Shareholders' Equity

6 Months Ended

Jun. 30, 2018

Stockholders' Equity Note [Abstract]

Changes in shareholders’ equity for the six months ended June 30, 2018 and 2017 were as follows:



	Six Months Ended June 30,
	2018			2017
Balances as of December 31, 2017 and 2016	$	131,971		$	(45,033	)
Beneficial conversion feature on Series A preferred shares	—			12,006
Accretion of beneficial conversion feature on Series A preferred shares	—			(12,006		)
Issuance of common shares as payment for equity investment	—			352
Conversion of convertible preferred shares to common shares	—			81,936
Issuance of common shares in settlement of contingent equity liability	—			32,020
Issuance of common shares upon completion of initial public offering, net of offering costs	—			176,128
Issuance of common share warrant as consideration for services	—			93
Issuance of common shares upon completion of private placement equity offerings, net of offering costs	95,855			—
Reclassification of warrant liability to equity	5,203			—
Exercise of stock options	1,836			—
Share-based compensation expense	8,696			4,549
Net loss	(124,731		)	(57,193		)
Balances as of June 30, 2018 and 2017	$	118,830		$	192,852

Private Placements

In March 2018, the Company sold an aggregate of 2,000,000 common shares in a private placement at a price of $27.50 per share, for net proceeds of $52,000 (“Private Placement”) after deducting underwriting discounts and commissions of $2,800 and other offering expenses of $200. Subsequent to the closing of the Private Placement, the Company paid BMS the $50,000 upfront payment under the BMS Amendment (see Note 12).

In June 2018, pursuant to the Purchase Agreement between the Company and RPI (Note 7), the Company sold 1,111,111 common shares to RPI at a price of $45.00 per common share for net proceeds of $49,889 after deducting offering expenses of $111.

Agreement with ALS Biopharma, LLC and Fox Chase Chemical Diversity Center Inc.

In January 2018, ALS Biopharma exercised a warrant for the purchase of 275,000 shares through a net share settlement, resulting in an issuance of 228,219 shares.

In April 2018, ALS Biopharma exercised a warrant for the purchase of 325,000 shares through a net share settlement, resulting in an issuance of 261,140 shares.