2022 Q3 Form 10-Q Financial Statement
#000162828022022687 Filed on August 12, 2022
Income Statement
| Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
|---|---|---|---|
| Revenue | $167.0K | $126.0K | $178.0K |
| YoY Change | -95.91% | -57.29% | -22.61% |
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $3.954M | $4.305M | $4.417M |
| YoY Change | -71.41% | -10.11% | -22.94% |
| % of Gross Profit | |||
| Research & Development | $5.546M | $4.108M | $4.452M |
| YoY Change | -20.56% | -18.62% | 4.63% |
| % of Gross Profit | |||
| Depreciation & Amortization | $171.0K | $12.00K | $44.00K |
| YoY Change | 510.71% | -52.0% | 62.96% |
| % of Gross Profit | |||
| Operating Expenses | $9.500M | $8.413M | $8.869M |
| YoY Change | -54.36% | -14.48% | -11.19% |
| Operating Profit | -$9.333M | -$8.287M | -$8.691M |
| YoY Change | -47.5% | -13.15% | -10.93% |
| Interest Expense | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% | -100.0% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $78.00K | $52.00K | -$3.000K |
| YoY Change | -322.86% | -175.36% | -94.74% |
| Pretax Income | -$9.255M | -$8.235M | -$8.694M |
| YoY Change | -56.52% | -22.93% | -20.06% |
| Income Tax | $0.00 | $0.00 | $0.00 |
| % Of Pretax Income | |||
| Net Earnings | -$9.459M | -$8.476M | $4.700M |
| YoY Change | -55.56% | -57.46% | -122.87% |
| Net Earnings / Revenue | -5664.07% | -6726.98% | 2640.45% |
| Basic Earnings Per Share | -$0.16 | -$0.15 | $0.08 |
| Diluted Earnings Per Share | -$0.16 | -$0.15 | $0.08 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 58.01M shares | 57.93M shares | 55.39M shares |
| Diluted Shares Outstanding | 57.93M shares | 57.93M shares | 55.39M shares |
Balance Sheet
| Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $35.51M | $42.81M | $50.50M |
| YoY Change | -32.11% | -58.6% | -57.76% |
| Cash & Equivalents | $35.51M | $42.81M | $50.50M |
| Short-Term Investments | |||
| Other Short-Term Assets | $3.065M | $3.802M | $4.624M |
| YoY Change | -45.93% | -35.26% | -20.28% |
| Inventory | $0.00 | $0.00 | $0.00 |
| Prepaid Expenses | |||
| Receivables | $471.0K | $304.0K | $535.0K |
| Other Receivables | $5.000M | $5.000M | $5.000M |
| Total Short-Term Assets | $44.05M | $51.92M | $60.65M |
| YoY Change | -42.14% | -59.57% | -57.62% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $127.0K | $298.0K | $310.0K |
| YoY Change | -73.09% | -40.52% | -41.4% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $2.735M | $2.974M | $3.355M |
| YoY Change | -25.64% | -22.37% | -18.17% |
| Total Long-Term Assets | $2.862M | $3.272M | $3.665M |
| YoY Change | -44.81% | -41.12% | -39.46% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $44.05M | $51.92M | $60.65M |
| Total Long-Term Assets | $2.862M | $3.272M | $3.665M |
| Total Assets | $46.91M | $55.19M | $64.32M |
| YoY Change | -42.31% | -58.81% | -56.88% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $2.523M | $1.431M | $3.612M |
| YoY Change | -66.89% | -85.8% | 3.2% |
| Accrued Expenses | $2.164M | $3.514M | $3.312M |
| YoY Change | -77.49% | -65.37% | -75.5% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $6.839M | $6.835M | $8.588M |
| YoY Change | -67.43% | -88.14% | -60.15% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | ||
| Other Long-Term Liabilities | |||
| YoY Change | |||
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | ||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $6.839M | $6.835M | $8.588M |
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Total Liabilities | $6.839M | $6.835M | $8.588M |
| YoY Change | -69.51% | -88.43% | -84.74% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$652.8M | -$643.3M | -$634.9M |
| YoY Change | 3.95% | 6.03% | 8.22% |
| Common Stock | $6.000K | $6.000K | $6.000K |
| YoY Change | 20.0% | 20.0% | 20.0% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $40.07M | $48.36M | $55.73M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $46.91M | $55.19M | $64.32M |
| YoY Change | -42.31% | -58.81% | -56.88% |
Cashflow Statement
| Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$9.459M | -$8.476M | $4.700M |
| YoY Change | -55.56% | -57.46% | -122.87% |
| Depreciation, Depletion And Amortization | $171.0K | $12.00K | $44.00K |
| YoY Change | 510.71% | -52.0% | 62.96% |
| Cash From Operating Activities | -$7.125M | -$8.225M | -$10.00M |
| YoY Change | -59.38% | -49.41% | -20.33% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | |||
| YoY Change | |||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$86.00K | $0.00 | $16.69M |
| YoY Change | -100.0% | ||
| Cash From Investing Activities | -$86.00K | $0.00 | $16.69M |
| YoY Change | -100.0% | ||
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $1.557M | ||
| YoY Change | -97.87% | ||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -26.00K | -61.00K | $1.532M |
| YoY Change | -99.92% | -51.59% | -97.92% |
| NET CHANGE | |||
| Cash From Operating Activities | -7.125M | -8.225M | -$10.00M |
| Cash From Investing Activities | -86.00K | 0.000 | $16.69M |
| Cash From Financing Activities | -26.00K | -61.00K | $1.532M |
| Net Change In Cash | -7.237M | -8.286M | $8.220M |
| YoY Change | -85.84% | -46.04% | -86.51% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$7.125M | -$8.225M | -$10.00M |
| Capital Expenditures | |||
| Free Cash Flow | |||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001566044 | ||
| dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2022 | ||
| dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
| dei |
Amendment Flag
AmendmentFlag
|
false | ||
| us-gaap |
Revenue From Contract With Customer Product And Service Extensible List
RevenueFromContractWithCustomerProductAndServiceExtensibleList
|
http://fasb.org/us-gaap/2022#RoyaltyMember | ||
| CY2021Q2 | us-gaap |
Revenue From Contract With Customer Product And Service Extensible List
RevenueFromContractWithCustomerProductAndServiceExtensibleList
|
http://fasb.org/us-gaap/2022#RoyaltyMember | |
| dei |
Document Transition Report
DocumentTransitionReport
|
false | ||
| CY2022Q2 | us-gaap |
Revenue From Contract With Customer Product And Service Extensible List
RevenueFromContractWithCustomerProductAndServiceExtensibleList
|
http://fasb.org/us-gaap/2022#RoyaltyMember | |
| us-gaap |
Revenue From Contract With Customer Product And Service Extensible List
RevenueFromContractWithCustomerProductAndServiceExtensibleList
|
http://fasb.org/us-gaap/2022#RoyaltyMember | ||
| CY2021Q1 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.25 | |
| dei |
Document Type
DocumentType
|
10-Q | ||
| dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2022-06-30 | ||
| dei |
Entity File Number
EntityFileNumber
|
001-38356 | ||
| dei |
Entity Registrant Name
EntityRegistrantName
|
VYNE THERAPEUTICS INC. | ||
| dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | ||
| dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
45-3757789 | ||
| dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
520 U.S. Highway 22, Suite 204 | ||
| dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Bridgewater | ||
| dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
NJ | ||
| dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
08807 | ||
| dei |
City Area Code
CityAreaCode
|
800 | ||
| dei |
Local Phone Number
LocalPhoneNumber
|
775-7936 | ||
| dei |
Security12b Title
Security12bTitle
|
Common Stock, par value $0.0001 | ||
| dei |
Entity Shell Company
EntityShellCompany
|
false | ||
| dei |
Trading Symbol
TradingSymbol
|
VYNE | ||
| dei |
Security Exchange Name
SecurityExchangeName
|
NASDAQ | ||
| dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
| dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | ||
| dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
| dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
| dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | ||
| dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
true | ||
| CY2022Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
58005568 | shares |
| CY2022Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
42814000 | usd |
| CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
42250000 | usd |
| CY2022Q2 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
0 | usd |
| CY2021Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
605000 | usd |
| CY2022Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
304000 | usd |
| CY2021Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
7583000 | usd |
| CY2022Q2 | vyne |
Amount Due From Sale Of Mst Franchise
AmountDueFromSaleOfMSTFranchise
|
5000000 | usd |
| CY2021Q4 | vyne |
Amount Due From Sale Of Mst Franchise
AmountDueFromSaleOfMSTFranchise
|
0 | usd |
| CY2022Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
3772000 | usd |
| CY2021Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
4565000 | usd |
| CY2022Q2 | vyne |
Operating Lease Right Of Use Asset Current
OperatingLeaseRightOfUseAssetCurrent
|
30000 | usd |
| CY2021Q4 | vyne |
Operating Lease Right Of Use Asset Current
OperatingLeaseRightOfUseAssetCurrent
|
338000 | usd |
| CY2022Q2 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
0 | usd |
| CY2021Q4 | us-gaap |
Assets Of Disposal Group Including Discontinued Operation Current
AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent
|
7845000 | usd |
| CY2022Q2 | us-gaap |
Assets Current
AssetsCurrent
|
51920000 | usd |
| CY2021Q4 | us-gaap |
Assets Current
AssetsCurrent
|
63186000 | usd |
| CY2022Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
298000 | usd |
| CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
354000 | usd |
| CY2022Q2 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
2974000 | usd |
| CY2021Q4 | us-gaap |
Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
|
3506000 | usd |
| CY2022Q2 | us-gaap |
Assets
Assets
|
55192000 | usd |
| CY2021Q4 | us-gaap |
Assets
Assets
|
67046000 | usd |
| CY2022Q2 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
1431000 | usd |
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment | |
| CY2022Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2022Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2021Q4 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
6510000 | usd |
| CY2022Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
3514000 | usd |
| CY2021Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
8593000 | usd |
| CY2022Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1603000 | usd |
| CY2021Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2752000 | usd |
| CY2022Q2 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
256000 | usd |
| CY2021Q4 | us-gaap |
Supplemental Unemployment Benefits Severance Benefits
SupplementalUnemploymentBenefitsSeveranceBenefits
|
206000 | usd |
| CY2022Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
31000 | usd |
| CY2021Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
349000 | usd |
| CY2022Q2 | us-gaap |
Liabilities
Liabilities
|
6835000 | usd |
| CY2021Q4 | us-gaap |
Liabilities
Liabilities
|
18410000 | usd |
| CY2022Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2021Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
| CY2022Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2022Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2022Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | usd |
| CY2022Q1 | vyne |
Period Of Closing Transaction
PeriodOfClosingTransaction
|
P1Y | |
| CY2021Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | usd |
| CY2021Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2022Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
| CY2022Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
| CY2022Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
58005616 | shares |
| CY2022Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
58005616 | shares |
| CY2021Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
53577744 | shares |
| CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
53577744 | shares |
| CY2022Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
6000 | usd |
| CY2021Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
5000 | usd |
| CY2022Q2 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
691682000 | usd |
| CY2021Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
688156000 | usd |
| us-gaap |
Nature Of Operations
NatureOfOperations
|
NATURE OF OPERATIONS<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">VYNE Therapeutics Inc. ("VYNE" or the "Company") is a biopharmaceutical company focused on developing proprietary, innovative and differentiated therapies for the treatment of immuno-inflammatory conditions. The Company is in the preclinical stages of developing products containing bromodomain and extra-terminal domain ("BET") inhibitor compounds. The Company's initial BET inhibitor candidate in development is VYN201, a locally administered pan-BET inhibitor, which the Company is exploring in various immuno-inflammatory diseases, including skin diseases. On August 10, 2022, the Company announced that its Phase 2a clinical trial evaluating the safety and efficacy of FMX114 for mild-to-moderate atopic dermatitis (“AD”) did not meet its primary endpoint. As a result, management and the board of directors will evaluate the Company's pipeline and prioritization of activities. The Company is a Delaware corporation, has its principal executive offices in Bridgewater, New Jersey and operates as one business segment.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Strategic Business Review and Sale of the MST Franchise</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beginning in the second quarter of 2021, the Company conducted a review of its commercial and research and development portfolio to determine how to optimally deploy capital and drive shareholder value. During the course of this review, the Company carefully considered the revenues received from the commercialization of AMZEEQ and ZILXI and the associated costs to drive those revenues, the protracted negative impact of the COVID-19 pandemic during the commercial launches of both AMZEEQ and ZILXI, the payor landscape, as well as the costs to develop each of its pipeline products. During this process, the Company evaluated several strategic options including the acquisition of marketed assets, out-licensing its approved products outside of the United States, and possible partnering or co-development relationships with interested parties. Following its review, the Company determined to initiate a process to explore a possible sale or license of its topical minocycline franchise, including AMZEEQ, ZILXI, FCD105 (the Company’s former Phase 3 proprietary novel topical combination foam formulation of minocycline and adapalene for the treatment of moderate-to-severe acne vulgaris) and the underlying Molecule Stabilizing Technology ("MST") platform.</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 12, 2022, the Company entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Journey Medical Corporation ("Journey") pursuant to which the Company sold its MST franchise, including AMZEEQ, ZILXI, and FCD105 (the “MST Franchise”), to Journey. The assets include certain contracts, including the license agreement with Cutia Therapeutics (HK) Limited, inventory and intellectual property related to the MST Franchise (together, the “Assets”). Pursuant to the Purchase Agreement, Journey assumed certain liabilities of the MST Franchise including, among others, those arising from the Company's patent infringement suit initiated against Padagis Israel Pharmaceuticals Ltd. There were no current or long-term liabilities recorded by the Company which were transferred to Journey.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Purchase Agreement, the Company received an upfront payment of $20.0 million at the closing of the sale and will receive an additional $5.0 million on the one-year anniversary of the closing of the transaction. The Company is also eligible to receive sales milestone payments of up to $450.0 million in the aggregate upon the achievement of specified levels of net sales on a product-by-product basis, beginning with annual net sales exceeding $100.0 million (with products covered in three categories (1) AMZEEQ (and certain modifications), (2) ZILXI (and certain modifications), and (3) FCD105 and other products covered by the patents being transferred, including certain modifications). In addition, the Company is entitled to receive certain payments from any licensing or sublicensing of the assets by Journey outside of the United States. See "Note 3 - Discontinued Operations" for additional discussion of the disposition.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In addition, on August 12, 2021, the Company announced a transaction with In4Derm Limited, a company incorporated and registered in Scotland (“In4Derm”). In4Derm is a spin-out of the University of Dundee’s School of Life Sciences which has discovered and is developing proprietary BET inhibitors for the treatment of immunology and oncology conditions. On April 30, 2021, the parties entered into an Evaluation and Option Agreement (the “Option Agreement”) pursuant to which In4Derm granted the Company an exclusive option to obtain exclusive worldwide rights to research, develop and commercialize products containing In4Derm’s BET inhibitor compounds, which are new chemical entities for treatments in all fields for any disease, disorder or condition in humans. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On August 6, 2021, the Company exercised its option with respect to certain of In4Derm's pan-BD Inhibitor Compounds ("Topical Option"). Upon exercise of the Topical Option, the parties entered into a License Agreement granting the Company a worldwide, exclusive license that is sublicensable through multiple tiers to exploit certain of In4Derm’s pan-BD BET inhibitor compounds in all fields. The Company paid a $1.0 million cash payment to In4Derm upon the execution of the Option </span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Agreement and $0.5 million in connection with entering into the License Agreement. These payments were recorded as a research and development expense in the period paid. Pursuant to the License Agreement, the Company has agreed to make cash payments to In4Derm upon the achievement of specified clinical development and regulatory approval milestones with respect to each licensed topical product in the United States of up to $15.75 million for all indications. The License agreement provides for tiered royalty payments of up to 10% of annual net sales on the licensed product.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In addition, the Company currently expects to exercise its option (the "Oral BETi Option") for the oral BET inhibitor compounds (the "Oral BETi Compounds") following the selection of a lead candidate for the program. Under the terms of the initial agreement, the Oral BETi Option was to expire upon the earlier of (i) 14 days following the delivery of an agreed data package and selection of a lead new chemical entity ("NCE") candidate by In4Derm or (ii) June 30, 2022 (the "Option Term"). On June 15, 2022, the parties entered into a Letter Agreement (the “Letter Agreement”) to extend the Option Term to February 28, 2023. Pursuant to the terms of the Letter Agreement, the Company paid and recorded a related research and development expense of $386,366 USD (£300,000) on June 28, 2022, to In4Derm. In addition, a second payment of £850,000 will be due upon discovery of at least two potential preclinical candidates. If the second payment is not received by the time In4Derm delivers this data on or around August 31, 2022, the Option Term shall automatically be deemed expired without any further action on the part of either Party. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Upon exercise of the exclusive Oral BETi Option, the parties will sign a license agreement (the “Oral License Agreement”), and the Company will be required to pay In4Derm a $4.0 million cash payment. The Oral License Agreement will include cash payments of up to $43.75 million payable to In4Derm upon the achievement of specified clinical development and regulatory approval milestones with respect to each licensed oral product in the United States for all indications. The license agreements also provide for tiered royalty payments of up to 10% of net annual sales across licensed BET inhibitor products by the Company. In4Derm is entitled to additional milestones upon the achievement of regulatory approvals in certain jurisdictions outside the United States. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As the Company transitioned from a commercial organization to one focused on research and development, the Company streamlined operations by eliminating the vast majority of planned expenditures supporting its commercial operations Furthermore, following its decision to divest the MST Franchise, the Company reduced its workforce to approximately 28 employees by the completion of the sale of the MST Franchise. The Company does not expect to incur any material expenses in 2022 as a result of the restructuring plan. </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:100%">Reverse stock split and recasting of per-share amounts</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 10, 2021, the Company's Board of Directors approved a one-for-four reverse stock split of its outstanding shares of common stock. The reverse stock split was effected on February 12, 2021, at 5:00 p.m. Eastern time. At the effective time, every four issued and outstanding shares of the Company's common stock were converted into one share of common stock. No fractional shares were issued in connection with the reverse stock split, and in lieu thereof, each stockholder holding fractional shares was entitled to receive a cash payment (without interest or deduction) from the Company's transfer agent in an amount equal to such stockholder's respective pro rata shares of the total net proceeds from the Company's transfer agent sale of all fractional shares at the then-prevailing prices on the open market. In connection with the reverse stock split, the number of authorized shares of the Company's common stock was also reduced on a one-for-four basis, from 300 million shares to 75 million shares. The par value of each share of common stock remained unchanged. A proportionate adjustment was also made to the maximum number of shares issuable under the Company's 2019 Equity Incentive Plan, 2019 Employee Share Purchase Plan and 2018 Omnibus Incentive Plan.</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Unless otherwise noted, all common shares and per share amounts contained in the unaudited condensed consolidated financial statements have been retroactively adjusted to reflect the reverse stock split.</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Liquidity and Capital Resources </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since inception, the Company has funded operations primarily through private and public placements of its equity, debt and warrants and through fees, cost reimbursements and payments received from its licensees. The Company commenced generating product revenues related to sales of AMZEEQ and ZILXI in January 2020 and October 2020, respectively. AMZEEQ and ZILXI were sold as part of the sale of the MST Franchise on January 12, 2022 and, as such, the Company no longer generates revenue from the sale of these products. The Company has incurred losses from continuing operations and experienced negative operating cash flows since its inception and anticipates that it will continue to incur losses until such a time when its product candidates, if approved, are commercially successful, if at all. The Company will not generate any revenue from any current or future product candidates unless and until it obtains regulatory approval and commercializes such products. For the six months ended June 30, 2022, the Company generated a net loss of $3.8 million and used $18.2 million of cash in operations. Net loss was the result of income from discontinued operations of $13.1 million and loss from continuing operations of $16.9 million </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2022, the Company had cash and cash equivalents of $42.8 million and an accumulated deficit of $643.3 million. The Company received gross proceeds of $20.0 million from the sale of the MST Franchise in January 2022 and will receive an additional payment of $5.0 million on the one-year anniversary of the sale. The Company had no outstanding debt as of June 30, 2022.</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has taken a number of actions to support its operations and meet its liquidity needs. Beginning in the second quarter of 2021, the Company conducted a review of its commercial and research and development portfolio to determine how to optimally deploy capital and drive shareholder value. Following its review, the Company initiated a process to explore a possible sale or license of its MST Franchise, including AMZEEQ, ZILXI, FCD105 and the underlying Molecule Stabilizing Technology platform and refocus its resources on its immuno-inflammatory development programs. As a result of this decision, the Company restructured its operations and reduced its workforce, which lowered operating costs. In January 2022, the Company sold its MST Franchise. </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In March 2022, the Company entered into an equity purchase agreement (the “Equity Purchase Agreement”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”) which provides that, upon the terms and subject to the conditions and limitations set forth therein, the Company may sell to Lincoln Park up to $30.0 million of shares of its common stock over the 36-month term of the Equity Purchase Agreement. The Company has not made any sales pursuant to the Equity Purchase Agreement to date. </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As described above, the Company refocused its limited resources on its immuno-inflammatory pipeline. Continued research and development activities for these programs, including preclinical and clinical testing of the Company's product candidates, will require significant additional financing. The future viability of the Company and its ability to continue as a going concern is dependent on its ability to raise sufficient working capital through either debt or equity financings to fund its operations and successfully develop commercially viable product candidates. There is no assurance the Company will be able to achieve these objectives under acceptable terms or at all.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with Accounting Standards Update (“ASU”) 2014-15, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (Subtopic 205-40), the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year after the date that its unaudited interim condensed consolidated financial statements are issued. The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern and contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. The Company's ability to continue as a going concern is expected to be impacted by the outcome of the plans outlined above, including the Company's ability to raise additional capital to fund its operations and the development and results from clinical trials for the BET inhibitor programs. Based on its current plans and assumptions, the Company believes that absent sufficient proceeds received from financing transactions or business development transactions, the Company will not have sufficient cash and cash equivalents to fund its operations beyond one year from the issuance of these financial statements. This assumption does not include proceeds that can be drawn from Lincoln Park. Accordingly, the Company will, over the course of the next twelve months, require significant additional financing to continue its operations, including potentially selling a significant amount of shares pursuant to the Equity Purchase Agreement. In addition, the amount of proceeds the Company may be able to raise pursuant to its existing shelf registration statement on Form S-3 may be limited. As of the filing of this Quarterly Report on Form 10-Q, the Company is subject to the general instructions of Form S-3 known as the "baby shelf rules." Under these instructions, the amount of funds the Company can raise through primary public offerings of securities in any 12-month period using its registration statement on Form S-3 is limited to one-third of the aggregate market value of the shares of its common stock held by non-affiliates of the Company. Therefore, the Company will be limited in the amount of proceeds it is able to raise by selling shares of its common stock using its Form S-3 until such time as its public float exceeds $75.0 million. These factors raise substantial doubt about the Company's ability to continue as a going concern. Failure to successfully receive additional financing will require the Company to delay, scale back or otherwise modify its business and its research and development activities and other operations. The accompanying financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern.</span></div> | ||
| CY2022Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-643331000 | usd |
| CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-639525000 | usd |
| CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
48357000 | usd |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
48636000 | usd |
| CY2022Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
55192000 | usd |
| CY2021Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
67046000 | usd |
| CY2022Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
126000 | usd |
| CY2021Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
295000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
304000 | usd | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
525000 | usd | |
| CY2022Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
126000 | usd |
| CY2021Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
295000 | usd |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
304000 | usd | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
525000 | usd | |
| CY2022Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4108000 | usd |
| CY2021Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
5048000 | usd |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
8560000 | usd | |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
9303000 | usd | |
| CY2022Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
4305000 | usd |
| CY2021Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
4789000 | usd |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
8722000 | usd | |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
10521000 | usd | |
| CY2022Q2 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
8413000 | usd |
| CY2021Q2 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
9837000 | usd |
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
17282000 | usd | |
| us-gaap |
Costs And Expenses
CostsAndExpenses
|
19824000 | usd | |
| CY2022Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-8287000 | usd |
| CY2021Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-9542000 | usd |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-16978000 | usd | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-19299000 | usd | |
| CY2022Q2 | us-gaap |
Interest Expense
InterestExpense
|
0 | usd |
| CY2021Q2 | us-gaap |
Interest Expense
InterestExpense
|
1074000 | usd |
| us-gaap |
Interest Expense
InterestExpense
|
0 | usd | |
| us-gaap |
Interest Expense
InterestExpense
|
2136000 | usd | |
| CY2022Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
52000 | usd |
| CY2021Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-69000 | usd |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
49000 | usd | |
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-126000 | usd | |
| CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-8235000 | usd |
| CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-10685000 | usd |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-16929000 | usd | |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-21561000 | usd | |
| CY2022Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
| CY2021Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd | |
| CY2022Q2 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-8235000 | usd |
| CY2021Q2 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-10685000 | usd |
| us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-16929000 | usd | |
| us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-21561000 | usd | |
| CY2022Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-241000 | usd |
| CY2021Q2 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-9239000 | usd |
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
13123000 | usd | |
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-18913000 | usd | |
| CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8476000 | usd |
| CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19924000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-3806000 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-40474000 | usd | |
| CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.14 | |
| CY2022Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.14 | |
| CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.21 | |
| CY2021Q2 | us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.21 | |
| us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.30 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.81 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.81 | ||
| us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.30 | ||
| us-gaap |
Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
|
-0.43 | ||
| us-gaap |
Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
|
-0.43 | ||
| CY2022Q2 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
|
-0.01 | |
| CY2022Q2 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
|
-0.01 | |
| CY2021Q2 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
|
-0.18 | |
| CY2021Q2 | us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
|
-0.18 | |
| us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
|
0.23 | ||
| us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
|
0.23 | ||
| us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
|
-0.38 | ||
| us-gaap |
Discontinued Operation Income Loss From Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare
|
-0.38 | ||
| CY2022Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.15 | |
| CY2022Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.15 | |
| CY2021Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.39 | |
| CY2021Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.39 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.07 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.07 | ||
| us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
403000 | usd | |
| us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
4343000 | usd | |
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
3991000 | usd | |
| CY2022Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
57930000 | shares |
| CY2022Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
57930000 | shares |
| CY2021Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
51411000 | shares |
| CY2021Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
51411000 | shares |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
56665000 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
56665000 | shares | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
50162000 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
50162000 | shares | |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
37493000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-40474000 | usd | |
| us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
73128000 | usd | |
| CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
74893000 | usd |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
48636000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-3806000 | usd | |
| us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
0 | usd | |
| us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
2056000 | usd | |
| us-gaap |
Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
|
1667593 | shares | |
| us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
135000 | usd | |
| us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
1471000 | usd | |
| CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
48357000 | usd |
| CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
92901000 | usd |
| CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-19924000 | usd |
| CY2021Q2 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
15000 | usd |
| CY2021Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
1901000 | usd |
| CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
74893000 | usd |
| CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
55731000 | usd |
| CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8476000 | usd |
| CY2022Q2 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
25000 | usd |
| CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
|
1163000 | usd |
| us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
0 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2056000 | usd | |
| CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
48357000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-3806000 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-40474000 | usd | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
56000 | usd | |
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
55000 | usd | |
| vyne |
Increase Decrease In Employee Severance Liability Net Of Retirement Fund Profits
IncreaseDecreaseInEmployeeSeveranceLiabilityNetOfRetirementFundProfits
|
50000 | usd | |
| vyne |
Increase Decrease In Employee Severance Liability Net Of Retirement Fund Profits
IncreaseDecreaseInEmployeeSeveranceLiabilityNetOfRetirementFundProfits
|
-108000 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4343000 | usd | |
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
0 | usd | |
| us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
150000 | usd | |
| us-gaap |
Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
|
13005000 | usd | |
| us-gaap |
Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
|
0 | usd | |
| us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-7976000 | usd | |
| us-gaap |
Increase Decrease In Receivables
IncreaseDecreaseInReceivables
|
-4266000 | usd | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-97000 | usd | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
875000 | usd | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
1027000 | usd | |
| us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-876000 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-11306000 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
3259000 | usd | |
| us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-318000 | usd | |
| us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
0 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-18200000 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-28808000 | usd | |
| us-gaap |
Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
|
16688000 | usd | |
| us-gaap |
Proceeds From Divestiture Of Businesses
ProceedsFromDivestitureOfBusinesses
|
0 | usd | |
| us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
0 | usd | |
| us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
1027000 | usd | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
16688000 | usd | |
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1471000 | usd | |
| us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
73127000 | usd | |
| vyne |
Payments Proceeds From Stock Options Exercised Net
PaymentsProceedsFromStockOptionsExercisedNet
|
0 | usd | |
| vyne |
Payments Proceeds From Stock Options Exercised Net
PaymentsProceedsFromStockOptionsExercisedNet
|
247000 | usd | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1471000 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
73374000 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-41000 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
45593000 | usd | |
| CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
42855000 | usd |
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
58418000 | usd |
| CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
42814000 | usd |
| CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
104011000 | usd |
| CY2022Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
42814000 | usd |
| CY2021Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
103406000 | usd |
| CY2022Q2 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
0 | usd |
| CY2021Q2 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
605000 | usd |
| CY2022Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
42814000 | usd |
| CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
104011000 | usd |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd | |
| us-gaap |
Interest Paid Net
InterestPaidNet
|
1936000 | usd | |
| CY2022Q1 | vyne |
Disposal Group Milestone Payments Receivable Upon Achievement Of Net Sales
DisposalGroupMilestonePaymentsReceivableUponAchievementOfNetSales
|
450000000 | usd |
| CY2022Q1 | vyne |
Milestone Payments Upon Achieving Certain Criteria Exceeding Annual Net Sales
MilestonePaymentsUponAchievingCertainCriteriaExceedingAnnualNetSales
|
100000000 | usd |
| CY2021 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
|
28 | employee |
| CY2021Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
75000000 | shares |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-3800000 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-18200000 | usd | |
| us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
13100000 | usd | |
| us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-16900000 | usd | |
| CY2022Q2 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
42800000 | usd |
| CY2022Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-643300000 | usd |
| CY2022Q2 | us-gaap |
Long Term Debt
LongTermDebt
|
0 | usd |
| CY2022Q2 | vyne |
Sale Of Stock Public Float Threshold
SaleOfStockPublicFloatThreshold
|
75000000 | usd |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
Use of EstimatesThe preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and reported amounts of income and expenses during the reporting periods. Significant items subject to such estimates and assumptions include research and development accruals and valuation assumptions for share based compensation. Actual results could differ from the Company’s estimates.The COVID-19 pandemic and government measures taken in response to the pandemic had a negative impact on the Company's commercial operations in 2021. Access to healthcare providers was limited, which negatively impacted sales and the Company's ability to execute its commercial strategy with respect to AMZEEQ and ZILXI prior to the sale of the assets to Journey in January 2022. In addition, the Company further assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of COVID-19 as of June 30, 2022 and through the issuance of the unaudited consolidated financial statements. | ||
| CY2021Q2 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | usd |
| CY2022Q1 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | usd |
| us-gaap |
Inventory Write Down
InventoryWriteDown
|
0 | usd | |
| CY2022Q2 | us-gaap |
Inventory Net
InventoryNet
|
0 | usd |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd | |
| CY2021Q2 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd |
| us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd | |
| CY2022Q2 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
0 | usd |
| CY2021Q4 | us-gaap |
Fair Value Net Asset Liability
FairValueNetAssetLiability
|
0 | usd |
| CY2022Q2 | us-gaap |
Fair Value Net Asset Liability
FairValueNetAssetLiability
|
0 | usd |
| vyne |
Amount Due From Sale Of Mst Franchise1
AmountDueFromSaleOfMSTFranchise1
|
5000000 | usd | |
| vyne |
Amount Due From Sale Of Mst Franchise1
AmountDueFromSaleOfMSTFranchise1
|
0 | usd | |
| CY2022Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
| CY2022Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
20000000 | shares |
| CY2022Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2022Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2022Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
66673 | shares | |
| us-gaap |
Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
|
0 | shares | |
| vyne |
Share Based Compensation Arrangement By Share Based Payment Award Options And Equity Instruments Other Than Options Grants In Period Total Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndEquityInstrumentsOtherThanOptionsGrantsInPeriodTotalGrantDateFairValue
|
800000 | usd | |
| vyne |
Share Based Compensation Arrangement By Share Based Payment Award Options And Equity Instruments Other Than Options Grants In Period Total Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAndEquityInstrumentsOtherThanOptionsGrantsInPeriodTotalGrantDateFairValue
|
7500000 | usd | |
| CY2022Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1163000 | usd |
| CY2021Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1901000 | usd |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2056000 | usd | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4343000 | usd | |
| CY2022Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
31000 | usd |
| CY2022Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
0 | usd |
| CY2022Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
0 | usd |
| CY2021Q4 | vyne |
Restricted Investments To Secure Lease Agreements
RestrictedInvestmentsToSecureLeaseAgreements
|
600000 | usd |
| CY2022Q2 | vyne |
Lessee Proceeds From Lien Release
LesseeProceedsFromLienRelease
|
600000 | usd |
| CY2022Q2 | us-gaap |
Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
|
0 | claim |
