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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2018	Feb. 22, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	URGN
Entity Registrant Name	UroGen Pharma Ltd.
Entity Central Index Key	0001668243
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		20,476,443
Entity Public Float			$ 719.5

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 101,318	$ 36,999
Short-term investments		36,001
Restricted deposit	253	198
Inventory		316
Prepaid expenses and other current assets	672	958
TOTAL CURRENT ASSETS	102,243	74,472
NON-CURRENT ASSETS
Property and equipment, net	948	805
Restricted deposit	51	29
Other non-current assets	317	244
TOTAL ASSETS	103,559	75,550
CURRENT LIABILITIES:
Accounts payable and accrued expenses	8,540	4,435
Employee related accrued expenses	4,925	1,950
Deferred revenues		650
TOTAL CURRENT LIABILITIES	13,465	7,035
TOTAL LIABILITIES	13,465	7,035
COMMITMENTS AND CONTINGENCIES (Note 12)
SHAREHOLDERS’ EQUITY:
Ordinary shares, NIS 0.01 par value; 100,000,000 shares authorized at December 31, 2018 and 2017; 16,214,883 and 13,751,390 shares issued and outstanding as of December 31, 2018 and 2017, respectively	44	37
Additional paid-in capital	212,921	115,692
Accumulated deficit	(122,871)	(47,214)
TOTAL SHAREHOLDERS’ EQUITY	90,094	68,515
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 103,559	$ 75,550

CONSOLIDATED BALANCE SHEETS (Parenthetical) - ₪ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Ordinary shares, par value	₪ 0.01	₪ 0.01
Ordinary shares, shares authorized	100,000,000	100,000,000
Ordinary shares, issued	16,214,883	13,751,390
Ordinary shares, outstanding	16,214,883	13,751,390

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
REVENUES	$ 1,128	$ 8,158	$ 17,530
COST OF REVENUES	1,803	600	28
GROSS (LOSS) PROFIT	(675)	7,558	17,502
OPERATING EXPENSES:
RESEARCH AND DEVELOPMENT EXPENSES, NET	36,934	18,697	10,287
GENERAL AND ADMINISTRATIVE EXPENSES	39,571	8,811	6,417
OPERATING (LOSS) INCOME	(77,180)	(19,950)	798
FINANCE (INCOME) EXPENSES, NET	(1,648)	31	2,739
LOSS BEFORE INCOME TAXES	(75,532)	(19,981)	(1,941)
INCOME TAX EXPENSE	125	19
NET LOSS	$ (75,657)	$ (20,000)	$ (1,941)
LOSS PER ORDINARY SHARE BASIC AND DILUTED	$ (4.80)	$ (2.14)	$ (1.91)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING USED IN COMPUTATION OF BASIC AND DILUTED LOSS PER ORDINARY SHARE	15,754,193	9,716,790	2,305,503

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	IPO	Ordinary Shares	Ordinary Shares IPO	Preferred Shares	Additional Paid-In Capital	Additional Paid-In Capital IPO	Accumulated Deficit
Balance at Dec. 31, 2015	$ 16,281		$ 6		$ 13	$ 41,535		$ (25,273)
Balance,Share at Dec. 31, 2015			2,300,959		5,193,427
Exercise of options into ordinary shares, shares			4,784
Share-based compensation	1,967					1,967
Net loss	(1,941)							(1,941)
Balance at Dec. 31, 2016	16,307		$ 6		$ 13	43,502		(27,214)
Balance,Share at Dec. 31, 2016			2,305,743		5,193,427
Exercise of options into ordinary shares	404		$ 2			402
Exercise of options into ordinary shares, shares			743,806
Share-based compensation	6,300					6,300
Exercise of warrants into preferred shares	4,732				$ 1	4,731
Exercise of warrants into preferred shares, shares					364,036
Exercise of preferred shares into ordinary shares			$ 14		$ (14)
Exercise of preferred shares into ordinary shares, shares			5,557,463		(5,557,463)
Issuance of ordinary shares in public offering, net of issuance expenses		$ 60,772		$ 15			$ 60,757
Issuance of ordinary shares in public offering, net of issuance expenses, shares				5,144,378
Net loss	(20,000)							(20,000)
Balance at Dec. 31, 2017	68,515		$ 37			115,692		(47,214)
Balance,Share at Dec. 31, 2017			13,751,390
Exercise of options into ordinary shares	2,401		$ 2			2,399
Exercise of options into ordinary shares, shares			780,567
Share-based compensation	30,642					30,642
Issuance of ordinary shares in public offering, net of issuance expenses	64,193		$ 5			64,188
Issuance of ordinary shares in public offering, net of issuance expenses, shares			1,682,926
Net loss	(75,657)							(75,657)
Balance at Dec. 31, 2018	$ 90,094		$ 44			$ 212,921		$ (122,871)
Balance,Share at Dec. 31, 2018			16,214,883

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
IPO
Shares issuance expense and underwriters discounts	$ 6,105

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (75,657)	$ (20,000)	$ (1,941)
Adjustment to reconcile net loss to net cash from operating activities:
Depreciation and amortization	417	207	213
Stock-based compensation	30,642	6,300	1,967
Fair value adjustment of warrants for preferred shares		168	2,740
Realized loss on sale of short-term investment	100
Changes in operating assets and liabilities:
Decrease (increase) in inventory	316	(211)	(105)
Decrease (increase) in accounts receivable		83	(83)
Decrease (increase) in prepaid expenses and other current assets	318	(562)	739
Increase in accounts payable and accrued expenses	4,205	2,534	481
(Decrease) increase in deferred revenues	(650)	650
Increase in employee related accrued expenses	2,975	1,263	178
Net cash (used in) provided by operating activities	(37,334)	(9,568)	4,189
CASH FLOWS FROM INVESTING ACTIVITIES:
Short-term investments	35,901	(36,001)
Change in restricted deposit	(54)	(5)	(24)
Purchase of property and equipment	(560)	(271)	(695)
Net cash provided by (used in) investing activities	35,287	(36,277)	(719)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of options into ordinary shares	2,401	404
Proceeds from exercise of warrants for preferred shares		382	570
Payment of deferred equity offering cost			(579)
Issuance of ordinary shares, net of issuance expenses	64,235	60,841
Issuance cost for secondary offering	(215)	(42)
Net cash provided by (used in) financing activities	66,421	61,585	(9)
INCREASE IN CASH AND CASH EQUIVALENTS	64,374	15,740	3,461
CASH, CASH EQUIVALENTS AND RESTRICED CASH AT BEGINNING OF THE YEAR	37,197	21,457	17,996
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF THE YEAR	101,571	37,197	21,457
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Non-cash issuance cost	$ 102	202	$ 181
Exercise of warrants to preferred shares		$ 4,732

Business and Nature of Operations

12 Months Ended

Dec. 31, 2018

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Business and Nature of Operations

NOTE 1-BUSINESS AND NATURE OF OPERATIONS

Nature of Operations

UroGen Pharma Ltd. is an Israeli company incorporated in April 2004 (“UPL”).

UroGen Pharma Inc., a subsidiary of UPL, was incorporated in Delaware in October 2015 and began operating in February 2016 (“UPI”).

UPL and UPI (together the “Company”) is a clinical stage biopharmaceutical company focused on developing novel therapies designed to change the standard of care for urological pathologies.

As of the date of issuance of the consolidated financial statements, the Company has the ability to fund its planned operations for at least the next 12 months. However, the Company’s product candidates may never achieve commercialization and it will continue to incur losses for the foreseeable future. Therefore, in order to fund the Company’s research and development expenses, general and administrative expenses and capital expenditures until such time that the Company can generate substantial revenues, the Company may need to raise additional funds.

Basis of Presentation and Management Plans

12 Months Ended

Dec. 31, 2018

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Basis of Presentation and Management Plans

NOTE 2-BASIS OF PRESENTATION AND MANAGEMENT PLANS

The Company has not generated any revenue from the sale of products since its inception. The Company has experienced net losses since its inception and has an accumulated deficit of $122.9 million and $47.2 million as of December 31, 2018 and 2017, respectively. The Company expects to incur losses and have negative net cash flows from operating activities as it expands its portfolio and engages in further research and development activities, particularly conducting preclinical studies and clinical trials.

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States.

The success of the Company depends on its ability to develop its technologies to the point of U.S. Food and Drug Administration (“FDA”) approval and subsequent revenue generation or through the sale, merger, or other transfer of all or substantially all of the Company’s assets and, accordingly, to raise enough capital to finance these developmental efforts. In the future, management will need to raise additional capital to finance the continued operating and capital requirements of the Company. Any amounts raised will be used to further develop the Company’s technologies, acquire additional product licenses and for other working capital purposes. There can be no assurances that the Company will be able to secure such additional financing, or if available, that it will be sufficient to meet its needs. If the Company cannot obtain adequate working capital, it will be forced to reevaluate its planned business operations.

Significant Accounting Policies And Supplemental Financial Information

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES AND SUPPLEMENTAL FINANCIAL INFORMATION

NOTE 3-SIGNIFICANT ACCOUNTING POLICIES AND SUPPLEMENTAL FINANCIAL INFORMATION

Principles of Consolidation

The Company’s consolidated financial statements include the accounts of its subsidiary, UPI. Intercompany balances and transactions have been eliminated during consolidation.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. As applicable to these consolidated financial statements, the most significant estimates and assumptions relate to the fair value of share-based compensation, the fair value of the warrants for preferred shares and timing of revenue recognition.

Functional Currency

The U.S. dollar (“Dollar”) is the currency of the primary economic environment in which the operations of the Company and subsidiary are conducted. Therefore, the functional currency of the Company is the Dollar.

Accordingly, transactions in currencies other than the Dollar are measured and recorded in the functional currency using the exchange rate in effect at the date of the transaction. At the balance sheet date, monetary assets and liabilities that are denominated in currencies other than the Dollar are measured using the official exchange rate at the balance sheet date. The effects of foreign currency re-measurements are recorded in the consolidated statements of operations as “financial (income) expenses.”

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents consist primarily of money market funds and bank money market accounts and are stated at cost, which approximates fair value.

Short-Term Investments

The Company from time to time invests in short-term investments that consist of mutual and bond funds. While these investments are considered highly liquid and available to fund current operations, there is more than an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal and are therefore classified as short-term investments.

We classify our short-term investments as available-for-sale in accordance with FASB ASC Topic 320, “Investments — Debt and Equity Securities”. Available-for-sale securities are carried at fair value with unrealized gains and losses reported in other comprehensive income/loss within shareholders’ equity. The change in value for the year ended December 31, 2018 was $0.1 million.

Short-term investments are valued using models or other valuation methodologies that use Level 2 inputs. These models are primarily industry-standard models that consider various assumptions, including time value, yield curve, volatility factors, default rates, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace.

Concentration of Credit Risk

Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist primarily of cash and cash equivalents and marketable securities. The primary objectives for the Company’s investment portfolio are the preservation of capital and the maintenance of liquidity. The Company does not enter into any investment transaction for trading or speculative purposes.

The Company’s investment policy limits investments to certain types of instruments such as certificates of deposit, money market instruments, obligations issued by the U.S. government and U.S. government agencies as well as corporate debt securities, and places restrictions on maturities and concentration by type and issuer. The Company maintains cash balances in excess of amounts insured by the FDIC and concentrated within a limited number of financial institutions. The accounts are monitored by management to mitigate the risk.

Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash and cash equivalents and short-term investments. The Company deposits cash and cash equivalents with highly rated financial institutions, and, as a matter of policy, limits the amounts of credit exposure to any single financial institution. The Company has not experienced any credit losses in these accounts and does not believe it is exposed to significant credit risk on these instruments.

Income Taxes

The Company provides for income taxes based on pretax income, if any, and applicable tax rates available in the various jurisdictions in which we operate. Deferred taxes are computed using the asset and liability method. Under the asset and liability method, deferred income tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and are measured using the currently enacted tax rates and laws. A valuation allowance is recognized to the extent that it is more likely than not that the deferred taxes will not be realized in the foreseeable future.

The Company follows a two-step approach in recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the available evidence indicates that it is more likely than not that the position will be sustained upon examination by the taxing authorities based on the technical merits of the position. If this threshold is met, the second step is to measure the tax benefit as the largest amount that is more likely than not of being realized upon ultimate settlement. As of December 31, 2018 and 2017, the Company had not accrued a provision for uncertain tax positions. See Note 10 for further discussion related to income taxes.

Property and Equipment

Property and equipment is recorded at historical cost, net of accumulated depreciation, amortization and, if applicable, impairment charges. We review our property and equipment assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.

Annual rates of depreciation are as follows:

	%
Computers and software		33
Laboratory equipment	15-30
Furniture	6-15
Manufacturing equipment		50

Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or lease terms. See Note 5 for further discussion regarding property and equipment.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following as of December 31, 2018 and 2017, respectively (in thousands):

	December 31, 2018		December 31, 2017
Accounts payable	$	4,272	$	2,839
Accrued clinical expenses		673		384
Accrued research and development costs		780		233
Accrued general and administrative expenses		1,029		239
Accrued other expense		1,786		740
Total accrued expenses and other current liabilities	$	8,540	$	4,435

Revenues

The Company derives virtually all of its revenues from its license and supply agreement with Allergan. Under the agreement, the Company grants Allergan an exclusive license to develop, commercialize, and otherwise exploit products that contain RTGel and agrees to supply Allergan with pre-clinical and clinical quantities of the RTGel product, also referred to as the RTGelvials. The license agreement contains up-front license fees, future supply fees, development, regulatory, and sales-based milestone payments, and sales-based royalty payments.

The Company determined that Allergan is its customer and the license and supply agreements are in scope of ASC 606, which was adopted as of January 1, 2018. The Company adopted ASC 606 under the modified retrospective method, which did not have a material impact on the Consolidated Statements of Operations. Previously, we analyzed revenues under ASC 605, which states that revenue is recognized only when all of the following conditions have been met: (i) there is persuasive evidence of an arrangement; (ii) delivery has occurred: (iii) the fee is fixed or determinable: and (iv) collectability of the fee is reasonably assured. The adoption of ASC 606 did not have a material impact on the timing and manner of recognized revenues.

Under ASC 606,

in determining the appropriate amount of revenue to be recognized as it fulfills its obligations under the agreements with Allergan, the Company performs the following steps:

Identification of the contract;

Determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract;

Measurement of the transaction price, including the constraint on variable consideration;

Allocation of the transaction price to the performance obligations;

Recognition of revenue when or as the Company satisfies each performance obligation.

The license agreement contains two performance obligations: (a) the license component and (b) Allergan’s right to require supply services of RTGel vials from the Company. The license component has standalone value (and therefore is accounted for separately from the supply services) since Allergan can use the license for its intended purposes without the Company’s supply services.

In an arrangement with multiple goods and services, a good or service that is promised to a customer shall be considered a separate performance obligation if all of the following criteria are met:

The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer (that is, the good or service is capable of being distinct); and

The entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract (that is, the promise to transfer the good or service is distinct within the context of the contract).

Allocating the Consideration in the Arrangement

Since the license to the Company’s intellectual property was determined to be functional and distinct from the other performance obligations identified in the arrangement, the Company recognized revenues from non-refundable, up-front fees allocated to the license when the license was transferred to Allergan and Allergan was able to use and benefit from the license. During the year ended December 31, 2016, the Company received consideration in an amount of $17.5 million for both the license of the intellectual property as well as Allergan’s right to future supply services (which would be provided in consideration for future payments to the Company according to the pricing stipulated in the supply agreement). The Company determined that the pricing of the supply services represented their standalone selling price. Accordingly, the Company allocated the entire upfront fee of $17.5 million to the license performance obligation.

Development and Regulatory Milestone Payments

At the inception of an arrangement that includes development milestone payments, the Company evaluates whether the development milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated development milestone value is included in the transaction price. Development milestone payments that are not within the control of the Company or the licensee, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The milestones are allocated entirely to the license performance obligation, as (1) the terms of milestone and royalty payments relate specifically to the license and (2) allocating milestones and royalties to the license performance obligation is consistent with the overall allocation objective, because management’s estimate of the supply fee approximates the standalone selling price for RTGel vials and management’s estimate of milestones and royalties approximates the standalone selling price of the license. During the year ended December 31, 2017, the Company recognized revenue of $7.5 million related to a development milestone payment resulting from Allergan’s submission of an IND application for the Company’s RTGel in combination with Allergan’s BOTOX for the treatment of overactive bladder to the U.S. FDA.

Royalties Based on Allergan’s Revenue

We are

also entitled to royalties based on Allergan’s revenue from its product, however, these amounts would only be recognized when the conditions are met.

Supply of RTGel to Allergan

The Company recognizes revenue related to supply of RTGel at a point in time, upon delivery to Allergan. During the years ended December 31, 2018 and 2017, the Company recognized $1.1 million and $0.7 million of revenue related to RTGel vials supplied to Allergan, respectively. There were no material RTGel vial sales during the year ended December 31, 2016.

Shipping and handling costs associated with supply of RTGel vials are accounted for as a fulfillment cost and are in included in cost of revenues.

General and Administrative Expenses

General and administrative expenses consist primarily of salaries and other related costs, including share-based compensation, for personnel in executive, finance, accounting, legal, investor relations, facilities, business development and human resources functions. Other significant costs include facility costs not otherwise included in research and development expenses, legal fees relating to corporate matters, insurance, public company expenses relating to maintaining compliance with Nasdaq listing rules and SEC requirements, insurance and investor relations costs, and fees for accounting and consulting services. General and administrative costs are expensed as incurred, and the Company accrues for services provided by third parties related to the above expenses by monitoring the status of services provided and receiving estimates from its service providers, and adjusting its accruals as actual costs become known.

Research and Development

Research and development costs are expensed as incurred and consist primarily of the cost of salaries, share-based compensation expenses, payroll taxes and other employee benefits, subcontractors and materials used for research and development activities, including preclinical studies, clinical trials, manufacturing costs and professional services. The costs of services performed by others in connection with the research and development activities of an entity, including research and development conducted by others on behalf of the entity, shall be included in research and development costs and expensed as the contracted work is performed. The Company accrues for costs incurred as the services are being provided by monitoring the status of the trial or project and the invoices received from its external service providers. The Company adjusts its accrual as actual costs become known. Where contingent milestone payments are due to third parties under research and development arrangements or license agreements, the milestone payment obligations are expensed when the milestone results are achieved.

Grants received from the Israel Innovation Authority, f/k/a the Office of the Chief Scientist of Israel’s Ministry of Industry, Trade and Labor (the “IIA”) are recognized when the grant becomes receivable, provided there is reasonable assurance that the Company will comply with the conditions attached to the grant and there is reasonable assurance the grant will be received. The grant is deducted from the research and development expenses as the applicable costs are incurred. In the year ended December 31, 2016, the Company had an increase of $0.2 million to its research and development expenses as a result of its decision not to pursue one of its research programs that had been approved as a result of other financing opportunities. For the year ended December 31, 2016 an amount of $0.1 million was received from Allergan, in connection with the pre-clinical collaboration agreement signed in August 2015 and deducted from the research and development expenses.

The costs of intangibles that are purchased from others for a particular research and development project and that have no alternative future uses (in other research and development projects or otherwise) and therefore no separate economic values are research and development costs at the time the costs are incurred.

Share-Based Compensation

Share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the required service period, which is equal to the vesting period. The fair value of stock options is determined using the Black-Scholes option-pricing model. The fair value of a restricted stock unit equaled the closing price of our ordinary shares on the grant date.

As of December 31, 2016, the Company has early adopted the policy to account for forfeitures as they occur according to the FASB’s Accounting Standards Update (ASU) 2016-09, Improvements to Employee Share-Based Payment Accounting.

The Company elected to recognize compensation costs for awards conditioned only on continued service that have a graded vesting schedule using the straight-line method and to value the awards based on the single-option award approach.

Equity awards granted to non-employees are re-measured at each reporting period at fair value until the commitment date had been reached which is usually the date the service is completed. The fair value of equity awards is charged to the statement of operations over the service period using the straight-line method.

Finance (Income) Expense

	Year Ended December 31,
	2018			2017			2016
Changes in fair value of warrants for preferred shares	$	—		$	168		$	2,740
Interest income on cash and cash equivalents		(1,872	)		(125	)		(1	)
Realized loss on sale of short-term investment		100			—			—
Other finance expenses		124			(12	)		—
Total finance (income) expense	$	(1,648	)	$	31		$	2,739

Net Loss per Common Share

Basic net loss per share is computed by dividing the net loss attributable to common shareholders by the weighted-average number of common shares outstanding. Diluted net loss per share is computed similarly to basic net loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. In addition, the net loss attributable to common shareholders is adjusted for Series A and A-1 Preferred Stock dividends for the periods in which Series A and A-1 Preferred Stock is outstanding.

For all periods presented, potentially dilutive securities are excluded from the computation of fully diluted loss per share as their effect is anti-dilutive.

The following table summarizes the calculation of basic and diluted loss per common share for the periods presented (in thousands, except share and per share amounts):

	Year Ended December 31,
	2018		2017		2016
Basic and diluted:
Loss attributable to equity holders of the Company	$	75,657	$	20,000	$	1,941
Dividend accumulated for preferred shares during the period	$	—	$	825	$	2,467
Loss attributable to equity holders of the Company, after deducting dividend accumulated for preferred shares	$	75,657	$	20,825	$	4,408
Weighted-average number of ordinary shares		15,754,193		9,716,790		2,305,503
Loss per ordinary share	$	4.80	$	2.14	$	1.91

Recent Accounting Pronouncements

In June 2018, the FASB issued ASU 2018-07, "Compensation-Stock Compensation" (“Topic 718” or “ASU 2018-07”) to improve the usefulness of information provided to users of financial statements while reducing cost and complexity in financial reporting and provide guidance aligning the measurement and classification for share-based payments to nonemployees with the guidance for share-based payments to employees. Under the guidance, the measurement of equity-classified nonemployee awards will be fixed at the grant date. This standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those annual periods. Early adoption is permitted, but no earlier than an entity's adoption date of Topic 606. The adoption of ASU 2018-07 will not have an impact on the Company’s Consolidated Statements of Operations.

In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, “Leases” (“Topic 842”). Topic 842 supersedes existing guidance in Leases (“Topic 840”). Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. Topic 842 requires lessees to recognize right-of-use (“ROU”) assets and lease liabilities on the balance sheet for leases with lease terms greater than twelve months, including those classified as operating leases. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. The lease liability will be measured at the present value of the unpaid lease payments and the ROU asset will be derived from the calculation of the lease liability. Lease payments will include fixed and in-substance fixed payments, variable payments based on an index or rate, exercise price of purchase options that are reasonably certain to be exercised, termination penalties, and probable amounts the lessee will owe under a residual value guarantee. Topic 842 also requires lessees to disclose key information about leasing arrangements. Lessor accounting will remain largely unchanged. The guidance is effective for annual periods beginning after December 15, 2018, with early adoption permitted.

The Company will apply the modified retrospective transition method and elect the transition option to use the effective date of January 1, 2019 as the date of initial application (“Transition Date”). Consequently, financial information will not be updated, and the disclosures required under the Topic 842 will not be provided for dates and periods before January 1, 2019.

Topic 842 provides a number of optional practical expedients in transition. The Company expects to elect the ‘package of practical expedients’, which permits not to reassess under Topic 842 its prior conclusions about lease identification, lease classification, and initial direct costs. The Company does not expect to elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter not being applicable to the Company. As a result, the Company will in effect, continue to account for existing leases – i.e. leases for which the commencement date is before January 1, 2019 – in accordance with Topic 840 throughout the entire lease term, including periods after the effective date, with the exception that the Company will apply the new balance sheet recognition guidance for operating leases and apply Topic 842 for remeasurements and modifications after the Transition Date.

While continuing to assess all the effects of adoption, the Company expects that Topic 842 will have a material effect on its financial statements. On adoption, the Company currently expects to recognize additional operating lease liabilities of approximately $3.5 million, with corresponding ROU asset for existing operating leases. The Company does not expect a material impact on its Consolidated Statements of Operations or its Consolidated Statements of Cash Flows.

Fair Value Measurements and Investments in Marketable Securities

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements and Investments in Marketable Securities

NOTE 4-FAIR VALUE MEASUREMENTS AND INVESTMENTS IN MARKETABLE SECURITIES

The Company follows authoritative accounting guidance, which among other things, defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring or nonrecurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability.

As a basis for considering such assumptions, a three-tier fair value hierarchy has been established, which prioritizes the inputs used in measuring fair value as follows:

Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.

Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions.

The carrying amounts of the Company’s other current assets, accounts payable and accrued liabilities are generally considered to be representative of their fair value because of the short-term nature of these instruments. No transfers between levels have occurred during the periods presented.

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of December 31, 2018 are as follows (in thousands):

Fair Value Measurements Using

Quoted Prices

Significant

in Active

Other

Significant

Balance as of

Markets for

Observable

Unobservable

December 31,

Identical Assets

Inputs

2018

(Level 1)

(Level 2)

(Level 3)

Assets:

Money market funds⁽¹⁾

89,965

—

⁽¹⁾	Included within cash and cash equivalents on the Company’s consolidated balance sheets.

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of December 31, 2017 are as follows (in thousands):

Fair Value Measurements Using

Quoted Prices

Significant

in Active

Other

Significant

Balance as of

Markets for

Observable

Unobservable

December 31,

Identical Assets

Inputs

2017

(Level 1)

(Level 2)

(Level 3)

Assets:

Money market funds⁽¹⁾

26,127

—

Short-term investments

36,001

—

36,001

—

⁽¹⁾	Included within cash and cash equivalents on the Company’s consolidated balance sheets.

The Company’s investments in money market funds are valued based on publicly available quoted market prices for identical securities as of December 31, 2018 and 2017.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property and Equipment

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Property and Equipment

NOTE 5-PROPERTY AND EQUIPMENT

Property and equipment, consists of the following as of December 31, 2018 and 2017 (in thousands):

	December 31,
	2018			2017
Laboratory equipment	$	241		$	223
Computer equipment and software		271			167
Furniture		395			234
Leasehold improvements		561			531
Manufacturing equipment		227			227
		1,695			1,382
Less: accumulated depreciation and amortization		(747	)		(577	)
Property and equipment, net	$	948		$	805

Depreciation and amortization expense was $0.4 million $0.2 million and $0.2 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Allergan License Agreement

12 Months Ended

Dec. 31, 2018

Liscense Agreement [Abstract]

Allergan License Agreement

NOTE 6-ALLERGAN LICENSE AGREEMENT

In October 2016, the Company entered into the Allergan Agreement with Allergan and granted Allergan an exclusive worldwide license to research, develop, manufacture and commercialize pharmaceutical products that contain RTGel and clostridial toxins (including BOTOX), alone or in combination with certain other active ingredients, referred to as the Licensed Products, which are approved for the treatment of adults with overactive bladder who cannot use or do not adequately respond to anticholinergics. Additionally, the Company granted Allergan a non-exclusive, worldwide license to use certain of our trademarks as required for Allergan to practice its exclusive license with respect to the Licensed Products.

Under the Allergan Agreement, Allergan is solely responsible, at its expense, for developing the Licensed Products and obtaining all regulatory approvals for Licensed Products worldwide. Allergan is also solely responsible, at its expense, for commercializing the Licensed Products worldwide after receiving the regulatory approval to do so. Allergan is required to use commercially reasonable efforts to develop and commercialize the Licensed Products for overactive bladder in certain major market countries.

The Company will supply Allergan with certain quantities of RTGel for development of Licensed Products through Phase 2 clinical trials using BOTOX together with RTGel in patients with overactive bladder, at Allergan’s request and expense. Allergan has the right to reduce the next milestone payment to us if there is a material supply failure from us. Prior to completion of the first Phase 2 clinical trial, Allergan has the right to request that the Company transfers to Allergan our manufacturing process for RTGel and Allergan will assume the responsibility to manufacture RTGel and Licensed Product for its own development and commercialization activities.

Allergan paid the Company a nonrefundable upfront license fee of $17.5 million upon signing the agreement, and, in the third quarter of 2017, the Company received an additional $7.5 million milestone payment upon the submission by Allergan of an IND to the FDA for a Licensed Product. In October 2017, Allergan began a Phase 2 study of RTGel in combination with BOTOX for the treatment of overactive bladder. Additionally, during the years ended December 31, 2018 and 2017 the Company recognized revenue of $1.1 million and $0.7 million related to RTGel that was supplied to Allergan, respectively.

Further, the Company is eligible to receive additional material milestone payments of up to an aggregate of $200.0 million upon the successful completion of certain development, regulatory and commercial milestones, including $20.0 million upon initiation of a Phase 3 clinical trial for a Licensed Product for overactive bladder; $15.0 million upon initiation of a Phase 3 clinical trial for a Licensed Product for a specified second indication; $50.0 million and $25.0 million upon the first commercial sale of a Licensed Product for overactive bladder in the United States and the European Union, respectively; $25.0 million and $15.0 million upon the first commercial sale of a Licensed Product for a specified second indication in the United States and the European Union, respectively; and $50.0 million upon net sales of all Licensed Products of $500.0 million. Allergan will pay the Company a tiered royalty in the low single digits based on worldwide annual net sales of Licensed Products, subject to certain reductions for the market entry of competing products and/or loss of our patent coverage of Licensed Products. The Company is responsible for payments to any third party for certain RTGel-related third party intellectual properties.

Under the Allergan Agreement, Allergan granted the Company a non-exclusive, sublicensable, fully paid-up, perpetual, worldwide license under any improvements Allergan makes to the composition, formulation, or manufacture of RTGel for the research, development, manufacture and commercialization of any product containing RTGel and any active ingredient (other than a clostridial toxin) for all indications other than indications covered by the agreement and an exclusive, sublicensable, royalty-bearing (in low single digits), perpetual worldwide license under such improvements for use in the prevention or treatment of oncology indications.

The Company plans to continue to research, develop and commercialize other products combining RTGel with other active ingredients, except that there are certain restrictions with respect to the overactive bladder and neurogenic detrusor overactivity indications. Neurogenic detrusor overactivity is when a known neurologic abnormality impairs the signaling systems between the bladder and the central nervous system, and the brain is unable to inhibit the detrusor muscles controlling urination.

Either party may terminate the Allergan Agreement for uncured material breach by the other party and for the insolvency of the other party. The Company may terminate the Allergan Agreement if Allergan or its affiliates challenges any of our patents licensed to Allergan and such patent challenge is not required under a court order or subpoena and is not a defense against a claim, action or proceeding asserted by the Company, its affiliates or licensees against Allergan, its affiliates or sublicensees. In addition, Allergan may unilaterally terminate the Allergan Agreement for any reason upon advance notice. If Allergan has the right to terminate the Allergan Agreement due to an uncured material breach by the Company, Allergan may elect to continue the agreement and reduce all future milestone and royalty payment obligations to us by a specified percentage. In the event of any termination of the Allergan Agreement, Allergan will assign or grant a right of reference to any regulatory documentation related to RTGel to the Company, all rights and licenses to Allergan will terminate, and the license Allergan granted to us under their improvements to RTGel will continue.

Employee Rights Upon Retirement

12 Months Ended

Dec. 31, 2018

Employee Rights Upon Retirement [Abstract]

Employee Rights Upon Retirement

NOTE 7-EMPLOYEE RIGHTS UPON RETIREMENT

The Company is required by law to make severance payments upon dismissal of an employee or upon termination of employment in certain other circumstances.

The Company operates a number of post-employment defined contribution plans. A defined contribution plan is a program that benefits an employee after termination of employment, under which the Company regularly makes fixed payments to a separate and independent entity so that the Company has no legal or constructive obligation to pay additional contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. The fund assets are not included in the Company’s financial position.

The Company operates pension and severance compensation plans subject to Section 14 of the Israeli Severance Pay Law, 5723-1963. The plans are funded through payments to insurance companies or pension funds administered by trustees. In accordance with its terms, the plans meet the definition of a defined contribution plan, as defined above.

Shareholders’ Equity

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Shareholders' Equity

NOTE 8-SHAREHOLDERS’ EQUITY

Ordinary Shares

The Company had 100.0 million ordinary shares authorized for issuance as of December 31, 2018 and 2017, respectively. The Company had 16.2 million and 13.8 million ordinary shares issued and outstanding as of December 31, 2018 and 2017, respectively. Each ordinary share is entitled to one vote. The holders of ordinary shares are also entitled to receive dividends whenever funds are legally available, when and if declared by the Board of Directors. Since its inception, the Company has not declared any dividends.

In May 2017, the Company completed an IPO on the Nasdaq Global Market, in which it issued 5,144,378 ordinary shares, at a public offering price of $13.00 per share, in consideration for $60.8 million, net of underwriting discounts and commissions and issuance costs, including exercise of the underwriters’ option to purchase additional 671,005 ordinary shares at the IPO price.

Upon completion of the IPO, the Company converted all outstanding warrants for Preferred A-1 shares into 364,036 Preferred A-1 shares of the Company (see below). Subsequently, the Company converted all outstanding Preferred A and Preferred A-1 shares into ordinary shares at a ratio of 1:1. As of December 31, 2017, the Company’s share capital was composed entirely of ordinary shares.

In January 2018, the Company completed an underwritten public offering of 1,682,926 of its ordinary shares, including 219,512 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of $41.00 per share. The net proceeds to the Company from the public offering were approximately $64.2 million, after deducting the underwriting discounts and commissions and payment of other offering expenses.

See Note 13 for further discussion regarding an underwritten public offering of ordinary shares that the Company completed in January 2019.

Warrants for Preferred A-1 Shares

In 2014, as part of a share purchase agreement, the Company issued warrants (the “A-1 warrants”) for preferred shares. The warrants were exercisable for Series A-1 preferred shares, in consideration for cash representing the exercise price. The A-1 warrants were measured at fair value in every reporting period, and changes in their fair value were recognized in earnings within finance expenses, net.

In connection with the completion of the IPO, the Company converted all outstanding warrants into 364,036 Preferred A-1 shares of the Company and subsequently converted all of its preferred shares, including the Preferred A-1 shares, into ordinary shares.

The Company’s warrants outstanding prior to the IPO were exercisable for Series A-1 preferred shares at an exercise price of $7.81 per share. Prior to the IPO, such warrants were exercisable for 728,312 Preferred A-1 shares.

Series A Preferred Shares

In October 2015 the Company entered into an asset purchase agreement with Telormedix SA (“TMX”) pursuant to which the Company purchased all of the intellectual property assets of TMX (in process R&D) in consideration for 691,200 Series A preferred shares of the Company at a price per share of $5.94, which were subsequently converted into ordinary shares on the date of the IPO. The Company will issue additional shares upon the occurrence of each of three milestones as set in the agreement. The Company has deemed the probability of achieving these milestones to be remote. The acquired intellectual property costs totaling $4.1 million were expensed as incurred to research and development costs in accordance with ASC 730, as the intellectual property is purchased from others for a particular research and development project and has no alternative future uses and therefore no separate economic value.

On April 19, 2017, the Company’s board of directors and shareholders approved an aggregate 3.2 for-1 share split of the Company’s ordinary, Preferred A and Preferred A-1 shares. The share split was effected on April 19, 2017 by the issuance of 2.2 ordinary shares for each outstanding ordinary, Preferred A and Preferred A-1 share held immediately prior to the share split.

Upon the completion of the IPO, all Series A preferred shares converted to ordinary shares on a 1:1 ratio. Prior to the IPO, the Series A preferred shares were classified within permanent equity as they were not subject to liability classification under the scope of ASC 480, and meet all the requirements of equity classification under ASC 480-10-S99.

Share-Based Compensation

12 Months Ended

Dec. 31, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

NOTE 9-SHARE-BASED COMPENSATION

In October 2010, the Company’s Board of Directors approved a share option plan (the “Plan”) for grants to Company employees, consultants, directors, and other service providers.

The grant of options to Israeli employees under the Plan is subject to the terms stipulated by Section 102 of the Israeli Income Tax Ordinance (“Section 102”). The option grants are subject to the track chosen by the Company, either the “regular income” track or the “capital gains” track, as set out in Section 102. The Company registered the Plan under the capital gains track, which offers more favorable tax rates to the employees. As a result, and pursuant to the terms of Section 102, the Company is not allowed to claim as an expense for tax purposes the amounts credited to the employees in respect of options granted to them under the Plan, including amounts recorded as salary benefits in the Company’s accounts, with the exception of the work-income benefit component, if any, determined on grant date. For non-employees and for non-Israeli employees, the Plan is subject to Section 3(i) of the Israeli Income Tax Ordinance.

Certain management and professional level employees typically receive stock options and RSU grants upon commencement of employment. Eligible employees may also receive a grant of stock options or RSUs annually. Non-employee members of our Board of Directors and any new, future directors may receive a grant of RSUs and/or stock options annually. The term of any stock option granted under the Plan cannot exceed 10 years. Options shall not have an exercise price less than 100% of the fair market value of the Company’s ordinary shares on the grant date, and generally vest over a period of three years. If the individual possesses more than 10% of the combined voting power of all classes of stock of the Company, the exercise price shall not be less than 110% of the fair market value of a common share of stock on the date of grant.

The Company’s RSU and stock option grants provide for accelerated or continued vesting in certain circumstances as defined in the plans and related grant agreements, including a termination in connection with a change in control. RSUs generally vest in a 33% increment upon the first anniversary of grant, and in equal quarterly amounts for the two years following the one-year anniversary of the grant date. Stock options generally vest in a 33% increment upon the first anniversary of the grant date, and in equal quarterly amounts for the three years following the one-year anniversary of the grant date.

The expected volatility is based on the historical volatility of comparable companies with similar attributes to the Company, including industry, stage of life cycle, size and financial leverage. The risk-free interest rate assumption is based on observed interest rates appropriate for the expected term of the options granted. The expected term is the length of time until the expected dates of exercising the options and is estimated for employees using the simplified method due to insufficient specific historical information of employees’ exercise behavior, and for non-employees, and directors using the contractual term.

In March 2017, the Company’s Board of Directors adopted the 2017 Equity Incentive Plan ("2017 Plan"), which was approved by the shareholders in April 2017. The 2017 Plan provides for the grant of incentive stock options to the Company's employees and for the grant of nonstatutory stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance stock awards, performance cash awards, and other forms of stock awards to the Company's employees, directors and consultants.

The maximum number of ordinary shares that may initially be issued under the 2017 Plan is 1,400,000. In addition, the number of ordinary shares reserved for issuance under the 2017 Plan will automatically increase on January 1st of each calendar year, from January 1, 2018 through January 1, 2026, so that the number of such shares reserved for issuance will equal 12% of the total number of ordinary shares outstanding on the last day of the calendar month prior to the date of each automatic increase, or a lesser number of shares determined by our board of directors. The maximum number of ordinary shares that may be issued upon the exercise of incentive stock options under the 2017 Plan is 5,600,000. On January 1, 2018, the share reserve increased by 250,167 to 1,650,167. On October 12, 2018, the Company filed a registration statement on Form S-8 increasing the amount of registered ordinary shares of the Company’s 2017 Plan by 1,900,000 to 3,550,167.

In April 2017, the Company’s board of directors approved modifications of performance conditions for 67,200 restricted stock units and contingent options for executive management. The Company recorded an expense of $0.5 million under general and administrative expenses with respect to these modifications.

During the year ended December 31, 2018, the Company recorded $7.2 million in general and administrative and research and development expenses in the Company’s Statements of Operations for the year ended December 31, 2018 related to the stock option modifications related to the termination of certain senior executives, based on the executive’s respective allocations.

On January 2, 2019, the Company announced the resignation of its CEO, and the Company's board of directors approved a severance package, which included a combination of cash and modifications to grants of his related option awards in the amount of $3.4 million. The cash element followed the termination section in the CEO employment agreement, and the options element included acceleration to certain grants of his related option awards. The fair value of the modifications to these option awards was estimated at $2.8 million. The entire severance package was recorded in general and administrative and research and development expenses, based on salary allocations respectively, in the Company’s Statements of Operations for the year ended December 31, 2018.

In August 2018, in addition to the modifications, one senior executive was granted 10,466 RSUs in which no compensation expense was taken because the award vests upon a future performance condition that is not currently probable of occurring.

For the years ended December 31, 2018 and 2017, the Company granted options to certain employees and non-employees as follows:

Options granted to employees and directors:

Set forth below are grants made by the Company to employees and directors as of December 31, 2018. The majority of options vest over three years and expire on the tenth anniversary of the date of grant.

During 2018, the Company granted 1,155,000 options to employees and directors with exercise prices ranging from $38.64 to $59.23 per share.

During 2017, the Company granted 589,600 options to employees and directors with exercise prices ranging from $1.78 to $39.26 per share.

During 2016, the Company granted 404,813 options to employees and directors with exercise prices ranging from $5 to $5.94 per share.

The fair value of options granted to employees and directors during 2018, 2017 and 2016 was $39.3 million, $10.9 million and $0.9 million, respectively.

The total unrecognized compensation cost of employee and director options at December 31, 2018 is $26.5 million, which is expected to be recognized over a weighted average period of 2.2 years.

The fair value of options granted to employees and directors was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows:

	2018	2017	2016
Value of ordinary shares	$38.64-59.23	$13.00-39.26	$2.98-5.54
Dividend yield	0%	0%	0%
Expected volatility	72.59%-79.37%	71.53%-76.32%	74.8%-80%
Risk-free interest rate	2.30%-3.07%	1.85%-2.47%	1.4%–2.13%
Expected term	5.4-10 years	5.5-10 years	7 years

Options granted to consultants and other service providers:

Set forth below are grants made by the Company to consultants and service providers as of December 31, 2018. The majority of the options vest over a period of three years and expire on the seventh anniversary of the date of grant.

During 2018, the Company granted 40,000 options to consultants and service providers with exercise prices ranging from $43.67 to $59.23 per share.

During 2017, there were no new grants issued to consultants and service providers.

During 2016, the Company granted 132,032 options to consultants and service providers with exercise prices ranging from $0 to $5.94 per share.

The fair value as of December 31, 2018, 2017 and 2016 of options granted to consultants and service providers during 2018, 2017 and 2016 was $1.0 million, $0 and $0.7 million, respectively.

The fair value of options granted to consultants and other service providers was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows:

	2018	2017	2016
Value of ordinary shares	$43.06-49.69	$1.58-37.21	$1.58-7.96
Dividend yield	0%	0%	0%
Expected volatility	72.00%-82.04%	68.45%-74.50%	72.72%-80%
Risk-free interest rate	1.72%-2.98%	1.38%-2.26%	1.56%-2.27%
Expected term	0.2-9.5 years	3.9-5.9 years	5.8-8.5 years

The following table summarizes the number of options outstanding under the Plan for the years ended December 31, 2018, 2017 and 2016, and related information:

	Employees and Directors						Consultants and Service providers
	Number of options				Weighted Average price per share		Number of options			Weighted Average price per share
Outstanding as of January 1, 2016		1,411,400			$	4.70		513,238		$	3.48
Granted		404,813			$	5.50		132,032		$	7.15
Canceled/Forfeited		(60,800	)		$	5.94		(6,000	)	$	1.58
Exercised		—			$	—		(4,784	)	$	2.45
Outstanding as of December 31, 2016		1,755,413			$	4.84		634,486		$	4.27
Granted		589,600		*	$	23.95		—		$	—
Canceled/Forfeited		(39,500	)		$	5.77		(5,686	)	$	2.93
Exercised		(560,243	)		$	4.39		(130,038	)	$	2.92
Outstanding as of December 31, 2017		1,745,270			$	11.42		498,762		$	4.64
Granted		1,155,000			$	47.18		40,000		$	47.56
Canceled/Forfeited		(153,313	)		$	35.19		(13,836	)	$	37.38
Exercised		(659,434	)		$	9.37		(89,468	)	$	6.20
Outstanding as of December 31, 2018		2,087,523			$	30.11		435,458		$	7.22

*	Including 9,600 ordinary shares issuable upon the vesting of options granted in 2016, which were contingent upon the closing of the IPO

The intrinsic value of stock options exercised by employees and directors was $27.5 million, $17.9 million, and $0 for the years ended December 31, 2018, 2017, and 2016, respectively. The intrinsic value of stock options exercised by consultants and service providers was $4.1 million, $3.5 million, and $0.01 million for the years ended December 31, 2018, 2017, and 2016, respectively.

The following table summarizes the outstanding and exercisable options as of December 31, 2018:

	Options outstanding				Options exercisable
Exercise price per share	Number of options outstanding at end of year		Weighted average remaining contractual life		Number of options exercisable at end of year		Weighted average remaining contractual life
$0.00 - 10.00		1,023,791		3.38		814,479		3.20
$10.01 - 20.00		215,079		6.71		140,078		5.79
$20.01 - 30.00		100,000		8.82		33,334		8.82
$30.01 - 40.00		225,000		6.18		114,998		3.40
$40.01 - 50.00		742,111		8.80		157,720		6.90
$50.01 - 59.23		217,000		9.37		36,499		9.43
		2,522,981				1,297,108

The aggregate intrinsic value of the total vested and exercisable options and vested and not released restricted stock units as of December 31, 2018 is $38.9 million.

The following table summarizes information about RSU activity as of December 31, 2018:

	Outstanding Restricted Stock Units
Outstanding as of January 1, 2016		275,200
Granted		—
Vested and released		—
Forfeited		—
Outstanding as of December 31, 2016		275,200
Granted		123,300		*
Vested and released		(121,940	)
Forfeited		—
Outstanding as of December 31, 2017		276,560
Granted		116,493
Vested and released		(118,447	)
Forfeited		(10,907	)
Outstanding as of December 31, 2018		263,699

*	Including 28,800 ordinary shares issuable upon the vesting of options granted in 2016, which were contingent upon the closing of the IPO

The Company has not previously separately disclosed the table information shown above. The fair value of RSUs granted during 2018, 2017 and 2016 was $5.7 million, $3.3 million, and $0, respectively. The total unrecognized compensation cost of RSUs at December 31, 2018 is $5.2 million with a weighted average recognition period of 2.1 years.

The following table illustrates the effect of share-based compensation on the statements of operations:

	Year ended December 31,
	2018		2017		2016
Research and development expenses	$	12,038	$	3,923	$	1,167
General and administrative expenses		18,604		2,377		800
	$	30,642	$	6,300	$	1,967

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 10-INCOME TAXES

The Company is taxed under Israeli tax laws:

Corporate tax rate

Presented hereunder are the tax rates relevant to the Company in the years 2016-2018:

2016 – 25%

2017 – 24%

2018 – 23%

On January 4, 2016 the Knesset plenum passed the Law for the Amendment of the Income Tax Ordinance (Amendment 216) - 2016, by which, inter alia, the corporate tax rate would be reduced by 1.5% to a rate of 25% as from January 1, 2016.

Furthermore, on December 22, 2016 the Knesset plenum passed the Economic Efficiency Law (Legislative Amendments for Achieving Budget Objectives in the Years 2017 and 2018) – 2016, by which, inter alia, the corporate tax rate would be reduced from 25% to 23% in two steps. The first step will be to a rate of 24% as from January 2017 and the second step will be to a rate of 23% as from January 2018.

As a result of the reduction in the tax rate to 23% in two steps, the deferred tax balances as at December 31, 2018 were calculated according to the new tax rate specified in the Economic Efficiency Law (Legislative Amendments for Achieving Budget Objectives in the Years 2017 and 2018), at the tax rate expected to apply on the date of reversal.

Current taxes for the reported periods are calculated according to the tax rates presented above.

Income Tax Regulations (Rules on Bookkeeping by Foreign Invested Companies and Certain Partnerships and Determination of their Taxable Income), 1986:

As a "Controller Foreign Cooperation" (as defined in the Israeli Law for the Encouragement of Capital Investments-1959), the Company's management has elected to apply Income Tax Regulations (Rules for Maintaining Accounting Records of Foreign Invested Companies and Certain Partnerships and Determining Their Taxable Income) – 1986, from January 2018. Accordingly, its taxable income or loss is calculated in US Dollars.

Law for the Encouragement of Industry (Taxation), 1969:

The Company is an “Industrial Company” under the Law for the Encouragement of Industry (Taxation), 1969 and, therefore, is entitled to certain tax benefits, mainly are as follows:

•

Amortization in three equal annual portions of issuance expenses when registering shares for trading as from the date the shares of the company were registered.

•

An 8-year period of amortization for acquired patents and know-how used in the process of development performed by the enterprise.

Deferred income taxes:

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company and its subsidiary deferred tax assets are as follows:

	December 31,
	2018			2017			2016
In respect of:
Net operating loss carry forward	$	16,943		$	5,844		$	3,280
Deferred rent		61			46			—
Research and development expenses		3,891			2,887			—
Stock-based compensation		4,769			897			—
Issuance costs		1,367			1,261			—
In-process research and development		629			761			806
Accrued expenses		598			5			—
Depreciation of fixed assets		(93	)
Other		84			24			72
Less—valuation allowance		(28,249	)		(11,725	)		(4,158	)
Net deferred tax assets	$	—		$	—		$	—

The change in valuation allowance for the years ended December 31, 2018 and 2017 were as follows:

	2018			2017			2016
Balance at the beginning of the year	$	(11,725	)	$	(4,158	)	$	(4,499	)
Changes during the year		(16,524	)		(7,567	)		341
Balance at the end of the year	$	(28,249	)	$	(11,725	)	$	(4,158	)

The main reconciling item between the statutory tax rates of the Company and the effective rate is the share-based compensation and provision for full valuation allowance in respect of tax benefits from carryforward tax losses due to the uncertainty of the realization of such tax benefits.

Regarding the Company’s US operations, as of December 31, 2018, UPI had federal tax net operating losses of $1.5 million and state tax net operating losses of $1.7 million in several jurisdictions available to carry forward and reduce future income tax liabilities. The federal and state net operating losses begin to expire after 2036.

The Internal Revenue Code contains provisions that may limit the use of the net operating tax loss carryforward available if significant changes occur in the stock ownership of UPI. In the event UPI has had a change in ownership, utilization of the carry‑forwards could be restricted due to the “change in ownership provisions” under Section 382 of the Internal Revenue Code and similar state provisions. Such limitations could result in the expiration of the net operating carry‑forwards before their utilization.

Losses for tax purposes carried forward to future years

As of December 31, 2018, the Company had approximately $72.1 million of net carry forward tax losses available to reduce future taxable income without limitation of use.

Tax assessments

UPL has received final tax assessments up to and including 2013 tax year.

Related Parties

12 Months Ended

Dec. 31, 2018

Related Parties

NOTE 11-RELATED PARTIES

UPI entered into a lease agreement, dated as of November 2015 and commencing as of May 2016, for office space in New York. UPI shared the office space equitably with Kite Pharma, Inc., a Delaware corporation, which was a cosignatory to such lease agreement. Arie Belldegrun, M.D., UPL’s chairman, served as the Chairman and Chief Executive Officer of Kite Pharma, Inc. until his resignation effective as of October 3, 2017, in connection with the acquisition of Kite Pharma, Inc. by Gilead Sciences, Inc.

In April 2018, UPI terminated its lease for offices at 689 Fifth Avenue in New York, and on December 1, 2018, UPI and Kite Pharma, Inc., completed a full assignment and assumption of the lease to Allogene Therapeutics, Inc. of which Arie Belldegrun, M.D., serves as the Chairman of the Board of Directors.

UPI recorded a loss on disposal of fixed assets of $0.2 million for the year ended December 31, 2018, regarding accelerated depreciation on the leasehold improvements associated with the lease, and there is no further liability as of December 31, 2018.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 12-COMMITMENTS AND CONTINGENCIES

In the normal course of business, the Company enters into contracts that contain a variety of indemnifications with its employees, licensors, suppliers and service providers. Further, the Company indemnifies its directors and officers who are, or were, serving at the Company’s request in such capacities. The Company’s maximum exposure under these arrangements is unknown as of December 31, 2018 and 2017. The Company does not anticipate recognizing any significant losses relating to these arrangements.

Leases

In April 2016, UPL signed an addendum to its November 2014 lease agreement for the Company’s principal executive offices located in Israel, in order to increase the office space rented and to extend the rent period until 2019.

UPI entered into a lease agreement for its office for a period of seven years commencing on May 1, 2016. As part of the agreement UPI provided the lessor with a letter of credit which renews on an annual basis. On December 1, 2018 UPI completed a full assignment and assumption of the lease to Allogene Therapeutics, Inc. The letter of credit was returned and there is no further liability to UPI as of December 31, 2018.

In September 2017, UPI entered into a new lease agreement for its New York headquarters. The lease agreement commenced in October 2017 and shall terminate in February 2021. The remaining contractual obligation is approximately $1.5 million.

In April 2018, UPI entered into a new lease agreement for an office in Los Angeles, CA. The lease commencement date was July 10, 2018 and terminates in March 2024. The contractual obligation for the remainder of the lease is $1.4 million. The landlord provided a tenant allowance for leasehold improvements of $0.2 million that is accounted for as a lease incentive and is being amortized to rent expense ratably over the life of the lease.

Rent expense charged to operations was $1.2 million, $0.6 million, and $0.3 million for the years ended December 31, 2018, 2017 and 2016, respectively.

The following table summarizes our lease obligations at December 31, 2018 (in thousands):

YEARS ENDED DECEMBER 31,	Operating Lease
2019	$	1,136
2020		1,251
2021		676
2022		567
2023		301
2024 and thereafter		58
Total minimum lease payments	$	3,989

Grants from the IIA

The Company has received grants from the IIA for research and development funding. Up until 2007, the IIA participation in the funding of the Company’s operations was as part of the Director General Directive 8.2 of Israel by grants provided to Granot Ventures. Since 2008, the funding was provided directly to Company.

The Company is committed to pay royalties to the Government of Israel on proceeds from sales of products in the research and development of which the IIA participates by way of grants. At the time the grants were received, successful development of the related projects was not assured. In the case of failure of a project that was partly financed as above, the Company is not obligated to pay any such royalties. Under the terms of the funding from the IIA, royalties of 3% to 5% are payable on sales of products developed from a project so funded, up to 100% of the amount of the grant received by the Company (dollar linked); with the addition of annual interest at a rate based on 12-month LIBOR. The Company is subject to several conditions, including restrictions on its intellectual property.

As of December 31, 2018, the maximum royalty amount payable by the Company under these funding arrangements is $2.1 million (excluding interest, and inclusive of the $0.8 million in royalties that the Company has accrued as of December 31, 2018). Under the R&D Law, a company that received grants from the IIA may not transfer IIA-funded technology or manufacture products developed with IIA-funded technology outside of the State of Israel without first obtaining the approval of the IIA. We may be required to pay increased royalties of up to 300% of the amount of the original grant and other amounts; if we do not receive such approvals, we may be required to pay significant penalties. As of December 31, 2018, the Company has accrued $0.8 million in royalties due to the IIA, which has been recorded in cost of revenues in our results of operations for the year ended December 31, 2018.

Subsequent Events

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

NOTE 13-SUBSEQUENT EVENTS

In January 2019, the Company completed an underwritten public offering of 4,207,317 ordinary shares, including 548,780 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a price to the public of $41.00 per share. The net proceeds to the Company from the offering were approximately $161.8 million, after deducting the underwriting discounts and commissions and payment of other offering expenses.

On January 3, 2019, we appointed Elizabeth Barrett as our President and Chief Executive Officer, replacing Ron Bentsur in those capacities. Concurrently, Ms. Barrett was appointed as a member of our board of directors (the “Board”) and Mr. Bentsur resigned from the Board. In connection with Ms. Barrett’s employment, she was granted 277,432 options to purchase the Company’s ordinary shares, as well as 317,065 RSUs, with a combined fair value of $24.1 million.

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Data (Unaudited)

NOTE 14-SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for 2018 and 2017 are as follows (in thousands, except per share data):

	2018
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Total revenues	$	481		$	364		$	283		$	—		$	1,128
Total operating expenses	$	13,691		$	18,480		$	20,317		$	24,017		$	76,505
Loss from operations	$	(13,640	)	$	(18,434	)	$	(21,089	)	$	(24,017	)	$	(77,180	)
Net loss attributable to common shareholders	$	(13,382	)	$	(18,026	)	$	(20,533	)	$	(23,716	)	$	(75,657	)
Net loss per share attributable to common shareholders - basic and diluted	$	(0.88	)	$	(1.14	)	$	(1.28	)	$	(1.46	)	$	(4.80	)

	2017
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Total revenues	$	19		$	—		$	7,812		$	327		$	8,158
Total operating expenses	$	3,539		$	5,951		$	7,820		$	10,198		$	27,508
Loss from operations	$	(3,538	)	$	(5,951	)	$	(303	)	$	(10,158	)	$	(19,950	)
Net loss attributable to common shareholders	$	(3,417	)	$	(6,199	)	$	(298	)	$	(10,086	)	$	(20,000	)
Net loss per share attributable to common shareholders - basic and diluted	$	(1.74	)	$	(0.70	)	$	(0.02	)	$	(0.74	)	$	(2.14	)

Net loss per share is computed independently for each of the quarters presented in the tables above. Therefore, the sum of the quarterly per-share calculations will not equal the annual per share calculation.

Significant Accounting Policies And Supplemental Financial Information (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Principles of Consolidation

The Company’s consolidated financial statements include the accounts of its subsidiary, UPI. Intercompany balances and transactions have been eliminated during consolidation.

Use of Estimates

Foreign Currency

Functional Currency

Cash and Cash Equivalents

Short-Term Investments

Concentration of Credit Risk

Income Taxes

Property and Equipment

Annual rates of depreciation are as follows:

	%
Computers and software		33
Laboratory equipment	15-30
Furniture	6-15
Manufacturing equipment		50

Leasehold improvements are amortized on a straight-line basis over the shorter of their estimated useful lives or lease terms. See Note 5 for further discussion regarding property and equipment.

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following as of December 31, 2018 and 2017, respectively (in thousands):

	December 31, 2018		December 31, 2017
Accounts payable	$	4,272	$	2,839
Accrued clinical expenses		673		384
Accrued research and development costs		780		233
Accrued general and administrative expenses		1,029		239
Accrued other expense		1,786		740
Total accrued expenses and other current liabilities	$	8,540	$	4,435

Revenues

Under ASC 606,

in determining the appropriate amount of revenue to be recognized as it fulfills its obligations under the agreements with Allergan, the Company performs the following steps:

Identification of the contract;

Determination of whether the promised goods or services are performance obligations including whether they are distinct in the context of the contract;

Measurement of the transaction price, including the constraint on variable consideration;

Allocation of the transaction price to the performance obligations;

Recognition of revenue when or as the Company satisfies each performance obligation.

In an arrangement with multiple goods and services, a good or service that is promised to a customer shall be considered a separate performance obligation if all of the following criteria are met:

Allocating the Consideration in the Arrangement

Development and Regulatory Milestone Payments

Royalties Based on Allergan’s Revenue

We are

also entitled to royalties based on Allergan’s revenue from its product, however, these amounts would only be recognized when the conditions are met.

Supply of RTGel to Allergan

Shipping and handling costs associated with supply of RTGel vials are accounted for as a fulfillment cost and are in included in cost of revenues.

General and Administrative Expenses

Research and Development

Share-Based Compensation

Finance (Income) Expense

	Year Ended December 31,
	2018			2017			2016
Changes in fair value of warrants for preferred shares	$	—		$	168		$	2,740
Interest income on cash and cash equivalents		(1,872	)		(125	)		(1	)
Realized loss on sale of short-term investment		100			—			—
Other finance expenses		124			(12	)		—
Total finance (income) expense	$	(1,648	)	$	31		$	2,739

Net Loss per Common Share

For all periods presented, potentially dilutive securities are excluded from the computation of fully diluted loss per share as their effect is anti-dilutive.

The following table summarizes the calculation of basic and diluted loss per common share for the periods presented (in thousands, except share and per share amounts):

	Year Ended December 31,
	2018		2017		2016
Basic and diluted:
Loss attributable to equity holders of the Company	$	75,657	$	20,000	$	1,941
Dividend accumulated for preferred shares during the period	$	—	$	825	$	2,467
Loss attributable to equity holders of the Company, after deducting dividend accumulated for preferred shares	$	75,657	$	20,825	$	4,408
Weighted-average number of ordinary shares		15,754,193		9,716,790		2,305,503
Loss per ordinary share	$	4.80	$	2.14	$	1.91

Recent Accounting Pronouncements

Significant Accounting Policies And Supplemental Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Schedule of Annual Rates of Depreciation

Annual rates of depreciation are as follows:

	%
Computers and software		33
Laboratory equipment	15-30
Furniture	6-15
Manufacturing equipment		50

Schedule of Accrued Expenses And Other Current Liabilities

Accrued expenses and other current liabilities consist of the following as of December 31, 2018 and 2017, respectively (in thousands):

	December 31, 2018		December 31, 2017
Accounts payable	$	4,272	$	2,839
Accrued clinical expenses		673		384
Accrued research and development costs		780		233
Accrued general and administrative expenses		1,029		239
Accrued other expense		1,786		740
Total accrued expenses and other current liabilities	$	8,540	$	4,435

Schedule of Finance (Income) Expense

	Year Ended December 31,
	2018			2017			2016
Changes in fair value of warrants for preferred shares	$	—		$	168		$	2,740
Interest income on cash and cash equivalents		(1,872	)		(125	)		(1	)
Realized loss on sale of short-term investment		100			—			—
Other finance expenses		124			(12	)		—
Total finance (income) expense	$	(1,648	)	$	31		$	2,739

Schedule of Calculation of Basic and Diluted Loss Per Share

The following table summarizes the calculation of basic and diluted loss per common share for the periods presented (in thousands, except share and per share amounts):

	Year Ended December 31,
	2018		2017		2016
Basic and diluted:
Loss attributable to equity holders of the Company	$	75,657	$	20,000	$	1,941
Dividend accumulated for preferred shares during the period	$	—	$	825	$	2,467
Loss attributable to equity holders of the Company, after deducting dividend accumulated for preferred shares	$	75,657	$	20,825	$	4,408
Weighted-average number of ordinary shares		15,754,193		9,716,790		2,305,503
Loss per ordinary share	$	4.80	$	2.14	$	1.91

Fair Value Measurements and Investments in Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of December 31, 2018 are as follows (in thousands):

Fair Value Measurements Using

Quoted Prices

Significant

in Active

Other

Significant

Balance as of

Markets for

Observable

Unobservable

December 31,

Identical Assets

Inputs

2018

(Level 1)

(Level 2)

(Level 3)

Assets:

Money market funds⁽¹⁾

89,965

—

⁽¹⁾	Included within cash and cash equivalents on the Company’s consolidated balance sheets.

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of December 31, 2017 are as follows (in thousands):

Fair Value Measurements Using

Quoted Prices

Significant

in Active

Other

Significant

Balance as of

Markets for

Observable

Unobservable

December 31,

Identical Assets

Inputs

2017

(Level 1)

(Level 2)

(Level 3)

Assets:

Money market funds⁽¹⁾

26,127

—

Short-term investments

36,001

—

36,001

—

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment, consists of the following as of December 31, 2018 and 2017 (in thousands):

	December 31,
	2018			2017
Laboratory equipment	$	241		$	223
Computer equipment and software		271			167
Furniture		395			234
Leasehold improvements		561			531
Manufacturing equipment		227			227
		1,695			1,382
Less: accumulated depreciation and amortization		(747	)		(577	)
Property and equipment, net	$	948		$	805

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Number of Options Outstanding Under the Plan

The following table summarizes the number of options outstanding under the Plan for the years ended December 31, 2018, 2017 and 2016, and related information:

	Employees and Directors						Consultants and Service providers
	Number of options				Weighted Average price per share		Number of options			Weighted Average price per share
Outstanding as of January 1, 2016		1,411,400			$	4.70		513,238		$	3.48
Granted		404,813			$	5.50		132,032		$	7.15
Canceled/Forfeited		(60,800	)		$	5.94		(6,000	)	$	1.58
Exercised		—			$	—		(4,784	)	$	2.45
Outstanding as of December 31, 2016		1,755,413			$	4.84		634,486		$	4.27
Granted		589,600		*	$	23.95		—		$	—
Canceled/Forfeited		(39,500	)		$	5.77		(5,686	)	$	2.93
Exercised		(560,243	)		$	4.39		(130,038	)	$	2.92
Outstanding as of December 31, 2017		1,745,270			$	11.42		498,762		$	4.64
Granted		1,155,000			$	47.18		40,000		$	47.56
Canceled/Forfeited		(153,313	)		$	35.19		(13,836	)	$	37.38
Exercised		(659,434	)		$	9.37		(89,468	)	$	6.20
Outstanding as of December 31, 2018		2,087,523			$	30.11		435,458		$	7.22

*	Including 9,600 ordinary shares issuable upon the vesting of options granted in 2016, which were contingent upon the closing of the IPO

Summary of Number of Options Outstanding and Exercisable

The following table summarizes the outstanding and exercisable options as of December 31, 2018:

	Options outstanding				Options exercisable
Exercise price per share	Number of options outstanding at end of year		Weighted average remaining contractual life		Number of options exercisable at end of year		Weighted average remaining contractual life
$0.00 - 10.00		1,023,791		3.38		814,479		3.20
$10.01 - 20.00		215,079		6.71		140,078		5.79
$20.01 - 30.00		100,000		8.82		33,334		8.82
$30.01 - 40.00		225,000		6.18		114,998		3.40
$40.01 - 50.00		742,111		8.80		157,720		6.90
$50.01 - 59.23		217,000		9.37		36,499		9.43
		2,522,981				1,297,108

Summary of Information about RSU Activity

The following table summarizes information about RSU activity as of December 31, 2018:

	Outstanding Restricted Stock Units
Outstanding as of January 1, 2016		275,200
Granted		—
Vested and released		—
Forfeited		—
Outstanding as of December 31, 2016		275,200
Granted		123,300		*
Vested and released		(121,940	)
Forfeited		—
Outstanding as of December 31, 2017		276,560
Granted		116,493
Vested and released		(118,447	)
Forfeited		(10,907	)
Outstanding as of December 31, 2018		263,699

Schedule of Effect of Share-Based Compensation on Statements of Operations

The following table illustrates the effect of share-based compensation on the statements of operations:

	Year ended December 31,
	2018		2017		2016
Research and development expenses	$	12,038	$	3,923	$	1,167
General and administrative expenses		18,604		2,377		800
	$	30,642	$	6,300	$	1,967

Employees and Directors

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Assumptions Used to Computing Fair Value of Options Granted

The fair value of options granted to employees and directors was computed using the Black-Scholes model. The underlying data used for computing the fair value of the options are as follows:

	2018	2017	2016
Value of ordinary shares	$38.64-59.23	$13.00-39.26	$2.98-5.54
Dividend yield	0%	0%	0%
Expected volatility	72.59%-79.37%	71.53%-76.32%	74.8%-80%
Risk-free interest rate	2.30%-3.07%	1.85%-2.47%	1.4%–2.13%
Expected term	5.4-10 years	5.5-10 years	7 years

Consultants and Other Service Providers

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Assumptions Used to Computing Fair Value of Options Granted

	2018	2017	2016
Value of ordinary shares	$43.06-49.69	$1.58-37.21	$1.58-7.96
Dividend yield	0%	0%	0%
Expected volatility	72.00%-82.04%	68.45%-74.50%	72.72%-80%
Risk-free interest rate	1.72%-2.98%	1.38%-2.26%	1.56%-2.27%
Expected term	0.2-9.5 years	3.9-5.9 years	5.8-8.5 years

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Deferred Income Taxes

	December 31,
	2018			2017			2016
In respect of:
Net operating loss carry forward	$	16,943		$	5,844		$	3,280
Deferred rent		61			46			—
Research and development expenses		3,891			2,887			—
Stock-based compensation		4,769			897			—
Issuance costs		1,367			1,261			—
In-process research and development		629			761			806
Accrued expenses		598			5			—
Depreciation of fixed assets		(93	)
Other		84			24			72
Less—valuation allowance		(28,249	)		(11,725	)		(4,158	)
Net deferred tax assets	$	—		$	—		$	—

Schedule of Change in Valuation Allowance

The change in valuation allowance for the years ended December 31, 2018 and 2017 were as follows:

	2018			2017			2016
Balance at the beginning of the year	$	(11,725	)	$	(4,158	)	$	(4,499	)
Changes during the year		(16,524	)		(7,567	)		341
Balance at the end of the year	$	(28,249	)	$	(11,725	)	$	(4,158	)

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Summary of Lease Obligations

The following table summarizes our lease obligations at December 31, 2018 (in thousands):

YEARS ENDED DECEMBER 31,	Operating Lease
2019	$	1,136
2020		1,251
2021		676
2022		567
2023		301
2024 and thereafter		58
Total minimum lease payments	$	3,989

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Data

	2018
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Total revenues	$	481		$	364		$	283		$	—		$	1,128
Total operating expenses	$	13,691		$	18,480		$	20,317		$	24,017		$	76,505
Loss from operations	$	(13,640	)	$	(18,434	)	$	(21,089	)	$	(24,017	)	$	(77,180	)
Net loss attributable to common shareholders	$	(13,382	)	$	(18,026	)	$	(20,533	)	$	(23,716	)	$	(75,657	)
Net loss per share attributable to common shareholders - basic and diluted	$	(0.88	)	$	(1.14	)	$	(1.28	)	$	(1.46	)	$	(4.80	)

	2017
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total
Total revenues	$	19		$	—		$	7,812		$	327		$	8,158
Total operating expenses	$	3,539		$	5,951		$	7,820		$	10,198		$	27,508
Loss from operations	$	(3,538	)	$	(5,951	)	$	(303	)	$	(10,158	)	$	(19,950	)
Net loss attributable to common shareholders	$	(3,417	)	$	(6,199	)	$	(298	)	$	(10,086	)	$	(20,000	)
Net loss per share attributable to common shareholders - basic and diluted	$	(1.74	)	$	(0.70	)	$	(0.02	)	$	(0.74	)	$	(2.14	)

Business and Nature of Operations - Additional Information (Details)	12 Months Ended
	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Date of incorporation	Apr. 30, 2004
Date of operating commencement	Feb. 29, 2016

Basis of Presentation and Management Plans - Addititonal Information (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Accumulated deficit	$ 122,871	$ 47,214

Significant Accounting Policies and Supplemental Financial Information - Additional Information (Details) $ in Thousands		3 Months Ended						12 Months Ended
	Oct. 07, 2016 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2018 USD ($) Obligation	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Summary Of Significant Accounting Policy [Line Items]
Change in value of short-term investments								$ 100
Number of performance obligation \| Obligation								2
Upfront fee allocated to license component								$ 17,500
Revenues		$ 283	$ 364	$ 481	$ 327	$ 7,812	$ 19	1,128	$ 8,158	$ 17,530
Increase (decrease) in research and development expenses										200
Accounting Standards Update 2016-02
Summary Of Significant Accounting Policy [Line Items]
Operating lease liabilities								3,500
Allergan
Summary Of Significant Accounting Policy [Line Items]
Consideration received for license and future supply services	$ 17,500									17,500
Milestone payment for licensing agreement						$ 7,500			7,500
Increase (decrease) in research and development expenses										100
Allergan \| RTGel vials
Summary Of Significant Accounting Policy [Line Items]
Revenues								$ 1,100	$ 700	$ 0

Significant Accounting Policies and Supplemental Financial Information - Schedule of Annual Rates of Depreciation (Details)	12 Months Ended
	Dec. 31, 2018
Computers and Software
Property Plant And Equipment [Line Items]
Property and equipment, annual rates of depreciation	33.00%
Laboratory Equipment \| Minimum
Property Plant And Equipment [Line Items]
Property and equipment, annual rates of depreciation	15.00%
Laboratory Equipment \| Maximum
Property Plant And Equipment [Line Items]
Property and equipment, annual rates of depreciation	30.00%
Furniture \| Minimum
Property Plant And Equipment [Line Items]
Property and equipment, annual rates of depreciation	6.00%
Furniture \| Maximum
Property Plant And Equipment [Line Items]
Property and equipment, annual rates of depreciation	15.00%
Manufacturing Equipment
Property Plant And Equipment [Line Items]
Property and equipment, annual rates of depreciation	50.00%

Significant Accounting Policies and Supplemental Financial Information - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Accounts payable	$ 4,272	$ 2,839
Accrued clinical expenses	673	384
Accrued research and development costs	780	233
Accrued general and administrative expenses	1,029	239
Accrued other expense	1,786	740
Total accrued expenses and other current liabilities	$ 8,540	$ 4,435

Significant Accounting Policies and Supplemental Financial Information - Schedule of Finance (Income) Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounting Policies [Abstract]
Changes in fair value of warrants for preferred shares		$ 168	$ 2,740
Interest income on cash and cash equivalents	$ (1,872)	(125)	(1)
Realized loss on sale of short-term investment	100
Other finance expenses	124	(12)
Total finance (income) expense	$ (1,648)	$ 31	$ 2,739

Significant Accounting Policies and Supplemental Financial Information - Schedule of Calculation of Basic and Diluted Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Basic and diluted:
Loss attributable to equity holders of the Company	$ 23,716	$ 20,533	$ 18,026	$ 13,382	$ 10,086	$ 298	$ 6,199	$ 3,417	$ 75,657	$ 20,000	$ 1,941
Dividend accumulated for preferred shares during the period										825	2,467
Loss attributable to equity holders of the Company, after deducting dividend accumulated for preferred shares									$ 75,657	$ 20,825	$ 4,408
Weighted-average number of ordinary shares									15,754,193	9,716,790	2,305,503
Loss per ordinary share	$ 1.46	$ 1.28	$ 1.14	$ 0.88	$ 0.74	$ 0.02	$ 0.70	$ 1.74	$ 4.80	$ 2.14	$ 1.91

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Fair Value Measurements and Investments in Marketable Securities - Additional Information (Details)	12 Months Ended
	Dec. 31, 2018 USD ($)
Fair Value Disclosures [Abstract]
Fair value assets, transfers between level 1 to level 2	$ 0
Fair value assets, transfers between level 2 to level 1	0
Fair value liabilities, transfers between level 1 to level 2	0
Fair value liabilities, transfers between level 2 to level 1	0
Fair value assets, transfers into level 3	0
Fair value assets, transfers out of level 3	0
Fair value liabilities, transfers into level 3	0
Fair value liabilities, transfers out of level 3	$ 0

Fair Value Measurements and Investments in Marketable Securities - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets:
Short-term investments		$ 36,001
Fair Value, Measurements, Recurring
Assets:
Short-term investments		36,001
Fair Value, Measurements, Recurring \| Money Market Funds
Assets:
Assets measured at fair value	$ 89,965	26,127
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1) \| Money Market Funds
Assets:
Assets measured at fair value	$ 89,965	26,127
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2)
Assets:
Short-term investments		$ 36,001

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property Plant And Equipment [Line Items]
Property and equipment	$ 1,695	$ 1,382
Less: accumulated depreciation and amortization	(747)	(577)
Property and equipment, net	948	805
Laboratory Equipment
Property Plant And Equipment [Line Items]
Property and equipment	241	223
Computers and Software
Property Plant And Equipment [Line Items]
Property and equipment	271	167
Furniture
Property Plant And Equipment [Line Items]
Property and equipment	395	234
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment	561	531
Manufacturing Equipment
Property Plant And Equipment [Line Items]
Property and equipment	$ 227	$ 227

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property Plant And Equipment [Abstract]
Depreciation and amortization expense	$ 0.4	$ 0.2	$ 0.2

Allergan License Agreement - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended						12 Months Ended
	Oct. 07, 2016	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Research And Development Arrangement Contract To Perform For Others [Line Items]
Revenues		$ 283	$ 364	$ 481	$ 327	$ 7,812	$ 19	$ 1,128	$ 8,158	$ 17,530
Allergan
Research And Development Arrangement Contract To Perform For Others [Line Items]
Consideration received for license and future supply services	$ 17,500									17,500
Milestone payment for licensing agreement						$ 7,500			7,500
Allergan \| License Agreement \| Maximum
Research And Development Arrangement Contract To Perform For Others [Line Items]
License agreement additional milestone payments eligible to receive								200,000
Allergan \| License Agreement \| Upon Initiation of Phase 3 Clinical Trial for a Licensed Product for Overactive Bladder
Research And Development Arrangement Contract To Perform For Others [Line Items]
License agreement additional milestone payments eligible to receive								20,000
Allergan \| License Agreement \| Upon Initiation of Phase 3 Clinical Trial for a Licensed Product for a Specified Second Indication
Research And Development Arrangement Contract To Perform For Others [Line Items]
License agreement additional milestone payments eligible to receive								15,000
Allergan \| License Agreement \| Upon Net Sales of All Licensed Products of $500.0 Million
Research And Development Arrangement Contract To Perform For Others [Line Items]
License agreement additional milestone payments eligible to receive								50,000
Allergan \| United States \| License Agreement \| Upon First Commercial Sale of a Licensed Product for Overactive Bladder
Research And Development Arrangement Contract To Perform For Others [Line Items]
License agreement additional milestone payments eligible to receive								50,000
Allergan \| United States \| License Agreement \| Upon First Commercial Sale of a Licensed Product for a Specified Second Indication
Research And Development Arrangement Contract To Perform For Others [Line Items]
License agreement additional milestone payments eligible to receive								25,000
Allergan \| European Union \| License Agreement \| Upon First Commercial Sale of a Licensed Product for Overactive Bladder
Research And Development Arrangement Contract To Perform For Others [Line Items]
License agreement additional milestone payments eligible to receive								25,000
Allergan \| European Union \| License Agreement \| Upon First Commercial Sale of a Licensed Product for a Specified Second Indication
Research And Development Arrangement Contract To Perform For Others [Line Items]
License agreement additional milestone payments eligible to receive								15,000
Allergan \| RTGel vials
Research And Development Arrangement Contract To Perform For Others [Line Items]
Revenues								$ 1,100	$ 700	$ 0

Shareholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands		1 Months Ended			12 Months Ended
	Apr. 19, 2017 shares	Jan. 31, 2018 USD ($) $ / shares shares	May 31, 2017 USD ($) $ / shares shares	Oct. 31, 2015 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 USD ($) shares	Dec. 31, 2014 $ / shares shares
Class Of Stock [Line Items]
Ordinary shares, shares authorized					100,000,000	100,000,000
Ordinary shares, issued					16,214,883	13,751,390
Ordinary shares, outstanding					16,214,883	13,751,390
Issuance of ordinary shares, consideration received net of underwriting discounts and commissions and issuance costs \| $					$ 64,193
TMX \| Intellectual Property Costs
Class Of Stock [Line Items]
Research and development expenses incurred \| $				$ 4,100
Stock split description					On April 19, 2017, the Company’s board of directors and shareholders approved an aggregate 3.2 for-1 share split of the Company’s ordinary, Preferred A and Preferred A-1 shares. The share split was effected on April 19, 2017 by the issuance of 2.2 ordinary shares for each outstanding ordinary, Preferred A and Preferred A-1 share held immediately prior to the share split.
Series A Preferred Shares
Class Of Stock [Line Items]
Preferred A and Preferred A-1 shares into ordinary shares conversion ratio	100.00%
Series A Preferred Shares \| TMX
Class Of Stock [Line Items]
Purchase of IP R&D in consideration, shares				691,200
Preferred stock price per share \| $ / shares				$ 5.94
Share split conversion ratio	3.2
Issuance of ordinary shares for each outstanding ordinary, Preferred A and Preferred A-1 shares held immediately prior to share split	2.2
IPO
Class Of Stock [Line Items]
Issuance of ordinary shares, consideration received net of underwriting discounts and commissions and issuance costs \| $						$ 60,772
Preferred A and Preferred A-1 shares into ordinary shares conversion ratio			100.00%
IPO \| Preferred A-1 Shares
Class Of Stock [Line Items]
Stock issued during period upon conversion of warrants, shares			364,036
Warrant exercise price per share \| $ / shares							$ 7.81
Exercisable number of warrants for preferred shares							728,312
IPO \| NASDAQ CAPITAL MARKET
Class Of Stock [Line Items]
Issuance of ordinary shares, shares			5,144,378
Issuance of ordinary shares, price per share \| $ / shares			$ 13.00
Issuance of ordinary shares, consideration received net of underwriting discounts and commissions and issuance costs \| $			$ 60,800
Additional ordinary shares exercised under underwriters option to purchase at the public offering price			671,005
Underwritten Public Offering
Class Of Stock [Line Items]
Issuance of ordinary shares, shares		1,682,926
Issuance of ordinary shares, price per share \| $ / shares		$ 41.00
Issuance of ordinary shares, consideration received net of underwriting discounts and commissions and issuance costs \| $		$ 64,200
Additional ordinary shares exercised under underwriters option to purchase at the public offering price		219,512

Share-Based Compensation - Additional Information (Details) - USD ($)				1 Months Ended			12 Months Ended
	Jan. 02, 2019	Oct. 12, 2018	Jan. 01, 2018	Aug. 31, 2018	Apr. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation							$ 30,642,000	$ 6,300,000	$ 1,967,000
Fair value of option granted							39,300,000	$ 10,900,000	$ 900,000
Aggregate intrinsic value of the total vested and exercisable options							$ 38,900,000
Number of ordinary shares issuable upon vesting of options granted									9,600
Employees and Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted							1,155,000	589,600	404,813
Stock option exercise prices ranging lower limit							$ 38.64	$ 1.78	$ 5
Stock option exercise prices ranging upper limit							$ 59.23	$ 39.26	$ 5.94
Unrecognized compensation cost of employee options							$ 26,500,000
Expected to be recognized over a weighted average period							2 years 2 months 12 days
Intrinsic value of stock options exercised							$ 27,500	$ 17,900	$ 0
Consultants and Service Providers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted							40,000	0	132,032
Stock option exercise prices ranging lower limit							$ 43.67		$ 0
Stock option exercise prices ranging upper limit							$ 59.23		$ 5.94
Fair value of option granted							$ 1,000,000	$ 0	$ 700,000
Intrinsic value of stock options exercised							4,100	3,500	10
General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation							18,604,000	2,377,000	800,000
Research and Development Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation							12,038,000	$ 3,923,000	$ 1,167,000
Options \| Board Of Directors \| Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grants related option awards	$ 3,400,000
Options \| General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation							7,200,000
Options \| Research and Development Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation							$ 7,200,000
Options \| General and Administrative and Research and Development Expenses \| Board Of Directors \| Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Estimated fair value of options granted	$ 2,800,000
Options \| Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage							33.00%
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting period							2 years
Modifications of performance conditions in shares					67,200
Share-based compensation arrangement by share-based payment award, granted							116,493	123,300	0
Expected to be recognized over a weighted average period							2 years 1 month 6 days
Number of ordinary shares issuable upon vesting of options granted									28,800
Fair value of RSUs granted							$ 5,700,000	$ 3,300,000	$ 0
Unrecognized compensation cost of RSUs							$ 5,200,000
Restricted Stock Units (RSUs) \| Senior Executive
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation				$ 0
Share-based compensation arrangement by share-based payment award, granted				10,466
Restricted Stock Units (RSUs) \| General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation					$ 500,000
Restricted Stock Units (RSUs) \| Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage							33.00%
2017 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of ordinary share issuable under the 2017 incentive plan						1,400,000	5,600,000
Number of ordinary shares reserved for issuance, percentage							12.00%
Increase in number of ordinary share issuable under the 2017 incentive plan		1,900,000	250,167
Plan \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting period							3 years
Combined voting power percentage							10.00%
Ordinary Shares \| 2017 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of ordinary share issuable under the 2017 incentive plan		3,550,167	1,650,167
Maximum \| Plan \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted, expected term							10 years
Minimum \| Plan \| Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exercise price of stock options as percentage of fair market value of shares on grant date							100.00%
Stock options exercise price percentage for individuals possesses more than 10% of the combined voter power							110.00%

Share Based Compensation - Schedule of Assumptions Used to Computing Fair Value of Options Granted to Employees and Directors (Details) - Options - Employees and Directors - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, Minimum	72.59%	71.53%	74.80%
Expected volatility, Maximum	79.37%	76.32%	80.00%
Risk-free interest rate, Minimum	2.30%	1.85%	1.40%
Risk-free interest rate, Maximum	3.07%	2.47%	2.13%
Expected term			7 years
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Value of ordinary shares	$ 38.64	$ 13.00	$ 2.98
Expected term	5 years 4 months 24 days	5 years 6 months
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Value of ordinary shares	$ 59.23	$ 39.26	$ 5.54
Expected term	10 years	10 years

Share Based Compensation - Schedule of Assumptions Used to Computing Fair Value of Options Granted to Consultants and Other Service Providers (Details) - Options - Consultants and Other Service Providers - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, Minimum	72.00%	68.45%	72.72%
Expected volatility, Maximum	82.04%	74.50%	80.00%
Risk-free interest rate, Minimum	1.72%	1.38%	1.56%
Risk-free interest rate, Maximum	2.98%	2.26%	2.27%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Value of ordinary shares	$ 43.06	$ 1.58	$ 1.58
Expected term	2 months 12 days	3 years 10 months 24 days	5 years 9 months 18 days
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Value of ordinary shares	$ 49.69	$ 37.21	$ 7.96
Expected term	9 years 6 months	5 years 10 months 24 days	8 years 6 months

Share Based Compensation - Summary of Number of Options Outstanding Under the Plan (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Employees and Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding beginning balance	1,745,270	1,755,413	1,411,400
Number of Options, Granted	1,155,000	589,600	404,813
Number of Options, Canceled/Forfeited	(153,313)	(39,500)	(60,800)
Number of Options, Exercised	(659,434)	(560,243)
Number of Options, Outstanding ending balance	2,087,523	1,745,270	1,755,413
Weighted Average Price Per Share, Outstanding beginning balance	$ 11.42	$ 4.84	$ 4.70
Weighted Average Price Per Share, Granted	47.18	23.95	5.50
Weighted Average Price Per Share, Canceled/Forfeited	35.19	5.77	5.94
Weighted Average Price Per Share, Exercised	9.37	4.39
Weighted Average Price Per Share, Outstanding ending balance	$ 30.11	$ 11.42	$ 4.84
Consultants and Other Service Providers
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding beginning balance	498,762	634,486	513,238
Number of Options, Granted	40,000		132,032
Number of Options, Canceled/Forfeited	(13,836)	(5,686)	(6,000)
Number of Options, Exercised	(89,468)	(130,038)	(4,784)
Number of Options, Outstanding ending balance	435,458	498,762	634,486
Weighted Average Price Per Share, Outstanding beginning balance	$ 4.64	$ 4.27	$ 3.48
Weighted Average Price Per Share, Granted	47.56		7.15
Weighted Average Price Per Share, Canceled/Forfeited	37.38	2.93	1.58
Weighted Average Price Per Share, Exercised	6.20	2.92	2.45
Weighted Average Price Per Share, Outstanding ending balance	$ 7.22	$ 4.64	$ 4.27

Share Based Compensation - Summary of Number of Options Outstanding and Exercisable (Details)	12 Months Ended
	Dec. 31, 2018 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options outstanding, number of options outstanding at end of year	2,522,981
Options exercisable, number of options outstanding at end of year	1,297,108
0.00 - 10.00
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option exercise prices ranging lower limit \| $ / shares	$ 0.00
Stock option exercise prices ranging upper limit \| $ / shares	$ 10.00
Options outstanding, number of options outstanding at end of year	1,023,791
Options outstanding, weighted average remaining contractual life	3 years 4 months 17 days
Options exercisable, number of options outstanding at end of year	814,479
Options exercisable, weighted average remaining contractual life	3 years 2 months 12 days
10.01 - 20.00
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option exercise prices ranging lower limit \| $ / shares	$ 10.01
Stock option exercise prices ranging upper limit \| $ / shares	$ 20.00
Options outstanding, number of options outstanding at end of year	215,079
Options outstanding, weighted average remaining contractual life	6 years 8 months 15 days
Options exercisable, number of options outstanding at end of year	140,078
Options exercisable, weighted average remaining contractual life	5 years 9 months 14 days
20.01 - 30.00
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option exercise prices ranging lower limit \| $ / shares	$ 20.01
Stock option exercise prices ranging upper limit \| $ / shares	$ 30.00
Options outstanding, number of options outstanding at end of year	100,000
Options outstanding, weighted average remaining contractual life	8 years 9 months 25 days
Options exercisable, number of options outstanding at end of year	33,334
Options exercisable, weighted average remaining contractual life	8 years 9 months 25 days
30.01 - 40.00
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option exercise prices ranging lower limit \| $ / shares	$ 30.01
Stock option exercise prices ranging upper limit \| $ / shares	$ 40.00
Options outstanding, number of options outstanding at end of year	225,000
Options outstanding, weighted average remaining contractual life	6 years 2 months 4 days
Options exercisable, number of options outstanding at end of year	114,998
Options exercisable, weighted average remaining contractual life	3 years 4 months 24 days
40.01 - 50.00
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option exercise prices ranging lower limit \| $ / shares	$ 40.01
Stock option exercise prices ranging upper limit \| $ / shares	$ 50.00
Options outstanding, number of options outstanding at end of year	742,111
Options outstanding, weighted average remaining contractual life	8 years 9 months 18 days
Options exercisable, number of options outstanding at end of year	157,720
Options exercisable, weighted average remaining contractual life	6 years 10 months 24 days
50.01 - 59.23
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option exercise prices ranging lower limit \| $ / shares	$ 50.01
Stock option exercise prices ranging upper limit \| $ / shares	$ 59.23
Options outstanding, number of options outstanding at end of year	217,000
Options outstanding, weighted average remaining contractual life	9 years 4 months 13 days
Options exercisable, number of options outstanding at end of year	36,499
Options exercisable, weighted average remaining contractual life	9 years 5 months 4 days

Share-Based Compensation - Summary of Information about RSU Activity (Details) - Restricted Stock Units (RSUs) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Options, Outstanding beginning balance	276,560	275,200	275,200
Granted	116,493	123,300	0
Vested and released	(118,447)	(121,940)	0
Forfeited	(10,907)		0
Number of Options, Outstanding ending balance	263,699	276,560	275,200

Share Based Compensation - Schedule of Effect of Share-Based Compensation on Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation	$ 30,642	$ 6,300	$ 1,967
Research and Development Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation	12,038	3,923	1,167
General and Administrative Expenses
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation	$ 18,604	$ 2,377	$ 800

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 04, 2016
Income Tax [Line Items]
Corporate tax rate	23.00%	24.00%	25.00%
Corporate income tax rate reduced				1.50%
Federal tax net operating losses carry forward	$ 1.5
State tax net operating losses carry forward	$ 1.7
Federal and state net operating losses expiration year	2036
Net carry forward tax losses	$ 72.1
Patents
Income Tax [Line Items]
Acquired intangible asset amortization period	8 years

Income Taxes - Schedule of Deferred Income Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
In respect of:
Net operating loss carry forward	$ 16,943	$ 5,844	$ 3,280
Deferred rent	61	46
Research and development expenses	3,891	2,887
Stock-based compensation	4,769	897
Issuance costs	1,367	1,261
In-process research and development	629	761	806
Accrued expenses	598	5
Depreciation of fixed assets	(93)
Other	84	24	72
Less—valuation allowance	$ (28,249)	$ (11,725)	$ (4,158)	$ (4,499)

Income Taxes - Schedule of Change in Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Valuation Allowance [Abstract]
Balance at the beginning of the year	$ (11,725)	$ (4,158)	$ (4,499)
Changes during the year	(16,524)	(7,567)	341
Balance at the end of the year	$ (28,249)	$ (11,725)	$ (4,158)

Related Parties - Additional Information (Details) - UroGen Pharma Inc. - USD ($)	1 Months Ended		12 Months Ended
	Apr. 30, 2018	Sep. 30, 2017	Dec. 31, 2018
Related Party Transaction [Line Items]
Lease agreement date			Nov. 30, 2015
Lease commencement date	Jul. 10, 2018	Oct. 31, 2017	May 31, 2016
Gain (loss) on disposal of fixed assets			$ 200,000
Operating lease liabilities			$ 0

Commitments and Contingencies - Additional Information (Details) - USD ($)	1 Months Ended			12 Months Ended
	Dec. 31, 2018	Apr. 30, 2018	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	May 01, 2016
IIA
Commitments And Contingent Liabilities [Line Items]
Royalty amount payable	$ 800,000			$ 800,000
IIA \| Minimum
Commitments And Contingent Liabilities [Line Items]
Royalty fees payable on product sales, percentage				3.00%
IIA \| Maximum
Commitments And Contingent Liabilities [Line Items]
Royalty fees payable on product sales, percentage				5.00%
Maximum percentage of royalty payable on grant received	300.00%			100.00%
Royalty amount payable	$ 2,100,000			$ 2,100,000
UroGen Pharma Inc.
Commitments And Contingent Liabilities [Line Items]
Lease agreement period							7 years
Line of credit	$ 0			$ 0
Lease commencement date		Jul. 10, 2018	Oct. 31, 2017	May 31, 2016
Lease termination date		Mar. 31, 2024	Feb. 28, 2021
Remaining contractual obligation		$ 1,400,000	$ 1,500,000
Payments for improvements		$ 200,000
Rent expense				$ 1,200,000	$ 600,000	$ 300,000

Commitments and Contingencies - Summary of Lease Obligations (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Commitments And Contingencies Disclosure [Abstract]
2019	$ 1,136
2020	1,251
2021	676
2022	567
2023	301
2024 and thereafter	58
Total minimum lease payments	$ 3,989

Subsequent Events - Additional Information (Details) - Subsequent Event - USD ($)		1 Months Ended
	Jan. 03, 2019	Jan. 31, 2019
Options \| Elizabeth Barrett
Subsequent Event [Line Items]
Option to purchase of ordinary shares	277,432
Restricted Stock Units (RSUs) \| Elizabeth Barrett
Subsequent Event [Line Items]
Option to purchase of ordinary shares	317,065
Stock Options and Restricted Stock Units (RSUs) \| Elizabeth Barrett
Subsequent Event [Line Items]
Fair value	$ 24,100
Underwritten Public Offering
Subsequent Event [Line Items]
Issuance of ordinary shares, shares		4,207,317
Additional ordinary shares exercised under underwriters option to purchase at the public offering price		548,780
Issuance of ordinary shares, price per share		$ 41.00
Net offering proceeds after deducting underwriting discount and commission and offering expenses		$ 161,800,000

Selected Quarterly Financial Data (Unaudited) - Summarized Quarterly Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Total revenues		$ 283	$ 364	$ 481	$ 327	$ 7,812		$ 19	$ 1,128	$ 8,158	$ 17,530
Total operating expenses	$ 24,017	20,317	18,480	13,691	10,198	7,820	$ 5,951	3,539	76,505	27,508
Loss from operations	(24,017)	(21,089)	(18,434)	(13,640)	(10,158)	(303)	(5,951)	(3,538)	(77,180)	(19,950)	798
Net loss attributable to common shareholders	$ (23,716)	$ (20,533)	$ (18,026)	$ (13,382)	$ (10,086)	$ (298)	$ (6,199)	$ (3,417)	$ (75,657)	$ (20,000)	$ (1,941)
Net loss per share attributable to common shareholders - basic and diluted	$ (1.46)	$ (1.28)	$ (1.14)	$ (0.88)	$ (0.74)	$ (0.02)	$ (0.70)	$ (1.74)	$ (4.80)	$ (2.14)	$ (1.91)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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