Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2020 | May 04, 2020 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2020 | |
Entity Registrant Name | AVENUE THERAPEUTICS, INC. | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 16,682,803 | |
Entity Central Index Key | 0001644963 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Trading Symbol | ATXI | |
Entity Ex Transition Period | true |
CONDENSED BALANCE SHEETS
CONDENSED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash and cash equivalents | $ 6,574 | $ 8,745 |
Prepaid expenses and other current assets | 122 | 170 |
Total Assets | 6,696 | 8,915 |
Current Liabilities: | ||
Accounts payable and accrued expenses | 790 | 1,101 |
Accounts payable and accrued expenses - related party | 133 | 14 |
Licenses payable | 1,000 | |
Total current liabilities | 923 | 2,115 |
Total Liabilities | 923 | 2,115 |
Commitments and Contingencies | ||
Stockholders' Equity | ||
Common shares, 16,682,803 and 16,682,190 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively | 2 | 2 |
Additional paid-in capital | 75,130 | 74,915 |
Accumulated deficit | (69,359) | (68,117) |
Total Stockholders' Equity | 5,773 | 6,800 |
Total Liabilities and Stockholders' Equity | 6,696 | 8,915 |
Series A Preferred Stock [Member] | ||
Stockholders' Equity | ||
Preferred Stock ($0.0001 par value), 2,000,000 shares authorized Class A Preferred Stock, 250,000 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively | $ 0 | $ 0 |
CONDENSED BALANCE SHEETS (Paren
CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized | 2,000,000 | 2,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares, Issued | 16,682,803 | 16,682,190 |
Common Stock, Shares, Outstanding | 16,682,803 | 16,682,190 |
Series A Preferred Stock [Member] | ||
Preferred Stock, Shares Issued | 250,000 | 250,000 |
Preferred Stock, Shares Outstanding | 250,000 | 250,000 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Operating expenses: | ||
Research and development | $ 697 | $ 10,241 |
General and administrative | 577 | 1,119 |
Loss from operations | (1,274) | (11,360) |
Interest income | (32) | (91) |
Net Loss | $ (1,242) | $ (11,269) |
Net loss per common share outstanding, basic and diluted | $ (0.08) | $ (0.82) |
Weighted average number of common shares outstanding, basic and diluted | 16,474,655 | 13,742,649 |
CONDENSED STATEMENTS OF STOCKHO
CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands | Class A Preferred Shares | Common Shares | Additional paid-in capital | Accumulated deficit | Total |
Balance at Dec. 31, 2018 | $ 1 | $ 41,577 | $ (42,209) | $ (631) | |
Balance (in shares) at Dec. 31, 2018 | 250,000 | 10,667,714 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Share based compensation | 751 | 751 | |||
Issuance of common shares, net of costs | $ 1 | 31,499 | 31,500 | ||
Issuance of common shares, net of costs (in shares) | 5,833,333 | ||||
Cashless exercise of warrants under the NSC Note (in shares) | 56,075 | ||||
Net loss | (11,269) | (11,269) | |||
Balance at Mar. 31, 2019 | $ 2 | 73,827 | (53,478) | 20,351 | |
Balance (in shares) at Mar. 31, 2019 | 250,000 | 16,557,122 | |||
Balance at Dec. 31, 2019 | $ 2 | 74,915 | (68,117) | 6,800 | |
Balance (in shares) at Dec. 31, 2019 | 250,000 | 16,682,190 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Share based compensation | 215 | 215 | |||
Cashless exercise of warrants under the NSC Note (in shares) | 613 | ||||
Net loss | (1,242) | (1,242) | |||
Balance at Mar. 31, 2020 | $ 2 | $ 75,130 | $ (69,359) | $ 5,773 | |
Balance (in shares) at Mar. 31, 2020 | 250,000 | 16,682,803 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (1,242) | $ (11,269) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Share based compensation | 215 | 751 |
Changes in operating assets and liabilities: | ||
Prepaid expenses and other current assets | 48 | (102) |
Accounts payable and accrued expenses | (311) | 5,453 |
Accounts payable and accrued expenses - related party | 119 | (401) |
Net cash used in operating activities | (1,171) | (5,568) |
Cash flows from investing activities: | ||
Milestone payment for research and development licenses | (1,000) | |
Net cash used in investing activities | (1,000) | |
Cash flows from financing activities: | ||
Issuance of common shares | 35,000 | |
Offering costs | (2,655) | |
Net cash provided by financing activities | 32,345 | |
Net change in cash | (2,171) | 26,777 |
Cash and cash equivalents, beginning of period | 8,745 | 2,671 |
Cash and cash equivalents, end of period | $ 6,574 | 29,448 |
Non-cash financing activities: | ||
Unpaid offering costs | $ 12 |
Organization, Plan of Business
Organization, Plan of Business Operations | 3 Months Ended |
Mar. 31, 2020 | |
Organization, Plan of Business Operations | |
Organization, Plan of Business Operations | Note 1 - Organization, Plan of Business Operations Avenue Therapeutics, Inc. (the “Company” or “Avenue”) was incorporated in Delaware on February 9, 2015, as a wholly owned subsidiary of Fortress Biotech, Inc. (“Fortress”), to develop and market pharmaceutical products for the acute care setting in the United States. The Company is focused on developing its product candidate, an intravenous (“IV”) formulation of tramadol HCI (“IV Tramadol”), for moderate to moderately severe post-operative pain. Stock Purchase and Merger Agreement On November 12, 2018, the Company and InvaGen Pharmaceuticals Inc. (“InvaGen”), entered into definitive agreements with two closing stages for a proposed acquisition of the Company for a total aggregate consideration of $215.0 million. The Stock Purchase and Merger Agreement (the “SPMA”) was approved by a majority of the Company’s stockholders, including a majority of its non-affiliated stockholders, at its special shareholder meeting on February 6, 2019. On February 8, 2019, InvaGen acquired 5,833,333 shares of the Company’s common stock at $6.00 per share (the “Stock Purchase Transaction”) for net proceeds of $31.5 million after deducting commission fees and other offering costs, representing a 33.3% stake in the Company’s capital stock on a fully diluted basis. At the second stage closing, InvaGen will acquire the remaining shares of Avenue’s common stock, pursuant to a reverse triangular merger with Avenue remaining as the surviving entity, for up to $180.0 million in the aggregate (the “Merger Transaction”). The second stage closing is subject to the satisfaction of certain closing conditions, including conditions pertaining to U.S. Food and Drug Administration approval, labeling, scheduling and the absence of any Risk Evaluation and Mitigation Strategy or similar restrictions in effect with respect to IV Tramadol, as well as the expiration of any waiting period applicable to the acquisition under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. Subject to the terms and conditions described in the SPMA, InvaGen may also provide interim financing to the Company in an amount of up to $7.0 million during the time period between the Stock Purchase Transaction (which occurred on February 8, 2019) and the Merger Transaction. Any amounts drawn on the interim financing will be deducted from the aggregate consideration payable to the Company’s stockholders by virtue of the Merger Transaction. There have been no amounts drawn upon this interim financing as of March 31, 2020. Liquidity and Capital Resources The Company has incurred substantial operating losses since its inception and expects to continue to incur significant operating losses for the foreseeable future as it executes on its product development plan and may never become profitable. As of March 31, 2020, the Company had an accumulated deficit of $69.4 million. The Company believes that its cash and cash equivalents as of March 31, 2020, as well as its access to potential interim financing from InvaGen and pledged financial support from Fortress, will enable the Company to continue to fund operations in the normal course of business for more than a twelve-month period from the date of filing this Quarterly Report on Form 10-Q. However, changing circumstances, some of which may be beyond its control, could cause the Company to consume capital faster than it currently anticipates if certain milestone payments become due, and it may need to seek additional funds sooner than planned. If the amounts made available from InvaGen and Fortress are not sufficient, the Company would be required to obtain further funding through equity offerings, debt financings, collaborations and licensing arrangements or other sources. In addition to the foregoing, based on the Company’s current assessment, the Company does not expect any material impact on its development timeline and its liquidity due to the worldwide spread of the COVID-19 virus. However, the Company is continuing to assess the effect on its operations by monitoring the spread of COVID-19 and the actions implemented to combat the virus throughout the world. |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2020 | |
Significant Accounting Policies | |
Significant Accounting Policies | Note 2 — Significant Accounting Policies Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These unaudited interim condensed financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. Therefore, these unaudited interim condensed financial statements should be read in conjunction with the Company's audited financial statements and notes thereto for the year ended December 31, 2019, which were included in the Company’s Form 10-K, and filed with the U.S. Securities and Exchange Commission (“SEC”) on March 30, 2020. The results of operations for any interim periods are not necessarily indicative of the results that may be expected for the entire fiscal year or any other interim period. The Company has no subsidiaries. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2 in its audited financial statements for the year ended December 31, 2019 included in the Company’s Form 10-K. With the exception of those noted below, there have been no material changes to the Company’s significant accounting policies. Net loss per Share Loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding, excluding unvested restricted stock and stock options and preferred shares, during the period. Since dividends are declared paid and set aside among the holders of shares of common stock and Class A common stock pro-rata on an as-if-converted basis, the two-class method of computing net loss per share is not required. The following table sets forth the potential common shares that could potentially dilute basic income per share in the future that were not included in the computation of diluted income (loss) per share because to do so would have been anti-dilutive for the periods presented: For the Three Months Ended March 31, March 31, 2020 2019 Unvested restricted stock units/awards 1,201,575 1,065,317 Preferred shares 250,000 250,000 Total potential dilutive effect 1,451,575 1,315,317 Recent Accounting Pronouncements to be Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, (“ASU 2019-12”) which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of this standard on its financial statements and related disclosures. Coronavirus Aid, Relief and Economic Security Act ("CARES Act") In response to the COVID-19 pandemic, the Coronavirus Aid, Relief and Economic Security Act ("CARES Act") was signed into law on March 27, 2020. The CARES Act, among other things, includes tax provisions relating to refundable payroll tax credits, deferment of employer's social security payments, net operating loss utilization and carryback periods, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. At this time, the Company does not believe that the CARES Act will have a material impact on the Company's income tax provision for 2020. The Company will continue to evaluate the impact of the CARES Act on its financial position, results of operations and cash flows. |
Accounts Payable and Accrued Ex
Accounts Payable and Accrued Expenses | 3 Months Ended |
Mar. 31, 2020 | |
Accounts Payable and Accrued Expenses | |
Accounts Payable and Accrued Expenses | Note 3— Accounts Payable and Accrued Expenses Accounts payable, accrued expenses and other liabilities consisted of the following (in thousands): As of March 31, As of December 31, 2020 2019 Accounts payable $ 217 $ 354 Accrued employee compensation 114 477 Accrued contracted services and other 459 270 Accounts payable and accrued expenses $ 790 $ 1,101 |
Stockholders' Equity
Stockholders' Equity | 3 Months Ended |
Mar. 31, 2020 | |
Stockholders' Equity | |
Stockholders' Equity | Note 4 — Stockholders’ Equity Equity Incentive Plan The Company has in effect the 2015 Incentive Plan (“2015 Incentive Plan”). The 2015 Incentive Plan was adopted in December 2015 by our stockholders. Under the 2015 Incentive Plan, the compensation committee of the Company’s board of directors is authorized to grant stock-based awards to directors, officers, employees and consultants. The plan authorizes grants to issue up to 2,000,000 shares of authorized but unissued common stock and expires 10 years from adoption and limits the term of each option to no more than 10 years from the date of grant. Restricted Stock Units and Restricted Stock Awards The following table summarizes restricted stock unit and award activity for the three months ended March 31, 2020: Weighted Number of Units Average Grant and Awards Date Fair Value Unvested balance at December 31, 2019 1,045,162 $ 5.10 Granted 156,413 $ 10.98 Unvested balance at March 31, 2020 1,201,575 $ 5.86 For the three months ended March 31, 2020 and 2019, stock-based compensation expenses associated with the amortization of restricted stock units and restricted stock awards for employees and non-employees were approximately $0.2 million and $0.8 million, respectively. At March 31, 2020, the Company had unrecognized stock-based compensation expense related to restricted stock units and restricted stock awards of $0.9 million, which is expected to be recognized over the remaining weighted-average vesting period of 1.0 years. This amount does not include, as of March 31, 2020, 467,586 shares of restricted stock outstanding which are performance-based and vest upon achievement of certain corporate milestones. The expense is recognized over the vesting period of the award. Stock-based compensation for milestone awards will be measured and recorded if and when it is probable that the milestone will be achieved. Stock Warrants The following table summarizes the warrant activity for the three months ended March 31, 2020: Weighted Aggregate Average Exercise Intrinsic Value Warrants Price (in thousands) Outstanding, December 31, 2019 16,454 $ 0.6079 $ 148 Exercised (613) $ 0.0001 — Outstanding, March 31, 2020 15,841 $ 0.6315 $ 132 |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2020 | |
Significant Accounting Policies | |
Basis of Presentation | Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S GAAP for complete financial statements. In the opinion of management, the unaudited interim condensed financial statements reflect all adjustments, which include only normal recurring adjustments necessary for the fair statement of the balances and results for the periods presented. Certain information and footnote disclosures normally included in the Company’s annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted. These unaudited interim condensed financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. Therefore, these unaudited interim condensed financial statements should be read in conjunction with the Company's audited financial statements and notes thereto for the year ended December 31, 2019, which were included in the Company’s Form 10-K, and filed with the U.S. Securities and Exchange Commission (“SEC”) on March 30, 2020. The results of operations for any interim periods are not necessarily indicative of the results that may be expected for the entire fiscal year or any other interim period. The Company has no subsidiaries. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2 in its audited financial statements for the year ended December 31, 2019 included in the Company’s Form 10-K. With the exception of those noted below, there have been no material changes to the Company’s significant accounting policies. |
Net loss per Share | Net loss per Share Loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding, excluding unvested restricted stock and stock options and preferred shares, during the period. Since dividends are declared paid and set aside among the holders of shares of common stock and Class A common stock pro-rata on an as-if-converted basis, the two-class method of computing net loss per share is not required. The following table sets forth the potential common shares that could potentially dilute basic income per share in the future that were not included in the computation of diluted income (loss) per share because to do so would have been anti-dilutive for the periods presented: For the Three Months Ended March 31, March 31, 2020 2019 Unvested restricted stock units/awards 1,201,575 1,065,317 Preferred shares 250,000 250,000 Total potential dilutive effect 1,451,575 1,315,317 |
Recent Accounting Pronouncements to be Adopted | Recent Accounting Pronouncements to be Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, (“ASU 2019-12”) which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. The Company is currently evaluating the impact of this standard on its financial statements and related disclosures. Coronavirus Aid, Relief and Economic Security Act ("CARES Act") In response to the COVID-19 pandemic, the Coronavirus Aid, Relief and Economic Security Act ("CARES Act") was signed into law on March 27, 2020. The CARES Act, among other things, includes tax provisions relating to refundable payroll tax credits, deferment of employer's social security payments, net operating loss utilization and carryback periods, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. At this time, the Company does not believe that the CARES Act will have a material impact on the Company's income tax provision for 2020. The Company will continue to evaluate the impact of the CARES Act on its financial position, results of operations and cash flows |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Significant Accounting Policies | |
Schedule of diluted income (loss) per share | The following table sets forth the potential common shares that could potentially dilute basic income per share in the future that were not included in the computation of diluted income (loss) per share because to do so would have been anti-dilutive for the periods presented: For the Three Months Ended March 31, March 31, 2020 2019 Unvested restricted stock units/awards 1,201,575 1,065,317 Preferred shares 250,000 250,000 Total potential dilutive effect 1,451,575 1,315,317 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2020 | |
Stockholders' Equity | |
Schedule of restricted stock unit and award activity | The following table summarizes restricted stock unit and award activity for the three months ended March 31, 2020: Weighted Number of Units Average Grant and Awards Date Fair Value Unvested balance at December 31, 2019 1,045,162 $ 5.10 Granted 156,413 $ 10.98 Unvested balance at March 31, 2020 1,201,575 $ 5.86 |
Schedule of warrant activity | The following table summarizes the warrant activity for the three months ended March 31, 2020: Weighted Aggregate Average Exercise Intrinsic Value Warrants Price (in thousands) Outstanding, December 31, 2019 16,454 $ 0.6079 $ 148 Exercised (613) $ 0.0001 — Outstanding, March 31, 2020 15,841 $ 0.6315 $ 132 |
Organization, Plan of Busines_2
Organization, Plan of Business Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | Feb. 08, 2019 | Mar. 31, 2020 | Dec. 31, 2019 | Nov. 12, 2018 |
Accumulated deficit | $ (69,359) | $ (68,117) | ||
Line of Credit [Member] | ||||
Interim Financing Amount | $ 7,000 | |||
Invagen Pharmaceuticals Inc [Member] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 31,500 | $ 215,000 | ||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 5,833,333 | |||
Business Acquisition, Share Price | $ 6 | |||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 33.30% | |||
Invagen Pharmaceuticals Inc [Member] | Common Shares | ||||
Stock Issued During Period, Value, Acquisitions | $ 180,000 |
Significant Accounting Polici_4
Significant Accounting Policies (Details) - shares | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total potential dilutive effect (in shares) | 1,451,575 | 1,315,317 |
Unvested restricted stock units/awards | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total potential dilutive effect (in shares) | 1,201,575 | 1,065,317 |
Preferred shares | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total potential dilutive effect (in shares) | 250,000 | 250,000 |
Accounts Payable and Accrued _2
Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts Payable and Accrued Expenses | ||
Accounts payable | $ 217 | $ 354 |
Accrued employee compensation | 114 | 477 |
Accrued contracted services and other | 459 | 270 |
Accounts payable and accrued expenses | $ 790 | $ 1,101 |
Stockholders' Equity - Equity I
Stockholders' Equity - Equity Incentive Plan (Details) - Two Thousand Fifteen Incentive Plan [Member] | 3 Months Ended |
Mar. 31, 2020shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,000,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Options | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | 10 years |
Stockholders' Equity - Restrict
Stockholders' Equity - Restricted Stock Units and Restricted Stock Awards - Activity (Details) - Unvested restricted stock units/awards | 3 Months Ended |
Mar. 31, 2020$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Number of Units and Awards, Unvested Beginning Balance | shares | 1,045,162 |
Number of Units and Awards, Granted | shares | 156,413 |
Number of Units and Awards, Unvested Ending Balance | shares | 1,201,575 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Weighted Average Grant Date Fair Value, Unvested Beginning Balance | $ / shares | $ 5.10 |
Weighted Average Grant Date Fair Value, Granted | $ / shares | 10.98 |
Weighted Average Grant Date Fair Value, Unvested Ending Balance | $ / shares | $ 5.86 |
Stockholders' Equity - Restri_2
Stockholders' Equity - Restricted Stock Units and Restricted Stock Awards - Share-based Compensation Expense (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Unvested restricted stock units/awards | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Share-based Compensation | $ 0.2 | $ 0.8 |
Stockholders' Equity - Restri_3
Stockholders' Equity - Restricted Stock Units and Restricted Stock Awards - Unrecognized Share-based Compensation Expense (Details) - Unvested restricted stock units/awards $ in Millions | 3 Months Ended |
Mar. 31, 2020USD ($)shares | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized [Abstract] | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $ | $ 0.9 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | shares | 467,586 |
Stockholders' Equity - Warrants
Stockholders' Equity - Warrants (Details) - Warrants under National Securities, Inc Note [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2020 | Dec. 31, 2019 | |
Class of Warrant or Right [Line Items] | ||
Beginning Balance (in shares) | 16,454 | |
Exercised (in shares) | (613) | |
Ending Balance (in shares) | 15,841 | |
Aggregate Intrinsic Value | $ 132 | $ 148 |
Weighted Average [Member] | ||
Class of Warrant or Right [Line Items] | ||
Beginning Balance (in dollars per shares) | $ 0.6079 | |
Exercised (in dollars per share) | 0.0001 | |
Ending Balance (in dollars per shares) | $ 0.6315 |