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CONSOLIDATED STATEMENTS OF CASH FLOWS
12 Months Ended
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Cash flows from operating activities:      
Net loss $ (56,671,000) $ (27,319,000) $ (21,873,000)
Adjustments to reconcile net loss to cash used in operating activities:      
Depreciation and amortization 2,360,000 741,000 825,000
Stock-based compensation expense 8,178,000 4,644,000 4,829,000
Restricted stock-based compensation expense 688,000 1,272,000 3,432,000
Non-cash earnings on investments (626,000) 0 0
Net gain on write-off of licensed technology 0 (127,000) 0
Change in operating assets and liabilities:      
Receivables 26,000 17,000 (9,000)
Prepaid expenses and other current assets (1,067,000) (2,580,000) 160,000
Other assets 40,000 (11,000) (4,000)
Accounts payable and accrued expenses 7,665,000 (1,301,000) 2,819,000
Contingent consideration milestone 0 0 (2,591,000)
Deferred revenue 296,000 2,009,000 (602,000)
Net cash used in operating activities (39,111,000) (22,655,000) (13,014,000)
Cash flows from investing activities:      
Capital expenditures (9,243,000) (860,000) (519,000)
Acquisition of licensed technology (10,251,000) 0 0
Purchases of short-term investments (136,092,000) 0 0
Proceeds from maturities of short-term investments 70,500,000 0 0
Net cash used in investing activities (85,086,000) (860,000) (519,000)
Cash flows from financing activities:      
Proceeds from exercise of stock options 2,244,000 344,000 350,000
Proceeds from $2.85 restricted common stock issuance 0 0 150,000
Net cash provided by financing activities 5,477,000 92,403,000 42,537,000
Net (decrease)/increase in cash, cash equivalents and restricted cash (118,720,000) 68,888,000 29,004,000
Cash, cash equivalents and restricted cash at beginning of year 138,030,000 69,142,000 40,138,000
Cash, cash equivalents and restricted cash at end of year 19,310,000 138,030,000 69,142,000
Supplemental cash flow information:      
Cash and cash equivalents 18,750,000 137,750,000 69,142,000
Restricted cash 560,000 280,000 0
Total cash, cash equivalents and restricted cash 19,310,000 138,030,000 69,142,000
Payable for acquistion of licensed technology 30,000,000 0 0
Write off of licensed asset and corresponding liability 0 4,000,000 0
Shares issued to EB Research Partnership and Epidermolysis Bullosa Medical Research Foundation for licenses 0 0 2,452,000
Cash paid for interest 11,000 8,000 6,000
Private Placement One [Member]      
Cash flows from financing activities:      
Proceeds From Issuance Of Common Stock 0 86,174,000 0
Private Placement Two [Member]      
Cash flows from financing activities:      
Proceeds From Issuance Of Common Stock 0 0 41,068,000
Private Placement Three [Member]      
Cash flows from financing activities:      
Proceeds From Issuance Of Common Stock 0 0 969,000
Dollar Five Warrant [Member]      
Cash flows from financing activities:      
Proceeds from Warrant Exercises 3,233,000 885,000 0
Dollar Eight Warrant [Member]      
Cash flows from financing activities:      
Proceeds from Warrant Exercises $ 0 $ 5,000,000 $ 0