Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2019

Summary of Significant Accounting Policies

Schedule of fair value of assets and liabilities measured on recurring basis

The following fair value hierarchy table presents information about each major category of the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands):

	Fair value measurement at reporting date using
	Quoted prices in
	active markets		Significant other		Significant
	for identical		observable		unobservable
	assets		inputs		inputs
	(Level 1)		(Level 2)		(Level 3)
September 30, 2019
Assets:
Cash equivalents – money market fund	$	9,470	$	—	$	—
Liability:
Warrant liability	$	—	$	—	$	1,644
December 31, 2018
Assets:
Cash equivalents – money market fund	$	16,002	$	—	$	—
Liability:
Warrant liability	$	—	$	—	$	1,640

Schedule of warrant liability

January 1, 2019	$	1,640
Change in fair value of warrants		4
September 30, 2019	$	1,644

Schedule of fair value of warrants

			Convertible
	MidCap Credit		promissory
	Facility		notes		Notes payable
Expected dividend yield	—		—		—
Expected volatility	57.46	%	57.40	%	57.19	%
Risk‑free interest rate	1.65	%	1.62	%	1.62	%
Remaining contractual term in years	8.6		7.3		7.5

Schedule of dilutive securities excluded

	September 30,
	2019	2018
Series A redeemable convertible preferred stock	911,336	911,336
Series B redeemable convertible preferred stock	3,060,302	2,459,245
Stock options (including shares subject to repurchase)	552,605	472,450
Series B redeemable convertible preferred stock warrants	88,556	88,556
Total	4,612,799	3,931,587