Aptinyx (APTX) 10-Q 9 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 04, 2021
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-38535
Entity Registrant Name	Aptinyx Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-4626057
Entity Address, Address Line One	909 Davis Street
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Evanston
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60201
City Area Code	847
Local Phone Number	871-0377
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	APTX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		67,715,718
Entity Central Index Key	0001674365
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 125,290	$ 141,028
Restricted cash	197	179
Accounts receivable		257
Prepaid expenses and other current assets	6,920	8,140
Total current assets	132,407	149,604
Other assets		92
Property and equipment, net	243	910
Total assets	132,650	150,606
Current liabilities:
Accounts payable	3,117	1,209
Accrued expenses and other current liabilities	3,166	3,374
Total current liabilities	6,283	4,583
Term loan, non-current	14,038
Other long-term liabilities	287	114
Total liabilities	20,608	4,697
Commitments and contingencies (see Note 12)
Stockholders' equity:
Preferred stock, $0.01 par value, 10,000 shares authorized and no shares issued and outstanding as of September 30, 2021 and December 31, 2020
Common stock, $0.01 par value, 150,000 shares authorized as of September 30, 2021 and December 31, 2020, 67,716 and 63,257 issued and outstanding as of September 30, 2021 and December 31, 2020	677	633
Additional paid-in capital	379,642	358,277
Accumulated deficit	(268,277)	(213,001)
Total stockholders' equity	112,042	145,909
Total liabilities and stockholders' equity	$ 132,650	$ 150,606

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares shares in Thousands	Sep. 30, 2021	Dec. 31, 2020
Condensed Balance Sheets
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	150,000	150,000
Common stock, shares issued	67,716	63,257
Common stock, shares outstanding	67,716	63,257

Condensed Statements of Operati

Condensed Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Collaboration revenue		$ 257	$ 1,000	$ 1,564
Type of Revenue [Extensible List]			aptx:CollaborationRevenueMember	aptx:CollaborationRevenueMember
Operating expenses:
Research and development	$ 16,278	6,630	$ 41,388	$ 26,049
General and administrative	4,928	5,050	14,974	14,719
Total operating expenses	21,206	11,680	56,362	40,768
Loss from operations	(21,206)	(11,423)	(55,362)	(39,204)
Other income (expense), net	(25)	85	86	639
Net loss and comprehensive loss	$ (21,231)	$ (11,338)	$ (55,276)	$ (38,565)
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.31)	$ (0.24)	$ (0.82)	$ (0.85)
Weighted-average number of common shares outstanding, basic and diluted (in shares)	67,716	46,978	67,053	45,503

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net loss	$ (55,276)	$ (38,565)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense	488	316
Non-cash interest expense related to note payable	19
Stock-based compensation expense	7,395	7,503
Changes in operating assets and liabilities:
Prepaid expenses and other assets	1,258	(3,259)
Accounts receivable	257	187
Accounts payable	1,818	(559)
Accrued expenses and other liabilities	(324)	(66)
Net cash used in operating activities	(44,365)	(34,443)
Cash flows from investing activities:
Purchases of property and equipment		(214)
Proceeds from sale of property and equipment	122
Net cash provided by (used in) investing activities	122	(214)
Cash flows from financing activities:
Proceeds from stock options exercised	133	490
Repurchase of shares for tax withholdings	(912)
Proceeds from issuance of term loan, net of issuance costs paid to lender	14,638
Payments of debt issuance costs	(38)
Proceeds from public offering, net of underwriters' discounts		33,672
Proceeds from at the market offering, net of sales commission	14,615	5,799
Payment of offering costs	(5)	(417)
Net cash provided by financing activities	28,431	39,544
Net (decrease) increase in cash, cash equivalents and restricted cash	(15,812)	4,887
Cash, cash equivalents and restricted cash, at beginning of period	141,299	99,194
Cash, cash equivalents and restricted cash, at end of period	125,487	$ 104,081
Supplemental disclosure of non-cash investing and financing activities:
Offering costs not yet paid	114
Debt issuance costs not yet paid	39
Recognition of derivative liability associated with contingently issuable warrants	287
Issuance of warrants in connection with term loan financing	$ 255

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity - USD ($) $ in Thousands	Follow-on Public OfferingCommon stock	Follow-on Public OfferingAdditional paid-in capital	Follow-on Public Offering	ATM OfferingCommon stock	ATM OfferingAdditional paid-in capital	ATM Offering	Common stock	Additional paid-in capital	Accumulated deficit	Total
Stockholders' (deficit) equity beginning balance at Dec. 31, 2019							$ 337	$ 263,922	$ (162,948)	$ 101,311
Stockholders' (deficit) equity shares beginning balance at Dec. 31, 2019							33,739,000
Stockholders' (Deficit) Equity Rollforward
Issuance of common stock upon vesting of restricted stock (in shares)							23,000
Issuance of common stock	$ 117	$ 33,225	$ 33,342	$ 15	$ 5,690	$ 5,705
Issuance of common stock (in shares)	11,692,000			1,491,000
Stock-based compensation								7,503		7,503
Issuance of common stock upon exercise of stock options							$ 2	488		490
Issuance of common stock upon exercise of stock options (in shares)							212,000
Net loss									(38,565)	(38,565)
Stockholders' (deficit) equity ending balance at Sep. 30, 2020							$ 471	310,828	(201,513)	109,786
Stockholders' (deficit) equity shares ending balance at Sep. 30, 2020							47,157,000
Stockholders' (deficit) equity beginning balance at Jun. 30, 2020							$ 468	307,015	(190,175)	117,308
Stockholders' (deficit) equity shares beginning balance at Jun. 30, 2020							46,850,000
Stockholders' (Deficit) Equity Rollforward
Issuance of common stock				$ 3	1,127	1,130
Issuance of common stock (in shares)				299,000
Stock-based compensation								2,669		2,669
Issuance of common stock upon exercise of stock options								17		17
Issuance of common stock upon exercise of stock options (in shares)							8,000
Net loss									(11,338)	(11,338)
Stockholders' (deficit) equity ending balance at Sep. 30, 2020							$ 471	310,828	(201,513)	109,786
Stockholders' (deficit) equity shares ending balance at Sep. 30, 2020							47,157,000
Stockholders' (deficit) equity beginning balance at Dec. 31, 2020							$ 633	358,277	(213,001)	$ 145,909
Stockholders' (deficit) equity shares beginning balance at Dec. 31, 2020							63,257,000			63,257,000
Stockholders' (Deficit) Equity Rollforward
Issuance of common stock upon vesting of restricted stock							$ 11	(11)
Issuance of common stock upon vesting of restricted stock (in shares)							1,089,000
Issuance of warrants in connection with term loan financing								255		$ 255
Repurchase of shares for tax withholdings							$ (3)	(909)		(912)
Repurchase of shares for tax withholdings (in shares)							(347,000)
Issuance of common stock				$ 36	$ 14,502	$ 14,538
Issuance of common stock (in shares)				3,630,000		3,629,458
Stock-based compensation								7,395		7,395
Issuance of common stock upon exercise of stock options								133		133
Issuance of common stock upon exercise of stock options (in shares)							87,000
Net loss									(55,276)	(55,276)
Stockholders' (deficit) equity ending balance at Sep. 30, 2021							$ 677	379,642	(268,277)	$ 112,042
Stockholders' (deficit) equity shares ending balance at Sep. 30, 2021							67,716,000			67,716,000
Stockholders' (deficit) equity beginning balance at Jun. 30, 2021							$ 677	377,125	(247,046)	$ 130,756
Stockholders' (deficit) equity shares beginning balance at Jun. 30, 2021							67,716,000
Stockholders' (Deficit) Equity Rollforward
Issuance of warrants in connection with term loan financing								255		255
Stock-based compensation								2,262		2,262
Net loss									(21,231)	(21,231)
Stockholders' (deficit) equity ending balance at Sep. 30, 2021							$ 677	$ 379,642	$ (268,277)	$ 112,042
Stockholders' (deficit) equity shares ending balance at Sep. 30, 2021							67,716,000			67,716,000

Condensed Statements of Stock_2

Condensed Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Sales commissions and other offering costs		$ 5	$ 417
Follow-on Public Offering
Discount and other offering costs			1,733
ATM Offering
Sales commissions and other offering costs	$ 37	$ 529	$ 274

Organization

Organization	9 Months Ended
	Sep. 30, 2021
Organization
Organization	1. Organization Description of business Aptinyx Inc. (the “Company” or “Aptinyx”) was incorporated in Delaware on June 24, 2015 and maintains its headquarters in Evanston, Illinois. Aptinyx is a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of novel, proprietary, synthetic small molecules for the treatment of brain and nervous system disorders. Aptinyx has a platform for discovering proprietary compounds that work through a novel mechanism: modulation of N-methyl-D-aspartate receptors (“NMDAr”), which are vital to normal and effective brain and nervous system functions. This mechanism has applicability across numerous nervous system disorders. Liquidity and capital resources On July 1, 2019, the Company entered into a Sales Agreement (the “2019 Sales Agreement”) with Cowen and Company, LLC (“Cowen”) pursuant to which the Company may offer and sell shares of its common stock with an aggregate offering price of up to $50.0 million under an “at the market” offering program (the “2019 ATM Offering”). The 2019 Sales Agreement provides that Cowen will be entitled to a sales commission equal to 3.0% of the gross sales price per share of all shares sold under the 2019 ATM Offering. To date, the Company has sold an aggregate of 5,120,940 shares under the 2019 ATM Offering at a weighted-average price of $3.99 per share for net proceeds of $20.4 million after deducting sales commission and other offering expenses, including 3,629,458 shares for net proceeds of $14.5 million during the nine months ended September 30, 2021. ​ On January 14, 2020, the Company completed a follow-on ​ On October 26, 2020, the Company completed a follow-on ​ On September 15, 2021, the Company entered into a Loan and Security agreement (the “Loan Agreement”) with K2 HealthVentures LLC (“Lender”). The Loan Agreement provides up to $50.0 million principal in term loans, $15.0 million of which was funded at the time the Company entered into the agreement. See Note 7 for additional details regarding the Loan Agreement. ​ On September 16, 2021, the Company entered into a Sales Agreement (the “2021 Sales Agreement”) with Cowen pursuant to which the Company may offer and sell shares of its common stock with an aggregate offering price of up to $50.0 million under an “at the market” offering program (the “2021 ATM Offering”) and which supersedes the 2019 Sales Agreement and 2019 ATM Offering. The 2021 Sales Agreement provides that Cowen will be entitled to a sales commission equal to 3.0% of the gross sales price per share of all shares sold under the 2021 ATM Offering. As of the date of these financial statements, no shares of common stock have been issued and sold pursuant to the 2021 Sales Agreement. ​ As of September 30, 2021, the Company had cash and cash equivalents of $125.3 million, which the Company believes will be sufficient to funds its planned operations for a period of at least twelve months from the date of issuance of these condensed financial statements.

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
	Sep. 30, 2021
Summary of significant accounting policies
Summary of significant accounting policies	2. Basis of presentation The condensed financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted from this report, as is permitted by such rules and regulations. The accompanying condensed financial statements reflect all adjustments consisting of normal, recurring adjustments that are necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Interim results are not necessarily indicative of results for a full year. Accordingly, these condensed financial statements should be read in conjunction with the financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “Annual Report”) filed with the SEC on March 24, 2021. From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”), or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial statements upon adoption. Under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), the Company meets the definition of an emerging growth company, and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply to private companies. Use of estimates The condensed financial statements are prepared in conformity with GAAP. This process requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. Risk and uncertainties The Company’s future results of operations involve a number of risks and uncertainties. Factors that could affect the Company’s future operating results and cause actual results to vary materially from expectations include, but are not limited to, uncertainty of: the impact of COVID-19 on future clinical study results, the scope, timing, rate of progress, and expense of the Company’s ongoing as well as any additional preclinical studies, clinical studies, and other research and development activities, clinical study enrollment rate or design, the manufacturing of the Company’s product candidates, significant and changing government regulation, and the timing and receipt of any regulatory approvals. A novel strain of coronavirus (COVID-19) was first identified in December 2019, and subsequently declared a global pandemic by the World Health Organization on March 11, 2020. As a result of the outbreak, many companies have experienced disruptions in their operations and in markets served. On March 27, 2020, the Company suspended patient enrollment for certain ongoing Phase 2 clinical studies, including its NYX-2925 studies in painful diabetic peripheral neuropathy and fibromyalgia and its NYX-458 study in Parkinson’s disease cognitive impairment and dementia with Lewy bodies. The Company re-initiated enrollment in its NYX-2925 study in fibromyalgia in September 2020, in its NYX-2925 study in painful diabetic peripheral neuropathy in January 2021, and in its NYX-458 study in Parkinson’s disease cognitive impairment and dementia with Lewy bodies in March 2021. The Company has initiated some and may take additional temporary precautionary measures intended to help ensure the well-being of its employees and minimize business disruption. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position as of and for the nine months ended September 30, 2021. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. Another prolonged outbreak could have a material adverse impact on financial results and business operations of the Company, including the availability of capital, timing and ability of the Company to complete certain clinical studies, and other efforts required to advance the development of its targets. Significant accounting policies The Company’s significant accounting policies are described herein and in Note 3, “Summary of significant accounting policies,” in the Annual Report. There have been no material changes to the significant accounting policies during the nine months ended September 30, 2021 with the exception of the following: Term loans When the Company issues debt with a conversion feature, it assesses whether the conversion feature meets the requirements to be treated as a derivative, as follows: (a) one or more underlyings, typically the price of the Company’s common stock; (b) one or more notional amounts or payment provisions or both, generally the number of shares upon conversion; (c) no initial net investment, which typically excludes the amount borrowed; and (d) net settlement provisions, which in the case of convertible debt generally means the stock received upon conversion can be readily sold for cash. An embedded equity-linked component that meets the definition of a derivative does not have to be separated from the host instrument if the component qualifies for the scope exception for certain contracts involving an issuer’s own equity. The scope exception applies if the contract is both (a) indexed to its own stock; and (b) classified in stockholders’ equity in its condensed balance sheet. If the conversion feature meets the requirements to be treated as a derivative, the conversion features is bifurcated and separately accounted for under ASC Topic 815. Warrants In accordance with ASC Topic 470-20-25, when the Company issues debt with warrants, the Company treats the warrants as a debt discount, recorded as a contra-liability against the debt, and amortizes the balance over the life of the underlying debt as amortization of debt discount expense in the condensed statements of operations. The offset to the contra-liability is recorded as additional paid-in capital in the Company’s condensed balance sheets if the warrants are not treated as a derivative or as liability warrants. The Company determines the fair value of the warrants at issuance using the Black-Scholes option pricing model. ​ Recently adopted accounting pronouncement In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options and Derivatives and Hedging—Contracts in Entity’s Own Equity : Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity Recently issued accounting pronouncement In February 2016, the FASB issued ASU No. 2016-02, Leases leases using classification criteria that are substantially similar to the previous guidance. The new standard will be effective for the Company for annual reporting periods beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022, and early adoption is permitted. The Company anticipates that the adoption of this standard will have an impact on its balance sheet due to the recognition of right-of-use assets and lease liabilities; however, the Company is currently evaluating the impact that the adoption of ASU 2016-02 may have on its condensed financial statements.

Supplemental financial informat

Supplemental financial information	9 Months Ended
	Sep. 30, 2021
Supplemental financial information
Supplemental financial information	3. Supplemental financial information Cash, cash equivalents and restricted cash Cash and cash equivalents consist of cash and, if applicable, highly liquid investments with an original maturity of three months or less when purchased. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheets that sum to the total of the same such amounts shown in the condensed statements of cash flows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Cash and cash equivalents ​ $ 125,290 ​ $ 141,028 ​ Short-term and long-term restricted cash ​ 197 ​ 271 ​ Total cash, cash equivalents, and restricted cash shown in the statements of cash flows ​ $ 125,487 ​ $ 141,299 ​ ​ Prepaid expenses and other current assets ​ Prepaid expenses and other current assets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Prepaid clinical $ 2,719 ​ $ 6,052 Prepaid insurance ​ ​ 1,539 ​ ​ 1,177 ​ Prepaid manufacturing costs ​ ​ 2,240 ​ ​ 613 ​ Other prepaid expenses and current assets 422 ​ 298 Total prepaid expenses and other current assets $ 6,920 ​ $ 8,140 ​ Accrued expenses and other current liabilities ​ Accrued expenses and other current liabilities consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Employee-related expenses ​ $ 1,654 ​ $ 2,039 ​ Development costs and sponsored research ​ 524 ​ 897 ​ Clinical trials ​ 264 ​ 195 ​ Professional services ​ ​ 179 ​ ​ 90 ​ Other ​ 545 ​ 153 ​ Total accrued expenses and other current liabilities ​ $ 3,166 ​ $ 3,374 ​ ​

Research collaboration agreemen

Research collaboration agreement with Allergan	9 Months Ended
	Sep. 30, 2021
Research collaboration agreement with Allergan
Research collaboration agreement with Allergan	4. Research collaboration agreement with Allergan On July 24, 2015, the Company entered into a Research Collaboration Agreement (“RCA”) with Naurex Inc., a subsidiary of Allergan plc (“Allergan”), which became a wholly owned subsidiary of AbbVie Inc. in May 2020. The RCA was focused on the research and discovery of small molecules that modulate NMDArs. The collaboration was supervised by a Joint Steering Committee (“JSC”) comprising an equal number of representatives from both the Company and Allergan. Under the terms of the agreement, the RCA terminated upon the earlier of (i) 180 days after a predetermined anniversary of the effective date of the RCA and (ii) the date on which Allergan exercised the last of three options to acquire molecules from a pool of eligible compounds, in both cases (clauses (i) and (ii)) subject to potential extension if and as required for the Company to transfer to Allergan information and technology related to compounds that were licensed by Allergan. The jointly funded research activities and option exercise period under the RCA, including the associated payments by Allergan to the Company, came to their contractual conclusions in accordance with the agreement in August 2020 and February 2021, respectively. Under the terms of the agreement, Allergan was to pay the Company $1.0 million for each option exercised by Allergan. On February 23, 2021, Allergan exercised its option to acquire exclusive rights to develop and commercialize AGN-281705 within a predefined set of indications. For the nine months ended September 30, 2021, the Company recognized the $1.0 million non-refundable milestone payment within collaboration revenue in the statements of operations as there were no remaining performance obligations associated with the optioned compound. The Company concluded that Allergan meets the definition of a customer, and therefore concluded that the RCA represents a contract with a customer that falls within the scope of ASC 606. Performance obligations The Company identified the following promised goods or services within the RCA: ​ ● Research Licenses – the Company provided access to exclusive licenses under all of the Company’s NMDAr technologies, during the research term for the sole purpose of conducting research and development activities (the “Research Licenses”). Historically, the Company’s licenses have held no value to the customer on a standalone basis, as the research compounds were in the early discovery phase and required the Company’s expertise for further development. Accordingly, the Research Licenses were not considered distinct. ● Research and Development Services – the Company provided research and development services that were performed on behalf of, or with, Allergan (the “Research and Development Services”). As discussed within Research Licenses above, the Company’s licenses have historically held no value without the specialized Research and Development Services. As the Company generally only provided Research and Development Services for internally generated small molecules that modulate NMDArs which require a license to be utilized by a third party, the Research and Development Services were not considered distinct. ● Joint Steering Committee – the Company actively participated in a joint steering committee, which allowed the Company and its collaboration partner to direct the progression and prioritization of the joint discovery programs. As the JSC would not occur or benefit the customer without the use of the Research Licenses and the related Research and Development Services, and given the Company’s proprietary knowledge of the Research Licenses and the NMDAr technologies, this is not considered distinct. ​ The Company also evaluated whether the option granted to the customer to acquire additional goods or services represented a material right at contract inception. Upon Allergan’s exercise of one of its options, the Company was obligated to transfer control of all intellectual property relating to the optioned compound to Allergan, after which the Company has no further interest in, or continuing involvement with, such optioned compound. The Company evaluated the customer options for material rights, that is, whether the option was to acquire additional goods or services for free or at a discount, and concluded that the options are priced, at contract inception, at standalone selling price. Consequently, the customer options do not represent a performance obligation at the outset of the arrangement since they are contingent upon the option exercise which is outside of the Company’s control. The Company has concluded that there is a single combined performance obligation (comprising the Research Licenses, Research and Development Services, and participation in the JSC) which is satisfied over time, as the Research and Development Services are performed. The exercise of the option to acquire exclusive rights to develop and commercialize AGN-241751 or AGN-281705 are not considered a performance obligation until the time of option exercise. Transaction price ​ The RCA included both fixed and variable consideration. Fixed payments, such as contractually defined fees per full-time employee (“FTE”), were included in the transaction price at contract inception, while variable consideration, such as reimbursement for Research and Development Services, were estimated and then evaluated for constraints upon inception of the contract and evaluated on a quarterly basis thereafter. Research and Development Services were updated for actual invoices. There were no capitalized costs associated with obtaining the contract. The Company used an input method to measure proportional performance and to calculate the corresponding amount of revenue to recognize. The Company used fixed FTE efforts and variable out-of-pocket costs as actual costs incurred relative to the annual budget research plan to measure progress towards fulfillment of the performance obligation. An input method of revenue recognition requires management to make estimates of costs to complete the Company’s performance obligations. In making such estimates, significant judgment is required to evaluate assumptions related to cost estimates. The cumulative effect of revisions to estimated costs to complete the Company’s performance obligations will be recorded in the period in which changes are identified and amounts can be reasonably estimated. The Company does not anticipate significant changes as the research plan is reviewed and adjusted annually and approved by the JSC. There are no significant financing components in the contract. The Company has determined that the option fee is representative of standalone selling price and concluded that it would recognize revenue for the option fee at a point in time, on the date of exercise, due to the significant uncertainty of whether or not Allergan would exercise the option. The Company recognizes the option fee at a point in time because control of the underlying intellectual property transfers to the customer, and the customer is able to use and benefit from the license. The Company has no further rights, interests, or remaining performance obligations associated with any optioned compound, once exercised. During the three months ended September 30, 2021 and 2020, the Company recorded expenses of $0.0 million and $0.6 million, respectively, for certain development activities in accordance with the terms of the RCA, of which 50% was reimbursed by Allergan. The Company received reimbursements of $0.0 million and $0.3 million during the three months ended September 30, 2021 and 2020, respectively.

Fair value measurements

Fair value measurements	9 Months Ended
	Sep. 30, 2021
Fair value measurements
Fair value measurements	5. Fair value measurements ASC 820, Fair Value Measurement ● Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; ● Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and ● Level 3 inputs are unobservable inputs that reflect the Company’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The carrying values reported in the Company’s balance sheets for cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued expenses are reasonable estimates of their fair values due to the short-term nature of these items. Assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ ​ ​ ​ ​ ​ 2021 Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds, included in cash and cash equivalents ​ $ 123,813 ​ $ 123,813 ​ $ — ​ $ — Money market funds, included in restricted cash ​ ​ 197 ​ ​ 197 ​ — ​ — Total Assets ​ $ 124,010 ​ $ 124,010 ​ $ — ​ $ — Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative liability, included in other long-term liabilities ​ $ 287 ​ $ — ​ $ — ​ $ 287 Total Liabilities ​ $ 287 ​ $ — ​ $ — ​ $ 287 ​ Assets measured at fair value on a recurring basis as of December 31, 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ ​ ​ 2020 Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ Money market funds, included in cash and cash equivalents ​ $ 140,283 ​ $ 140,283 ​ $ — ​ $ — Money market funds, included in restricted cash ​ ​ 179 ​ ​ 179 ​ — ​ — Money market funds, included in other assets ​ ​ 92 ​ 92 ​ — ​ — Total Assets ​ $ 140,554 ​ $ 140,554 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Property and equipment, net

Property and equipment, net	9 Months Ended
	Sep. 30, 2021
Property and equipment, net
Property and equipment, net	​ 6. Property and equipment, net Property and equipment are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ ​ ​ 2021 2020 Computer software and equipment ​ $ — $ 15 ​ Office equipment and furniture ​ 152 ​ 176 ​ Laboratory equipment ​ 401 ​ 1,801 ​ Leasehold improvements ​ 979 ​ 1,062 ​ Less accumulated depreciation ​ (1,289) ​ (2,144) ​ Property and equipment, net ​ $ 243 ​ $ 910 ​ ​ Depreciation expense was $0.1 million for each of the three months ended September 30, 2021 and 2020, respectively, and $0.5 million and $0.4 million for the nine months ended September 30, 2021 and 2020, respectively. The Company disposed of certain laboratory equipment during the nine months ended September 30, 2021 that were fully depreciated at the time of disposal.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt
Debt	7. Debt On September 15, 2021, the Company entered into a Loan and Security Agreement (the “Loan Agreement”) with K2 HealthVentures LLC (the “Lender”). The Lender has agreed to make available to the Company term loans in an aggregate principal amount of up to $50.0 million under the Loan Agreement. The Company plans to use the proceeds of the term loans to support clinical development as well as for working capital and general corporate purposes. The Loan Agreement provides a term loan commitment of $50.0 million in four potential tranches: (i) a $15.0 million term loan facility funded on September 15, 2021 (the “First Tranche Term Loan”), (ii) a $10.0 million term loan facility (the “Second Tranche Term Loan”) available at the Company’s option between January 1, 2022 and June 30, 2022, (iii) a $10.0 million term loan facility (the “Third Tranche Term Loan”) available at the Company’s option between July 1, 2022 and December 1, 2022 subject to the draw of the Second Tranche Term Loan and positive phase 2 clinical data from NYX-2925 or NYX-458 and progression of another clinical asset, and (iv) a $15.0 million term loan facility (the “Fourth Tranche Term Loan”) available through July 1, 2023 at the Company’s option but subject to review of financial and clinical plan and Lender’s Investment Committee approval. All four of these term loans have a maturity date of September 1, 2025. Borrowings under all four term loan facilities bear interest at a floating per annum rate equal to the greater of (i) 7.95% and (ii) the Prime Rate plus 4.70% . The Company is permitted to make interest-only payments on the First Tranche Term Loan for the first 24 months following the funding date. The interest-only period can be extended by an additional 12 months , subject to the funding of the Second Tranche Term Loan and the funding of the Third Tranche Term Loan. The term of the combined facility will be 48 months , with repayment in monthly installments commencing at the end of the resulting interest-only period as outlined above through the end of the 48-month term. The Company is obligated to pay a final fee equal to 6.45% of the aggregate amount of the term loans funded (“Exit Fee”), to occur upon the earliest of (i) the maturity date, (ii) the acceleration of the term loans, and (iii) the prepayment of the term loans. The Company has the option to prepay all, but not less than all, of the outstanding principal balance of the term loans under the Loan Agreement. If the Company prepays all of the term loans prior to the maturity date, it will pay the Lender a prepayment penalty fee based on a percentage of the outstanding principal balance, equal to 3% if the payment occurs on or before 24 months after the initial funding date, 2% if the prepayment occurs more than 24 months after, but on or before 36 months after the initial funding date, or 1% if the prepayment occurs more than 36 months after the initial funding date. The Company also is obligated to pay the Lender an origination fee of 0.8% of all term loans funded at the time of funding. The Lender may, at its option, elect to convert any portion of no more than $4 million of the then outstanding term loan amount and all accrued and unpaid interest thereon into shares of the Company’s common stock at a conversion price of the lesser of $4.25 per share and the price per share of the common stock in the Company’s next equity offering in which the Company receives at least $20.0 million of gross proceeds . The Company determined that the embedded conversion option is not required to be separated from the term loan. The embedded conversion option meets the derivative accounting scope exception since the embedded conversion option is indexed to the Company’s own common stock and qualifies for classification within stockholders’ equity. The Company’s obligations under the Loan Agreement are secured by a first priority security interest in substantially all of its assets. The Loan Agreement contains customary representations and warranties, and also includes customary events of default, including payment default, breach of covenants, change of control, and material adverse effects. The Loan Agreement restricts certain activities, such as disposing of the Company’s business or certain assets, incurring additional debt or liens or making payments on other debt, making certain investments and declaring dividends, acquiring or merging with another entity, engaging in transactions with affiliates or encumbering intellectual property, among others. There are no financial covenants associated with the Loan Agreement. The Company was in compliance with all non-financial covenants under the Loan Agreement as of September 30, 2021. Upon the occurrence of an event of default, a default interest rate of an addition 5% per annum may be applied to the outstanding loan balances, and the Lender may declare all outstanding obligations immediately due and payable and exercise all of its rights and remedies as set forth in the Loan Agreement and under applicable law. The Company recorded interest expense related to the Loan Agreement of less than $0.1 million for the three and nine months ended September 30, 2021. Future principal debt payments of the term loans funded as of September 30, 2021 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ 2022 ​ $ — 2023 ​ 1,745 2024 ​ 7,333 2025 ​ 5,922 Total principal payments ​ 15,000 Exit Fee ​ ​ 968 Total principal payments and Exit Fee ​ ​ 15,968 Less: Unamortized debt discount related to warrants ​ ​ (540) Less: Unamortized debt discount related to Exit Fee ​ ​ (956) Less: Unamortized debt issuance costs ​ (434) Term loan, non-current ​ $ 14,038 ​

Stock incentive plans

Stock incentive plans	9 Months Ended
	Sep. 30, 2021
Stock incentive plans
Stock incentive plans	8. Stock incentive plans On June 5, 2018, the Company’s stockholders approved the 2018 Stock Option and Incentive Plan (the “2018 Plan”), which became effective on June 20, 2018. The 2018 Plan provides for an annual increase, to be added on the first day of each fiscal year, of up to 4% of the Company’s outstanding shares of common stock as of the last day of the prior year. On January 1, 2021, Stock-based compensation expense Non-cash stock-based compensation expense recognized in the accompanying condensed statements of operations relating to stock options, restricted stock awards, and restricted stock units for the three and nine months ended September 30, 2021 and 2020 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 Research and development ​ $ 634 ​ $ 645 ​ $ 2,047 ​ $ 1,660 ​ General and administrative ​ 1,628 ​ 2,024 ​ 5,348 ​ 5,843 ​ Total stock‑based compensation expense ​ $ 2,262 ​ $ 2,669 ​ $ 7,395 ​ $ 7,503 ​ ​ Stock options The table below summarizes activity related to stock options (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ average ​ ​ ​ ​ ​ ​ ​ average ​ remaining ​ Aggregate ​ ​ ​ ​ exercise ​ contractual ​ intrinsic Options ​ Shares ​ price ​ term ​ value Outstanding, December 31, 2020 6,684 ​ $ 6.88 7.96 ​ $ 1,582 Granted 3,205 ​ 3.47 ​ Exercised ​ (87) ​ ​ 1.53 ​ ​ ​ ​ ​ Forfeited and canceled (410) ​ 5.52 ​ Outstanding, September 30, 2021 ​ 9,392 ​ $ 5.83 ​ 7.98 ​ $ 30 Vested and expected to vest at September 30, 2021 ​ 9,392 ​ $ 5.83 ​ 7.98 ​ $ 30 Exercisable at September 30, 2021 4,456 ​ $ 7.14 6.88 ​ $ 30 ​ During the nine months ended September 30, 2021 and 2020, the Company granted 3.2 million and 2.4 million stock options, respectively and these options had a weighted-average grant-date fair value of $2.71 and $2.06 per share, respectively. The weighted-average grant-date fair value of options was determined using the Black-Scholes option-pricing model. The assumptions used in the Black-Scholes option-pricing model for options granted during the nine months ended September 30, 2021 were similar to those as described in the Annual Report, except for the manner in which the expected volatility was determined. The expected volatility for the Company’s options granted during the nine months ended September 30, 2021 is based on a weighted-average of the historical volatility of share values of publicly traded companies within the biotechnology industry which includes the historical volatility of the Company’s stock since the Company’s initial public offering. As of September 30, 2021, there was $14.9 million of total unrecognized stock-based compensation expense related to non-vested stock options which is expected to be recognized over a weighted-average period of 2.4 years. The options have a ten-year life and generally vest over a period of four years , subject to continuous employment. Restricted stock units ​ In June 2020 and May 2019, the Company issued an aggregate of 205,200 and 1,183,400 restricted stock units, respectively, to employees. The restricted stock units issued in 2020 vest ten months from the date of grant. The restricted stock units issued in 2019 vest two years from the date of grant. The Company at any time may accelerate the vesting of the restricted stock units. Such shares are not accounted for as outstanding until they vest. ​ The table below summarizes activity related to restricted stock units (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ average ​ ​ ​ ​ grant date ​ ​ ​ ​ fair value ​ ​ Shares ​ per share Unvested as of December 31, 2020 1,091 ​ $ 3.63 Issued — ​ $ — Vested (1,089) ​ ​ 3.63 Forfeited and canceled (2) ​ 3.63 Unvested as of September 30, 2021 — ​ $ — ​ ​ Non-cash restricted stock unit award expense recognized in the accompanying condensed statements of operations was $0.0 million and $0.6 million for the three months ended September 30, 2021 and 2020, respectively, and $0.8 million and $1.5 million for the nine months ended September 30, 2021 and 2020, respectively. There were no unvested restricted stock units as of September 30, 2021.

Warrants and derivative liabili

Warrants and derivative liability	9 Months Ended
	Sep. 30, 2021
Warrants and derivative liability
Warrants and derivative liability	9. Warrants and derivative liability ​ On September 15, 2021, the Company entered into the Loan Agreement with the Lender pursuant to which the Lender may provide the Company with term loans in an aggregate principal amount of up to $50.0 million. On September 15, 2021, in connection with the funding of the First Tranche Term Loan, the Company issued a warrant exercisable for 147,600 shares of the Company’s common stock at an exercise price of $2.29 per share. The warrant is immediately exercisable for 147,600 shares and expires on September 15, 2031. No warrants had been exercised as of September 30, 2021. Any shares of the Company’s common stock issued upon exercise of the warrant are permitted to be settled in unregistered shares. The warrant is classified as equity as it meets all the conditions under GAAP for equity classification. The Company has calculated the fair value of the warrant for initial measurement and reassesses whether equity classification for the warrant is appropriate upon any changes to the warrants or capital structure, at each balance sheet date. ​ ​ The Company determined that the fair value of the warrants issued in connection with the First Tranche Term Loan was $0.3 million. The specific assumptions used to determine the fair value of the warrants were as follows: ​ ​ ​ ​ ​ Expected volatility 95 % Expected dividends None ​ Expected term 5.00 Years ​ Risk-free rate 0.81 % ​ ​ The Company is conditionally obligated to issue a fixed number of additional warrants (“Additional Warrants”) in the amount of 344,398 shares upon the funding of the Second, Third and Fourth Tranche Term Loans with the same exercise price and contractual term. The contingent obligation to issue the Additional Warrants did not meet the derivative scope exception or equity classification criteria and were accounted for as a derivative liability. The contingently issuable Additional Warrants derivative liability had an initial fair value of $ million and was recorded as additional debt discount and as a separate derivative liability within other long-term liabilities in the condensed balance sheet. The Additional Warrants derivative liability will be remeasured each reporting period until settled or extinguished with subsequent changes in fair value recorded through other income (expense), net in the condensed statements of operations. The fair value of the Additional Warrants derivative liability was determined using a Black-Scholes option pricing model based on the same input assumptions above, with an additional assessment required for the probability that the Second, Third and Fourth Tranche Term Loans will be funded which would trigger the issuance of the Additional Warrants.

Net loss per share

Net loss per share	9 Months Ended
	Sep. 30, 2021
Net loss per share
Net loss per share	10. Net loss per share Basic and diluted net loss per share attributable to common stockholders was calculated as follows for the three and nine months ended September 30, 2021 and 2020 (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss attributable to common stockholders ​ $ (21,231) ​ $ (11,338) ​ $ (55,276) ​ $ (38,565) ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding—basic and diluted ​ 67,716 ​ 46,978 ​ 67,053 ​ 45,503 ​ Net loss per share attributable to common stockholders—basic and diluted ​ $ (0.31) ​ $ (0.24) ​ $ (0.82) ​ $ (0.85) ​ ​ The following common stock equivalents outstanding as of September 30, 2021 and 2020, were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands): ​ ​ ​ ​ ​ ​ ​ As of ​ ​ September 30, ​ 2021 2020 Stock options issued and outstanding 9,392 6,665 Unvested restricted stock ​ — ​ 1,128 Warrants ​ 148 ​ — Total 9,540 7,793 ​

Income taxes

Income taxes	9 Months Ended
	Sep. 30, 2021
Income taxes
Income taxes	11. Income taxes Deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are provided if based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company has evaluated the positive and negative evidence bearing upon the realizability of its deferred tax assets, including its net operating losses. Based on its history of operating losses, the Company believes that it is more likely than not that the benefit of its deferred tax assets will not be realized. Accordingly, the Company has provided a full valuation allowance for deferred tax assets as of September 30, 2021 and December 31, 2020. ​ ​

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and contingencies
Commitments and contingencies	12. Commitments and contingencies Contingencies From time to time, the Company may be subject to occasional lawsuits, investigations, and claims arising out of the normal conduct of business. The Company has no significant pending or threatened litigation as of September 30, 2021. Indemnifications In the normal course of business, the Company enters into contracts that contain a variety of indemnifications with its employees, licensors, suppliers and service providers. Further, the Company indemnifies its directors and officers who are, or were, serving at the Company’s request in such capacities. The Company’s maximum exposure under these arrangements is unknown at September 30, 2021. The Company does not anticipate recognizing any significant losses relating to these arrangements. Leases The Company enters into various non-cancelable, operating lease agreements for its facilities and equipment in order to conduct its operations. The Company expenses rent on a straight-line basis over the life of the lease and has recorded deferred rent on the Company’s balance sheets within both accrued expenses and other current liabilities and other long-term liabilities. Total rent expense, inclusive of lease incentives, under all the operating lease agreements amounted to $0.2 million and $0.3 million for the three months ended September 30, 2021 and 2020, respectively, and $0.6 million and $0.4 million for the nine months ended September 30, 2021 and 2020, respectively

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2021
Summary of significant accounting policies
Basis of presentation	Basis of presentation The condensed financial statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted from this report, as is permitted by such rules and regulations. The accompanying condensed financial statements reflect all adjustments consisting of normal, recurring adjustments that are necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Interim results are not necessarily indicative of results for a full year. Accordingly, these condensed financial statements should be read in conjunction with the financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “Annual Report”) filed with the SEC on March 24, 2021. From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”), or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s financial statements upon adoption. Under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), the Company meets the definition of an emerging growth company, and has elected the extended transition period for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply to private companies.
Use of estimates	Use of estimates The condensed financial statements are prepared in conformity with GAAP. This process requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.
Risk and uncertainties	Risk and uncertainties The Company’s future results of operations involve a number of risks and uncertainties. Factors that could affect the Company’s future operating results and cause actual results to vary materially from expectations include, but are not limited to, uncertainty of: the impact of COVID-19 on future clinical study results, the scope, timing, rate of progress, and expense of the Company’s ongoing as well as any additional preclinical studies, clinical studies, and other research and development activities, clinical study enrollment rate or design, the manufacturing of the Company’s product candidates, significant and changing government regulation, and the timing and receipt of any regulatory approvals. A novel strain of coronavirus (COVID-19) was first identified in December 2019, and subsequently declared a global pandemic by the World Health Organization on March 11, 2020. As a result of the outbreak, many companies have experienced disruptions in their operations and in markets served. On March 27, 2020, the Company suspended patient enrollment for certain ongoing Phase 2 clinical studies, including its NYX-2925 studies in painful diabetic peripheral neuropathy and fibromyalgia and its NYX-458 study in Parkinson’s disease cognitive impairment and dementia with Lewy bodies. The Company re-initiated enrollment in its NYX-2925 study in fibromyalgia in September 2020, in its NYX-2925 study in painful diabetic peripheral neuropathy in January 2021, and in its NYX-458 study in Parkinson’s disease cognitive impairment and dementia with Lewy bodies in March 2021. The Company has initiated some and may take additional temporary precautionary measures intended to help ensure the well-being of its employees and minimize business disruption. The Company considered the impact of COVID-19 on the assumptions and estimates used and determined that there were no material adverse impacts on the Company’s results of operations and financial position as of and for the nine months ended September 30, 2021. The full extent of the future impacts of COVID-19 on the Company’s operations is uncertain. Another prolonged outbreak could have a material adverse impact on financial results and business operations of the Company, including the availability of capital, timing and ability of the Company to complete certain clinical studies, and other efforts required to advance the development of its targets.
Term loans	Term loans When the Company issues debt with a conversion feature, it assesses whether the conversion feature meets the requirements to be treated as a derivative, as follows: (a) one or more underlyings, typically the price of the Company’s common stock; (b) one or more notional amounts or payment provisions or both, generally the number of shares upon conversion; (c) no initial net investment, which typically excludes the amount borrowed; and (d) net settlement provisions, which in the case of convertible debt generally means the stock received upon conversion can be readily sold for cash. An embedded equity-linked component that meets the definition of a derivative does not have to be separated from the host instrument if the component qualifies for the scope exception for certain contracts involving an issuer’s own equity. The scope exception applies if the contract is both (a) indexed to its own stock; and (b) classified in stockholders’ equity in its condensed balance sheet. If the conversion feature meets the requirements to be treated as a derivative, the conversion features is bifurcated and separately accounted for under ASC Topic 815.
Warrants	Warrants
Recently adopted accounting pronouncement and Recently issued accounting pronouncement	​ Recently adopted accounting pronouncement In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options and Derivatives and Hedging—Contracts in Entity’s Own Equity : Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity Recently issued accounting pronouncement In February 2016, the FASB issued ASU No. 2016-02, Leases leases using classification criteria that are substantially similar to the previous guidance. The new standard will be effective for the Company for annual reporting periods beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022, and early adoption is permitted. The Company anticipates that the adoption of this standard will have an impact on its balance sheet due to the recognition of right-of-use assets and lease liabilities; however, the Company is currently evaluating the impact that the adoption of ASU 2016-02 may have on its condensed financial statements.

Supplemental financial inform_2

Supplemental financial information (Tables)	9 Months Ended
	Sep. 30, 2021
Supplemental financial information
Schedule of cash, cash equivalents and restricted cash	. The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the balance sheets that sum to the total of the same such amounts shown in the condensed statements of cash flows (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Cash and cash equivalents ​ $ 125,290 ​ $ 141,028 ​ Short-term and long-term restricted cash ​ 197 ​ 271 ​ Total cash, cash equivalents, and restricted cash shown in the statements of cash flows ​ $ 125,487 ​ $ 141,299 ​
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Prepaid clinical $ 2,719 ​ $ 6,052 Prepaid insurance ​ ​ 1,539 ​ ​ 1,177 ​ Prepaid manufacturing costs ​ ​ 2,240 ​ ​ 613 ​ Other prepaid expenses and current assets 422 ​ 298 Total prepaid expenses and other current assets $ 6,920 ​ $ 8,140
Schedule of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ ​ 2021 2020 Employee-related expenses ​ $ 1,654 ​ $ 2,039 ​ Development costs and sponsored research ​ 524 ​ 897 ​ Clinical trials ​ 264 ​ 195 ​ Professional services ​ ​ 179 ​ ​ 90 ​ Other ​ 545 ​ 153 ​ Total accrued expenses and other current liabilities ​ $ 3,166 ​ $ 3,374 ​

Fair value measurements (Tables

Fair value measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair value measurements
Schedule of assets and liabilities measured at fair value	Assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ ​ ​ ​ ​ ​ ​ 2021 Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Money market funds, included in cash and cash equivalents ​ $ 123,813 ​ $ 123,813 ​ $ — ​ $ — Money market funds, included in restricted cash ​ ​ 197 ​ ​ 197 ​ — ​ — Total Assets ​ $ 124,010 ​ $ 124,010 ​ $ — ​ $ — Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Derivative liability, included in other long-term liabilities ​ $ 287 ​ $ — ​ $ — ​ $ 287 Total Liabilities ​ $ 287 ​ $ — ​ $ — ​ $ 287 ​ Assets measured at fair value on a recurring basis as of December 31, 2020 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ ​ ​ ​ ​ ​ 2020 Level 1 Level 2 Level 3 Assets ​ ​ ​ ​ Money market funds, included in cash and cash equivalents ​ $ 140,283 ​ $ 140,283 ​ $ — ​ $ — Money market funds, included in restricted cash ​ ​ 179 ​ ​ 179 ​ — ​ — Money market funds, included in other assets ​ ​ 92 ​ 92 ​ — ​ — Total Assets ​ $ 140,554 ​ $ 140,554 ​ $ — ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Property and equipment, net (Ta

Property and equipment, net (Tables)	9 Months Ended
	Sep. 30, 2021
Property and equipment, net
Schedule of property and equipment, net	Property and equipment are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ As of ​ ​ ​ September 30, ​ December 31, ​ ​ ​ 2021 2020 Computer software and equipment ​ $ — $ 15 ​ Office equipment and furniture ​ 152 ​ 176 ​ Laboratory equipment ​ 401 ​ 1,801 ​ Leasehold improvements ​ 979 ​ 1,062 ​ Less accumulated depreciation ​ (1,289) ​ (2,144) ​ Property and equipment, net ​ $ 243 ​ $ 910 ​

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt
Schedule of maturities of long-term debt	Future principal debt payments of the term loans funded as of September 30, 2021 are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ 2022 ​ $ — 2023 ​ 1,745 2024 ​ 7,333 2025 ​ 5,922 Total principal payments ​ 15,000 Exit Fee ​ ​ 968 Total principal payments and Exit Fee ​ ​ 15,968 Less: Unamortized debt discount related to warrants ​ ​ (540) Less: Unamortized debt discount related to Exit Fee ​ ​ (956) Less: Unamortized debt issuance costs ​ (434) Term loan, non-current ​ $ 14,038

Stock incentive plans (Tables)

Stock incentive plans (Tables)	9 Months Ended
	Sep. 30, 2021
Stock incentive plans
Allocation of stock-based compensation expenses	Non-cash stock-based compensation expense recognized in the accompanying condensed statements of operations relating to stock options, restricted stock awards, and restricted stock units for the three and nine months ended September 30, 2021 and 2020 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 Research and development ​ $ 634 ​ $ 645 ​ $ 2,047 ​ $ 1,660 ​ General and administrative ​ 1,628 ​ 2,024 ​ 5,348 ​ 5,843 ​ Total stock‑based compensation expense ​ $ 2,262 ​ $ 2,669 ​ $ 7,395 ​ $ 7,503 ​
Schedule of restricted stock unit activity	The table below summarizes activity related to restricted stock units (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ average ​ ​ ​ ​ grant date ​ ​ ​ ​ fair value ​ ​ Shares ​ per share Unvested as of December 31, 2020 1,091 ​ $ 3.63 Issued — ​ $ — Vested (1,089) ​ ​ 3.63 Forfeited and canceled (2) ​ 3.63 Unvested as of September 30, 2021 — ​ $ —
Summary of stock option activity	The table below summarizes activity related to stock options (in thousands, except per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ ​ ​ ​ ​ ​ Weighted ‑ ​ average ​ ​ ​ ​ ​ ​ ​ average ​ remaining ​ Aggregate ​ ​ ​ ​ exercise ​ contractual ​ intrinsic Options ​ Shares ​ price ​ term ​ value Outstanding, December 31, 2020 6,684 ​ $ 6.88 7.96 ​ $ 1,582 Granted 3,205 ​ 3.47 ​ Exercised ​ (87) ​ ​ 1.53 ​ ​ ​ ​ ​ Forfeited and canceled (410) ​ 5.52 ​ Outstanding, September 30, 2021 ​ 9,392 ​ $ 5.83 ​ 7.98 ​ $ 30 Vested and expected to vest at September 30, 2021 ​ 9,392 ​ $ 5.83 ​ 7.98 ​ $ 30 Exercisable at September 30, 2021 4,456 ​ $ 7.14 6.88 ​ $ 30

Warrants and derivative liabi_2

Warrants and derivative liability (Tables)	9 Months Ended
	Sep. 30, 2021
Warrants and derivative liability
Schedule of fair value of the warrants or rights	​ ​ ​ ​ ​ Expected volatility 95 % Expected dividends None ​ Expected term 5.00 Years ​ Risk-free rate 0.81 %

Net loss per share (Tables)

Net loss per share (Tables)	9 Months Ended
	Sep. 30, 2021
Net loss per share
Schedule of basic and diluted net loss per share attributable to common stockholders calculation	Basic and diluted net loss per share attributable to common stockholders was calculated as follows for the three and nine months ended September 30, 2021 and 2020 (in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Nine months ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net loss attributable to common stockholders ​ $ (21,231) ​ $ (11,338) ​ $ (55,276) ​ $ (38,565) ​ Denominator: ​ ​ ​ ​ ​ ​ ​ Weighted-average common shares outstanding—basic and diluted ​ 67,716 ​ 46,978 ​ 67,053 ​ 45,503 ​ Net loss per share attributable to common stockholders—basic and diluted ​ $ (0.31) ​ $ (0.24) ​ $ (0.82) ​ $ (0.85) ​
Schedule of anti-dilutive securities excluded from computation of diluted net loss per share	The following common stock equivalents outstanding as of September 30, 2021 and 2020, were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive (in thousands): ​ ​ ​ ​ ​ ​ ​ As of ​ ​ September 30, ​ 2021 2020 Stock options issued and outstanding 9,392 6,665 Unvested restricted stock ​ — ​ 1,128 Warrants ​ 148 ​ — Total 9,540 7,793

Organization (Details)

Organization (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 16, 2021	Oct. 26, 2020	Jan. 14, 2020	Jul. 01, 2019	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 15, 2021	Dec. 31, 2020
Organization
Number of common stock shares newly issued		16,100,000	11,691,666
Public offering price of the shares sold		$ 3	$ 3
Proceeds from public offering, net of underwriters' discounts		$ 45,100	$ 33,300			$ 14,615	$ 5,799
Cash and cash equivalents					$ 125,290	$ 125,290		$ 125,290		$ 141,028
Expected period of sufficient funds for planned operations						12 months
ATM Offering
Organization
Number of common stock shares newly issued						3,629,458		5,120,940
Public offering price of the shares sold					$ 3.99	$ 3.99		$ 3.99
Proceeds from public offering, net of underwriters' discounts						$ 14,500		$ 20,400
Threshold shares agreed to be sold	$ 50,000			$ 50,000
Sales commission percentage	3.00%			3.00%
At Market Offering Program 2021 [Member]
Organization
Number of common stock shares newly issued					0
Loan agreement
Organization
Maximum borrowing capacity									$ 50,000
First Tranche Term Loan
Organization
Maximum borrowing capacity									15,000
Principal amount									$ 15,000

Supplemental financial inform_3

Supplemental financial information - Cash, cash equivalents and restricted cash (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Supplemental financial information
Cash and cash equivalents	$ 125,290	$ 141,028
Short-term and long-term restricted cash	197	271
Total cash, cash equivalents, and restricted cash shown in the statements of cash flows	$ 125,487	$ 141,299	$ 104,081	$ 99,194

Supplemental financial inform_4

Supplemental financial information - Prepaid expenses and other current assets (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Supplemental financial information
Prepaid clinical	$ 2,719	$ 6,052
Prepaid insurance	1,539	1,177
Prepaid manufacturing costs	2,240	613
Other prepaid expenses and current assets	422	298
Total prepaid expenses and other current assets	$ 6,920	$ 8,140

Supplemental financial inform_5

Supplemental financial information - Accrued expenses and other current liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Supplemental financial information
Employee-related expenses	$ 1,654	$ 2,039
Development costs and sponsored research	524	897
Clinical trials	264	195
Professional services	179	90
Other	545	153
Total accrued expenses and other current liabilities	$ 3,166	$ 3,374

Research collaboration agreem_2

Research collaboration agreement with Allergan (Details) $ in Thousands	Jul. 24, 2015USD ($)Option	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Research collaboration agreement with Allergan
Research and development		$ 16,278	$ 6,630	$ 41,388	$ 26,049
RCA
Research collaboration agreement with Allergan
Agreement term	180 days
Number of options to acquire molecules | Option	3
Payment of option exercise fee	$ 1,000
Milestone payment				1,000
Capitalized contract costs		0		0
Research and development		$ 0	$ 600	$ 0	$ 3,100
Development activities reimbursement percentage		50.00%	50.00%	50.00%	50.00%
Development activities expenses reimbursed		$ 0	$ 300	$ 0	$ 1,600

Fair value measurements (Detail

Fair value measurements (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair value measurements
Total Assets	$ 124,010	$ 140,554
Derivative Liability	287
Total Liabilities	287
Money market funds, included in cash and cash equivalents
Fair value measurements
Money market funds	123,813	140,283
Money market funds, included in restricted cash
Fair value measurements
Money market funds	197	179
Money market funds, included in other assets
Fair value measurements
Money market funds		92
Level 1
Fair value measurements
Total Assets	124,010	140,554
Level 1 | Money market funds, included in cash and cash equivalents
Fair value measurements
Money market funds	123,813	140,283
Level 1 | Money market funds, included in restricted cash
Fair value measurements
Money market funds	197	179
Level 1 | Money market funds, included in other assets
Fair value measurements
Money market funds		$ 92
Level 3
Fair value measurements
Derivative Liability	287
Total Liabilities	$ 287

Property and equipment, net (De

Property and equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Property and equipment
Less accumulated depreciation	$ (1,289)		$ (1,289)		$ (2,144)
Property and equipment, net	243		243		910
Depreciation	100	$ 100	500	$ 400
Computer software and equipment
Property and equipment
Property and equipment, gross					15
Office equipment and furniture
Property and equipment
Property and equipment, gross	152		152		176
Laboratory equipment
Property and equipment
Property and equipment, gross	401		401		1,801
Leasehold improvements
Property and equipment
Property and equipment, gross	$ 979		$ 979		$ 1,062

Debt (Details)

Debt (Details) $ / shares in Units, $ in Millions	Sep. 15, 2021USD ($)tranche$ / shares	Sep. 30, 2021USD ($)	Sep. 30, 2021USD ($)
Loan agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 50
Number of tranches | tranche	4
Interest rate	7.95%
Term of debt	48 months
Final fee percentage	6.45%
Origination fee	0.80%
Conversion price | $ / shares	$ 4.25
Equity offering proceeds threshold to set debt conversion price	$ 20
Additional default interest rate	5.00%
Loan agreement | Minimum
Debt Instrument [Line Items]
Threshold amount for conversion	$ 4
Loan agreement | Maximum
Debt Instrument [Line Items]
Interest expense		$ 0.1	$ 0.1
Loan agreement | Prepayment occurs on or before 24 months after initial funding
Debt Instrument [Line Items]
Prepayment penalty percentage	3.00%
Threshold period in which prepayment occurs	24 months
Loan agreement | Prepayment occurs more than 24 months and on or before 36 months after initial funding
Debt Instrument [Line Items]
Prepayment penalty percentage	2.00%
Loan agreement | Prepayment occurs more than 24 months and on or before 36 months after initial funding | Minimum
Debt Instrument [Line Items]
Threshold period in which prepayment occurs	24 months
Loan agreement | Prepayment occurs more than 24 months and on or before 36 months after initial funding | Maximum
Debt Instrument [Line Items]
Threshold period in which prepayment occurs	36 months
Loan agreement | Prepayment occurs more than 36 months after initial funding
Debt Instrument [Line Items]
Prepayment penalty percentage	1.00%
Threshold period in which prepayment occurs	36 months
Loan agreement | Prime
Debt Instrument [Line Items]
Spread (as a percent)	4.70%
First Tranche Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 15
Principal amount	$ 15
Period for which interest only payment is permitted	24 months
Additional period for which interest only payment can be extended	12 months
Second Tranche Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 10
Third Tranche Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	10
Third Tranche Term Loan For 15 Million [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 15

Debt - Future Principal Debt Pa

Debt - Future Principal Debt Payments on The Loan Payable (Details) $ in Thousands	Sep. 30, 2021USD ($)
Long-term Debt, Rolling Maturity [Abstract]
2023	$ 1,745
2024	7,333
2025	5,922
Total principal payments	15,000
Exit Fee	968
Total principal payments and exit fee	15,968
Less: Unamortized debt discount related to warrants	(540)
Less: Unamortized debt discount related to Exit Fee	(956)
Less: Unamortized debt issuance costs	(434)
Note payable	$ 14,038

Stock incentive plans (Details)

Stock incentive plans (Details) - 2018 Plan - shares	Jan. 01, 2021	Sep. 30, 2021
Stock incentive plans
Percentage of increase in number of shares outstanding		4.00%
Common stock added to plan	2,530,267
Awards available for future grant		1,981,378

Stock incentive plans - Stock-b

Stock incentive plans - Stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,262	$ 2,669	$ 7,395	$ 7,503
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	634	645	2,047	1,660
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,628	$ 2,024	$ 5,348	$ 5,843

Stock incentive plans - Activit

Stock incentive plans - Activity related to stock options (Details) - Stock options - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Shares
Outstanding, at the beginning of the period	6,684
Granted	3,205	2,400
Exercised	(87)
Forfeited and canceled	(410)
Outstanding, at the end of the period	9,392		6,684
Vested and expected to vest	9,392
Exercisable	4,456
Weighted-average exercise price
Outstanding, at the beginning of the period	$ 6.88
Granted	3.47
Exercised	1.53
Forfeited and canceled	5.52
Outstanding, at the end of the period	5.83		$ 6.88
Vested and expected to vest	5.83
Exercisable at the end of the period	$ 7.14
Weighted-average remaining contractual term
Weighted-average remaining contractual term	7 years 11 months 23 days		7 years 11 months 15 days
Vested and expected to vest	7 years 11 months 23 days
Exercisable	6 years 10 months 17 days
Aggregate intrinsic value
Outstanding, at the beginning of the period	$ 1,582
Outstanding, at the end of the period	30		$ 1,582
Vested and expected to vest	30
Exercisable	$ 30
Weighted-average grant date fair value per share	$ 2.71	$ 2.06
Unrecognized stock-based compensation related to non-vested stock options	$ 14,900
Expenses recognized over a weighted-average period (in years)	2 years 4 months 24 days
Term of award	10 years
Vesting period	4 years

Stock incentive plans - Restric

Stock incentive plans - Restricted stock units (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Jun. 30, 2020	May 31, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Weighted-average grant date fair value per share
Non-cash restricted stock unit award expense recognized			$ 2,262	$ 2,669	$ 7,395	$ 7,503
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	10 months	2 years
Shares
Unvested at beginning of period (in shares)					1,091,000
Issued (in shares)	205,200	1,183,400
Vested					(1,089,000)
Forfeited and canceled (in shares)					(2,000)
Weighted-average grant date fair value per share
Unvested at beginning of period (in dollars per share)					$ 3.63
Vested (in dollars per share)					3.63
Forfeited and canceled (in dollars per share)					$ 3.63
Non-cash restricted stock unit award expense recognized			0	$ 600	$ 800	$ 1,500
Unrecognized compensation related to unvested restricted stock units			$ 0		$ 0

Warrants and derivative liabi_3

Warrants and derivative liability (Details) $ / shares in Units, $ in Millions	Sep. 15, 2021USD ($)item$ / sharesshares	Sep. 30, 2021USD ($)
Class of Warrant or Right [Line Items]
Warrants exercised | item	0
Expected volatility
Class of Warrant or Right [Line Items]
Warrants and rights outstanding, measurement input	95
Expected dividends
Class of Warrant or Right [Line Items]
Warrants and rights outstanding, measurement input	0
Expected term
Class of Warrant or Right [Line Items]
Warrants and rights outstanding, measurement input	5
Risk-free rate
Class of Warrant or Right [Line Items]
Warrants and rights outstanding, measurement input	0.81
Loan agreement
Class of Warrant or Right [Line Items]
Maximum borrowing capacity	$ 50
First Tranche Term Loan
Class of Warrant or Right [Line Items]
Principal amount	15
Maximum borrowing capacity	$ 15
Issued warrant exercisable | shares	147,600
Exercise price | $ / shares	$ 2.29
Derivative Liability	$ 0.3
Additional Warrants
Class of Warrant or Right [Line Items]
Warrants obligated to be issued upon the funding of the second, third and fourth tranche term loans | item	344,398
Derivative Liability		$ 0.3

Net loss per share (Details)

Net loss per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net loss attributable to common stockholders	$ (21,231)	$ (11,338)	$ (55,276)	$ (38,565)
Denominator:
Weighted-average common shares outstanding-basic and diluted	67,716	46,978	67,053	45,503
Net loss per share attributable to common stockholders-basic and diluted	$ (0.31)	$ (0.24)	$ (0.82)	$ (0.85)

Net loss per share - Anti-dilut

Net loss per share - Anti-dilutive securities (Details) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Common stock equivalents outstanding excluded from the computation of diluted net loss per share attributable to common stockholders
Outstanding anti-dilutive securities excluded from computation of diluted net loss per share	9,540	7,793
Stock options
Common stock equivalents outstanding excluded from the computation of diluted net loss per share attributable to common stockholders
Outstanding anti-dilutive securities excluded from computation of diluted net loss per share	9,392	6,665
Unvested restricted stock units
Common stock equivalents outstanding excluded from the computation of diluted net loss per share attributable to common stockholders
Outstanding anti-dilutive securities excluded from computation of diluted net loss per share		1,128
Warrants
Common stock equivalents outstanding excluded from the computation of diluted net loss per share attributable to common stockholders
Outstanding anti-dilutive securities excluded from computation of diluted net loss per share	148

Commitments and contingencies (

Commitments and contingencies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Commitments and contingencies
Rent expense inclusive of lease incentives	$ 0.2	$ 0.3	$ 0.6	$ 0.4