Eton Pharmaceuticals (ETON) 10-K 16 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Mar. 08, 2021	Jun. 30, 2020
Cover [Abstract]
Entity Registrant Name	Eton Pharmaceuticals, Inc.
Entity Central Index Key	0001710340
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filer	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Public Float			$ 64,200
Entity Common Stock, Shares Outstanding		24,407,616
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020

Balance Sheets

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 21,295	$ 12,066
Accounts receivable, net	48	473
Inventories	1,242	380
Prepaid expenses and other current assets	2,116	2,090
Total current assets	24,701	15,009
Property and equipment, net	811	1,117
Intangible assets, net	575	725
Operating lease right-of-use assets, net	192	160
Other long-term assets, net	40	61
Total assets	26,319	17,072
Current liabilities:
Accounts payable	2,344	575
PPP loan, current portion	280
Accrued liabilities	1,170	1,388
Total current liabilities	3,794	1,963
Long-term debt, net of discount and including accrued fees	6,532	4,540
Long-term portion of PPP and EIDL loans	231
Operating lease liabilities, net of current portion	99	19
Total liabilities	10,656	6,522
Commitments and contingencies (Note 15)
Stockholders' equity
Common stock, $0.001 par value; 50,000,000 shares authorized as of December 31, 2020 and 2019; 24,312,808 and 17,877,486 shares issued and outstanding at December 31, 2020 and 2019, respectively	24	18
Additional paid-in capital	107,797	74,720
Accumulated deficit	(92,158)	(64,188)
Total stockholders' equity	15,663	10,550
Total liabilities and stockholders' equity	$ 26,319	$ 17,072

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	24,312,808	17,877,486
Common stock, shares outstanding	24,312,808	17,877,486

Statements of Operations

Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total net revenues	$ 39	$ 959
Cost of product sales	286	453
Gross (loss) profit	(247)	506
Operating expenses:
Research and development	14,104	11,555	5,627
General and administrative	12,760	7,552	4,694
Total operating expenses	26,864	19,107	10,321
Loss from operations	(27,111)	(18,601)	(10,321)
Other income (expense):
Interest and other income (expense), net	(859)	281	164
Change in fair value of warrant liability			(2,583)
Loss before income tax expense	(27,970)	(18,320)	(12,740)
Income tax expense
Net loss	(27,970)	(18,320)	(12,740)
Accrued dividends on redeemable convertible preferred stock			(1,048)
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs			(1,694)
Deemed dividends for beneficial conversion feature of redeemable convertible preferred stock			(21,747)
Net loss attributable to common stockholders	$ (27,970)	$ (18,320)	$ (37,229)
Net loss per share attributable to common stockholders, basic and diluted	$ (1.33)	$ (1.03)	$ (5.80)
Weighted average number of common shares outstanding, basic and diluted	21,010,000	17,761,000	6,418,000
Product Sales, Net [Member]
Revenues:
Total net revenues	$ 39	$ 459
Licensing Revenue [Member]
Revenues:
Total net revenues		$ 500

Statements of Redeemable Conver

Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Redeemable Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2017	$ 19,004	$ 6	$ 1,759	$ (8,639)	$ (6,874)
Balance, shares at Dec. 31, 2017	6,685,082	6,000,000
Stock-based compensation			1,850		1,850
Stock-based compensation, shares		218,980
Accrued dividends on redeemable convertible preferred stock	$ 1,048			(1,048)	(1,048)
Accrued dividends on redeemable convertible preferred stock, shares
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs	$ 1,694			(1,694)	(1,694)
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs, shares
Issuance of common stock in connection with initial public offering, including underwriter's over-allotment, net of offering costs and underwriter's discount		$ 4	21,956		21,960
Issuance of common stock in connection with initial public offering, including underwriter's over-allotment, net of offering costs and underwriter's discount, shares		4,140,000
Conversion of redeemable convertible preferred stock (including accrued dividends) to common stock in connection with initial public offering	$ (21,746)	$ 8	21,738		21,746
Conversion of redeemable convertible preferred stock (including accrued dividends) to common stock in connection with initial public offering, shares	(6,685,082)	7,248,948
Reclassification of common stock warrants from liability to additional paid-in-capital			3,103		3,103
Beneficial conversion feature on redeemable convertible preferred stock			21,747	(21,747)
Stock option exercises
Stock option exercises, shares
Common stock issued under employee stock purchase plan
Common stock issued under employee stock purchase plan, shares
Stock warrant exercises
Stock warrant exercises, shares
Proceeds from sales of common stock, net of offering costs
Proceeds from sales of common stock, net of offering costs, shares
Issuance of common stock for product candidate licensing rights
Issuance of common stock for product candidate licensing rights, shares
Relative fair value of warrants to purchase common stock issued in connection with debt
Net loss				(12,740)	(12,740)
Balance at Dec. 31, 2018		$ 18	72,153	(45,868)	26,303
Balance, shares at Dec. 31, 2018		17,607,928
Stock-based compensation			1,888		1,888
Stock-based compensation, shares
Accrued dividends on redeemable convertible preferred stock
Accrued dividends on redeemable convertible preferred stock, shares
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs, shares
Issuance of common stock in connection with initial public offering, including underwriter's over-allotment, net of offering costs and underwriter's discount
Issuance of common stock in connection with initial public offering, including underwriter's over-allotment, net of offering costs and underwriter's discount, shares
Conversion of redeemable convertible preferred stock (including accrued dividends) to common stock in connection with initial public offering
Conversion of redeemable convertible preferred stock (including accrued dividends) to common stock in connection with initial public offering, shares
Reclassification of common stock warrants from liability to additional paid-in-capital
Beneficial conversion feature on redeemable convertible preferred stock
Stock option exercises			214		214
Stock option exercises, shares		167,622
Common stock issued under employee stock purchase plan			239		239
Common stock issued under employee stock purchase plan, shares		44,885
Stock warrant exercises
Stock warrant exercises, shares		57,051
Proceeds from sales of common stock, net of offering costs
Proceeds from sales of common stock, net of offering costs, shares
Issuance of common stock for product candidate licensing rights
Issuance of common stock for product candidate licensing rights, shares
Relative fair value of warrants to purchase common stock issued in connection with debt			226		226
Net loss				(18,320)	(18,320)
Balance at Dec. 31, 2019		$ 18	74,720	(64,188)	10,550
Balance, shares at Dec. 31, 2019		17,877,486
Stock-based compensation			2,576		2,576
Stock-based compensation, shares		15,190
Accrued dividends on redeemable convertible preferred stock
Accrued dividends on redeemable convertible preferred stock, shares
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs, shares
Issuance of common stock in connection with initial public offering, including underwriter's over-allotment, net of offering costs and underwriter's discount
Issuance of common stock in connection with initial public offering, including underwriter's over-allotment, net of offering costs and underwriter's discount, shares
Conversion of redeemable convertible preferred stock (including accrued dividends) to common stock in connection with initial public offering
Conversion of redeemable convertible preferred stock (including accrued dividends) to common stock in connection with initial public offering, shares
Reclassification of common stock warrants from liability to additional paid-in-capital
Beneficial conversion feature on redeemable convertible preferred stock
Stock option exercises			255		255
Stock option exercises, shares		194,878
Common stock issued under employee stock purchase plan			112		112
Common stock issued under employee stock purchase plan, shares		25,780
Stock warrant exercises
Stock warrant exercises, shares
Proceeds from sales of common stock, net of offering costs		$ 6	28,776		28,782
Proceeds from sales of common stock, net of offering costs, shares		5,820,000
Issuance of common stock for product candidate licensing rights			1,264		1,264
Issuance of common stock for product candidate licensing rights, shares		379,474
Relative fair value of warrants to purchase common stock issued in connection with debt			94		94
Net loss				(27,970)	(27,970)
Balance at Dec. 31, 2020		$ 24	$ 107,797	$ (92,158)	$ 15,663
Balance, shares at Dec. 31, 2020		24,312,808

Statements of Cash Flows

Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (27,970)	$ (18,320)	$ (12,740)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	2,576	1,888	1,850
Common stock issued for product candidate licensing rights	1,264
Depreciation and amortization	651	447	63
Debt discount amortization	121	16
Change in fair value of warrant liability			2,583
Changes in operating assets and liabilities:
Accounts receivable	425	(473)
Inventories	(862)	(380)
Prepaid expenses and other assets	(20)	(1,361)	(663)
Accounts payable	1,769	(377)	413
Accrued liabilities	(300)	534	349
Net cash used in operating activities	(22,346)	(18,026)	(8,145)
Cash used in investing activities
Purchases of property and equipment	(50)	(1,096)	(236)
Purchase of product licensing rights		(750)
Net cash used in investing activities	(50)	(1,846)	(236)
Cash flows from financing activities
Proceeds from issuance of long-term debt, net of issuance costs	1,965	4,750
Proceeds from initial public offering, net of underwriting discounts and commissions			22,803
Payments of initial public offering costs			(843)
Proceeds from sales of common stock, net of offering costs	28,782
Proceeds from PPP and EIDL loans	511
Proceeds from employee stock purchase plan and stock option exercises	367	453
Net cash provided by financing activities	31,625	5,203	21,960
Change in cash and cash equivalents	9,229	(14,669)	13,579
Cash and cash equivalents at beginning of year	12,066	26,735	13,156
Cash and cash equivalents at end of year	21,295	12,066	26,735
Supplemental disclosures of cash flow information
Cash paid for interest	797
Cash paid for income taxes
Supplemental disclosures of non-cash investing and financing activities:
Accrued dividends on redeemable convertible preferred stock			1,048
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs			1,694
Relative fair value of common stock warrants issued in connection with debt	94	226
Purchase of equipment included in accounts payable			469
Right-of-use assets obtained in exchange for lease liabilities	195
Beneficial conversion feature on redeemable convertible preferred stock			21,747
Reclassification of common stock warrants from liability to additional paid-in-capital			$ 3,103

Company Overview

Company Overview	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company Overview	Note 1 — Company Overview Eton Pharmaceuticals, Inc. (“Eton” or the “Company”) was incorporated as a Delaware “C” corporation on April 27, 2017 and was initially set up as a wholly-owned subsidiary of Harrow Health, Inc. (“Harrow”, fka Imprimis Pharmaceuticals, Inc.). In June 2017, the Company raised $20,055 in start-up capital through a private sale of preferred stock and a separate management team was then established for Eton with its corporate offices located in Deer Park, Illinois. In November 2018, the Company completed an initial public offering (the “IPO”) and received net proceeds of $21,960, after deducting underwriting discounts and commissions and offering-related expenses. In November 2019, the Company entered into a credit agreement and received net proceeds of $4,750 and in August 2020 the Company received net proceeds of $1,965 under the credit agreement (see Note 5). In March and April 2020, Eton received net proceeds of $7,756 from the sale of shares of its common stock and in October 2020, the Company received net proceeds of $21,026 from a public offering for its shares at an offering price of $7.00 per share (see Note 7). Eton is a specialty pharmaceutical company focused on developing, acquiring, and commercializing innovative products. Eton is primarily focused on hospital injectable and pediatric rare disease products. The Company seeks to improve the formula, delivery system, or safety of existing molecules in order to address unmet patient needs. Eton pursues what it perceives to be low-risk product candidates where existing published literature, historical clinical trials, or physician usage has established safety and/or efficacy of the molecule, thereby reducing the incremental clinical burden required for the Company to bring the product to patients. The Company’s Biorphen® product was approved by the FDA in October 2019 and sales commenced for this product at the end of 2019. Eton’s EM-100 product was sold to Bausch Health and the product was approved by the FDA in September 2020. Bausch Health launched this product under the name of Alaway® Preservative Free in January 2021 and Eton will receive royalties from the sale of the product. In addition, the Company acquired the licensing rights to Alkindi Sprinkle and this product was approved by the FDA in October 2020 and launched in December 2020.

Liquidity Considerations

Liquidity Considerations	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity Considerations	Note 2 — Liquidity Considerations As of December 31, 2020, the Company had an accumulated deficit of $92,158 and for the year ended December 31, 2020 the Company used net cash in operating activities of $22,346. To date, the Company has generated limited revenues from three products, but expects further growth in 2021 and beyond in accordance with additional market penetration from these products plus revenues from licensing and additional products where it anticipates FDA approval. The Company currently believes its existing cash and cash equivalents of $21,295 as of December 31, 2020 augmented by the $9,500 of proceeds received from the sale of three neurology products in February 2021 (see Note 16 — Subsequent Events), will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next twelve months from the date of issuance of these financial statements. This estimate is based on the Company’s current assumptions, including assumptions relating to estimated sales and its ability to manage its spending. The Company could use its available capital resources sooner than currently expected. Accordingly, the Company could seek to obtain additional capital through equity financings, the issuance of debt or other arrangements. However, there can be no assurance that the Company will be able to raise additional capital if needed or under acceptable terms, if at all. The sale of additional equity may dilute existing stockholders and newly issued shares may contain senior rights and preferences compared to currently outstanding common shares. The Company’s existing long-term debt obligation contains covenants and limits the Company’s ability to pay dividends or make other distributions to stockholders. If the Company experiences delays in product sales growth and completing its product development and obtaining regulatory approval for its other product candidates and is unable to obtain such additional financing, operations would need to be scaled back or discontinued.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3 — Summary of Significant Accounting Policies Basis of Presentation The Company has prepared the accompanying financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, provisions for uncollectible receivables and sales returns, valuation of inventories, useful lives of assets and the impairment of property and equipment, the accrual of research and development expenses and the valuation of common stock, stock options, warrants and derivative instruments. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates or assumptions. Segment Information The Company operates the business on the basis of a single reportable segment, which is the business of developing and commercializing prescription drug products. The Company’s chief operating decision-maker is the Chief Executive Officer (“CEO”), who evaluates the Company as a single operating segment. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. All cash and cash equivalents are held in U.S. financial institutions or invested in short-term U.S. treasury bills. Cash equivalents consist of an interest-bearing checking account and a U.S. treasury bill. From time to time, amounts deposited with its bank exceed federally insured limits. The Company believes the associated credit risk to be minimal. Accounts Receivable Accounts receivable are recorded at the invoiced amount and are non-interest bearing. Accounts receivable are recorded net of allowances for doubtful accounts, cash discounts for prompt payment, distribution fees, chargebacks and returns and allowances. The total for these reserves amounted to $71 and $116 as of December 31, 2020 and 2019, respectively. Inventories The Company values its inventories at the lower of cost or net realizable value using the first-in, first-out method of valuation. The Company reviews its inventories for potential excess or obsolete issues on an ongoing basis and will record a write-down if an impairment is identified. Inventories at December 31, 2020 and 2019 consist solely of purchased finished goods. At December 31, 2020, inventories are shown net of a slow-moving reserve for its Biorphen product of $623 due to the risk of expiry before this entire stock of inventories is sold. There was no inventory reserve at December 31, 2019. Property and Equipment Property and equipment are stated at cost. Depreciation of property and equipment is computed utilizing the straight-line method based on the following estimated useful lives. Computer hardware and software is depreciated over three years. Equipment, furniture and fixtures is depreciated over five years. Leasehold improvements are amortized over their estimated useful lives or the remaining lease term, whichever is shorter. Construction in progress is capitalized but not depreciated until it is placed into service. Maintenance and repairs are charged to expense as incurred, while renewals and improvements are capitalized. Intangible Assets The Company capitalizes payments it makes for licensed products when the payment is based on FDA approval for the product and the cost is recoverable based on expected future cash flows from the product. The cost is amortized on a straight-line basis over the estimated useful life of the product commencing on the approval date in accordance with Accounting Standards Codification (“ASC”) 350 — Intangibles - Goodwill and Other. A $750 payment related to the approval of the Company’s Biorphen product in 2019 has been capitalized and that cost is being amortized over five years. The intangible assets, net on the Company’s balance sheet reflected $175 and $25 of accumulated amortization as of December 31, 2020 and 2019, respectively. The Company recorded amortization expense of $150 and $25 for the years ended December 31, 2020 and 2019, respectively and will record amortization expense of $150 per year for this intangible asset for 2021 through 2023 and then $125 in 2024 when it will be fully amortized. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the Company’s statements of operations for the amount by which the carrying amount of the asset exceeds the fair value of the asset. No impairment was recognized during the years ended December 31, 2020, 2019 and 2018. Debt Issuance Costs and Debt Discount and Detachable Debt-Related Warrants Costs incurred to issue debt are deferred and recorded as a reduction to the debt balance in the accompanying balance sheets. The Company amortizes debt issuance costs over the expected term of the related debt using the effective interest method. Debt discounts relate to the relative fair value of warrants issued in conjunction with the debt and are also recorded as a reduction to the debt balance and accreted over the expected term of the debt to interest expense using the effective interest method. Classification and Accretion of Redeemable Convertible Preferred Stock Prior to the Company’s IPO in November 2018, the Company classified the Series A Preferred outside of stockholders’ equity (deficit) because the shares contained certain redemption features that were not solely within the control of the Company. The carrying value of the Series A Preferred was accreted to its redemption value from the date of issuance through November 15, 2018, the date of the Company’s IPO. In conjunction with the IPO, the Series A Preferred, including accrued and unpaid dividends, automatically converted to shares of the Company’s common stock (see Note 6). Beneficial Conversion Feature Prior to the IPO in November 2018, the Company classified its Series A Preferred as temporary equity due to a possible cash redemption feature in the event that an IPO or alternate financing was not completed by December 31, 2018. At the IPO date, the Series A Preferred, and related accrued and unpaid dividends, automatically converted into shares of the Company’s common stock. The conversion share calculation was based on the $3.00 initial issuance price for the Series A Preferred plus any accrued but unpaid dividends and converted to common stock using a stated divisor conversion price equal to 50% of the IPO price to the public, which was $6.00 per share. In accordance with relevant accounting literature, since the stated terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred when the contingent event occurred, the Company recorded the beneficial conversion amount of $21,747 as a deemed dividend at the date of the IPO in November 2018. Leases The Company adopted ASC Topic 842 — Leases, effective January 1, 2019, using the modified retrospective method. The reported results for fiscal years 2020 and 2019 reflect the application of ASC Topic 842, while the reported results for the year ended December 31, 2018 are not adjusted and continue to be reported under the prior ASC Topic 840 guidance for leases. The Company reviews all relevant facts and circumstances of a contract to determine if it is a lease whereby the terms of the agreement convey the right to control the direct use and receive substantially all of the economic benefits of an identified asset for a period of time in exchange for consideration. The associated right-of-use assets and lease liabilities are recognized at lease commencement. The Company measures lease liabilities based on the present value of the lease payments over the lease term discounted using the rate it would pay on a loan with the equivalent payments and term for the lease. The Company does not include the impact for lease term options that would extend or terminate the lease unless it is reasonably certain that it will exercise any such options. The Company accounts for the lease components separately from non-lease components for its operating leases. The Company measures right-of-use assets based on the corresponding lease liabilities adjusted for (i) any prepayments made to the lessor at or before the commencement date, (ii) initial direct costs it incurs, and (iii) any incentives under the lease. In addition, the Company evaluates the recoverability of its right-of-use assets for possible impairment in accordance with its long-lived assets policy. Operating leases are reflected on the balance sheets as operating lease right-of-use assets, current accrued liabilities and long-term operating lease liabilities. The Company does not have any finance leases as of December 31, 2020 and 2019. The Company commences recognizing operating lease expense when the lessor makes the underlying asset available for use by the Company and the operating lease expense is recognized on a straight-line basis. Variable lease payments are expensed as incurred. The Company does not recognize right-of-use assets or lease liabilities for leases with a term of twelve months or less; such lease costs are recorded in the statements of operations on a straight-line basis over the lease term. Patent Costs All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses. Concentrations of Credit Risk, Sources of Supply and Significant Customers The Company is subject to credit risk for its cash and cash equivalents which are invested in money market funds and a U.S. treasury bill. The Company maintains its cash and cash equivalent balances with one major commercial bank and the deposits held with the financial institution exceed the amount of insurance provided on such deposits and is exposed to credit risk in the event of a default by the financial institutions holding its cash and cash equivalents to the extent recorded on the balance sheets. The Company is dependent on third-party suppliers for its products and product candidates. In particular, the Company relies, and expects to continue to rely, on a small number of suppliers to manufacture key chemicals, approved products and process its product candidates as part of its development programs. These programs could be adversely affected by a significant interruption in the manufacturing process. The Company is also subject to credit risk from its accounts receivable related to product sales as it extends credit based on an evaluation of the customer’s financial condition, and collateral is not required. Management monitors its exposure to accounts receivable by periodically evaluating the collectability of the account receivable based on a variety of factors including the length of time the receivables are past due, the financial health of the customer and historical experience. Based upon the review of these factors, the Company recorded no allowance for doubtful accounts at December 31, 2020 or 2019. The accounts receivable balance at December 31, 2020 and 2019 and product sales revenue recognized during the year ended December 31, 2020 and 2019 consist of sales to and amounts due from AmerisourceBergen Corporation, Cardinal Health Services and McKesson Corporation for sales of the Company’s Biorphen product. The December 31, 2020 accounts receivable balance and sales in 2020 also include sales to and amounts due from AnovoRx for sales of the Company’s Alkindi Sprinkle product which launched in December 2020. Revenue Recognition for Contracts with Customers The Company accounts for contracts with its customers in accordance with ASC 606 — Revenue from Contracts with Customers. ASC 606 applies to all contracts with customers, except for contracts that are within the scope of other standards. Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the entity performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Arrangements that include rights to additional goods or services that are exercisable at a customer’s discretion are generally considered options. The Company assesses whether these options provide a material right to the customer and, if so, they are considered performance obligations. The exercise of a material right is accounted for as a contract modification for accounting purposes. The Company recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) each performance obligation is satisfied at a point in time or over time, and if over time this is based on the use of an output or input method. Any amounts received prior to revenue recognition will be recorded as deferred revenue. Amounts expected to be recognized as revenue within the twelve months following the balance sheet date will be classified as current portion of deferred revenue in the Company’s balance sheets. Amounts not expected to be recognized as revenue within the twelve months following the balance sheet date are classified as long-term deferred revenue, net of current portion. Milestone Payments Royalties – Significant Financing Component – The Company sells Biorphen in the U.S. to wholesale pharmaceutical distributors, who then sell the product to hospitals and other end-user customers. Sales to wholesalers are made pursuant to purchase orders subject to the terms of a master agreement, and delivery of individual shipments of Biorphen represent performance obligations under each purchase order. The Company uses a third-party logistics (“3PL”) vendor to process and fulfill orders and has concluded it is the principal in the sales to wholesalers because it controls access to the 3PL vendor services rendered and directs the 3PL vendor activities. The Company has no significant obligations to wholesalers to generate pull-through sales. In addition, the Company sells its Alkindi Sprinkle product to one pharmacy distributor customer which provides order fulfilment and inventory storage/distribution services. Selling prices initially billed to wholesalers are subject to discounts for prompt payment and subsequent chargebacks when the wholesalers sell Biorphen at negotiated discounted prices to members of certain group purchasing organizations (“GPOs”) and government programs. In addition, the Company pays fees to wholesalers for their distribution services, inventory reporting and chargeback processing. The Company pays GPOs fees for administrative services and for access to GPO members and concluded the benefits received in exchange for these fees are not distinct from its sales of Biorphen, and accordingly it applies these amounts to reduce revenues. Wholesalers also have rights to return unsold product nearing or past the expiration date. Because of the shelf life of Biorphen and the Company’s lengthy return period, there may be a significant period of time between when the product is shipped and when it issues credits on returned product. For its Alkindi Sprinkle product, the Company bills at the initial product list price which are subject to offsets for patient co-pay assistance and potential state Medicaid reimbursements which are recorded as a reduction of net revenues at the date of sale/shipment. The Company estimates the transaction price when it receives each purchase order taking into account the expected reductions of the selling price initially billed to the wholesaler/distributor arising from all of the above factors. The Company has developed estimates for future returns and chargebacks of Biorphen and the impact of the other discounts and fees it pays while Alkindi Sprinkle sales to its distributor are not subject to returns. When estimating these adjustments to the transaction price, the Company reduces it sufficiently to be able to assert that it is probable that there will be no significant reversal of revenue when the ultimate adjustment amounts are known. The Company recognizes revenue from Biorphen product sales and related cost of sales upon product delivery to the wholesaler location. At that time, the wholesalers take control of the product as they take title, bear the risk of loss of ownership, and have an enforceable obligation to pay the Company. They also have the ability to direct sales of product to their customers on terms and at prices they negotiate. Although wholesalers have product return rights, the Company does not believe they have a significant incentive to return the product. The Company stores its Alkindi Sprinkle inventory at its pharmacy distributor customer location and sales are recorded when stock is pulled and shipped to fulfill specific patient orders. Upon recognition of revenue from product sales, the estimated amounts of credit for product returns, chargebacks, distribution fees, prompt payment discounts, state Medicaid and GPO fees are included in sales reserves, accrued liabilities and net of accounts receivable. The Company monitors actual product returns, chargebacks, discounts and fees subsequent to the sale. If these amounts end up differing from its estimates, it will make adjustments to these allowances, which are applied to increase or reduce product sales revenue and earnings in the period of adjustment. In addition, the Company anticipates it will receive revenues from product licensing agreements where it has contracted for milestone payments and royalties from products it has developed or for which it has acquired the rights to a product developed by a third party. Cost of Product Sales Cost of product sales consists of the profit-sharing and royalty fees with the Company’s product licensing and development partners, the purchase costs for finished products from third-party manufacturers and freight and handling/storage costs from the Company’s 3PL logistics service providers. The cost of sales for profit-sharing and royalty fees and costs for purchased finished products and the associated inbound freight expense is recorded when the associated product sale revenue is recognized in accordance with the terms of shipment to customers while outbound freight and handling/storage fees charged by the 3PL service provider are expensed as they are incurred. Cost of sales also reflects any write-downs or reserve adjustments for the Company’s inventories. Research and Development Expenses Research and development (“R&D”) expenses include both internal R&D activities and external contracted services. Internal R&D activity expenses include salaries, benefits and stock-based compensation and other costs to support the Company’s R&D operations. External contracted services include product development efforts such as certain product licensor milestone payments, clinical trial activities, manufacturing and control-related activities and regulatory costs. R&D expenses are charged to operations as incurred. The Company reviews and accrues R&D expenses based on services performed and relies upon estimates of those costs applicable to the stage of completion of each project. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Upfront payments and milestone payments made for the licensing of technology for products that are not yet approved by the FDA are expensed as R&D in the period in which they are incurred. Nonrefundable advance payments for goods or services to be received in the future for use in R&D activities are recorded as prepaid expenses and are expensed as the related goods are delivered or the services are performed. Earnings (Loss) Per Share Basic net loss per common share is computed by dividing net loss attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders for the period by the weighted average number of common and common equivalent shares, such as Series A Preferred, unvested restricted stock, stock options and warrants that are outstanding during the period. Common stock equivalents are excluded from the computation when their inclusion would be anti-dilutive. No such adjustments were made for 2020, 2019 or 2018 as the Company reported a net loss for the years ended December 31, 2020, 2019 and 2018 and including the effects of common stock equivalents in the diluted earnings per share calculation would have been antidilutive (see Note 10). Warrant Liability The Company estimated the fair value of certain warrants at each reporting period using Level 3 inputs. The estimates in valuation models were based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the exercise price of the warrants. Changes in the fair value of the warrant liability during the period were recorded as a component of other income (expense) at the end of each reporting period for changes in fair value until the Company’s IPO in November 2018, which established a fixed number of shares for these warrants. At the date of the IPO, the warrant liability amount was reclassified as a component of additional paid-in-capital. Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC — 718 Compensation — Stock Compensation. The guidance under ASC 718 requires companies to estimate the fair value of the stock-based compensation awards on the date of grant and record expense over the related service periods, which are generally the vesting period of the equity awards. The Company estimates the fair value of stock-based option awards using the Black-Scholes-Merton option-pricing model (“BSM”). The BSM requires the input of subjective assumptions, including the expected stock price volatility, the calculation of expected term, forfeitures and the fair value of the underlying common stock on the date of grant, among other inputs. The risk-free interest rate was determined from the implied yields for zero-coupon U.S. government issues with a remaining term approximating the expected life of the options or warrants. Dividends on common stock are assumed to be zero for the BSM valuation of the stock options. The expected term of stock options granted is based on vesting periods and the contractual life of the options. Expected volatilities are based on comparable companies’ historical volatility along with a limited weighting included for the Company’s own volatility subsequent to its IPO, which management believes represents the most accurate basis for estimating expected future volatility under the current conditions. The Company accounts for forfeitures as they occur. Since the IPO in November 2018, the Company has used the closing common stock price on the date of grant for the fair value of the common stock. Prior to the Company’s IPO, the fair value of the shares of the Company’s common stock underlying its stock-based awards was determined by its board of directors, with input from management. Because there had been no public market for the Company’s common stock prior to the IPO, the board of directors had determined the fair value of the common stock on the grant-date of the stock-based award by considering a number of objective and subjective factors, including enterprise valuations of its common stock performed by an unrelated third-party specialist, valuations of comparable companies, sales of its convertible preferred stock to unrelated third parties, operating and financial performance, the lack of liquidity of the capital stock, and general and industry-specific economic outlook. Following the IPO in November 2018, the Company uses the closing stock price on the date of grant for the fair value of the common stock. Income Taxes As part of the process of preparing the Company’s financial statements, the Company must estimate the actual current tax liabilities and assess temporary differences resulting from differing treatment of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within the balance sheets. The Company must assess the likelihood that the deferred tax assets will be recovered from future taxable income and, to the extent the Company believes that recovery is not likely, a valuation allowance must be established. To the extent the Company establishes a valuation allowance or increase or decrease to this allowance in a period, the impact will be included in income tax expense in the statements of operations. As of December 31, 2020 and 2019, the Company has established a 100% valuation reserve against its deferred tax assets. The Company accounts for income taxes under the provisions of ASC 740 - Income Taxes. As of December 31, 2020 and 2019, there were no unrecognized tax benefits included in the balance sheets that would, if recognized, affect the effective tax rate. The Company’s practice is to recognize interest and penalties related to income tax matters in income tax expense. The Company had no accrual for interest or penalties in its balance sheets at December 31, 2020 or 2019, and has not recognized interest and penalties in the statements of operations for the years ended December 31, 2020, 2019 and 2018. As of December 31, 2020, the Company is subject to taxation in the United States and certain individual states – primarily Illinois and Tennessee. The Company’s tax losses from 2017 through 2020 are subject to examination by the federal and state tax authorities due to the carryforward of unutilized net operating losses (“NOLs”). The Tax Cuts and Jobs Act of 2017 (the “Tax Act”) significantly revised U.S. corporate income tax law by, among other things, reducing the corporate income tax rate to 21% and implementing a modified territorial tax system. In response to the Tax Act, the SEC issued Staff Accounting Bulletin (“SAB”) 118 which allows issuers to recognize provisional estimates of the impact of the Tax Act in their financial statements and adjust in the period in which the estimates become finalized, or in circumstances where estimates cannot be made, to disclose and recognize within a one-year measurement period. Current accounting standards include guidance on the accounting for uncertainty in income taxes recognized in the financial statements. Such standards also prescribe a recognition threshold and measurement model for the financial statement recognition of a tax position taken, or expected to be taken, and provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company believes that the ultimate deductibility of all tax positions is highly certain, although there is uncertainty about the timing of such deductibility. As a result, no liability for uncertain tax positions was recorded as of December 31, 2020 or 2019. Fair Value Measurements We measure certain of our assets and liabilities at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value accounting requires characterization of the inputs used to measure fair value into a three-level fair value hierarchy as follows: Level 1 Level 2 Level 3 Fair value measurements are classified based on the lowest level of input that is significant to the measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values stated below takes into account the market for the Company’s financials, assets and liabilities, the associated credit risk and other factors as required. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. The Company’s financial instruments included cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, PPP and EIDL loans and long-term debt obligation. The carrying amounts of these financial instruments, except for the PPP and EIDL loans and long-term debt obligation, approximate their fair values due to the short-term maturities of these instruments. Based on borrowing rates currently available to the Company, the carrying value of the PPP and EIDL loans and long-term debt obligation approximate their fair values. The fair values of the Company’s warrant liability at inception and for subsequent mark-to-market fair value measurements were based on management’s valuation model and expectations with respect to the method and timing of settlement. The Company determined that the warrant liability fair values were classified as Level 3 measurements within the fair value hierarchy. At the date of the Company’s IPO in November 2018, the fair value was reclassified to additional paid-in-capital as the final number of shares for the warrants previously reflected as a liability became fixed (see Note 6). Impact of New Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. The standard amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. For available-for-sale debt securities, entities will be required to recognize an allowance for credit losses rather than a reduction in carrying value of the asset. Entities will no longer be permitted to consider the length of time that fair value has been less than amortized cost when evaluating when credit losses should be recognized. The Company adopted the new guidance on January 1, 2020 which did not have a material impact on its financial position or results of operations. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820). The new guidance removes, modifies and adds to certain disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. The Company adopted the new guidance on January 1, 2020 which did not have a material impact on its financial pos

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 4 – Property and Equipment Property and equipment consist of the following: December 31, 2020 December 31, 2019 Computer hardware and software $ 182 $ 174 Furniture and fixtures 143 133 Equipment 994 994 Leasehold improvements 184 152 Construction in progress — 9 1,503 1,462 Less: accumulated depreciation and amortization (692 ) (345 ) Property and equipment, net $ 811 $ 1,117 Depreciation and amortization expense for the years ended December 31, 2020, 2019 and 2018 was $347, $283 and $51, respectively.

Debt

Debt	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	Note 5 – Debt SWK Loan On November 13, 2019, the Company entered into a credit agreement (the “SWK Credit Agreement”) with SWK Holdings Corporation (“SWK”) which provided for up to $10,000 in financing. The Company received proceeds of $5,000 at closing and was able to borrow an additional $5,000 upon the FDA approval of a second product developed by the Company, excluding EM-100. In March 2020, in conjunction with the Company’s Alkindi Sprinkle product licensing agreement (see Note 15) and the Company’s March 2020 sale of additional shares of its common stock (see Note 7), the Company and SWK amended the SWK Credit Agreement. The amendment provided the Company with the option to immediately draw $2,000 and the ability to borrow an additional $3,000 based upon the FDA approval of EM-100 and Alkindi Sprinkle which subsequently occurred in September 2020. Accordingly, the Company borrowed an additional $2,000 on August 11, 2020. The term of the SWK Credit Agreement is for five years and borrowings bear interest at a rate of LIBOR 3-month plus 10.0%, subject to a stated LIBOR floor rate of 2.0%. A 2.0% unused credit limit fee is assessed during the first twelve months after the date of the SWK Credit Agreement and loan fees include a 5.0% exit fee based on the principal amounts drawn which is payable at the end of the term of the SWK Credit Agreement. The Company is required to maintain a minimum cash balance of $3,000, will only pay interest on the debt until May 2022 and then will pay 5.5% of the loan principal balance commencing on February 15, 2022 and then every three months thereafter until November 13, 2024 at which time the remaining principal balance is due. Borrowings under the SWK Credit Agreement are secured by the Company’s assets. The SWK Credit Agreement contains customary default provisions and covenants which include limits on additional indebtedness. In March 2020, SWK provided a waiver for the Company to obtain loans with the Small Business Association. The Company is currently in the process of negotiating covenant targets for EBITDA and revenue for the SWK Credit Agreement. In February 2021, the Company notified SWK that it will not require additional borrowing capacity under the SWK Credit Agreement and terminated the additional borrowing capacity with SWK. In connection with the initial $5,000 borrowed in November 2019, the Company issued warrants to SWK to purchase 51,239 shares of the Company’s common stock with an exercise price of $5.86 per share. The relative fair value of these 51,239 warrants was $226 and was estimated using the Black-Scholes-Merton option pricing model with the following assumptions: fair value of the Company’s common stock at issuance of $5.75 per share; seven-year contractual term; 95% volatility; 0% dividend rate; and a risk-free interest rate of 1.8%. In connection with the additional $2,000 borrowed in August 2020, the Company issued warrants for 18,141 shares of its common stock at an exercise price of $6.62 per share. The relative fair value of the 18,141 warrants was $94 and was estimated using the Black-Scholes-Merton option pricing model with the following assumptions: fair value of the Company’s common stock at issuance of $6.85 per share; seven-year contractual term; 95% volatility; 0% dividend rate; and a risk-free interest rate of 0.4%. These warrants (the “SWK Warrants”) are exercisable immediately and have a term of seven years from the date of issuance. The SWK Warrants are subject to a cashless exercise feature, with the exercise price and number of shares issuable upon exercise subject to change in connection with stock splits, dividends, reclassifications and other conditions. The Company recorded interest expense of $884 and $98 in 2020 and 2019, respectively, which included $121 and $16, respectively, of debt discount amortization. The Company had accrued interest of $48 and $82 as of December 31, 2020 and 2019, respectively, which is included in accrued liabilities in the accompanying balance sheets. The table below reflects the future annual payments for the SWK loan principal and interest as of December 31, 2020. Amount 2021 $ 849 2022 2,202 2023 1,756 2024 5,300 Total payments 10,107 Less: amount representing interest (3,107 ) Loan payable, gross 7,000 Less: unamortized discount (468 ) Long-term debt, net of unamortized discount $ 6,532 PPP loan On May 4, 2020, the Company received $361 in loan proceeds under the Paycheck Protection Program (“PPP”) from the Small Business Administration (“SBA”) through its banking relationship with Bank of America. The loan bears a 1.0% annual interest rate and is payable in monthly installments commencing in November 2020, subject to a payment deferral period until August 2021 which the Company has elected to use, until the loan is paid in full on May 4, 2022. The Company recorded $2 in interest expense for the period ended December 31, 2020. The Company intends to pursue full or partial forgiveness of the loan as permitted under the applicable SBA guidelines for PPP loans. EIDL loan On July 21, 2020, the Company received $150 in loan proceeds under the Economic Injury Disaster Loan program (“EIDL”) from the SBA. The loan bears a 3.75% annual interest rate and is payable in monthly installments commencing on July 21, 2021 until paid in full on July 21, 2050. The Company recorded $3 in interest expense for the year ended December 31, 2020.

Redeemable Convertible Preferre

Redeemable Convertible Preferred Stock - Series A	12 Months Ended
	Dec. 31, 2020
Temporary Equity Disclosure [Abstract]
Redeemable Convertible Preferred Stock - Series A	Note 6 — Redeemable Convertible Preferred Stock — Series A The Company has 10,000,000 authorized shares of $0.001 par value preferred stock as per its Amended and Restated Certificate of Incorporation. In June 2017, the Company issued 6,685,082 Series A Preferred at a price of $3.00 per share and all shares remained outstanding until the Company’s IPO in November 2018. The gross proceeds were $20,055 from the Series A Preferred stock offering. The Series A Preferred shares, including accrued and unpaid dividends, automatically converted to the Company’s common shares at the date of the IPO (See Note 7). As of the date of the IPO on November 15, 2018, the liquidation value of the Series A Preferred was $21,746, which consisted of the issuance amount of $20,055 plus accrued dividends of $1,691. The Series A Preferred automatically converted to common shares upon completion of the IPO in November 2018. The conversion share calculation was based on the $3.00 initial issue price for the Series A Preferred plus accrued and unpaid dividends, and automatically converted into shares of the Company’s common stock using a stated divisor conversion price equal to 50% of the IPO price to the public which was $6.00 per share. In accordance with relevant accounting literature, since the terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred when the contingent event occurred, the Company recorded the beneficial conversion amount of $21,747 as a deemed dividend at the date of the IPO in November 2018. As a result of the Series A Preferred having a possible cash redemption feature in the event that an IPO or alternate financing was not completed by December 31, 2018, the Series A Preferred was classified as temporary equity and not included as part of Company’s stockholders’ equity (deficit) prior to the November 2018 IPO. In accordance with that classification, the $2,534 of issuance costs associated with the Series A Preferred offering were being ratably accreted as a deemed dividend using the effective interest method through the expected redemption date.

Common Stock

Common Stock	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Common Stock	Note 7 — Common Stock The Company has 50,000,000 authorized shares of $0.001 par value common stock as per its Amended and Restated Certificate of Incorporation. On January 1, 2018, the Company issued 54,745 restricted shares of its common stock to each of its four outside directors (218,980 total shares valued at $300) as part of their compensation for board service to the Company in 2018. The restricted shares issued to the outside directors vested 25% at each quarter-end in 2018 and were fully vested as of December 31, 2018. The Company accounted for the restricted stock awards (“RSAs”) in accordance with ASC 718 (see Note 9). In conjunction with the Company’s IPO in November 2018, the Series A Preferred shares, including accrued dividends, converted into 7,248,948 shares of the Company’s common stock, and the Company issued 4,140,000 additional shares of its common stock to investors in its IPO (see Note 1). In March and April 2020, the Company entered into securities purchase agreements with various investors and sold an aggregate of 2,600,000 shares of its common stock at a price of $3.00 per share and received $7,756 in net proceeds after deducting issuance costs associated with the sale. In March 2020, the Company issued 379,474 shares of its common stock to Diurnal Limited (“Diurnal”) as a milestone fee for acquiring the U.S. marketing rights to Alkindi Sprinkle®, an orphan drug product currently under review with the FDA (see Note 15). The shares were valued at $1,264 based on the Company’s closing stock price on the date of issuance and this amount was recorded as a component of the Company’s research and development expense and a corresponding increase to its additional paid-in-capital. In October 2020, the Company issued 3,220,000 shares of its common stock in a public offering at an offering price of $7.00 per share and received net proceeds of $21,026. For the years ended December 31, 2020 and 2019, the Company issued 194,878 and 167,622 shares, respectively, of its common stock resulting from stock option exercises under its 2018 Equity Incentive Plan (see Note 9). For the years ended December 31, 2020 and 2019, the Company issued 25,780 and 44,885 shares, respectively, under the Company’s Employee Stock Purchase Program (“ESPP”). In April 2020, the Company issued 15,190 shares of its common stock as an RSA to a new employee. This RSA vests 25% every three months and will be 100% vested in April 2021. During 2019, there were 97,088 warrant shares exercised (all on a cashless basis) resulting in 57,051 shares of common stock being issued by the Company. There were no warrant exercises in the 2020 period.

Common Stock Warrants

Common Stock Warrants	12 Months Ended
	Dec. 31, 2020
Warrants and Rights Note Disclosure [Abstract]
Common Stock Warrants	Note 8 — Common Stock Warrants In conjunction with the closing of the Series A Preferred offering in June 2017 (see Note 6), the Company issued a warrant to purchase 649,409 shares of its common stock to the placement agent at an exercise price of $3.00 per share, provided, however, upon the conversion of the Series A Preferred, the warrant adjusted to entitle the holder to purchase shares of common stock equal to 10.0% of the shares of common stock issuable upon conversion of the Series A Preferred (excluding 191,000 shares of Series A Preferred that were purchased by insiders) and the exercise price would adjust to the conversion price of the Series A Preferred. This warrant vested at issuance in June 2017. The Company used the BSM to value the warrant and the fair value at the date of issuance was $479. Prior to the Company’s IPO in November 2018, the number of common shares issuable upon the exercise of this warrant was not fixed as it could vary by a factor of 1.000 to 1.333 common shares per warrant share in accordance with the IPO price, and the Company considered the warrant to be a derivative instrument. The $479 amount was recorded as a component of the issuance costs for the Series A Preferred in June 2017. As of December 31, 2017, the fair value of the warrant was $520. As of November 15, 2018, the fair value of the warrants was $3,103 and the $2,583 increase in fair value during 2018 was recorded as a component of other income and expense. The fair value assumptions included an expected term of five years, expected volatility of 85%, a risk-free interest rate of 2.9% and estimate of the conversion rate. These warrants were classified as warrant liability on the Company’s balance sheets prior to the IPO in November 2018. In connection with the Company’s IPO, the number of shares issuable upon the exercise of these warrants became fixed at 704,184 shares which eliminated the fair value adjustment after that date. At the IPO date, the warrant liability was reclassified to additional paid-in-capital. During November 2018, in connection with the IPO, the Company issued warrants for 414,000 shares of its common stock to the placement agent at an exercise price of $7.50 per share. In connection with the SWK Credit Agreement, the Company issued warrants to SWK to purchase 51,239 shares of the Company’s common stock (the “SWK Warrants”) with an exercise price of $5.86 per share. The SWK Warrants are exercisable immediately and have a term of seven years ending November 13, 2026. The SWK Warrants are subject to a cashless exercise feature, with the exercise price and number of shares issuable upon exercise subject to change in connection with stock splits, dividends, reclassifications and other conditions. The relative fair value of the SWK Warrants was $226 and was estimated using the Black-Scholes-Merton option pricing model with the following assumptions: fair value of the Company’s common stock at issuance of $5.75 per share; seven-year contractual term; 95% volatility; 0% dividend rate; and a risk-free interest rate of 1.8%. The $226 relative fair value for these warrants was reflected as a component of additional paid-in-capital in the Company’s balance sheet. In connection with the additional $2,000 borrowed in August 2020 under the SWK Credit Agreement, the Company issued warrants for 18,141 shares of its common stock at an exercise price of $6.62 per share. The relative fair value of the 18,141 warrants was $94 and was estimated using the Black-Scholes-Merton option pricing model with the following assumptions: fair value of the Company’s common stock at issuance of $6.85 per share; seven-year contractual term; 95% volatility; 0% dividend rate; and a risk-free interest rate of 0.4%. The $94 relative fair value for these warrants was reflected as a component of additional paid-in-capital in the Company’s balance sheet. The weighted average exercise price of the outstanding warrants for the consultant, placement agent and debt holder as of December 31, 2020 and 2019 was $3.17 and $3.13 per share, respectively. Listed below is a summary of warrants outstanding as of December 31, 2020: Description of Warrants No. of Shares Exercise Price Business Advisory Warrants – 2017 600,000 $ 0.01 Placement Agent Warrants – 2017 Preferred Stock Offering 607,096 $ 3.00 Placement Agent Warrants - IPO 414,000 $ 7.50 SWK Warrants – Debt (Tranche #1) 51,239 5.86 SWK Warrants – Debt (Tranche #2) 18,141 $ 6.62 Total 1,690,476 $ 3.17 (Avg) The holders of these warrants or their permitted transferees, are entitled to rights with respect to the registration under the Securities Act of their shares that are converted to common stock, including demand registration rights and piggyback registration rights. These rights are provided under the terms of a registration rights agreement between the Company and the investors. A rollforward of the warrants outstanding is listed in the table below: No. of Shares Balance as of the beginning of the year 1,672,335 Issuance of SWK Warrants with long-term debt 18,141 Balance as of the end of the year 1,690,476 There were no warrant exercises in 2020. During 2019, 97,088 warrants were exercised (all on a cashless basis) resulting in 57,051 shares of common stock being issued by the Company. The intrinsic value of the warrants exercised in 2019 was $401.

Share-Based Payment Awards

Share-Based Payment Awards	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Share-Based Payment Awards	Note 9 — Share-Based Payment Awards The Company’s board of directors and stockholders approved the Eton Pharmaceuticals, Inc. 2017 Equity Incentive Plan in May 2017 (the “2017 Plan”), which authorized the issuance of up to 5,000,000 shares of the Company’s common stock. In conjunction with the Company’s IPO in November 2018, the Company’s stockholders and board of directors approved the 2018 Equity Incentive Plan (the “2018 Plan”) which succeeded the 2017 Plan. The Company has granted RSAs, stock options and restricted stock units (“RSUs”) for its common stock under the 2017 Plan and 2018 Plan as detailed in the tables below. There were 398,246 shares available for future issuance under the 2018 Plan as of December 31, 2020. Shares that are expired, terminated, surrendered or canceled without having been fully exercised will be available for future awards under the 2018 Plan. In addition, the 2018 Plan provides that commencing January 1, 2019 and through January 1, 2028, the share reserve will be increased by 4% of the total number of shares outstanding as of the preceding December 31, subject to a reduction at the discretion of the Company’s board of directors. On January 1, 2019, the share reserve was increased by 704,317 shares based on the 17,607,928 shares of common stock outstanding at December 31, 2018. On January 1, 2020, the share reserve was increased by 715,099 shares based on the 17,877,486 shares of common stock outstanding at December 31, 2019. The exercise price for stock options granted is not less than the fair value of common stock as determined by the board of directors as of the date of grant. Prior to the IPO, the Company’s board of directors valued the Company’s common stock, taking into consideration its most recently available valuation of common stock performed by third parties as well as additional factors which might have changed since the date of the most recent contemporaneous valuation through the date of grant. Following the IPO, the Company has used the closing stock price on the date of grant as the exercise price. On January 1, 2018, the Company issued 54,745 restricted shares of its common stock to each of its four outside directors (218,980 total shares). The restricted shares issued to the outside directors vested 25% at each quarter-end in 2018 and became fully vested at December 31, 2018. In April 2020, the Company issued 15,190 shares of its common stock as an RSA to a new employee. This RSA vests 25% every three months and will be 100% vested in April 2021. To date, all stock options issued have been non-qualified stock options and the exercise prices were set at the fair value for the shares at the dates of grant. Options generally have a ten-year life, except for options to purchase 50,000 shares of the Company’s common stock granted to product consultants that expire within five years if the Company is not able to successfully file certain product submissions to the FDA prior to the five-year expiration date. Furthermore, these option awards to the Company’s product consultants do not vest unless certain product submissions are made to the FDA, and accordingly, the Company has not recorded any expense for these contingently vesting option awards to its product consultants. For the years ended December 31, 2020, 2019, and 2018, the Company’s total stock-based compensation expense was $2,576, $1,888 and $1,850, respectively. Of these amounts, $2,295, $1,574 and $1,770 was recorded in general and administrative expenses, respectively, and $281, $314 and $80 was recorded in R&D expenses, respectively. A summary of stock option activity is as follows: Shares Weighted Average Exercise Weighted Average Remaining Aggregate Intrinsic Options outstanding as of January 1, 2020 1,829,878 $ 4.01 8.1 $ 6,014 Issued 1,457,000 4.04 Exercised (194,878 ) 1.31 Forfeited/Cancelled (267,500 ) 5.70 Options outstanding as of December 31, 2020 2,824,500 $ 4.05 8.3 $ 11,525 Options exercisable at December 31, 2020 1,318,798 $ 3.92 7.9 $ 5,551 Options vested and expected to vest at December 31, 2020 2,774,500 $ 4.10 8.4 $ 11,187 The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock for those stock options that had strike prices lower than the fair value of the Company’s common stock at December 31. The intrinsic value of the options exercised during 2020 was $1,049. There were 194,878 shares issued for exercise of stock options during the year ended December 31, 2020 for proceeds of $255. The assumptions used to calculate the fair value of options granted during the years ended December 31, 2020, 2019, and 2018 under the BSM were as follows: December 31, 2020 December 31, 2019 December 31, 2018 Expected dividends — % — % — % Expected volatility 95 % 90 % 85 % Risk-free interest rate 0.4-0.7 % 1.9-2.5 % 2.8-2.9 % Expected term 5.9 years 5.9 years 6.3 years Weighted average fair value $ 3.06 $ 5.54 $ 3.39 Expected Term — The Company has opted to use the “simplified method” for estimating the expected term of options granted to employees and directors, whereby the expected term equals the arithmetic average of the vesting term and the original contractual term of the option (generally 10 years). The expected term of options granted to non-employees equals the contractual life of the options. Expected Volatility — Due to the Company’s limited operating history and a lack of Company-specific historical and implied volatility data, the Company has based its estimate of expected volatility on the historical volatility of a group of similar companies that are publicly traded. The historical volatility data was computed using the daily closing prices for the selected companies’ shares during the equivalent period of the calculated expected term of the stock-based awards. The Company has continued this methodology plus given some limited weighting to its own volatility in the periods subsequent to its November 2018 IPO. Risk-Free Interest Rate — The risk-free rate assumption is based on the U.S. Treasury instruments with maturities similar to the expected term of the Company’s stock options. Expected Dividend — The Company has not issued any dividends in its history and does not expect to issue dividends over the life of the options and therefore has estimated the dividend yield to be zero. Fair value of Common Stock — Prior to the Company’s IPO in November 2018, the fair value of the shares of common stock underlying the stock-based awards was determined by the board of directors, with input from management. Because there was no public market for the Company’s common stock, the board of directors determined the fair value of the common stock on the grant-date of the stock-based award by considering a number of objective and subjective factors, including enterprise valuations of the Company’s common stock performed by an unrelated third-party specialist, valuations of comparable companies, sales of the Company’s convertible preferred stock to unrelated third parties, operating and financial performance, the lack of liquidity of the Company’s capital stock, and general and industry-specific economic outlook. The board of directors intended all options granted to be exercisable at a price per share not less than the estimated per share fair value of common stock underlying those options on the date of grant. Following the IPO, the Company uses the closing stock price on the date of grant for the fair value of the common stock. A summary of activity for RSAs and RSUs is as follows: Restricted Stock Awards Number of shares Unvested as of January 1, 2020 — Issued 15,190 Vested (7,595 ) Forfeited/Cancelled — Unvested as of December 31, 2020 7,595 The grant date fair value per share for the RSA issued in 2020 was $3.95. No RSAs were issued in 2019 and the weighted average grant date fair value of the RSAs issued during the year ended December 31, 2018 was $1.37 per share. The fair value of the RSAs vested during the years ended December 31, 2020, 2019 and 2018 was $30, $66 and $2,784, respectively. Restricted Stock Units No RSUs were issued in 2020, 2019 and 2018 and no RSU’s were unvested at December 31, 2020 or 2019. The fair value of the RSUs vested during the years ended December 31, 2020, 2019 and 2018 was $0, $0 and $69, respectively. As of December 31, 2020, there was a total of $4,375, $18 and $0 of unrecognized compensation costs related to non-vested stock option awards, RSAs and RSUs, respectively. In December 2018, the Company’s board of directors adopted an initial offering of the Company’s common stock under the Company’s ESPP. The Company’s ESPP provides for an initial reserve of 150,000 shares and this reserve is automatically increased on January 1 of each year by the lesser of 1% of the outstanding common shares at December 31 of the preceding year or 150,000 shares, subject to reduction at the discretion of the Company’s board of directors. The initial offering began on December 17, 2018 and ended on December 10, 2019. The initial offering consisted of two purchase periods, with the first purchase period ended on June 10, 2019 and the second purchase period ended on December 10, 2019. The terms of the ESPP permit employees of the Company to use payroll deductions to purchase stock at a price per share that is at least the lesser of (1) 85% of the fair market value of a share of common stock on the first date of an offering or (2) 85% of the fair market value of a share of common stock on the date of purchase. After the initial offering period, subsequent twelve-month offering periods automatically commence over the term of the ESPP on the day that immediately follows the conclusion of the preceding offering, each consisting of two purchase periods approximately six months in duration ending on or around June 10 and December 10 each year, subject to a restart feature if the Company’s stock price drops at the end of a six-month period within the twelve-month offering period. The Company recorded an expense of $71, $112 and $5 in 2020, 2019 and 2018, respectively, related to the ESPP. The weighted average grant date fair value of share awards in 2020, 2019 and 2018 was $2.32, $2.56 and $2.59 per share, respectively. Employees contributed $115 and $247 to the ESPP during 2020 and 2019, respectively. Of these amounts, $18 and $16 at December 31, 2020 and 2019, respectively, is included in accrued liabilities in the accompanying balance sheets.

Basic and Diluted Net Loss Per

Basic and Diluted Net Loss Per Common Share	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Basic and Diluted Net Loss Per Common Share	Note 10 — Basic and Diluted Net Loss per Common Share Basic and diluted net loss per share is computed using the weighted average number of shares of common stock outstanding during the period. Common stock equivalents (using the treasury stock and “if converted” method) from stock options, unvested RSAs and RSUs, and warrants at December 31, 2020, 2019 and 2018 were 3,371,489, 3,590,465, and 8,262,381, respectively, and are excluded from the calculation of diluted net loss per share because the effect is anti-dilutive. Included in the basic and diluted net loss per share calculation were RSUs awarded to directors that had vested, but the issuance and delivery of the shares are deferred until the director retires from service as a director. The following table shows the computation of basic and diluted net loss per common share: Year ended December 31, Year ended December 31, Year ended Net loss $ (27,970 ) $ (18,320 ) $ (12,740 ) Series A Preferred – dividends (accrued and deemed) — — (24,489 ) Net loss attributable to common stockholders (27,970 ) (18,320 ) $ (37,229 ) Weighted average common shares outstanding (basic and diluted) 21,010,058 17,760,761 6,417,840 Net loss per common share (basic and diluted) $ (1.33 ) $ (1.03 ) $ (5.80 )

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Note 11 — Related Party Transactions Harrow Harrow was issued 3,500,000 shares of the Company’s common stock at the formation of the Company at the $0.001 par value per share price as the paid-in-capital contribution from Harrow. The Company and Harrow signed licensing agreements for two products developed by Harrow whereby Harrow assigned the product rights to the Company. The Company will pay Harrow a $50 milestone payment upon patent approval for each product and a royalty fee at a rate of six percent on the net sales of those two products. On December 26, 2017, one of the products had its patent approved and a $50 milestone fee was recognized as R&D expense by the Company in 2017 and paid to Harrow in January 2018. In July 2018, the Company determined the patent-approved product was not viable for its portfolio of product opportunities and Harrow paid the Company $50 to cancel the licensing agreement for the one product and retain the product rights at Harrow. On May 6, 2019, the Company entered into an Asset Purchase Agreement (the “CT-100 Asset Purchase Agreement”) with Harrow. Pursuant to the CT-100 Asset Purchase Agreement, the Company sold all of its right, title and interest in CT-100 to Harrow, including any such product that incorporates or utilizes its intellectual property rights (a “Product” or, collectively, “Products”). Pursuant to the CT-100 Asset Purchase Agreement, Harrow will make certain payments to the Company upon the achievement of certain development and commercial milestones. In addition, Harrow is required to pay the Company a royalty in the low-single digit percentage range worldwide on a country-by-country basis on net sales for a period of the longer of 15 years from the date of the first commercial sale of a product in a particular country or the time that a valid intellectual property claim on such Product remains in force in the applicable country. The CT-100 Asset Purchase Agreement also contains customary representations, warranties, covenants and indemnities by the parties. As part of the early start-up for the Company’s pharmaceutical business, key executives at Harrow received 1,500,000 shares of restricted common stock in the Company for consulting services and certain Harrow managers also received options to purchase 130,000 shares of common stock from the Company (20,000 of these options were forfeited in 2018). The restricted stock and stock options vested 100% after one year on April 30, 2018. The Company recorded stock-based compensation expense of $0, $0 and $970 for the Harrow restricted common stock and $0, $0 and $51 for Harrow stock options, respectively, for the years ended December 31, 2020, 2019 and 2018 as a component of its general and administrative expenses. Additionally, the Chief Executive Officer of Harrow is a member of the Company’s board of directors. Chief Executive Officer The CEO has a partial interest in a company that the Company has partnered with for its EM-100 product as described below. The Company acquired the exclusive rights to sell the EM-100 product in the United States pursuant to a sales and marketing agreement (the “Eyemax Agreement”) dated August 11, 2017 between the Company and Eyemax LLC (“Eyemax”), an entity affiliated with the Company’s CEO. The Company also held a right of first refusal to obtain the exclusive license rights for geographic areas outside of the United States. Pursuant to the Eyemax Agreement, the Company was responsible for all costs of testing and FDA approval of the product, other than the FDA filing fee which was paid by Eyemax. The Company was also to be responsible for commercializing the product in the United States at its expense. The Company paid Eyemax $250 upon execution of the Eyemax Agreement, which was recorded as a component of R&D expense. Under the terms of the original agreement, the Company would pay Eyemax $250 upon FDA approval and $500 upon the first commercial sale of the product and pay Eyemax a royalty of 10% on the net sales of all products. The Eyemax Agreement was for an initial term of 10 years from the date of the Eyemax Agreement, subject to successive two-year renewals unless the Company elected to terminate the Eyemax Agreement. There were no amounts due under the terms of the Eyemax Agreement as of December 31, 2020 or 2019. On February 18, 2019, The Company entered into an Amended and Restated Agreement with Eyemax amending the Sales Agreement (the “Amended Agreement”). Pursuant to the Amended Agreement, Eyemax sold the Company all of its right, title and interest in EM-100, including any such product that incorporates or utilizes Eyemax’s intellectual property rights. Under the Amended Agreement, the Company assumed certain liabilities of Eyemax under its Exclusive Development & Supply Agreement with Excelvision SAS dated as of July 11, 2013, as amended (the “Excelvision Agreement”), with respect to certain territories and arising during certain time periods. Pursuant to the Amended Agreement, the Company remains obligated to pay Eyemax two milestones payments: (i) one milestone payment for $250 upon regulatory approval in the territory by the FDA of the first single agent product and (ii) one milestone payment for $500 following the first commercial sale of the first single agent product in the territory which was paid in February 2021. Following payment of the milestones, the Company is entitled to retain all of the non-royalty transaction revenues and royalties up to $2,000 (the “Recovery Amount”). After the Company has retained the full Recovery Amount, it is entitled to retain half of all royalty and non-royalty transaction revenue. The Amended Agreement also contains customary representations, warranties, covenants and indemnities by the parties. The EM-100 asset and its associated product rights were sold to Bausch Health on February 18, 2019 and future potential royalties of twelve percent on Bausch Health sales of EM-100, which was approved by the FDA in September 2020, will be split between Eyemax and the Company. The royalty from Bausch Health is subject to reduction if a competitive product with the same active pharmaceutical ingredient is launched in the U.S. or if the EM-100 U.S market share falls below a specified target percentage. There were no amounts due under the terms of the Amended Agreement as of December 31, 2020 or 2019.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Note 12 — Leases The Company recognizes a right-of-use (“ROU”) asset and a lease liability on the balance sheet for substantially all leases, including operating leases, and separates lease components from non-lease components related to its office space lease. On January 12, 2018, the Company signed an amended lease agreement to lease additional office space adjacent to its current corporate office space in Deer Park, Illinois. The amended lease was scheduled to expire at the end of March 2021. In October 2020, the Company renewed its office lease for a two-year period through March 31, 2023 and recorded $195 in ROU assets and $195 in operating lease liabilities associate with the lease extension. On March 7, 2018, the Company entered into a lease for laboratory space at a complex in Lake Zurich, Illinois. The lease commenced on March 7, 2018 and was scheduled to expire in February 2021. In November 2020, this laboratory lease was extended to June 2021 as the Company evaluates its future laboratory operations requirements. The Company does not have any lease contracts that contain: (1) an option to extend that the Company is reasonably certain to exercise, (2) an option to terminate that the Company is reasonably certain to exercise, or (3) an option to extend (or not to terminate) in which exercise of the option is controlled by the lessor. Additionally, the Company does not have any leases with residual value guarantees or material restrictive covenants. Lease liabilities and their corresponding right-of-use assets have been recorded based on the present value of the future lease payments over the expected lease term. One of the Company’s lease agreements contains provisions for escalating rent payments over the term of the lease. The Company’s leases do not contain readily determinable implicit discount rates, and therefore, the Company was required to use its incremental borrowing rate of 7.8% to discount the future lease payments based on information available at lease commencement. In October 2020, the new discount rate for the office lease extension was estimated at 5.4%. The incremental borrowing rate was estimated by determining the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. For the years ended December 31, 2020, 2019 and 2018, the Company recorded $139, $140, and $115, respectively, in rent expense. The Company’s operating lease cost as presented in the “Research and Development” and “General and Administrative” captions in the statements of operations was $55 and $84 and $55 and $85 for the years ended December 31, 2020 and 2019, respectively. Cash paid for amounts included in the measurement of operating lease liabilities was $131 and $120 for years ended December 31, 2020 and 2019, respectively. The ROU asset amortization for years ended December 31, 2020 and 2019 was $129 and $121, respectively, and is reflected in depreciation and amortization in the Company’s statements of cash flows. As of December 31, 2020, the weighted-average remaining lease term was 2.2 years, and the weighted-average discount rate was 5.4%. The table below presents the lease-related assets and liabilities recorded on the balance sheet as of December 31, 2020: Assets Classification Operating lease right-of-use assets Operating lease right-of-use assets, net $ 192 Total leased assets $ 192 Liabilities Operating lease liabilities, current Accrued liabilities $ 82 Operating lease liabilities, noncurrent Operating lease liabilities, net of current portion 99 Total operating lease liabilities $ 181 The Company’s future annual lease commitments as of December 31, 2020 are as indicated below: Total 2021 2022 2023 Undiscounted lease payments $ 192 $ 90 $ 87 $ 15 Less: Imputed interest (11 ) Total lease liabilities $ 181

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 13 – Income Taxes The provision for income taxes for the Company consists of the following for the years ended December 31, 2020, 2019 and 2018: Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 Current: Federal $ — $ — $ — State — — — Total current expense — — — Deferred: Federal 6,020 3,961 1,900 State 2,151 1,415 679 Change in valuation allowance (8,171 ) (5,376 ) (2,579 ) Total deferred expense — — — Total provision $ — $ — $ — Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The significant components of the Company’s deferred tax assets as of December 31, 2020 and 2019 are as follows: December 31, December 31, 2020 2019 Net operating losses $ 16,250 $ 8,879 Stock-based expenses 1,257 662 Accruals and other 396 190 Total deferred tax assets 17,903 9,731 Valuation allowance (17,903 ) (9,731 ) Net deferred tax assets $ — $ — Based on the uncertainty of future taxable income at this time management believes a 100% valuation reserve for the $17,903 and $9,731 deferred tax assets at December 31, 2020 and 2019, respectively, is appropriate. A reconciliation of the statutory federal tax rate to effective tax rate is shown below: Year ended December 31 Year ended December 31, Year ended 2020 2019 2018 Benefit at statutory rate (21.0 )% (21.0 )% (21.0 )% Permanent items (primarily warrants and stock compensation) (0.5 ) (0.6 ) 6.0 State tax benefit (7.7 ) (7.7 ) (5.3 ) Federal rate change — — — Other items — — — Establishment of valuation allowance 29.2 29.3 20.3 Income tax expense — % — % — % The Company has a federal and state NOL carryforward of $57,008 as of December 31, 2020. Under the Tax Act, federal NOLs incurred in taxable years ending after December 31, 2017 in the amount of $51,356 may be carried forward indefinitely, but the deductibility of federal NOLs generated in tax years beginning before December 31, 2017 in the amount of $5,652 will expire in 2037. The state NOL carry forward will begin to expire in 2029. In addition, under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended, and corresponding provisions of state law, if a corporation undergoes an “ownership change,” which is generally defined as a greater than 50% change (by value) in its equity ownership over a three-year period, the corporation’s ability to use its pre-change NOL carryforwards and other pre-change tax attributes (such as research tax credits) to offset its post-change income may be limited.

Employee Savings Plan

Employee Savings Plan	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Savings Plan	Note 14 - Employee Savings Plan The Company established an employee savings plan pursuant to Section 401(k) of the Internal Revenue Code, effective January 1, 2018. The plan allows participating employees to deposit into tax deferred investment accounts up to 100% of their salary, subject to annual limits. The Company makes certain matching contributions to the plan in amounts up to 4% of the participants’ annual cash compensation, subject to annual limits. For the years ended December 31, 2020, 2019 and 2018, the Company made $117, $113 and $62, respectively, in matching contributions.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 15 — Commitments and Contingencies Legal The Company is subject to legal proceedings and claims that may arise in the ordinary course of business. The Company is not aware of any pending or threatened litigation matters at this time that may have a material impact on the operations of the Company. License and Product Development Agreements The Company has entered into various agreements in addition to those discussed above which are described below. The Company acquired the exclusive rights to sell the Cysteine injection product in the United States pursuant to a sales and marketing agreement dated November 17, 2017 with an unaffiliated third party (the “Sales Agreement”). Pursuant to the Sales Agreement, the licensor is responsible for obtaining FDA approval, at its expense, and the Company is responsible for commercializing the product in the United States at its expense. The Company was to pay the third party 50% of the net profit from the sale of the product, however, in February 2020, it executed an amendment to the Sales and Marketing Agreement. Under the revised terms, the Company will be responsible for paragraph IV related litigation and will be entitled to 62.5% of product profit. The initial term is for the first 10 years following the first commercial sale of the product. The Company acquired the exclusive license to develop, manufacture and sell oral solution Levothyroxine in the United States pursuant to an Exclusive License and Supply Agreement dated August 3, 2018 between the Company and Liqmeds Worldwide Limited (“LMW”), an unaffiliated entity. Pursuant to the agreement, the Company was to be responsible for, and would own, all regulatory filings and approvals at its expense, provided that it would have the right to recoup 35% of any regulatory filing fees from the initial profits from the sale of ET-103 and, provided further, the licensor would be responsible for any bioequivalence study and would be responsible for 60% of the costs of such study. An affiliate of the licensor was to manufacture the ET-103 and sell it to the Company at its cost. The Company paid the licensor $350 upon execution of the agreement and was to pay the licensor $1,500 upon the FDA’s acceptance of an NDA for review, $1,000 upon FDA approval, $1,500 upon issuance of patent covering ET-103 listed in the FDA’s Orange Book and $500 in the event of product sales in excess of $10,000 in any calendar year. In addition, the Company was required to pay the licensor 35% of the net profit from product sales. The license agreement was for an initial term of 10 years from the date of the first commercial sale of the product, subject to two-year renewals unless either party elects to terminate no less than 12 months prior to the then current term. The agreement also contained customary representations, warranties, covenants and indemnities by the parties. In November 2020, the Company terminated the development agreement with LMW due to new adverse market competitive factors. On February 8, 2019, the Company entered into an Exclusive Licensing and Supply Agreement (the “ET-202 License Agreement”) with Sintetica SA (“Sintetica”) for marketing rights in the United States to Biorphen® which is used for the treatment of clinically important hypotension resulting primarily from vasodilation in the setting of anesthesia. The product was submitted to the FDA for review and subsequently received FDA approval on October 21, 2019. Pursuant to the terms of the ET-202 License Agreement, the Company is responsible for marketing activities and Sintetica is responsible for development, manufacturing, and the regulatory activities related to approval. The Company paid Sintetica a licensing payment of $2,000 upon execution of the ET-202 License Agreement and $750 upon the commencement of commercial product shipments. Sintetica will supply Biorphen to the Company at its direct costs and the Company will retain 5% of net sales as a marketing fee. Sintetica is entitled to receive the first $500 of product profits. All additional profit will be split 50% to the Company and 50% to Sintetica. The ET-202 License Agreement has a ten-year term from the first commercial sale of Biorphen which occurred in November 2019. There was a gross loss for Biorphen for the year ended December 31, 2020 due to slower than anticipated sales and a product price reduction through the Company’s wholesale customers. On February 8, 2019, the Company also entered into an Exclusive Licensing and Supply Agreement (the “ET-203 License Agreement”) with Sintetica for marketing rights in the United States to ephedrine, an injectable product candidate for use in the hospital setting. Pursuant to the terms of the ET-203 License Agreement, the Company will be responsible for marketing activities and Sintetica will be responsible for development, manufacturing, and regulatory activities related to obtaining regulatory approval. The Company paid Sintetica a licensing payment of $1,000 upon execution of the ET-203 License Agreement which was refunded to Eton in early 2020 due to the FDA not accepting the ET-203 file submission by Sintetica. The refund was reflected as a component of prepaid and other current assets on the Company’s balance sheet at December 31, 2019. The ET-203 product was successfully resubmitted in late 2020 and the Company will pay a $600 milestone fee and will also pay $750 upon FDA approval and the commercial sale of the product candidate. Upon approval, Sintetica will supply ET-203 to the Company at its direct costs. The Company will retain 5% of net sales as a marketing fee. Sintetica will be entitled to receive the first $500 of product profits. All additional profit will be split 50% to the Company and 50% to Sintetica. The ET-203 License Agreement has a ten-year term from first commercial sale of product. The three oral solution pediatric neurology product candidates discussed below, Topiramate, Zonisamide and Lamotrigine were developed by the Company and its various product candidate development partners and the Company subsequently sold all its rights and interests in these three products to Azurity Pharmaceuticals, Inc. (“Azurity”) in 2021 (see Note 16 — Subsequent Events). During the years ended December 31, 2020, 2019 and 2018, the Company worked with Tulex Pharmaceuticals, Inc. (“Tulex”) as a third-party contract manufacturer to develop an oral solution for Topiramate (fka ET-101) which targets a neurological condition. The Company subsequently filed the product with the FDA in October 2020 and paid a $1,438 filing fee. On January 23, 2019, the Company entered into a Licensing and Supply Agreement (the “Agreement”) with LMW for Zonisamide oral liquid, a development stage product candidate (“ET-104”). Pursuant to the terms of the Agreement, the Company was to be responsible for regulatory and marketing activities. LMW will be responsible for development and manufacturing of ET-104. The Company paid the licensor $350 upon execution of the Agreement and an additional $350 after receiving successful bioequivalence study results, and $325 upon the FDA’s acceptance of the NDA for review and will pay $325 upon FDA approval of the NDA, $650 upon issuance of patent covering ET-104 listed in the FDA’s Orange Book and $500 in the event that product sales in excess of $10,000 were achieved within a calendar year. In addition, the Company was required to pay the licensor 35% of the net profit from product sales. The Agreement was for an initial term of 10 years from the date of the first commercial sale of the product. The Company was to retain sole ownership of the NDA after expiration of the Agreement. On June 12, 2019, the Company entered into an Exclusive Licensing and Supply Agreement (the “ET-105 License Agreement”) with Aucta Pharmaceuticals, Inc. (“Aucta”) for marketing rights in the United States to Lamotrigine, an oral suspension product candidate for use as an adjunct therapy for partial seizures, primary generalized tonic-clonic seizures, and generalized seizures of Lennox-Gastaut syndrome in patients two years of age and older. Pursuant to the terms of the ET-105 License Agreement, the Company was to be responsible for marketing activities and Aucta will be responsible for development, manufacturing, and regulatory activities related to obtaining regulatory approval. The Company paid Aucta a licensing payment of $2,000 in August 2019 upon receiving an acceptance for review letter from the FDA and will pay $2,450 upon FDA approval and commercial sales of the product candidate and another $1,000 upon issuance of an Orange-book listed patent. If Aucta successfully completes a Lamotrigine product line extension product, Eton will pay $1,500 upon FDA acceptance of the product filing and $1,950 upon FDA approval and commercial sales of the extension product candidate. Aucta will receive a low double-digit royalty on net sales and will be entitled to receive milestone payments of up to $18,000 based on commercial success of the product, including: ● $1,000 when net sales exceed $10 million in a calendar year ● $2,000 when net sales exceed $20 million in a calendar year ● $5,000 when net sales exceed $50 million in a calendar year ● $10,000 when net sales exceed $100 million in a calendar year Eton will remain responsible for certain licensing fee obligations owed to its development partners and Azurity will assume royalty or profit share obligations owed to development partners On March 27, 2020, the Company entered into an Exclusive Licensing and Supply Agreement (the “Alkindi License Agreement”) with Diurnal for marketing Alkindi Sprinkle in the United States. Alkindi Sprinkle’s New Drug Application (NDA) was approved by the FDA on September 29, 2020 as a replacement therapy for pediatric adrenal insufficiency (AI), including congenital adrenal hyperplasia (CAH) in patients from birth to less than 17 years of age. For the initial licensing milestone fee, the Company paid Diurnal $3,500 in cash and issued 379,474 shares of its common stock to Diurnal which were valued at $1,264 based on the Company’s closing stock price of $3.33 on March 26, 2020 (see Note 7). The total amount of $4,764 was recorded as a component of research and development expense in the Company’s statement of operations for the year ended December 31, 2020. The Company will also pay Diurnal $2,500 if the product obtains orphan drug exclusivity status from the FDA. Indemnification As permitted under Delaware law and in accordance with the Company’s Amended and Restated Bylaws, the Company is required to indemnify its officers and directors for certain events or occurrences while the officer or director is or was serving in such capacity. The Company is also party to indemnification agreements with its directors and officers. The Company believes the fair value of the indemnification rights and agreements is minimal. Accordingly, the Company has not recorded any liabilities for these indemnification rights and agreements as of December 31, 2020 or 2019.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Note 16 — Subsequent Events In February 2021, the Company sold its pediatric neurology portfolio to Azurity Pharmaceuticals (“Azurity”). The portfolio included the Company’s Lamotrigine (ET-105), Zonisamide (ET-104), and Topiramate (ET-101) product candidates, which have all been submitted to the U.S. Food and Drug Administration as new drug applications and are currently under review by the FDA. Azurity will assume control of all three products and will be responsible for commercialization following regulatory approval. The Company will support Azurity in the transition and through regulatory approval. Under the terms of the transaction, the Company will receive up to $45,000 in payments from Azurity under the following schedule: - $15,000 at closing, of which $9,500 was received in February 2021 and $5,500 is held in escrow until certain product-related milestones are achieved; - $15,000 upon achievement of FDA approval and product launch milestones; and - $15,000 upon achievement of commercial sales milestones. In addition, the Company will receive a single digit percentage royalty on Azurity’s net sales of the products. The Company will remain responsible for certain licensing fee obligations owed to its development partners (see Note 15) and Azurity will assume royalty or profit share obligations owed to the development partners. The Company paid milestones of $550 to Aucta Pharmaceuticals and $200 to Tulex Pharmaceuticals in February 2021 conjunction with the sale of the pediatric neurology products to Azurity. The Company’s proceeds from the transaction will be used for business development activities targeting additional late-stage orphan drug products.

Schedule II Valuation and Quali

Schedule II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule II Valuation and Qualifying Accounts	Schedule II Valuation and Qualifying Accounts (in thousands) Balance at Beginning of Period Additions Deductions Balance at For the year ended December 31, 2020 Accounts receivable allowances (1) $ 116 $ 90 $ (135 ) $ 71 Inventories reserve $ — $ 623 $ — $ 623 For the year ended December 31, 2019 Accounts receivable allowances (1) $ — $ 116 $ — $ 116 For the year ended December 31, 2018 Accounts receivable allowances (1) $ — $ — $ — $ — (1) Allowances are for chargebacks, prompt payment discounts, distribution fees, and returns & allowances related to Biorphen and Alkindi Sprinkle product sales. The inventories reserve is for Biorphen that is at risk of expiry before it can be sold.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company has prepared the accompanying financial statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”).
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, provisions for uncollectible receivables and sales returns, valuation of inventories, useful lives of assets and the impairment of property and equipment, the accrual of research and development expenses and the valuation of common stock, stock options, warrants and derivative instruments. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates or assumptions.
Segment Information	Segment Information The Company operates the business on the basis of a single reportable segment, which is the business of developing and commercializing prescription drug products. The Company’s chief operating decision-maker is the Chief Executive Officer (“CEO”), who evaluates the Company as a single operating segment.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. All cash and cash equivalents are held in U.S. financial institutions or invested in short-term U.S. treasury bills. Cash equivalents consist of an interest-bearing checking account and a U.S. treasury bill. From time to time, amounts deposited with its bank exceed federally insured limits. The Company believes the associated credit risk to be minimal.
Accounts Receivable	Accounts Receivable Accounts receivable are recorded at the invoiced amount and are non-interest bearing. Accounts receivable are recorded net of allowances for doubtful accounts, cash discounts for prompt payment, distribution fees, chargebacks and returns and allowances. The total for these reserves amounted to $71 and $116 as of December 31, 2020 and 2019, respectively.
Inventories	Inventories The Company values its inventories at the lower of cost or net realizable value using the first-in, first-out method of valuation. The Company reviews its inventories for potential excess or obsolete issues on an ongoing basis and will record a write-down if an impairment is identified. Inventories at December 31, 2020 and 2019 consist solely of purchased finished goods. At December 31, 2020, inventories are shown net of a slow-moving reserve for its Biorphen product of $623 due to the risk of expiry before this entire stock of inventories is sold. There was no inventory reserve at December 31, 2019.
Property and Equipment	Property and Equipment Property and equipment are stated at cost. Depreciation of property and equipment is computed utilizing the straight-line method based on the following estimated useful lives. Computer hardware and software is depreciated over three years. Equipment, furniture and fixtures is depreciated over five years. Leasehold improvements are amortized over their estimated useful lives or the remaining lease term, whichever is shorter. Construction in progress is capitalized but not depreciated until it is placed into service. Maintenance and repairs are charged to expense as incurred, while renewals and improvements are capitalized.
Intangible Assets	Intangible Assets The Company capitalizes payments it makes for licensed products when the payment is based on FDA approval for the product and the cost is recoverable based on expected future cash flows from the product. The cost is amortized on a straight-line basis over the estimated useful life of the product commencing on the approval date in accordance with Accounting Standards Codification (“ASC”) 350 — Intangibles - Goodwill and Other. A $750 payment related to the approval of the Company’s Biorphen product in 2019 has been capitalized and that cost is being amortized over five years. The intangible assets, net on the Company’s balance sheet reflected $175 and $25 of accumulated amortization as of December 31, 2020 and 2019, respectively. The Company recorded amortization expense of $150 and $25 for the years ended December 31, 2020 and 2019, respectively and will record amortization expense of $150 per year for this intangible asset for 2021 through 2023 and then $125 in 2024 when it will be fully amortized.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the Company’s statements of operations for the amount by which the carrying amount of the asset exceeds the fair value of the asset. No impairment was recognized during the years ended December 31, 2020, 2019 and 2018.
Debt Issuance Costs and Debt Discount and Detachable Debt-Related Warrants	Debt Issuance Costs and Debt Discount and Detachable Debt-Related Warrants Costs incurred to issue debt are deferred and recorded as a reduction to the debt balance in the accompanying balance sheets. The Company amortizes debt issuance costs over the expected term of the related debt using the effective interest method. Debt discounts relate to the relative fair value of warrants issued in conjunction with the debt and are also recorded as a reduction to the debt balance and accreted over the expected term of the debt to interest expense using the effective interest method.
Classification and Accretion of Redeemable Convertible Preferred Stock	Classification and Accretion of Redeemable Convertible Preferred Stock Prior to the Company’s IPO in November 2018, the Company classified the Series A Preferred outside of stockholders’ equity (deficit) because the shares contained certain redemption features that were not solely within the control of the Company. The carrying value of the Series A Preferred was accreted to its redemption value from the date of issuance through November 15, 2018, the date of the Company’s IPO. In conjunction with the IPO, the Series A Preferred, including accrued and unpaid dividends, automatically converted to shares of the Company’s common stock (see Note 6).
Beneficial Conversion Feature	Beneficial Conversion Feature Prior to the IPO in November 2018, the Company classified its Series A Preferred as temporary equity due to a possible cash redemption feature in the event that an IPO or alternate financing was not completed by December 31, 2018. At the IPO date, the Series A Preferred, and related accrued and unpaid dividends, automatically converted into shares of the Company’s common stock. The conversion share calculation was based on the $3.00 initial issuance price for the Series A Preferred plus any accrued but unpaid dividends and converted to common stock using a stated divisor conversion price equal to 50% of the IPO price to the public, which was $6.00 per share. In accordance with relevant accounting literature, since the stated terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred when the contingent event occurred, the Company recorded the beneficial conversion amount of $21,747 as a deemed dividend at the date of the IPO in November 2018.
Leases	Leases The Company adopted ASC Topic 842 — Leases, effective January 1, 2019, using the modified retrospective method. The reported results for fiscal years 2020 and 2019 reflect the application of ASC Topic 842, while the reported results for the year ended December 31, 2018 are not adjusted and continue to be reported under the prior ASC Topic 840 guidance for leases. The Company reviews all relevant facts and circumstances of a contract to determine if it is a lease whereby the terms of the agreement convey the right to control the direct use and receive substantially all of the economic benefits of an identified asset for a period of time in exchange for consideration. The associated right-of-use assets and lease liabilities are recognized at lease commencement. The Company measures lease liabilities based on the present value of the lease payments over the lease term discounted using the rate it would pay on a loan with the equivalent payments and term for the lease. The Company does not include the impact for lease term options that would extend or terminate the lease unless it is reasonably certain that it will exercise any such options. The Company accounts for the lease components separately from non-lease components for its operating leases. The Company measures right-of-use assets based on the corresponding lease liabilities adjusted for (i) any prepayments made to the lessor at or before the commencement date, (ii) initial direct costs it incurs, and (iii) any incentives under the lease. In addition, the Company evaluates the recoverability of its right-of-use assets for possible impairment in accordance with its long-lived assets policy. Operating leases are reflected on the balance sheets as operating lease right-of-use assets, current accrued liabilities and long-term operating lease liabilities. The Company does not have any finance leases as of December 31, 2020 and 2019. The Company commences recognizing operating lease expense when the lessor makes the underlying asset available for use by the Company and the operating lease expense is recognized on a straight-line basis. Variable lease payments are expensed as incurred. The Company does not recognize right-of-use assets or lease liabilities for leases with a term of twelve months or less; such lease costs are recorded in the statements of operations on a straight-line basis over the lease term.
Patent Costs	Patent Costs All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses.
Concentrations of Credit Risk, Sources of Supply and Significant Customers	Concentrations of Credit Risk, Sources of Supply and Significant Customers The Company is subject to credit risk for its cash and cash equivalents which are invested in money market funds and a U.S. treasury bill. The Company maintains its cash and cash equivalent balances with one major commercial bank and the deposits held with the financial institution exceed the amount of insurance provided on such deposits and is exposed to credit risk in the event of a default by the financial institutions holding its cash and cash equivalents to the extent recorded on the balance sheets. The Company is dependent on third-party suppliers for its products and product candidates. In particular, the Company relies, and expects to continue to rely, on a small number of suppliers to manufacture key chemicals, approved products and process its product candidates as part of its development programs. These programs could be adversely affected by a significant interruption in the manufacturing process. The Company is also subject to credit risk from its accounts receivable related to product sales as it extends credit based on an evaluation of the customer’s financial condition, and collateral is not required. Management monitors its exposure to accounts receivable by periodically evaluating the collectability of the account receivable based on a variety of factors including the length of time the receivables are past due, the financial health of the customer and historical experience. Based upon the review of these factors, the Company recorded no allowance for doubtful accounts at December 31, 2020 or 2019. The accounts receivable balance at December 31, 2020 and 2019 and product sales revenue recognized during the year ended December 31, 2020 and 2019 consist of sales to and amounts due from AmerisourceBergen Corporation, Cardinal Health Services and McKesson Corporation for sales of the Company’s Biorphen product. The December 31, 2020 accounts receivable balance and sales in 2020 also include sales to and amounts due from AnovoRx for sales of the Company’s Alkindi Sprinkle product which launched in December 2020.
Revenue Recognition for Contracts with Customers	Revenue Recognition for Contracts with Customers The Company accounts for contracts with its customers in accordance with ASC 606 — Revenue from Contracts with Customers. ASC 606 applies to all contracts with customers, except for contracts that are within the scope of other standards. Under ASC 606, an entity recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the entity performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Arrangements that include rights to additional goods or services that are exercisable at a customer’s discretion are generally considered options. The Company assesses whether these options provide a material right to the customer and, if so, they are considered performance obligations. The exercise of a material right is accounted for as a contract modification for accounting purposes. The Company recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) each performance obligation is satisfied at a point in time or over time, and if over time this is based on the use of an output or input method. Any amounts received prior to revenue recognition will be recorded as deferred revenue. Amounts expected to be recognized as revenue within the twelve months following the balance sheet date will be classified as current portion of deferred revenue in the Company’s balance sheets. Amounts not expected to be recognized as revenue within the twelve months following the balance sheet date are classified as long-term deferred revenue, net of current portion. Milestone Payments Royalties – Significant Financing Component – The Company sells Biorphen in the U.S. to wholesale pharmaceutical distributors, who then sell the product to hospitals and other end-user customers. Sales to wholesalers are made pursuant to purchase orders subject to the terms of a master agreement, and delivery of individual shipments of Biorphen represent performance obligations under each purchase order. The Company uses a third-party logistics (“3PL”) vendor to process and fulfill orders and has concluded it is the principal in the sales to wholesalers because it controls access to the 3PL vendor services rendered and directs the 3PL vendor activities. The Company has no significant obligations to wholesalers to generate pull-through sales. In addition, the Company sells its Alkindi Sprinkle product to one pharmacy distributor customer which provides order fulfilment and inventory storage/distribution services. Selling prices initially billed to wholesalers are subject to discounts for prompt payment and subsequent chargebacks when the wholesalers sell Biorphen at negotiated discounted prices to members of certain group purchasing organizations (“GPOs”) and government programs. In addition, the Company pays fees to wholesalers for their distribution services, inventory reporting and chargeback processing. The Company pays GPOs fees for administrative services and for access to GPO members and concluded the benefits received in exchange for these fees are not distinct from its sales of Biorphen, and accordingly it applies these amounts to reduce revenues. Wholesalers also have rights to return unsold product nearing or past the expiration date. Because of the shelf life of Biorphen and the Company’s lengthy return period, there may be a significant period of time between when the product is shipped and when it issues credits on returned product. For its Alkindi Sprinkle product, the Company bills at the initial product list price which are subject to offsets for patient co-pay assistance and potential state Medicaid reimbursements which are recorded as a reduction of net revenues at the date of sale/shipment. The Company estimates the transaction price when it receives each purchase order taking into account the expected reductions of the selling price initially billed to the wholesaler/distributor arising from all of the above factors. The Company has developed estimates for future returns and chargebacks of Biorphen and the impact of the other discounts and fees it pays while Alkindi Sprinkle sales to its distributor are not subject to returns. When estimating these adjustments to the transaction price, the Company reduces it sufficiently to be able to assert that it is probable that there will be no significant reversal of revenue when the ultimate adjustment amounts are known. The Company recognizes revenue from Biorphen product sales and related cost of sales upon product delivery to the wholesaler location. At that time, the wholesalers take control of the product as they take title, bear the risk of loss of ownership, and have an enforceable obligation to pay the Company. They also have the ability to direct sales of product to their customers on terms and at prices they negotiate. Although wholesalers have product return rights, the Company does not believe they have a significant incentive to return the product. The Company stores its Alkindi Sprinkle inventory at its pharmacy distributor customer location and sales are recorded when stock is pulled and shipped to fulfill specific patient orders. Upon recognition of revenue from product sales, the estimated amounts of credit for product returns, chargebacks, distribution fees, prompt payment discounts, state Medicaid and GPO fees are included in sales reserves, accrued liabilities and net of accounts receivable. The Company monitors actual product returns, chargebacks, discounts and fees subsequent to the sale. If these amounts end up differing from its estimates, it will make adjustments to these allowances, which are applied to increase or reduce product sales revenue and earnings in the period of adjustment. In addition, the Company anticipates it will receive revenues from product licensing agreements where it has contracted for milestone payments and royalties from products it has developed or for which it has acquired the rights to a product developed by a third party.
Cost of Product Sales	Cost of Product Sales Cost of product sales consists of the profit-sharing and royalty fees with the Company’s product licensing and development partners, the purchase costs for finished products from third-party manufacturers and freight and handling/storage costs from the Company’s 3PL logistics service providers. The cost of sales for profit-sharing and royalty fees and costs for purchased finished products and the associated inbound freight expense is recorded when the associated product sale revenue is recognized in accordance with the terms of shipment to customers while outbound freight and handling/storage fees charged by the 3PL service provider are expensed as they are incurred. Cost of sales also reflects any write-downs or reserve adjustments for the Company’s inventories.
Research and Development Expenses	Research and Development Expenses Research and development (“R&D”) expenses include both internal R&D activities and external contracted services. Internal R&D activity expenses include salaries, benefits and stock-based compensation and other costs to support the Company’s R&D operations. External contracted services include product development efforts such as certain product licensor milestone payments, clinical trial activities, manufacturing and control-related activities and regulatory costs. R&D expenses are charged to operations as incurred. The Company reviews and accrues R&D expenses based on services performed and relies upon estimates of those costs applicable to the stage of completion of each project. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Upfront payments and milestone payments made for the licensing of technology for products that are not yet approved by the FDA are expensed as R&D in the period in which they are incurred. Nonrefundable advance payments for goods or services to be received in the future for use in R&D activities are recorded as prepaid expenses and are expensed as the related goods are delivered or the services are performed.
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic net loss per common share is computed by dividing net loss attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders for the period by the weighted average number of common and common equivalent shares, such as Series A Preferred, unvested restricted stock, stock options and warrants that are outstanding during the period. Common stock equivalents are excluded from the computation when their inclusion would be anti-dilutive. No such adjustments were made for 2020, 2019 or 2018 as the Company reported a net loss for the years ended December 31, 2020, 2019 and 2018 and including the effects of common stock equivalents in the diluted earnings per share calculation would have been antidilutive (see Note 10).
Warrant Liability	Warrant Liability The Company estimated the fair value of certain warrants at each reporting period using Level 3 inputs. The estimates in valuation models were based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the exercise price of the warrants. Changes in the fair value of the warrant liability during the period were recorded as a component of other income (expense) at the end of each reporting period for changes in fair value until the Company’s IPO in November 2018, which established a fixed number of shares for these warrants. At the date of the IPO, the warrant liability amount was reclassified as a component of additional paid-in-capital.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation under the provisions of ASC — 718 Compensation — Stock Compensation. The guidance under ASC 718 requires companies to estimate the fair value of the stock-based compensation awards on the date of grant and record expense over the related service periods, which are generally the vesting period of the equity awards. The Company estimates the fair value of stock-based option awards using the Black-Scholes-Merton option-pricing model (“BSM”). The BSM requires the input of subjective assumptions, including the expected stock price volatility, the calculation of expected term, forfeitures and the fair value of the underlying common stock on the date of grant, among other inputs. The risk-free interest rate was determined from the implied yields for zero-coupon U.S. government issues with a remaining term approximating the expected life of the options or warrants. Dividends on common stock are assumed to be zero for the BSM valuation of the stock options. The expected term of stock options granted is based on vesting periods and the contractual life of the options. Expected volatilities are based on comparable companies’ historical volatility along with a limited weighting included for the Company’s own volatility subsequent to its IPO, which management believes represents the most accurate basis for estimating expected future volatility under the current conditions. The Company accounts for forfeitures as they occur. Since the IPO in November 2018, the Company has used the closing common stock price on the date of grant for the fair value of the common stock. Prior to the Company’s IPO, the fair value of the shares of the Company’s common stock underlying its stock-based awards was determined by its board of directors, with input from management. Because there had been no public market for the Company’s common stock prior to the IPO, the board of directors had determined the fair value of the common stock on the grant-date of the stock-based award by considering a number of objective and subjective factors, including enterprise valuations of its common stock performed by an unrelated third-party specialist, valuations of comparable companies, sales of its convertible preferred stock to unrelated third parties, operating and financial performance, the lack of liquidity of the capital stock, and general and industry-specific economic outlook. Following the IPO in November 2018, the Company uses the closing stock price on the date of grant for the fair value of the common stock.
Income Taxes	Income Taxes As part of the process of preparing the Company’s financial statements, the Company must estimate the actual current tax liabilities and assess temporary differences resulting from differing treatment of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within the balance sheets. The Company must assess the likelihood that the deferred tax assets will be recovered from future taxable income and, to the extent the Company believes that recovery is not likely, a valuation allowance must be established. To the extent the Company establishes a valuation allowance or increase or decrease to this allowance in a period, the impact will be included in income tax expense in the statements of operations. As of December 31, 2020 and 2019, the Company has established a 100% valuation reserve against its deferred tax assets. The Company accounts for income taxes under the provisions of ASC 740 - Income Taxes. As of December 31, 2020 and 2019, there were no unrecognized tax benefits included in the balance sheets that would, if recognized, affect the effective tax rate. The Company’s practice is to recognize interest and penalties related to income tax matters in income tax expense. The Company had no accrual for interest or penalties in its balance sheets at December 31, 2020 or 2019, and has not recognized interest and penalties in the statements of operations for the years ended December 31, 2020, 2019 and 2018. As of December 31, 2020, the Company is subject to taxation in the United States and certain individual states – primarily Illinois and Tennessee. The Company’s tax losses from 2017 through 2020 are subject to examination by the federal and state tax authorities due to the carryforward of unutilized net operating losses (“NOLs”). The Tax Cuts and Jobs Act of 2017 (the “Tax Act”) significantly revised U.S. corporate income tax law by, among other things, reducing the corporate income tax rate to 21% and implementing a modified territorial tax system. In response to the Tax Act, the SEC issued Staff Accounting Bulletin (“SAB”) 118 which allows issuers to recognize provisional estimates of the impact of the Tax Act in their financial statements and adjust in the period in which the estimates become finalized, or in circumstances where estimates cannot be made, to disclose and recognize within a one-year measurement period. Current accounting standards include guidance on the accounting for uncertainty in income taxes recognized in the financial statements. Such standards also prescribe a recognition threshold and measurement model for the financial statement recognition of a tax position taken, or expected to be taken, and provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company believes that the ultimate deductibility of all tax positions is highly certain, although there is uncertainty about the timing of such deductibility. As a result, no liability for uncertain tax positions was recorded as of December 31, 2020 or 2019.
Fair Value Measurements	Fair Value Measurements We measure certain of our assets and liabilities at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value accounting requires characterization of the inputs used to measure fair value into a three-level fair value hierarchy as follows: Level 1 Level 2 Level 3 Fair value measurements are classified based on the lowest level of input that is significant to the measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values stated below takes into account the market for the Company’s financials, assets and liabilities, the associated credit risk and other factors as required. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. The Company’s financial instruments included cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, PPP and EIDL loans and long-term debt obligation. The carrying amounts of these financial instruments, except for the PPP and EIDL loans and long-term debt obligation, approximate their fair values due to the short-term maturities of these instruments. Based on borrowing rates currently available to the Company, the carrying value of the PPP and EIDL loans and long-term debt obligation approximate their fair values. The fair values of the Company’s warrant liability at inception and for subsequent mark-to-market fair value measurements were based on management’s valuation model and expectations with respect to the method and timing of settlement. The Company determined that the warrant liability fair values were classified as Level 3 measurements within the fair value hierarchy. At the date of the Company’s IPO in November 2018, the fair value was reclassified to additional paid-in-capital as the final number of shares for the warrants previously reflected as a liability became fixed (see Note 6).
Impact of New Accounting Pronouncements	Impact of New Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. The standard amends the impairment model by requiring entities to use a forward-looking approach based on expected losses to estimate credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. For available-for-sale debt securities, entities will be required to recognize an allowance for credit losses rather than a reduction in carrying value of the asset. Entities will no longer be permitted to consider the length of time that fair value has been less than amortized cost when evaluating when credit losses should be recognized. The Company adopted the new guidance on January 1, 2020 which did not have a material impact on its financial position or results of operations. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820). The new guidance removes, modifies and adds to certain disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement. The Company adopted the new guidance on January 1, 2020 which did not have a material impact on its financial position or results of operations. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. The new guidance removes certain exceptions to the general principles of ASC 740 in order to simplify the complexities of its application. These changes include eliminations to the exceptions for intraperiod tax allocation, recognizing deferred tax liabilities related to outside basis differences, and year-to-date losses in interim periods among others. The Company adopted ASU 2019-12 in January 2020 and it did not have have a material impact on its financial position or results of operations.

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consist of the following: December 31, 2020 December 31, 2019 Computer hardware and software $ 182 $ 174 Furniture and fixtures 143 133 Equipment 994 994 Leasehold improvements 184 152 Construction in progress — 9 1,503 1,462 Less: accumulated depreciation and amortization (692 ) (345 ) Property and equipment, net $ 811 $ 1,117

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Future Payments of Long Term Debt	The table below reflects the future annual payments for the SWK loan principal and interest as of December 31, 2020. Amount 2021 $ 849 2022 2,202 2023 1,756 2024 5,300 Total payments 10,107 Less: amount representing interest (3,107 ) Loan payable, gross 7,000 Less: unamortized discount (468 ) Long-term debt, net of unamortized discount $ 6,532

Common Stock Warrants (Tables)

Common Stock Warrants (Tables)	12 Months Ended
	Dec. 31, 2020
Warrants and Rights Note Disclosure [Abstract]
Summary of Warrants Outstanding	Listed below is a summary of warrants outstanding as of December 31, 2020: Description of Warrants No. of Shares Exercise Price Business Advisory Warrants – 2017 600,000 $ 0.01 Placement Agent Warrants – 2017 Preferred Stock Offering 607,096 $ 3.00 Placement Agent Warrants - IPO 414,000 $ 7.50 SWK Warrants – Debt (Tranche #1) 51,239 5.86 SWK Warrants – Debt (Tranche #2) 18,141 $ 6.62 Total 1,690,476 $ 3.17 (Avg)
Summary of Rollforward of the Warrants Outstanding	A rollforward of the warrants outstanding is listed in the table below: No. of Shares Balance as of the beginning of the year 1,672,335 Issuance of SWK Warrants with long-term debt 18,141 Balance as of the end of the year 1,690,476

Share-Based Payment Awards (Tab

Share-Based Payment Awards (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	A summary of stock option activity is as follows: Shares Weighted Average Exercise Weighted Average Remaining Aggregate Intrinsic Options outstanding as of January 1, 2020 1,829,878 $ 4.01 8.1 $ 6,014 Issued 1,457,000 4.04 Exercised (194,878 ) 1.31 Forfeited/Cancelled (267,500 ) 5.70 Options outstanding as of December 31, 2020 2,824,500 $ 4.05 8.3 $ 11,525 Options exercisable at December 31, 2020 1,318,798 $ 3.92 7.9 $ 5,551 Options vested and expected to vest at December 31, 2020 2,774,500 $ 4.10 8.4 $ 11,187
Schedule of Assumptions Used to Calculate Fair Value of Options Granted	The assumptions used to calculate the fair value of options granted during the years ended December 31, 2020, 2019, and 2018 under the BSM were as follows: December 31, 2020 December 31, 2019 December 31, 2018 Expected dividends — % — % — % Expected volatility 95 % 90 % 85 % Risk-free interest rate 0.4-0.7 % 1.9-2.5 % 2.8-2.9 % Expected term 5.9 years 5.9 years 6.3 years Weighted average fair value $ 3.06 $ 5.54 $ 3.39
Summary of Activity for Restricted Stock Awards	A summary of activity for RSAs and RSUs is as follows: Restricted Stock Awards Number of shares Unvested as of January 1, 2020 — Issued 15,190 Vested (7,595 ) Forfeited/Cancelled — Unvested as of December 31, 2020 7,595

Basic and Diluted Net Loss Pe_2

Basic and Diluted Net Loss Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss Per Common Share	The following table shows the computation of basic and diluted net loss per common share: Year ended December 31, Year ended December 31, Year ended Net loss $ (27,970 ) $ (18,320 ) $ (12,740 ) Series A Preferred – dividends (accrued and deemed) — — (24,489 ) Net loss attributable to common stockholders (27,970 ) (18,320 ) $ (37,229 ) Weighted average common shares outstanding (basic and diluted) 21,010,058 17,760,761 6,417,840 Net loss per common share (basic and diluted) $ (1.33 ) $ (1.03 ) $ (5.80 )

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Lease-related Assets and Liabilities	The table below presents the lease-related assets and liabilities recorded on the balance sheet as of December 31, 2020: Assets Classification Operating lease right-of-use assets Operating lease right-of-use assets, net $ 192 Total leased assets $ 192 Liabilities Operating lease liabilities, current Accrued liabilities $ 82 Operating lease liabilities, noncurrent Operating lease liabilities, net of current portion 99 Total operating lease liabilities $ 181
Schedule of Annual Lease Commitments	The Company’s future annual lease commitments as of December 31, 2020 are as indicated below: Total 2021 2022 2023 Undiscounted lease payments $ 192 $ 90 $ 87 $ 15 Less: Imputed interest (11 ) Total lease liabilities $ 181

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The provision for income taxes for the Company consists of the following for the years ended December 31, 2020, 2019 and 2018: Year ended Year ended Year ended December 31, December 31, December 31, 2020 2019 2018 Current: Federal $ — $ — $ — State — — — Total current expense — — — Deferred: Federal 6,020 3,961 1,900 State 2,151 1,415 679 Change in valuation allowance (8,171 ) (5,376 ) (2,579 ) Total deferred expense — — — Total provision $ — $ — $ —
Schedule of Deferred Tax Assets	The significant components of the Company’s deferred tax assets as of December 31, 2020 and 2019 are as follows: December 31, December 31, 2020 2019 Net operating losses $ 16,250 $ 8,879 Stock-based expenses 1,257 662 Accruals and other 396 190 Total deferred tax assets 17,903 9,731 Valuation allowance (17,903 ) (9,731 ) Net deferred tax assets $ — $ —
Schedule of Reconciliation of Statutory Federal Tax Rate	A reconciliation of the statutory federal tax rate to effective tax rate is shown below: Year ended December 31 Year ended December 31, Year ended 2020 2019 2018 Benefit at statutory rate (21.0 )% (21.0 )% (21.0 )% Permanent items (primarily warrants and stock compensation) (0.5 ) (0.6 ) 6.0 State tax benefit (7.7 ) (7.7 ) (5.3 ) Federal rate change — — — Other items — — — Establishment of valuation allowance 29.2 29.3 20.3 Income tax expense — % — % — %

Company Overview (Details Narra

Company Overview (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended					2 Months Ended	12 Months Ended
	Oct. 31, 2020	Aug. 31, 2020	Nov. 30, 2019	Nov. 30, 2018	Jun. 30, 2017	Apr. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Start-up capital					$ 20,055
Net cash proceeds from initial public offering									$ 22,803
Proceeds from loan offering		$ 1,965	$ 4,750				1,965	4,750
Proceeds from sale of shares of common stock						$ 7,756	$ 28,782
Initial Public Offering [Member]
Net cash proceeds from initial public offering	$ 21,026			$ 21,960
Common stock share price per share	$ 7						$ 3

Liquidity Considerations (Detai

Liquidity Considerations (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 28, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated deficit		$ (92,158)	$ (64,188)
Net cash used in operating activities		(22,346)	(18,026)	$ (8,145)
Cash and cash equivalents		$ 21,295	$ 12,066
Subsequent Event [Member]
Proceeds from sale of neurology products	$ 9,500

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Nov. 30, 2018USD ($)$ / shares	Dec. 31, 2020USD ($)Segment$ / shares	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Oct. 31, 2020$ / shares	Jun. 30, 2017$ / shares
Number of reportable segments | Segment		1
Accounts receivable reserves		$ 71	$ 116
Inventory reserve		623
Payment of product licensing rights			750
Product licensing rights amortized, description		Cost is being amortized over five years.
Accumulated amortization of intangible assets		$ 175	25
Amortization expenses of intangible assets		150	25
Amortization expenses of intangible assets, 2021		150
Amortization expenses of intangible assets, 2022		150
Amortization expenses of intangible assets, 2023		150
Amortization expenses of intangible assets, 2024		125
Impairment of long-lived assets
Percentage for valuation reserve against deferred tax assets		100.00%	100.00%
Corporate income tax rate		21.00%	21.00%	21.00%
Redeemable Convertible Preferred Stock - Series A [Member]
Share issue initial price per share | $ / shares						$ 3
Initial Public Offering [Member]
Share issue initial price per share | $ / shares		$ 3			$ 7
Percentage of common stock issue price for conversion		50.00%
Beneficial conversion amount	$ 21,747
Initial Public Offering [Member] | Redeemable Convertible Preferred Stock - Series A [Member]
Share issue initial price per share | $ / shares	$ 6	$ 6
Percentage of common stock issue price for conversion	50.00%
Beneficial conversion amount	$ 21,747
Computer Software and Hardware [Member]
Estimated useful lives for property and equipment		3 years
Equipment, Furniture and Fixtures [Member]
Estimated useful lives for property and equipment		5 years
Leasehold Improvements [Member]
Estimated useful lives for property and equipment, description		Estimated useful lives or the remaining lease term

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 651	$ 447	$ 63

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Computer hardware and software	$ 182	$ 174
Furniture and fixtures	143	133
Equipment	994	994
Leasehold improvements	184	152
Construction in progress		9
Property and equipment, gross	1,503	1,462
Less: accumulated depreciation and amortization	(692)	(345)
Property and equipment, net	$ 811	$ 1,117

Debt (Details Narrative)

Debt (Details Narrative) $ / shares in Units, $ in Thousands	Aug. 11, 2020USD ($)Segment$ / shares	Jul. 21, 2020USD ($)	May 04, 2020USD ($)	Nov. 13, 2019USD ($)	Nov. 15, 2018USD ($)Segment	Nov. 30, 2019USD ($)	Dec. 31, 2020USD ($)Segment$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)	Aug. 31, 2020$ / sharesshares
Borrowing amount	$ 2,000			$ 2,000
Warrants issued to purchase common stock | shares							1,690,476	1,672,335
Warrants exercise price | $ / shares							$ 3.17
Warrants, fair value									$ 2,583
Interest expenses							884	98
Debt discount amortization							121	16
Accrued interest							48	$ 82
PPP Loan [Member]
Description of borrowing			The loan bears a 1.0% annual interest rate and is payable in monthly installments commencing in November 2020, subject to a payment deferral period until August 2021 which the Company has elected to use, until the loan is paid in full on May 4, 2022.
Interest expenses							2
Proceeds from loan			$ 361
Interest rate			0.010
EIDL Loan [Member]
Description of borrowing		The loan bears a 3.75% annual interest rate and is payable in monthly installments commencing on July 21, 2021 until paid in full on July 21, 2050.
Interest expenses							$ 3
Proceeds from loan		$ 150
Interest rate		0.0375
Warrant [Member]
Borrowing amount	2,000
Warrants issued to purchase common stock | shares							51,239			18,141
Warrants exercise price | $ / shares							$ 5.86			$ 6.62
Warrants expiration term							7 years
Warrants, fair value	$ 94				$ 3,103		$ 226
Warrant [Member] | Exercise Price [Member]
Warrants exercise price | $ / shares	$ 6.85						$ 5.75
Warrant [Member] | Contractual Term [Member]
Warrants expiration term	7 years				5 years		7 years
Warrant [Member] | Volatility [Member]
Warrant measurement input | Segment	95						95
Warrant [Member] | Dividend Rate [Member]
Warrant measurement input | Segment	0						0
Warrant [Member] | Risk Free Interest Rate [Member]
Warrant measurement input | Segment	0.4				3		1.8
SWK Credit Agreement [Member]
Borrowing amount				5,000		$ 5,000
Minimum cash balance to be maintain in each quarter end				$ 3,000
Description of borrowing				On November 13, 2019, the Company entered into a credit agreement (the "SWK Credit Agreement") with SWK Holdings Corporation ("SWK") which provided for up to $10,000 in financing. The Company received proceeds of $5,000 at closing and was able to borrow an additional $5,000 upon the FDA approval of a second product developed by the Company, excluding EM-100. In March 2020, in conjunction with the Company's Alkindi Sprinkle product licensing agreement (see Note 15) and the Company's March 2020 sale of additional shares of its common stock (see Note 7), the Company and SWK amended the SWK Credit Agreement. The amendment provided the Company with the option to immediately draw $2,000 and the ability to borrow an additional $3,000 based upon the FDA approval of EM-100 and Alkindi Sprinkle which subsequently occurred in September 2020. Accordingly, the Company borrowed an additional $2,000 on August 11, 2020. The term of the SWK Credit Agreement is for five years and borrowings bear interest at a rate of LIBOR 3-month plus 10.0%, subject to a stated LIBOR floor rate of 2.0%. A 2.0% unused credit limit fee is assessed during the first twelve months after the date of the SWK Credit Agreement and loan fees include a 5.0% exit fee based on the principal amounts drawn which is payable at the end of the term of the SWK Credit Agreement. The Company is required to maintain a minimum cash balance of $3,000, will only pay interest on the debt until May 2022 and then will pay 5.5% of the loan principal balance commencing on February 15, 2022 and then every three months thereafter until November 13, 2024 at which time the remaining principal balance is due. Borrowings under the SWK Credit Agreement are secured by the Company's assets. The SWK Credit Agreement contains customary default provisions and covenants which include limits on additional indebtedness. In March 2020, SWK provided a waiver for the Company to obtain loans with the Small Business Association. The Company is currently in the process of negotiating covenant targets for EBITDA and revenue for the SWK Credit Agreement. In February 2021, the Company notified SWK that it will not require additional borrowing capacity under the SWK Credit Agreement and terminated the additional borrowing capacity with SWK.
SWK Credit Agreement [Member] | Unused lines of Credit [Member]
Borrowings bear interest				2.00%
SWK Credit Agreement [Member] | (LIBOR) Swap Rate [Member]
Borrowings bear interest				10.00%
SWK Credit Agreement [Member] | Stated LIBOR Floor Rate [Member]
Borrowings bear interest				2.00%
SWK Credit Agreement [Member] | Food and Drug Administration's [Member]
Borrowing amount				$ 5,000
SWK Credit Agreement [Member] | Maximum [Member]
Borrowing amount				$ 10,000

Debt - Schedule of Future Annua

Debt - Schedule of Future Annual Payments of Long Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 849
2022	2,202
2023	1,756
2024	5,300
Total payments	10,107
Less: amount representing interest	(3,107)
Loan payable, gross	7,000
Less: unamortized discount	(468)
Long-term debt, net of unamortized discount	$ 6,532	$ 4,540

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Stock - Series A (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Nov. 15, 2018	Nov. 30, 2018	Jun. 30, 2017	Dec. 31, 2020	Oct. 31, 2020
Gross proceeds from series a preferred offering			$ 20,055
Initial Public Offering [Member]
Shares issued price per share				$ 3	$ 7
Percentage of common stock issue price for conversion				50.00%
Beneficial conversion amount		$ 21,747
Initial Public Offering [Member] | Common Stock [Member]
Shares issued price per share		$ 3
Redeemable Convertible Preferred Stock - Series A [Member]
Preferred stock, shares authorized				10,000,000
Preferred stock, par value				$ 0.001
Preferred stock, shares issued			6,685,082
Shares issued price per share			$ 3
Gross proceeds from series a preferred offering				$ 20,055
Redeemable Convertible Preferred Stock - Series A [Member] | Initial Public Offering [Member]
Shares issued price per share		$ 6		$ 6
Gross proceeds from series a preferred offering	$ 20,055
Series a preferred shares, liquidation value	21,746
Accrued dividends	$ 1,691
Percentage of common stock issue price for conversion		50.00%
Beneficial conversion amount		$ 21,747
Accretion of dividends as deemed		$ 2,534

Common Stock (Details Narrative

Common Stock (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Jan. 02, 2018	Oct. 31, 2020	Apr. 30, 2020	Mar. 31, 2020	Nov. 30, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Common stock, shares authorized						50,000,000	50,000,000
Common stock, par value						$ 0.001	$ 0.001
Net cash proceeds from initial public offering								$ 22,803
Value of common stock shares issued						$ 28,782
Vested in April 2021 [Member]
Restricted stock vested percentage						100.00%
2018 Equity Incentive Plan [Member]
Number of stock issued for exercise of stock options						194,878	167,622
Diurnal Limited [Member]
Number of common stock shares issued				379,474
Value of common stock shares issued				$ 1,264
Securities Purchase Agreements [Member]
Sale of stock, number of shares issued in transaction			2,600,000	2,600,000
Sale of stock, price per share			$ 3	$ 3
Proceeds from sale of stock, consideration received on transaction			$ 7,756	$ 7,756
Initial Public Offering [Member]
Number of common stock shares issued		3,220,000
Common stock share price per share		$ 7				$ 3
Net cash proceeds from initial public offering		$ 21,026			$ 21,960
Employee Stock Purchase Plan [Member]
Number of stock issued for exercise of stock options						25,780	44,885
RSA To New Employee [Member]
Stock-based compensation, shares			15,190
Restricted stock vested percentage			25.00%
Common Stock [Member]
Shares of restricted stock	218,980
Value of restricted stock shares issued	$ 300
Restricted shares vested description						The restricted shares issued to the outside directors vested 25% at each quarter-end in 2018 and were fully vested as of December 31, 2018.
Shares converted								7,248,948
Number of common stock shares issued						5,820,000
Value of common stock shares issued						$ 6
Number of stock issued for exercise of stock options						194,878	167,622
Stock-based compensation, shares						15,190		218,980
Number of stock issued for exercise of stock warrants							57,051
Common Stock [Member] | Initial Public Offering [Member]
Shares converted					7,248,948
Common stock share price per share					$ 3
Common Stock [Member] | Four Outside Directors [Member]
Shares of restricted stock	54,745
Common Stock [Member] | Investors [Member] | Initial Public Offering [Member]
Number of common stock shares issued					4,140,000
Warrant [Member]
Number of stock issued for exercise of stock warrants							97,088

Common Stock Warrants (Details

Common Stock Warrants (Details Narrative) $ / shares in Units, $ in Thousands	Aug. 11, 2020USD ($)Segment	Nov. 15, 2018USD ($)Segmentshares	Jun. 30, 2017USD ($)$ / sharesshares	Aug. 31, 2020USD ($)Segment$ / sharesshares	Dec. 31, 2017USD ($)	Dec. 31, 2020USD ($)Segment$ / sharesshares	Dec. 31, 2019USD ($)Segment$ / sharesshares	Dec. 31, 2018USD ($)$ / shares	Nov. 30, 2018$ / sharesshares
Warrant issued to purchase common stock						1,690,476	1,672,335
Warrant exercise price | $ / shares						$ 3.17
Warrant, fair value | $								$ 2,583
Stock price | $ / shares						$ 3.06	$ 5.54	$ 3.39
Consultant, Placement Agent and Debt Holder [Member]
Weighted average exercise price, outstanding warrants | $ / shares							$ 3.17	$ 3.13
Series A Preferred Stock [Member]
Warrant, fair value | $			$ 479		$ 520
Common stock issued upon warrants conversion basis, description			Prior to the Company's IPO in November 2018, the number of common shares issuable upon the exercise of this warrant was not fixed as it could vary by a factor of 1.000 to 1.333 common shares per warrant share in accordance with the IPO price, and the Company considered the warrant to be a derivative instrument.
Preferred stock issuance costs | $			$ 479
Placement Agent [Member] | Series A Preferred Stock [Member]
Common stock issuable upon conversion of preferred stock			191,000
Warrant [Member]
Warrant issued to purchase common stock				18,141		51,239
Warrant exercise price | $ / shares				$ 6.62		$ 5.86
Warrant, fair value | $	$ 94	$ 3,103				$ 226
Warrant expiration term						7 years
Increase in fair value of warrant | $		$ 2,583
Number of stock issued for exercise of stock warrants							97,088
Warrant [Member] | Contractual Term [Member]
Warrant expiration term	7 years	5 years				7 years
Warrant [Member] | Volatility [Member]
Warrant and rights outstanding, measurement input | Segment		85
Warrant [Member] | Risk Free Interest Rate [Member]
Warrant and rights outstanding, measurement input | Segment	0.4	3				1.8
Warrant [Member] | Dividend Rate [Member]
Warrant and rights outstanding, measurement input | Segment	0					0
Warrant [Member] | Placement Agent [Member]
Warrant issued to purchase common stock			649,409
Warrant exercise price | $ / shares			$ 3
Warrants conversion, description			The warrant adjusted to entitle the holder to purchase shares of common stock equal to 10.0% of the shares of common stock issuable upon conversion of the Series A Preferred (excluding 191,000 shares of Series A Preferred that were purchased by insiders) and the exercise price would adjust to the conversion price of the Series A Preferred. This warrant vested at issuance in June 2017.
Warrant [Member] | Initial Public Offering [Member]
Warrant issued to purchase common stock									414,000
Warrant exercise price | $ / shares									$ 7.50
Number of shares issuable upon exercise warrants		704,184
SWK Warrants [Member] | SWK Credit Agreement [Member]
Warrant issued to purchase common stock				18,141			51,239
Warrant exercise price | $ / shares				$ 6.62			$ 5.86
Warrant, fair value | $				$ 94			$ 226
Warrant expiration term							7 years
Warrants exercisable date							Nov. 13, 2026
Relative fair value of warrants to purchase common stock issued in connection with debt | $				94			$ 226
Proceeds from debt amount | $				$ 2,000
SWK Warrants [Member] | Contractual Term [Member] | SWK Credit Agreement [Member]
Warrant expiration term				7 years			7 years
SWK Warrants [Member] | Volatility [Member] | SWK Credit Agreement [Member]
Warrant and rights outstanding, measurement input | Segment				95			95
SWK Warrants [Member] | Risk Free Interest Rate [Member] | SWK Credit Agreement [Member]
Warrant and rights outstanding, measurement input | Segment				0.4			1.8
SWK Warrants [Member] | Share Price [Member] | SWK Credit Agreement [Member]
Stock price | $ / shares				$ 6.85			$ 5.75
SWK Warrants [Member] | Dividend Rate [Member] | SWK Credit Agreement [Member]
Warrant and rights outstanding, measurement input | Segment				0			0
Common Stock [Member]
Number of warrants exercised							97,088
Number of stock issued for exercise of stock warrants							57,051
Intrinsic value of the warrants exercised | $							$ 401

Common Stock Warrants - Summary

Common Stock Warrants - Summary of Warrants Outstanding (Details) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
No. of Shares, Total	1,690,476	1,672,335
Exercise Price	$ 3.17
Business Advisory Warrants [Member]
No. of Shares, Total	600,000
Exercise Price	$ 0.01
Placement Agent Warrants - 2017 Preferred Stock Offering [Member]
No. of Shares, Total	607,096
Exercise Price	$ 3
Placement Agent Warrants - IPO [Member]
No. of Shares, Total	414,000
Exercise Price	$ 7.50
SWK Warrants - Debt Tranche #1 [Member]
No. of Shares, Total	51,239
Exercise Price	$ 5.86
SWK Warrants - Debt Tranche #2 [Member]
No. of Shares, Total	18,141
Exercise Price	$ 6.62

Common Stock Warrants - Summa_2

Common Stock Warrants - Summary of Rollforward of the Warrants Outstanding (Details)	12 Months Ended
	Dec. 31, 2020shares
Warrants and Rights Note Disclosure [Abstract]
Balance as of the beginning of the year	1,672,335
Issuance of SWK Warrants with long-term debt	18,141
Balance as of the end of the year	1,690,476

Share-Based Payment Awards (Det

Share-Based Payment Awards (Details Narrative) $ / shares in Units, $ in Thousands	Jan. 02, 2018Segmentshares	Apr. 30, 2020shares	Dec. 31, 2020USD ($)shares	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2018	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Jan. 02, 2020shares	Jan. 02, 2019shares	May 31, 2017shares
Common stock, shares outstanding			24,312,808				24,312,808	17,877,486
Stock options expiration period							10 years
Stock-based compensation expense | $							$ 2,576	$ 1,888	$ 1,850
Proceeds from stock option exercised | $							367	453
Employees contribution amount | $							117	113	62
General and Administrative Expense [Member]
Stock-based compensation expense | $							2,295	1,574	1,770
Research and Development Expense [Member]
Stock-based compensation expense | $							$ 281	$ 314	$ 80
Common Stock [Member]
Stock-based compensation, shares							15,190		218,980
Stock option exercises, shares							194,878	167,622
Stock Options [Member]
Stock option intrinsic value | $							$ 1,049
Stock option exercises, shares							194,878
Proceeds from stock option exercised | $							$ 255
RSA To New Employee [Member]
Stock-based compensation, shares		15,190
Restricted stock vested percentage		25.00%
Product Consultant [Member]
Number of stock options issued to purchase common stock							50,000
Product Consultant [Member] | Common Stock [Member]
Stock options expiration period							5 years
Restricted Stock [Member] | Outside Directors One [Member]
Shares issued as compensation	54,745
Restricted Stock [Member] | Outside Directors Two [Member]
Shares issued as compensation	54,745
Restricted Stock [Member] | Outside Directors Three [Member]
Shares issued as compensation	54,745
Restricted Stock [Member] | Outside Directors Four [Member]
Shares issued as compensation	54,745
Restricted Stock [Member] | Four Outside Directors [Member]
Shares issued as compensation	218,980
Number of outside directors | Segment	4
Restricted shares to outside directors vesting percentage			25.00%	25.00%	25.00%	25.00%
Stock Option [Member]
Stock options expiration period							10 years
Restricted Stock Awards (RSAs) [Member]
Weighted average grant date fair value, restricted stock | $ / shares							$ 3.95		$ 1.37
Fair value of restricted stock, vested | $							$ 30	$ 66	$ 2,784
Unrecognized compensation costs | $			$ 18				18
Restricted Stock Units (RSUs) [Member]
Fair value of restricted stock, vested | $							0	$ 0	$ 69
Unrecognized compensation costs | $			0				0
Non-Vested Stock Option Awards [Member]
Unrecognized compensation costs | $			$ 4,375				$ 4,375
Vested in April 2021 [Member]
Restricted stock vested percentage							100.00%
2017 Equity Incentive Plan [Member] | Maximum [Member]
Share-based compensation arrangement by share-based payment award, number of shares authorized												5,000,000
2018 Equity Incentive Plan [Member]
Share-based compensation arrangement, shares available for future issuance			398,246				398,246
Share reserve increased										715,099	704,317
Common stock, shares outstanding								17,877,486	17,607,928
Stock option exercises, shares							194,878	167,622
2018 Equity Incentive Plan [Member] | January 1, 2019 and Through January 1, 2028
Percentage for total number of shares outstanding							4.00%
2018 Employee Stock Purchase Plan [Member]
Share-based compensation arrangement, shares available for future issuance									150,000
Stock-based compensation expense | $							$ 71	$ 112	$ 5
Share based compensation for initial shares reserve, description							The Company's ESPP provides for an initial reserve of 150,000 shares and this reserve is automatically increased on January 1 of each year by the lesser of 1% of the outstanding common shares at December 31 of the preceding year or 150,000 shares, subject to reduction at the discretion of the Company's board of directors.
Percentage for purchase stock and fair value of common stock							85.00%
Description for deductions to purchase stock at price per share							After the initial offering period ended, subsequent twelve-month offering periods automatically commence over the term of the ESPP on the day that immediately follows the conclusion of the preceding offering, each consisting of two purchase periods approximately six months in duration.
Weighted average grant date fair value issued | $ / shares							$ 2.32	$ 2.56	$ 2.59
Employees contribution amount | $							$ 115	$ 247
Accrued liabilities for remaining employee contributions | $			$ 18				$ 18	$ 16

Share-Based Payment Awards - Su

Share-Based Payment Awards - Summary of Stock Option Activity (Details) - Stock Option [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)$ / sharesshares
Shares, Options Outstanding, Beginning Balance | shares	1,829,878
Shares, Issued | shares	1,457,000
Shares, Exercised | shares	(194,878)
Shares, Forfeited/Cancelled | shares	(267,500)
Shares, Options Outstanding, Ending Balance | shares	2,824,500
Shares, Options Exercisable, Ending Balance | shares	1,318,798
Shares, Options Vested and Expected to Vest, Ending Balance | shares	2,774,500
Weighted Average Exercise Price, Options Outstanding, Beginning Balance | $ / shares	$ 4.01
Weighted Average Exercise Price, Issued | $ / shares	4.04
Weighted Average Exercise Price, Exercised | $ / shares	1.31
Weighted Average Exercise Price, Forfeited/Cancelled | $ / shares	5.7
Weighted Average Exercise Price, Options Outstanding, Ending Balance | $ / shares	4.05
Weighted Average Exercise Price, Options Exercisable, Ending Balance | $ / shares	3.92
Weighted Average Exercise Price, Options Vested and Expected to Vest, Ending Balance | $ / shares	$ 4.1
Weighted Average Remaining Contractual Term, Options Outstanding, Beginning Balance	8 years 1 month 6 days
Weighted Average Remaining Contractual Term, Options Outstanding, Ending Balance	8 years 3 months 19 days
Weighted Average Remaining Contractual Term, Options Exercisable, Ending Balance	7 years 10 months 25 days
Weighted Average Remaining Contractual Term, Options Vested and Expected to Vest, Ending Balance	8 years 4 months 24 days
Aggregate Intrinsic Value, Options Outstanding, Beginning Balance | $	$ 6,014
Aggregate Intrinsic Value, Options Outstanding, Ending Balance | $	11,525
Aggregate Intrinsic Value, Options Exercisable, Ending Balance | $	5,551
Aggregate Intrinsic Value, Options Vested and Expected to Vest, Ending Balance | $	$ 11,187

Share-Based Payment Awards - Sc

Share-Based Payment Awards - Schedule of Assumptions Used to Calculate Fair Value of Options Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Expected dividends	0.00%	0.00%	0.00%
Expected volatility	95.00%	90.00%	85.00%
Expected term	5 years 10 months 25 days	5 years 10 months 25 days	6 years 3 months 19 days
Weighted average fair value	$ 3.06	$ 5.54	$ 3.39
Minimum [Member]
Risk-free interest rate	0.40%	1.90%	2.80%
Maximum [Member]
Risk-free interest rate	0.70%	2.50%	2.90%

Share-Based Payment Awards - _2

Share-Based Payment Awards - Summary of Activity for Restricted Stock Awards (Details) - Restricted Stock Awards (RSAs) [Member]	12 Months Ended
	Dec. 31, 2020shares
Number of Shares, Unvested, Outstanding, Beginning Balance
Number of Shares, Issued	15,190
Number of Shares, Vested	(7,595)
Number of Shares, Forfeited/Cancelled
Number of Shares, Unvested, Outstanding, Ending Balance	7,595

Basic and Diluted Net Loss Pe_3

Basic and Diluted Net Loss Per Common Share (Details Narrative) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from calculation of diluted net loss per share	3,371,489	3,590,465	8,262,381

Basic and Diluted Net Loss Pe_4

Basic and Diluted Net Loss Per Common Share - Computation of Basic and Diluted Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net loss	$ (27,970)	$ (18,320)	$ (12,740)
Series A Preferred - dividends (accrued and deemed)			(24,489)
Net loss attributable to common stockholders	$ (27,970)	$ (18,320)	$ (37,229)
Weighted average common shares outstanding (basic and diluted)	21,010,000	17,761,000	6,418,000
Net loss per common share (basic and diluted)	$ (1.33)	$ (1.03)	$ (5.80)

Related Party Transactions (Det

Related Party Transactions (Details Narrative) $ / shares in Units, $ in Thousands	Feb. 18, 2019USD ($)	Dec. 26, 2017USD ($)	Nov. 17, 2017	Aug. 11, 2017USD ($)	Jul. 31, 2018USD ($)	Apr. 30, 2018	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)shares	Dec. 30, 2020Products$ / sharesshares
Common stock issued | shares							24,312,808	17,877,486
Common stock par value per share | $ / shares							$ 0.001	$ 0.001
Payment of research and development expense							$ 14,104	$ 11,555	$ 5,627
Credit agreement term			10 years
Amended and Restated Agreement [Member] | Maximum [Member]
Royalties	$ 2,000
Amended and Restated Agreement [Member] | Eyemax, LLC [Member] | One Milestone [Member]
Related party transaction	250
Amended and Restated Agreement [Member] | Eyemax, LLC [Member] | Two Milestone [Member]
Related party transaction	$ 500
Harrow Health Inc [Member]
Common stock issued | shares										3,500,000
Common stock par value per share | $ / shares										$ 0.001
Number of products | Products										2
Harrow Health Inc [Member] | Stock Option [Member]
Stock-based compensation expense							$ 0	0	$ 51
Harrow Health Inc [Member] | Common Stock [Member]
Restricted stock award forfeited | shares									20,000
Percentage of restricted stock and option vested						100.00%
Harrow Health Inc [Member] | Restricted Stock [Member]
Number of restricted common stock issued for services | shares							1,500,000
Number of stock options issued to purchase common stock | shares							130,000
Stock-based compensation expense							$ 0	$ 0	$ 970
Harrow Health Inc [Member] | Licensing Agreement [Member]
Related party transaction					$ 50
Harrow Health Inc [Member] | Research and Development Expense [Member]
Related party transaction		$ 50
Harrow Health Inc [Member] | Patents [Member]
Related party transaction							$ 50
Royalty fee percentage							6.00%
Eyemax, LLC [Member]
Related party transaction				$ 250
Payment of research and development expense				250
Sale of product expense				$ 500
Percentage of royalty fee				10.00%
Credit agreement term				10 years
Related party transaction, description				The Eyemax Agreement was for an initial term of 10 years from the date of the Eyemax Agreement, subject to successive two-year renewals unless the Company elected to terminate the Eyemax Agreement.

Leases (Details Narrative)

Leases (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Oct. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Rights to use of assets	$ 195	$ 192	$ 160
Lease renewed description	In October 2020, the Company renewed its office lease for a two-year period through March 31, 2023
Incremental borrowing rate		7.80%
Estimated discount rate percentage	5.40%
Lease rent expense		$ 139	140	$ 115
Operating lease payment		131	120
Amortization rights to use of assets		$ 129	121
Weighted-average remaining lease term		2 years 7 days
Weighted-average incremental borrowing rate		5.40%
Research and Development Expense [Member]
Operating lease cost		$ 55	84
General and Administrative Expense [Member]
Operating lease cost		55	85
Operating Lease Liability [Member]
Operating lease liabilities	$ 195	$ 181	$ 181

Leases - Schedule of Lease-rela

Leases - Schedule of Lease-related Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Oct. 31, 2020	Dec. 31, 2019
Total leased assets	$ 192	$ 195	$ 160
Operating lease liabilities, noncurrent	99		19
Operating Lease Right-of-use Assets [Member]
Total leased assets			192
Accrued Liabilities [Member]
Operating lease liabilities, current			82
Operating Lease Liabilities Net of Current [Member]
Operating lease liabilities, noncurrent			99
Operating Lease Liability [Member]
Total operating lease liabilities	$ 181	$ 195	$ 181

Leases - Schedule of Annual Lea

Leases - Schedule of Annual Lease Commitments (Details) - Operating Lease Liability [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Oct. 31, 2020	Dec. 31, 2019
2021	$ 90
2022	87
2023	15
Undiscounted lease payments	192
Less: Imputed interest	(11)
Total lease liabilities	$ 181	$ 195	$ 181

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017
Percentage for valuation reserve against deferred tax assets	100.00%	100.00%
Deferred tax asset	$ 17,903	$ 9,731
NOL carryforward	$ 57,008		$ 5,652
Net operating loss carryforward expiration	expire in 2029.
Minimum [Member]
Equity ownership percentage	50.00%
After December 31, 2017 [Member]
NOL carryforward	$ 51,356

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current: Federal
Current: State
Current: Income tax expense
Deferred: Federal	6,020	3,961	1,900
Deferred: State	2,151	1,415	679
Change in valuation allowance	(8,171)	(5,376)	(2,579)
Deferred: Income tax expense
Total provision

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Net operating losses	$ 16,250	$ 8,879
Stock-based expenses	1,257	662
Accruals and other	396	190
Total deferred tax assets	17,903	9,731
Valuation allowance	(17,903)	(9,731)
Net deferred tax assets

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Statutory Federal Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Benefit at statutory rate	(21.00%)	(21.00%)	(21.00%)
Permanent items (primarily warrants and stock compensation)	(0.50%)	(0.60%)	6.00%
State tax benefit	(7.70%)	(7.70%)	(5.30%)
Federal rate change	0.00%	0.00%	0.00%
Other items	0.00%	0.00%	0.00%
Establishment of valuation allowance	29.20%	29.30%	20.30%
Income tax expense	0.00%	0.00%	0.00%

Employee Savings Plan (Details

Employee Savings Plan (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Percentage for tax deferred investment	100.00%
Percentage for matching contribution	4.00%
Employee saving plan for matching contribution	$ 117	$ 113	$ 62

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Mar. 26, 2020	Jun. 12, 2019	Feb. 08, 2019	Jan. 23, 2019	Nov. 17, 2017	Oct. 31, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Percentage of net profits payments to third party from sale of product					50.00%
Litigation related product profit, percentage					62.50%
Credit agreement term					10 years
Payments for development								$ 14,104	$ 11,555	$ 5,627
Value of common stock shares issued								28,782
Tulex Pharmaceuticals [Member]
Payment of filing fee						$ 1,438
Diurnal Limited [Member]
Number of common stock shares issued							379,474
Value of common stock shares issued							$ 1,264
Payment for obtaining product orphan drug								2,500
Exclusive License and Supply Agreement [Member] | Diurnal Limited [Member]
Cash paid for licensing milestone fee	$ 3,500
Number of common stock shares issued	379,474
Value of common stock shares issued	$ 1,264
Shares issued price per share	$ 3.33
Aggregate value of licensing milestone amount included in research and development expense								$ 4,764
Exclusive License and Supply Agreement [Member] | Licensor [Member]
Percentage of net profits payments to third party from sale of product								35.00%
Credit agreement term								10 years
Percentage of right to recoup								60.00%
Payments for development								$ 350
Exclusive License and Supply Agreement [Member] | Licensor [Member] | Upon FDA Acceptance [Member]
Payments for development								1,500
Exclusive License and Supply Agreement [Member] | Licensor [Member] | Upon FDA Approval [Member]
Payments for development								1,000
Exclusive License and Supply Agreement [Member] | Licensor [Member] | Upon Issuance of Patent Covering [Member]
Payments for development								1,500
Exclusive License and Supply Agreement [Member] | Licensor [Member] | Product Sales [Member]
Payments for development								500
Exclusive License and Supply Agreement [Member] | Licensor [Member] | Calendar Year [Member]
Payments for development								$ 10,000
Exclusive License and Supply Agreement (ET-202 ) [Member]
Percentage for additional profit			50.00%
Payment of milestone fee			$ 600
Exclusive License and Supply Agreement (ET-202 ) [Member] | Sintetica [Member]
Payment of licensing			$ 2,000
Percentage of net sales as marketing fees			5.00%
Proceeds from licensing			$ 500
Percentage for additional profit			50.00%
Exclusive License and Supply Agreement (ET-202 ) [Member] | Upon FDA Approval [Member]
Payment of licensing			$ 750
Exclusive License and Supply Agreement (ET-203 ) [Member]
Percentage for additional profit			50.00%
Exclusive License and Supply Agreement (ET-203 ) [Member] | Sintetica [Member]
Payment of licensing			$ 1,000
Percentage of net sales as marketing fees			5.00%
Proceeds from licensing			$ 500
Percentage for additional profit			50.00%
Exclusive License and Supply Agreement (ET-203 ) [Member] | Upon FDA Approval [Member]
Payment of licensing			$ 750
Licensing and Supply Agreement [Member] | Licensor [Member]
Percentage of net profits payments to third party from sale of product				35.00%
Credit agreement term				10 years
Payments for development				$ 350
Licensing and Supply Agreement [Member] | Licensor [Member] | Upon FDA Acceptance [Member]
Payments for development				325
Licensing and Supply Agreement [Member] | Licensor [Member] | Upon FDA Approval [Member]
Payments for development				325
Licensing and Supply Agreement [Member] | Licensor [Member] | Upon Issuance of Patent Covering [Member]
Payments for development				650
Licensing and Supply Agreement [Member] | Licensor [Member] | Product Sales [Member]
Payments for development				500
Licensing and Supply Agreement [Member] | Licensor [Member] | Calendar Year [Member]
Payments for development				10,000
Licensing and Supply Agreement [Member] | Licensor [Member] | Upon Successful Bioequivalence Study [Member]
Payments for development				$ 350
Exclusive License and Supply Agreement (ET-105 ) [Member] | Aucta Pharmaceuticals, Inc [Member]
Payment of licensing		$ 2,000
Milestone payment description		$1,000 when net sales exceed $10 million in a calendar year, $2,000 when net sales exceed $20 million in a calendar year, $5,000 when net sales exceed $50 million in a calendar year, $10,000 when net sales exceed $100 million in a calendar year
Exclusive License and Supply Agreement (ET-105 ) [Member] | Aucta Pharmaceuticals, Inc [Member] | Maximum [Member]
Milestone payment amount		$ 18,000
Exclusive License and Supply Agreement (ET-105 ) [Member] | Upon FDA Approval [Member] | Aucta Pharmaceuticals, Inc [Member]
Payment of licensing		2,450
Exclusive License and Supply Agreement (ET-105 ) [Member] | Upon Issuance of Orange-book Listed Patent [Member] | Aucta Pharmaceuticals, Inc [Member]
Payment of licensing		1,000
Exclusive License and Supply Agreement (ET-105 ) [Member] | Upon FDA Acceptance of Product Filing [Member] | Aucta Pharmaceuticals, Inc [Member]
Payment of licensing		1,500
Exclusive License and Supply Agreement (ET-105 ) [Member] | UponFDA Approval and Commercial Sales [Member] | Aucta Pharmaceuticals, Inc [Member]
Payment of licensing		1,950
Exclusive License and Supply Agreement (ET-105 ) [Member] | Scenario One [Member] | Aucta Pharmaceuticals, Inc [Member]
Milestone payment amount		1,000
Exclusive License and Supply Agreement (ET-105 ) [Member] | Scenario One [Member] | Aucta Pharmaceuticals, Inc [Member] | Minimum [Member]
Net sales		10,000
Exclusive License and Supply Agreement (ET-105 ) [Member] | Scenario Two [Member] | Aucta Pharmaceuticals, Inc [Member]
Milestone payment amount		2,000
Exclusive License and Supply Agreement (ET-105 ) [Member] | Scenario Two [Member] | Aucta Pharmaceuticals, Inc [Member] | Minimum [Member]
Net sales		20,000
Exclusive License and Supply Agreement (ET-105 ) [Member] | Scenario Three [Member] | Aucta Pharmaceuticals, Inc [Member]
Milestone payment amount		5,000
Exclusive License and Supply Agreement (ET-105 ) [Member] | Scenario Three [Member] | Aucta Pharmaceuticals, Inc [Member] | Minimum [Member]
Net sales		50,000
Exclusive License and Supply Agreement (ET-105 ) [Member] | Scenario Four [Member] | Aucta Pharmaceuticals, Inc [Member]
Milestone payment amount		10,000
Exclusive License and Supply Agreement (ET-105 ) [Member] | Scenario Four [Member] | Aucta Pharmaceuticals, Inc [Member] | Minimum [Member]
Net sales		$ 100,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] $ in Thousands	1 Months Ended
	Feb. 28, 2021USD ($)
Azurity Pharmaceuticals [Member]
Milestone payment received at closing	$ 15,000
Portion of milestone payment received at closing	9,500
Payment received amount held in escrow	5,500
Milestone payment amount	550
Azurity Pharmaceuticals [Member] | Upon FDA Approval and Product Launch Milestones [Member]
Milestone payment received under product sales	15,000
Azurity Pharmaceuticals [Member] | Upon Commercial Sales Milestones [Member]
Milestone payment received under product sales	15,000
Azurity Pharmaceuticals [Member] | Maximum [Member]
Milestone payment received under product sales	45,000
Tulex Pharmaceuticals [Member]
Milestone payment amount	$ 200

Schedule II Valuation and Qua_2

Schedule II Valuation and Qualifying Accounts - Schedule of Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Accounts receivable allowances, Balance at Beginning of period	$ 116	[1]
Accounts receivable allowances, additions	90	[1]	116
Accounts receivable allowances, deductions	(135)	[1]
Accounts receivable allowances, Balance at end of period	71	[1]	116	[1]
Inventories reserve, Balance at Beginning of period
Inventories reserve, additions	623
Inventories reserve, deductions
Inventories reserve, Balance at end of period	$ 623
[1]	Allowances are for chargebacks, prompt payment discounts, distribution fees, and returns & allowances related to Biorphen and Alkindi Sprinkle product sales. The inventories reserve is for Biorphen that is at risk of expiry before it can be sold.