Pulse Biosciences (PLSE) 10-Q 8 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	Pulse Biosciences, Inc.
Entity Filer Category	Smaller Reporting Company
Entity Central Index Key	1,625,101
Trading Symbol	plse
Amendment Flag	false
Document Type	10-Q
Document Fiscal Period Focus	Q3
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		16,341,256

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 32,423	$ 2,089
Investments	9,618	14,306
Prepaid expenses and other current assets	512	268
Total current assets	42,553	16,663
Property and equipment, net of accumulated depreciation	2,635	317
Intangible assets, net of accumulated amortization	6,044	6,543
Goodwill	2,791	2,791
Other asset	101
Total assets	54,124	26,314
Current liabilities:
Accounts payable	914	265
Accrued expenses	1,168	751
Deferred rent - current	392
Total current liabilities	2,474	1,016
Deferred rent	1,715
Total liabilities	4,189	1,016
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.001 par value; authorized - 5,000 shares; issued and outstanding - none
Common stock, $0.001 par value: authorized – 45,000 shares; issued and outstanding – 16,341 shares and 13,315 shares at September 30, 2017 and December 31, 2016, respectively	16	13
Additional paid-in-capital	79,391	37,898
Accumulated other comprehensive loss	(2)	(7)
Accumulated deficit	(29,470)	(12,606)
Total stockholders' equity	49,935	25,298
Total liabilities and stockholders' equity	$ 54,124	$ 26,314

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Condensed Consolidated Balance Sheets [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	45,000,000	45,000,000
Common stock, shares issued	16,341,000	13,315,000
Common stock, shares outstanding	16,341,000	13,315,000

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations And Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Consolidated Statements Of Operations And Comprehensive Loss [Abstract]
Revenue
Operating expenses:
General and administrative	4,159	893	9,151	2,063
Research and development	3,200	1,739	7,333	4,182
Amortization of intangible assets	166	166	499	499
Total operating expenses	7,525	2,798	16,983	6,744
Other income:
Interest income	39	31	119	35
Total other income	39	31	119	35
Net loss	(7,486)	(2,767)	(16,864)	(6,709)
Other comprehensive loss:
Unrealized gain on available-for-sale securities, net of tax	4		5
Comprehensive loss	$ (7,482)	$ (2,767)	$ (16,859)	$ (6,709)
Net loss per share:
Basic and diluted net loss per share	$ (0.52)	$ (0.21)	$ (1.19)	$ (0.66)
Weighted average shares used to compute net loss per common share - basic and diluted	14,381	13,315	14,141	10,235

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net loss	$ (16,864)	$ (6,709)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	196	70
Amortization of intangible assets	499	499
Stock-based compensation	6,403	627
Net premium amortization on investments	24	3
Landlord incentive for tenant improvements	2,119
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(244)	(463)
Accounts payable	649	184
Accrued expenses	207	56
Other asset	(101)
Deferred rent	(12)
Net cash used in operating activities	(7,124)	(5,733)
Cash flows from investing activities:
Purchases of property and equipment	(2,407)	(64)
Purchases of investments	(11,363)	(14,096)
Maturities of investments	16,034
Net cash provided by (used) in investing activities	2,264	(14,160)
Cash flows from financing activities:
Proceeds from issuance of common stock	34,944	20,915
Proceeds from exercise of warrants	50
Proceeds from exercises of stock options	200
Net cash provided by financing activities	35,194	20,915
Net increase in cash	30,334	1,022
Cash and cash equivalents at beginning of period	2,089	3,606
Cash and cash equivalents at end of period	32,423	4,628
Supplemental disclosure of noncash investing and financing activities:
Reclassification of deferred offering costs to additional paid-in capital upon initial public offering		$ 627
Equipment purchased in accrued expenses	109
Financing costs not yet paid	$ 101

Description Of The Business

Description Of The Business	9 Months Ended
	Sep. 30, 2017
Description Of The Business [Abstract]
Description Of The Business	1. Description of the Business Pulse Biosciences, Inc., incorporated in Nevada on May 19, 2014 , is a clinical-stage medical technolog y company developing commercial clinical applications for its proprietary Nano-Pulse Stimulation (“NPS”) technology. NPS is a novel patented technology that leverages nano-second duration energy pulses that have demonstrated effective local tumor control and the initiation of an adaptive immune response in pre-clinical studies. The Company is pursuing a number of potential clinical applications for NPS, including oncology, dermatology, aesthetics and other minimally invasive applications where the Company believes NPS may provide greater benefits compared to current therapies and treatments. The Company’s headquarters and research facility are located in Hayward , California. The Company’s activities are subject to significant risks and uncertainties, including the need for additional capital. The Company has not yet commenced any revenue-generating operations, does not have any cash flows from operations, and will need to raise additional capital to finance its operations. However, there can be no assurances that the Company will be able to obtain additional financing on acceptable terms and in the amounts necessary to fully fund its operating requirements.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation In the opinion of the Company’s management, the accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) have been prepared on a consistent basis with the Company’s December 31, 2016 audited Consolidated Financial Statements and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state the information set forth herein. The Financial Statements have been prepared in accordance with the applicable rules and regulations of the Securities and Exchange Commission and, as permitted by such rules and regulations, omit certain information and footnote disclosures necessary to present the financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The condensed consolidated balance sheet as of December 31, 2016 was derived from the audited consolidated financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for completed financial statements. These Financial Statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2016 included in the Company’s Annual Report on Form 10-K, filed on March 20, 2017 . The results of operations for the three-month and nine-month period s ended September 30 , 2017 are not necessarily indicative of the results to be expected for the entire year or any future periods. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the Financial Statements and accompanying notes to the Financial Statements. Estimates include, but are not limited to, the valuation of cash equivalents and investments, the valuation and recognition of share-based compensation and the useful lives assigned to long-lived assets. Actual results could differ materially from these estimates. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies during the nine -month period ended September 30 , 2017, as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 . Principles of Consolidation The accompanying consolidated financial statements include the financial statements of Pulse and its wholly-owned subsidiaries. Intercompany balances and transactions, if any, have been eliminated in consolidation. Net Loss per Share The Company’s basic net loss per share is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period. Diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock and common stock warrants are considered common stock equivalents. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted net loss per share. Basic and diluted net loss per common share is the same for all periods presented because all warrants , stock options and restricted stock units outstanding are anti-dilutive. The following outstanding stock options , warrants and restricted stock units were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:      Nine-Month Periods Ended  September 30,  2017 2016  Common stock warrants 705,121 874,610  Common stock options 2,326,676 1,254,790  Restricted stock units 229,774 —  Total 3,261,571 2,129,400     Reclassification Certain items in the prior period financial statements have been reclassified to conform to the presentation in the current period financial statements. Recent Accounting Pronouncements Recently Adopted Accounting Standards During March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-based Payment Accounting . This ASU simplifies the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU requires that excess tax benefits and deficiencies be recognized as income tax benefit or expense in the income statement. The Company adopted this ASU as of January 1, 2017. The adoption of this ASU did not have a significant impact on the Company’s financial position. Recently Issued Accounting Standards During May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers . This updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued an update to defer the effective date of this update to periods beginning after December 15, 2017 . This updated standard becomes effective for the Company in the first quarter of fiscal year 2018 . The Company expects to adopt this standard upon commencing revenue generating activities. Since the Company has not recognized or generated revenue to date, it does not expect the adoption of this pronouncement on January 1, 2018 to have any impact to its financial statements. During February 2016, the FASB issued ASU No. 2016-02, Leases , which amends the existing accounting standards for leases. The new standard requires lessees to record a right-of-use asset and a corresponding lease liability on the balance sheet (with the exception of short-term leases). For lessees, leases will continue to be classified as either operating or financing in the income statement. This ASU becomes effective for the Company in the first quarter of fiscal year 2019 and early adoption is permitted. This ASU is required to be applied with a modified retrospective approach and requires application of the new standard at the beginning of the earliest comparative period presented. The Company generally does not finance purchases of equipment or other capital, but does lease its facilities. While the Company is continuing to assess all potential impacts of this standard, it expects that most of its lease commitments will be subject to the updated standard and recognized as lease liabilities and right-of-use assets upon adoption. During June 2016, the FASB issued ASU 2016-13, Financial Instruments — Measurement of Credit Losses on Financial Instruments , which requires measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 is effective for the Company beginning January 1, 2020. The Company is currently evaluating the impact of adopting this standard. During January 2017, the FASB issued ASU 2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment , which simplifies the accounting for goodwill impairment. This ASU removes Step 2 of the goodwill impairment test, which requires hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The new guidance also requires disclosure of the amount of goodwill at reporting units with zero or negative carrying amounts. ASU 2017-04 is effective for the Company beginning January 1, 2020. Early adoption is permitted for any impairment tests performed after January 1, 2017. The Company is currently evaluating the impact of adopting such standard. During May 2017, the FASB issued ASU 2017-09, Compensation — Stock Compensation (Topic 718) : Scope of Modification Accounting. This standard provides clarification on when modification accounting should be used for changes to the terms or conditions of a share-based payment award. This standard does not change the accounting for modifications but clarifies that modification accounting guidance should only be applied if there is a change to the value, vesting conditions, or award classification and would not be required if the changes are considered non-substantive. The amendments in this ASU are effective for the Company effective beginning January 1, 2018, with early adoption permitted. This ASU should be applied prospectively on and after the effective date. The Company is currently evaluating the impact of adopting this standard.

Fair Value Of Financial Instrum

Fair Value Of Financial Instruments	9 Months Ended
	Sep. 30, 2017
Fair Value Of Financial Instruments [Abstract]
Fair Value Of Financial Instruments	3. Fair Value of Financial Instruments The authoritative guidance with respect to fair value established a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels, and requires that assets and liabilities carried at fair value be classified and disclosed in one of three categories, as presented below. Level 1 - Observable inputs such as quoted prices in active markets for an identical asset or liability that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active-exchange traded securities and exchange-based derivatives. Level 2 - Inputs, other than quoted prices included within Level 1, which are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange based derivatives, mutual funds, and fair-value hedges. Level 3 - Unobservable inputs in which there is little or no market data for the asset or liability which requires the reporting entity to develop its own assumptions. Financial assets and liabilities utilizing Level 3 inputs include infrequently-traded, non- exchange -based derivatives and commingled investment funds, and are measured using present value pricing models. The Company determines the level in the fair value hierarchy within which each fair value measurement falls in its entirety, based on the lowest level input that is significant to the fair value measurement in its entirety. In determining the appropriate levels, the Company performs an analysis of the assets and liabilities at each reporting period end. The Company classifies its Level 2 instruments based on market pricing and other observable inputs. The Company did not classify any of its investments within Level 3 of the fair value hierarchy. The following table sets forth the fair value of the Company’s financial assets measured on a recurring basis as of September 30 , 2017 and December 31, 2016, respectively (in thousands):    September 30, 2017 December 31, 2016  Assets Classification Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total  Money market funds Cash and cash equivalents $ 32,030 $ — $ — $ 32,030 $ 1,726 $ — $ — $ 1,726  Commercial paper Investments — 3,339 — 3,339 — — — —  Corporate bonds Investments — 5,779 — 5,779 — 13,289 — 13,289  Asset-backed security Investments — 500 — 500 — 1,017 — 1,017  Total assets measured at fair value $ 32,030 $ 9,618 $ — $ 41,648 $ 1,726 $ 14,306 $ — $ 16,032  The Company did not have any financial liabilities measured on a recurring basis as of September 30 , 2017 or December 31, 2016. During the nine -month period ended September 30 , 2017, there were no transfers between Level 1, Level 2 or Level 3 assets or liabilities reported at fair value on a recurring basis and the valuation techniques used did not change compared to the Company’s established practice.

Property And Equipment, Net

Property And Equipment, Net	9 Months Ended
	Sep. 30, 2017
Property And Equipment, Net [Abstract]
Property And Equipment, Net	4 . Property and Equipment , Net Property and e quipment , net consisted of the following (in thousands):     September 30, December 31,  2017 2016  Leasehold improvements $ 2,228 $ —  Laboratory equipment 486 425  Software 31 20  Furniture, fixtures, and equipment 221 17  2,966 462  Less: Accumulated depreciation (331) (145)  $ 2,635 $ 317  During June 2017, the Company prepared to move into new office space in Hayward, California, and its landlo rd provided $2.1 million for leasehold improvements pursuant to the tenant allowance clause in the lease agreement between the Company and its landlord which has been capitalized and amortized over the shorter of the lease term or estimated useful life.  Depreciation and amortization expense was $ 147,000 and $25,000 for the three-month periods ended September 30, 2017 and 2016, respectively. Depreciation and amortization expense was $196,000 and $70,000 for the nine-month periods ended September 30, 2017 and 2016, respectively.

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
	Sep. 30, 2017
Intangible Assets, Net [Abstract]
Intangible Assets, Net	5 . Intangible Assets , Net Intangible assets , net consisted of the following (in thousands):      September 30, December 31,  2017 2016  Acquired patents and licenses $ 7,985 $ 7,985  Less: Accumulated amortization (1,941) (1,442)  $ 6,044 $ 6,543

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2017
Accrued Expenses [Abstract]
Accrued Expenses	6 . Accrued Expenses Accrued expenses consisted of the following (in thousands):     September 30, December 31,  2017 2016  Professional fees $ 254 $ 285  Compensation expense 538 261  Financing costs 101 —  Clinical trials 45 —  Other 230 205  $ 1,168 $ 751

Stockholders' Equity And Stock-

Stockholders' Equity And Stock-Based Compensation	9 Months Ended
	Sep. 30, 2017
Stockholders' Equity And Stock-Based Compensation [Abstract]
Stockholders' Equity And Stock-Based Compensation	7. Stockholders’ Equity and Stock-Based Compensation  Private Placements On February 7, 2017, the Company entered into a securities purchase agreement with Robert W. Duggan and Maky Zanganeh (the “Investors”), pursuant to which the Company, in a private placement, issued and sold to the Investors an aggregate of 819,673 shares of the Company’s common stock, par value $0.001 per share, at a price per share of $6.10 , for net proceeds of approximately $4,965,000 . On September 24, 2017, the Company entered into a securities purchase agreement with Robert W. Duggan, pursuant to which the Company, in a private placement, issued and sold to Robert W. Duggan an aggregate of 2,000,000 shares of the Company’s common stock, par value $0.001 per share, at a price per share of $15.02 , for net proceeds of approximately $29,876,000 . In connection with this private placement, the Company granted certain registration rights to Robert W. Duggan, pursuant to which, among other things, the Company is obligated to prepare and file with the Securities and Exchange Commission a registration statement to register for resale of these shares no earlier than January 2, 2018. Warrants During the nine-months ended September 30, 2017, warrants to purchase 169,489 shares of common stock were either cash or net exercised, resulting in the issuance of approximately 136,552 shares of common stock. As of September 30, 2017, 705,121 warrants remained outstanding. Equity Plans 2017 Equity Incentive Plan The Board of Directors (the “Board”) of the Company previously adopted, subject to stockholder approval, the Company’s 2017 Equity Incentive Plan (the “2017 Plan”). The Company’s stockholders approved the 2017 Plan at the annual meeting of stockholders held on May 16, 2017 (the “Annual Meeting”). The 2017 Plan has a 10 -year term, and provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, and performance shares to employees, directors and consultants of the Company and any parent or subsidiary of the Company, as the Compensation Committee of the Board of Directors may determine. Subject to an annual evergreen increase and adjustment in the case of certain capitalization events, 1,500,000 shares of the Company’s common stock are authorized for issuance pursuant to awards under the 2017 Plan. In addition, shares remaining available under the Company’s 2015 Equity Incentive Plan, as amended (the “2015 Plan”), and shares reserved but not issued pursuant to outstanding equity awards that expire or terminate without being exercised or that are forfeited or repurchased by the Company will be added to the shares of common stock available for issuance under the 2017 Plan. The 2017 Plan is administered by the Board’s Compensation Committee.  2017 Employee Stock Purchase Plan The Board of the Company previously adopted, subject to stockholder approval, the Company’s 2017 Employee Stock Purchase Plan (the “2017 ESPP”). At the Annual Meeting, the stockholders approved the 2017 ESPP. The 2017 ESPP is a broad-based plan that provides employees of the Company and its designated affiliates with the opportunity to become stockholders through periodic payroll deductions that are applied towards the purchase of Company common shares at a discount from the then-current market price. Subject to adjustment in the case of certain capitalization events, a total of 250,000 common shares of the Company are available for purchase under the 2017 ESPP. As of September 30, 2017, the Company had three active equity compensation plans, the outstanding shares under the 2015 Plan, the 2017 Plan and the 2017 ESPP. The following table summarizes stock option activity for the 2015 Plan and the 2017 Plan for the nine-month period ended September 30, 2017 (in thousands, except per share amounts):     Stock Options Outstanding  Weighted Weighted average  Number average remaining life  of shares exercise price (in years)  Balances — December 31, 2016 1,229 $ 3.82 7.6  Options granted 1,180 26.36  Options exercised (70) 3.16  Options canceled (12) 4.13  Options expired — —  Balances — September 30, 2017 2,327 $ 15.27 8.4  Exercisable 721  The Company did not issue any common stock under the 2017 ESPP during the nine-month period ended September 30, 2017.  Stock-based Compensation Total stock-based compensation expense consisted of the following (in thousands):      Three-Month Periods Ended Nine-Month Periods Ended  September 30, September 30,  2017 2016 2017 2016  General and administrative $ 2,778 $ 183 $ 5,287 $ 478  Research and development 572 55 1,116 149  Total stock-based compensation expense $ 3,350 $ 238 $ 6,403 $ 627  The Company estimated the fair value of employee stock options on the grant date using the Black-Scholes option pricing model . The estimated fair value of employee stock options is amortized on a straight-line basis over the requisite service period of the awards. The Company reviews, and when deemed appropriate, updates the assumptions used on a periodic basis. Due to the limited trading history of the Company’s common stock, the Company utilizes a portfolio of comparable companies to estimate volatility. The fair value of employee stock options was estimated using the following weighted-average assumptions:     Three-Month Periods Ended September 30, Nine-Month Periods Ended September 30,  2017 2016 2017 2016  Expected term in years 6.1 6.1 5.3 - 6.1 6.1  Expected volatility 80% 80% 80% 80%  Risk-free interest rate 1.8% 1.2% 1.8 - 2.1% 1.3%  Dividend yield — — — —  The Company granted stock options to a non-employee during the nine-month period ended September 30, 2017. The Company uses the Black-Scholes option-pricing model to estimate the fair value of awards granted to nonemployees. The measurement of stock-based compensation for nonemployees is subject to periodic adjustments as the underlying equity instruments vest, and the resulting change in value, if any, is recognized in the Company’s consolidated statements of operations during the period the related services are rendered. The fair value of a nonemployee stock option during the nine-month period ended September 30, 2017 was estimated using the following assumptions: expected term: 9.4 years; expected volatility: 80% ; risk-free interest rate: 2.3% ; and dividend yield: none . The Company did not grant any stock options to non-employees during the three-month period ended September 30, 2017.  The Company estimated the fair value of ESPP on the grant date using the Black-Scholes option pricing model . The estimated fair value of ESPP is amortized on a straight-line basis over the requisite service period of the awards. The Company reviews, and when deemed appropriate, updates the assumptions used on a periodic basis. T he Company utilizes its own volatility in the Black-Scholes option pricing model to determine the fair value of ESPP . The fair value of ESPP was estimated using the following weighted-average assumptions:     Three-Month Periods Ended September 30, Nine-Month Periods Ended September 30,  2017 2016 2017 2016  Expected term in years 0.5 - 1.0 N/A 0.8 - 1.3 N/A  Expected volatility 95% N/A 95% N/A  Risk-free interest rate 1.1 - 1.2% N/A 1.1 - 1.2% N/A  Dividend yield — N/A — N/A    The fair value of restricted stock unit (“RSUs”) awards is determined based on the number of units granted and the closing price of the Company’s common stock as of the grant date. The estimated fair value of RSUs is recognized on a straight-line basis over the requisite service period. During June 2017, the Company granted 160,974 RSUs to an officer, with a cliff vest in June 2018 . The stock-based compensation expense related to these RSUs was approximately $1,275,000 and $1,607,000 for the three-month and nine-month periods ended September 30, 2017, respectively.  During the three-month period ended September 30, 2017, the Company granted 68,800 RSUs to certain employees which vest 50% on June 1, 2019 with the remaining 50% vesting on June 1, 2021 . In the event of a change in control, these RSUs vest 100% . The stock-based compensation expense related to these RSUs was approximately $34,000 for both the three-month and nine-month periods ended September 30, 2017.

Research Grants And Agreements

Research Grants And Agreements	9 Months Ended
	Sep. 30, 2017
Research Grants And Agreements [Abstract]
Research Grants And Agreements	8 . Research Grants and Agreements Sponsored Research Agreement The Company entered into a Sponsored Research Agreement (“SRA”) with the Old Dominion University Research Foundation (“ODURF”) during 2014 pursuant to which the Company sponsors research activities performed by ODURF’s Frank Reidy Center. ODURF is compensated by the Company for its conduct of each study in accordance with the budget and payment terms set forth in the applicable task order. During the second quarters of 2017 and 2016, the Company agreed to sponsor $740,000 and $1.0 million, respectively, in research during the subsequent 12 -month period to be funded through monthly payments made upon ODURF certifying, to the Company’s reasonable satisfaction, that ODURF has met its obligations pursuant to the specified task order and statement of work. The principal investigator may transfer funds with the budget as needed without the Company’s approval so long as the obligations of ODURF under the task order and statement of work remain unchanged and unimpaired. In addition, during 2017, the Company agreed to provide $300,000 in research funding to researchers affiliated with ODURF and Eastern Virginia Medical School matching funds made available to those researchers by the Virginia Biosciences Health Research Corporation. The Company’s sponsorship affords access to certain intellectual property, if any, developed during the project. As of September 30, 2017, there was approximately $ 150,000 remaining available under this sponsorship. During the three-month periods ended September 30, 2017 and 2016, the Company paid and incurred costs relating to the SRA equal to $ 260,000 and $250,000 , respectively. During the nine-month periods ended September 30, 2017 and 2016, the Company paid and incurred costs relating to the SRA equal to $585,000 a nd $664,000 , respectively.

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments And Contingencies [Abstract]
Commitments And Contingencies	9 . Commitments and Contingencies Operating Lease s The Company lease d approximately 4,300 square feet of corporate offices and research facilities in Burlingame, California , at a monthly cost of approximately $21,000 . This lease expire d o n June 30, 2017 . During January 2017, the Company entered into a new lease agreement (the “Lease”) for premises consisting of approximately 15,700 rentable square feet located in Hayward, California (the “Premises” ). The Company moved into the Premises in July 2017. The Premises is being used for the Company’s corporate headquarters and principal operating facility. The term of the Lease is sixty-two ( 62 ) months, which commenced on July 1, 2017. Base rent was abated for the first two (2) months of the Lease term and thereafter is $42,400 per month during the first year of the Lease term, with specified annual increases thereafter until reaching approximately $50,300 per month during the last two (2) months of the Lease term. The Company paid a refundable security deposit of approx imately $101,000 and i s required to reimburse the landlord for certain expenses during the Lease term. The landlord provided the Company with improvement allowances in the amount of approximately $135.00 per rentable square foot of the Premises that were applied towards the costs of construction of the initial improvements in the Premises. The Company remains responsible for any improvement costs in excess of the foregoing allowances. During the nine-month period ended September 30, 2017, the landlord incurred approximately $2.1 million related to the initial tenant leasehold improvements and the Company capitalized these leasehold improvements to property and equipment and a corresponding deferred rent liability on its balance sheet. The Company has the right to extend the Lease term by five ( 5 ) years upon written notice not more than twelve ( 12 ) months nor less than nine ( 9 ) months prior to the expiration of the original Lease term, with monthly payments equal to the “Fair Rental Value” as defined in the Lease. As of December 31, 2016, the lease obligations for less than one year, one to three years, three to five years and more than five years is approximately $0.3 million, $1.1 million, $1.1 million and $0.3 million, respectively. During the three-month periods ended September 30, 2017 and 2016, rent expense, including common area maintenance charges, was approximately $10 1 ,000 and $56,000 , respectively. During the nine-month periods ended September 30, 2017 and 2016, rent expense, including common area maintenance charges, was approximately $ 239 ,000 and $155,000 , respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	10. Related Party Transactions MDB Capital Group, LLC (“MDB”) provided investment banking, executive recruiting and intellectual property management services to the Company. The Company’s former Chairman of the Board , Robert Levande, wa s a Senior Managing Director of MDB throughout his tenure on the Company’s Board of Directors . During the three-month and nine-month periods ended September 30, 2016, the Company incurred $0 and $100,000 , respectively, for services rendered by MDB with respect to intellectual property management . In connection with the initial public offering during May 2016, the underwriting syndicate led by MDB received $1,800,000 in underwriting discounts, $160,000 in unaccountable expense reimbursement and warrants valued in aggregate of $1,443,000 . During September 2017, the Company entered into a securities purchase agreement with Robert W. Duggan, a significant stockholder of the Company and Chairman of the Board effective November 2, 2017, pursuant to which the Company issued and sold to Robert W. Duggan an aggregate of 2,000,000 shares of the Company’s common stock, par value $0.001 per share, at a price per share of $15.02 . At the time of the transaction, Mr. Duggan owned approximately 27% of the Company’s then outstanding securities and approximately 36% upon completion of the transaction. On November 2, 2017, the Company appointed Ken Clark to the Board of Directors. Mr. Clark is a member of the law firm of Wilson Sonsini Goodrich and Rosati (“WSGR”), which is also outside corporate counsel to the Company. During the three-month and nine-month periods ended September 30, 2017, the Company incurred expenses for legal services rendered by WSGR totaling approximately $233,000 and $525,000 , respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events On November 2, 2017, the Company’s board of directors accepted the resignations of Robert J. Greenberg, M.D., Ph.D., Robert M. Levande, Mitchell E. Levinson and Thierry B. Thaure as directors, including the resignation of Mr. Levande as Chairman of the Board and the resignations of Dr. Greenberg, Mr. Levinson and Mr. Thaure from the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee of the Board. In connection with their resignations, Dr. Greenberg, Mr. Levande, Mr. Levinson and Mr. Thaure will each receive a lump sum cash stipend equivalent to their annual retainer, prorated for the remainder of their respective term, and all equity awards held by each individual were fully vested. On November 2, 2017, the Company’s board of directors elected Kenneth A. Clark, Robert W. Duggan, Thomas J. Fogarty, M.D. and Manmeet S. Soni as directors. Mr. Clark, Mr. Duggan, Dr. Fogarty and Mr. Soni will serve until their respective terms expire at the annual meeting of stockholders to be held in 2018 and until their successors are duly elected and qualified or until their earlier death, resignation or removal. In addition, to fill in the vacancies created by the departures of Dr. Greenberg, Mr. Levande, Levinson and Mr. Thaure, the Company’s board of directors appointed (i) Mr. Duggan to serve as Chairman of the Board; (ii) Dr. Fogarty, Mr. Soni and Maky Zanganeh to serve as members of the Audit Committee, with Mr. Soni serving as Chair of the Audit Committee; (iii) Mr. Soni and Dr. Zanganeh to serve as members of the Compensation Committee, with Dr. Zanganeh serving as Chair of the Compensation Committee; and (iv) Mr. Clark, Mr. Duggan and Dr. Fogarty to serve as members of the Nominating and Corporate Governance Committee, with Mr. Clark serving as Chair of the Nominating and Corporate Governance Committee.

Summary Of Significant Accoun17

Summary Of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Summary Of Significant Accounting Policies [Abstract]
Basis Of Presentation	Basis of Presentation In the opinion of the Company’s management, the accompanying unaudited Condensed Consolidated Financial Statements (“Financial Statements”) have been prepared on a consistent basis with the Company’s December 31, 2016 audited Consolidated Financial Statements and include all adjustments, consisting of only normal recurring adjustments, necessary to fairly state the information set forth herein. The Financial Statements have been prepared in accordance with the applicable rules and regulations of the Securities and Exchange Commission and, as permitted by such rules and regulations, omit certain information and footnote disclosures necessary to present the financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The condensed consolidated balance sheet as of December 31, 2016 was derived from the audited consolidated financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for completed financial statements. These Financial Statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2016 included in the Company’s Annual Report on Form 10-K, filed on March 20, 2017 . The results of operations for the three-month and nine-month period s ended September 30 , 2017 are not necessarily indicative of the results to be expected for the entire year or any future periods.
Use Of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the Financial Statements and accompanying notes to the Financial Statements. Estimates include, but are not limited to, the valuation of cash equivalents and investments, the valuation and recognition of share-based compensation and the useful lives assigned to long-lived assets. Actual results could differ materially from these estimates.
Significant Accounting Policies	Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies during the nine -month period ended September 30 , 2017, as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 .
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the financial statements of Pulse and its wholly-owned subsidiaries. Intercompany balances and transactions, if any, have been eliminated in consolidation.
Net Loss Per Share	Net Loss per Share The Company’s basic net loss per share is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period. Diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock and common stock warrants are considered common stock equivalents. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted net loss per share. Basic and diluted net loss per common share is the same for all periods presented because all warrants , stock options and restricted stock units outstanding are anti-dilutive. The following outstanding stock options , warrants and restricted stock units were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:      Nine-Month Periods Ended  September 30,  2017 2016  Common stock warrants 705,121 874,610  Common stock options 2,326,676 1,254,790  Restricted stock units 229,774 —  Total 3,261,571 2,129,400    
Reclassification	Reclassification Certain items in the prior period financial statements have been reclassified to conform to the presentation in the current period financial statements.
Recent Accounting Standards	Recent Accounting Pronouncements Recently Adopted Accounting Standards During March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-based Payment Accounting . This ASU simplifies the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU requires that excess tax benefits and deficiencies be recognized as income tax benefit or expense in the income statement. The Company adopted this ASU as of January 1, 2017. The adoption of this ASU did not have a significant impact on the Company’s financial position. Recently Issued Accounting Standards During May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers , requiring an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers . This updated standard will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. In August 2015, the FASB issued an update to defer the effective date of this update to periods beginning after December 15, 2017 . This updated standard becomes effective for the Company in the first quarter of fiscal year 2018 . The Company expects to adopt this standard upon commencing revenue generating activities. Since the Company has not recognized or generated revenue to date, it does not expect the adoption of this pronouncement on January 1, 2018 to have any impact to its financial statements. During February 2016, the FASB issued ASU No. 2016-02, Leases , which amends the existing accounting standards for leases. The new standard requires lessees to record a right-of-use asset and a corresponding lease liability on the balance sheet (with the exception of short-term leases). For lessees, leases will continue to be classified as either operating or financing in the income statement. This ASU becomes effective for the Company in the first quarter of fiscal year 2019 and early adoption is permitted. This ASU is required to be applied with a modified retrospective approach and requires application of the new standard at the beginning of the earliest comparative period presented. The Company generally does not finance purchases of equipment or other capital, but does lease its facilities. While the Company is continuing to assess all potential impacts of this standard, it expects that most of its lease commitments will be subject to the updated standard and recognized as lease liabilities and right-of-use assets upon adoption. During June 2016, the FASB issued ASU 2016-13, Financial Instruments — Measurement of Credit Losses on Financial Instruments , which requires measurement and recognition of expected credit losses for financial assets held. ASU 2016-13 is effective for the Company beginning January 1, 2020. The Company is currently evaluating the impact of adopting this standard. During January 2017, the FASB issued ASU 2017-04, Intangibles — Goodwill and Other (Topic 350): Simplifying the Accounting for Goodwill Impairment , which simplifies the accounting for goodwill impairment. This ASU removes Step 2 of the goodwill impairment test, which requires hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The new guidance also requires disclosure of the amount of goodwill at reporting units with zero or negative carrying amounts. ASU 2017-04 is effective for the Company beginning January 1, 2020. Early adoption is permitted for any impairment tests performed after January 1, 2017. The Company is currently evaluating the impact of adopting such standard. During May 2017, the FASB issued ASU 2017-09, Compensation

Summary Of Significant Accoun18

Summary Of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Summary Of Significant Accounting Policies [Abstract]
Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share	   Nine-Month Periods Ended  September 30,  2017 2016  Common stock warrants 705,121 874,610  Common stock options 2,326,676 1,254,790  Restricted stock units 229,774 —  Total 3,261,571 2,129,400  

Fair Value Of Financial Instr19

Fair Value Of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Of Financial Instruments [Abstract]
Fair Value Of Financial Assets Measured On A Recurring Basis	  September 30, 2017 December 31, 2016  Assets Classification Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total  Money market funds Cash and cash equivalents $ 32,030 $ — $ — $ 32,030 $ 1,726 $ — $ — $ 1,726  Commercial paper Investments — 3,339 — 3,339 — — — —  Corporate bonds Investments — 5,779 — 5,779 — 13,289 — 13,289  Asset-backed security Investments — 500 — 500 — 1,017 — 1,017  Total assets measured at fair value $ 32,030 $ 9,618 $ — $ 41,648 $ 1,726 $ 14,306 $ — $ 16,032 

Property And Equipment, Net (Ta

Property And Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2017
Property And Equipment, Net [Abstract]
Schedule Of Property And Equipment, Net	   September 30, December 31,  2017 2016  Leasehold improvements $ 2,228 $ —  Laboratory equipment 486 425  Software 31 20  Furniture, fixtures, and equipment 221 17  2,966 462  Less: Accumulated depreciation (331) (145)  $ 2,635 $ 317 

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2017
Intangible Assets, Net [Abstract]
Schedule Of Intangible Assets, Net	   September 30, December 31,  2017 2016  Acquired patents and licenses $ 7,985 $ 7,985  Less: Accumulated amortization (1,941) (1,442)  $ 6,044 $ 6,543 

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2017
Accrued Expenses [Abstract]
Schedule Of Accrued Expenses	   September 30, December 31,  2017 2016  Professional fees $ 254 $ 285  Compensation expense 538 261  Financing costs 101 —  Clinical trials 45 —  Other 230 205  $ 1,168 $ 751 

Stockholders' Equity And Stoc23

Stockholders' Equity And Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Summary Of Stock Option Activity	  Stock Options Outstanding  Weighted Weighted average  Number average remaining life  of shares exercise price (in years)  Balances — December 31, 2016 1,229 $ 3.82 7.6  Options granted 1,180 26.36  Options exercised (70) 3.16  Options canceled (12) 4.13  Options expired — —  Balances — September 30, 2017 2,327 $ 15.27 8.4  Exercisable 721 
Total Stock-Based Compensation Expense	   Three-Month Periods Ended Nine-Month Periods Ended  September 30, September 30,  2017 2016 2017 2016  General and administrative $ 2,778 $ 183 $ 5,287 $ 478  Research and development 572 55 1,116 149  Total stock-based compensation expense $ 3,350 $ 238 $ 6,403 $ 627 
Schedule Of Fair Value Of Employee Stock Options	  Three-Month Periods Ended September 30, Nine-Month Periods Ended September 30,  2017 2016 2017 2016  Expected term in years 6.1 6.1 5.3 - 6.1 6.1  Expected volatility 80% 80% 80% 80%  Risk-free interest rate 1.8% 1.2% 1.8 - 2.1% 1.3%  Dividend yield — — — — 
2017 Employee Stock Purchase Plan [Member]
Schedule Of Fair Value Of Employee Stock Options	  Three-Month Periods Ended September 30, Nine-Month Periods Ended September 30,  2017 2016 2017 2016  Expected term in years 0.5 - 1.0 N/A 0.8 - 1.3 N/A  Expected volatility 95% N/A 95% N/A  Risk-free interest rate 1.1 - 1.2% N/A 1.1 - 1.2% N/A  Dividend yield — N/A — N/A 

Description Of The Business (Na

Description Of The Business (Narrative) (Details)	9 Months Ended
	Sep. 30, 2017
Description Of The Business [Abstract]
Incorporation state	Nevada
Incorporation date	May 19, 2014

Summary Of Significant Accoun25

Summary Of Significant Accounting Policies (Anti-Dilutive Shares Excluded From Computation Of Diluted Net Loss Per Share) (Details) - shares	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	3,261,571	2,129,400
Common Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	705,121	874,610
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	2,326,676	1,254,790
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	229,774

Fair Value Of Financial Instr26

Fair Value Of Financial Instruments (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value Of Financial Instruments [Abstract]
Total liabilities measured at fair value	$ 0	$ 0
Transfers between level 1, 2, or 3	$ 0

Fair Value Of Financial Instr27

Fair Value Of Financial Instruments (Fair Value Of Financial Assets Measured On A Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Total assets measured at fair value	$ 41,648	$ 16,032
Cash And Cash Equivalents [Member] | Money Market Funds [Member]
ASSETS
Total cash and cash equivalents	32,030	1,726
Investments [Member] | Commercial Paper [Member]
ASSETS
Total investments	3,339
Investments [Member] | Corporate Bonds [Member]
ASSETS
Total investments	5,779	13,289
Investments [Member] | Asset-Backed Securities [Member]
ASSETS
Total investments	500	1,017
Level 1 [Member]
ASSETS
Total assets measured at fair value	32,030	1,726
Level 1 [Member] | Cash And Cash Equivalents [Member] | Money Market Funds [Member]
ASSETS
Total cash and cash equivalents	32,030	1,726
Level 2 [Member]
ASSETS
Total assets measured at fair value	9,618	14,306
Level 2 [Member] | Investments [Member] | Commercial Paper [Member]
ASSETS
Total investments	3,339
Level 2 [Member] | Investments [Member] | Corporate Bonds [Member]
ASSETS
Total investments	5,779	13,289
Level 2 [Member] | Investments [Member] | Asset-Backed Securities [Member]
ASSETS
Total investments	$ 500	$ 1,017

Property And Equipment, Net (Na

Property And Equipment, Net (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Property And Equipment, Net [Abstract]
Landlord reimbursement of leasehold improvements	$ 2,100
Depreciation expense		$ 147	$ 25	$ 196	$ 70

Property And Equipment, Net (Sc

Property And Equipment, Net (Schedule Of Property And Equipment, Net) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Equipment, gross	$ 2,966	$ 462
Less: Accumulated depreciation	(331)	(145)
Equipment, net	2,635	317
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	2,228
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	486	425
Software [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	31	20
Furniture, Fixtures, And Equipment [Member]
Property, Plant and Equipment [Line Items]
Equipment, gross	$ 221	$ 17

Intangible Assets, Net (Schedul

Intangible Assets, Net (Schedule Of Intangible Assets, Net) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Less: Accumulated amortization	$ (1,941)	$ (1,442)
Intangible assets, net	6,044	6,543
Acquired Patents And Licenses [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 7,985	$ 7,985

Accrued Expenses (Schedule Of A

Accrued Expenses (Schedule Of Accrued Expenses) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accrued Expenses [Abstract]
Professional fees	$ 254	$ 285
Compensation expense	538	261
Clinical trials	101
Financing costs	45
Other	230	205
Accrued expenses	$ 1,168	$ 751

Stockholders' Equity And Stoc32

Stockholders' Equity And Stock-Based Compensation (Narrative) (Details)	Sep. 24, 2017USD ($)$ / sharesshares	Feb. 07, 2017USD ($)$ / sharesshares	Jun. 30, 2017shares	Sep. 30, 2017USD ($)item$ / sharesshares	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)item$ / sharesshares	Sep. 30, 2016USD ($)	Dec. 31, 2016$ / shares	May 31, 2016USD ($)
Stockholders' Equity [Line Items]
Common stock, par value | $ / shares				$ 0.001		$ 0.001		$ 0.001
Proceeds from issuance of common stock | $						$ 34,944,000	$ 20,915,000
Share of common stock to purchase either cash or net exercised						169,489
Warrants outstanding				705,121		705,121
Number of equity compensation plans | item				3		3
Stock-based compensation expense | $				$ 3,350,000	$ 238,000	$ 6,403,000	627,000
2017 Equity Incentive Plan [Member]
Stockholders' Equity [Line Items]
Term period						10 years
General And Administrative [Member]
Stockholders' Equity [Line Items]
Stock-based compensation expense | $				2,778,000	183,000	$ 5,287,000	478,000
Research And Development [Member]
Stockholders' Equity [Line Items]
Stock-based compensation expense | $				$ 572,000	$ 55,000	$ 1,116,000	$ 149,000
Stock Options [Member]
Stockholders' Equity [Line Items]
Expected term						9 years 4 months 24 days
Expected volatility						80.00%
Risk-free interest rate						2.30%
Dividend yield						0.00%
Stock Options [Member] | Non Employees [Member]
Stockholders' Equity [Line Items]
Shares granted				0		0
Restricted Stock Units [Member]
Stockholders' Equity [Line Items]
Shares granted				68,800		68,800
Stock-based compensation expense | $				$ 34,000		$ 34,000
Restricted Stock Units [Member] | First Vesting Portion [Member]
Stockholders' Equity [Line Items]
Vesting percentage				50.00%
Cliff vest date				Jun. 1, 2019
Restricted Stock Units [Member] | Second Vesting Portion [Member]
Stockholders' Equity [Line Items]
Vesting percentage				50.00%
Cliff vest date				Jun. 1, 2021
Restricted Stock Units [Member] | Change In Control [Member]
Stockholders' Equity [Line Items]
Vesting percentage				100.00%
Officer [Member]
Stockholders' Equity [Line Items]
Cliff vest date			Jun. 30, 2018
Officer [Member] | Restricted Stock Units [Member]
Stockholders' Equity [Line Items]
Shares granted			160,974
Stock-based compensation expense | $				$ 1,275,000		$ 1,607,000
Common Stock [Member]
Stockholders' Equity [Line Items]
Shares issued						136,552
Common Stock [Member] | 2017 Equity Incentive Plan [Member]
Stockholders' Equity [Line Items]
Shares authorized				1,500,000		1,500,000
Common Stock [Member] | 2017 Employee Stock Purchase Plan [Member]
Stockholders' Equity [Line Items]
Shares authorized				250,000		250,000
Shares granted				0		0
Common Stock [Member] | Private Placement [Member]
Stockholders' Equity [Line Items]
Shares sold	2,000,000	819,673
Common stock, par value | $ / shares	$ 0.001	$ 0.001
Price per share | $ / shares	$ 15.02	$ 6.10
Net proceeds | $	$ 29,876,000	$ 4,965,000
MDB Capital Group, LLC [Member] | Initial Public Offering [Member]
Stockholders' Equity [Line Items]
Value of warrants | $									$ 1,443,000

Stockholders' Equity And Stoc33

Stockholders' Equity And Stock-Based Compensation (Summary Of Stock Option Activity) (Details) - Stock Options [Member] - $ / shares shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Beginning Balance, Number of shares	1,229
Options granted, Number of shares	1,180
Options exercised, Number of shares	(70)
Options canceled, Number of shares	(12)
Options expired, Number of shares
Ending Balance, Number of shares	2,327	1,229
Exercisable, Number of shares	721
Beginning Balance, Weighted average exercise price per share	$ 3.82
Options granted, Weighted average exercise price per share	26.36
Options exercised, Weighted average exercise price per share	3.16
Options canceled, Weighted average exercise price per share	4.13
Options expired, Weighted average exercise price per share
Ending Balance, Weighted average exercise price per share	$ 15.27	$ 3.82
Weighted average remaining life	8 years 4 months 24 days	7 years 7 months 6 days

Stockholders' Equity And Stoc34

Stockholders' Equity And Stock-Based Compensation (Total Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Total stock-based compensation expense	$ 3,350	$ 238	$ 6,403	$ 627
General And Administrative [Member]
Total stock-based compensation expense	2,778	183	5,287	478
Research And Development [Member]
Total stock-based compensation expense	$ 572	$ 55	$ 1,116	$ 149

Stockholders' Equity And Stoc35

Stockholders' Equity And Stock-Based Compensation (Schedule Of Fair Value Of Employee Stock Options) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	6 years 1 month 6 days	6 years 1 month 6 days		6 years 1 month 6 days
Expected volatility	80.00%	80.00%	80.00%	80.00%
Risk-free interest rate	1.80%	1.20%		1.30%
Dividend yield
Stock Options [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years			5 years 3 months 18 days
Risk-free interest rate			1.80%
Stock Options [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years			6 years 1 month 6 days
Risk-free interest rate			2.10%
2017 Employee Stock Purchase Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	95.00%		95.00%
Dividend yield
2017 Employee Stock Purchase Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	6 months		9 months 18 days
Risk-free interest rate	1.10%		1.10%
2017 Employee Stock Purchase Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term in years	1 year		1 year 3 months 18 days
Risk-free interest rate	1.20%		1.20%

Research Grants And Agreements

Research Grants And Agreements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense	$ 3,200	$ 1,739	$ 7,333	$ 4,182
Sponsored Research Agreement ("SRA") [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense	260	250	$ 585	$ 664
ODURF [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Period of time for Sponsored Research Agreement ("SRA")			12 months
ODURF [Member] | Sponsored Research Agreement ("SRA") [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense	740	$ 1,000
Remaining sponsorship	$ 150		$ 150
ODURF And Eastern Virginia Medical School [Member] | Sponsored Research Agreement ("SRA") [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Research and development expense			$ 300

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details)	1 Months Ended		3 Months Ended		9 Months Ended
	Jul. 31, 2017	Jan. 31, 2017USD ($)ft²$ / ft²	Sep. 30, 2017USD ($)ft²shares	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)ft²shares	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Commitments and Contingencies [Line Items]
Warrants outstanding | shares			705,121		705,121
Lease expiration date					Jun. 30, 2017
Operating lease, monthly expense					$ 21,000
Area Of Lease | ft²		15,700	4,300		4,300
Lease term		62 months
Period of base rent abatement	2 months
Security deposit			$ 101,000		$ 101,000
Lease renewable term		5 years
Lease obligations, less than one year							$ 300,000
Lease obligations, one to three years							1,100,000
Lease obligations,three to five years							1,100,000
Lease obligations, more than five years							$ 300,000
Rent expense, including common area maintenance charges			$ 101,000	$ 56,000	$ 239,000	$ 155,000
Maximum [Member]
Commitments and Contingencies [Line Items]
Written notice period for right to extend lease term					12 months
Minimum [Member]
Commitments and Contingencies [Line Items]
Written notice period for right to extend lease term					9 months
Tier One Rent Expense First Two Months Of Lease Term [Member]
Commitments and Contingencies [Line Items]
Operating lease, monthly expense		$ 42,400
Tier Two Rent Expense [Member]
Commitments and Contingencies [Line Items]
Operating lease, monthly expense		$ 50,300
Landlord [Member]
Commitments and Contingencies [Line Items]
Landlord obligatory improvement allowance per rentable square foot | $ / ft²		135
Initial tenant leashold improvements					$ 2,100,000

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Nov. 02, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Common stock, shares issued		16,341,000		16,341,000			13,315,000
Common stock, par value		$ 0.001		$ 0.001			$ 0.001
MDB Capital Group, LLC [Member]
Related Party Transaction [Line Items]
Related party expenses			$ 0		$ 100
MDB Capital Group, LLC [Member] | Initial Public Offering [Member]
Related Party Transaction [Line Items]
Underwriting discounts	$ 1,800
Unaccountable expense reimbursement	160
Value of warrants	$ 1,443
Robert W. Duggan [Member] | Board of Directors Chairman [Member]
Related Party Transaction [Line Items]
Common stock, shares issued		2,000,000		2,000,000
Common stock, par value		$ 0.001		$ 0.001
Price per share		$ 15.02		$ 15.02
Ownership percentage of outstanding securities		27.00%		27.00%
Wilson Sonsini Goodrich And Rosati (WSGR) [Member]
Related Party Transaction [Line Items]
Related party expenses		$ 233		$ 525
Subsequent Event [Member] | Robert W. Duggan [Member] | Board of Directors Chairman [Member]
Related Party Transaction [Line Items]
Ownership percentage of outstanding securities						36.00%