
Discount on Purchase Option Fee	(22,000)
Unamortized Discounts and Issuance Costs	(73,000)
Monthly Payment	90,000
Monthly Payment (interest only period)	$ 13,000
Stated Interest Rate	9.68%
Amended Effective Interest Rate	18.25%
Trinity Capital Fund III, L.P. | Drawdown Maturity Date Of January 1 2023
Debt Instrument [Line Items]
Drawdown Amount	$ 2,300,000
Principal Balance	1,654,000
Purchase Option Fee	276,000
Discount on Purchase Option Fee	(31,000)
Unamortized Discounts and Issuance Costs	(100,000)
Monthly Payment	74,000
Monthly Payment (interest only period)	$ 14,000
Stated Interest Rate	9.93%
Amended Effective Interest Rate	18.08%
Trinity Capital Fund III, L.P. | Drawdown Maturity Date Of April 1, 2023
Debt Instrument [Line Items]
Drawdown Amount	$ 2,300,000
Principal Balance	1,831,000
Purchase Option Fee	276,000
Discount on Purchase Option Fee	(38,000)
Unamortized Discounts and Issuance Costs	(126,000)
Monthly Payment	74,000
Monthly Payment (interest only period)	$ 16,000
Stated Interest Rate	9.93%
Amended Effective Interest Rate	18.04%
Trinity Capital Fund III, L.P. | Drawdown Maturity Date Of June 01 2023
Debt Instrument [Line Items]
Drawdown Amount	$ 1,600,000
Principal Balance	1,354,000
Purchase Option Fee	192,000
Discount on Purchase Option Fee	(31,000)
Unamortized Discounts and Issuance Costs	(104,000)
Monthly Payment	52,000
Monthly Payment (interest only period)	$ 12,000
Stated Interest Rate	9.93%
Amended Effective Interest Rate	18.16%

Debt Financing - Schedule of Lo

Debt Financing - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Build-to-suit obligation, long-term portion, net of debt issuance costs and discount	$ 1,416	$ 0
Build to Suit Obligation
Debt Instrument [Line Items]
Build-to-suit obligation principal amount	8,783
Build-to-suit obligation Purchase Option Fees at present value	1,530
Less: unamortized Purchase Option Fees	(441)
unamortized fair value of free-standing warrants	(46)
unamortized debt discount	(81)
unamortized debt issuance costs	(5)
Build-to-suit obligation, net of debt issuance costs and discount	9,740
Build-to-suit obligation, current portion	4,293
Build-to-suit obligation, long-term portion, net of debt issuance costs and discount	$ 5,447

Debt Financing - Future Minimum

Debt Financing - Future Minimum Payments (Details) $ in Thousands	Sep. 30, 2020USD ($)
Principal
Remainder of 2020	$ 753
2021	4,779
2022	2,979
2023	272
Total	8,783
Interest
Remainder of 2020	222
2021	618
2022	189
2023	8
Total	1,037
Purchase Option Fee
Remainder of 2020	0
2021	0
2022	936
2023	744
Total	$ 1,680

Debt Financing - Interest Expen

Debt Financing - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Build-to-suit obligation interest expense	$ 165	$ 281	$ 561	$ 357
Build to Suit Obligation
Debt Instrument [Line Items]
Build-to-suit obligation, cash interest expense	225	210	705	556
Build-to-suit obligation, effective interest expense	147	159	560	545
Less: build-to-suit obligation, interest capitalized	(217)	(109)	(746)	(841)
Build-to-suit obligation interest expense	$ 155	$ 260	$ 519	$ 260

Commitments and Contingencies (

Commitments and Contingencies (Detail)	Nov. 06, 2020lawsuit	Oct. 29, 2020lawsuit	Sep. 30, 2018USD ($)	Sep. 30, 2020USD ($)
Other Commitments [Line Items]
Purchase commitment period				9 months
Cancellation fees			50.00%
Subsequent Event
Other Commitments [Line Items]
Number of stock holders of class action | lawsuit	2	2
In 2020
Other Commitments [Line Items]
Annual fees			$ 2,000,000
By 2024
Other Commitments [Line Items]
Annual fees			$ 14,000,000
Commercial Coating and Primary Packaging System
Other Commitments [Line Items]
Purchase commitments related to fixed assets				$ 4,000,000
Commitment liability				2,800,000
Manufacturing Space and Technology
Other Commitments [Line Items]
Purchase commitments related to fixed assets				3,900,000
Commitment liability				500,000
Fee for not entering an agreement				2,500,000
Fee for not purchasing the product				4,600,000
Inactivity fee				$ 85,000

Common Stock Warrants (Detail)

Common Stock Warrants (Detail)	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Warrants Outstanding Rollforward [Roll Forward]
Warrants Outstanding as of December 31, 2019 (in shares)	274,524
Issued (in shares)	28,218,891
Exercised (in shares)	(23,341,689)
Expired (in shares)	(3,618)
Warrants Outstanding as of September 30, 2020 (in shares)	5,148,108
Series E - March 2020
Warrants Outstanding Rollforward [Roll Forward]
Warrants Outstanding as of December 31, 2019 (in shares)	0
Issued (in shares)	11,903,506
Exercised (in shares)	(7,194,004)
Expired (in shares)	0
Warrants Outstanding as of September 30, 2020 (in shares)	4,709,502
Exercise price (in USD per share) | $ / shares	$ 0.8025
Series D - February 2020
Warrants Outstanding Rollforward [Roll Forward]
Warrants Outstanding as of December 31, 2019 (in shares)	0
Issued (in shares)	2,161,539
Exercised (in shares)	(2,161,539)
Expired (in shares)	0
Warrants Outstanding as of September 30, 2020 (in shares)	0
Series C - February 2020
Warrants Outstanding Rollforward [Roll Forward]
Warrants Outstanding as of December 31, 2019 (in shares)	0
Issued (in shares)	14,153,846
Exercised (in shares)	(13,986,146)
Expired (in shares)	0
Warrants Outstanding as of September 30, 2020 (in shares)	167,700
Exercise price (in USD per share) | $ / shares	$ 0.65
Trinity - September 2018
Warrants Outstanding Rollforward [Roll Forward]
Warrants Outstanding as of December 31, 2019 (in shares)	75,000
Issued (in shares)	0
Exercised (in shares)	0
Expired (in shares)	0
Warrants Outstanding as of September 30, 2020 (in shares)	75,000
Exercise price (in USD per share) | $ / shares	$ 3.5928
Series B - August 2016
Warrants Outstanding Rollforward [Roll Forward]
Warrants Outstanding as of December 31, 2019 (in shares)	195,906
Issued (in shares)	0
Exercised (in shares)	0
Expired (in shares)	0
Warrants Outstanding as of September 30, 2020 (in shares)	195,906
Exercise price (in USD per share) | $ / shares	$ 31
Amendment to Hercules Term Loan - June 2015
Warrants Outstanding Rollforward [Roll Forward]
Warrants Outstanding as of December 31, 2019 (in shares)	2,035
Issued (in shares)	0
Exercised (in shares)	0
Expired (in shares)	(2,035)
Warrants Outstanding as of September 30, 2020 (in shares)	0
Hercules Term Loan - June 2014
Warrants Outstanding Rollforward [Roll Forward]
Warrants Outstanding as of December 31, 2019 (in shares)	1,583
Issued (in shares)	0
Exercised (in shares)	0
Expired (in shares)	(1,583)
Warrants Outstanding as of September 30, 2020 (in shares)	0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details)	9 Months Ended
	Sep. 30, 2020shares
Share-based Payment Arrangement [Abstract]
Number of additional shares authorized (in shares)	822,612
Number of shares available for grant (in shares)	28,182

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option and Award Activity Including Inducement Grants (Detail)	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Number of Shares Subject to Outstanding Stock Options
Outstanding at January 1, 2020 (in shares) | shares	2,260,307
Granted (in shares) | shares	775,625
Canceled/forfeited/expired (in shares) | shares	(362,488)
Outstanding at September 30, 2020 (in shares) | shares	2,673,444
Weighted-Average Exercise Price per Share
Outstanding at January 1, 2020 (in USD per share) | $ / shares	$ 4.29
Granted (in USD per share) | $ / shares	0.99
Canceled/forfeited/expired (in USD per share) | $ / shares	3.81
Outstanding at September 30, 2020 (in USD per share) | $ / shares	$ 3.40
RSUs
Number of RSUs outstanding
Outstanding at January 1, 2020 (in shares) | shares	0
Granted (in shares) | shares	343,442
Canceled/forfeited/expired (in shares) | shares	(1,125)
Outstanding at September 30, 2020 (in shares) | shares	342,317
Weighted-Average grant date fair value
Outstanding at January 1, 2020 (in USD per share) | $ / shares	$ 0
Granted (in USD per share) | $ / shares	0.84
Canceled/forfeited/expired (in USD per share) | $ / shares	0.84
Outstanding at September 30, 2020 (in USD per share) | $ / shares	$ 0.84

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 439	$ 423	$ 1,164	$ 1,170
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	177	206	507	549
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 262	$ 217	$ 657	$ 621