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Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
Document and Entity Information - USD ($) $ in Thousands	Dec. 31, 2018	Mar. 15, 2019	Jun. 30, 2018
Document And Entity Information
Entity Registrant Name	Eton Pharmaceuticals, Inc.
Entity Central Index Key	0001710340
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		17,627,928
Trading Symbol	ETON
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018

Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 26,735	$ 13,156
Prepaid expenses	767	136
Total current assets	27,502	13,292
Property and equipment, net	773	119
Other long-term assets, net	52	32
Total assets	28,327	13,443
Current liabilities:
Accounts payable	1,421	539
Accrued liabilities	603	254
Total current liabilities	2,024	793
Warrant liability		520
Total liabilities	2,024	1,313
Commitments and contingencies (Note 14)
Redeemable convertible preferred stock - Series A $0.001 par value, 10,000,000 shares authorized as of December 31, 2018 and 2017; no shares and 6,685,082 shares issued and outstanding as of December 31, 2018 and 2017, respectively; aggregate liquidation preference of $0 and $20,698 as of December 31, 2018 and 2017, respectively		19,004
Stockholders' equity (deficit)
Common stock, $0.001 par value; 50,000,000 shares authorized as of December 31, 2018 and 2017; 17,607,928 and 6,000,000 shares issued and outstanding at December 31, 2018 and 2017, respectively	18	6
Additional paid-in capital	72,153	1,759
Accumulated deficit	(45,868)	(8,639)
Total stockholders' equity (deficit)	26,303	(6,874)
Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit)	$ 28,327	$ 13,443

Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Temporary equity, par value	$ 0.001	$ 0.001
Temporary equity, shares authorized	10,000,000	10,000,000
Temporary equity, shares issued		6,685,082
Temporary equity, shares outstanding		6,685,082
Temporary equity, liquidation preference	$ 0	$ 20,698
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	17,607,928	6,000,000
Common stock, shares outstanding	17,607,928	6,000,000

Statements of Operations - USD ($) shares in Thousands, $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Operating expenses:
Research and development	$ 3,930	$ 5,627
General and administrative	3,220	4,694
Total operating expenses	7,150	10,321
Loss from operations	(7,150)	(10,321)
Other income (expense):
Interest and other income, net	35	164
Change in fair value of warrant liability	(41)	(2,583)
Loss before income tax expense	(7,156)	(12,740)
Income tax expense
Net loss	(7,156)	(12,740)
Accrued dividends on redeemable convertible preferred stock	(643)	(1,048)
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs	(840)	(1,694)
Deemed dividends for beneficial conversion feature of redeemable convertible preferred stock		(21,747)
Net loss attributable to common stockholders	$ (8,639)	$ (37,229)
Net loss per share attributable to common stockholders, basic and diluted	$ (2.50)	$ (5.80)
Weighted-average number of common shares outstanding, basic and diluted	3,453	6,418

Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Redeemable Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Apr. 26, 2017
Balance, shares at Apr. 26, 2017
Temporary equity balance at Apr. 26, 2017
Temporary equity balance, shares at Apr. 26, 2017
Common stock issued to founder		$ 4			4
Common stock issued to founder, shares		3,500,000
Stock-based compensation		$ 2	1,759		1,761
Stock-based compensation, shares		2,500,000
Issuance of Series A redeemable convertible preferred stock, net of issuance costs	$ 17,521
Issuance of Series A redeemable convertible preferred stock, net of issuance costs, shares	6,685,082
Accrued dividends on redeemable convertible preferred stock	$ 643			(643)	(643)
Accrued dividends on redeemable convertible preferred stock, shares
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs	$ 840			(840)	(840)
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs, shares
Net loss				(7,156)	(7,156)
Balance at Dec. 31, 2017		$ 6	1,759	(8,639)	$ (6,874)
Balance, shares at Dec. 31, 2017		6,000,000
Temporary equity balance at Dec. 31, 2017	$ 19,004
Temporary equity balance, shares at Dec. 31, 2017	6,685,082				6,685,082
Stock-based compensation			1,850		$ 1,850
Stock-based compensation, shares		218,980
Accrued dividends on redeemable convertible preferred stock	$ 1,048			(1,048)	(1,048)
Accrued dividends on redeemable convertible preferred stock, shares
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs	$ 1,694			(1,694)	(1,694)
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs, shares
Issuance of common stock in connection with initial public offering, including underwriter's over-allotment, net of offering costs and underwriter's discount		$ 4	21,956		21,960
Issuance of common stock in connection with initial public offering, including underwriter's over-allotment, net of offering costs and underwriter's discount, shares		4,140,000
Conversion of redeemable convertible preferred stock (including accrued dividends) to common stock in connection with initial public offering	$ (21,746)	$ 8	21,738		21,746
Conversion of redeemable convertible preferred stock (including accrued dividends) to common stock in connection with initial public offering, shares	(6,685,082)	7,248,948
Reclassification of common stock warrants from liability to additional paid-in-capital			3,103		3,103
Beneficial conversion feature on redeemable convertible preferred stock			21,747	(21,747)
Net loss				(12,740)	(12,740)
Balance at Dec. 31, 2018		$ 18	$ 72,153	$ (45,868)	$ 26,303
Balance, shares at Dec. 31, 2018		17,607,928
Temporary equity balance at Dec. 31, 2018
Temporary equity balance, shares at Dec. 31, 2018

Statements of Cash Flows - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
Statements of Cash Flows - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2018
Cash flows from operating activities
Net loss	$ (7,156)	$ (12,740)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	1,761	1,850
Depreciation and amortization	13	63
Change in fair value of warrant liability	41	2,583
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(170)	(663)
Accounts payable	539	413
Accrued liabilities	254	349
Net cash used in operating activities	(4,718)	(8,145)
Cash used in investing activities
Purchases of property and equipment	(130)	(236)
Cash flows from financing activities
Proceeds from initial public offering, net of underwriting discounts and commissions		22,803
Payments of initial public offering costs		(843)
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs	18,000
Proceeds from issuance of common stock	4
Net cash provided by financing activities	18,004	21,960
Change in cash and cash equivalents	13,156	13,579
Cash and cash equivalents at beginning of period		13,156
Cash and cash equivalents at end of period	13,156	26,735
Supplemental disclosures of cash flow information
Cash paid for interest
Cash paid for income taxes
Supplemental disclosures of non-cash investing and financing activities:
Accrued dividends on redeemable convertible preferred stock	643	1,048
Deemed dividends for accretion of redeemable convertible preferred stock issuance costs	840	1,694
Common stock warrant liability issued with redeemable convertible preferred stock financing	479
Purchase of equipment included in accounts payable		469
Beneficial conversion feature on redeemable convertible preferred stock		21,747
Reclassification of common stock warrants from liability to additional paid-in-capital		$ 3,103

Company Overview

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Company Overview

Note 1 — Company Overview

Eton Pharmaceuticals, Inc. (“Eton” or the “Company”) was incorporated as a Delaware “C” corporation on April 27, 2017 and was initially set up as a wholly-owned subsidiary of Harrow Health, Inc. (“Harrow”, fka Imprimis Pharmaceuticals, Inc.).

Eton raised $20,055 in start-up capital through the sale of its Series A redeemable convertible preferred stock (“Series A Preferred”) in June 2017 and a separate management team was then established for Eton with its corporate offices located in Deer Park, Illinois. Eton is a specialty pharmaceutical company focused on developing and commercializing prescription drug products utilizing the U.S. Food and Drug Administration’s (the “FDA”) 505(b)(2) regulatory pathway. The Company’s business model is to develop proprietary innovative product candidates that offer commercial and/or functional advantages to currently available alternatives.

In November 2018, the Company completed an initial public offering (“IPO”), selling 4,140,000 shares of common stock at an offering price of $6.00 per share, including the underwriter’s exercise in full of its option to purchase additional shares. The Company received net proceeds of $21,960, after deducting underwriting discounts and commissions and offering-related expenses (see Note 7).

Liquidity Considerations

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Liquidity Considerations

Note 2 — Liquidity Considerations

As of December 31, 2018 and 2017, the Company had an accumulated deficit of $45,868 and $8,639, respectively. In addition, for the year ended December 31, 2018 and the period from April 27, 2017 (inception) to December 31, 2017, the Company had net cash used in operating activities of $8,145 and $4,718, respectively.

To date, the Company has not generated any revenues and does not anticipate generating significant revenues unless and until it successfully completes development and obtains regulatory approval for one of its product candidates. As of December 31, 2018, the Company had an accumulated deficit of $45,868 and has incurred negative cash flow from operating activities since its inception. The Company currently believes its existing cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next twelve months from the date of issuance of these financial statements. This estimate is based on the Company’s current assumptions, including assumptions relating to its ability to manage its spending. The Company could use its available capital resources sooner than currently expected. Accordingly, the Company could seek to obtain additional capital through equity financings, the sale of debt or other arrangements. However, there can be no assurance that the Company will be able to raise additional capital if needed or under acceptable terms, if at all. The sale of additional equity may dilute existing stockholders and newly issued shares may contain senior rights and preferences compared to currently outstanding common shares. Issued debt securities may contain covenants and limit the Company’s ability to pay dividends or make other distributions to stockholders. If the Company is delayed in completing its product development and obtaining regulatory approval for its product candidates and is unable to obtain such additional financing, operations would need to be scaled back or discontinued.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 3 — Summary of Significant Accounting Policies

Basis of Presentation

The Company has prepared the accompanying financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”).

Use of Estimates

The preparation of financial statements in conformity with 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 revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of common stock, stock options, warrants and derivative instruments. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates or assumptions.

Segment Information

The Company operates the business on the basis of a single reportable segment, which is the business of developing and commercializing prescription drug products. The Company’s chief operating decision-maker is the Chief Executive Officer (“CEO”), who evaluates the Company as a single operating segment.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. All cash and cash equivalents are held in U.S. financial institutions. Cash equivalents consist of an interest-bearing checking account. From time to time, amounts deposited exceed federally insured limits. The Company believes the associated credit risk to be minimal.

Property and Equipment

Property and equipment are stated at cost. Depreciation of property and equipment is computed utilizing the straight-line method based on the following estimated useful lives. Computer software and hardware is depreciated over three years. Equipment, furniture and fixtures is depreciated over five years. Leasehold improvements are amortized over their estimated useful lives or the remaining lease term, whichever is shorter. Construction in progress is capitalized but not depreciated until it is placed into service.

Maintenance and repairs are charged to expense as incurred, while renewals and improvements are capitalized.

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the Company’s statements of operations for the amount by which the carrying amount of the asset exceeds the fair value of the asset. No impairment was recognized during the periods ended December 31, 2018 and 2017.

Classification and Accretion of Redeemable Convertible Preferred Stock

Prior to the Company’s IPO in November 2018, the Company had classified the Series A Preferred outside of stockholders’ equity (deficit) because the shares contained certain redemption features that were not solely within the control of the Company. The carrying value of the Series A Preferred was accreted to its redemption value from the date of issuance through November 15, 2018, the date of the Company’s IPO. In conjunction with the IPO, the Series A Preferred, including accrued and unpaid dividends, automatically converted to shares of the Company’s common stock (see Note 6).

Beneficial Conversion Feature

Prior to the IPO in November 2018, the Company classified its Series A Preferred as temporary equity due to a possible cash redemption feature in the event that an IPO or alternate financing was not completed by December 31, 2018. At the IPO date, the Series A Preferred, and related accrued and unpaid dividends, automatically converted into shares of the Company’s common stock. The conversion share calculation was based on the $3.00 initial issuance price for the Series A Preferred plus any accrued but unpaid dividends and converted to common stock using a stated divisor conversion price equal to 50% of the IPO price to the public, which was $6.00 per share. In accordance with relevant accounting literature, since the stated terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred when the contingent event occurred, the Company recorded the beneficial conversion amount of $21,747 as a deemed dividend at the date of the IPO in November 2018.

Leases

Leases are categorized as either operating or capital leases at inception. Operating lease costs are recognized on a straight-line basis over the term of the lease. An asset and a corresponding liability for the capital lease obligation are established for the cost of capital leases. The capital lease obligation is amortized over the life of the lease. The Company does not have any capital leases as of December 31, 2018 and 2017.

Patent Costs

All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses.

Significant Suppliers

The Company is dependent on third-party vendors for its product candidates. In particular, the Company relies, and expects to continue to rely, on a small number of vendors to manufacture key chemicals and process its product candidates for its development programs. These programs could be adversely affected by a significant interruption in the manufacturing process.

Research and Development Expenses

Research and development (“R&D”) expenses include both internal R&D activities and external contracted services. Internal R&D activity expenses include salaries, benefits and stock-based compensation and other costs to support the Company’s R&D operations. External contracted services include product development efforts such as certain product licensor milestone payments, clinical trial activities, manufacturing and control-related activities and regulatory costs. R&D expenses are charged to operations as incurred. The Company reviews and accrues R&D expenses based on services performed and relies upon estimates of those costs applicable to the stage of completion of each project. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates.

Upfront payments and milestone payments made for the licensing of technology for products that are not yet approved by the FDA are expensed as R&D in the period in which they are incurred. Nonrefundable advance payments for goods or services to be received in the future for use in R&D activities are recorded as prepaid expenses and are expensed as the related goods are delivered or the services are performed.

Earnings (Loss) Per Share

Basic net loss per common share is computed by dividing net loss attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders for the period by the weighted average number of common and common equivalent shares, such as Series A Preferred, unvested restricted stock, stock options and warrants that are outstanding during the period. Common stock equivalents are excluded from the computation when their inclusion would be anti-dilutive. No such adjustments were made for 2018 or 2017 as the Company reported a net loss for the periods ended December 31, 2018 and 2017 and including the effects of common stock equivalents in the diluted earnings per share calculation would have been antidilutive (See Note 10).

Warrant Liability

The Company estimated the fair value of certain warrants at each reporting period using Level 3 inputs. The estimates in valuation models were based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the exercise price of the warrants, and could differ materially in the future. Changes in the fair value of the warrant liability during the period were recorded as a component of other income (expense) at the end of each reporting period for changes in fair value until the Company’s IPO in November 2018, which established a fixed number of shares for these warrants. At the date of the IPO, the warrant liability amount was reclassified as a component of additional paid-in-capital.

Stock-Based Compensation

The Company accounts for stock-based compensation under the provisions of the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) — 718 Compensation — Stock Compensation. The guidance under ASC 718 requires companies to estimate the fair value of the stock-based compensation awards on the date of grant for employees and directors and record expense over the related service periods, which are generally the vesting period of the equity awards. Awards for consultants are accounted for under ASC 505-50 — Equity Based Payments to Non-Employees. Compensation expense is recognized over the period during which services are rendered by such consultants and non-employees until completed. At the end of each financial reporting period prior to completion of the service, the fair value of these awards is remeasured using the then-current fair value of the Company’s common stock and updated assumption inputs in the Black-Scholes-Merton option-pricing model (“BSM”).

The Company estimates the fair value of stock-based option awards to its employees and directors using the BSM. The BSM requires the input of subjective assumptions, including the expected stock price volatility, the calculation of expected term, forfeitures and the fair value of the underlying common stock on the date of grant, among other inputs. The risk-free interest rate was determined from the implied yields for zero-coupon U.S. government issues with a remaining term approximating the expected life of the options or warrants. Dividends on common stock are assumed to be zero for the BSM valuation of the stock options. The expected term of stock options granted is based on vesting periods and the contractual life of the options. Expected volatilities are based on comparable companies’ historical volatility, which management believes represents the most accurate basis for estimating expected future volatility under the current conditions. The Company accounts for forfeitures as they occur.

Prior to the IPO, the fair value of the shares of the Company’s common stock underlying its stock-based awards was determined by its board of directors, with input from management. Because there had been no public market for the Company’s common stock prior to the IPO, the board of directors had determined the fair value of the common stock on the grant-date of the stock-based award by considering a number of objective and subjective factors, including enterprise valuations of its common stock performed by an unrelated third-party specialist, valuations of comparable companies, sales of its convertible preferred stock to unrelated third parties, operating and financial performance, the lack of liquidity of the capital stock, and general and industry-specific economic outlook. Following the IPO in November 2018, the Company uses the closing stock price on the date of grant for the fair value of the common stock.

Income Taxes

As part of the process of preparing the Company’s financial statements, the Company must estimate the actual current tax liabilities and assess temporary differences resulting from differing treatment of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within the balance sheets. The Company must assess the likelihood that the deferred tax assets will be recovered from future taxable income and, to the extent the Company believes that recovery is not likely, a valuation allowance must be established. To the extent the Company establishes a valuation allowance or increase or decrease to this allowance in a period, the impact will be included in income tax expense in the statement of operations. As of December 31, 2018 and 2017, the Company has established a 100% valuation reserve against its deferred tax assets.

The Company accounts for income taxes under the provisions of FASB ASC 740 - Income Taxes. As of December 31, 2018 and 2017, there was no unrecognized tax benefits included in the balance sheet that would, if recognized, affect the effective tax rate. The Company’s practice is to recognize interest and penalties related to income tax matters in income tax expense. The Company had no accrual for interest or penalties in its balance sheet at December 31, 2018 or 2017, and has not recognized interest and penalties in the statements of operations for the periods ended December 31, 2018 and 2017. As of December 31, 2018, the Company is subject to taxation in the United States and Illinois. The Company’s tax loss from 2018 and 2017 is subject to examination by the federal and state tax authorities due to the carryforward of unutilized net operating losses (“NOLs”).

The Tax Cuts and Jobs Act of 2017 (the “Tax Act”) significantly revised U.S. corporate income tax law by, among other things, reducing the corporate income tax rate to 21% and implementing a modified territorial tax system. In response to the Tax Act, the SEC issued Staff Accounting Bulletin (“SAB”) 118 which allows issuers to recognize provisional estimates of the impact of the Tax Act in their financial statements and adjust in the period in which the estimate becomes finalized, or in circumstances where estimates cannot be made, to disclose and recognize within a one-year measurement period.

Implementation of the Tax Act resulted in a $733 charge for the revaluation of the Company’s net deferred tax assets offset by a corresponding $733 reduction in the valuation reserve for income taxes during the period ended December 31, 2017.

Current accounting standards include guidance on the accounting for uncertainty in income taxes recognized in the financial statements. Such standards also prescribe a recognition threshold and measurement model for the financial statement recognition of a tax position taken, or expected to be taken, and provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company believes that the ultimate deductibility of all tax positions is highly certain, although there is uncertainty about the timing of such deductibility. As a result, no liability for uncertain tax positions was recorded as of December 31, 2018 or 2017.

Fair Value Measurements

We measure certain of our assets and liabilities at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value accounting requires characterization of the inputs used to measure fair value into a three-level fair value hierarchy as follows:

Level 1 — Inputs based on quoted prices in active markets for identical assets or liabilities. An active market is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2 — Observable inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent from the entity.

Level 3 — Unobservable inputs that reflect the entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available.

Fair value measurements are classified based on the lowest level of input that is significant to the measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values stated below takes into account the market for the Company’s financials, assets and liabilities, the associated credit risk and other factors as required. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis.

The carrying amounts of cash and cash equivalents, accounts payable and accrued liabilities approximate their fair values due to the short-term maturities of these instruments.

The fair values of the Company’s warrant liability at inception and for subsequent mark-to-market fair value measurements were based on management’s valuation model and expectations with respect to the method and timing of settlement. The Company had determined that the warrant liability fair values were classified as Level 3 measurements within the fair value hierarchy. At the date of the Company’s IPO in November 2018, the fair value was reclassified to additional paid-in-capital as the final number of shares for the warrants previously reflected as a liability became fixed (see Note 4).

Impact of New Accounting Pronouncements

In February 2016, the FASB issued ASU 2016-02 (Topic 842) – Leases, which requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, with terms more than 12 months to be recognized as assets and liabilities on the balance sheet. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendments also require certain quantitative and qualitative disclosures about leasing arrangements. ASU 2016-02 is effective for reporting periods beginning after December 15, 2018 with early adoption permitted. While the Company is still evaluating ASU 2016-02, the Company expects the adoption of ASU 2016-02 will not have a material effect on the Company’s financial condition from the recognition of the lease rights and obligations as assets and liabilities. The Company is currently evaluating ASU 2016-02 to determine the effect on the Company’s results of operations and cash flows.

In June 2018, the FASB issued ASU 2018-07, Compensation — Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which simplifies the accounting for nonemployee share-based payment transactions. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. ASU 2018-07 will be effective for financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years with early adoption permitted (but no sooner than the adoption of Topic 606). The Company is currently evaluating ASU 2018-07 to determine the effect on the Company’s financial statements.

In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of operations is required to be filed. This final rule became effective on November 5, 2018. On September 25, 2018, the SEC released guidance advising that it will not object to a registrant adopting the requirement to include changes in stockholders’ equity in the Form 10-Q for the first quarter beginning after the effective date of the rule. The Company does not expect the adoption of SEC Release No. 33-10532 to have a material impact on its financial position, results of operations and related disclosures. The Company anticipates adopting SEC Release No. 33-10532 in its Form 10-Q filing for the quarter ending March 31, 2019.

Fair Value of Financial Assets and Liabilities

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities

Note 4 — Fair Value of Financial Assets and Liabilities

The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of the fair value hierarchy utilized to determine such fair values (in thousands):

Fair Value Measurements as of December 31, 2018 Using:

Level 1

Level 2

Level 3

Total

Liabilities:

Warrant liability

—

	Fair Value Measurements as of December 31, 2017 Using:
	Level 1		Level 2		Level 3		Total
Liabilities:
Warrant liability	$	—	$	—	$	520	$	520

During the periods ended December 31, 2018 and December 31, 2017, there were no transfers between Level 1, Level 2 and Level 3.

Valuation of Warrant Liability

The warrant liability in the table above was composed of the fair value of a warrant to purchase shares of common stock that were issued to the Company’s placement agent in connection with the Series A Preferred offering (see Note 6). The fair value of the warrant liability was determined based on significant inputs not observable in the market, which represented a Level 3 measurement within the fair value hierarchy. The Company used the BSM, which incorporates assumptions and estimates, to value the warrant. Estimates and assumptions impacting the fair value measurement included the fair value per share of the underlying shares of common stock, the remaining contractual term of the warrant, risk-free interest rate, expected dividend yield and expected volatility of the price of the underlying common stock. The Company determined the fair value per share of the underlying common stock by taking into consideration the most recent sales of its preferred stock, results obtained from third-party valuations and additional factors that were deemed relevant. The Company historically had been a private company and lacked company-specific historical and implied volatility information of its common stock. Therefore, the Company estimated its expected stock volatility based on the historical volatility of publicly traded peer companies for a term equal to the remaining contractual term of the warrant. The risk-free interest rate was determined by reference to the U.S. Treasury yield curve for time periods approximately equal to the remaining contractual term of the warrant. The Company estimated a 0% expected dividend yield based on the fact that the Company has never paid or declared dividends and does not intend to do so in the foreseeable future.

In November 2018, in connection with the Company’s IPO, the number of shares issuable upon the exercise of the warrant became fixed (see Note 8). The Company remeasured the estimated fair value on the date of the IPO and reclassified this amount to additional paid-in-capital.

The following table provides a roll forward of the aggregate fair values of the Company’s warrant liability, for which fair value is determined using Level 3 inputs:

	Year ended December 31, 2018			Period from April 27, 2017 (inception) to December 31, 2017
Balance as of the beginning of the period	$	520			—
Initial fair value of warrant liability		—			479
Change in fair value		2,583			41
Warrant liability reclassified to additional paid-in-capital		(3,103	)		—
Balance as of the end of the period	$	—			520

- 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 consist of the following:

	December 31, 2018			December 31, 2017
Computer hardware and software	$	93		$	46
Furniture and fixtures		98			42
Equipment		99			—
Leasehold improvements		53			42
Construction in progress		492			—
		835			130
Less: accumulated depreciation		(62	)		(11	)
Property and equipment, net	$	773		$	119

Depreciation expense for the periods ended December 31, 2018 and 2017 was $51 and $11, respectively.

Redeemable Convertible Preferred Stock - Series A

12 Months Ended

Dec. 31, 2018

Temporary Equity Disclosure [Abstract]

Redeemable Convertible Preferred Stock - Series A

Note 6 — Redeemable Convertible Preferred Stock — Series A

The Company has 10,000,000 authorized shares of $0.001 par value preferred stock as per its Amended and Restated Certificate of Incorporation. In June 2017, the Company issued 6,685,082 Series A Preferred at a price of $3.00 per share and all shares remained outstanding until the Company’s IPO in November 2018. The gross proceeds were $20,055 from the Series A Preferred stock offering. The Series A Preferred shares, including accrued and unpaid dividends, automatically converted to the Company’s common shares at the date of the IPO (See Note 7).

As of December 31, 2017, the liquidation value of the mezzanine Series A Preferred was $20,698, which consisted of the issuance amount of $20,055 plus accrued dividends of $643. As of the date of the IPO on November 15, 2018, the liquidation value of the mezzanine Series A Preferred was $21,746, which consisted of the issuance amount of $20,055 plus accrued dividends of $1,691.

The Series A Preferred automatically converted to common shares upon completion of the IPO in November 2018. The conversion share calculation was based on the $3.00 initial issue price for the Series A Preferred plus accrued and unpaid dividends, and automatically converted into shares of the Company’s common stock using a stated divisor conversion price equal to 50% of the IPO price to the public which was $6.00 per share. In accordance with relevant accounting literature, since the terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred when the contingent event occurred, the Company recorded the beneficial conversion amount of $21,747 as a deemed dividend at the date of the IPO in November 2018.

As a result of the Series A Preferred having a possible cash redemption feature in the event that an IPO or alternate financing was not completed by December 31, 2018, the Series A Preferred was classified as temporary equity and not included as part of Company’s stockholders’ equity (deficit) prior to the November 2018 IPO. In accordance with that classification, the $2,534 of issuance costs associated with the Series A Preferred offering were being ratably accreted as a deemed dividend using the effective interest method through the expected redemption date.

The following is a reconciliation of the carrying value of the Series A Preferred (in thousands):

	December 31, 2018			December 31, 2017
Gross proceeds from Series A Preferred offering	$	20,055		$	20,055
Issuance costs – cash		(2,055	)		(2,055	)
Issuance costs – common stock warrants		(479	)		(479	)
Accrued dividends on Series A Preferred		1,691			643
Deemed dividends for accretion of Series A Preferred issuance costs		2,534			840
Automatic conversion to common shares at the IPO date		(21,746	)		—
Balance as of the end of the period	$	—		$	19,004

Common Stock

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Common Stock

Note 7 — Common Stock

The Company has 50,000,000 authorized shares of $0.001 par value common stock as per its Amended and Restated Certificate of Incorporation. In May 2017, the Company issued 3,500,000 shares of its common stock to Harrow, 1,500,000 shares of restricted stock to certain executives and staff of Harrow and 1,000,000 shares of restricted stock to the CEO of the Company. On January 1, 2018, the Company issued 54,745 restricted shares of its common stock to each of its four outside directors (218,980 total shares) as part of their compensation for board service to the Company in 2018. The restricted shares issued to the Harrow executives and staff vested over a 12-month period, the restricted shares issued to the CEO vest over a 24-month period and the restricted shares issued to the outside directors vested 25% at each quarter-end in 2018 and were fully vested as of December 31, 2018. The Company accounted for the restricted stock awards (“RSAs”) in accordance with ASC 718 or ASC 505-50. For the periods ended December 31, 2018 and 2017, the Company recorded $1,388 and $1,403 respectively, in stock-based compensation expense for these RSAs (see Note 9).

In conjunction with the Company’s November 2018 IPO, the Series A Preferred shares, including accrued dividends, converted into 7,248,948 shares of the Company’s common stock, and the Company issued 4,140,000 additional shares of its common stock to investors in its IPO (See Notes 1 and 6).

Common Stock Warrants

12 Months Ended

Dec. 31, 2018

Warrants and Rights Note Disclosure [Abstract]

Common Stock Warrants

Note 8 — Common Stock Warrants

In May 2017, the Company issued a warrant to purchase 600,000 shares of its common stock to consultants for business strategy and intellectual property advisory services. The warrant vested at issuance in May 2017 and has a $0.01 exercise price per warrant share and expires five years from the date of issuance. The Company used the BSM to value the warrant and the fair value at the date of issuance was $121 based on an expected term of five years, volatility of 85%, a risk-free interest rate of 1.8% and a 0% rate on expected dividends. The $121 amount for the consulting warrants was expensed as a component of the Company’s general and administrative expenses in May 2017.

In conjunction with the closing of the Series A Preferred offering in June 2017 (see Note 6), the Company issued a warrant to purchase 649,409 shares of its common stock to the placement agent at an exercise price of $3.00 per share, provided, however, upon the conversion of the Series A Preferred, the warrant adjusted to entitle the holder to purchase shares of common stock equal to 10.0% of the shares of common stock issuable upon conversion of the Series A Preferred (excluding 191,000 shares of Series A Preferred that were purchased by insiders) and the exercise price would adjust to the conversion price of the Series A Preferred. This warrant vested at issuance in June 2017. The Company used the BSM to value the warrant and the fair value at the date of issuance was $479. Prior to the Company’s IPO in November 2018, the number of common shares issuable upon the exercise of this warrant was not fixed as it could vary by a factor of 1.000 to 1.333 common shares per warrant share in accordance with the IPO price, and the Company considered the warrant to be a derivative instrument (see Note 4). The $479 amount was recorded as a component of the issuance costs for the Series A Preferred in June 2017. As of December 31, 2017, the fair value of the warrant was $520 and the $41 increase in fair value during 2017 was recorded as a component of other income and expense.

As of November 15, 2018, the fair value of the warrants was $3,103 and the $2,583 increase in fair value during 2018 was recorded as a component of other income and expense. The fair value assumptions included an expected term of five years, expected volatility of 85%, a risk-free interest rate of 2.9% and estimate of the conversion rate. These warrants were classified as warrant liability on the Company’s balance sheets prior to the IPO in November 2018. In connection with the Company’s IPO, the number of shares issuable upon the exercise of these warrants became fixed at 704,184 shares which eliminated the fair value adjustment after that date. At the IPO date, the warrant liability was reclassified to additional paid-in-capital.

During November 2018, in connection with the IPO, the Company issued warrants for 414,000 shares of its common stock to the placement agent at an exercise price of $7.50 per share.

The weighted average exercise price of the outstanding warrants for the consultant and placement agent as of December 31, 2018 and 2017 was $3.04 and $1.56 per share, respectively.

Listed below is a summary of warrants outstanding as of December 31, 2018:

Description of Warrants	No. of Shares		Exercise Price
Business Advisory Warrants		600,000	$	0.01
Placement Agent Warrants - Series A Preferred		704,184	$	3.00
Placement Agent Warrants - IPO		414,000	$	7.50
Total		1,718,184	$	3.04 (Avg)

The holders of these warrants or their permitted transferees, are entitled to rights with respect to the registration under the Securities Act of their shares that are converted to common stock, including demand registration rights and piggyback registration rights. These rights are provided under the terms of a registration rights agreement between the Company and the investors.

Share-Based Payment Awards

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Payment Awards

Note 9 — Share-Based Payment Awards

The Company’s board of directors and stockholders approved the Eton Pharmaceuticals, Inc. 2017 Equity Incentive Plan in May 2017 (the “2017 Plan”), which authorized the issuance of up to 5,000,000 shares of the Company’s common stock. In conjunction with the Company’s IPO in November 2018, the Company’s stockholders and board of directors approved the 2018 Equity Incentive Plan (the “2018 Plan”) which succeeded the 2017 Plan. The Company has granted RSAs, stock options and restricted stock units (“RSUs”) for its common stock under the 2017 Plan and 2018 Plan as detailed in the tables below. There were 886,020 shares available for future issuance under the 2018 Plan as of December 31, 2018.

Shares that are expired, terminated, surrendered or canceled without having been fully exercised will be available for future awards under the 2018 Plan. In addition, the 2018 Plan provides that commencing January 1, 2019 and through January 1, 2028, the share reserve will be increased by 4% of the total number of shares outstanding as of the preceding December 31, subject to a reduction at the discretion of the Company’s board of directors. The exercise price for stock options granted is not less than the fair value of common shares as determined by the board of directors as of the date of grant. Prior to the IPO, the Company’s board of directors valued the Company’s common stock, taking into consideration its most recently available valuation of common stock performed by third parties as well as additional factors which might have changed since the date of the most recent contemporaneous valuation through the date of grant. Following the IPO, the Company uses the closing stock price on the date of grant as the exercise price.

On January 1, 2018, the Company issued 54,745 restricted shares of its common stock to each of its four outside directors (218,980 total shares). The restricted shares issued to the outside directors vested 25% at each quarter-end in 2018 and became fully vested at December 31, 2018.

To date, all stock options issued have been non-qualified stock options and the exercise prices were set at the fair value for the shares at the dates of grant. Options generally have a ten-year life, except for options to purchase 50,000 shares of the Company’s common stock granted to product consultants that expire within five years if the Company is not able to successfully file certain product submissions to the FDA prior to the five-year expiration date. Furthermore, these option awards to the Company’s product consultants do not vest unless certain product submissions are made to the FDA, and accordingly, the Company has not recorded any expense for these contingently vesting option awards to its product consultants.

For the periods ended December 31, 2018 and 2017, the Company’s total stock-based compensation expense was $1,850 and $1,761, respectively. Of these amounts, $1,770 and $1,735 was recorded in general and administrative expenses, respectively, and $80 and $26 was recorded in R&D expenses, respectively.

A summary of stock option activity is as follows:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Options outstanding as of December 31, 2017		1,090,000		$	1.24		9.7	$	151
Issued		225,000			4.26
Exercised		—			—
Forfeited/Cancelled		(20,000	)		0.21
Options outstanding as of December 31, 2018		1,295,000		$	1.78		8.3	$	5,627
Options exercisable at December 31, 2018		404,167		$	1.06		6.9	$	2,046
Options vested and expected to vest at December 31, 2018		1,245,000		$	1.79		8.3	$	5,390

The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the stock options and the fair value of the Company’s common stock for those stock options that had strike prices lower than the fair value of the Company’s common stock at December 31.

The assumptions used to calculate the fair value of options granted during the periods ended December 31, 2018 and 2017 under the BSM were as follows:

	December 31, 2018			December 31, 2017
Expected dividends		—	%		—	%
Expected volatility		85	%		85	%
Risk-free interest rate		2.8-2.9	%		1.7-2.3	%
Expected term		6.3 years			5.8-10 years
Weighted average fair value	$	3.39		$	0.91

Expected Term — The Company has opted to use the “simplified method” for estimating the expected term of options granted to employees and directors, whereby the expected term equals the arithmetic average of the vesting term and the original contractual term of the option (generally 10 years). The expected term of options granted to non-employees equals the contractual life of the options.

Expected Volatility — Due to the Company’s limited operating history and a lack of Company-specific historical and implied volatility data, the Company has based its estimate of expected volatility on the historical volatility of a group of similar companies that are publicly traded. The historical volatility data was computed using the daily closing prices for the selected companies’ shares during the equivalent period of the calculated expected term of the stock-based awards.

Risk-Free Interest Rate — The risk-free rate assumption is based on the U.S. Treasury instruments with maturities similar to the expected term of the Company’s stock options.

Expected Dividend — The Company has not issued any dividends in its history and does not expect to issue dividends over the life of the options and therefore has estimated the dividend yield to be zero.

Fair value of Common Stock — Prior to the Company’s IPO in November 2018, the fair value of the shares of common stock underlying the stock-based awards was determined by the board of directors, with input from management. Because there was no public market for the Company’s common stock, the board of directors determined the fair value of the common stock on the grant-date of the stock-based award by considering a number of objective and subjective factors, including enterprise valuations of the Company’s common stock performed by an unrelated third-party specialist, valuations of comparable companies, sales of the Company’s convertible preferred stock to unrelated third parties, operating and financial performance, the lack of liquidity of the Company’s capital stock, and general and industry-specific economic outlook. The board of directors intended all options granted to be exercisable at a price per share not less than the estimated per share fair value of common stock underlying those options on the date of grant. Following the IPO, the Company uses the closing stock price on the date of grant for the fair value of the common stock.

A summary of activity for RSAs and RSUs is as follows:

Restricted Stock Awards	Number of shares
Unvested as of December 31, 2017		2,500,000
Issued		218,980
Vested		(2,406,480	)
Forfeited/Cancelled		—
Unvested as of December 31, 2018		312,500

The weighted average grant date fair value of the RSAs issued was $1.37 and $0.21 during the periods ended December 31, 2018 and 2017, respectively. The fair value of the RSAs vested during the periods ended December 31, 2018 and 2017 was $2,784 and $0, respectively.

Restricted Stock Units	Number of shares
Unvested as of December 31, 2017		50,000
Issued		—
Vested		(50,000	)
Forfeited/Cancelled		—
Unvested as of December 31, 2018		—

The grant date fair value of the RSUs issued in 2017 was $1.38 and no RSUs were issued in 2018. The fair value of the RSUs vesting during the periods ended December 31, 2018 and 2017 was $69 and $69, respectively.

As of December 31, 2018, there was a total of $1,277, $59 and $0 of unrecognized compensation costs related to non-vested stock option awards, RSAs and RSUs, respectively. There were no exercises of stock options during the year ended December 31, 2018.

In December 2018, the Company’s board of directors adopted an initial offering of the Company’s common stock under the Company’s 2018 Employee Stock Purchase Plan (the “ESPP”). The Company’s ESPP provides for an initial reserve of 150,000 shares and this reserve is automatically increased on January 1 of each year by the lesser of 1% of the outstanding common shares at December 31 of the preceding year or 150,000 shares, subject to reduction at the discretion of the Company’s board of directors.

The initial offering began on December 17, 2018 and will end on December 10, 2019, unless terminated earlier pursuant to the ESPP. The initial offering will consist of two purchase periods, with the first purchase period ending on June 10, 2019 and the second purchase period ending on December 10, 2019. The terms of the ESPP permit employees of the Company to use payroll deductions to purchase stock at a price per share that is at least the lesser of (1) 85% of the fair market value of a share of common stock on the first date of an offering or (2) 85% of the fair market value of a share of common stock on the date of purchase. After the initial offering ends, subsequent twelve-month offering periods will automatically commence over the term of the ESPP on the day that immediately follows the conclusion of the preceding offering, each consisting of two purchase periods approximately six months in duration ending on or around June 10 and December 10 each year.

The weighted average grant date fair value of share awards in 2018 was $2.59 per share. Employees contributed $8 during 2018, which is included in accrued liabilities in the accompanying balance sheet, and the Company recorded an expense of $5 in 2018 related to the ESPP offering period that commenced on December 17, 2018.

Basic and Diluted Net Loss Per Common Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Basic and Diluted Net Loss Per Common Share

Note 10 — Basic and Diluted Net Loss per Common Share

Basic and diluted net loss per share is computed using the weighted average number of shares of common stock outstanding during the period. Common stock equivalents (using the treasury stock and “if converted” method) from stock options, unvested RSAs and RSUs, warrants and convertible preferred stock at December 31, 2018 and 2017 were 8,262,381 and 6,977,547, respectively, and are excluded from the calculation of diluted net loss per share because the effect is anti-dilutive. Included in the basic and diluted net loss per share calculation were RSUs awarded to directors that had vested, but the issuance and delivery of the shares are deferred until the director retires from service as a director.

The following table shows the computation of basic and diluted net loss per common share:

	Year ended December 31, 2018			Period from April 27, 2017 (inception) through December 31, 2017
Net loss	$	(12,740	)	$	(7,156	)
Series A Preferred – dividends (accrued and deemed)		(24,489	)		(1,483	)
Net loss attributable to common stockholders		(37,229	)	$	(8,639	)
Weighted average common shares outstanding (basic and diluted)		6,417,840			3,453,213
Net loss per common share (basic and diluted)	$	(5.80	)	$	(2.50	)

Related Party Transactions

12 Months Ended

Dec. 31, 2018

Related Party Transactions

Note 11 — Related Party Transactions

Harrow

Harrow was issued 3,500,000 shares of the Company’s common stock at the formation of the Company at the $0.001 par value per share price as the paid-in-capital contribution from Harrow. The Company and Harrow signed licensing agreements for two products developed by Harrow whereby Harrow assigned the product rights to the Company. The Company will pay Harrow a $50 milestone payment upon patent approval for each product and a royalty fee at a rate of six percent on the net sales of those two products. On December 26, 2017, one of the products had its patent approved and a $50 milestone fee was recognized as R&D expense by the Company in 2017 and paid to Harrow in January 2018. In July 2018, the Company determined the patent-approved product was not viable for its portfolio of product opportunities and Harrow paid the Company $50 to cancel the licensing agreement for the one product and retain the product rights at Harrow.

As part of the early start-up for the Company’s pharmaceutical business, key executives at Harrow received 1,500,000 shares of restricted common stock in the Company for consulting services and certain Harrow managers also received options to purchase 130,000 shares of common stock from the Company (20,000 of these options were forfeited in 2018). The restricted stock and stock options vested 100% after one year on April 30, 2018. The Company recorded stock-based compensation expense of $970 and $1,370 for the Harrow restricted common stock and $51 and $112 for Harrow stock options, respectively, for the periods ended December 31, 2018 and 2017 as a component of its general and administrative expenses.

Additionally, the Chief Executive Officer of Harrow is a member of the Company’s board of directors.

Chief Executive Officer

The CEO has a partial interest in several companies that the Company is working with for product development and potential marketing if the products are approved by the FDA as detailed below.

The Company acquired the exclusive rights to sell the EM-100 product in the United States pursuant to a sales and marketing agreement (the “Eyemax Agreement”) dated August 11, 2017 between the Company and Eyemax LLC, an entity affiliated with the CEO (“Eyemax”). The Company also held a right of first refusal to obtain the exclusive license rights for geographic areas outside of the United States. Pursuant to the Eyemax Agreement, the Company is responsible for all costs of testing and FDA approval of the product, other than the FDA filing fee which will be paid by Eyemax. The Company was also responsible for commercializing the product in the United States at its expense. The Company paid Eyemax $250 upon execution of the Eyemax Agreement, which was recorded as a component of R&D expense. Under the terms of the original agreement, the Company would pay Eyemax $250 upon FDA approval and $500 upon the first commercial sale of the product and pay Eyemax a royalty of 10% on the net sales of all products. The Eyemax Agreement was for an initial term of 10 years from the date of the Eyemax Agreement, subject to successive two-year renewals unless the Company elected to terminate the Eyemax Agreement. There were no amounts due under the terms of the Eyemax Agreement as of December 31, 2018 and 2017. On February 18, 2019 the Company entered into an Amended and Restated Agreement with Eyemax amending the terms of the prior Eyemax Agreement. See Note 15 “Subsequent Events” for more information on the Amended and Restated Agreement.

The Company acquired the exclusive rights to sell the DS-100 product in the United States pursuant to an exclusive development and supply agreement (the “Andersen Agreement”) dated July 9, 2017 between the Company and Andersen Pharma, LLC, an entity affiliated with the CEO (“Andersen”). The Company also holds an option to purchase the DS-100 product and all related intellectual property and government approvals at a price of one dollar. Pursuant to the Andersen Agreement, Andersen is responsible for obtaining FDA approval at its expense and manufacturing the product for sale to the Company at its cost. The Company is responsible for commercializing the product in the United States at its expense. The Company paid Andersen $750 upon execution of the Andersen Agreement, which was recorded as a component of R&D expense and will pay Andersen $750 upon successful completion of three registration batches of product, $750 upon submission of a New Drug Application (“NDA”) and $750 upon FDA approval. The Company will also pay Andersen 50% of the net profit from the sale of the product. The Andersen Agreement is for an initial term of five years from the first commercial sale of the product, subject to successive two-year renewals unless either party elects to terminate the Andersen Agreement. There were no amounts due under the terms of the Andersen Agreement as of December 31, 2018 or 2017. The aforementioned option to purchase the product and all related intellectual property and government approvals was considered to represent variable interest in the affiliated entity. The affiliated entity was not considered to be a variable interest entity.

The Company acquired the DS-200 product and all related intellectual property and government approvals pursuant to an asset purchase agreement (the “Selenix Agreement”) dated June 23, 2017 between the Company and Selenix LLC, an entity affiliated with the CEO (“Selenix”). Pursuant to the Selenix Agreement, the Company paid Selenix $1,500, which was recorded as a component of R&D expense and has agreed to pay $1,500 upon submission of an NDA and $1,000 upon FDA approval. The Company has also agreed to pay Selenix 50% of the net profit from the sale of the product for the first 10 years following the date of the Selenix Agreement. There were no amounts due under the terms of the Selenix Agreement as of December 31, 2018 or 2017.

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

Note 12 – Income Taxes

The provision for income taxes for the Company consists of the following for the periods ended December 31, 2018 and 2017:

	December 31, 2018			December 31, 2017
Current:
Federal	$	—		$	—
State		—			—
Total current expense		—			—

Deferred:
Federal		1,900			1,308
State		679			468
Change in valuation allowance		(2,579	)		(1,776	)
Total deferred expense		—			—
Total provision	$	—		$	—

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.

The significant components of the Company’s deferred tax assets as of December 31, 2018 and 2017 are as follows:

	December 31, 2018			December 31, 2017
Net operating losses	$	3,968		$	1,610
Stock-based expenses		233			102
Accruals and other		154			64
Total deferred tax assets		4,355			1,776
Valuation allowance		(4,355	)		(1,776	)
Net deferred tax assets	$	—		$	—

Based on the uncertainty of future taxable income at this time management believes a 100% valuation reserve for the $4,355 deferred tax asset is appropriate.

A reconciliation of the statutory federal tax rate to effective tax rate is shown below:

	Year ended December 31, 2018		Period from April 27, 2017 (inception) through December 31, 2017
Benefit at statutory rate		(21.0)%		(34.0)%
Permanent items (primarily warrants and stock compensation)		6.0		4.4
State tax benefit		(5.3)		(5.5)
Federal rate change		—		10.2
Other items		—		—
Establishment of valuation allowance		20.3		24.9
Income tax expense		—%		—%

The Tax Act significantly revised U.S. corporate income tax law by, among other things, reducing the corporate income tax rate from 34% to 21% and implementing a modified territorial tax system. Implementation of the Tax Act resulted in a $733 charge for the revaluation of the Company’s net deferred tax assets offset by a corresponding $733 reduction in the valuation reserve for income taxes during the period ended December 31, 2017.

The Company has a federal and state NOL carryforward of $13,921 as of December 31, 2018, of which $5,648 will begin to expire in 2037 and 2039, respectively. Under the Tax Act, federal NOLs incurred in taxable years ending after December 31, 2017, may be carried forward indefinitely, but the deductibility of federal NOLs generated in tax years beginning after December 31, 2017, is limited. It is uncertain if and to what extent various states will conform to the Tax Act.

In addition, under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended, and corresponding provisions of state law, if a corporation undergoes an “ownership change,” which is generally defined as a greater than 50% change (by value) in its equity ownership over a three-year period, the corporation’s ability to use its pre-change NOL carryforwards and other pre-change tax attributes (such as research tax credits) to offset its post-change income may be limited. The Company is currently performing a study to determine if it has triggered an “ownership change” limitation at the completion of its IPO in November 2018.

Employee Savings Plan

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Employee Savings Plan

Note 13 - Employee Savings Plan

The Company established an employee savings plan pursuant to Section 401(k) of the Internal Revenue Code, effective January 1, 2018. The plan allows participating employees to deposit into tax deferred investment accounts up to 100% of their salary, subject to annual limits. The Company makes certain matching contributions to the plan in amounts up to 4% of the participants’ annual cash compensation, subject to annual limits. For the periods ended December 31, 2018 and 2017, the Company made $62 and $0 in matching contributions, respectively.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 14 — Commitments and Contingencies

Legal

The Company is subject to legal proceedings and claims that may arise in the ordinary course of business. The Company is not aware of any pending or threatened litigation matters at this time that may have a material impact on the operations of the Company.

Leases

On January 12, 2018, the Company signed an amended lease agreement to lease additional office space adjacent to its current corporate office space in Deer Park, Illinois. The amended lease runs through the end of March 2021.

On March 7, 2018, the Company entered into a lease for laboratory space at a complex in Lake Zurich, Illinois. The lease commenced on March 7, 2018 and runs through the end of February 2021.

For the periods ended December 31, 2018 and 2017, the Company recorded $115 and $14, respectively, in rent expense.

The Company’s lease commitments for its administrative offices in Deer Park, Illinois and its laboratory facility in Lake Zurich, Illinois for 2019 and beyond are as indicated below:

Total		2019		2020		2021		Thereafter
$	308	$	137	$	140	$	31	$	—

License and Product Development Agreements

The Company has entered into various agreements in addition to those discussed above which are described below.

The Company entered into a contract for development and production of its CT-100 product with an unaffiliated third party on November 7, 2017. Pursuant to the agreement, the third party is responsible for development and production of the product and for obtaining FDA approval and the Company is responsible for commercializing the product in the United States. The Company will pay the third party 30% of the net profits from the sale of the product. The initial term is for the first 10 years following the first commercial sale of the product.

The Company acquired the exclusive rights to sell the DS-300 product in the United States pursuant to a sales and marketing agreement dated November 17, 2017 with an unaffiliated third party (the “Sales Agreement”). Pursuant to the Sales Agreement, the licensor is responsible for obtaining FDA approval, at its expense, and the Company is responsible for commercializing the product in the United States at its expense. The Company will pay the third party 50% of the net profit from the sale of the product. The initial term is for the first 10 years following the first commercial sale of the product.

The Company entered into a contract with a clinical research organization (“CRO”) for clinical studies on its EM-100 product candidate and those studies were completed in 2018. The Company paid milestones at each phase of completion of the clinical study. Total milestone payments under the contract were $1,104 and the study was completed in August 2018.

The Company acquired the exclusive license to develop, manufacture and sell ET-103 in the United States pursuant to an Exclusive License and Supply Agreement dated August 3, 2018 between the Company and Liqmeds Worldwide Limited, an unaffiliated entity. Pursuant to the agreement, the Company will be responsible for, and shall own, all regulatory filings and approvals at its expense, provided that it shall have the right to recoup 35% of any regulatory filing fees from the initial profits from the sale of ET-103 and, provided further, the licensor shall be responsible for any bioequivalence study and shall be responsible for 60% of the costs of such study. An affiliate of the licensor shall manufacture the ET-103 and sell it to the Company at its cost. The Company paid the licensor $350 upon execution of the agreement and will pay the licensor $1,500 upon the FDA’s acceptance of an NDA for review, $1,000 upon FDA approval, $1,500 upon issuance of patent covering ET-103 listed in the FDA’s Orange Book and $500 in the event of product sales in excess of $10,000 in any calendar year. In addition, the Company is required to pay the licensor 35% of the net profit from product sales. The license agreement is for an initial term of 10 years from the date of the first commercial sale of the product, subject to two-year renewals unless either party elects to terminate no less than 12 months prior to the then current term. The agreement also contains customary representations, warranties, covenants and indemnities by the parties.

Indemnification

As permitted under Delaware law and in accordance with the Company’s Amended and Restated Bylaws, the Company is required to indemnify its officers and directors for certain events or occurrences while the officer or director is or was serving in such capacity. The Company is also party to indemnification agreements with its directors and officers. The Company believes the fair value of the indemnification rights and agreements is minimal. Accordingly, the Company has not recorded any liabilities for these indemnification rights and agreements as of December 31, 2018 or 2017.

Subsequent Events

12 Months Ended

Dec. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

Note 15 — Subsequent Events

The Company has performed an evaluation of events occurring subsequent to December 31, 2018 through the filing date of this Annual Report. Based on its evaluation, nothing other than the events described below need to be disclosed.

On January 23, 2019, the Company entered into a Licensing and Supply Agreement (the “Agreement”) with Liqmeds Worldwide Limited (“LMW”) for ET-104 oral liquid, a development stage product candidate (“ET-104”). Pursuant to the terms of the Agreement, Eton will be responsible for regulatory and marketing activities. LMW will be responsible for development and manufacturing of ET-104. Eton is obligated to pay to LMW licensing payments of up to $2.5 million based on achievement of the following milestones:

	●	$350,000 upon execution of the Agreement;

	●	$350,000 upon successful bioequivalence study results;

	●	$325,000 upon NDA acceptance for review by the FDA;

	●	$325,000 upon NDA approval;

	●	$650,000 upon issuance of patent listed in the FDA’s Orange Book; and

	●	$500,000 when product sales first exceed $10 million in a calendar year.

Eton will also pay to LMW 35% of product profit from commercial sales. The Agreement has a ten-year term, and Eton will retain sole ownership of the NDA after expiration of the Agreement.

On February 8, 2019, the Company entered into an Exclusive Licensing and Supply Agreement (the “ET-202 License Agreement”) with Sintetica SA (“Sintetica”) for marketing rights in the United States to ET-202, an injectable product candidate for use in the hospital setting that has been submitted to the FDA for review. Pursuant to the terms of the Agreement, Eton will be responsible for marketing activities and Sintetica will be responsible for development, manufacturing, and regulatory activities related to obtaining regulatory approval. Eton will pay to Sintetica a licensing payment of $2,000,000 upon execution of the agreement and $750,000 upon FDA approval of the product candidate. Upon approval, Sintetica will supply ET-202 to Eton at its direct costs. Eton will retain 5% of net sales as a marketing fee. Sintetica will be entitled to receive the first $500,000 of product profits. All additional profit will be split 50% to Eton and 50% to Sintetica. The agreement has a ten-year term from first commercial sale of product.

On February 8, 2019, the Company also entered into an Exclusive Licensing and Supply Agreement (the “ET-203 License Agreement”) with Sintetica for marketing rights in the United States to ET-203, an injectable product candidate for use in the hospital setting. Pursuant to the terms of the Agreement, Eton will be responsible for marketing activities and Sintetica will be responsible for development, manufacturing, and regulatory activities related to obtaining regulatory approval. Eton will pay to Sintetica a licensing payment of $1,000,000 upon execution of the agreement and $750,000 upon FDA approval of the product candidate. Upon approval, Sintetica will supply ET-202 to Eton at its direct costs. Eton will retain 5% of net sales as a marketing fee. Sintetica will be entitled to receive the first $500,000 of product profits. All additional profit will be split 50% to Eton and 50% to Sintetica. The agreement has a ten-year term from first commercial sale of product.

On February 18, 2019, the Company entered into an Amended and Restated Agreement with Eyemax amending the Sales Agreement (the “Amended Agreement”). Pursuant to the Amended Agreement, Eyemax sold Eton all of its right, title and interest in EM-100, including any such product that incorporates or utilizes Eyemax’s intellectual property rights. Under the Amended Agreement, Eton assumed certain liabilities of Eyemax under its Exclusive Development & Supply Agreement with Excelvision SAS dated as of July 11, 2013, as amended (the “Excelvision Agreement”), with respect to certain territories and arising during certain time periods. Pursuant to the Amended Agreement, the Company remain obligated to pay Eyemax two milestones: (i) one milestone payment for $250,000 upon regulatory approval in the territory by the FDA of the first single agent product and (ii) one milestone payment for $500,000 following the first commercial sale of the first single agent product in the territory. Following payment of the milestones, Eton is entitled to retain all of the non-royalty transaction revenues and royalties up to $2,000,000 (the “Recovery Amount”). After the Company has retained the full Recovery Amount, it is entitled to retain half of all royalty and non-royalty transaction revenue. The Amended Agreement also contains customary representations, warranties, covenants and indemnities by the parties. The Company’s CEO, Sean Brynjelsen, has a 33% ownership interest in Eyemax.

In conjunction with the Amended Agreement with Eyemax, on February 18, 2019, the Company entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Bausch Health Ireland Limited (“Bausch”). Pursuant to the Asset Purchase Agreement, Eton sold all of its right, title and interest in EM-100 in the United States, including any such product that incorporates or utilizes its intellectual property rights with respect to EM-100. Under the Asset Purchase Agreement, Bausch assumed all of Eton’s liabilities under the Excelvision Agreement, related to the United States and arising during certain time periods. Pursuant to the Asset Purchase Agreement, Bausch paid Eton an upfront payment of $500,000 and Bausch is required to pay the Company commercial milestone payments of up to $2,500,000. Additionally, Bausch is required to pay Eton a royalty in the low-double digit percentage range on net sales for a period of 10 years from the date of the first commercial sale of the first single agent EM-100 product in the United States. In the event that any product with the same sole active ingredient as EM-100 is launched in the United States by any person other than Bausch (or its affiliates) during the term of Bausch’s royalty commitment, then the royalty rate will be reduced to a lower specified percentage. In the event that EM-100’s market share in the territory falls below a certain percentage of the target market during the term of Bausch’s royalty commitment, then the royalty rate will be further reduced to a lower specified percentage. The Asset Purchase Agreement also contains customary representations, warranties, covenants and indemnities by the parties.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	*Basis of Presentation* The Company has prepared the accompanying financial statements in accordance with accounting principles generally accepted in the United States (“GAAP”).
Use of Estimates	*Use of Estimates* The preparation of financial statements in conformity with 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 revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of common stock, stock options, warrants and derivative instruments. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates or assumptions.
Segment Information	*Segment Information* The Company operates the business on the basis of a single reportable segment, which is the business of developing and commercializing prescription drug products. The Company’s chief operating decision-maker is the Chief Executive Officer (“CEO”), who evaluates the Company as a single operating segment.
Cash and Cash Equivalents	*Cash and Cash Equivalents* The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. All cash and cash equivalents are held in U.S. financial institutions. Cash equivalents consist of an interest-bearing checking account. From time to time, amounts deposited exceed federally insured limits. The Company believes the associated credit risk to be minimal.
Property and Equipment	*Property and Equipment* Property and equipment are stated at cost. Depreciation of property and equipment is computed utilizing the straight-line method based on the following estimated useful lives. Computer software and hardware is depreciated over three years. Equipment, furniture and fixtures is depreciated over five years. Leasehold improvements are amortized over their estimated useful lives or the remaining lease term, whichever is shorter. Construction in progress is capitalized but not depreciated until it is placed into service. Maintenance and repairs are charged to expense as incurred, while renewals and improvements are capitalized.
Impairment of Long-Lived Assets	*Impairment of Long-Lived Assets* Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the Company’s statements of operations for the amount by which the carrying amount of the asset exceeds the fair value of the asset. No impairment was recognized during the periods ended December 31, 2018 and 2017.
Classification and Accretion of Redeemable Convertible Preferred Stock	*Classification and Accretion of Redeemable Convertible Preferred Stock* Prior to the Company’s IPO in November 2018, the Company had classified the Series A Preferred outside of stockholders’ equity (deficit) because the shares contained certain redemption features that were not solely within the control of the Company. The carrying value of the Series A Preferred was accreted to its redemption value from the date of issuance through November 15, 2018, the date of the Company’s IPO. In conjunction with the IPO, the Series A Preferred, including accrued and unpaid dividends, automatically converted to shares of the Company’s common stock (see Note 6).
Beneficial Conversion Feature	*Beneficial Conversion Feature* Prior to the IPO in November 2018, the Company classified its Series A Preferred as temporary equity due to a possible cash redemption feature in the event that an IPO or alternate financing was not completed by December 31, 2018. At the IPO date, the Series A Preferred, and related accrued and unpaid dividends, automatically converted into shares of the Company’s common stock. The conversion share calculation was based on the $3.00 initial issuance price for the Series A Preferred plus any accrued but unpaid dividends and converted to common stock using a stated divisor conversion price equal to 50% of the IPO price to the public, which was $6.00 per share. In accordance with relevant accounting literature, since the stated terms of the conversion option did not permit the Company to compute the additional number of shares that it would need to issue upon conversion of the Series A Preferred when the contingent event occurred, the Company recorded the beneficial conversion amount of $21,747 as a deemed dividend at the date of the IPO in November 2018.
Leases	*Leases* Leases are categorized as either operating or capital leases at inception. Operating lease costs are recognized on a straight-line basis over the term of the lease. An asset and a corresponding liability for the capital lease obligation are established for the cost of capital leases. The capital lease obligation is amortized over the life of the lease. The Company does not have any capital leases as of December 31, 2018 and 2017.
Patent Costs	*Patent Costs* All patent-related costs incurred in connection with filing and prosecuting patent applications are expensed as incurred due to the uncertainty about the recovery of the expenditure. Amounts incurred are classified as general and administrative expenses.
Significant Suppliers	*Significant Suppliers* The Company is dependent on third-party vendors for its product candidates. In particular, the Company relies, and expects to continue to rely, on a small number of vendors to manufacture key chemicals and process its product candidates for its development programs. These programs could be adversely affected by a significant interruption in the manufacturing process.
Research and Development Expenses	*Research and Development Expenses* Research and development (“R&D”) expenses include both internal R&D activities and external contracted services. Internal R&D activity expenses include salaries, benefits and stock-based compensation and other costs to support the Company’s R&D operations. External contracted services include product development efforts such as certain product licensor milestone payments, clinical trial activities, manufacturing and control-related activities and regulatory costs. R&D expenses are charged to operations as incurred. The Company reviews and accrues R&D expenses based on services performed and relies upon estimates of those costs applicable to the stage of completion of each project. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period. Actual results could differ from the Company’s estimates. Upfront payments and milestone payments made for the licensing of technology for products that are not yet approved by the FDA are expensed as R&D in the period in which they are incurred. Nonrefundable advance payments for goods or services to be received in the future for use in R&D activities are recorded as prepaid expenses and are expensed as the related goods are delivered or the services are performed.
Earnings (Loss) Per Share	*Earnings (Loss) Per Share* Basic net loss per common share is computed by dividing net loss attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders for the period by the weighted average number of common and common equivalent shares, such as Series A Preferred, unvested restricted stock, stock options and warrants that are outstanding during the period. Common stock equivalents are excluded from the computation when their inclusion would be anti-dilutive. No such adjustments were made for 2018 or 2017 as the Company reported a net loss for the periods ended December 31, 2018 and 2017 and including the effects of common stock equivalents in the diluted earnings per share calculation would have been antidilutive (See Note 10).
Warrant Liability	*Warrant Liability* The Company estimated the fair value of certain warrants at each reporting period using Level 3 inputs. The estimates in valuation models were based, in part, on subjective assumptions, including but not limited to stock price volatility, the expected life of the warrants, the risk-free interest rate and the exercise price of the warrants, and could differ materially in the future. Changes in the fair value of the warrant liability during the period were recorded as a component of other income (expense) at the end of each reporting period for changes in fair value until the Company’s IPO in November 2018, which established a fixed number of shares for these warrants. At the date of the IPO, the warrant liability amount was reclassified as a component of additional paid-in-capital.
Stock-Based Compensation	*Stock-Based Compensation* The Company accounts for stock-based compensation under the provisions of the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) — 718 Compensation — Stock Compensation. The guidance under ASC 718 requires companies to estimate the fair value of the stock-based compensation awards on the date of grant for employees and directors and record expense over the related service periods, which are generally the vesting period of the equity awards. Awards for consultants are accounted for under ASC 505-50 — Equity Based Payments to Non-Employees. Compensation expense is recognized over the period during which services are rendered by such consultants and non-employees until completed. At the end of each financial reporting period prior to completion of the service, the fair value of these awards is remeasured using the then-current fair value of the Company’s common stock and updated assumption inputs in the Black-Scholes-Merton option-pricing model (“BSM”). The Company estimates the fair value of stock-based option awards to its employees and directors using the BSM. The BSM requires the input of subjective assumptions, including the expected stock price volatility, the calculation of expected term, forfeitures and the fair value of the underlying common stock on the date of grant, among other inputs. The risk-free interest rate was determined from the implied yields for zero-coupon U.S. government issues with a remaining term approximating the expected life of the options or warrants. Dividends on common stock are assumed to be zero for the BSM valuation of the stock options. The expected term of stock options granted is based on vesting periods and the contractual life of the options. Expected volatilities are based on comparable companies’ historical volatility, which management believes represents the most accurate basis for estimating expected future volatility under the current conditions. The Company accounts for forfeitures as they occur. Prior to the IPO, the fair value of the shares of the Company’s common stock underlying its stock-based awards was determined by its board of directors, with input from management. Because there had been no public market for the Company’s common stock prior to the IPO, the board of directors had determined the fair value of the common stock on the grant-date of the stock-based award by considering a number of objective and subjective factors, including enterprise valuations of its common stock performed by an unrelated third-party specialist, valuations of comparable companies, sales of its convertible preferred stock to unrelated third parties, operating and financial performance, the lack of liquidity of the capital stock, and general and industry-specific economic outlook. Following the IPO in November 2018, the Company uses the closing stock price on the date of grant for the fair value of the common stock.
Income Taxes	*Income Taxes* As part of the process of preparing the Company’s financial statements, the Company must estimate the actual current tax liabilities and assess temporary differences resulting from differing treatment of items for tax and accounting purposes. These differences result in deferred tax assets and liabilities, which are included within the balance sheets. The Company must assess the likelihood that the deferred tax assets will be recovered from future taxable income and, to the extent the Company believes that recovery is not likely, a valuation allowance must be established. To the extent the Company establishes a valuation allowance or increase or decrease to this allowance in a period, the impact will be included in income tax expense in the statement of operations. As of December 31, 2018 and 2017, the Company has established a 100% valuation reserve against its deferred tax assets. The Company accounts for income taxes under the provisions of FASB ASC 740 - Income Taxes. As of December 31, 2018 and 2017, there was no unrecognized tax benefits included in the balance sheet that would, if recognized, affect the effective tax rate. The Company’s practice is to recognize interest and penalties related to income tax matters in income tax expense. The Company had no accrual for interest or penalties in its balance sheet at December 31, 2018 or 2017, and has not recognized interest and penalties in the statements of operations for the periods ended December 31, 2018 and 2017. As of December 31, 2018, the Company is subject to taxation in the United States and Illinois. The Company’s tax loss from 2018 and 2017 is subject to examination by the federal and state tax authorities due to the carryforward of unutilized net operating losses (“NOLs”). The Tax Cuts and Jobs Act of 2017 (the “Tax Act”) significantly revised U.S. corporate income tax law by, among other things, reducing the corporate income tax rate to 21% and implementing a modified territorial tax system. In response to the Tax Act, the SEC issued Staff Accounting Bulletin (“SAB”) 118 which allows issuers to recognize provisional estimates of the impact of the Tax Act in their financial statements and adjust in the period in which the estimate becomes finalized, or in circumstances where estimates cannot be made, to disclose and recognize within a one-year measurement period. Implementation of the Tax Act resulted in a $733 charge for the revaluation of the Company’s net deferred tax assets offset by a corresponding $733 reduction in the valuation reserve for income taxes during the period ended December 31, 2017. Current accounting standards include guidance on the accounting for uncertainty in income taxes recognized in the financial statements. Such standards also prescribe a recognition threshold and measurement model for the financial statement recognition of a tax position taken, or expected to be taken, and provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company believes that the ultimate deductibility of all tax positions is highly certain, although there is uncertainty about the timing of such deductibility. As a result, no liability for uncertain tax positions was recorded as of December 31, 2018 or 2017.
Fair Value Measurements	*Fair Value Measurements* We measure certain of our assets and liabilities at fair value. Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value accounting requires characterization of the inputs used to measure fair value into a three-level fair value hierarchy as follows: *Level 1* — Inputs based on quoted prices in active markets for identical assets or liabilities. An active market is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. *Level 2* — Observable inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent from the entity. *Level 3* — Unobservable inputs that reflect the entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available. Fair value measurements are classified based on the lowest level of input that is significant to the measurement. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, which may affect the valuation of the assets and liabilities and their placement within the fair value hierarchy levels. The determination of the fair values stated below takes into account the market for the Company’s financials, assets and liabilities, the associated credit risk and other factors as required. The Company considers active markets as those in which transactions for the assets or liabilities occur in sufficient frequency and volume to provide pricing information on an ongoing basis. The carrying amounts of cash and cash equivalents, accounts payable and accrued liabilities approximate their fair values due to the short-term maturities of these instruments. The fair values of the Company’s warrant liability at inception and for subsequent mark-to-market fair value measurements were based on management’s valuation model and expectations with respect to the method and timing of settlement. The Company had determined that the warrant liability fair values were classified as Level 3 measurements within the fair value hierarchy. At the date of the Company’s IPO in November 2018, the fair value was reclassified to additional paid-in-capital as the final number of shares for the warrants previously reflected as a liability became fixed (see Note 4).
Impact of New Accounting Pronouncements	*Impact of New Accounting Pronouncements* In February 2016, the FASB issued ASU 2016-02 (Topic 842) – Leases, which requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, with terms more than 12 months to be recognized as assets and liabilities on the balance sheet. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendments also require certain quantitative and qualitative disclosures about leasing arrangements. ASU 2016-02 is effective for reporting periods beginning after December 15, 2018 with early adoption permitted. While the Company is still evaluating ASU 2016-02, the Company expects the adoption of ASU 2016-02 will not have a material effect on the Company’s financial condition from the recognition of the lease rights and obligations as assets and liabilities. The Company is currently evaluating ASU 2016-02 to determine the effect on the Company’s results of operations and cash flows. In June 2018, the FASB issued ASU 2018-07, Compensation — Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which simplifies the accounting for nonemployee share-based payment transactions. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. ASU 2018-07 will be effective for financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years with early adoption permitted (but no sooner than the adoption of Topic 606). The Company is currently evaluating ASU 2018-07 to determine the effect on the Company’s financial statements. In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders’ equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders’ equity presented in the balance sheet must be provided in a note or separate statement. The analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of operations is required to be filed. This final rule became effective on November 5, 2018. On September 25, 2018, the SEC released guidance advising that it will not object to a registrant adopting the requirement to include changes in stockholders’ equity in the Form 10-Q for the first quarter beginning after the effective date of the rule. The Company does not expect the adoption of SEC Release No. 33-10532 to have a material impact on its financial position, results of operations and related disclosures. The Company anticipates adopting SEC Release No. 33-10532 in its Form 10-Q filing for the quarter ending March 31, 2019.

Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Fair Value Measurements as of December 31, 2018 Using:

Level 1

Level 2

Level 3

Total

Liabilities:

Warrant liability

—

	Fair Value Measurements as of December 31, 2017 Using:
	Level 1		Level 2		Level 3		Total
Liabilities:
Warrant liability	$	—	$	—	$	520	$	520

Schedule of Aggregate Fair Values of Warrant Liability, Unobservable Input Reconciliation

The following table provides a roll forward of the aggregate fair values of the Company’s warrant liability, for which fair value is determined using Level 3 inputs:

	Year ended December 31, 2018			Period from April 27, 2017 (inception) to December 31, 2017
Balance as of the beginning of the period	$	520			—
Initial fair value of warrant liability		—			479
Change in fair value		2,583			41
Warrant liability reclassified to additional paid-in-capital		(3,103	)		—
Balance as of the end of the period	$	—			520

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment consist of the following:

	December 31, 2018			December 31, 2017
Computer hardware and software	$	93		$	46
Furniture and fixtures		98			42
Equipment		99			—
Leasehold improvements		53			42
Construction in progress		492			—
		835			130
Less: accumulated depreciation		(62	)		(11	)
Property and equipment, net	$	773		$	119

Redeemable Convertible Preferred Stock - Series A (Tables)

12 Months Ended

Dec. 31, 2018

Temporary Equity Disclosure [Abstract]

Summary of Reconciliation of Carrying Value of Series A Preferred Stock

The following is a reconciliation of the carrying value of the Series A Preferred (in thousands):

	December 31, 2018			December 31, 2017
Gross proceeds from Series A Preferred offering	$	20,055		$	20,055
Issuance costs – cash		(2,055	)		(2,055	)
Issuance costs – common stock warrants		(479	)		(479	)
Accrued dividends on Series A Preferred		1,691			643
Deemed dividends for accretion of Series A Preferred issuance costs		2,534			840
Automatic conversion to common shares at the IPO date		(21,746	)		—
Balance as of the end of the period	$	—		$	19,004

Common Stock Warrants (Tables)

12 Months Ended

Dec. 31, 2018

Warrants and Rights Note Disclosure [Abstract]

Summary of Warrants Outstanding

Listed below is a summary of warrants outstanding as of December 31, 2018:

Description of Warrants	No. of Shares		Exercise Price
Business Advisory Warrants		600,000	$	0.01
Placement Agent Warrants - Series A Preferred		704,184	$	3.00
Placement Agent Warrants - IPO		414,000	$	7.50
Total		1,718,184	$	3.04 (Avg)

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details

Share-Based Payment Awards (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

A summary of stock option activity is as follows:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Options outstanding as of December 31, 2017		1,090,000		$	1.24		9.7	$	151
Issued		225,000			4.26
Exercised		—			—
Forfeited/Cancelled		(20,000	)		0.21
Options outstanding as of December 31, 2018		1,295,000		$	1.78		8.3	$	5,627
Options exercisable at December 31, 2018		404,167		$	1.06		6.9	$	2,046
Options vested and expected to vest at December 31, 2018		1,245,000		$	1.79		8.3	$	5,390

Schedule of Assumptions Used to Calculate Fair Value of Options Granted

The assumptions used to calculate the fair value of options granted during the periods ended December 31, 2018 and 2017 under the BSM were as follows:

	December 31, 2018			December 31, 2017
Expected dividends		—	%		—	%
Expected volatility		85	%		85	%
Risk-free interest rate		2.8-2.9	%		1.7-2.3	%
Expected term		6.3 years			5.8-10 years
Weighted average fair value	$	3.39		$	0.91

Summary of Activity for Restricted Stock Awards

A summary of activity for RSAs and RSUs is as follows:

Restricted Stock Awards	Number of shares
Unvested as of December 31, 2017		2,500,000
Issued		218,980
Vested		(2,406,480	)
Forfeited/Cancelled		—
Unvested as of December 31, 2018		312,500

Summary of Activity for Restricted Stock Units

Restricted Stock Units	Number of shares
Unvested as of December 31, 2017		50,000
Issued		—
Vested		(50,000	)
Forfeited/Cancelled		—
Unvested as of December 31, 2018		—

Basic and Diluted Net Loss Per Common Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Loss Per Common Share

The following table shows the computation of basic and diluted net loss per common share:

	Year ended December 31, 2018			Period from April 27, 2017 (inception) through December 31, 2017
Net loss	$	(12,740	)	$	(7,156	)
Series A Preferred – dividends (accrued and deemed)		(24,489	)		(1,483	)
Net loss attributable to common stockholders		(37,229	)	$	(8,639	)
Weighted average common shares outstanding (basic and diluted)		6,417,840			3,453,213
Net loss per common share (basic and diluted)	$	(5.80	)	$	(2.50	)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes for the Company consists of the following for the periods ended December 31, 2018 and 2017:

	December 31, 2018			December 31, 2017
Current:
Federal	$	—		$	—
State		—			—
Total current expense		—			—

Deferred:
Federal		1,900			1,308
State		679			468
Change in valuation allowance		(2,579	)		(1,776	)
Total deferred expense		—			—
Total Provision	$	—		$	—

Schedule of Deferred Tax Assets

The significant components of the Company’s deferred tax assets as of December 31, 2018 and 2017 are as follows:

	December 31, 2018			December 31, 2017
Net operating losses	$	3,968		$	1,610
Stock-based expenses		233			102
Accruals and other		154			64
Total deferred tax assets		4,355			1,776
Valuation allowance		(4,355	)		(1,776	)
Net deferred tax assets	$	—		$	—

Schedule of Reconciliation of Statutory Federal Tax Rate

A reconciliation of the statutory federal tax rate to effective tax rate is shown below:

	Year ended December 31, 2018		Period from April 27, 2017 (inception) through December 31, 2017
Benefit at statutory rate		(21.0)%		(34.0)%
Permanent items (primarily warrants and stock compensation)		6.0		4.4
State tax benefit		(5.3)		(5.5)
Federal rate change		—		10.2
Other items		—		—
Establishment of valuation allowance		20.3		24.9
Income tax expense		—%		—%

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of Lease Commitments

The Company’s lease commitments for its administrative offices in Deer Park, Illinois and its laboratory facility in Lake Zurich, Illinois for 2019 and beyond are as indicated below:

Total				2019				2020				2021				Thereafter
$	308			$	137			$	140			$	31			$	—

Company Overview (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		8 Months Ended	12 Months Ended
	Nov. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2018
Start-up capital			$ 18,000
Net cash proceeds from initial public offering				$ 22,803
Initial Public Offering [Member]
Stock issued during period	4,140,000
Common stock share price per share	$ 6.00			$ 3.00
Net cash proceeds from initial public offering	$ 21,960
Series A Redeemable Convertible Preferred Stock [Member]
Start-up capital		$ 20,055

Liquidity Considerations (Details Narrative) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (8,639)	$ (45,868)
Net cash used in operating activities	$ (4,718)	$ (8,145)

Summary of Significant Accounting Policies (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	8 Months Ended		12 Months Ended
	Nov. 30, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Jun. 30, 2017
Impairment of Long-Lived Assets
Percentage for valuation reserve against deferred tax assets				100.00%
Corporate income tax rate		34.00%		21.00%
Charge for revaluation net deferred tax assets			733
Valuation reserve for income taxes			$ 733
Redeemable Convertible Preferred Stock - Series A [Member]
Share issue initial price per share					$ 3.00
Initial Public Offering [Member]
Beneficial conversion amount	$ 21,747
Share issue initial price per share	$ 6.00	$ 3.00		$ 3.00
Initial Public Offering [Member] \| Redeemable Convertible Preferred Stock - Series A [Member]
Beneficial conversion amount				$ 21,747
Share issue initial price per share		$ 6.00		$ 6.00
Percentage of common stock issue price for conversion				50.00%
Computer Software and Hardware [Member]
Estimated useful lives for property and equipment				3 years
Equipment, Furniture and Fixtures [Member]
Estimated useful lives for property and equipment				5 years
Leasehold Improvements [Member]
Estimated useful lives for property and equipment, description				estimated useful lives or the remaining lease term

Fair Value of Financial Assets and Liabilities (Details Narrative) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Transfers between levels	$ 0	$ 0
Expected dividend yield	0.00%	0.00%

Fair Value of Financial Assets and Liabilities - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Warrant liability		$ 520
Level 1 [Member]
Warrant liability
Level 2 [Member]
Warrant liability
Level 3 [Member]
Warrant liability		$ 520

Fair Value of Financial Assets and Liabilities - Schedule of Aggregate Fair Values of Warrant Liability, Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Balance as of the beginning of the period		$ 520
Initial fair value of warrant liability	479
Change in fair value	41	2,583
Warrant liability reclassified to additional paid-in-capital		(3,103)
Balance as of the end of the period	$ 520

Property and Equipment (Details Narrative) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 11	$ 51

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Computer hardware and software	$ 93	$ 46
Furniture and fixtures	98	42
Equipment	99
Leasehold improvements	53	42
Construction in progress	492
Property and equipment, gross	835	130
Less: accumulated depreciation	(62)	(11)
Property and equipment, net	$ 773	$ 119

Redeemable Convertible Preferred Stock - Series A (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	8 Months Ended	12 Months Ended
	Nov. 30, 2018	Dec. 31, 2017	Dec. 31, 2018	Nov. 15, 2018	Jun. 30, 2017
Preferred stock, shares authorized		10,000,000	10,000,000
Preferred stock, par value		$ 0.001	$ 0.001
Preferred stock, shares issued		6,685,082
Gross proceeds from Series A Preferred offering		$ 18,000
Preferred stock, liquidation value		20,698	0
Preferred stock, issued amount		19,004
Preferred stock, accrued dividends		643	1,691
Accretion of dividends as deemed		840	$ 2,534
Initial Public Offering [Member]
Share issue price per share	$ 6.00		$ 3.00
Beneficial conversion amount	$ 21,747
Common Stock [Member] \| Initial Public Offering [Member]
Share issue price per share			$ 3.00
Redeemable Convertible Preferred Stock - Series A [Member]
Preferred stock, shares authorized			10,000,000
Preferred stock, par value			$ 0.001
Preferred stock, shares issued					6,685,082
Share issue price per share					$ 3.00
Gross proceeds from Series A Preferred offering			$ 20,055
Preferred stock, liquidation value		20,698
Preferred stock, issued amount		20,055
Preferred stock, accrued dividends		$ 643
Redeemable Convertible Preferred Stock - Series A [Member] \| Initial Public Offering [Member]
Share issue price per share			$ 6.00
Preferred stock, liquidation value				$ 21,746
Preferred stock, issued amount				20,055
Preferred stock, accrued dividends				$ 1,691
Percentage of common stock issue price for conversion			50.00%
Beneficial conversion amount			$ 21,747
Accretion of dividends as deemed			$ 2,534

Redeemable Convertible Preferred Stock - Series A - Summary of Reconciliation of Carrying Value of Series A Preferred Stock (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Temporary Equity Disclosure [Abstract]
Gross proceeds from Series A Preferred offering	$ 20,055	$ 20,055
Issuance costs - cash	(2,055)	(2,055)
Issuance costs - common stock warrants	(479)	(479)
Accrued dividends on Series A Preferred	643	1,691
Deemed dividends for accretion of Series A Preferred issuance costs	840	2,534
Automatic conversion to common shares at the IPO date		(21,746)
Balance as of the end of the period	$ 19,004

Common Stock (Details Narrative) $ / shares in Units, $ in Thousands		1 Months Ended		8 Months Ended	12 Months Ended
	Jan. 02, 2018 Director shares	Nov. 30, 2018 shares	May 31, 2017 shares	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) $ / shares shares
Common stock, shares authorized				50,000,000	50,000,000
Common stock, par value \| $ / shares				$ 0.001	$ 0.001
Share based compensation expense \| $				$ 1,761	$ 1,850
Initial Public Offering [Member]
Number of common stock issued		4,140,000
Series A Preferred Stock [Member] \| Initial Public Offering [Member]
Conversion of common stock converted					7,248,948
Investors [Member] \| Initial Public Offering [Member]
Number of common stock issued					4,140,000
Restricted Stock [Member] \| Certain Executives and Staff [Member]
Number of common stock issued			1,500,000
Restricted Stock [Member] \| CEO [Member]
Number of common stock issued			1,000,000
Vesting period	24 months
Restricted Stock [Member] \| Outside Directors One [Member]
Shares issued as compensation	54,745
Restricted Stock [Member] \| Outside Directors Two [Member]
Shares issued as compensation	54,745
Restricted Stock [Member] \| Outside Directors Three [Member]
Shares issued as compensation	54,745
Restricted Stock [Member] \| Outside Directors Four [Member]
Shares issued as compensation	54,745
Restricted Stock [Member] \| Four Outside Directors [Member]
Shares issued as compensation	218,980
Number of outside directors \| Director	4
Restricted Stock [Member] \| Director [Member]
Vesting percentage					100.00%
Restricted Stock [Member] \| Harrow Executives and Staff [Member]
Vesting period	12 months
Restricted Stock [Member] \| Outside Directors [Member]
Vesting percentage	25.00%				25.00%
Restricted Stock Awards (RSAs) [Member]
Share based compensation expense \| $				$ 1,403	$ 1,388
Harrow Health Inc [Member] \| Restricted Stock [Member] \| Outside Directors One [Member]
Shares issued as compensation	54,745
Harrow Health Inc [Member] \| Restricted Stock [Member] \| Outside Directors Two [Member]
Shares issued as compensation	54,745
Harrow Health Inc [Member] \| Restricted Stock [Member] \| Outside Directors Three [Member]
Shares issued as compensation	54,745
Harrow Health Inc [Member] \| Restricted Stock [Member] \| Outside Directors Four [Member]
Shares issued as compensation	54,745
Harrow Health Inc [Member] \| Restricted Stock [Member] \| Director [Member]
Number of outside directors \| Director	4
Common Stock [Member]
Number of common stock issued				3,500,000
Common Stock [Member] \| Harrow Health Inc [Member]
Number of common stock issued			3,500,000
Common Stock [Member] \| Harrow Health Inc [Member] \| Four Outside Directors [Member]
Shares issued as compensation	218,980

Common Stock Warrants (Details Narrative) $ / shares in Units, $ in Thousands			1 Months Ended	8 Months Ended		12 Months Ended
	Nov. 15, 2018 USD ($) shares	Jun. 30, 2017 USD ($) $ / shares shares	May 31, 2017 USD ($) $ / shares shares	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares shares	Nov. 30, 2018 $ / shares shares
Warrants issued to purchase common stock \| shares						1,718,184
Warrants exercise price \| $ / shares						$ 3.04
Warrants, fair value \| $					$ 41	$ 2,583
Expected term						6 years 3 months 19 days
Volatility rate					85.00%	85.00%
Expected dividends rate					0.00%	0.00%
Warrant [Member]
Warrants issued to purchase common stock \| shares							414,000
Warrants exercise price \| $ / shares							$ 7.50
Warrant [Member] \| Consultant and Placement Agent [Member]
Weighted average exercise price of warrants \| $ / shares				$ 1.56	$ 1.56	$ 3.04
Redeemable Convertible Preferred Stock - Series A [Member]
Warrants, fair value \| $	$ 3,103			$ 520
Expected term	5 years
Volatility rate	85.00%
Risk-free interest rate	2.90%
Preferred stock, issuance costs \| $		$ 479
Common stock issued upon warrants conversion basis		1.333
Common stock issued upon warrants conversion basis, description		Prior to the Company's IPO in November 2018, the number of common shares issuable upon the exercise of this warrant was not fixed as it could vary by a factor of 1.000 to 1.333 common shares per warrant share in accordance with the IPO price, and the Company considered the warrant to be a derivative instrument (see Note 4).
Increase in fair value of warrant \| $	$ 2,583			$ 41
Placement Agent [Member] \| Redeemable Convertible Preferred Stock - Series A [Member]
Warrants issued to purchase common stock \| shares		649,409
Warrants exercise price \| $ / shares		$ 3.00
Warrants conversion, description		The warrant adjusted to entitle the holder to purchase shares of common stock equal to 10.0% of the shares of common stock issuable upon conversion of the Series A Preferred (excluding 191,000 shares of Series A Preferred that were purchased by insiders) and the exercise price would adjust to the conversion price of the Series A Preferred. This warrant vested at issuance in June 2017.
Common stock issuable upon conversion of preferred stock \| shares		191,000
Initial Public Offering [Member] \| Redeemable Convertible Preferred Stock - Series A [Member]
Number of shares issuable upon exercise warrants \| shares	704,184
General and Administrative Expense [Member]
Consulting warrants expense \| $			$ 121
Business Strategy and Intellectual Property Advisory Services [Member]
Warrants issued to purchase common stock \| shares			600,000
Warrants exercise price \| $ / shares			$ 0.01
Warrants expiration term			5 years
Warrants, fair value \| $			$ 121
Expected term			5 years
Volatility rate			85.00%
Risk-free interest rate			1.80%
Expected dividends rate			0.00%

Common Stock Warrants - Summary of Warrants Outstanding (Details)	Dec. 31, 2018 $ / shares shares
No. of Shares, Total \| shares	1,718,184
Exercise Price \| $ / shares	$ 3.04
Business Advisory Warrants [Member]
No. of Shares, Total \| shares	600,000
Exercise Price \| $ / shares	$ 0.01
Placement Agent Warrants - Series A Preferred [Member]
No. of Shares, Total \| shares	704,184
Exercise Price \| $ / shares	$ 3.00
Placement Agent Warrants - IPO [Member]
No. of Shares, Total \| shares	414,000
Exercise Price \| $ / shares	$ 7.50

Share-Based Payment Awards (Details Narrative) $ / shares in Units, $ in Thousands		8 Months Ended	12 Months Ended
	Jan. 02, 2018 Director shares	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2018 USD ($) $ / shares shares
Number of stock options issued to purchase common stock			225,000
Stock-based compensation expense \| $		$ 1,761	$ 1,850
General and Administrative Expense [Member]
Stock-based compensation expense \| $		1,735	1,770
Research and Development Expense [Member]
Stock-based compensation expense \| $		$ 26	$ 80
Restricted Stock [Member]
Number of stock options issued to purchase common stock			218,980
Stock Option [Member]
Stock options expiration period			10 years
Restricted Stock Awards (RSAs) [Member]
Weighted average grant date fair value issued \| $ / shares		$ 0.21	$ 1.37
Fair value of vested \| $		$ 0	$ 2,784
Unrecognized compensation costs \| $			$ 59
Restricted Stock Awards (RSU's) [Member]
Weighted average grant date fair value issued \| $ / shares		$ 1.38
Fair value of vested \| $		$ 69	$ 69
Non-Vested Stock Option Awards [Member]
Unrecognized compensation costs \| $			$ 1,277
Restricted Stock Units (RSUs) [Member]
Number of stock options issued to purchase common stock
Unrecognized compensation costs \| $			$ 0
Outside Directors One [Member] \| Restricted Stock [Member]
Shares issued as compensation	54,745
Outside Directors Two [Member] \| Restricted Stock [Member]
Shares issued as compensation	54,745
Outside Directors Three [Member] \| Restricted Stock [Member]
Shares issued as compensation	54,745
Outside Directors Four [Member] \| Restricted Stock [Member]
Shares issued as compensation	54,745
Four Outside Directors [Member] \| Restricted Stock [Member]
Shares issued as compensation	218,980
Number of outside directors \| Director	4
Outside Directors [Member] \| Restricted Stock [Member]
Restricted shares to outside directors vesting percentage	25.00%		25.00%
Director [Member] \| Restricted Stock [Member]
Restricted shares to outside directors vesting percentage			100.00%
Product Consultant [Member]
Number of stock options issued to purchase common stock			50,000
Common Stock [Member] \| Product Consultant [Member]
Stock options expiration period			5 years
2017 Equity Incentive Plan [Member]
Share-based compensation arrangement by share-based payment award, number of shares authorized			5,000,000
2018 Equity Incentive Plan [Member]
Share-based compensation arrangement, shares available for future issuance			886,020
2018 Equity Incentive Plan [Member] \| January 1, 2019 and Through January 1, 2028
Percentage for total number of shares outstanding			4.00%
2018 Employee Stock Purchase Plan [Member]
Stock-based compensation expense \| $			$ 5
Weighted average grant date fair value issued \| $ / shares			$ 2.59
Number of initial shares reserve			150,000
Share based compensation for initial shares reserve, description			The Company's ESPP provides for an initial reserve of 150,000 shares and this reserve is automatically increased on January 1 of each year by the lesser of 1% of the outstanding common shares at December 31 of the preceding year or 150,000 shares, subject to reduction at the discretion of its board of directors.
Percentage for purchase stock and fair value of common stock			85.00%
Description for deductions to purchase stock at price per share			The terms of the ESPP permit employees of the Company to use payroll deductions to purchase stock at a price per share that is at least the lesser of (1) 85% of the fair market value of a share of common stock on the first date of an offering or (2) 85% of the fair market value of a share of common stock on the date of purchase.
Employees contributed \| $			$ 8

Share-Based Payment Awards - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) $ / shares shares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options outstanding, Shares beginning balance \| shares	1,090,000
Issued, Shares \| shares	225,000
Exercised, Shares \| shares
Forfeited/Cancelled, Shares \| shares	(20,000)
Options outstanding, Shares ending balance \| shares	1,295,000
Options exercisable, ending balance \| shares	404,167
Options vested and expected to vest, ending balance \| shares	1,245,000
Options outstanding, Weighted Average Exercise Price beginning balance \| $ / shares	$ 1.24
Issued, Weighted Average Exercise Price \| $ / shares	4.26
Exercised, Weighted Average Exercise Price \| $ / shares
Forfeited/Cancelled, Weighted Average Exercise Price \| $ / shares	0.21
Options outstanding, Weighted Average Exercise Price \| $ / shares	1.78
Options exercisable, Weighted Average Exercise Price ending balance \| $ / shares	1.06
Options vested and expected to vest Weighted Average Exercise Price ending balance \| $ / shares	$ 1.79
Options outstanding, Weighted Average Remaining Contractual Term, beginning	9 years 8 months 12 days
Options outstanding, Weighted Average Remaining Contractual Term, ending	8 years 3 months 19 days
Options exercisable Weighted Average Remaining Contractual Term, ending	6 years 10 months 25 days
Options vested and expected to vest Weighted Average Remaining Contractual Term, ending	8 years 3 months 19 days
Options outstanding, Aggregate Intrinsic Value, beginning \| $	$ 151
Options outstanding, Aggregate Intrinsic Value, ending \| $	5,627
Options exercisable Aggregate Intrinsic Value, ending \| $	2,046
Options vested and expected to vest, Aggregate Intrinsic Value ending \| $	$ 5,390

Share-Based Payment Awards - Schedule of Assumptions Used to Calculate Fair Value of Options Granted (Details) - $ / shares	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Expected dividends	0.00%	0.00%
Expected volatility	85.00%	85.00%
Risk-free interest rate, minimum	1.70%	2.80%
Risk-free interest rate, maximum	2.30%	2.90%
Expected term		6 years 3 months 19 days
Weighted average fair value	$ 0.91	$ 3.39
Minimum [Member]
Expected term	5 years 9 months 18 days
Maximum [Member]
Expected term	10 years

Share-Based Payment Awards - Summary of Activity for Restricted Stock Awards (Details)	12 Months Ended
	Dec. 31, 2018 shares
Issued	225,000
Restricted Stock [Member]
Unvested, Outstanding, Beginning Balance	2,500,000
Issued	218,980
Vested	(2,406,480)
Forfeited/Cancelled
Unvested, Outstanding, Ending Balance	312,500

Share-Based Payment Awards - Summary of Activity for Restricted Stock Units (Details)	12 Months Ended
	Dec. 31, 2018 shares
Issued	225,000
Restricted Stock Units (RSUs) [Member]
Unvested, Outstanding, Beginning Balance	50,000
Issued
Vested	(50,000)
Forfeited/Cancelled
Unvested, Outstanding, Ending Balance

Basic and Diluted Net Loss Per Common Share (Details Narrative) - shares	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from calculation of diluted net loss per share	6,977,547	8,262,381

Basic and Diluted Net Loss Per Common Share - Computation of Basic and Diluted Net Loss Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Earnings Per Share [Abstract]
Net loss	$ (7,156)	$ (12,740)
Series A Preferred - dividends (accrued and deemed)	(1,483)	(24,489)
Net loss attributable to common stockholders	$ (8,639)	$ (37,229)
Weighted average common shares outstanding (basic and diluted)	3,453	6,418
Net loss per common share (basic and diluted)	$ (2.50)	$ (5.80)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Related Party Transactions (Details Narrative) $ / shares in Units, $ in Thousands							1 Months Ended		8 Months Ended	12 Months Ended
	Dec. 26, 2017 USD ($)	Nov. 17, 2017	Nov. 07, 2017	Aug. 11, 2017 USD ($)	Jul. 09, 2017 USD ($)	Jun. 23, 2017 USD ($)	Jul. 31, 2018 USD ($)	Apr. 30, 2018	Dec. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2018 USD ($) Products $ / shares shares
Common stock issued \| shares									6,000,000	17,607,928
Common stock par value per share \| $ / shares									$ 0.001	$ 0.001
Number of stock options issued to purchase common stock \| shares										225,000
Stock-based compensation expense									$ 1,761	$ 1,850
Payment of research and development expense									3,930	$ 5,627
Credit agreement term		10 years	10 years
Restricted Stock [Member]
Number of stock options issued to purchase common stock \| shares										218,980
Research and Development Expense [Member]
Stock-based compensation expense									26	$ 80
Harrow Health Inc [Member]
Common stock issued \| shares										3,500,000
Common stock par value per share \| $ / shares										$ 0.001
Number of products \| Products										2
Harrow Health Inc [Member] \| Stock Option [Member]
Stock-based compensation expense									112	$ 51
Harrow Health Inc [Member] \| Common Stock [Member]
Restricted stock award forfeited \| shares										20,000
Percentage of restricted stock and option vested								100.00%
Harrow Health Inc [Member] \| Restricted Stock [Member]
Number of restricted common stock issued for services \| shares										1,500,000
Number of stock options issued to purchase common stock \| shares										130,000
Stock-based compensation expense									$ 1,370	$ 970
Harrow Health Inc [Member] \| Licensing Agreement [Member]
Related party transaction							$ 50
Harrow Health Inc [Member] \| Research and Development Expense [Member]
Related party transaction	$ 50
Harrow Health Inc [Member] \| Patents [Member]
Related party transaction										$ 50
Royalty fee percentage										6.00%
Eyemax [Member]
Related party transaction				$ 250
Payment of research and development expense				250
Sale of product expense				$ 500
Related party transaction date				Aug. 11, 2017
Percentage of royalty fee				10.00%
Credit agreement term				10 years
Andersen Pharma LLC [Member]
Related party transaction					$ 750
Payment of research and development expense					750
Sale of product expense					$ 750
Related party transaction date					Jul. 09, 2017
Percentage of royalty fee					50.00%
Credit agreement term					5 years
Selenix LLC [Member]
Related party transaction						$ 1,500
Payment of research and development expense						1,500
Sale of product expense						$ 1,000
Related party transaction date						Jun. 23, 2017
Percentage of royalty fee						50.00%
Credit agreement term						10 years

Income Taxes (Details Narrative) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
Income Taxes (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Percentage for valuation reserve against deferred tax assets		100.00%
Deferred tax asset	$ 4,355	$ 4,355	$ 1,776
Income tax, description		The Tax Act significantly revised U.S. corporate income tax law by, among other things, reducing the corporate income tax rate from 34% to 21% and implementing a modified territorial tax system.
Corporate income tax rate	34.00%	21.00%
Charge for revaluation net deferred tax assets			733
Valuation reserve for income taxes			$ 733
NOL carryforward	$ 13,921	$ 13,921
Net operating loss carryforward expiration		Expire in 2037 and 2039
Minimum [Member]
Equity ownership percentage	50.00%	50.00%
Expire In 2037 and 2039 [Member]
NOL carryforward	$ 5,648	$ 5,648

Income Taxes - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Current: Federal
Current: State
Current: Income tax expense
Deferred: Federal		1,900	1,308
Deferred: State		679	468
Change in valuation allowance		(2,579)	(1,776)
Deferred: Income tax expense
Total provision

Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Net operating losses	$ 3,968	$ 1,610
Stock-based expenses	233	102
Accruals and other	154	64
Total deferred tax assets	4,355	1,776
Valuation allowance	(4,355)	(1,776)
Net deferred tax assets

Income Taxes - Schedule of Reconciliation of Statutory Federal Tax Rate (Details)	8 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Benefit at statutory rate	(34.00%)	(21.00%)
Permanent items (primarily warrants and stock compensation)	4.40%	6.00%
State tax benefit	(5.50%)	(5.30%)
Federal rate change	10.20%	0.00%
Other items	0.00%	0.00%
Establishment of valuation allowance	24.90%	20.30%
Income tax expense	0.00%	0.00%

Employee Savings Plan (Details Narrative) - USD ($) $ in Thousands	8 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Retirement Benefits [Abstract]
Percentage for tax deferred investment		100.00%
Percentage for matching contribution		4.00%
Employee saving plan for matching contribution	$ 0	$ 62

Commitments and Contingencies (Details Narrative) - USD ($) $ in Thousands				8 Months Ended	12 Months Ended
	Aug. 31, 2018	Nov. 17, 2017	Nov. 07, 2017	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Rent expense					$ 115	$ 14
Percentage of net profits payments to third party from sale of product		50.00%	30.00%
Credit agreement term		10 years	10 years
Total milestone payments	$ 1,104
Percentage of right to recoup					35.00%
Payments for development				$ 3,930	$ 5,627
License Agreement [Member]
Agreement term					10 years
Licensor [Member]
Percentage of net profits payments to third party from sale of product					35.00%
Percentage of right to recoup					60.00%
Licensor [Member] \| Exclusive License and Supply Agreement [Member]
Payments for development					$ 350
Licensor [Member] \| Upon FDA Acceptance [Member]
Payments for development					1,500
Licensor [Member] \| Upon FDA Approval [Member]
Payments for development					1,000
Licensor [Member] \| Upon Issuance of Patent Covering [Member]
Payments for development					1,500
Licensor [Member] \| Product Sales [Member]
Payments for development					500
Licensor [Member] \| Calendar Year [Member]
Payments for development					$ 10,000

Commitments and Contingencies - Schedule of Lease Commitments (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 137
2020	140
2021	31
Thereafter
Total	$ 308

Subsequent Events (Details Narrative) - Subsequent Event [Member] - USD ($) $ in Thousands	Feb. 18, 2019	Feb. 08, 2019	Jan. 23, 2019
Eyemax [Member] \| Sean Brynjelsen [Member]
Ownership interest percentage	33.00%
Licensing and Supply Agreement [Member] \| Upon Execution of the Agreement [Member]
Payment of license			$ 350
Licensing and Supply Agreement [Member] \| Upon Successful Bioequivalence Study [Member]
Payment of license			350
Licensing and Supply Agreement [Member] \| Upon NDA Acceptance [Member]
Payment of license			325
Licensing and Supply Agreement [Member] \| Upon NDA Approval [Member]
Payment of license			325
Licensing and Supply Agreement [Member] \| Upon Issuance of Patent [Member]
Payment of license			650
Licensing and Supply Agreement [Member] \| Product Sales [Member]
Payment of license			500
Licensing and Supply Agreement [Member] \| Maximum [Member] \| Calendar Year [Member]
Payment of license			$ 10,000
Exclusive Licensing and Supply Agreement - 202 [Member]
Percentage for additional profit for commercial sale of product		50.00%
Exclusive Licensing and Supply Agreement - 202 [Member] \| Upon FDA Approval [Member]
Payment of license		$ 750
Exclusive Licensing and Supply Agreement - 203 [Member]
Percentage for additional profit for commercial sale of product		50.00%
Exclusive Licensing and Supply Agreement - 203 [Member] \| Upon FDA Approval [Member]
Payment of license		$ 750
Amended and Restated Agreement [Member] \| Maximum [Member]
Royalties	$ 2,000
Liqmeds Worldwide Limited ("LMW") [Member]
Percentage for product profit from commercial sales			35.00%
Agreement term			10 years
Liqmeds Worldwide Limited ("LMW") [Member] \| Licensing and Supply Agreement [Member] \| Maximum [Member]
Payment of license			$ 2,500
Sintetica SA [Member] \| Exclusive Licensing and Supply Agreement - 202 [Member]
Payment of license		$ 2,000
Percentage for marketing fees		5.00%
Proceeds from license received		$ 500
Percentage for additional profit for commercial sale of product		50.00%
Agreement term for commercial sale of product		10 years
Sintetica SA [Member] \| Exclusive Licensing and Supply Agreement - 203 [Member]
Payment of license		$ 1,000
Percentage for marketing fees		5.00%
Proceeds from license received		$ 500
Percentage for additional profit for commercial sale of product		50.00%
Agreement term for commercial sale of product		10 years
Eyemax [Member] \| Amended and Restated Agreement [Member]
Description for milestone payment	Pursuant to the Amended Agreement, the Company remain obligated to pay Eyemax two milestones: (i) one milestone payment for $250,000 upon regulatory approval in the territory by the FDA of the first single agent product and (ii) one milestone payment for $500,000 following the first commercial sale of the first single agent product in the territory.
Eyemax [Member] \| Amended and Restated Agreement [Member] \| One Milestone [Member]
Payment for milestone	$ 250
Eyemax [Member] \| Amended and Restated Agreement [Member] \| Two Milestone [Member]
Payment for milestone	500
Bausch Health Ireland Limited [Member] \| Asset Purchase Agreement [Member]
Payment for milestone	500
Bausch Health Ireland Limited [Member] \| Asset Purchase Agreement [Member] \| Commercial Milestone [Member]
Payment for milestone	$ 2,500