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Fair Value Considerations (Tables) | 9 Months Ended
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Sep. 30, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |
Summary of fair value financial assets measured on a recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | Total
September 30, 2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 39,112 | ​ | $ | — | ​ | $ | — | ​ | $ | 39,112
U.S. government securities | ​ | ​ | 4,520 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,520
Corporate bonds | ​ | ​ | — | ​ | ​ | 6,441 | ​ | ​ | — | ​ | ​ | 6,441
Commercial paper | ​ | ​ | — | ​ | ​ | 28,165 | ​ | ​ | — | ​ | ​ | 28,165
Asset-backed securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total assets | ​ | $ | 43,632 | ​ | $ | 34,606 | ​ | $ | — | ​ | $ | 78,238
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Debt derivative liability | ​ | $ | — | ​ | $ | — | ​ | $ | 2,450 | ​ | $ | 2,450
Common stock derivative option liability | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 183 | ​ | ​ | 183
Total liabilities | ​ | $ | — | ​ | $ | — | ​ | $ | 2,633 | ​ | $ | 2,633
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | (Level 1) | ​ | (Level 2) | ​ | (Level 3) | ​ | Total
December 31, 2019 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ | $ | 26,812 | ​ | $ | — | ​ | $ | — | ​ | $ | 26,812
U.S. government securities | ​ | ​ | 4,544 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,544
Corporate bonds | ​ | ​ | — | ​ | ​ | 17,754 | ​ | ​ | — | ​ | ​ | 17,754
Commercial paper | ​ | ​ | — | ​ | ​ | 24,679 | ​ | ​ | — | ​ | ​ | 24,679
Asset-backed securities | ​ | ​ | — | ​ | ​ | 13,808 | ​ | ​ | — | ​ | ​ | 13,808
Total assets | ​ | $ | 31,356 | ​ | $ | 56,241 | ​ | $ | — | ​ | $ | 87,597
Schedule of the fair value of instruments classified as Level 3 measurements | ​
​ | ​ | ​ | ​
​ | ​ | ​ | ​
Quarter Ending September 30, 2020 | ​ | ​ | ​
Beginning Balance, July 1, 2020 | ​ | $ | 2,562
Change in fair value of option derivative | ​ | ​ | 11
Change in fair value of debt derivative | ​ | ​ | 60
Ending Balance, September 30, 2020 | ​ | $ | 2,633
​ | ​ | ​ | ​
Year Ending December 31, 2020 | ​ | ​ | ​
Beginning Balance | ​ | $ | —
Option to purchase shares | ​ | ​ | 183
Fair Value of Derivative Feature | ​ | ​ | 2,450
Ending Balance, September 30, 2020 | ​ | $ | 2,633
​ | ​ | ​ | ​
Debt derivative liability |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] |
Schedule of valuation of the debt derivative liability | ​
​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2020
Input | ​ | ​ | ​ | ​
Remaining term (years) | ​ | ​ | 6.75 years | ​
Maturity date | ​ | ​ | June 30, 2027 | ​
Coupon rate | ​ | ​ | 9.50% | ​
Revenue participation payments | ​ | ​ | Maximum each year | ​
Discount rate | ​ | ​ | 10.03% | (1)
Probability of mandatory prepayment before 2024 | ​ | ​ | 5.0% | (1)
Estimated timing of mandatory prepayment event before 2024 | ​ | ​ | December 31, 2023 | (1)
Probability of mandatory prepayment 2024 or after | ​ | ​ | 15.0% | (1)
Estimated timing of mandatory prepayment event 2024 or after | ​ | ​ | March 31, 2026 | (1)
Probability of optional prepayment event | ​ | ​ | 5.0% | (1)
Estimated timing of optional prepayment event | ​ | ​ | December 31, 2025 | (1)
​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2020 | ​
Input | ​ | ​ | ​ | ​
Option term | ​ | ​ | 6.75 years | ​
Company stock price | ​ | $ | 11.63 | ​
Risk free rate | ​ | ​ | 0.45% | ​
Equity volatility | ​ | ​ | 60% | (1)
Simulation trials | ​ | ​ | 100,000 | ​

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
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