Krystal Biotech (KRYS) 10-Q 7 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	KRYS
Entity Registrant Name	Krystal Biotech, Inc.
Entity Central Index Key	1,711,279
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		10,309,615

Condensed Balance Sheets

Condensed Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 47,228	$ 49,591
Prepaid and other current assets	441	323
Total current assets	47,669	49,914
Property and equipment, net	182	200
Total assets	47,851	50,114
Current liabilities
Accounts payable	89	193
Accrued expenses and other current liabilities	363	447
Total current liabilities	452	640
Total liabilities	452	640
Commitments and contingencies (Note 5)
Preferred stock
Preferred stock	0	0
Stockholders' equity
Common stock; $0.00001 par value; 80,000,000 shares authorized at March 31, 2018 (unaudited) and December 31, 2017; 10,309,615 and 10,307,247 shares issued and outstanding at March 31, 2018 (unaudited) and December 31, 2017, respectively	0	0
Additional paid-in capital	58,619	58,544
Accumulated deficit	(11,220)	(9,070)
Total stockholders' equity	47,399	49,474
Total liabilities, preferred stock and stockholders' equity	$ 47,851	$ 50,114

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Convertible preferred stock, par value	$ 0.00001	$ 0.00001
Convertible preferred stock, shares authorized	20,000,000	20,000,000
Convertible preferred stock, shares issued	2,061,773	2,061,773
Convertible preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	80,000,000	80,000,000
Common stock, shares issued	10,309,615	10,307,247
Common stock, shares outstanding	10,309,615	10,307,247

Condensed Statements of Operati

Condensed Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Expenses
Research and development	$ 1,520	$ 319
General and administrative	757	146
Total operating expenses	2,277	465
Loss from operations	(2,277)	(465)
Other Expense
Interest and other income (expense), net	127	(29)
Total interest and other income (expense), net	127	(29)
Net loss	(2,150)	(494)
Net loss applicable to stockholders and members	$ (2,150)	$ (494)
Net loss attributable to common stockholders and members per share: Basic and diluted	$ (0.21)	$ (0.14)
Weighted-average common shares and common units outstanding: Basic and diluted	10,307,379	3,490,884

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating Activities
Net loss	$ (2,150)	$ (494)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	18	1
Stock-based compensation expense	65	91
Non-cash interest expense		30
(Increase) decrease in
Prepaids and other assets	(118)	73
Accounts payable	(104)	16
Accrued expenses and other current liabilities	(80)	26
Net cash used in operating activities	(2,369)	(257)
Investing Activities
Purchases of property and equipment		(7)
Net cash used in investing activities		(7)
Financing Activities
Proceeds from the issuance of convertible promissory notes		300
Issuance of common stock and common units, net	6
Net cash provided by financing activities	6	300
Net (decrease) increase in cash	(2,363)	36
Cash and cash equivalents at beginning of period	49,591	1,923
Cash and cash equivalents at end of period	47,228	1,959
Supplemental Disclosures of Non-Cash Investing and Financing Activities
Conversion of preferred units to preferred stock		$ 1,306
Unpaid deferred offering costs	$ 1

Organization

Organization	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Organization	1. Krystal Biotech, Inc. (the “ ” “ ” “ ” Liquidity and Risks As of March 31, 2018, the Company had an accumulated deficit since inception of $11.2 million. With the net proceeds raised upon the close of its initial public offering (“IPO”), the Company believes that its cash and cash equivalents of approximately $47.2 million as of March 31, 2018 will be sufficient to allow the Company to fund its operations for at least 12 months from the filing date of this Form 10-Q. As the Company continues to incur losses, a transition to profitability is dependent upon the successful development, approval and commercialization of its product candidates and the achievement of a level of revenues adequate to support the Company ’ The Company is subject to risks common to companies in the biotechnology industry, including, but not limited to, development of technological innovations by its competitors, risks of failure of clinical studies, dependence on key personnel, protection of proprietary technology, compliance with government regulations, and ability to transition from preclinical manufacturing to commercial production of products.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Basis of Presentation The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as found in the Accounting Standards Codification (“ASC”), the Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”) and the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). Unaudited Condensed Financial Information The accompanying condensed balance sheet as of March 31, 2018, the condensed statements of operations for the three months ended March 31, 2018 and 2017, and condensed statements of cash flows for the three months ended March 31, 2018 and 2017, and the related information contained within the notes to the condensed financial statements are unaudited. As permitted under GAAP for interim financial information under instructions to Form 10-Q and Article 10 of Regulation S-X, certain footnotes or other financial information can be condensed or omitted. These financial statements and related disclosures have been prepared with the assumption that users of the interim financial information have read or have access to the audited financial statements for the preceding fiscal year. Accordingly, these statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2017. The condensed financial statements have been prepared on the same basis as the annual audited financial statements and, in the opinion of management, reflect all adjustments, consisting of normal and recurring adjustments, necessary for the fair presentation of the Company ’ Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements. Estimates are used in the following areas, among others: stock-based compensation expense, accrued research and development expenses, the fair value of financial instruments, and the valuation allowance included in the deferred income taxes calculations. Segment and Geographical Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company and the Company’s chief operating decision maker view the Company’s operations and manage its business in one operating segment, which is the business of developing and commercializing pharmaceuticals. Concentrations of Credit Risk and Off-Balance Sheet Risk Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents. The Company’s policy is to invest its cash and cash equivalents in money market funds and various bank deposit accounts. The counterparties to the agreements relating to the Company’s investments consist of financial institutions of high credit standing. The Company is exposed to credit risk in the event of default by the financial institutions to the extent of amounts recorded on the balance sheets which may be in excess of insured limits. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company has no financial instruments with off-balance sheet risk of loss. Cash and Cash Equivalents Cash and cash equivalents consists of money market funds and bank deposits. Fair Value of Financial Instruments The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. FASB ASC Topic 820, Fair Value Measurement and Disclosures • Level 1 • Level 2 • Level 3 To the extent that a valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized within Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. There have been no changes to the valuation methods utilized by the Company during the periods presented. The Company evaluates transfers between levels at the end of each reporting period. There were no transfers of financial instruments between levels during the periods presented. The carrying amounts of financial instruments consisting of cash and cash equivalents, prepaid expenses and other current assets, accounts payable, accrued expenses and other current liabilities included in the Company’s financial statements, are reasonable estimates of fair value due to their short maturities. Property and Equipment, net Property and equipment, net, is stated at cost, less accumulated depreciation. Maintenance and repairs that do not improve or extend the lives of the respective assets are expensed to operations as incurred, while costs of major additions and betterments are capitalized. Upon disposal, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in the results of operations. Depreciation is recorded using the straight-line method over the estimated useful lives of the respective assets, which are as follows: Computer equipment and software 3 years Lab equipment 3 years Impairment of Long-Lived Assets The Company evaluates long-lived assets for potential impairment when events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Recoverability is measured by comparing the book values of the assets to the expected future net undiscounted cash flows that the assets are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the book value of the assets exceed their fair value. The Company has not recognized any impairment losses through March 31, 2018. Preferred Stock In accordance with the guidance in FASB ASC Topic 480, Distinguishing Liabilities from Equity Research and Development Expenses Research and development costs are charged to expense as incurred in performing research and development activities. The costs include employee compensation costs, facilities and overhead, preclinical activities and related clinical manufacturing costs, regulatory and other related costs. The Company estimates contract research and clinical trials materials manufacturing expenses based on the services performed pursuant to contracts with research and manufacturing organizations that manufacture materials used in the Company’s ongoing preclinical studies. Nonrefundable advanced payments for goods or services to be received in the future for use in research and development activities are deferred and capitalized. The capitalized amounts are expensed as the related goods are delivered or the services are performed. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. These estimates are based on communications with the third party service providers and the Company’s estimates of accrued expenses using information available at each balance sheet date. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly. Stock-Based Compensation Expense The Company accounts for its stock-based compensation awards to employees and directors in accordance with FASB ASC Topic 718, Compensation-Stock Compensation Equity, Comprehensive Loss Comprehensive loss is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive loss in the financial statements in the period in which they are recognized. Net loss and other comprehensive loss are reported, net of their related tax effect, to arrive at a comprehensive loss. For the three months ended March 31, 2018 and 2017, comprehensive loss was equal to the net loss. Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02 Leases (Topic 842

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders and Members	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders and Members	3. Net Loss Per Share Attributable to Common Stockholders and Members On March 31, 2017, the Company converted from an LLC to a C-corporation. Upon the conversion, each outstanding common unit and preferred unit was converted into one share of common stock and preferred stock, respectively. Common units had similar rights and characteristics of common stock issued upon the conversion. In calculating net loss per share, the Company retrospectively applied the effects of the conversion to the number of common units outstanding prior to the conversion. Basic net loss per share attributable to common stockholders is calculated by dividing net loss attributable to common stockholders by the weighted average shares outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share attributable to common stockholders is computed by dividing the net loss by the weighted-average number of shares of common stock and common share equivalents outstanding for the period. Preferred stock and stock options are common share equivalents. There were 233,464 (In thousands, except shares, units, per share and per unit data) Three Months Ended March 31, 2018 2017 (Unaudited) Numerator: Net loss applicable to common stockholders and members $ (2,150 ) $ (494 ) Denominator: Weighted-average basic and diluted common shares and common units 10,307,379 3,490,884 Basic and diluted net loss per common share and common unit $ (0.21 ) $ (0.14 )

Balance Sheet Components

Balance Sheet Components	3 Months Ended
	Mar. 31, 2018
Balance Sheet Components [Abstract]
Balance Sheet Components	4. Property and Equipment, Net Property and equipment, net consist of the following (in thousands): March 31, 2018 December 31, 2017 (Unaudited) Computer equipment and software $ 11 $ 11 Laboratory equipment 214 214 Total property and equipment 225 225 Accumulated depreciation and amortization (43 ) (25 ) Property and equipment, net $ 182 $ 200 Depreciation expense was $18 thousand and $1 thousand for the three months ended March 31, 2018, and 2017 respectively. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): March 31, 2018 December 31, 2017 (Unaudited) Accrued pre-clinical expenses $ 100 $ 257 Accrued professional fees 129 77 Accrued payroll and benefits 84 10 Accrued taxes 50 103 Total $ 363 $ 447

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	5 . Significant Contracts and Agreements Lease Agreement In May 2016, the Company signed an operating lease for laboratory and office space that commenced in June 2016 and expired on October 31, 2017 (the “ ” As of March 31, 2018, future minimum operating lease payments were as follows (in thousands): Operating Leases 2018 (remaining nine months) $ 63 2019 — 2020 — 2021 — 2022 — Thereafter — Future minimum operating lease payments 63 The Company recorded $31 thousand and $19 thousand in rent expense for the three months ended March 31, 2018 and 2017, respectively.

Capitalization

Capitalization	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Capitalization	6. Conversion to C-Corporation On March 31, 2017, the Company converted from an LLC to a C-Corporation. Upon the conversion, all outstanding preferred units and common units were converted on a 1-to-1 basis into shares of preferred stock and common stock, respectively. Stock Split and Increase in Authorized Shares On September 5, 2017, in connection with our IPO, the Company ’ “ ” Initial Public Offering On September 22, 2017, the Company completed its initial public offering of 4,554,000 shares of its common stock at a price to the public of $10.00 per share, which includes the sale of 594,000 shares of the Company ’ ’ ’ Sale of Common Stock On August 25, 2017, following the completion of the Sun Pharma Offering, Daniel S. Janney, a member of our board of directors, purchased 130,590 shares of our common stock at the same price per share paid by Sun Pharma, $7.66 per share, through an investment entity owned and controlled by a board member for a total consideration of approximately $1.0 million. On November 1, 2017, the Company entered into a stock purchase agreement (the “Agreement”) with the Epidermolysis Bullosa Medical Research Foundation, a California not-for-profit corporation (“EBMRF”), and EB Research Partnership, Inc., a New York not-for-profit corporation (“EBRP” and together with EBMRF, the “Purchasers”), pursuant to which the Company has agreed to issue and sell, and the Purchasers have agreed to purchase, an aggregate of 70,000 shares of the Company’s common stock, par value $0.00001 per share, for a purchase price of $11.00 per share, resulting in aggregate gross proceeds to the Company of $770,000 (the “Transaction”). T he Company intends to commence work here is a redemption feature whereby repurchase all or a portion of the shares at a purchase price of $11.00 per share or the closing trading price of the common stock on the redemption request date, whichever is higher, should the . As the redemption feature is within the control of the Company, the common stock issued pursuant to this Agreement is classified as permanent equity. Shares Outstanding There were 10,309,615 and 10,307,247 shares of common stock outstanding at March 31, 2018 and December 31, 2017, respectively. No shares of preferred stock were outstanding at March 31, 2018 or December 31, 2017. Issuance of Preferred Stock and Conversion of Convertible Promissory Notes and Related Party Convertible Promissory Notes On August 8, 2017, the Company issued 914,107 shares of Series A Preferred Stock to a single investor (“Sun Pharma”) at a purchase price of $7.66 per share for aggregate proceeds of approximately $7.0 million (the “Sun Pharma Offering”). Concurrently with the issuance of the Series A Preferred Stock, and as further described in our Annual Report on Form 10-K for the year ended December 31, 2017, previously issued convertible promissory notes plus accrued interest were automatically converted into shares of preferred stock. As the conversion price per share of preferred stock was lower than the market price of each share of preferred stock on the date of conversion, an interest expense of $3.2 million was recorded upon conversion representing a beneficial conversion feature. The following table outlines the conversion on August 8, 2017 of the convertible promissory notes into shares of preferred stock (in thousands except share and per share amounts): Conversion Fair Value Fair Fair Loss on Extinguishment of Convertible Accrued Price Per Shares of Shares of Date of Value Value Promissory Principal Interest Total Share (1) Series A-1 Series A-2 Conversion Series A-1 Series A-2 Notes Convertible promissory notes $ 2,444 $ 72 $ 2,516 $ 4.14 (1) 607,743 — $ 7.66 $ 4,654 $ — $ (2,138 ) Related party convertible promissory notes 948 32 980 $ 4.14 (1) 236,619 — $ 7.66 1,812 — (832 ) Related party convertible promissory notes—June notes 750 8 758 $ 6.13 (2) — 123,691 $ 7.66 — 947 (189 ) Total related party promissory notes 1,698 40 1,738 236,619 123,691 1,812 947 (1,021 ) Total $ 4,142 $ 112 $ 4,254 844,362 123,691 $ 6,466 $ 947 $ (3,159 ) (1) The conversion price was determined by dividing the target valuation of $16 million by the outstanding shares of 3,863,547 immediately prior to the issuance of the Series A on August 8, 2017. (2) The conversion price was determined to be 80% of the $7.66 sales price per share of the Series A shares issued on August 8, 2017. Common Stock The voting, dividend and liquidation rights of the holders of the common stock are subject to and qualified by the rights, powers and privileges of the holders of the preferred stock and are as follows: Voting Rights. The holders of shares of common stock are entitled to one vote for each share of common stock held at all meetings of stockholders and written actions in lieu of meetings. The Board shall be elected by vote of the Common Stock and the Preferred stock voting together as a single class on an as-converted basis. Dividends. The holders of the common stock are entitled to receive dividends, if and when declared by the Board, and all dividends shall be paid pro rata on the common stock and the preferred stock, without preference, based on the number of shares of the common stock of the holders. From inception through March 31, 2018, no dividends have been declared or paid by the Company. Liquidation Preference. After payment to the holders of shares of preferred stock of their liquidation preferences, the holders of the common stock are entitled to share ratably in the Company’s assets available for distribution to stockholders, in the event of any voluntary or involuntary liquidation, dissolution, winding up, consolidation or merger of the Company or upon the occurrence of a deemed liquidation event.

Significant Agreements

Significant Agreements	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Significant Agreements	7. Clinical Supply Agreement The Company has entered into various product manufacturing and clinical supply agreements with Contract Manufacturing Organizations (“CMOs”). The product manufacturing and clinical supply agreements provide the terms and conditions under which the CMOs will formulate, fill, inspect, package, label and test our products, KB103 and KB105 for clinical supply. The Company is obligated to make milestone payments. Additionally, certain raw materials, supplies, outsourced testing and other services for the purposes of batch production will be invoiced separately by the CMOs. The estimated remaining commitment as of March 31, 2018 under these agreements for the manufacturing of our drug product is approximately $162 thousand. The Company is also responsible for the payment of a monthly service fee for project management services for the duration of the arrangement. The Company has incurred expenses under these agreements of $801 thousand and $ 31

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	8. On September 5, 2017, the Board approved the establishment of the Krystal Biotech, Inc. 2017 IPO Plan (the “ ” ’ The Company granted 55,000 stock options during the three months ended March 31, 2018 to employees. There were no stock options granted during the three months ended March 31, 2017. The options vest ratably over a four-year period and have a life of ten years. Stock options issued to non-employees are accounted for using the fair value method of accounting, and are periodically revalued as the options vest, and are recognized as expense over the related service period. The following table summarizes the Company ’ Weighted- Weighted- average Aggregate Stock average Remaining Intrinsic Available for Options Exercise Contractual Value Grant Outstanding Price Life (Years) (In thousands) Balance at December 31, 2017 900,000 185,332 $ 3.91 9.0 $ 1,224 Granted (55,000 ) 55,000 $ 9.85 Exercised — (2,368 ) $ 2.46 Cancelled or forfeited 4,500 (4,500 ) $ 10.00 Balance at March 31, 2018 849,500 233,464 $ 5.21 9.10 $ 1,157 Exercisable at March 31, 2018 35,523 $ 2.46 8.63 $ 271 Vested at March 31, 2018 35,523 $ 2.46 8.63 $ 271 Aggregate intrinsic value represents the difference between the closing stock price of our common stock on March 29, 2018 and the exercise price of outstanding in-the-money options. Options for 2,368 shares of our common stock with an intrinsic value of $18 thousand were exercised during the three months ended March 31, 2018. The Company has recorded aggregate stock-based compensation expense related to the issuance of stock option awards to employees and non-employees in the condensed statements of operations for the three months ended March 31, 2018 and 2017 as follows (in thousands): Three Months Ended March 31, 2017 2016 Research and development $ 46 $ 32 General and administrative 19 59 Total stock-based compensation $ 65 $ 91 Stock Options Granted to Employees. For the three months ended March 31, 2018 and 2017, the Company recorded $61 thousand and $6 thousand, respectively, of stock-based compensation expense related to employee’s and board member’s stock options. The fair value of options granted to employees was estimated at the date of grant using the Black-Scholes valuation model with the following weighted-average assumptions for the three months ended March 31, 2018: Three months Ended March 31, 2018 2017 Expected stock price volatility 80 % — Expected term of the award (years) 6.25 — Risk-free interest rate 2.71 % — Exercise price $ 9.85 — The weighted-average grant-date fair value of options granted to employees during the three months ended March 31, 2018 was $6.98 per share. No options were granted to employees in the three months ended March 31, 2017. There was $850 thousand of unrecognized stock-based compensation expense related to employees ’ Stock Options Granted to Non-Employees. Stock-based compensation expense related to stock options granted to non-employees is recognized as the stock options are earned. The Company believes that the estimated fair value of the stock options is more readily measurable than the fair value of the services rendered. For the three months ended March 31, 2018 and 2017, the Company recorded $4 thousand and $85 thousand, respectively, of stock-based compensation expense related to non-employees ’ stock options. No options were granted to non-employees in the three months ended March 31, 2018 and 2017.

Related Party Disclosures

Related Party Disclosures	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	9. Sale of Common Stock On March 19, 2018, our Chief Executive Officer purchased 50,000 shares of common stock at $11 per share.

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) as found in the Accounting Standards Codification (“ASC”), the Accounting Standards Update (“ASU”) of the Financial Accounting Standards Board (“FASB”) and the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”).
Unaudited Condensed Financial Information	Unaudited Condensed Financial Information The accompanying condensed balance sheet as of March 31, 2018, the condensed statements of operations for the three months ended March 31, 2018 and 2017, and condensed statements of cash flows for the three months ended March 31, 2018 and 2017, and the related information contained within the notes to the condensed financial statements are unaudited. As permitted under GAAP for interim financial information under instructions to Form 10-Q and Article 10 of Regulation S-X, certain footnotes or other financial information can be condensed or omitted. These financial statements and related disclosures have been prepared with the assumption that users of the interim financial information have read or have access to the audited financial statements for the preceding fiscal year. Accordingly, these statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2017. The condensed financial statements have been prepared on the same basis as the annual audited financial statements and, in the opinion of management, reflect all adjustments, consisting of normal and recurring adjustments, necessary for the fair presentation of the Company ’
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 in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements. Estimates are used in the following areas, among others: stock-based compensation expense, accrued research and development expenses, the fair value of financial instruments, and the valuation allowance included in the deferred income taxes calculations.
Segment and Geographical Information	Segment and Geographical Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company and the Company’s chief operating decision maker view the Company’s operations and manage its business in one operating segment, which is the business of developing and commercializing pharmaceuticals.
Concentrations of Credit Risk and Off-Balance Sheet Risk	Concentrations of Credit Risk and Off-Balance Sheet Risk Financial instruments that potentially subject the Company to credit risk consist of cash and cash equivalents. The Company’s policy is to invest its cash and cash equivalents in money market funds and various bank deposit accounts. The counterparties to the agreements relating to the Company’s investments consist of financial institutions of high credit standing. The Company is exposed to credit risk in the event of default by the financial institutions to the extent of amounts recorded on the balance sheets which may be in excess of insured limits. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. The Company has no financial instruments with off-balance sheet risk of loss.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consists of money market funds and bank deposits.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. FASB ASC Topic 820, Fair Value Measurement and Disclosures • Level 1 • Level 2 • Level 3 To the extent that a valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized within Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. There have been no changes to the valuation methods utilized by the Company during the periods presented. The Company evaluates transfers between levels at the end of each reporting period. There were no transfers of financial instruments between levels during the periods presented. The carrying amounts of financial instruments consisting of cash and cash equivalents, prepaid expenses and other current assets, accounts payable, accrued expenses and other current liabilities included in the Company’s financial statements, are reasonable estimates of fair value due to their short maturities.
Property and Equipment, net	Property and Equipment, net Property and equipment, net, is stated at cost, less accumulated depreciation. Maintenance and repairs that do not improve or extend the lives of the respective assets are expensed to operations as incurred, while costs of major additions and betterments are capitalized. Upon disposal, the related cost and accumulated depreciation is removed from the accounts and any resulting gain or loss is included in the results of operations. Depreciation is recorded using the straight-line method over the estimated useful lives of the respective assets, which are as follows: Computer equipment and software 3 years Lab equipment 3 years
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates long-lived assets for potential impairment when events or changes in circumstances indicate the carrying value of the assets may not be recoverable. Recoverability is measured by comparing the book values of the assets to the expected future net undiscounted cash flows that the assets are expected to generate. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the book value of the assets exceed their fair value. The Company has not recognized any impairment losses through March 31, 2018.
Preferred Stock	Preferred Stock In accordance with the guidance in FASB ASC Topic 480, Distinguishing Liabilities from Equity
Research and Development Expenses	Research and Development Expenses Research and development costs are charged to expense as incurred in performing research and development activities. The costs include employee compensation costs, facilities and overhead, preclinical activities and related clinical manufacturing costs, regulatory and other related costs. The Company estimates contract research and clinical trials materials manufacturing expenses based on the services performed pursuant to contracts with research and manufacturing organizations that manufacture materials used in the Company’s ongoing preclinical studies. Nonrefundable advanced payments for goods or services to be received in the future for use in research and development activities are deferred and capitalized. The capitalized amounts are expensed as the related goods are delivered or the services are performed. In accruing service fees, the Company estimates the time period over which services will be performed and the level of effort to be expended in each period. These estimates are based on communications with the third party service providers and the Company’s estimates of accrued expenses using information available at each balance sheet date. If the actual timing of the performance of services or the level of effort varies from the estimate, the Company will adjust the accrual accordingly.
Stock-Based Compensation Expense	Stock-Based Compensation Expense The Company accounts for its stock-based compensation awards to employees and directors in accordance with FASB ASC Topic 718, Compensation-Stock Compensation Equity,
Comprehensive Loss	Comprehensive Loss Comprehensive loss is defined as the change in equity during a period from transactions and other events and circumstances from non-owner sources. The Company is required to record all components of comprehensive loss in the financial statements in the period in which they are recognized. Net loss and other comprehensive loss are reported, net of their related tax effect, to arrive at a comprehensive loss. For the three months ended March 31, 2018 and 2017, comprehensive loss was equal to the net loss.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02 Leases (Topic 842

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary of Estimated Useful Lives of Assets	Depreciation is recorded using the straight-line method over the estimated useful lives of the respective assets, which are as follows: Computer equipment and software 3 years Lab equipment 3 years

Net Loss Per Share Attributab17

Net Loss Per Share Attributable to Common Stockholders and Members (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of Net Loss Per Share Attributable to Common Stockholders and Members	Therefore, basic and diluted net loss per share and per unit were the same for all periods presented. (In thousands, except shares, units, per share and per unit data) Three Months Ended March 31, 2018 2017 (Unaudited) Numerator: Net loss applicable to common stockholders and members $ (2,150 ) $ (494 ) Denominator: Weighted-average basic and diluted common shares and common units 10,307,379 3,490,884 Basic and diluted net loss per common share and common unit $ (0.21 ) $ (0.14 )

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
	Mar. 31, 2018
Balance Sheet Components [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consist of the following (in thousands): March 31, 2018 December 31, 2017 (Unaudited) Computer equipment and software $ 11 $ 11 Laboratory equipment 214 214 Total property and equipment 225 225 Accumulated depreciation and amortization (43 ) (25 ) Property and equipment, net $ 182 $ 200
Schedule of Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): March 31, 2018 December 31, 2017 (Unaudited) Accrued pre-clinical expenses $ 100 $ 257 Accrued professional fees 129 77 Accrued payroll and benefits 84 10 Accrued taxes 50 103 Total $ 363 $ 447

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Operating Lease Payments	As of March 31, 2018, future minimum operating lease payments were as follows (in thousands): Operating Leases 2018 (remaining nine months) $ 63 2019 — 2020 — 2021 — 2022 — Thereafter — Future minimum operating lease payments 63

Capitalization (Tables)

Capitalization (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Conversion of Convertible Promissory Notes into Preferred Stock	The following table outlines the conversion on August 8, 2017 of the convertible promissory notes into shares of preferred stock (in thousands except share and per share amounts): Conversion Fair Value Fair Fair Loss on Extinguishment of Convertible Accrued Price Per Shares of Shares of Date of Value Value Promissory Principal Interest Total Share (1) Series A-1 Series A-2 Conversion Series A-1 Series A-2 Notes Convertible promissory notes $ 2,444 $ 72 $ 2,516 $ 4.14 (1) 607,743 — $ 7.66 $ 4,654 $ — $ (2,138 ) Related party convertible promissory notes 948 32 980 $ 4.14 (1) 236,619 — $ 7.66 1,812 — (832 ) Related party convertible promissory notes—June notes 750 8 758 $ 6.13 (2) — 123,691 $ 7.66 — 947 (189 ) Total related party promissory notes 1,698 40 1,738 236,619 123,691 1,812 947 (1,021 ) Total $ 4,142 $ 112 $ 4,254 844,362 123,691 $ 6,466 $ 947 $ (3,159 ) (1) The conversion price was determined by dividing the target valuation of $16 million by the outstanding shares of 3,863,547 immediately prior to the issuance of the Series A on August 8, 2017. (2) The conversion price was determined to be 80% of the $7.66 sales price per share of the Series A shares issued on August 8, 2017.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Schedule of Company's Stock Option Activity	The following table summarizes the Company ’ Weighted- Weighted- average Aggregate Stock average Remaining Intrinsic Available for Options Exercise Contractual Value Grant Outstanding Price Life (Years) (In thousands) Balance at December 31, 2017 900,000 185,332 $ 3.91 9.0 $ 1,224 Granted (55,000 ) 55,000 $ 9.85 Exercised — (2,368 ) $ 2.46 Cancelled or forfeited 4,500 (4,500 ) $ 10.00 Balance at March 31, 2018 849,500 233,464 $ 5.21 9.10 $ 1,157 Exercisable at March 31, 2018 35,523 $ 2.46 8.63 $ 271 Vested at March 31, 2018 35,523 $ 2.46 8.63 $ 271
Summary of Stock Based Compensation Expense Related to Issuance of Stock Option Awards	The Company has recorded aggregate stock-based compensation expense related to the issuance of stock option awards to employees and non-employees in the condensed statements of operations for the three months ended March 31, 2018 and 2017 as follows (in thousands): Three Months Ended March 31, 2017 2016 Research and development $ 46 $ 32 General and administrative 19 59 Total stock-based compensation $ 65 $ 91
Employee Stock Option [Member]
Fair Value of Stock Options, Valuation Assumptions	The fair value of options granted to employees was estimated at the date of grant using the Black-Scholes valuation model with the following weighted-average assumptions for the three months ended March 31, 2018: Three months Ended March 31, 2018 2017 Expected stock price volatility 80 % — Expected term of the award (years) 6.25 — Risk-free interest rate 2.71 % — Exercise price $ 9.85 —

Organization - Additional Infor

Organization - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accumulated deficit	$ (11,220)	$ (9,070)
Cash and cash equivalents	$ 47,228	$ 49,591	$ 1,959	$ 1,923

Summary of Significant Accoun23

Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018USD ($)Segmentshares	Dec. 31, 2017shares
Accounting Policies [Abstract]
Number of operating segment | Segment	1
Recognized impairment losses for long lived assets | $	$ 0
Preferred stock, shares outstanding | shares	0	0

Summary of Significant Accoun24

Summary of Significant Accounting Policies - Summary of Estimated Useful Lives of Assets (Detail)	3 Months Ended
	Mar. 31, 2018
Computer Equipment and Software [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	3 years
Laboratory Equipment [Member]
Property Plant And Equipment [Line Items]
Estimated useful lives of assets	3 years

Net Loss Per Share Attributab25

Net Loss Per Share Attributable to Common Stockholders and Members - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Stock conversion rate		100.00%
Common share equivalents outstanding, excluded from the calculation of diluted net loss per share attributable to common stock holders	233,464	161,055

Net Loss Per Share Attributab26

Net Loss Per Share Attributable to Common Stockholders and Members - Schedule of Basic and Diluted Net Loss Per Share and Per Unit (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net loss applicable to common stockholders and members	$ (2,150)	$ (494)
Denominator:
Weighted-average basic and diluted common shares and common units	10,307,379	3,490,884
Basic and diluted net loss per common share and common unit	$ (0.21)	$ (0.14)

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property Plant And Equipment [Line Items]
Total property and equipment	$ 225	$ 225
Accumulated depreciation and amortization	(43)	(25)
Property and equipment, net	182	200
Computer Equipment and Software [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	11	11
Laboratory Equipment [Member]
Property Plant And Equipment [Line Items]
Total property and equipment	$ 214	$ 214

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Balance Sheet Components [Abstract]
Depreciation expense	$ 18	$ 1

Balance Sheet Components - Sc29

Balance Sheet Components - Schedule of Accrued Expenses And Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Balance Sheet Components [Abstract]
Accrued pre-clinical expenses	$ 100	$ 257
Accrued professional fees	129	77
Accrued payroll and benefits	84	10
Accrued taxes	50	103
Total	$ 363	$ 447

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)Installment	Mar. 31, 2017USD ($)
Operating Leased Assets [Line Items]
Rent expense | $	$ 31	$ 19
2016 Lease Agreement [Member]
Operating Leased Assets [Line Items]
Lease expiration date	Oct. 31, 2017
Amendment to 2016 Lease Agreements [Member]
Operating Leased Assets [Line Items]
Number of installments | Installment	17
Second Amendment to 2016 Lease Agreement [Member]
Operating Leased Assets [Line Items]
Lease expiration date	Oct. 31, 2018

Commitments and Contingencies31

Commitments and Contingencies - Schedule of Future Minimum Operating Lease Payments (Detail) $ in Thousands	Mar. 31, 2018USD ($)
Leases Operating [Abstract]
2018 (remaining nine months)	$ 63
Future minimum operating lease payments	$ 63

Capitalization - Additional Inf

Capitalization - Additional Information (Detail)	Nov. 01, 2017USD ($)$ / sharesshares	Sep. 22, 2017USD ($)$ / sharesshares	Sep. 05, 2017	Aug. 25, 2017USD ($)$ / sharesshares	Aug. 08, 2017USD ($)$ / sharesshares	Mar. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017$ / sharesshares	Sep. 19, 2017$ / sharesshares	Mar. 31, 2017
Schedule of Capitalization, Equity [Line Items]
Stock conversion rate									100.00%
Stock split, conversion ratio			0.22222222
Forward stock split						1-to-4.5
Common stock, par value | $ / shares						$ 0.00001	$ 0.00001	$ 0.00001
Convertible preferred stock, par value | $ / shares						$ 0.00001	$ 0.00001	$ 0.00001
Common stock, shares authorized | shares						80,000,000	80,000,000	80,000,000
Convertible preferred stock, shares authorized | shares						20,000,000	20,000,000	20,000,000
Proceeds from issue of common stock | $						$ 6,000
Common stock, shares outstanding | shares						10,309,615	10,307,247
Preferred stock, shares outstanding | shares						0	0
Common stock, voting rights						The holders of shares of common stock are entitled to one vote for each share of common stock held
Common stock dividend, declared or paid | $						$ 0
Series A Preferred Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Shares issued, price per share | $ / shares					$ 7.66
Stock Purchase Agreement [Member]
Schedule of Capitalization, Equity [Line Items]
Common stock, par value | $ / shares	$ 0.00001
Number of additional shares issued and sold | shares	70,000
Shares issued, price per share | $ / shares	$ 11
Proceeds from issue of common stock | $	$ 770,000,000
Lock-up period of shares	6 months
Transaction closing date	Nov. 2, 2017
Director [Member]
Schedule of Capitalization, Equity [Line Items]
Number of additional shares issued and sold | shares				130,590
Shares issued, price per share | $ / shares				$ 7.66
Proceeds from issue of common stock | $				$ 1,000,000
IPO [Member]
Schedule of Capitalization, Equity [Line Items]
Number of additional shares issued and sold | shares		4,554,000
Shares issued, price per share | $ / shares		$ 10
Underwriting discounts and commissions | $		$ 3,200,000
Proceeds from initial offering of shares | $		42,300,000
Offering expenses | $		1,600,000
Net proceeds from issuance of common stock, after deducting offering expenses | $		$ 40,700,000
Conversion of preferred stock to common stock, shares | shares		2,061,773
Preferred stock conversion basis						1-to-1
Over-Allotment Option [Member]
Schedule of Capitalization, Equity [Line Items]
Number of additional shares issued and sold | shares		594,000
Sun Pharma Offering [Member] | Series A Preferred Stock [Member]
Schedule of Capitalization, Equity [Line Items]
Shares issued, price per share | $ / shares					$ 7.66
Preferred stock, shares issued | shares					914,107
Aggregate proceeds from issuance of preferred stock | $					$ 7,000,000
Preferred stock, convertible beneficial conversion feature | $					$ 3,200,000

Capitalization - Schedule of Ma

Capitalization - Schedule of Mandatory Conversion of Convertible Promissory Notes into Preferred Stock (Detail) $ / shares in Units, $ in Thousands	Aug. 08, 2017USD ($)$ / sharesshares
Debt Conversion [Line Items]
Principal	$ 4,142
Accrued Interest	112
Total	4,254
Loss on Extinguishment of Convertible Promissory Notes	(3,159)
Convertible Promissory Notes [Member] | Note Purchase Agreement [Member]
Debt Conversion [Line Items]
Principal	2,444
Accrued Interest	72
Total	$ 2,516
Conversion Price Per Share | $ / shares	$ 4.14
Fair Value Date of Conversion | $ / shares	$ 7.66
Loss on Extinguishment of Convertible Promissory Notes	$ (2,138)
Convertible Promissory Notes [Member] | Note Purchase Agreement - Related Parties [Member]
Debt Conversion [Line Items]
Principal	948
Accrued Interest	32
Total	$ 980
Conversion Price Per Share | $ / shares	$ 4.14
Fair Value Date of Conversion | $ / shares	$ 7.66
Loss on Extinguishment of Convertible Promissory Notes	$ (832)
Convertible Promissory Notes [Member] | Second Note Purchase Agreement - Related Parties [Member]
Debt Conversion [Line Items]
Principal	750
Accrued Interest	8
Total	$ 758
Conversion Price Per Share | $ / shares	$ 6.13
Fair Value Date of Conversion | $ / shares	$ 7.66
Loss on Extinguishment of Convertible Promissory Notes	$ (189)
Convertible Promissory Notes [Member] | Agreements - Related Parties [Member]
Debt Conversion [Line Items]
Principal	1,698
Accrued Interest	40
Total	1,738
Loss on Extinguishment of Convertible Promissory Notes	$ (1,021)
Series A 1 Preferred Stock [Member]
Debt Conversion [Line Items]
Shares of Preferred Stock | shares	844,362
Fair Value Preferred Stock	$ 6,466
Series A 1 Preferred Stock [Member] | Convertible Promissory Notes [Member] | Note Purchase Agreement [Member]
Debt Conversion [Line Items]
Shares of Preferred Stock | shares	607,743
Fair Value Preferred Stock	$ 4,654
Series A 1 Preferred Stock [Member] | Convertible Promissory Notes [Member] | Note Purchase Agreement - Related Parties [Member]
Debt Conversion [Line Items]
Shares of Preferred Stock | shares	236,619
Fair Value Preferred Stock	$ 1,812
Series A 1 Preferred Stock [Member] | Convertible Promissory Notes [Member] | Agreements - Related Parties [Member]
Debt Conversion [Line Items]
Shares of Preferred Stock | shares	236,619
Fair Value Preferred Stock	$ 1,812
Series A 2 Preferred Stock [Member]
Debt Conversion [Line Items]
Shares of Preferred Stock | shares	123,691
Fair Value Preferred Stock	$ 947
Series A 2 Preferred Stock [Member] | Convertible Promissory Notes [Member] | Second Note Purchase Agreement - Related Parties [Member]
Debt Conversion [Line Items]
Shares of Preferred Stock | shares	123,691
Fair Value Preferred Stock	$ 947
Series A 2 Preferred Stock [Member] | Convertible Promissory Notes [Member] | Agreements - Related Parties [Member]
Debt Conversion [Line Items]
Shares of Preferred Stock | shares	123,691
Fair Value Preferred Stock	$ 947

Capitalization - Schedule of 34

Capitalization - Schedule of Mandatory Conversion of Convertible Promissory Notes into Preferred Stock (Parenthetical) (Detail)	Aug. 08, 2017USD ($)$ / sharesshares
Series A Preferred Stock [Member]
Debt Conversion [Line Items]
Shares issued, price per share | $ / shares	$ 7.66
Convertible Promissory Notes [Member] | Note Purchase Agreement [Member]
Debt Conversion [Line Items]
Target valuation amount | $	$ 16,000,000
Number of outstanding shares used for calculation of conversion price | shares	3,863,547
Convertible Promissory Notes [Member] | Note Purchase Agreement - Related Parties [Member]
Debt Conversion [Line Items]
Target valuation amount | $	$ 16,000,000
Number of outstanding shares used for calculation of conversion price | shares	3,863,547
Convertible Promissory Notes [Member] | Second Note Purchase Agreement - Related Parties [Member]
Debt Conversion [Line Items]
Conversion percentage	80.00%

Significant Agreements - Additi

Significant Agreements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Expenses incurred	$ 1,520	$ 319
Clinical Supply Agreement [Member]
Research and Development Arrangement, Contract to Perform for Others [Line Items]
Estimated remaining commitment	162
Expenses incurred	$ 801	$ 31

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Sep. 05, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted	55,000	0
Stock option vesting period	4 years
Stock option expiration period	10 years
Options exercised	2,368
Intrinsic value of options exercised	$ 18
Stock-based compensation expense		$ 65	$ 91
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		46	$ 32
Employee's and Board Member's Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 61	$ 6
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value of options granted	$ 6.98
Number of shares granted under the plan		0
Unrecognized stock-based compensation expense	$ 850
Estimated weighted average period	3 years 5 months 4 days
Non-Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted under the plan	0	0
Non-Employee Stock Option [Member] | Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 4	$ 85
2017 IPO Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorization to issue number of common stock				900,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Company's Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Available for Grant, Beginning balance	900,000
Available for Grant, Granted	(55,000)
Available for Grant, Exercised	0
Available for Grant, Cancelled or forfeited	4,500
Available for Grant, Ending balance	849,500		900,000
Stock Options Outstanding, Beginning balance	185,332
Stock Options Outstanding, Granted	55,000	0
Stock Options Outstanding, Exercised	(2,368)
Stock Options Outstanding, Cancelled or forfetied	(4,500)
Stock Options Outstanding, Ending balance	233,464		185,332
Stock Options Outstanding, Exercisable at March 31, 2018	35,523
Stock Options Outstanding, Vested at March 31, 2018	35,523
Weighted-average Exercise Price, Beginning balance	$ 3.91
Weighted-average Exercise Price, Granted	9.85
Weighted-average Exercise Price, Exercised	2.46
Weighted-average Exercise Price, Cancelled or forfeited	10
Weighted-average Exercise Price, Ending balance	5.21		$ 3.91
Weighted-average Exercise Price, Exercisable at March 31, 2018	2.46
Weighted-average Exercise Price, Vested at March 31, 2018	$ 2.46
Weighted-average Remaining Contractual Life (Years)	9 years 1 month 6 days		9 years
Weighted-average Remaining Contractual Life (Years), Exercisable	8 years 7 months 17 days
Weighted-average Remaining Contractual Life (Years), Vested	8 years 7 months 17 days
Aggregate Intrinsic Value, Beginning balance	$ 1,224
Aggregate Intrinsic Value, Ending balance	1,157		$ 1,224
Aggregate Intrinsic Value, Exercisable	271
Aggregate Intrinsic Value, Vested	$ 271

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Based Compensation Expense Related to Issuance of Stock Option Awards (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 65	$ 91
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	46	32
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 19	$ 59

Stock-Based Compensation - Fair

Stock-Based Compensation - Fair Value of Stock Options, Valuation Assumptions (Detail)	3 Months Ended
	Mar. 31, 2018$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price	$ 9.85
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	80.00%
Expected term of the award (years)	6 years 3 months
Risk-free interest rate	2.71%
Exercise price	$ 9.85

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - Chief Executive Officer [Member]	Mar. 19, 2018$ / sharesshares
Related Party Transaction [Line Items]
Number of shares issued and sold | shares	50,000
Shares issued, price per share | $ / shares	$ 11