Organization and Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Property and equipment are recorded at cost and depreciated using the straight-line method over their estimated useful lives as follows:



Computer and office equipment	3 years
Furniture and fixtures	5-7 years
Laboratory equipment	7 years
Building asset under facility lease	25 years

Property and equipment consisted of the following:



	December 31,
	2018			2017
Computer equipment	$	577		$	529
Furniture and fixtures	312			354
Laboratory equipment	7,442			6,819
Office equipment	400			400
Building related to facility lease obligation	10,557			10,557
Leasehold improvements	1,168			1,000
Property and equipment, gross	20,456			19,659
Less: Accumulated depreciation and amortization	(4,588		)	(3,035		)
Total property and equipment, net	$	15,868		$	16,624

Summary of Anti-dilutive Securities Excluded from Calculation of Weighted Average Common Shares Outstanding

The following securities, presented on a common stock equivalent basis, have been excluded from the calculation of weighted average common shares outstanding for the years ended December 31, 2018 and 2017 because the effect is anti-dilutive due to the net loss reported in each of those periods. All share amounts presented in the table below represent the total number outstanding as of the end of each period. In addition, as described in Note 10—Share-Based Compensation, the Company’s board granted 1,000,000 SARs in the third quarter of 2018. These securities are subject to shareholder approval and therefore are not considered outstanding as of December 31, 2018; however, if such securities were to be approved by shareholders, their effect would be anti-dilutive.



	December 31,
	2018	2017
Warrants to purchase common stock associated with January 2018 public offering (Note 9)	10,000,000	—
Stock options outstanding under the 2008 and 2016 Plans (Note 10)	1,671,666	1,399,484
Inducement options outstanding (Note 10)	100,500	—

ASU 2014-09 (Topic 606)

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Adoption of Revenue Recognition Standard Impacted Previously Reported Results

Adoption of the revenue recognition standard, which is described in detail in “Note 5—Revenue Recognition”, impacted previously reported results as follows:

Consolidated Statements of Operations and Comprehensive Loss



	Year Ended December 31, 2017
	As Reported			Adjustments		As Adjusted
License and collaboration revenue	$	1,765		$	506	$	2,271
Research and development services revenue	375			—		375
Total revenue	2,140			506		2,646
Operating expenses:
Research and development	25,212			—		25,212
General and administrative	13,113			—		13,113
Total operating expenses	38,325			—		38,325
Operating loss	(36,185		)	506		(35,679		)
Other expense, net	(942		)	—		(942		)
Net loss and comprehensive loss	$	(37,127	)	$	506	$	(36,621	)
Net loss per share, basic and diluted	$	(2.32	)	$	0.03	$	(2.29	)
Weighted-average common shares outstanding, basic and diluted	15,981,247			—		15,981,247

Consolidated Balance Sheets



	December 31, 2017
	As Reported			Adjustments			As Adjusted
Deferred revenue, current portion	$	2,164		$	467		$	2,631
Deferred revenue, net of current portion	6,919			(973		)	5,946
Accumulated deficit	(160,160		)	506			(159,654		)