Annual report pursuant to Section 13 and 15(d)

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details)

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QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($)
 3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues                 $ 2,998,000 $ 837,000 $ 889,000
Research and development $ 9,470,000 $ 13,150,000 $ 7,916,000 $ 8,162,000 $ 5,706,000 $ 3,277,000 $ 5,808,000 $ 2,198,000 38,698,000 16,989,000 10,655,000
General and administrative 7,631,000 4,970,000 4,627,000 2,878,000 3,113,000 2,166,000 2,642,000 3,022,000 20,106,000 10,943,000 13,290,000
Loss from operations (18,010,000) [1] (16,916,000) [1] (12,557,000) [1] (10,683,000) [1] (8,750,000) (5,362,000) (8,440,000) (5,284,000) (58,166,000) (27,836,000) (23,881,000)
Net loss $ (17,479,000) [1] $ (16,419,000) [1] $ (12,243,000) [1] $ (10,530,000) [1] $ (8,450,000) $ (5,343,000) $ (8,279,000) $ (5,247,000) $ (56,671,000) $ (27,319,000) $ (21,873,000)
Basic and diluted loss per common share $ (0.36) $ (0.34) $ (0.26) $ (0.22) $ (0.19) $ (0.13) $ (0.21) $ (0.13) $ (1.19) $ (0.66) $ (0.64)
Weighted average number of common shares outstanding – basic and diluted 47,944,486 47,794,394 47,303,518 47,060,523 45,598,667 40,377,890 40,270,879 40,254,679 47,528,248 41,636,752 34,180,253
Foundation grants [Member]                      
Revenues $ 369,000 [1],[2] $ 1,687,000 [1],[2] $ 259,000 [1],[2] $ 481,000 [1],[2] $ 0 [2] $ 0 [2] $ 0 [2] $ 0 [2] $ 2,796,000 $ 0 $ 0
License revenues [Member]                      
Revenues 0 [2] 0 [2] 0 [2] 0 [2] 150,000 [2] 151,000 [2] 150,000 [2] 151,000 [2] 0 602,000 602,000
Royalties [Member]                      
Revenues $ 113,000 [2] $ 22,000 [2] $ 17,000 [2] $ 50,000 [2] $ 65,000 [2] $ 68,000 [2] $ 67,000 [2] $ 35,000 [2] $ 202,000 $ 235,000 $ 287,000
[1] We have adjusted the amounts originally reported for the quarters ended March 31, 2018 and June 30, 2018 to correct for an error in the determination of the cumulative effect related to the adoption of ASC 606 as of January 1, 2018. The adjusted amounts for March 31, 2018 reflect a $2,067,000 reduction in foundation revenues and corresponding increases in the loss from operations and net loss of  $2,067,000 and an increase in the diluted loss per share of  $0.04, as compared to the originally reported amounts. The adjusted amounts for June 30, 2018 reflect a $543,000 reduction in foundation revenues and corresponding increases in the loss from operations and net loss of  $543,000 and an increase in the diluted loss per share of  $0.01, as compared to the originally reported amounts.
[2] Effective January 1, 2018, we adopted ASU 2014-09, Revenue from Contracts with Customers, as amended (ASC 606)), using the modified retrospective transition method. The ASC 606 revenue recognition standard replaced the prior revenue recognition standard ASC 605, Revenue Recognition. The statement of operations for each of the quarterly periods in 2018 are presented under ASC 606, while the statement of operations for each of the quarterly periods of 2017 are presented under ASC 605.