Evofem Biosciences (EVFM) 10-K 4 Mar 21 2020 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 28, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36754
Entity Registrant Name	EVOFEM BIOSCIENCES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-8527075
Entity Address, Address Line One	12400 High Bluff Drive
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	858
Local Phone Number	550-1900
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 190,546,003
Entity Common Stock, Shares Outstanding		83,119,033
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE None.
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001618835
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	EVFM
Security Exchange Name	NASDAQ
Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Series A Preferred Stock Purchase Rights, par value $0.0001 per share
No Trading Symbol Flag	true
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 48,892	$ 15,571
Restricted cash	22,559	304
Short-term investments	0	8,233
Trade accounts receivable, net	1,067	0
Inventories	7,162	0
Prepaid and other current assets	18,050	2,313
Total current assets	97,730	26,421
Property and equipment, net	4,334	394
Operating lease right-of-use assets	6,856	160
Other noncurrent assets	1,048	1,320
Total assets	109,968	28,295
Current liabilities:
Accounts payable	10,641	6,008
Convertible notes payable (Note 5)	52,409	0
Accrued expenses	4,476	2,784
Accrued compensation	6,514	3,670
Operating lease liabilities – current	2,290	197
Other current liabilities	953	0
Total current liabilities	77,283	12,659
Operating lease liabilities – noncurrent	6,030	0
Long-term convertible notes payable (Note 5)	25,211	0
Other noncurrent liabilities	97	0
Total liabilities	108,621	12,659
Commitments and contingencies (Note 8)
Preferred stock, $0.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding	0	0
Stockholders’ equity:
Common stock, $0.0001 par value; 300,000,000 shares authorized; 81,351,533 and 48,137,880 shares issued and outstanding at December 31, 2020 and 2019, respectively	8	5
Additional paid-in capital	656,827	528,810
Accumulated deficit	(655,488)	(513,179)
Total stockholders’ equity	1,347	15,636
Total liabilities and stockholders’ equity	$ 109,968	$ 28,295

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars 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 dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	81,351,533	48,137,880
Common stock, shares outstanding (in shares)	81,351,533	48,137,880

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Product sales, net	$ 446	$ 0
Operating expenses:
Cost of goods sold	468	0
Research and development	17,050	22,230
Selling and marketing	56,467	10,238
General and administrative	30,085	20,274
Total operating expense	104,070	52,742
Loss from operations	(103,624)	(52,742)
Other income (expense):
Interest income	169	458
Other (expense) income	(2,082)	301
Loss on issuance of financial instruments	(64,049)	(674)
Change in fair value of financial instruments	27,281	(27,372)
Total other expense, net	(38,681)	(27,287)
Loss before income tax	(142,305)	(80,029)
Income tax expense	(4)	(4)
Net loss	$ (142,309)	$ (80,033)
Net loss per share, basic and diluted (in dollars per share)	$ (2.12)	$ (1.99)
Weighted-average shares used to compute net loss per share, basic and diluted (in shares)	67,157,278	40,228,517

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	ATM	ATMCommon Stock	ATMAdditional Paid-in Capital	Exercise of Warrants	Exercise of WarrantsCommon Stock	Exercise of WarrantsAdditional Paid-in Capital	Private Placement	Private PlacementCommon Stock	Private PlacementAdditional Paid-in Capital
Beginning balance (in shares) at Dec. 31, 2018		25,867,248
Beginning balance at Dec. 31, 2018	$ (23,356)	$ 3	$ 409,787	$ (433,146)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock (in shares)						515,019			3,438,133			17,777,779
Issuance of stock					$ 3,012		$ 3,012	$ 10,618		$ 10,618	$ 68,324	$ 2	$ 68,322
Financing costs in connection with the Private Placement (see Note 10)	(60)		(60)
Issuance of common stock - ESPP and exercise of stock options (in shares)		88,074
Issuance of common stock - ESPP and exercise of stock options	392		392
Restricted stock awards/units issued (in shares)		720,333
Shares withheld to cover taxes related to vesting of restricted stock awards (in shares)		(268,706)
Shares withheld to cover taxes related to vesting of restricted stock awards	(1,566)		(1,566)
Reclassification from financial instruments liability to equity	29,726		29,726
Stock-based compensation	8,579		8,579
Net loss	(80,033)			(80,033)
Ending balance at Dec. 31, 2019	15,636	$ 5	528,810	(513,179)
Ending balance (in shares) at Dec. 31, 2019		48,137,880
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock (in shares)		31,700,000				676,656			200
Issuance of stock	103,266	$ 3	103,263		$ 3,362		$ 3,362
Issuance of common stock - ESPP and exercise of stock options (in shares)		150,353
Issuance of common stock - ESPP and exercise of stock options	360		360
Restricted stock awards/units issued (in shares)		1,356,667
Shares withheld to cover taxes related to vesting of restricted stock awards (in shares)		(670,223)
Shares withheld to cover taxes related to vesting of restricted stock awards	(2,869)		(2,869)
Short-swing profit disgorgement	187		187
Reclassification of warrant and Purchase Rights liability to equity	11,015		11,015
Stock-based compensation	12,697		12,697					$ 2		$ 2
Net loss	(142,309)			(142,309)
Ending balance at Dec. 31, 2020	$ 1,347	$ 8	$ 656,827	$ (655,488)
Ending balance (in shares) at Dec. 31, 2020		81,351,533

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (142,309)	$ (80,033)
Adjustments to reconcile net loss to net cash, cash equivalents and restricted cash used in operating activities:
Loss on issuance of financial instruments	64,049	674
Change in fair value of financial instruments	(27,281)	27,372
Stock-based compensation	12,697	8,579
Depreciation	302	263
Loss from sale of property and equipment	0	79
Noncash lease expenses	879	642
Noncash interest expenses	2,061	0
Changes in operating assets and liabilities:
Accounts receivable	(1,067)	0
Inventories	(6,010)	0
Prepaid and other assets	(17,356)	(952)
Accounts payable	4,126	(2,931)
Accrued expenses and other liabilities	2,729	(8,775)
Accrued compensation	2,844	746
Operating lease liabilities	(493)	(761)
Net cash, cash equivalents and restricted cash used in operating activities	(104,829)	(55,097)
Cash flows from investing activities:
Proceeds from sale of property and equipment	0	32
Proceeds from sale of Softcup line of business	250	250
Purchases of property and equipment	(2,254)	(164)
Purchase of short-term investments	0	(8,233)
Maturities of short-term investments	8,233	0
Net cash, cash equivalents and restricted cash provided by (used in) investing activities	6,229	(8,115)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of discounts and commissions - Public Offering	103,738	0
Proceeds from issuance of common stock - exercise of warrants	2	6,273
Proceeds from issuance of common stock, warrants and Purchase Rights in connection with the 2019 Private Placement, net of financial advisory fees	0	75,400
Proceeds from issuance of common stock, net of commissions - ATM transactions	3,781	2,960
Proceeds from issuance of common stock - ESPP and exercise of stock options	447	305
Borrowings under convertible notes	50,000	0
Short-swing profit disgorgement	187	0
Repayment of Vendor Note	0	(4,010)
Cash paid for financing and debt issuance costs	(1,060)	(1,286)
Payments of tax withholdings related to vesting of restricted stock awards	(2,869)	(1,566)
Net cash, cash equivalents and restricted cash provided by financing activities	154,226	78,076
Net change in cash, cash equivalents and restricted cash	55,626	14,864
Cash, cash equivalents and restricted cash, beginning of period	16,625	1,761
Cash, cash equivalents and restricted cash, end of period	72,251	16,625
Cash paid for taxes	2	4
Supplemental disclosure of noncash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease liabilities	7,618	802
Financing costs included in accounts payable and accrued expenses	0	306
Purchases of property and equipment included in accounts payable and accrued expenses	823	10
Reclassification of financial instruments liability to equity	11,015	6,120
Proceeds from issuance of common stock included in other receivable	$ 0	$ 416

Description of Business and Bas

Description of Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Merger On January 17, 2018 (the Neothetics Closing Date), Neothetics, Inc., a Delaware corporation (Neothetics), now known as Evofem Biosciences, Inc. (the Company), completed its reverse merger (the Merger) with privately-held Evofem Biosciences Operations, Inc. (Private Evofem), in accordance with the terms of the Agreement and Plan of Merger and Reorganization, dated October 17, 2017, whereby Nobelli Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Neothetics, merged with and into Private Evofem, with Private Evofem surviving as Neothetics’ wholly-owned subsidiary. Unless otherwise noted, (i) references in this report to “Evofem” and the “Company” refer to Evofem Biosciences, Inc. and its subsidiaries following the closing of the Merger on the Neothetics Closing Date, (ii) references to “Private Evofem” refer to Evofem Biosciences Operations, Inc. and its subsidiaries prior to the closing the Merger on the Neothetics Closing Date, (iii) references to “Neothetics” refer to Neothetics, Inc. and its subsidiaries prior to the closing of the Merger on the Neothetics Closing Date. Description of Business Evofem is a San Diego-based, commercial-stage biopharmaceutical company committed to developing and commercializing innovative products to address unmet needs in women’s sexual and reproductive health, including hormone-free, woman-controlled contraception and protection from certain sexually transmitted infections (STIs). The Company’s first commercial product, Phexxi ® (lactic acid, citric acid, and potassium bitartrate) vaginal gel (Phexxi), was approved by the U.S. Food and Drug Administration (FDA) on May 22, 2020 and is the first and only FDA-approved, hormone-free, woman-controlled, on-demand prescription contraceptive gel for women. The Company commercially launched Phexxi in September 2020. Evofem’s pipeline product candidate, EVO100 vaginal gel (EVO100), is being evaluated for the prevention of Chlamydia trachomatis infection (chlamydia) and Neisseria gonorrhoeae (gonorrhea) in women - two of the most pervasive STIs in the United States. Currently, there are no FDA-approved prescription products for the prevention of either of these dangerous infections. Basis of Presentation and Principles of Consolidation The Company prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States (GAAP) and the rules and regulations of the Securities and Exchange Commission (SEC) related to annual reports on Form 10-K. The Company’s financial statements are presented on a consolidated basis, which include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Reclassification The Company has separated the presentation of selling and marketing expenses from the total general and administrative expenses in the current period consolidated statement of operations. To conform prior year amounts to the current period presentation, a total of $10.2 million was reclassified from general and administrative expenses to selling and marketing expenses for the year ended December 31, 2019. Risks, Uncertainties and Going Concern The consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities, in the normal course of business, and does not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome of this uncertainty. The Company’s principal operations have been related to research and development, including development of Phexxi, selling and marketing related activities for preparation of the commercial launch of Phexxi, as well as raising capital, recruiting personnel and establishing a corporate infrastructure to support a commercial product. The Company has recognized limited revenues since the commercial launch of Phexxi on September 8, 2020 and, as such, has incurred operating losses and negative cash flows from operating activities since inception. As described in Note 5- Convertible Notes and Note 11- Stockholders' Equity , the Company received gross proceeds of $50.0 million from the issuance of convertible notes in the second and fourth quarter of 2020, net proceeds of approximately $103.7 million upon the sale and issuance of common stock from the underwritten public offering in June 2020, and $3.8 million from its “at the market” (ATM) program, net of commissions. As of December 31, 2020, the Company had cash and cash equivalents of $48.9 million, working capital of $20.4 million and an accumulated deficit of $655.5 million. The Company is subject to risks common to other life science companies in the development and early commercial stage including, but not limited to, uncertainty regarding the commercial success of Phexxi and the development of its pipeline product candidate, EVO100, potential disruption of its research and development and commercialization activities as a result of the COVID-19 pandemic, lack of marketing and sales history, potential development by its competitors of new and competitive technological innovations, dependence on key personnel, market acceptance of Phexxi or any other future approved products, if any, product liability, protection of proprietary technology, ability to raise additional financing, and compliance with the FDA and other government regulations, including post marketing regulations. Management’s plans to meet its short- and long-term operating cash flow requirements include generating recurring product revenue and obtaining additional funding, such as through the issuance of its common stock, non-dilutive financings, or through collaborations or partnerships with other companies. While the Company has recognized limited revenues since the launch of Phexxi in September 2020, the Company anticipates it will continue to incur net losses for the foreseeable future. According to management estimates, liquidity resources as of December 31, 2020 are not sufficient to maintain its planned level of operations for the twelve months from the date of issuance of these consolidated financial statements. These circumstances and the uncertainties associated with the Company’s ability to obtain additional equity or debt financing on terms that are favorable to the Company, enter into collaborative agreements with strategic partners, and otherwise succeed in its future operations raise substantial doubt about the Company’s ability to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the notes thereto. S ignificant estimates affecting amounts reported or disclosed in the consolidated financial statements include, but are not limited to: the assumptions used in measuring the revenue gross-to-net variable consideration items, the trade accounts receivable credit loss reserve estimate, the discount rate used in estimating the fair value of the lease right - of - use (ROU) assets and lease liabilities, the assumptions used in estimating the fair value of convertible notes, warrants and purchase rights issued, the useful lives of property and equipment, the recoverability of long-lived assets, clinical trial accruals, the assumptions used in estimating the fair value of stock-based compensation expense and in assessing the probability of achieving certain milestones associated with the performance-based restricted stock awards (performance-based RSAs). These assumptions are more fully described in Note 3- Revenue Recognition , Note 5- Convertible Notes , Note 7- Fair Value of Financial Instruments , Note 8- Commitments and Contingencies , and Note 12- Stock-based Compensation . The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances and adjusts when facts and circumstances dictate. The estimates are the basis for making judgments about the carrying values of assets and liabilities and recorded expenses that are not readily apparent from other sources. As future events and their effects cannot be determined with precision, actual results may materially differ from those estimates or assumptions. Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker, who is the Chief Executive Officer (CEO) of the Company, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in one operating segment. Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. Deposits in the Company’s checking, time deposit and investment accounts are maintained in federally insured financial institutions and are subject to federally insured limits or limits set by Securities Investor Protection Corporation. The Company invests in funds through a major U.S. bank and is exposed to credit risk in the event of default to the extent of amounts recorded on the consolidated balance sheets. The Company has not experienced any losses in such accounts and believes it is not exposed to significant concentrations of credit risk on its cash, cash equivalents and restricted cash balances due to the financial position of the depository institutions in which these deposits are held. The Company is also subject to credit risk related to its trade accounts receivable from product sales. Its customers are located in the United States and consist of wholesale distributors and a specialty retail pharmacy. The Company extends credit to its customers in the normal course of business after evaluating their overall financial condition, and evaluates the collectability of its accounts receivable by periodically reviewing the age of the receivables, the financial condition of its customers, and its past collection experience. Historically, the Company has not experienced any credit losses. As of December 31, 2020, based on the evaluation of these factors the Company did not record an allowance for doubtful accounts. For the year ended December 31, 2020, the Company’s three largest customers made up approximately 92% of its gross product sales and 95% of its trade accounts receivable balance as of December 31, 2020. Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents consist of readily available cash in checking accounts, money market funds, and investments in fixed income debt securities with original maturities of less than three months. Restricted cash consists of cash held in monthly time deposit accounts and letters of credit, which are collateral for the Company’s credit cards, facility leases and fleet leases as described in Note 8- Commitments and Contingencies . As of December 31, 2020, the Company maintained letters of credit of $0.8 million and $0.3 million for its office lease and fleet lease, respectively. Additionally, the remaining $22.2 million of the $25.0 million received from the issuance of convertible unsecured promissory notes in the fourth quarter of 2020 is classified as restricted cash as the Company is contractually obligated to use the funds for specific purposes. The following table provides a reconciliation of cash, cash equivalents and restricted cash, reported within the consolidated statements of cash flows (in thousands): Years Ended December 31, 2020 2019 Cash and cash equivalents $ 48,892 $ 15,571 Restricted cash 22,559 304 Restricted cash included in other noncurrent assets 800 750 Total cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows $ 72,251 $ 16,625 Investments in Marketable Securities The Company's marketable investments are primarily money market funds and fixed income debt securities. Short-term investments consist of marketable fixed income debt securities with original maturities in excess of three months with remaining maturities of less than one year. Marketable fixed income debt securities where the Company has both the positive intent and ability to hold to maturity are classified as held-to-maturity and are carried at amortized cost. Unrealized gains or losses on held-to-maturity securities are not recognized until maturity, except other-than-temporary unrealized losses which are recognized in earnings in the period incurred. The Company evaluates securities with unrealized losses to determine whether such losses are other than temporary. Interest on investments in money market funds is reported in interest income. Trade Accounts Receivable and Allowance Trade accounts receivable are amounts owed to the Company by its customers for product that has been delivered. The trade accounts receivable are recorded at the invoice amount, less prompt pay and other discounts, chargebacks, and an allowance for credit losses, if any. The allowance for credit losses is the Company’s estimate of losses over the life of the receivables. The Company evaluates forward looking economic factors and uses professional judgment to determine the allowance for credit losses, as Phexxi was commercially launched in September 2020 and a significant amount of historical data is not yet available. When the collectability of an invoice is no longer probable, the Company will create a reserve for that specific receivable. If a receivable is determined to be uncollectible, it is charged against the general credit loss reserve or the reserve for the specific receivable, if one exists. Fair Value of Financial Instruments The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which to transact and the market-based risk. The Company applies fair value accounting for all assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. The valuation of assets and liabilities are subject to fair value measurements using a three-tiered approach and fair value measurement is classified and disclosed by the Company in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, restricted cash, accounts payable, Adjuvant convertible notes payable Baker Bros. Purchase Agreement, as described in Note 5- Convertible Note s , accrued expenses and accrued compensation approximate their fair values due to their short-term nature. As of December 31, 2020 and 2019, based on the borrowing rate currently available to the Company for loans with similar terms, which is considered a Level 2 input, the Company believes the fair value of the Flex Note (as defined below) approximates its carrying value. Inventory Inventories, consisting of purchased materials, direct labor and manufacturing overheads, are stated at the lower of cost, or net realizable value. Cost is determined on a first-in, first-out basis. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. At each balance sheet date, the Company evaluates ending inventories for excess quantities, obsolescence, or shelf-life expiration. The evaluation includes an analysis of the Company’s current and future strategic plans, anticipated future sales, the price projections of future demand, and the remaining shelf life of goods on han d. Property and Equipment Property and equipment generally consist of research equipment, computer equipment and software and office furniture, and are recorded at cost and depreciated over the estimated useful lives of the assets (generally three disposed of, the cost and accumulated depreciation are removed from the consolidated balance sheets and any resulting gain or loss is reflected in the consolidated statements of operations in the period realized. Impairment of Long-lived Assets The Company reviews property and equipment for impairment on an annual basis and whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. An impairment loss would be recognized when estimated future undiscounted cash flows relating to the asset or asset group are less than its carrying amount. An impairment loss is measured as the amount by which the carrying amount of an asset or asset group exceeds its fair value. While the Company’s current and historical operating losses and negative cash flows are possible indicators of impairment, management believes that future cash flows to be generated by these assets support the carrying value of its long-lived assets and, accordingly, did not recognize any impairment losses during the years ended December 31, 2020 and 2019. Clinical Trial Accruals As part of the process of preparing the financial statements, the Company is required to estimate expenses resulting from obligations under contracts with vendors, clinical research organizations (CROs), consultants and under clinical site agreements relating to conducting clinical trials. The financial terms of these contracts vary and may result in payment flows that do not match the periods over which materials or services are provided under such contracts. The Company's objective is to reflect the appropriate clinical trial expenses in our consolidated financial statements by recording those expenses in the period in which services are performed and efforts are expended. The Company accounts for these expenses according to the progress of the clinical trial as measured by patient progression and the timing of various aspects of the trial. Management determines accrual estimates through financial models and discussions with applicable personnel and outside service providers as to the progress of clinical trials. During a clinical trial, the Company adjusts the clinical expense recognition if actual results differ from its estimates. The Company makes estimates of accrued expenses as of each balance sheet date based on the facts and circumstances known at that time. The Company’s clinical trial accruals are partially dependent upon accurate reporting by CROs and other third-party vendors. The Company’s understanding of the status and timing of services performed relative to the actual status and timing of services performed may vary and may result in reporting amounts that are too high or too low for any period. Fair Value of Warrants The fair value of each of (i) the warrants issued to funds affiliated with WIM (as defined below) and Invesco (as defined below) in connection with the Merger, (ii) Reload Warrants (as defined below) issued in February 2019, (iii) warrants issued in April and June 2019 in connection with the Private Placement (as defined below), (iv) warrants issued in April and June 2020 in connection with the Baker Notes (as defined below), and (v) the change in fair value of warrants as a result of the modification and mark-to-market adjustments for liability-classified warrants were determined using the Black Scholes Merton (BSM) option-pricing model based on the applicable assumptions, which includes the exercise price of warrants, time to expiration, expected volatility of our peer group, risk-free interest rate and expected dividend. Fair Value of Purchase Rights The fair value of the Purchase Rights (as defined below) issued in connection with the Private Placement were determined using a combination of a lattice model and BSM option-pricing model. The lattice model was used to determine the future value of the Company’s common stock as of the Second Closing (as defined below). The BSM option-pricing model was used to determine the fair value of the warrants issued at the First Closing (as defined below) and Second Closing and the existing warrants subsequently canceled at the Second Closing (see discussion of the warrants canceled in Note 10- 2019 Private Placement ) based on the applicable assumptions. The initial fair value of the Baker Purchase Rights issued in connection with the Baker Bros. Purchase Agreement, as described in Note 5- Convertible Notes and the subsequent change in fair value of Baker Purchase Rights upon exercise of such rights, was determined as the maximum of (i) the fair value of rights to purchase the additional $10 million Baker Notes and; (ii) the fair value of the shares of on as-if converted basis, which was determined by the lattice model. The fair value of rights to purchase the accompanying 2,049,180 Baker Warrants (as defined below) was valued using a Geske option-pricing model (Geske model). The Geske model was based on the applicable assumptions, including the underlying stock price, warrant exercise price, the exercise price of the rights to purchase the Baker Warrants, the term of the Baker Warrants, the term of the rights to purchase the Baker Warrants, expected volatility of the Company’s peer group, risk-free interest rate and expected dividend. Leases The Company determines if an arrangement is a lease or implicitly contains a lease at inception based on the lease definition, and if the lease is classified as an operating lease or finance lease in accordance with ASC 842, Leases (ASC842). Operating leases are included in operating lease ROU assets and operating lease liabilities in its consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at commencement date or the Adoption Date for existing leases based on the present value of lease payments over the lease term using an estimated discount rate. As the Company’s leases do not provide an implicit rate, the Company used an incremental borrowing rate based on the information available at commencement date or the Adoption Date in determining the present value of lease payments over a similar term. In determining the estimated incremental borrowing rate, the Company considered a rate obtained from its primary banker for discussion purposes of a potential collateralized loan with a term similar to the lease term, the Company’s historical borrowing capability in the market, and the Company’s costs incurred for underwriting discounts and financing costs in its previous equity financing. The ROU assets also include any lease payments made and exclude lease incentives. For operating leases, lease expense is recognized on a straight-line basis over the lease term. Lease and non-lease components within a contract are generally accounted for separately. Operating lease ROU assets and lease liabilities were $6.9 and $8.3 million at December 31, 2020, respectively, and were both $0.2 million at December 31, 2019. See Note 8 - Commitments and Contingencies for more detail discussions on leases and financial statements information under ASC 842. Revenue The Company recognizes revenue from the sale of Phexxi in accordance with ASC 606, Revenue from Contracts with Customers (ASC 606). Revenue is recognized when the Company’s performance obligation is satisfied by transferring control of the product to a customer. In accordance with the Company’s contracts with customers, control of the product is transferred upon the conveyance of title, which occurs when the product is sold to and received by a customer. The amount of revenue recognized by the Company is equal to the amount of consideration that is expected to be received from the sale of product to its customers. An estimate for variable consideration is made with each sale and is recorded in conjunction with the revenue being recognized. To calculate the variable consideration, the Company uses the expected value method. If the estimated amount is payable to a customer, it is recorded as a reduction to accounts receivable. If the estimated amount is payable to an entity other than a customer, it is recorded as a current liability. Research and Development Research and development expenses include the costs associated with the Company’s research and development activities, including, but not limited to, payroll and personnel-related expenses, stock-based compensation expense, materials, laboratory supplies, clinical studies, and outside services. Research and development costs are expensed as incurred, except when accounting for nonrefundable advance payments for goods or services not yet received. These payments, if any, are capitalized at the time of payment and expensed as the related goods are delivered or the services are performed. Advertising Costs for producing advertising are expensed when incurred. Costs for communicating advertising, such as television commercial airtime and print media space, are recorded as prepaid expenses and then expensed when the advertisement occurs. Patent Expenses The Company expenses all costs incurred relating to patent applications (including direct application fees, and the legal and consulting expenses related to making such applications) and such costs are included in general and administrative expenses in the consolidated statements of operations. Stock-based Compensation Stock-based compensation expense for stock options issued to employees, nonemployee directors and consultants is measured based on estimating the fair value of each stock option on the date of grant using the BSM option-pricing model. Expensing The following table summarizes the Company’s stock-based awards expensing policies for employees and nonemployees: Employees and Nonemployee Consultants After Adopting ASU 2018-07 Service only condition Straight-line based on the grant date fair value Performance criterion is probable of being met: Service criterion is complete Recognize the grant date fair value of the award(s) once the performance criterion is considered probable of occurrence Service criterion is not complete Expense using an accelerated multiple-option approach (1) over the remaining requisite service period Performance criterion is not probable of being met and: Is not tied to the successful completion of an initial public offering of the Company’s common stock (IPO) No expense is recognized until the performance criterion is considered probable at which point expense is recognized using an accelerated multiple-option approach Is tied to the successful completion of an IPO by the Company Upon closing of an IPO by the Company, recognize the grant date fair value of the award(s) ________________ (1) The accelerated multiple-option approach results in compensation expense being recognized for each separately vesting tranche of the award as though the award was in substance multiple awards and, therefore, results in accelerated expense recognition during the earlier vesting periods. Fair Value of Stock Options The fair value of stock options were determined using the BSM option-pricing model based on the applicable assumptions, which includes the exercise price of warrants, time to expiration, expected volatility of our peer group, risk-free interest rate and expected dividend. Forfeitures The Company records forfeitures when they occur. Performance-based Awards For performance-based RSAs (i) the fair value of the award is determined on the grant date, (ii) the Company assesses the probability of the individual milestone under the award being achieved and (iii) the fair value of the shares subject to the milestone is expensed over the implicit service period commencing once management believes the performance criteria is probable of being met. If the Performance-based RSAs are modified, the Company applies the share-based payment modification accounting in accordance with ASC 718, Compensation-Stock Compensation (ASC 718). Income Taxes The accounting guidance for uncertainty in income taxes prescribes a recognition threshold and measurement attribute criteria for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities based on the technical merits of the position. The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The Company provides a valuation allowance against net deferred tax assets unless, based upon the available evidence, it is more likely than not that the deferred tax assets will be realized. When the Company establishes or reduces the valuation allowance against its deferred tax assets, its provision for income taxes will increase or decrease, respectively, in the period such determination is made. Net Loss Per 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 share is computed by dividing the net loss 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, potentially dilutive securities 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. Potentially dilutive securities excluded from the calculation of diluted net loss per share are summarized in the table below. Years Ended December 31, 2020 2019 Unvested restricted common stock subject to repurchase 80,000 110,000 Unvested restricted stock units — 81,667 Common stock to be purchased under the 2019 ESPP 204,664 49,793 Options to purchase common stock 8,935,801 6,419,383 Warrants to purchase common stock 10,426,107 5,305,377 Total 19,646,572 11,966,220 Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments - Credit Losses , removing, modifying and adding certain disclosure requirements of ASC 326, Measurement of Credit Losses on Financial Instruments (ASU No. 2016-13), which requires credit losses relating to held-to maturity debt securities should be recorded through an allowance for credit losses. ASU No. 2016-13 was effective for the Company on January 1, 2020. The adoption of this new standard did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (ASU No. 2018-13), which removes, modifies, and adds certain disclosure requirements on fair value measurements in ASC 820, Fair Value Measurements and Disclosures . ASU No. 2018-13 was effective for the Company on January 1, 2020. The adoption of this new standard did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other removing, modifying and adding certain disclosure requirements of ASC 350, Internal-Use Software (ASU No. 2018-15), which requires capitalizing implementation costs incurred to develop or obtain internal-use software in a cloud computing arrangement that is a service contract. ASU No. 2018-15 was effective for the Company on January 1, 2020. The adoption of this new standard did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements — Not Yet Adopted In August 2020, the FASB issued ASU No. 2020-06, Debt (ASU No. 2020-06) , removing, modifying, and adding certain disclosure requirements of ASC 470, Debt with Conversion and Other Options , and ASC 815, Derivatives and Hedging - Contracts in Entity’s Own Equity (ASC 815) . ASU No. 2020-06 will be effective for the Company beginning January 1, 2024. The Company is currently evaluating the expected impact of ASU 2020-06 on the consolidated financial statements.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue	RevenueThe Company recognizes revenue from the sale of Phexxi in accordance with ASC 606. The provisions of ASC 606 require the following steps to determine revenue recognition: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; (5) recognize revenue when (or as) the entity satisfies a performance obligation. In accordance with ASC 606, the Company recognizes revenue when its performance obligation is satisfied by transferring control of the product to a customer. In accordance with the Company’s contracts with customers, control of the product is transferred upon the conveyance of title, which occurs when the product is sold to and received by a customer. The Company’s customers are located in the United States and consist of wholesale distributors and a specialty retail pharmacy. Payment terms typically range from 45 to 66 days, include prompt pay discounts, and vary by customer. Trade accounts receivable due to the Company from contracts with its customers are stated separately in the balance sheet, net of various allowances as described in the Trade Accounts Receivable policy in Note 2- Summary of Significant Accounting Policies . The amount of revenue recognized by the Company is equal to the amount of consideration that is expected to be received from the sale of product to its customers. Revenue is only recognized when the performance obligation is satisfied. To determine whether a significant reversal will occur in future periods, the Company assesses both the likelihood and magnitude of any such potential reversal of revenue. Phexxi is sold to customers at the wholesale acquisition cost (WAC). However, the Company records product revenue, net of reserves for applicable variable consideration. These types of variable consideration reduce revenue and include the following: • Distribution services fees • Prompt pay and other discounts • Product returns • Chargebacks • Rebates • Co-pay programs An estimate for variable consideration is made with each sale and is recorded in conjunction with the revenue being recognized. To calculate the variable consideration, the Company uses the expected value method. If the estimated amount is payable to a customer, it is recorded as a reduction to accounts receivable. If the estimated amount is payable to an entity other than a customer, it is recorded as a current liability. An estimated amount of variable consideration may differ from the actual amount. At each balance sheet date, these provisions are analyzed, and adjustments are made if necessary. Any adjustments made to these provisions would also affect net product revenue and earnings. In accordance with ASC 606, the Company must make significant judgments to determine the estimate for certain variable consideration. For example, the Company must estimate the percentage of end-users that will obtain the product through public insurance such as Medicaid or through private commercial insurance. To determine these estimates, the Company relies on historical sales data showing the amount of various end-user consumer types, inventory reports from the wholesale distributors and specialty pharmacy, and other relevant data reports. However, because Phexxi was launched in September 2020 this historical data is limited. Due to limits on historical data, the Company has used trend analysis, industry standard data, and professional judgment. The specific considerations that the Company uses in estimating these amounts related to variable consideration are as follows: Distribution services fees – The Company pays distribution service fees to its wholesale distributors and specialty pharmacy. These fees are a contractually fixed percentage of WAC and are calculated at the time of sale based on the purchase amount. The Company considers these fees to be separate from the customer’s purchase of the product, therefore, they are recorded in other current liabilities on the consolidated balance sheet. Prompt pay and other discount s – The Company incentivizes its customers to pay their invoices on time through prompt pay discounts. These discounts are an industry standard practice and the company offers a prompt pay discount to each wholesale distributor customer. The specific prompt pay terms vary by customer and are contractually fixed. Prompt pay discounts are typically taken by the Company’s customers, so an estimate of the discount is recorded at the time of sale based on the purchase amount. Prompt pay discount estimates are recorded as contra trade accounts receivable on the consolidated balance sheet. The Company may also give other discounts to its customers to incentivize purchases and promote customer loyalty. The terms of such discounts may vary by customer. These discounts reduce gross product revenue at the time the revenue is recorded. Chargebacks – Certain government entities and covered entities (e.g. Veterans Administration, 340B covered entities) will be able to purchase the product at a price discounted below WAC. The Company has finalized agreements with these types of entities. The difference between the government or covered entity purchase price and the wholesale distributor purchase price of WAC will be charged back to the Company. The Company estimates the amount of each chargeback channel based on the expected number of claims in each channel and related cost that is associated with the revenue being recognized for product that remains in the distribution channel at the end of each reporting period. Estimated chargebacks are recorded as contra trade accounts receivable on the consolidated balance sheet. Rebates – The Company will be subject to mandatory discount obligations under the Medicaid and Tricare programs. The Company is currently in the process of finalizing these agreements with Medicaid and Tricare. The rebate amounts for these programs are determined by statutory requirements or contractual arrangements. Rebates are owed after the product has been dispensed to an end user and the Company has been invoiced. Rebates for Medicaid and Tricare are typically invoiced in arrears. The Company estimates the amount in rebates based on the expected number of claims and related cost that is associated with the revenue being recognized for product that remains in the distribution channel at the end of each reporting period. Rebate estimates are recorded as other current liabilities on the consolidated balance sheet. Co-pay programs - The Company offers co-pay programs to commercially insured patients whose insurance requires a co-pay to be made when filling their prescription. This is a voluntary program that is intended to provide financial assistance to patients meeting certain eligibility requirements. The Company estimates the amount of co-pay programs based on the expected number of claims and related cost that is associated with the revenue being recognized for product that remains in the distribution channel at the end of each reporting period. Co-pay programs estimates are recorded as other current liabilities on the consolidated balance sheet. Product returns – Customers have the right to return product that is within six months or less of the labeled expiration date or that is past the expiration date by no more than six months. Phexxi was commercially launched in September 2020 and there were no returns as of December 31, 2020. Due to the lack of historical data, the Company used professional judgment to estimate returns based on industry data for similar products. As time passes and historical data becomes available, the Company will begin to use historical sales and return data to estimate future product returns. Certain wholesale distributors also have the ability to return product that is related to the initial stocking order for the Phexxi product launch. The specific terms for this type of product return vary by the specific wholesale distributor agreement. Product return estimates are recorded as other current liabilities on the consolidated balance sheet.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories At each balance sheet date, the Company evaluates ending inventories for excess quantities, obsolescence, or shelf-life expiration. The evaluation includes an analysis of the Company’s current and future strategic plans, anticipated future sales, the price projections of future demand, and the remaining shelf life of goods on han d. To the extent that management determines there are excess or obsolete inventory or quantities with a shelf life that is too near its expiration for the Company to reasonably expect that it can sell those products prior to their expiration, the Company adjusts the carrying value to estimated net realizable value in accordance with the first-in, first-out inventory costing method. The Company began to capitalize the inventory costs associated with Phexxi in April 2020 when it was determined that the inventory had a probable future economic benefit. These inventory costs include all purchased materials, direct labor and manufacturing overhead. Prior to April 2020, costs incurred for the manufacture of Phexxi were recorded as research and development expenses. Inventories consist of the following (in thousands) for the period indicated: December 31, 2020 Raw materials $ 332 Work in process (1) 4,162 Finished goods 2,668 Total $ 7,162 _____________________ (1) The work in process balance represents all production costs incurred for partially completed goods.

Convertible Notes

Convertible Notes	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Convertible Notes	Convertible Notes Baker Bros. Notes On April 23, 2020, the Company entered into a Securities Purchase and Security Agreement (the Baker Bros. Purchase Agreement) with certain affiliates of Baker Bros. Advisors LP, as purchasers (the Baker Purchasers), and Baker Bros. Advisors LP, as designated agent, pursuant to which the Company agreed to issue and sell to the Baker Purchasers (i) convertible senior secured promissory notes (the Baker Notes) in an aggregate principal amount of up to $25.0 million and (ii) warrants to purchase shares of common stock (the Baker Warrants) in a private placement. At the initial closing date of April 24, 2020 (the Baker Initial Closing), the Company issued and sold Baker Notes with an aggregate principal amount of $15.0 million (the Baker First Closing Notes) and Baker Warrants exercisable for 3,073,770 shares of common stock (the Baker First Closing Warrants). Following the Baker Initial Closing, the Baker Purchasers had an option to purchase from the Company up to $10.0 million of Baker Notes (the Baker Purchase Rights) at the Baker Purchasers’ discretion at any time prior to the Company receiving at least $100.0 million in aggregate gross proceeds from one or more sales of equity securities. On June 5, 2020 (the Exercise Date), the Baker Purchasers exercised the Baker Purchase Rights. At the second closing date of June 9, 2020, the Baker Purchasers acquired the remaining Baker Notes with an aggregate principal amount of $10.0 million (the Baker Second Closing Notes) and Baker Warrants exercisable for 2,049,180 shares of common stock (the Baker Second Closing Warrants). With the completion of the underwritten public offering in June 2020 as further discussed in Note 11- Stockholders' Equity , the conversion price of the Baker Notes and the exercise price of the Baker Warrants is $2.44. The Baker Warrants have a five The Baker Notes have a five The Baker Notes are convertible at any time at the option the Baker Purchasers at the aforementioned conversion price. The Baker Notes are callable by the Company on 10 days’ written notice beginning on the third anniversary of the Baker Initial Closing. The call price will equal 100% of the Baker Outstanding Balance plus accrued and unpaid interest if the Company’s common stock as measured using a 30-day volume weighted average price (VWAP) is greater than the benchmark price of $4.99 as stated in the Baker Bros. Purchase Agreement, or 110% of the Baker Outstanding Balance plus accrued and unpaid interest if the VWAP is less than such benchmark price. The Baker Purchasers also have the option to require the Company to repurchase all or any portion of the Baker Notes in cash upon the occurrence of certain events. In a repurchase event, as defined in the Baker Bros. Purchase Agreement, the repurchase price will equal 110% of the Baker Outstanding Balance plus accrued and unpaid interest. In an event of default or the Company’s change of control, the repurchase price will equal to the sum of (x) three times of the Baker Outstanding Balance plus (y) the aggregate value of future interest that would have accrued. Collectively, these options are the “Embedded Features” of the Baker Notes. The Company's stockholders approved the issuance of the shares issuable upon conversion of the Baker Notes and the exercise of the Baker Warrants in order to comply with Nasdaq Listing Rules 5635(b) and 5635(d) at its special meeting of stockholders held on June 18, 2020 (the Approval Date). The Company evaluated whether any of the Embedded Features required bifurcation as a separate component of equity. The Company elected the fair value option (FVO) under ASC 825, Financial Instruments , as the Baker Notes are qualified financial instruments and are, in whole, classified as liabilities. Under the FVO, the Company recognized the hybrid debt instrument at fair value inclusive of the Embedded Features. The Company also determined that the Baker Warrants and the Baker Purchase Rights were free standing financial instruments and were classified as liabilities at the time of issuance in accordance with ASC 480, Distinguishing Liabilities From Equity (ASC 480) due to the required stockholders’ approval noted above. Under the valuation methods as described in Note 7- Fair Value Financial Instruments , the Company recorded the following in the consolidated financial statements related to the Baker Notes and Baker Warrants during the quarter ended June 30, 2020: (i) an aggregate of $58.1 million in convertible notes and an aggregate of $46.7 million for warrants and purchase rights liability at the Baker Initial Closing and Exercise Date; (ii) a $64.0 million loss on issuance of financial instruments recognized at the Baker Initial Closing and Exercise Date in the consolidated statement of operations; (iii) an aggregate $34.1 million gain on fair value changes of financial instruments as a result of mark-to-market adjustments on the Baker Notes, Baker Warrants and Baker Purchase Rights recognized respectively at the Exercise Date, Approval Date and the quarter ended June 30, 2020, in the consolidated statement of operations; (iv) a $15.8 million reclassification from purchase rights liability to the convertible notes and warrants liability on the Exercise Date; and (v) an $11.0 million reclassification from warrants liability to additional paid-in capital in the consolidated balance sheet on the Approval Date. In addition, the Company concluded that there was no change in the underlying instrument-specific credit risk between the issuance dates for the Baker Notes and December 31, 2020, and, therefore there was no change recognized in the fair value of the convertible notes associated with differences in credit risk that would be presented separately as a component of other comprehensive income. Using the same valuation methods discussed in Note 7- Fair Value Financial Instruments , the Company recorded an aggregate $6.8 million loss on fair value changes of financial instruments as a result of mark-to-market adjustments recognized on the Baker Notes for the year ended December 31, 2020 in the consolidated financial statements. The Baker Notes contain various customary affirmative and negative covenants agreed to by the Company. The Company was in compliance with all applicable covenants at December 31, 2020. The Baker Notes also include customary events of default as set forth in the Baker Bros. Purchase Agreement, such that, in an event of default, the Baker Purchasers will have the right to accelerate repayment of the aggregate loan balance then outstanding. As of December 31, 2020, the Baker Notes are recorded in the consolidated balance sheet as short-term convertible notes payable with a total balance of $52.4 million. The balance is comprised of a $50.7 million fair value of the Baker Notes and $1.7 million in accrued interest. Adjuvant Notes On October 14, 2020, the Company entered into a Securities Purchase Agreement (the Adjuvant Purchase Agreement) with Adjuvant Global Health Technology Fund, L.P., and Adjuvant Global Health Technology Fund DE, L.P. (together, the Adjuvant Purchasers and each an Adjuvant Purchaser), pursuant to which the Company sold unsecured convertible promissory notes (the Adjuvant Notes) in aggregate principal amount of $25.0 million. The Adjuvant Notes have a five The Adjuvant Notes are convertible, subject to customary 4.99% and 19.99% beneficial ownership limitations, into shares of the Company’s common stock, par value $0.0001 per share, at any time at the option of the Adjuvant Purchasers at a conversion price of $3.65 per share. To the extent not previously prepaid or converted, the Notes will automatically convert into shares of the Company’s common stock at the Conversion Price immediately following the earliest of the time at which the (i) 30-day value-weighted average price of the Company’s common stock is $10.00 per share, or (ii) Company achieves cumulative net sales from the sales of Phexxi of $100,000,000, provided such net sales are achieved prior to July 1, 2022. The Adjuvant Notes contain various customary affirmative and negative covenants agreed to by the Company. The Company was in compliance with all applicable covenants at December 31, 2020. The Adjuvant Notes also include customary events of default as set forth in the Adjuvant Purchase Agreement, such that, in an event of default, the Adjuvant Purchasers will have the right to accelerate repayment of the aggregate loan balance then outstanding. The Adjuvant Notes are accounted for in accordance with authoritative guidance for convertible debt instruments. The $25.0 million in proceeds is considered to be restricted cash for financial reporting purposes due to contractual stipulations that

Balance Sheet Details

Balance Sheet Details	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Details	Balance Sheet Details Short-term Investments Short-term investments consist of held-to-maturity securities that will be due in one year or less. The following table illustrates the held-to-maturity securities’ amortized costs at purchase and the fair value for the period presented (in thousands). All of the short-term investments at December 31, 2019 have matured and there are no short-term investments as of December 31, 2020. December 31, 2019 Amortized Cost Basis Gross Unrealized Gains Fair Value Fixed income debt securities $ 8,233 $ 42 $ 8,275 Total held-to-maturity securities $ 8,233 $ 42 $ 8,275 Prepaid and Other Current Assets Prepaid and other current assets consist of the following (in thousands): Years Ended December 31, 2020 2019 Selling and marketing related costs $ 15,414 $ 491 Insurance 900 481 Prepaid overhead 382 — Clinical trial related costs 304 — Other receivables — 436 Flex note receivable (1) 250 250 Other 800 655 Total $ 18,050 $ 2,313 _______________________ (1) In June 2016, Private Evofem’s board of directors committed to a plan to sell its Softcup line of business (Softcup) and re-direct its available cash resources to further develop Phexxi. In July 2016, the Company entered into an Asset Purchase Agreement with The Flex Company (Flex), whereby Flex would acquire certain assets and assume certain liabilities associated with Softcup. Total consideration for the Softcup sale was $1.9 million, with $0.6 million received in cash at closing and the remaining $1.3 million due and payable under a note in favor of the Company (the Flex Note) through January 1, 2021 (the Flex Maturity Date). The Flex Note bears simple interest at a rate of 5.0% per annum on the remaining principal amount outstanding. An annual principal payment of approximately $0.3 million and the annual accrued and unpaid interest are payable each January 1, beginning in 2017 through the Flex Maturity Date. The note was paid off on January 4, 2021. The Flex Note is secured by the Softcup assets and has been recorded at fair value. The Company’s incremental borrowing rate and the stated interest rate of the Flex Note are materially consistent. Property and Equipment, Net Property and equipment, net, consists of the following (in thousands): Years Ended December 31, Useful Life 2020 2019 Research equipment 5 years $ 623 $ 608 Computer equipment and software 3 years 444 13 Office furniture 5 years 629 205 Leasehold improvements 5 years or less 1,540 340 Construction in-process — 2,249 77 5,485 1,243 Less: accumulated depreciation (1,151) (849) Total, net $ 4,334 $ 394 Depreciation expense was approximately $0.3 million for both the years ended December 31, 2020 and 2019. Other Noncurrent Assets Other noncurrent assets consist of the following (in thousands): Years Ended December 31, 2020 2019 Restricted cash included in noncurrent assets $ 800 $ 750 Prepaid directors & officers' insurance 214 320 Flex note receivable, net of current portion — 250 Other 34 — Total $ 1,048 $ 1,320 Accrued Expenses Accrued expenses consist of the following (in thousands): Years Ended December 31, 2020 2019 Clinical studies $ 1,417 $ 585 Marketing and public relations 564 — Legal and other professional fees 1,631 1,652 Manufacturing related costs 498 — Other 366 547 Total $ 4,476 $ 2,784

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair values of the Company’s assets, including the money market funds, investments in marketable fixed income debt securities classified as cash and cash equivalents, restricted cash, investments in marketable fixed income debt securities classified as held-to-maturity, Flex Note receivable, and the Baker Notes, measured on a recurring basis are summarized in the following tables, as applicable (in thousands): December 31, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Money market funds (1) $ 53,485 $ 53,485 $ — $ — Fixed income debt securities classified as cash and cash equivalents 16,498 16,498 — — Flex note receivable 250 — 250 — Total assets $ 70,233 $ 69,983 $ 250 $ — Convertible notes payable (2) $ 50,752 $ — $ — $ 50,752 Total liabilities $ 50,752 $ — $ — $ 50,752 (1) Included as a component of cash and cash equivalents on the accompanying consolidated balance sheet. (2) The convertible notes payable as of December 31, 2020 on the accompanying consolidated balance sheet also includes approximately $1.7 million accrued interest on the Baker Notes. December 31, 2019 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Money market funds (1) $ 7,064 $ 7,064 $ — $ — Fixed income debt securities classified as cash and cash equivalents 6,749 — 6,749 — Fixed income debt securities classified as short-term investments 8,275 — 8,275 — Flex note receivable 500 — 500 — Total assets $ 22,588 $ 7,064 $ 15,524 $ — _______________________ (1) Included as a component of cash and cash equivalents on the accompanying consolidated balance sheet. The Baker Warrants and the Baker Purchase Rights, and the Private Placement First Closing Warrants and the Private Placement Purchase Rights as discussed in Note 5- Convertible Notes and Note 10- 2019 Private Placement , respectively, were determined to be classified as liabilities. Therefore, they were stated at fair value at issuance and subject to mark-to-market adjustment at each reporting date until a subsequent event occurs that would change their classification. They were considered Level 3 instruments because the fair value measurement was based, in part, on significant inputs not observed in the market. The following tables summarize the changes in Level 3 financial liabilities measured at fair value on a recurring basis for the year ended December 31, 2020 and 2019 (in thousands). Baker First Closing Notes Baker Second Closing Notes Total Balance at December 31, 2019 $ — $ — $ — Initial liability at issuance 37,405 20,715 58,120 Change in fair value (6,954) (414) (7,368) Balance at December 31, 2020 (1) $ 30,451 $ 20,301 $ 50,752 _____________________ (1) The convertible notes payable as of December 31, 2020 on the accompanying consolidated balance sheet also includes approximately $1.7 million accrued interest on the Baker Notes. Baker First Closing Warrants Baker Purchase Rights Baker Second Closing Warrants Total Balance at December 31, 2019 $ — $ — $ — $ — Initial liability at issuance 14,007 27,636 5,098 46,741 Change in fair value (7,408) (11,823) (682) (19,913) Reclassification from liability to equity (6,599) — (4,416) (11,015) Exercise of Baker Purchase Rights for convertible notes — (10,715) — (10,715) Exercise of Baker Purchase Rights for warrants — (5,098) — (5,098) Balance at December 31, 2020 $ — $ — $ — $ — Private Placement Warrants Private Placement Balance at December 31, 2018 $ — $ — Initial liability at issuance 3,611 3,183 Change in fair value 3,315 19,617 Reclassification from liability to equity (6,926) (22,800) Balance at December 31, 2019 $ — $ — Baker Notes The fair value of the Baker Notes issued as described in Note 5- Convertible Notes , and subsequent changes in fair value recorded at the December 31, 2020 reporting date, were determined using a Monte Carlo simulation-based model. Monte Carlo simulation was used to take into account the Embedded Features, and assumptions, including the future value of the Company's common stock, a potential change of control event, the maturity term of the Baker Notes, the probability of an event of voluntary conversion of the Baker Notes, exercise of the put right, and exercise of the Company's call right. Baker Warrants and Private Placement Warrants The fair value of the Baker Warrants issued during the second quarter of 2020 as described in Note 5- Convertible Notes , and the fair value of the Private Placement First Closing Warrants issued during the second quarter of 2019 as described in Note 10- 2019 Private Placement , and the respective changes in fair value of these warrants as a result of mark-to-market adjustments, were determined using the Black-Scholes option pricing model based on the following weighted-average assumptions for the periods indicated. Years Ended December 31, 2020 2019 Expected volatility 93.7 % 75.0 % Risk-free interest rate 0.4 % 2.2 % Expected dividend yield — % — % Expected term (years) 4.9 6.9 Baker Purchase Rights and Private Placement Purchase Rights The fair value of the Baker Purchase Rights, and the subsequent change in fair value of these rights upon exercise of such rights, was determined as the maximum of (i) the fair value of rights to purchase the additional $10 million Baker Notes and (ii) the fair value of the shares of on as-if converted basis, which was determined by the lattice model. The fair value of rights to purchase an additional 2,049,180 Baker Warrants was valued using a Geske model. The Geske model was based on the applicable assumptions, including the underlying stock price, warrant exercise price, the exercise price of the rights to purchase the Baker Warrants, the term of the Baker Warrants, the term of the rights to purchase the Baker Warrants, the expected volatility of the Company’s peer group, risk-free interest rate and expected dividend. The fair value of the Private Placement Purchase Rights issued in connection with the 2019 Private Placement, as described in Note 10- 2019 Private Placement , and the change in fair value of the Private Placement Purchase Rights as a result of the mark-to-market adjustments upon stockholder approval of the 2019 Private Placement, was determined using a combination of a lattice model and a Black-Scholes option-pricing model. The lattice model was used to determine a range of future value of the Company's common stock. The Black-Scholes option-pricing model was based on the applicable assumptions, including the future value of the Company's common stock as determined by the lattice model, warrant exercise price, time to expiration, expected volatility of our peer group, risk-free interest rate and expected dividend.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases Fleet Lease In December 2019, the Company and Enterprise FM Trust (the Lessor) entered into a Master Equity Lease Agreement whereby the Company leases vehicles to be delivered by the Lessor from time to time with various monthly costs depending on the vehicles delivered for a term of 24 or 36 months, commencing on each corresponding delivery date. The leased vehicles are for use by eligible employees of the Company's commercial operations personnel. There was a total of 76 vehicles delivered during the year ended December 31, 2020. The Company maintains a letter of credit as collateral in favor of the Lessor, which was included in restricted cash in the consolidated balance sheet. This letter of credit was $0.3 million as of December 31, 2020. There was no such amount as of December 31, 2019. The Company determined that the leased vehicles are accounted for as operating leases under ASC 842. 2020 Lease and the First Amendment On October 3, 2019, the Company entered into an office lease for approximately 24,474 square feet (Existing Premises) pursuant to a non-cancelable lease agreement (the 2020 Lease). The 2020 Lease commenced on April 1, 2020 and will expire on September 30, 2025, unless terminated earlier in accordance with its terms. The Company has a right to extend the term of the lease for an additional five years and does not anticipate exercising such extension. The Company provided the landlord with a $750,000 security deposit in the form of a letter of credit for the Existing Premises. On April 14, 2020, the Company entered into the first amendment to the 2020 Lease for an additional 8,816 rentable square feet of the same office location (Expansion Premises), which commenced on September 1, 2020 and will expire on September 30, 2025. The Company provided an additional $50,000 in a letter of credit for the Expansion Premises. As of December 31, 2020 and 2019, restricted cash maintained as collateral for the Company’s security deposit was $0.8 million. 2015 Lease Effective January 30, 2015, Private Evofem entered into a sublease for office space under a noncancelable lease agreement that expired in March 2020 (the 2015 Lease), which is the Company's primary office space. The sublease provided for two renewal periods of five Leased Space In August 2017, the Company entered into a manufacturing and supply agreement with an outside supplier for a term of one year from August 2017. This agreement was further renewed by both parties to cover the period from August 2018 to September 2019. Under the agreement, the supplier provides a dedicated packaging space for the Company at a fixed monthly cost. The Company determined that this dedicated space is accounted for as an operating lease under ASC 842 . The lease for this space expired in September 2019. Year Ended December 31, Lease Cost (in thousands) Classification 2020 2019 Operating lease expense Research and development $ 413 $ 307 Operating lease expense Selling and marketing 568 115 Operating lease expense General and administrative 625 315 Total $ 1,606 $ 737 Lease Term and Discount Rate December 31, 2020 December 31, 2019 Weighted Average Remaining Lease Term (in years) 4.43 0.25 Weighted Average Discount Rate 12 % 12 % Maturity of Operating Lease Liabilities (in thousands) Year Ended December 31 2021 $ 2,450 2022 2,515 2023 2,171 2024 2,192 2025 1,502 Total lease payments 10,830 Less: imputed interest (2,510) Total $ 8,320 Other information (in thousands) Year Ended Year Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows in operating leases $ 1,185 $ 834 Other Contractual Commitments In November 2019, the Company entered into a supply and manufacturing agreement with a third-party to manufacture Phexxi and potentially other product candidates in accordance with all applicable current good manufacturing practice regulations, pursuant to which the Company has certain minimum purchase commitments based on the forecasted product sales. Contingencies From time to time the Company may be involved in various lawsuits, legal proceedings or claims that arise in the ordinary course of business. There were no claims or actions pending against the Company as of December 31, 2020 and 2019, which management believes would have, individually or in the aggregate, a material adverse effect on its business, liquidity, financial position, results of operations or cash flows. However, litigation is subject to inherent uncertainties and an adverse result in any matter that may arise from time to time could harm the Company’s business. Intellectual Property Rights In 2014, Private Evofem entered into an amended and restated license agreement (the Rush License Agreement) with Rush University Medical Center (Rush University) pursuant to which Rush University granted Private Evofem an exclusive, worldwide license of certain patents and know-how related to its multipurpose vaginal pH modulator technology authorizing Private Evofem to make, distribute and commercialize products and processes for any and all therapeutic, prophylactic and/or diagnostic uses, including, without limitation, use for female vaginal health and/or birth control. Pursuant to the Rush License Agreement, the Company is obligated to pay to Rush University an earned royalty based upon a percentage of net sales in the range of mid-single digits. In September 2020, the Company entered the first amendment to the Rush License Agreement, pursuant to which the Company is also obligated to pay a minimum annual royalty amount of $100,000 to the extent the earned royalties do not equal or exceed $100,000 commencing January 1, 2021. Such royalty payments were immaterial for the year ended December 31, 2020. In October 2015, the Company entered into separate sublicense agreements (the Sublicenses) with WomanCare Global Trading CIC (WCGCIC) for a contraceptive vaginal ring for aggregate consideration of (i) payments or potential payments to WCGCIC of (a) an upfront payment of $10.0 million, (b) potential regulatory and commercial milestone payments up to $32.0 million, (c) potential royalty payments on net product sales and (d) potential royalty payments on net sales of an equivalent generic product and (ii) $5.0 million in annual sublicense fees through October 1, 2019 to WCGCIC. During the first quarter of 2019, the Sublicenses were reassigned to Woman Care Global Cares (WCG Cares), upon which, the unpaid sublicense fees ceased accruing interest and all accrued sublicense fees and interest expense of $1.3 million were transferred and became payable to WCG Cares. During the year ended December 31, 2019, the Company and WCG Cares entered into a settlement agreement, whereby the Company paid $1.0 million to WCG Cares to settle the entire outstanding balance. The Company recorded the difference of $0.3 million as a concession recorded within other income (expense) in its consolidated statement of operations during the third quarter of 2019. See Note 9- Related-party Transactions for a summary of the Company’s transactions with WCGCIC, WomanCare Global International, a non-profit organization registered in England and Wales (WCGI) and related entities, and WCG Cares.

Related-party Transactions

Related-party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related-party Transactions	Related-party Transactions Consulting Agreements Effective April 1, 2017, the Company entered into a two Effective April 1, 2019, the Company entered into a new two Consulting fees incurred under the 2017 and 2019 Consulting Agreements were approximately $0.1 million and $0.6 million for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020 and December 31, 2019, excluding board fees, there was no accrued compensation owed to Mr. Lynch. Transactions with WCGI and Related Entities From 2009 to 2016, Ms. Saundra Pelletier was the founding CEO of WCGI. In February 2013, Private Evofem and WCGI formed an alliance (the WCGI Alliance) and Ms. Pelletier also became Private Evofem’s CEO. Concurrent with the forming of the WCGI Alliance, Private Evofem and WCGI entered into a (i) service agreement to which the companies shared resources and employees and (ii) three From 2011 to 2017, Ms. Pelletier served as a director of the board of WomanCare Global Trading, Inc., a WCGI subsidiary. As described in Note 8- Commitments and Contingencies , in October 2015, Private Evofem, through its wholly-owned subsidiaries, entered into two sublicense agreements whereby Private Evofem was responsible for paying $5.0 million in annual sublicense fees, net of amounts paid under the grant agreement during 2015, to WCGCIC, also a WCGI affiliate. Effective January 2016, Private Evofem and WCGI entered into a shared-services agreement (the SSA), which replaced the prior service agreement. Under the terms of the SSA, Private Evofem and WCGI cross charged the other company’s services provided by each entity on behalf of the other. The SSA also allowed for netting of due to and due from shared-services fees. In July 2019, the SSA was terminated. Services provided under the SSA on behalf of WCGI were immaterial for the year ended December 31, 2019. The amounts of receivables and payables related to the Company’s transactions with WCGI related entities as of December 31, 2019 and for the year ended December 31, 2019 were immaterial. All accrued sublicense fees and interest expense related to the Sublicenses as of December 31, 2018 became payable to WCG Cares during the first quarter of 2019. Transactions with WCG Cares In 2013, WCG Cares, a 501(c)(3) nonprofit organization, was incorporated under the laws of the State of California. Its primary purpose is to directly engage in and/or fund the development and implementation of programs that promote reproductive health, education, research and increased access to high-quality, innovative and affordable reproductive health care and health care products around the world. Ms. Pelletier served as the CEO and President of WCG Cares from 2013 to November 2017. She was a member of its board from November 2017 to March 1, 2020, and also served as chair of its board of directors from November 2017 to May 2018. Additionally, Mr. Justin J. File served as WCG Cares' Chief Financial Officer from November 2017 to May 2018. Dr. Kelly Culwell served as WCG Cares' Chief Medical Officer from November 2017 to December 2018. Dr. Culwell was also appointed to its board of directors in January 2019 with a term of three years until December 31, 2021. In March 2018, the Company and WCG Cares entered into a shared-services agreement (the Cares Shared Services Agreement). Under the terms of the Cares Shared Services Agreement, the Company and WCG Cares cross charged services provided by each entity (or their subsidiaries) on behalf of the other. The Cares Shared Services Agreement also allowed for netting of due to and due from shared-services fees. In July 2019, the Company provided a notice of termination to WCG Cares to terminate the Cares Shared Services Agreement effective September 2019. There were no services provided under the Cares Shared Services Agreement on behalf of WCG Cares for the year ended December 31, 2020, and there were no net shared-services due to the Company as of December 31, 2020. Services provided under the Cares Shared Services Agreement on behalf of WCG Cares were immaterial for the year ended December 31, 2019 and the net shared-services due to the Company were immaterial as of December 31, 2019. Variable Interest Entity Considerations Due to shared management and numerous agreements between the Company and WCGI and the Company and WCG Cares, management reviewed its relationship with both WCGI and its subsidiaries and WCG Cares in accordance with the authoritative guidance for variable interest entities within ASC 810 - Consolidation . The Company concluded that due to WCGI’s and WCG Cares’ status as not-for-profit entities, the scope exception from qualifying as a variable interest entity was met and, therefore, the Company is not required to consolidate WCGI or WCG Cares.

2019 Private Placement

2019 Private Placement	12 Months Ended
	Dec. 31, 2020
Private Placement [Abstract]
2019 Private Placement	2019 Private Placement On April 10, 2019, the Company entered into a Securities Purchase Agreement with PDL BioPharma, Inc., a Delaware corporation (PDL), funds discretionally managed by Invesco Ltd. (Invesco) and funds managed by Woodford Investment Management Ltd. (WIM, collectively with Invesco and PDL, the 2019 Purchasers), providing for the issuance and sale to the 2019 Purchasers of an aggregate of up to $80 million of the Company’s common stock, par value $0.0001 per share at a purchase price of $4.50 per share, and warrants to purchase shares of common stock with an exercise price of $6.38 per share in a private placement (the Private Placement) to be funded in up to two separate closings. The first closing was completed on April 11, 2019 (the Private Placement First Closing), pursuant to which the Company (i) issued and sold to PDL 6,666,667 shares of its common stock and warrants to purchase up to 1,666,667 shares of common stock (the Private Placement First Closing Warrants) and (ii) provided to the Purchasers an option, but not an obligation, from the Company to issue and sell to each 2019 Purchaser the shares of common stock and warrants as specified in the aforementioned Securities Purchase Agreement during the period beginning on April 11, 2019 and ending on June 10, 2019 (the Private Placement Purchase Rights). The total consideration for the Private Placement First Closing was $30 million. The second closing was completed on June 10, 2019 (the Private Placement Second Closing), pursuant to which the Company issued and sold to PDL, Invesco and WIM (i) 6,666,667, 2,222,222 and 2,222,223 shares of its common stock, respectively and (ii) warrants to purchase up to 1,666,667, 555,556 and 555,556 shares of common stock (the Private Placement Second Closing Warrants), respectively, for an aggregate purchase price of $50 million. Shares of common stock issued to WIM included one voting share issued in connection with the issuance of its warrants. The Company’s stockholders approved the Private Placement at its 2019 Annual Meeting of Stockholders held on June 5, 2019 (the Private Placement Approval Date). The warrants have 7-year term and will become exercisable at any time on or after the date that is six The Private Placement Second Closing Warrants were determined to be free standing financial instruments and equity classified in accordance with ASC 815. The Company utilized the Black Scholes option-pricing model to calculate the fair value of warrants at issuance and recorded an estimated fair value of $12.7 million as additional paid-in capital in the consolidated balance sheet. The Company also determined the Private Placement Purchase Rights were free standing financial instruments and liability classified in accordance with ASC 480 due to the stockholder approval provision noted above. As described in Note 7- Fair Value Financial Instruments , the Company utilized a combination of a lattice model and a Black-Scholes option-pricing model to calculate the fair value of the Private Placement Purchase Rights at issuance and on the Private Placement Approval Date. The Company recorded the following in the consolidated financial statements during the second quarter of 2019: (i) $3.2 million purchase rights liability at issuance for the purchase rights provided to PDL; (ii) $0.7 million loss on issuance of purchase rights at issuance in the consolidated statement of operations for the purchase rights provided to Invesco and WIM; (iii) $19.6 million change in fair value of purchase rights in the consolidated statement of operations as a result of mark-to-market adjustments on the Private Placement Approval Date; and (iv) $22.8 million reclassification from purchase rights liability to additional paid-in capital in the consolidated balance sheet on the Private Placement Approval Date. Upon completion of the Private Placement First Closing and Private Placement Second Closing, the Company received proceeds of approximately $28.2 million and $47.2 million, net of $1.8 million and $2.8 million in advisory fees to financial advisors, respectively, and used these proceeds for clinical research and development purposes, including resubmission of the New Drug Application for Phexxi to the FDA, commercialization activities, and for general corporate purposes. Additionally, upon completion of the Private Placement Second Closing, the previously issued WIM Warrants (defined below) and Reload Warrants (defined below) to purchase up to 475,000 shares and 1,188,029 shares of common stock, respectively, were canceled. See Note 11- Stockholders' Equity

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity Warrants On February 5, 2019, the Company entered into letter agreements (the Repricing Letter Agreements) with WIM and certain other holders of outstanding warrants to purchase common stock of the Company by exercising certain outstanding warrants. Upon execution of the Repricing Letter Agreements, investment funds affiliated with WIM exercised certain warrants received upon the completion of the Merger (WIM Warrants) to purchase an aggregate of 1,525,000 shares of common stock, and WIM and other holders of common warrants issued in the public offering in May 2018 (Public Offering Warrants) exercised their common warrants to purchase an aggregate of 851,062 shares of common stock at a reduced exercise price of $2.64 per share. The Company received gross proceeds of approximately $6.3 million from these exercises in 2019. The Company determined that the incremental fair value as a result of the modification to these warrants from the change of the exercise price was approximately $1.4 million and $0.5 million for the WIM Warrants and Public Offering Warrants, respectively, which were recorded as a change in fair value of warrants in the consolidated statement of operations for the year ended December 31, 2019. In addition, on February 8, 2019 and per the terms of the Repricing Letter Agreements, the Company issued warrants to purchase up to 1,188,029 shares of the Company’s common stock (Reload Warrants) to the holders' party to the Repricing Letter Agreements, at an exercise price of $5.20 per share. The Company determined the Reload Warrants are free standing financial instruments and equity classified in accordance with ASC 480. Since the Reload Warrants were issued in addition to the reduced exercise price to induce the holders of WIM Warrants and common warrants to exercise their warrants, the Company determined the fair value of the Reload Warrants was also the incremental fair value as a result of the modification to the WIM warrants and common warrants exercised. To determine the fair value of the Reload Warrants, the Company utilized the Black-Scholes option-pricing model, which resulted in an estimated fair value of the Reload Warrants of $2.5 million, which was recorded as additional paid-in capital in the consolidated balance sheet and change in fair value of warrants in the consolidated statement of operations for the year ended December 31, 2019. On June 10, 2019, upon the Second Closing of the Private Placement as discussed in Note 10- 2019 Private Placement , the remaining WIM Warrants to purchase up to 475,000 shares of common stock and all Reload Warrants were cancelled. Warrants to purchase an aggregate of 4,444,446 shares of common stock were issued in connection with the Private Placement at an exercise price of $6.38 per share in April and June 2019. In April and June 2020, pursuant to the Securities Purchase Agreement as discussed in Note 5- Convertible Notes , the Company issued warrants to purchase up to 5,122,950 shares of common stock in a private placement at an exercise price of $2.44 per share. As of December 31, 2020, warrants to purchase up to 10,426,107 shares of the Company's common stock remain outstanding at a weighted average exercise price of $4.54 per share. These warrants are summarized below: Type of Warrants Underlying Common Stock to be Purchased Exercise Price Issue Date Exercise Period Common Warrants 878 $ 51.24 March 30, 2012 March 30, 2012 to March 30, 2022 Common Warrants 1,171 $ 51.24 August 17, 2012 August 17, 2012 to July 17, 2022 Common Warrants 7,806 $ 3.69 June 11, 2014 June 11, 2014 to June 11, 2024 Common Warrants 848,674 $ 7.50 May 24, 2018 May 24, 2018 to May 24 2025 Common Warrants 182 $ 7.50 June 26, 2018 June 26, 2018 to June 26, 2025 Common Warrants 1,666,667 $ 6.38 April 11, 2019 October 11, 2019 to April 11, 2026 Common Warrants 2,777,779 $ 6.38 June 10, 2019 December 10, 2019 to June 10, 2026 Common Warrants 3,073,770 $ 2.44 April 24, 2020 April 24, 2020 to April 24, 2025 Common Warrants 2,049,180 $ 2.44 June 9, 2020 June 9, 2020 to June 9, 2025 Total 10,426,107 Common Stock Effective January 17, 2018 and in connection with the Merger, the Company amended and restated its certificate of incorporation, under which the Company is currently authorized to issue up to 300,000,000 shares of common stock, $0.0001 par value per share, and 5,000,000 shares of preferred stock, $0.0001 par value per share. On June 5, 2020, the Company completed an underwritten public offering (the Public Offering), whereby the Company issued 28,500,000 shares of common stock at a price to the public of $3.50 per share (the Public Offering Price). The Company received proceeds from the Public Offering of $93.2 million, net of underwriting discounts. In addition, the Company granted the underwriters a 30-day option to purchase up to an additional 4,275,000 shares of its common stock at the Public Offering Price, less applicable underwriting discounts. The common stock issued in the Public Offering were registered pursuant to a shelf registration statement on Form S-3 filed with the SEC on November 18, 2019 and declared effective on December 2, 2019. On June 10, 2020, the Company issued an additional 3,200,000 shares of common stock upon exercise of the underwriters’ overallotment option and received proceeds from the exercise of $10.5 million, net of underwriting discounts. ATM Program In November 2019, the Company entered into an Equity Distribution Agreement (the Equity Distribution Agreement) with Piper Sandler & Co. (Piper Sandler), which provided the Company the ability to offer and sell shares of its common stock in ATM offerings (as defined in Rule 415 of the Securities Act of 1933, as amended) having an aggregate offering price up to $50 million from time to time through Piper Sandler acting as sales agent. On June 2, 2020, in connection with the Public Offering discussed in Note 11- Stockholders’ Equity , the Equity Distribution Agreement was terminated. During the year ended December 31, 2020, the Company received proceeds of approximately $3.8 million in cash and cash equivalents (including $0.3 million that was included in other receivables in the consolidated balance sheet at December 31, 2019), net of commissions, from the sale of 676,656 shares of its common stock. Short-swing Profit Disgorgement During the year ended December 31, 2020, the Company received an aggregate of $0.2 million in cash from short-swing profit disgorgement, which is included as an increase to additional paid-in capital in the consolidated statement of stockholders’ equity and as a financing activity in the consolidated statement of cash flows. Common Stock Reserved for Future Issuance Common stock reserved for future issuance is as follows in common equivalent shares as of December 31, 2020: Common stock issuable upon the exercise of stock options outstanding 8,935,801 Common stock issuable upon the exercise of common stock warrants 10,426,107 Common stock available for future issuance under the 2019 ESPP 1,293,721 Common stock available for future issuance under the Amended and Restated 2014 Plan 1,735,573 Common stock available for future issuance under the Amended Inducement Plan 527,175 Total common stock reserved for future issuance 22,918,377 On March 24, 2020, the Company entered into a rights agreement (the Rights Agreement) with Philadelphia Stock Transfer, Inc., as rights agent. In connection with the adoption of the Rights Agreement and pursuant to its terms, the Company’s board of directors authorized and declared a dividend of one right (each, a Right) for each outstanding share of the Company’s common stock to stockholders of record at the close of business on April 8, 2020 (the Record Date), and authorized the issuance of one Right for each share of common stock issued by the Company (except as otherwise provided in the Rights Agreement) between the Record Date and the Distribution Date (as defined below). Each Right entitles stockholders to purchase from the Company, when exercisable and subject to adjustment, one one-thousandth of a share of Series A Preferred Stock at a purchase price of $17.50 per Unit (the Purchase Price). The Rights generally become exercisable (the Distribution Date) upon the earlier of (i) 10 business days following a public announcement that a person or group of affiliated or associated persons (an Acquiring Person) has acquired or otherwise obtained beneficial ownership of 32% or more of the then‑outstanding shares of common stock of the Company, and (ii) 10 business days (or such later date as may be determined by the board of directors of the Company) following the commencement of a tender offer or exchange offer that would result in a person or group becoming an Acquiring Person. If a person becomes an Acquiring Person, then each holder of a Right will thereafter have the right to receive, upon exercise, Units of Preferred Stock or, at the option of the Company, shares of common stock (or, in certain circumstances, cash, property or other securities of the Company) having a value equal to two times the Purchase Price of the Right. If the Company is acquired in a merger or similar business combination transaction at any time after a person has become an Acquiring Person, each holder of a right (other than the Acquiring Person and certain related parties) will be entitled to purchase a similar amount of common stock of the acquiring entity.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Equity Incentive Plans The following table summarizes stock-based compensation expense related to stock options, restricted stock awards (RSAs) and RSUs granted to employees, non-employee directors and consultants, and Employee Stock Purchase Plan included in the consolidated statements of operations as follows (in thousands): Years Ended December 31, 2020 2019 Research and development $ 1,922 $ 1,131 Selling and marketing 2,388 1,372 General and administrative 8,387 6,076 Total $ 12,697 $ 8,579 In September 2012, Private Evofem adopted the 2012 Equity Incentive Plan (the 2012 Plan) that provides for the issuance of RSAs, RSUs, or non-qualified and incentive common stock options to its employees, non-employee directors and consultants, from its authorized shares. In general, the options expire ten four three On September 15, 2014, Neothetics’ board of directors adopted, and stockholders approved, the 2014 Equity Incentive Plan (the 2014 Plan), which was amended and restated on each of May 2018 and February 26, 2019 (the Amended and Restated 2014 Plan), which among other things, increased the number of authorized shares under the 2014 Plan from 749,305 to an aggregate of 7,800,000 shares. On February 25, 2020, the Company’s board of directors approved, subject to stockholder approval, and recommended its stockholders approve at the 2020 Annual Meeting, an additional 2,000,000 authorized shares reserved for issuance under the Amended and Restated 2014 Plan to an aggregate of 11,725,515 shares, including the Evergreen Shares discussed below. Such stockholder approval was obtained on May 12, 2020. Per the terms of the Amended and Restated 2014 Plan, the shares reserved will automatically increase on each January 1 through 2024, by an amount equal to the smaller of (i) 4% of the number of shares of common stock issued and outstanding on the immediately preceding December 31; or (ii) an amount determined by our board of directors. This provision resulted in an additional 3,254,061 shares (Evergreen Shares) added to the total number of authorized shares on January 1, 2021. On July 24, 2018, upon the recommendation by the Compensation Committee, the Company's board of directors adopted the Evofem Biosciences, Inc. 2018 Inducement Equity Incentive Plan (the Inducement Plan), pursuant to which the Company reserved 250,000 shares for the issuance of equity awards under the Inducement Plan. The Inducement Plan was amended effective February 25, 2020 (the Amended Inducement Plan), which increased the number of authorized shares to an aggregate of 1,250,000 shares. The only persons eligible to receive awards under the Inducement Plan are individuals who satisfy the standards for inducement grant recipients under Nasdaq Marketplace Rule 5635(c)(4), generally, a person not previously an employee or director of the Company, or following a bona fide period of non-employment, as an inducement material to the individual’s entering into employment with the Company. Stock Options The following table summarizes share option activity for the year ended December 31, 2020: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2019 6,419,383 $ 6.68 8.44 8,336 Granted 2,955,185 $ 4.58 Exercised (21,652) $ 3.83 Forfeited (417,115) $ 4.83 Outstanding as of December 31, 2020 8,935,801 $ 6.08 7.76 $ 338 Options vested and expected to vest as of December 31, 2020 8,935,801 $ 6.08 7.76 $ 338 Options exercisable as of December 31, 2020 5,639,525 $ 7.10 7.04 $ 273 The following table summarizes certain information regarding stock options for the years ended December 31, 2020 and 2019 (in thousands, except per share data): 2020 2019 Weighted average grant date fair value per share of options granted during the period $ 3.20 $ 3.50 Fair value per share of options vested during the period $ 3.51 $ 3.94 Cash received from options exercised during the period $ 83 $ 95 Intrinsic value of options exercised during the period $ 47 $ 133 The Company recognized $6.0 million and $5.6 million stock-based compensation expense related to stock options for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020, unrecognized stock-based compensation expense for employees and non-employee stock options was approximately $9.4 million, which the Company expects to recognize over a weighted-average remaining period of 2.2 years, assuming all unvested options become fully vested. Summary of Assumptions The fair value of noncash stock-based compensation for stock options granted to employees and non-employees was estimated on the date of grant using the Black-Scholes option pricing model based on the following weighted-average assumptions for options granted for the periods indicated. Years Ended December 31, 2020 2019 Expected volatility 82.7 % 76.3 % Risk-free interest rate 0.6 % 1.8 % Expected dividend yield — % — % Expected term (years) 6.0 5.9 Expected volatility. The expected volatility assumption is based on volatilities of a peer group of similar companies whose share prices are publicly available. The peer group was developed based on companies in the biotechnology industry. Risk-free interest rate. The risk-free interest rate assumption is based on observed interest rates appropriate for the expected term of the stock option grants. Expected dividend yield. The expected dividend yield assumption is based on the fact that the Company has never paid cash dividends and has no present intention to pay cash dividends. Expected term. The expected term represents the period options are expected to be outstanding. Because the Company does not have historical exercise behavior, it determines the expected term assumption using the practical expedient as provided for under ASC 718, which is the midpoint between the requisite service period and the contractual term of the option. Restricted Stock Awards and Units The following table summarizes RSAs and RSUs activity for the year ended December 31, 2020: Shares (RSAs) Weighted Average Fair Value per Share Shares (RSUs) Weighted Average Fair Value per Share Unvested as of December 31, 2019 110,000 $ 4.91 81,667 $ 3.87 Granted 1,275,000 $ 4.86 150,000 $ 5.16 Canceled — $ — (150,000) $ 5.16 Released (1,305,000) $ 4.87 (81,667) $ 3.72 Unvested as of December 31, 2020 80,000 $ 4.78 — $ — There were 1,275,000 shares and 641,000 shares of RSAs granted under the Amended and Restated 2014 Plan and the Inducement Plan during the years ended December 31, 2020 and 2019, respectively, to its executive management team, certain non-executive employees and consultants. Of the total RSAs granted during the years ended December 31, 2020 and 2019, 1,245,000 and 460,500 shares vested in accordance with the Company’s achievement of the Performance-based RSAs milestones, respectively. For the Performance-based RSAs, (i) the fair value of the award was determined on the grant date, (ii) the Company assessed the probability of achieving each individual milestone associated with the award using reasonable assumptions based on the Company's operation performance towards each milestone and (iii) the fair value of the shares subject to the milestone is expensed over the implicit service period commencing once management believes the performance criteria is probable of being met. The non-performance based RSAs and RSUs were valued at the fair value on the grant date and the associated expenses will be recognized over the vesting period. The Company recognized $6.5 million and $2.9 million stock-based compensation expense related to RSAs and RSUs for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020, unrecognized stock-based compensation expense related to the unvested RSAs and RSUs was approximately $0.2 million, which the Company expects to recognize over a weighted-average remaining period of 0.9 years. Employee Stock Purchase Plan In November 2014, Neothetics adopted the 2014 Employee Stock Purchase Plan (the 2014 ESPP), which initially authorized the issuance of 28,333 shares of common stock pursuant to purchase rights granted to employees, and an additional 258,672 evergreen shares were added to the total shares authorized on January 1, 2019. On May 7, 2019, the board of directors terminated the 2014 ESPP and approved a new 2019 Employee Stock Purchase Plan (the 2019 ESPP), which was approved by stockholders at the 2019 annual meeting held on June 5, 2019. During the year ended December 31, 2019, there were no shares of common stock purchased under the 2014 ESPP. The 2019 ESPP initially authorized the issuance of 500,000 shares of common stock pursuant to purchase rights granted to employees. In addition, the number of shares available for issuance under the 2019 ESPP will increase on January 1 of each year in an amount equal to the lesser of (i) 1,000,000 shares, (ii) 2% of the shares of common stock outstanding on December 31, or (iii) such lesser number of shares as is determined by the board of directors. This provision resulted in an additional 1,000,000 shares added to the total number of authorized shares on January 1, 2021. The 2019 ESPP is intended to qualify as an employee stock purchase plan within the meaning of Section 423 of the Internal Revenue Code of 1986, as amended. The 2019 ESPP enables eligible full-time and part-time employees to purchase shares of the Company’s common stock through payroll deductions of between 1% and 15% of eligible compensation during an offering period. A new offering period begins approximately every June 15 and December 15. At the last business day of each offering period, the accumulated contributions made during the offering period will be used to purchase shares. The purchase price is 85% of the lesser of the fair market value of the common stock on the first or the last business day of an offering period. The maximum number of shares of common stock that may be purchased by any participant during an offering period will be equal to $25,000 divided by the fair market value of the common stock on the first business day of an offering period. During the years ended December 31, 2020 and 2019, there were 128,701 and 40,335 shares of common stock purchased under the 2019 ESPP, respectively. The Company recognized $0.2 million and $0.1 million in stock-based compensation expense for the shares to be issued under the 2019 ESPP for the years ended December 31, 2020 and 2019, respectively. As of December 31, 2020, unrecognized stock-based compensation expense was approximately $0.2 million, which the Company expects to recognize over a weighted-average remaining period of 0.5 years, assuming all unvested shares become fully vested. The fair value of shares to be issued to employees under the 2019 ESPP is estimated using a Black-Scholes option-pricing model at the grant date, which requires the use of subjective and complex assumptions, including (i) the expected stock price volatility, (ii) the calculation of the expected term of the award, (iii) the risk-free interest rate and (iv) the expected dividend yield. The following weighted average assumptions were used in the calculation of fair value of shares under the 2019 ESPP at the grant dates for the period indicated. Year Ended December 31, 2020 Year Ended December 31, 2019 Expected volatility 94.8 % 81.4 % Risk-free interest rate 0.1 % 1.9 % Expected dividend yield — % — % Expected term (years) 0.5 0.5

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefits	Employee BenefitsThe Company has a defined contribution 401(k) plan for all qualifying employees. Employees are eligible to participate in the plan beginning on the first day of the month following their three-month anniversary of employment. Under the terms of the plan, employees may make voluntary contributions as a percent of their compensation. The Company makes a safe-harbor contribution of three percent (3.0%) of each employee’s gross earnings, subject to Internal Revenue Service limitations. In the years ended December 31, 2020 and 2019, the Company made safe-harbor contributions of approximately $0.4 million and $0.2 million, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is subject to taxation in the United States, United Kingdom and various states jurisdictions. Tax years since Neothetics and Private Evofem's inception of 2007 and 2009, respectively, remain open to examination by the major taxing jurisdictions to which they are subject to. The Company’s consolidated pretax loss for the years ended December 31, 2020 and 2019 were generated by domestic as follows (in thousands). There are no consolidated pretax loss generated by foreign operations for the periods indicated. 2020 2019 United States $ (142,305) $ (80,029) Total $ (142,305) $ (80,029) Income tax provision for the years ended December 31, 2020 and 2019 consisted of the following (in thousands): 2020 2019 United States $ — $ — State (4) (4) Total current tax provision (4) (4) Total deferred tax provision — — Total $ (4) $ (4) The reconciliation between the Company’s effective tax rate on loss before income tax and the statutory tax rate for the years ended December 31, 2020 and 2019 was as follows: 2020 2019 Statutory rate 21.00 % 21.00 % State income tax, net of federal benefit 2.26 % 0.37 % Nondeductible expenses (1.59) % (2.05) % Equity-based expenses (0.76) % (0.58) % Loss on issuance of financial instruments (9.48) % (0.18) % Change in fair value of financial instruments 4.04 % (7.18) % Section 382 adjustment (7.49) % — % Return to provision 0.03 % (0.26) % Tax credits 0.45 % 1.35 % Uncertain tax positions 0.68 % (0.42) % Change in valuation allowance (9.14) % (12.05) % Effective tax rate — % — % Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company’s net deferred tax assets arising from its taxable subsidiaries consisted of the following components as of December 31, 2020 and 2019 (in thousands): 2020 2019 Deferred tax assets: Net loss carryforwards $ 78,124 $ 62,955 Fixed assets and intangibles 538 591 Research and development credits 4,059 6,953 Stock-based compensation 3,840 3,367 Other 3,230 885 Total deferred tax assets 89,791 74,751 Deferred tax liabilities Lease assets (1,621) (34) Fixed assets (457) — Less: valuation allowance (87,713) (74,717) Net deferred tax assets $ — $ — In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all the deferred tax assets will be realized. Generally, the ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Based on historical performance and future expectations, management has determined a valuation allowance is needed in respect to its ending deferred tax assets. As of December 31, 2020, the Company had net operating loss (NOL) carryforwards for federal income tax purposes of approximately $333.1 million, which will begin to expire in 2029 if not utilized. As of December 31, 2020, the Company had NOL carryforwards in various states of approximately $157.0 million. The state carryforwards have varying expiration dates beginning in 2029. The Company has foreign NOLs of $0.6 million that do not expire. As of December 31, 2020, the Company has federal and state research and development (R&D) tax credit carryforwards of approximately $3.7 million and $2.1 million, respectively. As of December 31, 2019, the Company has federal and state R&D tax credit carryforwards of approximately $7.8 million and $1.8 million, respectively. The federal R&D tax credits begin to expire in 2031, unless utilized, and the state credits do not expire. The following table summarized the activity related to the Company’s gross unrecognized tax benefits as of December 31, 2020 and 2019 (in thousands): 2020 2019 Balance at the beginning of the year $ 2,413 $ 2,061 Adjustments related to prior year tax positions (1,177) — Increases related to current year tax positions 229 352 Decreases due to statute of limitation expiration — — Balance at end of year $ 1,465 $ 2,413 The Company recognizes a tax benefit from an uncertain tax position when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits, and uncertain income tax positions must meet a more likely than not recognition threshold to be recognized. The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the consolidated statements of operations. There were no accrued interest and penalties associated with unrecognized tax benefits as of December 31, 2020. The Company does not anticipate a significant change in its uncertain tax benefits over the next 12 months. Management believes it is more likely than not that all significant tax positions taken to date would be sustained by the relevant taxing authorities. Furthermore, the Company has not recognized any tax benefits to date because the Company has established a full valuation allowance for its deferred tax assets due to uncertainties as to their ultimate realization. Pursuant to Sections 382 and 383, use of the Company’s NOLs and R&D credit carryforwards may be limited if a cumulative change in ownership of more than 50.0% (by value) occurs within a three-year period. The Company has completed an analysis under Internal Revenue Code (IRC) Sections 382 and 383 through December 31, 2019. The Company experienced ownership changes in 2010 and 2018. The Company is in the process of determining the attribute reductions resulting from these ownership changes. The Company has estimated that the reduction to the deferred tax asset for NOLs is $5.9 million and the reduction to the deferred tax asset for the R&D tax credit is $3.6 million. These tax attributes have been removed from the deferred tax assets as of December 31, 2020. These amounts will be updated when the attribute reduction analysis is completed. Also, the Company is in the process of completing the IRC Section 382 and 383 analysis for 2020 and will update the deferred tax assets for any changes in the NOLs and R&D tax credit once the analysis is complete. Any future ownership changes could also impact the utilization of the NOLs and R&D tax credits.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsSubsequent events were evaluated through the filing date of this Annual Report, March 4, 2021. On February 3, 2021, the Company issued an aggregate of 1,767,500 shares of performance-based RSAs to its executive management team and 2,370,525 shares of stock options to all eligible employees and under the Amended and Restated 2014 Equity Incentive Plan. The performance-based RSAs will vest in accordance with the Company's achievement of certain performance milestones in 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation and Principles	Basis of Presentation and Principles of ConsolidationThe Company prepared the consolidated financial statements in accordance with accounting principles generally accepted in the United States (GAAP) and the rules and regulations of the Securities and Exchange Commission (SEC) related to annual reports on Form 10-K.
Consolidation	The Company’s financial statements are presented on a consolidated basis, which include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation.
Reclassification	Reclassification The Company has separated the presentation of selling and marketing expenses from the total general and administrative expenses in the current period consolidated statement of operations. To conform prior year amounts to the current period presentation, a total of $10.2 million was reclassified from general and administrative expenses to selling and marketing expenses for the year ended December 31, 2019.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and the notes thereto. S ignificant estimates affecting amounts reported or disclosed in the consolidated financial statements include, but are not limited to: the assumptions used in measuring the revenue gross-to-net variable consideration items, the trade accounts receivable credit loss reserve estimate, the discount rate used in estimating the fair value of the lease right - of - use (ROU) assets and lease liabilities, the assumptions used in estimating the fair value of convertible notes, warrants and purchase rights issued, the useful lives of property and equipment, the recoverability of long-lived assets, clinical trial accruals, the assumptions used in estimating the fair value of stock-based compensation expense and in assessing the probability of achieving certain milestones associated with the performance-based restricted stock awards (performance-based RSAs). These assumptions are more fully described in Note 3- Revenue Recognition , Note 5- Convertible Notes , Note 7- Fair Value of Financial Instruments , Note 8- Commitments and Contingencies , and Note 12- Stock-based Compensation . The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances and adjusts when facts and circumstances dictate. The estimates are the basis for making judgments about the carrying values of
Segment Reporting	Segment Reporting Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker, who is the Chief Executive Officer (CEO) of the Company, in making decisions regarding resource allocation and assessing performance. The Company views its operations and manages its business in one operating segment.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. Deposits in the Company’s checking, time deposit and investment accounts are maintained in federally insured financial institutions and are subject to federally insured limits or limits set by Securities Investor Protection Corporation. The Company invests in funds through a major U.S. bank and is exposed to credit risk in the event of default to the extent of amounts recorded on the consolidated balance sheets. The Company has not experienced any losses in such accounts and believes it is not exposed to significant concentrations of credit risk on its cash, cash equivalents and restricted cash balances due to the financial position of the depository institutions in which these deposits are held.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents consist of readily available cash in checking accounts, money market funds, and investments in fixed income debt securities with original maturities of less than three months. Restricted cash consists of cash held in monthly time deposit accounts and letters of credit, which are collateral for the Company’s credit cards, facility leases and fleet leases as described in Note 8- Commitments and Contingencies . As of December 31, 2020, the Company maintained letters of credit of $0.8 million and $0.3 million for its office lease and fleet lease, respectively. Additionally, the remaining $22.2 million of the $25.0 million received from the issuance of convertible unsecured promissory notes in the fourth quarter of 2020 is classified as restricted cash as the Company is contractually obligated to use the funds for specific purposes.
Investments in Marketable Securities	Investments in Marketable Securities The Company's marketable investments are primarily money market funds and fixed income debt securities. Short-term investments consist of marketable fixed income debt securities with original maturities in excess of three months with remaining maturities of less than one year. Marketable fixed income debt securities where the Company has both the positive intent and ability to hold to maturity are classified as held-to-maturity and are carried at amortized cost. Unrealized gains or losses on held-to-maturity securities are not recognized until maturity, except other-than-temporary unrealized losses which are
Trade Accounts Receivable and Allowance	Trade Accounts Receivable and Allowance Trade accounts receivable are amounts owed to the Company by its customers for product that has been delivered. The trade accounts receivable are recorded at the invoice amount, less prompt pay and other discounts, chargebacks, and an allowance for credit losses, if any. The allowance for credit losses is the Company’s estimate of losses over the life of the receivables. The Company evaluates forward looking economic factors and uses professional judgment to determine the allowance for credit losses, as Phexxi was commercially launched in September 2020 and a significant amount of historical data is not yet available.
Fair Value	Fair Value of Financial Instruments The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which to transact and the market-based risk. The Company applies fair value accounting for all assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis. The valuation of assets and liabilities are subject to fair value measurements using a three-tiered approach and fair value measurement is classified and disclosed by the Company in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported by little or no market activity). The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, restricted cash, accounts payable, Adjuvant convertible notes payable Baker Bros. Purchase Agreement, as described in Note 5- Convertible Note s Fair Value of Warrants The fair value of each of (i) the warrants issued to funds affiliated with WIM (as defined below) and Invesco (as defined below) in connection with the Merger, (ii) Reload Warrants (as defined below) issued in February 2019, (iii) warrants issued in April and June 2019 in connection with the Private Placement (as defined below), (iv) warrants issued in April and June 2020 in connection with the Baker Notes (as defined below), and (v) the change in fair value of warrants as a result of the modification and mark-to-market adjustments for liability-classified warrants were determined using the Black Scholes Merton (BSM) option-pricing model based on the applicable assumptions, which includes the exercise price of warrants, time to expiration, expected volatility of our peer group, risk-free interest rate and expected dividend. Fair Value of Purchase Rights The fair value of the Purchase Rights (as defined below) issued in connection with the Private Placement were determined using a combination of a lattice model and BSM option-pricing model. The lattice model was used to determine the future value of the Company’s common stock as of the Second Closing (as defined below). The BSM option-pricing model was used to determine the fair value of the warrants issued at the First Closing (as defined below) and Second Closing and the existing warrants subsequently canceled at the Second Closing (see discussion of the warrants canceled in Note 10- 2019 Private Placement ) based on the applicable assumptions. The initial fair value of the Baker Purchase Rights issued in connection with the Baker Bros. Purchase Agreement, as described in Note 5- Convertible Notes
Inventory	Inventory Inventories, consisting of purchased materials, direct labor and manufacturing overheads, are stated at the lower of cost, or net realizable value. Cost is determined on a first-in, first-out basis. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. At each balance sheet date, the Company evaluates ending inventories for excess quantities, obsolescence, or shelf-life expiration. The evaluation includes an analysis of the Company’s current and future strategic plans, anticipated future sales, the price projections of future demand, and the remaining shelf life of goods on han
Property and Equipment	Property and Equipment Property and equipment generally consist of research equipment, computer equipment and software and office furniture, and are recorded at cost and depreciated over the estimated useful lives of the assets (generally three
Impairment of Long-Lived Assets	Impairment of Long-lived Assets The Company reviews property and equipment for impairment on an annual basis and whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. An impairment loss would be recognized when estimated future undiscounted cash flows relating to the asset or asset group are less than its carrying amount. An impairment loss is measured as the amount by which the carrying amount of an asset or asset group exceeds its fair value. While the Company’s current and historical operating losses and negative cash flows are possible indicators of impairment, management believes that future cash flows to be generated by these assets support the carrying value of its long-lived assets and, accordingly, did not recognize any impairment losses during the years ended December 31, 2020 and 2019.
Clinical Trial Accruals	Clinical Trial Accruals As part of the process of preparing the financial statements, the Company is required to estimate expenses resulting from obligations under contracts with vendors, clinical research organizations (CROs), consultants and under clinical site agreements relating to conducting clinical trials. The financial terms of these contracts vary and may result in payment flows that do not match the periods over which materials or services are provided under such contracts. The Company's objective is to reflect the appropriate clinical trial expenses in our consolidated financial statements by recording those expenses in the period in which services are performed and efforts are expended. The Company accounts for these expenses according to the progress of the clinical trial as measured by patient progression and the timing of various aspects of the trial. Management determines accrual estimates through financial models and discussions with applicable personnel and outside service providers as to the progress of clinical trials.
Leases	Leases The Company determines if an arrangement is a lease or implicitly contains a lease at inception based on the lease definition, and if the lease is classified as an operating lease or finance lease in accordance with ASC 842, Leases (ASC842). Operating leases are included in operating lease ROU assets and operating lease liabilities in its consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at commencement date or the Adoption Date for existing leases based on the present value of lease payments over the lease term using an estimated discount rate. As the Company’s leases do not provide an implicit rate, the Company used an incremental borrowing rate based on the information available at commencement date or the Adoption Date in determining the present value of lease payments over a similar term. In determining the estimated incremental borrowing rate, the Company considered a rate obtained from its primary banker for discussion purposes of a potential collateralized loan with a term similar to the lease term, the Company’s historical borrowing capability in the market, and the Company’s costs incurred for underwriting discounts and financing costs in its previous equity financing. The ROU assets also include any lease payments made and exclude lease incentives. For operating leases, lease expense is recognized on a straight-line basis over the lease term. Lease and non-lease components within a contract are generally accounted for separately. Operating lease ROU assets and lease liabilities were $6.9 and $8.3 million at December 31, 2020, respectively, and were both $0.2 million at December 31, 2019. See Note 8 - Commitments and Contingencies for more detail discussions on leases and financial statements information under ASC 842. Revenue The Company recognizes revenue from the sale of Phexxi in accordance with ASC 606, Revenue from Contracts with Customers (ASC 606). Revenue is recognized when the Company’s performance obligation is satisfied by transferring control of the product to a customer. In accordance with the Company’s contracts with customers, control of the product is transferred upon the conveyance of title, which occurs when the product is sold to and received by a customer. The amount of revenue recognized by the Company is equal to the amount of consideration that is expected to be received from the sale of product to its customers.
Revenue	Revenue The Company recognizes revenue from the sale of Phexxi in accordance with ASC 606, Revenue from Contracts with Customers (ASC 606). Revenue is recognized when the Company’s performance obligation is satisfied by transferring control of the product to a customer. In accordance with the Company’s contracts with customers, control of the product is transferred upon the conveyance of title, which occurs when the product is sold to and received by a customer. The amount of revenue recognized by the Company is equal to the amount of consideration that is expected to be received from the sale of product to its customers. In accordance with ASC 606, the Company recognizes revenue when its performance obligation is satisfied by transferring control of the product to a customer. In accordance with the Company’s contracts with customers, control of the product is transferred upon the conveyance of title, which occurs when the product is sold to and received by a customer. The Company’s customers are located in the United States and consist of wholesale distributors and a specialty retail pharmacy. Payment terms typically range from 45 to 66 days, include prompt pay discounts, and vary by customer. Trade accounts receivable due to the Company from contracts with its customers are stated separately in the balance sheet, net of various allowances as described in the Trade Accounts Receivable policy in Note 2- Summary of Significant Accounting Policies . The amount of revenue recognized by the Company is equal to the amount of consideration that is expected to be received from the sale of product to its customers. Revenue is only recognized when the performance obligation is satisfied. To determine whether a significant reversal will occur in future periods, the Company assesses both the likelihood and magnitude of any such potential reversal of revenue. Phexxi is sold to customers at the wholesale acquisition cost (WAC). However, the Company records product revenue, net of reserves for applicable variable consideration. These types of variable consideration reduce revenue and include the following: • Distribution services fees • Prompt pay and other discounts • Product returns • Chargebacks • Rebates • Co-pay programs An estimate for variable consideration is made with each sale and is recorded in conjunction with the revenue being recognized. To calculate the variable consideration, the Company uses the expected value method. If the estimated amount is payable to a customer, it is recorded as a reduction to accounts receivable. If the estimated amount is payable to an entity other than a customer, it is recorded as a current liability. An estimated amount of variable consideration may differ from the actual amount. At each balance sheet date, these provisions are analyzed, and adjustments are made if necessary. Any adjustments made to these provisions would also affect net product revenue and earnings. In accordance with ASC 606, the Company must make significant judgments to determine the estimate for certain variable consideration. For example, the Company must estimate the percentage of end-users that will obtain the product through public insurance such as Medicaid or through private commercial insurance. To determine these estimates, the Company relies on historical sales data showing the amount of various end-user consumer types, inventory reports from the wholesale distributors and specialty pharmacy, and other relevant data reports. However, because Phexxi was launched in September 2020 this historical data is limited. Due to limits on historical data, the Company has used trend analysis, industry standard data, and professional judgment. The specific considerations that the Company uses in estimating these amounts related to variable consideration are as follows: Distribution services fees – The Company pays distribution service fees to its wholesale distributors and specialty pharmacy. These fees are a contractually fixed percentage of WAC and are calculated at the time of sale based on the purchase amount. The Company considers these fees to be separate from the customer’s purchase of the product, therefore, they are recorded in other current liabilities on the consolidated balance sheet. Prompt pay and other discount s – The Company incentivizes its customers to pay their invoices on time through prompt pay discounts. These discounts are an industry standard practice and the company offers a prompt pay discount to each wholesale distributor customer. The specific prompt pay terms vary by customer and are contractually fixed. Prompt pay discounts are typically taken by the Company’s customers, so an estimate of the discount is recorded at the time of sale based on the purchase amount. Prompt pay discount estimates are recorded as contra trade accounts receivable on the consolidated balance sheet. The Company may also give other discounts to its customers to incentivize purchases and promote customer loyalty. The terms of such discounts may vary by customer. These discounts reduce gross product revenue at the time the revenue is recorded. Chargebacks – Certain government entities and covered entities (e.g. Veterans Administration, 340B covered entities) will be able to purchase the product at a price discounted below WAC. The Company has finalized agreements with these types of entities. The difference between the government or covered entity purchase price and the wholesale distributor purchase price of WAC will be charged back to the Company. The Company estimates the amount of each chargeback channel based on the expected number of claims in each channel and related cost that is associated with the revenue being recognized for product that remains in the distribution channel at the end of each reporting period. Estimated chargebacks are recorded as contra trade accounts receivable on the consolidated balance sheet. Rebates – The Company will be subject to mandatory discount obligations under the Medicaid and Tricare programs. The Company is currently in the process of finalizing these agreements with Medicaid and Tricare. The rebate amounts for these programs are determined by statutory requirements or contractual arrangements. Rebates are owed after the product has been dispensed to an end user and the Company has been invoiced. Rebates for Medicaid and Tricare are typically invoiced in arrears. The Company estimates the amount in rebates based on the expected number of claims and related cost that is associated with the revenue being recognized for product that remains in the distribution channel at the end of each reporting period. Rebate estimates are recorded as other current liabilities on the consolidated balance sheet. Co-pay programs - The Company offers co-pay programs to commercially insured patients whose insurance requires a co-pay to be made when filling their prescription. This is a voluntary program that is intended to provide financial assistance to patients meeting certain eligibility requirements. The Company estimates the amount of co-pay programs based on the expected number of claims and related cost that is associated with the revenue being recognized for product that remains in the distribution channel at the end of each reporting period. Co-pay programs estimates are recorded as other current liabilities on the consolidated balance sheet. Product returns – Customers have the right to return product that is within six months or less of the labeled expiration date or that is past the expiration date by no more than six months. Phexxi was commercially launched in September 2020 and there were no returns as of December 31, 2020. Due to the lack of historical data, the Company used professional judgment to estimate returns based on industry data for similar products. As time passes and historical data becomes available, the Company will begin to use historical sales and return data to estimate future product returns. Certain wholesale distributors also have the ability to return product that is related to the initial stocking order for the Phexxi product launch. The specific terms for this type of product return vary by the specific wholesale distributor agreement. Product return estimates are recorded as other current liabilities on the consolidated balance sheet.
Research and Development	Research and Development Research and development expenses include the costs associated with the Company’s research and development activities, including, but not limited to, payroll and personnel-related expenses, stock-based compensation expense, materials, laboratory supplies, clinical studies, and outside services. Research and development costs are expensed as incurred, except when accounting for nonrefundable advance payments for goods or services not yet received. These payments, if any, are capitalized at the time of payment and expensed as the related goods are delivered or the services are performed.
Advertising Cost	AdvertisingCosts for producing advertising are expensed when incurred. Costs for communicating advertising, such as television commercial airtime and print media space, are recorded as prepaid expenses and then expensed when the advertisement occurs.
Patent Expenses	Patent Expenses The Company expenses all costs incurred relating to patent applications (including direct application fees, and the legal and consulting expenses related to making such applications) and such costs are included in general and administrative expenses in the consolidated statements of operations.
Stock-based Compensation	Stock-based Compensation Stock-based compensation expense for stock options issued to employees, nonemployee directors and consultants is measured based on estimating the fair value of each stock option on the date of grant using the BSM option-pricing model. Expensing The following table summarizes the Company’s stock-based awards expensing policies for employees and nonemployees: Employees and Nonemployee Consultants After Adopting ASU 2018-07 Service only condition Straight-line based on the grant date fair value Performance criterion is probable of being met: Service criterion is complete Recognize the grant date fair value of the award(s) once the performance criterion is considered probable of occurrence Service criterion is not complete Expense using an accelerated multiple-option approach (1) over the remaining requisite service period Performance criterion is not probable of being met and: Is not tied to the successful completion of an initial public offering of the Company’s common stock (IPO) No expense is recognized until the performance criterion is considered probable at which point expense is recognized using an accelerated multiple-option approach Is tied to the successful completion of an IPO by the Company Upon closing of an IPO by the Company, recognize the grant date fair value of the award(s) ________________ (1) The accelerated multiple-option approach results in compensation expense being recognized for each separately vesting tranche of the award as though the award was in substance multiple awards and, therefore, results in accelerated expense recognition during the earlier vesting periods. Fair Value of Stock Options The fair value of stock options were determined using the BSM option-pricing model based on the applicable assumptions, which includes the exercise price of warrants, time to expiration, expected volatility of our peer group, risk-free interest rate and expected dividend. Forfeitures The Company records forfeitures when they occur. Performance-based Awards
Income Taxes	Income Taxes The accounting guidance for uncertainty in income taxes prescribes a recognition threshold and measurement attribute criteria for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities based on the technical merits of the position. The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and the tax reporting basis of assets
Net Loss Per Share	Net Loss Per ShareBasic 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 share is computed by dividing the net loss 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, potentially dilutive securities 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.
Recently Adopted and Recently Issued Accounting Pronouncements - Not Yet Adopted	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-13, Financial Instruments - Credit Losses , removing, modifying and adding certain disclosure requirements of ASC 326, Measurement of Credit Losses on Financial Instruments (ASU No. 2016-13), which requires credit losses relating to held-to maturity debt securities should be recorded through an allowance for credit losses. ASU No. 2016-13 was effective for the Company on January 1, 2020. The adoption of this new standard did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (ASU No. 2018-13), which removes, modifies, and adds certain disclosure requirements on fair value measurements in ASC 820, Fair Value Measurements and Disclosures . ASU No. 2018-13 was effective for the Company on January 1, 2020. The adoption of this new standard did not have a material impact on the Company's consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other removing, modifying and adding certain disclosure requirements of ASC 350, Internal-Use Software (ASU No. 2018-15), which requires capitalizing implementation costs incurred to develop or obtain internal-use software in a cloud computing arrangement that is a service contract. ASU No. 2018-15 was effective for the Company on January 1, 2020. The adoption of this new standard did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements — Not Yet Adopted In August 2020, the FASB issued ASU No. 2020-06, Debt (ASU No. 2020-06) , removing, modifying, and adding certain disclosure requirements of ASC 470, Debt with Conversion and Other Options , and ASC 815, Derivatives and Hedging - Contracts in Entity’s Own Equity (ASC 815) . ASU No. 2020-06 will be effective for the Company beginning January 1, 2024. The Company is currently evaluating the expected impact of ASU 2020-06 on the consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Reconciliation of Cash and Restricted Cash	Years Ended December 31, 2020 2019 Cash and cash equivalents $ 48,892 $ 15,571 Restricted cash 22,559 304 Restricted cash included in other noncurrent assets 800 750 Total cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows $ 72,251 $ 16,625
Summary of Stock Option Expensing Policies	The following table summarizes the Company’s stock-based awards expensing policies for employees and nonemployees: Employees and Nonemployee Consultants After Adopting ASU 2018-07 Service only condition Straight-line based on the grant date fair value Performance criterion is probable of being met: Service criterion is complete Recognize the grant date fair value of the award(s) once the performance criterion is considered probable of occurrence Service criterion is not complete Expense using an accelerated multiple-option approach (1) over the remaining requisite service period Performance criterion is not probable of being met and: Is not tied to the successful completion of an initial public offering of the Company’s common stock (IPO) No expense is recognized until the performance criterion is considered probable at which point expense is recognized using an accelerated multiple-option approach Is tied to the successful completion of an IPO by the Company Upon closing of an IPO by the Company, recognize the grant date fair value of the award(s) ________________ (1) The accelerated multiple-option approach results in compensation expense being recognized for each separately vesting tranche of the award as though the award was in substance multiple awards and, therefore, results in accelerated expense recognition during the earlier vesting periods.
Summary of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share	Potentially dilutive securities excluded from the calculation of diluted net loss per share are summarized in the table below. Years Ended December 31, 2020 2019 Unvested restricted common stock subject to repurchase 80,000 110,000 Unvested restricted stock units — 81,667 Common stock to be purchased under the 2019 ESPP 204,664 49,793 Options to purchase common stock 8,935,801 6,419,383 Warrants to purchase common stock 10,426,107 5,305,377 Total 19,646,572 11,966,220

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following (in thousands) for the period indicated: December 31, 2020 Raw materials $ 332 Work in process (1) 4,162 Finished goods 2,668 Total $ 7,162 _____________________ (1) The work in process balance represents all production costs incurred for partially completed goods.

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Debt Securities, Held-to-maturity	The following table illustrates the held-to-maturity securities’ amortized costs at purchase and the fair value for the period presented (in thousands). All of the short-term investments at December 31, 2019 have matured and there are no short-term investments as of December 31, 2020. December 31, 2019 Amortized Cost Basis Gross Unrealized Gains Fair Value Fixed income debt securities $ 8,233 $ 42 $ 8,275 Total held-to-maturity securities $ 8,233 $ 42 $ 8,275
Prepaid and Other Current Assets	Prepaid and other current assets consist of the following (in thousands): Years Ended December 31, 2020 2019 Selling and marketing related costs $ 15,414 $ 491 Insurance 900 481 Prepaid overhead 382 — Clinical trial related costs 304 — Other receivables — 436 Flex note receivable (1) 250 250 Other 800 655 Total $ 18,050 $ 2,313 _______________________
Property and Equipment, Net	Property and equipment, net, consists of the following (in thousands): Years Ended December 31, Useful Life 2020 2019 Research equipment 5 years $ 623 $ 608 Computer equipment and software 3 years 444 13 Office furniture 5 years 629 205 Leasehold improvements 5 years or less 1,540 340 Construction in-process — 2,249 77 5,485 1,243 Less: accumulated depreciation (1,151) (849) Total, net $ 4,334 $ 394
Other Noncurrent Assets	Other noncurrent assets consist of the following (in thousands): Years Ended December 31, 2020 2019 Restricted cash included in noncurrent assets $ 800 $ 750 Prepaid directors & officers' insurance 214 320 Flex note receivable, net of current portion — 250 Other 34 — Total $ 1,048 $ 1,320
Accrued Expenses	Accrued expenses consist of the following (in thousands): Years Ended December 31, 2020 2019 Clinical studies $ 1,417 $ 585 Marketing and public relations 564 — Legal and other professional fees 1,631 1,652 Manufacturing related costs 498 — Other 366 547 Total $ 4,476 $ 2,784

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured on a Recurring Basis	The fair values of the Company’s assets, including the money market funds, investments in marketable fixed income debt securities classified as cash and cash equivalents, restricted cash, investments in marketable fixed income debt securities classified as held-to-maturity, Flex Note receivable, and the Baker Notes, measured on a recurring basis are summarized in the following tables, as applicable (in thousands): December 31, 2020 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Money market funds (1) $ 53,485 $ 53,485 $ — $ — Fixed income debt securities classified as cash and cash equivalents 16,498 16,498 — — Flex note receivable 250 — 250 — Total assets $ 70,233 $ 69,983 $ 250 $ — Convertible notes payable (2) $ 50,752 $ — $ — $ 50,752 Total liabilities $ 50,752 $ — $ — $ 50,752 (1) Included as a component of cash and cash equivalents on the accompanying consolidated balance sheet. (2) The convertible notes payable as of December 31, 2020 on the accompanying consolidated balance sheet also includes approximately $1.7 million accrued interest on the Baker Notes. December 31, 2019 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Money market funds (1) $ 7,064 $ 7,064 $ — $ — Fixed income debt securities classified as cash and cash equivalents 6,749 — 6,749 — Fixed income debt securities classified as short-term investments 8,275 — 8,275 — Flex note receivable 500 — 500 — Total assets $ 22,588 $ 7,064 $ 15,524 $ — _______________________
Summary of Changes in Level 3 Financial Liabilities Measured at Fair Value on a Recurring Basis	The following tables summarize the changes in Level 3 financial liabilities measured at fair value on a recurring basis for the year ended December 31, 2020 and 2019 (in thousands). Baker First Closing Notes Baker Second Closing Notes Total Balance at December 31, 2019 $ — $ — $ — Initial liability at issuance 37,405 20,715 58,120 Change in fair value (6,954) (414) (7,368) Balance at December 31, 2020 (1) $ 30,451 $ 20,301 $ 50,752 _____________________ (1) The convertible notes payable as of December 31, 2020 on the accompanying consolidated balance sheet also includes approximately $1.7 million accrued interest on the Baker Notes. Baker First Closing Warrants Baker Purchase Rights Baker Second Closing Warrants Total Balance at December 31, 2019 $ — $ — $ — $ — Initial liability at issuance 14,007 27,636 5,098 46,741 Change in fair value (7,408) (11,823) (682) (19,913) Reclassification from liability to equity (6,599) — (4,416) (11,015) Exercise of Baker Purchase Rights for convertible notes — (10,715) — (10,715) Exercise of Baker Purchase Rights for warrants — (5,098) — (5,098) Balance at December 31, 2020 $ — $ — $ — $ — Private Placement Warrants Private Placement Balance at December 31, 2018 $ — $ — Initial liability at issuance 3,611 3,183 Change in fair value 3,315 19,617 Reclassification from liability to equity (6,926) (22,800) Balance at December 31, 2019 $ — $ —
Fair Value Measurement Inputs and Valuation Techniques	The fair value of the Baker Warrants issued during the second quarter of 2020 as described in Note 5- Convertible Notes , and the fair value of the Private Placement First Closing Warrants issued during the second quarter of 2019 as described in Note 10- 2019 Private Placement , and the respective changes in fair value of these warrants as a result of mark-to-market adjustments, were determined using the Black-Scholes option pricing model based on the following weighted-average assumptions for the periods indicated. Years Ended December 31, 2020 2019 Expected volatility 93.7 % 75.0 % Risk-free interest rate 0.4 % 2.2 % Expected dividend yield — % — % Expected term (years) 4.9 6.9

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Supplemental Financial Information, Lease Cost and Other information	Year Ended December 31, Lease Cost (in thousands) Classification 2020 2019 Operating lease expense Research and development $ 413 $ 307 Operating lease expense Selling and marketing 568 115 Operating lease expense General and administrative 625 315 Total $ 1,606 $ 737 Other information (in thousands) Year Ended Year Ended Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows in operating leases $ 1,185 $ 834
Supplemental Financial Information, Lease Assets and Liabilities and Lease Term and Discount Rate	Lease Term and Discount Rate December 31, 2020 December 31, 2019 Weighted Average Remaining Lease Term (in years) 4.43 0.25 Weighted Average Discount Rate 12 % 12 % Maturity of Operating Lease Liabilities (in thousands) Year Ended December 31 2021 $ 2,450 2022 2,515 2023 2,171 2024 2,192 2025 1,502 Total lease payments 10,830 Less: imputed interest (2,510) Total $ 8,320

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Schedule of Stockholders' Equity Note, Warrants or Rights	As of December 31, 2020, warrants to purchase up to 10,426,107 shares of the Company's common stock remain outstanding at a weighted average exercise price of $4.54 per share. These warrants are summarized below: Type of Warrants Underlying Common Stock to be Purchased Exercise Price Issue Date Exercise Period Common Warrants 878 $ 51.24 March 30, 2012 March 30, 2012 to March 30, 2022 Common Warrants 1,171 $ 51.24 August 17, 2012 August 17, 2012 to July 17, 2022 Common Warrants 7,806 $ 3.69 June 11, 2014 June 11, 2014 to June 11, 2024 Common Warrants 848,674 $ 7.50 May 24, 2018 May 24, 2018 to May 24 2025 Common Warrants 182 $ 7.50 June 26, 2018 June 26, 2018 to June 26, 2025 Common Warrants 1,666,667 $ 6.38 April 11, 2019 October 11, 2019 to April 11, 2026 Common Warrants 2,777,779 $ 6.38 June 10, 2019 December 10, 2019 to June 10, 2026 Common Warrants 3,073,770 $ 2.44 April 24, 2020 April 24, 2020 to April 24, 2025 Common Warrants 2,049,180 $ 2.44 June 9, 2020 June 9, 2020 to June 9, 2025 Total 10,426,107
Summary of Common Stock Reserved for Future Issuance	Common stock reserved for future issuance is as follows in common equivalent shares as of December 31, 2020: Common stock issuable upon the exercise of stock options outstanding 8,935,801 Common stock issuable upon the exercise of common stock warrants 10,426,107 Common stock available for future issuance under the 2019 ESPP 1,293,721 Common stock available for future issuance under the Amended and Restated 2014 Plan 1,735,573 Common stock available for future issuance under the Amended Inducement Plan 527,175 Total common stock reserved for future issuance 22,918,377

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation Expense Related to Stock Options	The following table summarizes stock-based compensation expense related to stock options, restricted stock awards (RSAs) and RSUs granted to employees, non-employee directors and consultants, and Employee Stock Purchase Plan included in the consolidated statements of operations as follows (in thousands): Years Ended December 31, 2020 2019 Research and development $ 1,922 $ 1,131 Selling and marketing 2,388 1,372 General and administrative 8,387 6,076 Total $ 12,697 $ 8,579
Summary of Stock Option Information	The following table summarizes share option activity for the year ended December 31, 2020: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2019 6,419,383 $ 6.68 8.44 8,336 Granted 2,955,185 $ 4.58 Exercised (21,652) $ 3.83 Forfeited (417,115) $ 4.83 Outstanding as of December 31, 2020 8,935,801 $ 6.08 7.76 $ 338 Options vested and expected to vest as of December 31, 2020 8,935,801 $ 6.08 7.76 $ 338 Options exercisable as of December 31, 2020 5,639,525 $ 7.10 7.04 $ 273 The following table summarizes certain information regarding stock options for the years ended December 31, 2020 and 2019 (in thousands, except per share data): 2020 2019 Weighted average grant date fair value per share of options granted during the period $ 3.20 $ 3.50 Fair value per share of options vested during the period $ 3.51 $ 3.94 Cash received from options exercised during the period $ 83 $ 95 Intrinsic value of options exercised during the period $ 47 $ 133
Weighted-Average Assumptions Rate	The fair value of noncash stock-based compensation for stock options granted to employees and non-employees was estimated on the date of grant using the Black-Scholes option pricing model based on the following weighted-average assumptions for options granted for the periods indicated. Years Ended December 31, 2020 2019 Expected volatility 82.7 % 76.3 % Risk-free interest rate 0.6 % 1.8 % Expected dividend yield — % — % Expected term (years) 6.0 5.9 Year Ended December 31, 2020 Year Ended December 31, 2019 Expected volatility 94.8 % 81.4 % Risk-free interest rate 0.1 % 1.9 % Expected dividend yield — % — % Expected term (years) 0.5 0.5
Summary of Restricted Stock Awards and Restricted Stock Units	The following table summarizes RSAs and RSUs activity for the year ended December 31, 2020: Shares (RSAs) Weighted Average Fair Value per Share Shares (RSUs) Weighted Average Fair Value per Share Unvested as of December 31, 2019 110,000 $ 4.91 81,667 $ 3.87 Granted 1,275,000 $ 4.86 150,000 $ 5.16 Canceled — $ — (150,000) $ 5.16 Released (1,305,000) $ 4.87 (81,667) $ 3.72 Unvested as of December 31, 2020 80,000 $ 4.78 — $ —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Consolidated pretax loss from continuing operations	The Company’s consolidated pretax loss for the years ended December 31, 2020 and 2019 were generated by domestic as follows (in thousands). There are no consolidated pretax loss generated by foreign operations for the periods indicated. 2020 2019 United States $ (142,305) $ (80,029) Total $ (142,305) $ (80,029)
Income tax provision from continuing operations	Income tax provision for the years ended December 31, 2020 and 2019 consisted of the following (in thousands): 2020 2019 United States $ — $ — State (4) (4) Total current tax provision (4) (4) Total deferred tax provision — — Total $ (4) $ (4)
Reconciliation between the Companys effective tax rate on loss from continuing operations and the statutory tax rate	The reconciliation between the Company’s effective tax rate on loss before income tax and the statutory tax rate for the years ended December 31, 2020 and 2019 was as follows: 2020 2019 Statutory rate 21.00 % 21.00 % State income tax, net of federal benefit 2.26 % 0.37 % Nondeductible expenses (1.59) % (2.05) % Equity-based expenses (0.76) % (0.58) % Loss on issuance of financial instruments (9.48) % (0.18) % Change in fair value of financial instruments 4.04 % (7.18) % Section 382 adjustment (7.49) % — % Return to provision 0.03 % (0.26) % Tax credits 0.45 % 1.35 % Uncertain tax positions 0.68 % (0.42) % Change in valuation allowance (9.14) % (12.05) % Effective tax rate — % — %
Company's net deferred tax assets arising from its taxable subsidiaries	The Company’s net deferred tax assets arising from its taxable subsidiaries consisted of the following components as of December 31, 2020 and 2019 (in thousands): 2020 2019 Deferred tax assets: Net loss carryforwards $ 78,124 $ 62,955 Fixed assets and intangibles 538 591 Research and development credits 4,059 6,953 Stock-based compensation 3,840 3,367 Other 3,230 885 Total deferred tax assets 89,791 74,751 Deferred tax liabilities Lease assets (1,621) (34) Fixed assets (457) — Less: valuation allowance (87,713) (74,717) Net deferred tax assets $ — $ —
Activity related to the Company's gross unrecognized tax benefits	The following table summarized the activity related to the Company’s gross unrecognized tax benefits as of December 31, 2020 and 2019 (in thousands): 2020 2019 Balance at the beginning of the year $ 2,413 $ 2,061 Adjustments related to prior year tax positions (1,177) — Increases related to current year tax positions 229 352 Decreases due to statute of limitation expiration — — Balance at end of year $ 1,465 $ 2,413

Description of Business and B_2

Description of Business and Basis of Presentation - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Entity Information [Line Items]
Selling and marketing expense adjustment			$ 56,467	$ 10,238
Proceeds from issuance of common stock	$ 103,700
Proceeds from issuance of common stock, net of commissions - ATM transactions			3,781	2,960
Cash and cash equivalents		$ 15,571	48,892	15,571
Working capital deficit			20,400
Accumulated deficit		513,179	655,488	$ 513,179
At-The-Market (ATM)
Entity Information [Line Items]
Proceeds from issuance of common stock, net of commissions - ATM transactions	$ 3,800
Convertible Notes Payable
Entity Information [Line Items]
Proceeds from issuance of long-term convertible notes			$ 50,000
Revision of Prior Period, Reclassification, Adjustment
Entity Information [Line Items]
Selling, general and administrative expense		10,200
Selling and marketing expense adjustment		$ 10,200

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020USD ($)Segment	Jun. 05, 2020shares	Apr. 24, 2020USD ($)	Apr. 14, 2020USD ($)	Dec. 31, 2019USD ($)	Oct. 03, 2019USD ($)	Apr. 11, 2019shares
Property, Plant and Equipment [Line Items]
Number of operating segments | Segment	1
Restricted cash	$ 22,559,000				$ 304,000
Proceeds received from issuance of convertible unsecured promissory notes	25,000,000
Purchase agreement, amount of securities purchasable under agreement (up to)			$ 10,000,000
Operating lease right-of-use assets	6,856,000				160,000
Operating lease liability	$ 8,320,000				$ 200,000
Accounts Receivable | Customer Concentration Risk
Property, Plant and Equipment [Line Items]
Concentration risk (percent)	95.00%
Revenue Benchmark | Customer Concentration Risk
Property, Plant and Equipment [Line Items]
Concentration risk (percent)	92.00%
Convertible Notes Payable
Property, Plant and Equipment [Line Items]
Restricted cash	$ 22,200,000
Baker Second Closing Notes
Property, Plant and Equipment [Line Items]
Number of shares of to purchase capital stock (in shares) | shares		2,049,180
Letter of Credit
Property, Plant and Equipment [Line Items]
Deposit				$ 50,000		$ 750,000
Office lease | Letter of Credit
Property, Plant and Equipment [Line Items]
Deposit	800,000
Fleet lease | Letter of Credit
Property, Plant and Equipment [Line Items]
Deposit	$ 300,000
Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Common Stock | Private Placement - First Closing
Property, Plant and Equipment [Line Items]
Number of shares of to purchase capital stock (in shares) | shares							1,666,667

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Reconciliation of Cash, Cash Equivalent, and Restricted Cash (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 48,892	$ 15,571
Restricted cash	22,559	304
Restricted cash included in other noncurrent assets	800	750
Total cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows	$ 72,251	$ 16,625	$ 1,761

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	19,646,572	11,966,220
Unvested restricted common stock subject to repurchase
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	80,000	110,000
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	0	81,667
Common stock to be purchased under the 2019 ESPP
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	204,664	49,793
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	8,935,801	6,419,383
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (in shares)	10,426,107	5,305,377

Revenue - Additional Informatio

Revenue - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Disaggregation of Revenue [Line Items]
Accrued balance of variable considerations	$ 1
Minimum
Disaggregation of Revenue [Line Items]
Payment term	45 days
Maximum
Disaggregation of Revenue [Line Items]
Payment term	66 days

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) $ in Thousands	Dec. 31, 2020USD ($)
Inventory Disclosure [Abstract]
Raw materials	$ 332
Work in process	4,162
Finished goods	2,668
Total	$ 7,162

Convertible Notes (Details)

Convertible Notes (Details) - USD ($)	Oct. 14, 2020	Jun. 18, 2020	Jun. 05, 2020	Apr. 24, 2020	Mar. 24, 2020	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Apr. 23, 2020	Jan. 17, 2018
Debt Instrument [Line Items]
Purchase agreement, amount of securities purchasable under agreement (up to)				$ 10,000,000
Stock option warrant to purchase, exercise price per share (in dollars per share)						$ 4.54		$ 4.54
Term					10 days
Interest expense								$ 2,061,000	$ 0
Loss on issuance of financial instruments								64,049,000	674,000
Change in fair value of financial instruments								27,281,000	(27,372,000)
Reclassification from financial instruments liability to equity									29,726,000
Convertible notes, short-term						$ 52,409,000		$ 52,409,000	$ 0
Common stock, par value (in dollars per share)						$ 0.0001		$ 0.0001	$ 0.0001		$ 0.0001
Convertible notes, long-term						$ 25,211,000		$ 25,211,000	$ 0
Convertible Notes Payable
Debt Instrument [Line Items]
Interest expense								1,700,000
Baker Bros. Notes
Debt Instrument [Line Items]
Securities sold under purchase agreement				15,000,000
Purchase agreement, amount of securities purchasable under agreement (up to)			$ 10,000,000
Purchase agreement, threshold amount of aggregate gross proceeds from one or more future sales of equity securities (at least)				$ 100,000,000
Stock option warrant to purchase, exercise price per share (in dollars per share)			$ 2.44
Term			5 years
Convertible notes							$ 58,100,000
Warrants and purchase rights issued							46,700,000
Loss on issuance of financial instruments							64,000,000
Change in fair value of financial instruments						(6,800,000)	$ 34,100,000
Reclassification of purchase rights liability			$ 15,800,000
Reclassification from financial instruments liability to equity		$ 11,000,000
Convertible notes, short-term						52,400,000		52,400,000
Convertible notes, short-term, principal amount						50,700,000		50,700,000
Convertible notes, short-term, accrued interest						1,700,000		1,700,000
Baker Bros. Notes | Convertible Notes Payable
Debt Instrument [Line Items]
Interest expense						1,700,000
Baker Bros. Notes | Baker First Closing Warrants
Debt Instrument [Line Items]
Stock option warrant to purchase common stock (in shares)				3,073,770
Baker Bros. Notes | Baker Second Closing Warrants
Debt Instrument [Line Items]
Stock option warrant to purchase common stock (in shares)			2,049,180
Baker Bros. Notes | Convertible Notes Payable
Debt Instrument [Line Items]
Aggregate principal amount of convertible senior secured promissory notes (up to)										$ 25,000,000
Note term				5 years
Note interest rate (percent)				10.00%
Written notice period				10 days
Measurement period for determining weighted average price				30 days
Convertible notes, stock price, benchmark (in dollars per share)				$ 4.99
Debt redemption in event of default, multiple of outstanding balance				3
Baker Bros. Notes | Convertible Notes Payable | Period Two
Debt Instrument [Line Items]
Redemption price (percent)				100.00%
Baker Bros. Notes | Convertible Notes Payable | Period One
Debt Instrument [Line Items]
Redemption price (percent)				110.00%
Baker Bros. Notes | Convertible Notes Payable | Period Three
Debt Instrument [Line Items]
Redemption price (percent)				110.00%
Adjuvant Notes | Convertible Notes Payable
Debt Instrument [Line Items]
Aggregate principal amount of convertible senior secured promissory notes (up to)	$ 25,000,000
Note term				5 years
Note interest rate (percent)	7.50%
Interest expense								400,000
Common stock, par value (in dollars per share)	$ 0.0001
Conversion price (in dollars per share)	$ 3.65
Weighted average period	30 days
Weighted average price per share (in dollars per share)	$ 10
Debt covenant, cumulative net sales requirement	$ 100,000,000
Restricted cash	$ 25,000,000					22,200,000		22,200,000
Convertible notes, long-term						25,200,000		25,200,000
Convertible notes, long-term, principal amount						24,800,000		24,800,000
Convertible notes, long-term, accrued interest						$ 400,000		$ 400,000
Adjuvant Notes | Convertible Notes Payable | Minimum
Debt Instrument [Line Items]
Beneficial ownership limitation (in percent)	0.0499
Adjuvant Notes | Convertible Notes Payable | Maximum
Debt Instrument [Line Items]
Beneficial ownership limitation (in percent)	0.1999

Balance Sheet Details - Short-t

Balance Sheet Details - Short-term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis	$ 0	$ 8,233
Gross Unrealized Gains		42
Fair Value		8,275
Fixed Income Securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost Basis		8,233
Gross Unrealized Gains		42
Fair Value		$ 8,275

Balance Sheet Details - Prepaid

Balance Sheet Details - Prepaid and Other Current Assets (Detail) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2016	Dec. 31, 2020	Dec. 31, 2019
Prepaid Expenses And Other Current Assets [Line Items]
Prepaid and other current assets		$ 18,050	$ 2,313
Consideration transferred	$ 1,900
Cash received	600
Payable due in consideration	$ 1,300
Interest rate (percent)	5.00%
Annual principal payment	$ 300
Selling and marketing related costs
Prepaid Expenses And Other Current Assets [Line Items]
Prepaid and other current assets		15,414	491
Insurance
Prepaid Expenses And Other Current Assets [Line Items]
Prepaid and other current assets		900	481
Prepaid overhead
Prepaid Expenses And Other Current Assets [Line Items]
Prepaid and other current assets		382	0
Clinical trial related costs
Prepaid Expenses And Other Current Assets [Line Items]
Prepaid and other current assets		304	0
Other receivables
Prepaid Expenses And Other Current Assets [Line Items]
Prepaid and other current assets		0	436
Flex note receivable
Prepaid Expenses And Other Current Assets [Line Items]
Prepaid and other current assets		250	250
Other
Prepaid Expenses And Other Current Assets [Line Items]
Prepaid and other current assets		$ 800	$ 655

Balance Sheet Details - Propert

Balance Sheet Details - Property and Equipment, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 5,485	$ 1,243
Less: accumulated depreciation	(1,151)	(849)
Total, net	4,334	394
Research equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 623	608
Useful life	5 years
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 444	13
Useful life	3 years
Office furniture
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 629	205
Useful life	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,540	340
Useful life	5 years
Construction in-process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,249	$ 77

Balance Sheet Details - Additio

Balance Sheet Details - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation expense	$ 0.3	$ 0.3

Balance Sheet Details - Other N

Balance Sheet Details - Other Noncurrent Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Restricted cash included in noncurrent assets	$ 800	$ 750
Other noncurrent assets	1,048	1,320
Other	34	0
Prepaid directors & officers' insurance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other noncurrent assets	214	320
Flex note receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other noncurrent assets	$ 0	$ 250

Balance Sheet Details - Accrued

Balance Sheet Details - Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Clinical studies	$ 1,417	$ 585
Marketing and public relations	564	0
Legal and other professional fees	1,631	1,652
Manufacturing related costs	498	0
Other	366	547
Accrued expenses	$ 4,476	$ 2,784

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Fair Value of Company's Level 3 Financial Liabilities Measured on a Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	$ 70,233	$ 22,588
Convertible notes payable	50,752
Total liabilities	50,752
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	69,983	7,064
Convertible notes payable	0
Total liabilities	0
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	250	15,524
Convertible notes payable	0
Total liabilities	0
Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	0	0
Convertible notes payable	50,752
Total liabilities	50,752
Money market fund
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	53,485	7,064
Money market fund | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	53,485	7,064
Money market fund | Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	0	0
Money market fund | Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	0	0
Fixed income securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	16,498
Fixed income securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	16,498
Fixed income securities | Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	0
Fixed income securities | Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	0
Flex note receivable
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	250	500
Flex note receivable | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	0	0
Flex note receivable | Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	250	500
Flex note receivable | Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets	$ 0	0
Cash and Cash Equivalents | Fixed income securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets		6,749
Cash and Cash Equivalents | Fixed income securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets		0
Cash and Cash Equivalents | Fixed income securities | Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets		6,749
Cash and Cash Equivalents | Fixed income securities | Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets		0
Short-term Investments | Fixed income securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets		8,275
Short-term Investments | Fixed income securities | Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets		0
Short-term Investments | Fixed income securities | Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets		8,275
Short-term Investments | Fixed income securities | Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total assets		$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Changes in Level 3 Financial Liabilities Measured at Fair Value on a Recurring Basis (Detail) - Significant Unobservable Inputs (Level 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 0
Initial liability at issuance	58,120
Change in fair value	(7,368)
Ending balance	50,752	$ 0
Debt | Baker First Closing Notes
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	0
Initial liability at issuance	37,405
Change in fair value	(6,954)
Ending balance	30,451	0
Debt | Baker Second Closing Notes
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	0
Initial liability at issuance	20,715
Change in fair value	(414)
Ending balance	20,301	0
Warrant Liability | Baker First Closing Warrants
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	0	0
Initial liability at issuance	14,007	3,611
Change in fair value	(7,408)	3,315
Reclassification from liability to equity	(6,599)	(6,926)
Exercise of Baker Purchase Rights for convertible notes	0
Exercise of Baker Purchase Rights for warrants	0
Ending balance	0	0
Warrant Liability | Baker Second Closing Warrants
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	0
Initial liability at issuance	5,098
Change in fair value	(682)
Reclassification from liability to equity	(4,416)
Exercise of Baker Purchase Rights for convertible notes	0
Exercise of Baker Purchase Rights for warrants	0
Ending balance	0	0
Purchase Rights Liability | Baker Purchase Rights
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	0	0
Initial liability at issuance	27,636	3,183
Change in fair value	(11,823)	19,617
Reclassification from liability to equity	0	(22,800)
Exercise of Baker Purchase Rights for convertible notes	(10,715)
Exercise of Baker Purchase Rights for warrants	(5,098)
Ending balance	0	0
Warrants And Purchase Rights Liability
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	0
Initial liability at issuance	46,741
Change in fair value	(19,913)
Reclassification from liability to equity	(11,015)
Exercise of Baker Purchase Rights for convertible notes	(10,715)
Exercise of Baker Purchase Rights for warrants	(5,098)
Ending balance	$ 0	$ 0

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - First Closing Warrants (Details) - Baker First Closing Warrants	Dec. 31, 2020	Dec. 31, 2019
Expected volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Measurement input	0.937	0.750
Risk-free interest rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Measurement input	0.004	0.022
Expected dividend yield
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Measurement input	0	0
Expected term (years)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Measurement input	4.9	6.9

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	Jun. 05, 2020	Apr. 24, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Purchase agreement, amount of securities purchasable under agreement (up to)		$ 10,000,000
Baker Second Closing Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Number of shares of to purchase capital stock (in shares)	2,049,180

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Jan. 01, 2021USD ($)	Jan. 30, 2015renewal_term	Aug. 31, 2016USD ($)	Oct. 30, 2015USD ($)	Sep. 30, 2019USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)claimvehicle	Dec. 31, 2019USD ($)claim	Nov. 30, 2019USD ($)	Apr. 14, 2020USD ($)ft²	Oct. 03, 2019USD ($)ft²
Loss Contingencies [Line Items]
Weighted Average Remaining Lease Term (in years)							4 years 5 months 4 days	3 months
Vehicles delivered | vehicle							76
Restricted cash							$ 22,559,000	$ 304,000
Square footage | ft²										8,816	24,474
Renewal period		5 years									5 years
Number of renewal periods | renewal_term		2
Periodic release of security deposit						$ 66,000			$ 5,000
Claims | claim							0
Accrued sublicense fees						$ 1,300,000
WCG Cares Sublicense Agreement
Loss Contingencies [Line Items]
Payments for sublicense agreement								$ 1,000,000
Other income					$ 300,000
Woman Care Global International | Sublicense Agreement
Loss Contingencies [Line Items]
Upfront license payment			$ 10,000,000
Maximum milestone license payment				$ 32,000,000
Annual sublicense fees				$ 5,000,000
Securities Deposit
Loss Contingencies [Line Items]
Claims | claim								0
Scenario Forecast | Rush University | Maximum
Loss Contingencies [Line Items]
Maximum earned royalties	$ 100,000
Scenario Forecast | Rush University | Royalty Agreement Terms
Loss Contingencies [Line Items]
Minimum annual royalty amount	$ 100,000
Letter of Credit
Loss Contingencies [Line Items]
Security deposit										$ 50,000	$ 750,000
Fleet lease | Letter of Credit
Loss Contingencies [Line Items]
Security deposit							$ 300,000
Office lease | Letter of Credit
Loss Contingencies [Line Items]
Security deposit							800,000
Securities Deposit | Fleet lease
Loss Contingencies [Line Items]
Restricted cash							300,000	$ 0
Securities Deposit | Office lease
Loss Contingencies [Line Items]
Restricted cash							$ 800,000	$ 800,000
Lease Contract Term One
Loss Contingencies [Line Items]
Weighted Average Remaining Lease Term (in years)								24 months
Lease Contract Term Two
Loss Contingencies [Line Items]
Weighted Average Remaining Lease Term (in years)								36 months

Commitments and Contingencies_2

Commitments and Contingencies - Lease Cost and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 1,606	$ 737
Weighted Average Remaining Lease Term (in years)	4 years 5 months 4 days	3 months
Weighted Average Discount Rate	12.00%	12.00%
Research and development
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 413	$ 307
Selling and marketing
Lessee, Lease, Description [Line Items]
Operating lease expense	568	115
General and administrative
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 625	$ 315

Commitments and Contingencies_3

Commitments and Contingencies - Future Operating Lease Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Maturity of Operating Lease Liabilities
2021	$ 2,450
2022	2,515
2023	2,171
2024	2,192
2025	1,502
Total lease payments	10,830
Less: imputed interest	(2,510)
Total	$ 8,320	$ 200

Commitments and Contingencies_4

Commitments and Contingencies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Operating cash outflows in operating leases	$ 1,185	$ 834

Related-party Transactions (Det

Related-party Transactions (Detail) $ in Thousands	Apr. 01, 2019USD ($)shares	Apr. 01, 2017USD ($)shares	Oct. 30, 2015agreement	Feb. 28, 2013	Dec. 31, 2020USD ($)shares	Dec. 31, 2019USD ($)	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Potential bonus as a percent of consulting fees earned (percent)	100.00%
Number of sublicenses | agreement			2
Cost of goods sold					$ 468	$ 0
Unvested restricted stock units
Related Party Transaction [Line Items]
Issued RSU for the right to shares common stock (in shares) | shares					150,000
Chairman | Unvested restricted stock units | Amended And Restated 2014 Plan
Related Party Transaction [Line Items]
Issued RSU for the right to shares common stock (in shares) | shares	150,000
Thomas Lynch | 2017 Consulting Agreement
Related Party Transaction [Line Items]
Vesting period		2 years
Compensation relates management service		$ 400
Stock option warrant to purchase common stock (in shares) | shares		6,416
Thomas Lynch | 2017 Consulting Agreement | Board service
Related Party Transaction [Line Items]
Compensation relates management service		$ 100
Thomas Lynch | Consulting Agreement 2019
Related Party Transaction [Line Items]
Vesting period	2 years
Compensation relates management service	$ 400
Thomas Lynch | Consulting Agreement 2019 | Board service
Related Party Transaction [Line Items]
Compensation relates management service	$ 100
Thomas Lynch | 2017 and 2019 Consulting Agreement
Related Party Transaction [Line Items]
Compensation paid					$ 100	600
Woman Care Global International
Related Party Transaction [Line Items]
Revenue from related parties						0
Woman Care Global International | License and Service
Related Party Transaction [Line Items]
Cost of goods sold							$ 5,000
Woman Care Global International | Grant Agreement
Related Party Transaction [Line Items]
Grant agreement term				3 years
WCG Cares
Related Party Transaction [Line Items]
Related party services fee						$ 0

2019 Private Placement (Details

2019 Private Placement (Details) - USD ($)	Jun. 10, 2019	Jun. 05, 2019	Apr. 11, 2019	Apr. 10, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Feb. 08, 2019	Jan. 17, 2018
Class of Warrant or Right [Line Items]
Common stock, par value (in dollars per share)						$ 0.0001	$ 0.0001		$ 0.0001
Stock option warrant to purchase, exercise price per share (in dollars per share)						$ 4.54
Warrant liability			$ 3,600,000
Change in fair value of warrants		$ 3,300,000				$ (27,281,000)	$ 27,372,000
Reclassification from warrant liability to additional paid-in capital		6,900,000
Purchase right liability			3,200,000
Loss on issuance of financial instruments			700,000			64,049,000	$ 674,000
Change in fair value of purchase rights		19,600,000
Reclassification from purchase rights liability to additional paid-in capital		$ 22,800,000
Securities Purchase Agreement
Class of Warrant or Right [Line Items]
Transaction value				$ 80,000,000
Common stock, par value (in dollars per share)				$ 0.0001
Private Placement - First Closing
Class of Warrant or Right [Line Items]
Advisory fees to financial advisors			1,800,000
Private Placement - Second Closing
Class of Warrant or Right [Line Items]
Consideration received	$ 50,000,000
Warrants fair value						$ 12,700,000
Advisory fees to financial advisors	2,800,000
Minimum | First and Second Closing
Class of Warrant or Right [Line Items]
Consideration received			$ 28,200,000
Maximum | First and Second Closing
Class of Warrant or Right [Line Items]
Consideration received	$ 47,200,000
Common Stock | Private Placement - First Closing
Class of Warrant or Right [Line Items]
Price per share (in dollars per share)				4.50
Stock option warrant to purchase, exercise price per share (in dollars per share)				$ 6.38
Warrants issued in connection with Agreement (in shares)			6,666,667
Common stock issued upon the exercise of common stock warrants (in shares)			1,666,667
Exercisable term			6 years
Common Stock | First Closing
Class of Warrant or Right [Line Items]
Consideration received			$ 30,000,000
WIM Warrants
Class of Warrant or Right [Line Items]
Change in fair value of warrants					$ 1,400,000
WIM Warrants | Private Placement - Second Closing
Class of Warrant or Right [Line Items]
Warrants cancelable after Second Closing (in shares)	475,000
Reload Warrants
Class of Warrant or Right [Line Items]
Stock option warrant to purchase, exercise price per share (in dollars per share)								$ 5.20
Common stock issued upon the exercise of common stock warrants (in shares)								1,188,029
Warrants fair value								$ 2,500,000
Reload Warrants | Private Placement - Second Closing
Class of Warrant or Right [Line Items]
Warrants cancelable after Second Closing (in shares)	1,188,029
PDL | Common Stock | Private Placement - Second Closing
Class of Warrant or Right [Line Items]
Warrants issued in connection with Agreement (in shares)	6,666,667
PDL | Baker Second Closing Warrants | Private Placement - Second Closing
Class of Warrant or Right [Line Items]
Warrants issued in connection with Agreement (in shares)	1,666,667
Invesco | Common Stock | Private Placement - Second Closing
Class of Warrant or Right [Line Items]
Warrants issued in connection with Agreement (in shares)	2,222,222
Invesco | Baker Second Closing Warrants | Private Placement - Second Closing
Class of Warrant or Right [Line Items]
Warrants issued in connection with Agreement (in shares)	555,556
WIM | Common Stock | Private Placement - Second Closing
Class of Warrant or Right [Line Items]
Warrants issued in connection with Agreement (in shares)	2,222,223
WIM | Baker Second Closing Warrants | Private Placement - Second Closing
Class of Warrant or Right [Line Items]
Warrants issued in connection with Agreement (in shares)	555,556

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)

Jun. 10, 2020USD ($)shares

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

Mar. 24, 2020$ / sharesshares

Jun. 10, 2019shares

Jun. 05, 2019USD ($)

Feb. 05, 2019USD ($)$ / sharesshares

Jun. 30, 2020USD ($)

Sep. 30, 2019USD ($)

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

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

Nov. 30, 2019USD ($)

Jun. 30, 2019$ / sharesshares

Feb. 08, 2019USD ($)$ / sharesshares

Jan. 17, 2018$ / sharesshares

Class Of Stock [Line Items]

Stock option warrant to purchase, exercise price per share (in usd per share) | $ / shares

$ 4.54

Proceeds from warrant exercises | $

$ 2,000

$ 6,273,000

Change in fair value of warrants | $

$ 3,300,000

$ (27,281,000)

$ 27,372,000

Warrants outstanding (in shares) | shares

10,426,107

Common stock, shares authorized (in shares) | shares

300,000,000

300,000,000

300,000,000

Common stock, par value (in dollars per share) | $ / shares

$ 0.0001

$ 0.0001

$ 0.0001

Issuance and sale of an aggregate shares (in shares) | shares

5,000,000

5,000,000

Proceeds from issuance of common stock, net of commissions - ATM transactions | $

$ 3,781,000

$ 2,960,000

Short-swing profit disgorgement | $

$ 187,000

Stock dividend, rights (in shares) | shares

1

Rights issued per share of common stock held (in dollars per share) | $ / shares

$ 1

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

$ 17.50

Vesting term for beneficial ownership threshold

10 days

Beneficial ownership threshold (percent)

0.32

Term

10 days

Convertible Preferred Stock

Class Of Stock [Line Items]

Issuance and sale of an aggregate shares (in shares) | shares

5,000,000

Preferred stock par value (in dollars per share) | $ / shares

$ 0.0001

Public Offering

Class Of Stock [Line Items]

Number of shares issued (in shares) | shares

28,500,000

Price per share (in dollars per share) | $ / shares

$ 3.50

Consideration received | $

$ 93,200,000

Period to purchase common stock at the Public Offering Price

30 days

Number of shares of common stock available for purchase at Public Offering Price (in shares) | shares

4,275,000

Over-allotment option

Class Of Stock [Line Items]

Number of shares issued (in shares) | shares

3,200,000

Consideration received | $

$ 10,500,000

At-The-Market (ATM)

Class Of Stock [Line Items]

Proceeds from issuance of common stock, net of commissions - ATM transactions | $

$ 3,800,000

Warrant Liability

Class Of Stock [Line Items]

Shares issued upon exercise (in shares) | shares

1,525,000

Stock option warrant to purchase, exercise price per share (in usd per share) | $ / shares

$ 2.64

Proceeds from warrant exercises | $

$ 6,300,000

Reload Warrants

Class Of Stock [Line Items]

Common stock issued upon the exercise of common stock warrants (in shares) | shares

1,188,029

Stock option warrant to purchase, exercise price per share (in usd per share) | $ / shares

$ 5.20

Warrants fair value | $

$ 2,500,000

WIM Warrants

Class Of Stock [Line Items]

Change in fair value of warrants | $

$ 1,400,000

Warrants canceled (in shares) | shares

475,000

Security Purchase Agreement Warrants

Class Of Stock [Line Items]

Common stock issued upon the exercise of common stock warrants (in shares) | shares

5,122,950

4,444,446

Stock option warrant to purchase, exercise price per share (in usd per share) | $ / shares

$ 2.44

$ 6.38

Certain Holders | Reload Warrants

Class Of Stock [Line Items]

Common stock issued upon the exercise of common stock warrants (in shares) | shares

851,062

Change in fair value of warrants | $

$ 500,000

Piper Sandler & Co. | At-The-Market (ATM)

Class Of Stock [Line Items]

Number of shares issued (in shares) | shares

676,656

Offering price of shares | $

$ 50,000,000

Proceeds from issuance of common stock, net of commissions - ATM transactions | $

$ 3,800,000

Other receivables | $

$ 300,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Warrants (Details) - $ / shares	Dec. 31, 2020	Jun. 09, 2020	Apr. 24, 2020	Jun. 10, 2019	Apr. 11, 2019	Jun. 26, 2018	May 24, 2018	Jun. 11, 2014	Aug. 17, 2012	Mar. 30, 2012
Class of Warrant or Right [Line Items]
Underlying Common Stock to be Purchased (in shares)	10,426,107
Stock option warrant to purchase, exercise price per share (in dollars per share)	$ 4.54
Common warrants
Class of Warrant or Right [Line Items]
Underlying Common Stock to be Purchased (in shares)		2,049,180	3,073,770	2,777,779	1,666,667	182	848,674	7,806	1,171	878
Stock option warrant to purchase, exercise price per share (in dollars per share)		$ 2.44	$ 2.44	$ 6.38	$ 6.38	$ 7.50	$ 7.50	$ 3.69	$ 51.24	$ 51.24

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Common Stock Reserved for Future Issuance (Detail)	Dec. 31, 2020shares
Class Of Stock [Line Items]
Common stock issuable upon the exercise of common stock warrants (in shares)	10,426,107
Total common stock reserved for future issuance (in shares)	22,918,377
Inducement Plan
Class Of Stock [Line Items]
Common stock available for future issuance under the Amended and Restated 2014 Plan and Inducement Plan (in shares)	527,175
Options to purchase common stock
Class Of Stock [Line Items]
Common stock issuable upon the exercise of stock options outstanding (in shares)	8,935,801
Options to purchase common stock | 2019 ESPP
Class Of Stock [Line Items]
Common stock available for future issuance under 2014 ESPP (in shares)	1,293,721
Options to purchase common stock | Amended And Restated 2014 Plan
Class Of Stock [Line Items]
Common stock available for future issuance under the Amended and Restated 2014 Plan and Inducement Plan (in shares)	1,735,573

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail) - USD ($)

Jan. 01, 2021

May 07, 2019

Sep. 30, 2012

Dec. 31, 2020

Feb. 26, 2019

Dec. 31, 2020

Dec. 31, 2019

Feb. 25, 2020

Jan. 01, 2019

Jul. 24, 2018

May 30, 2018

Nov. 30, 2014

Sep. 15, 2014

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares authorized (in shares)

28,333

Stock-based compensation expense

$ 12,697,000

$ 8,579,000

Unrecognized stock-based compensation expense for employee stock options

9,400,000

$ 9,400,000

Weighted-average remaining period

2 years 2 months 12 days

Options to purchase common stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation expense

$ 6,000,000

5,600,000

Unvested Restricted Common Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Issued RSU for the right to shares common stock (in shares)

1,275,000

RSAs and RSUs

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-based compensation expense

$ 6,500,000

$ 2,900,000

Compensation costs not yet recognized

$ 200,000

$ 200,000

Period for recognition

10 months 24 days

Two Thousand Twelve Equity Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expiration period

10 years

Amended And Restated 2014 Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares authorized (in shares)

11,725,515

7,800,000

749,305

Incremental number of shares authorized (in shares)

2,000,000

Automatic shares authorized under plan increase, percentage of common stock issued and outstanding (percentage)

4.00%

Inducement Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares authorized (in shares)

1,250,000

250,000

Employee Stock Purchase Plan 2014 | Employee Stock Purchase Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Incremental number of shares authorized (in shares)

258,672

Shares of common stock purchased under the ESPP (in shares)

0

Employee Stock Purchase Plan 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares of common stock purchased under the ESPP (in shares)

128,701

40,335

Employee Stock Purchase Plan 2019 | Options to purchase common stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common stock available for future issuance (in shares)

1,293,721

1,293,721

Employee Stock Purchase Plan 2019 | Employee Stock Purchase Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Incremental number of shares authorized (in shares)

1,000,000

1,000,000

Automatic shares authorized under plan increase, percentage of common stock issued and outstanding (percentage)

2.00%

Stock-based compensation expense

$ 200,000

$ 100,000

Compensation costs not yet recognized

$ 200,000

$ 200,000

Period for recognition

6 months

Common stock available for future issuance (in shares)

500,000

Purchase price discount as a percentage of fair market value (as a percentage)

85.00%

Shares available for purchase

$ 25,000

Vesting period one | Two Thousand Twelve Equity Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

4 years

Exercisable (as a percentage)

25.00%

Vesting period two | Two Thousand Twelve Equity Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Vesting period

3 years

Exercisable (as a percentage)

25.00%

Executive management team | Amended And Restated 2014 Plan | Unvested Restricted Common Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Issued RSU for the right to shares common stock (in shares)

1,275,000

641,000

Executive management team | Vesting period one | Amended And Restated 2014 Plan | Unvested Restricted Common Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Issued RSU for the right to shares common stock (in shares)

1,245,000

460,500

Subsequent Event | Amended And Restated 2014 Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Incremental number of shares authorized (in shares)

3,254,061

Subsequent Event | Employee Stock Purchase Plan 2019 | Employee Stock Purchase Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of additional shares authorized (in shares)

1,000,000

Minimum | Employee Stock Purchase Plan 2019 | Employee Stock Purchase Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Contribution limitations, percentage of employees salaries (as a percentage)

1.00%

Maximum | Employee Stock Purchase Plan 2019 | Employee Stock Purchase Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Contribution limitations, percentage of employees salaries (as a percentage)

15.00%

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 12,697	$ 8,579
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,922	1,131
Selling and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,388	1,372
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 8,387	$ 6,076

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Option Activity (Details) - Options to purchase common stock - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Options
Beginning outstanding (in shares)	6,419,383
Granted (in shares)	2,955,185
Exercised (in shares)	(21,652)
Forfeited (in shares)	(417,115)
Ending outstanding (in shares)	8,935,801	6,419,383
Options vested and expected to vest (in shares)	8,935,801
Options exercisable (in shares)	5,639,525
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning outstanding (in usd per share)	$ 6.68
Granted (in usd per share)	4.58
Exercised (in usd per share)	3.83
Forfeited (in usd per share)	4.83
Ending outstanding (in usd per share)	6.08	$ 6.68
Weighted Average Exercise Price, Options vested and expected to vest (in usd per share)	6.08
Weighted Average Exercise Price, Options exercisable (in usd per share)	$ 7.10
Weighted Average Remaining Contractual Term (in Years)	7 years 9 months 3 days	8 years 5 months 8 days
Weighted Average Remaining Contractual Term (in Years), Options vested and expected to vest	7 years 9 months 3 days
Weighted Average Remaining Contractual Term (in Years), Exercisable options	7 years 14 days
Aggregate Intrinsic Value	$ 338	$ 8,336
Aggregate Intrinsic Value, Options vested and expected to vest	338
Aggregate Intrinsic Value, Exercisable options	$ 273

Stock-based Compensation - St_2

Stock-based Compensation - Stock Option Grant Information (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Weighted average grant date fair value per share of options granted during the period (in usd per share)	$ 3.20	$ 3.50
Fair value per share of options vested during period (in usd per share)	$ 3.51	$ 3.94
Cash received from options exercised during the period	$ 83	$ 95
Intrinsic value of options exercised during the period	$ 47	$ 133

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Estimated Fair Value of Option Award Granted Determined Using Black-Scholes Option-Pricing Valuation Model (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Expected volatility (as a percentage)	82.70%	76.30%
Risk-free interest rate (as a percentage)	0.60%	1.80%
Expected dividend yield (as a percentage)	0.00%	0.00%
Expected term (years)	6 years	5 years 10 months 24 days

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Units and Awards Activity (Details)	12 Months Ended
	Dec. 31, 2020$ / sharesshares
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested beginning (in shares) | shares	110,000
Granted (in shares) | shares	1,275,000
Canceled (in shares) | shares	0
Released (in shares) | shares	(1,305,000)
Unvested ending (in shares) | shares	80,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning unvested Weighted Average Fair Value per Share (in usd per share) | $ / shares	$ 4.91
Granted (in usd per share) | $ / shares	4.86
Canceled (in usd per share) | $ / shares	0
Released (in usd per share) | $ / shares	4.87
Ending unvested Weighted Average Fair Value per Share (in usd per share) | $ / shares	$ 4.78
RSUs
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested beginning (in shares) | shares	81,667
Granted (in shares) | shares	150,000
Canceled (in shares) | shares	(150,000)
Released (in shares) | shares	(81,667)
Unvested ending (in shares) | shares	0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Beginning unvested Weighted Average Fair Value per Share (in usd per share) | $ / shares	$ 3.87
Granted (in usd per share) | $ / shares	5.16
Canceled (in usd per share) | $ / shares	5.16
Released (in usd per share) | $ / shares	3.72
Ending unvested Weighted Average Fair Value per Share (in usd per share) | $ / shares	$ 0

Stock-based Compensation - Fair

Stock-based Compensation - Fair Value Assumptions (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percentage)	82.70%	76.30%
Risk-free interest rate (as a percentage)	0.60%	1.80%
Expected dividend yield (as a percentage)	0.00%	0.00%
Expected term (years)	6 years	5 years 10 months 24 days
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility (as a percentage)	94.80%	81.40%
Risk-free interest rate (as a percentage)	0.10%	1.90%
Expected dividend yield (as a percentage)	0.00%	0.00%
Expected term (years)	6 months	6 months

Employee Benefits - Additional

Employee Benefits - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Company contribution (as a percentage)	3.00%
Company contributions amount	$ 0.4	$ 0.2

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Examination [Line Items]
Reduction to the deferred tax asset for NOLs	$ 5.9
Reduction to the deferred tax asset for the R&D credit	(3.6)
Federal
Income Tax Examination [Line Items]
Net operating loss (NOL) carryforwards	333.1
Tax credit carryforwards	3.7	$ 7.8
State
Income Tax Examination [Line Items]
Net operating loss (NOL) carryforwards	157
Tax credit carryforwards	2.1	$ 1.8
Foreign
Income Tax Examination [Line Items]
Net operating loss (NOL) carryforwards	$ 0.6

Income Taxes - Consolidated Pre

Income Taxes - Consolidated Pretax Loss from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
United States	$ (142,305)	$ (80,029)
Total	$ (142,305)	$ (80,029)

Income Taxes - Income Tax Provi

Income Taxes - Income Tax Provision from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
United States	$ 0	$ 0
State	(4)	(4)
Total current tax provision	(4)	(4)
Total deferred tax provision	0	0
Total	$ (4)	$ (4)

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation between Effective Tax Rate and Statutory Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Statutory rate (percent)	21.00%	21.00%
State income tax, net of federal benefit (percent)	2.26%	0.37%
Nondeductible expenses (percent)	(1.59%)	(2.05%)
Equity-based expenses (percent)	(0.76%)	(0.58%)
Loss on issuance of financial instruments (percent)	(9.48%)	(0.18%)
Change in fair value of financial instruments (percent)	4.04%	(7.18%)
Rate adjustment (percent)	(7.49%)	0.00%
Return to provision (percent)	0.03%	(0.26%)
Tax credits (percent)	0.45%	1.35%
Uncertain tax positions (percent)	0.68%	(0.42%)
Change in valuation allowance (percent)	(9.14%)	(12.05%)
Effective tax rate (percent)	0.00%	0.00%

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net loss carryforwards	$ 78,124	$ 62,955
Fixed assets and intangibles	538	591
Research and development credits	4,059	6,953
Stock-based compensation	3,840	3,367
Other	3,230	885
Total deferred tax assets	89,791	74,751
Deferred tax liabilities
Lease assets	(1,621)	(34)
Fixed assets	(457)	0
Less: valuation allowance	(87,713)	(74,717)
Net deferred tax assets	$ 0	$ 0

Income Taxes - Gross Unrecogniz

Income Taxes - Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the year	$ 2,413	$ 2,061
Adjustments related to prior year tax positions	(1,177)	0
Increases related to current year tax positions	229	352
Decreases due to statute of limitation expiration	0	0
Balance at end of year	$ 1,465	$ 2,413

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	Feb. 03, 2021shares
Subsequent Event [Line Items]
Number of options issued (in shares)	2,370,525
Performance Based Restricted Stock Awards
Subsequent Event [Line Items]
Granted (in shares)	1,767,500