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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2018	May 10, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	ROCKET PHARMACEUTICALS, INC.
Entity Central Index Key	0001281895
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	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		39,480,407
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 171,136	$ 18,142
Short term investments	11,561	0
Prepaid expenses and other assets	2,131	813
Total current assets	184,828	18,955
Property and equipment, net	1,146	985
Goodwill	30,815	0
Restricted cash	208	207
Deposits	168	0
Total assets	217,165	20,147
Current liabilities:
Accounts payable and accrued expenses	4,762	2,062
Accrued research and development costs	2,575	2,459
Total current liabilities	7,337	4,521
Convertible notes, net of unamortized discount	39,084	0
Deferred rent and lease liability	598	107
Total liabilities	47,019	4,628
Commitments and contingencies (Note 12)
Stockholders' equity:
Common stock, $0.01 par value, 120,000,000 shares authorized; 39,403,898 and 6,795,627 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	394	1
Additional paid-in capital	216,440	5,407
Accumulated other comprehensive income	10	0
Accumulated deficit	(46,698)	(31,355)
Total shareholders' equity	170,146	15,519
Total liabilities and stockholders' equity	217,165	20,147
Series A Convertible Preferred Shares [Member]
Stockholders' equity:
Preferred shares	0	16,060
Series B Convertible Preferred Shares [Member]
Stockholders' equity:
Preferred shares	$ 0	$ 25,406

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	39,403,898	6,795,627
Common stock, shares outstanding (in shares)	39,403,898	6,795,627
Series A Convertible Preferred Shares [Member]
Stockholders' equity:
Preferred stock, shares authorized (in shares)	300,000	300,000
Preferred stock, shares issued (in shares)	0	128,738
Preferred stock, shares outstanding (in shares)	0	128,738
Series B Convertible Preferred Shares [Member]
Stockholders' equity:
Preferred stock, shares authorized (in shares)	300,000	300,000
Preferred stock, shares issued (in shares)	0	126,909
Preferred stock, shares outstanding (in shares)	0	126,909

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Consolidated Statements of Operations (Unaudited) [Abstract]
Revenue	$ 0	$ 0
Operating expenses:
Research and development	5,743	2,285
General and administrative	8,662	585
Total operating expenses	14,405	2,870
Loss from operations	(14,405)	(2,870)
Research and development incentives	186	192
Interest expense	(1,427)	0
Interest income	288	0
Other income	15	0
Net loss	$ (15,343)	$ (2,678)
Net loss per share attributable to common stockholders - basic and diluted (in dollars per share)	$ (0.42)	$ (0.39)
Weighted-average common shares outstanding - basic and diluted (in shares)	36,137,120	6,795,627

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Consolidated Statements of Comprehensive Loss (Unaudited) [Abstract]
Net loss	$ (15,343)	$ (2,678)
Other comprehensive gain:
Net unrealized gain on short term investments	10	0
Total comprehensive loss	$ (15,333)	$ (2,678)

Consolidated Statements of Shareholders' Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Preferred Stock [Member] Series A Convertible [Member]	Preferred Stock [Member] Series B Convertible [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income [Member]	Total
Beginning Balance at Dec. 31, 2017	$ 16,060	$ 25,406	$ 68	$ 5,340	$ (31,355)	$ 0	$ 15,519
Beginning Balance (in shares) at Dec. 31, 2017	128,738	126,909	6,795,627
Conversion of convertible preferred shares into common shares	$ (16,060)	$ (25,406)	$ 194	41,272	0	0	0
Conversion of convertible preferred shares into common shares (in shares)	(128,738)	(126,909)	19,475,788
Exchange of common shares in connection with the Merger	$ 0	$ 0	$ 68	85,992	0	0	86,060
Exchange of common shares in connection with the Merger (in shares)	0	0	6,805,608
Issuance of common shares, net of issuance costs of $5.3 million	$ 0	$ 0	$ 63	78,455	0	0	78,518
Issuance of common shares, net of issuance costs of $5.3 million (in shares)	0	0	6,325,000
Issuance of common shares pursuant to settlement of restricted stock units	$ 0	$ 0	$ 1	(1)	0	0	0
Issuance of common shares pursuant to settlement of restricted stock units (in shares)	0	0	1,875
Unrealized gain on short term investments	$ 0	$ 0	$ 0	0	0	10	10
Share-based compensation	0	0	0	5,382	0	0	5,382
Net loss	0	0	0	0	(15,343)	0	(15,343)
Ending Balance at Mar. 31, 2018	$ 0	$ 0	$ 394	$ 216,440	$ (46,698)	$ 10	$ 170,146
Ending Balance (in shares) at Mar. 31, 2018	0	0	39,403,898

Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Consolidated Statements of Shareholders' Equity (Unaudited) [Abstract]
Issuance of common shares, issuance costs	$ 5.3

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating Activities:
Net loss	$ (15,343)	$ (2,678)
Adjustments to reconcile net loss to net cash used in operating activities:
Accretion of discount on convertible notes	696	0
Reduction of lease liability	(20)	0
Depreciation expense	83	28
Share-based compensation expense	5,382	99
Amortization of premium on short term investments	12	0
Changes in operating assets and liabilities:
Prepaid expenses	(266)	(954)
Accounts payable and accrued expenses	(2,261)	(282)
Accrued research and development costs	116	64
Net cash used in operating activities	(11,601)	(3,723)
Investing activities:
Cash acquired in connection with the Reverse Merger	76,348	0
Proceeds from maturities of short-term investments	9,718	0
Proceeds from sale of property and equipment	20	0
Purchases of property and equipment	(8)	(131)
Net cash provided by (used in) investing activities	86,078	(131)
Financing activities:
Proceeds from issuance of common stock, net of issuance costs	78,518	0
Proceeds from issuance of convertible preferred stock, net	0	21,549
Net cash provided by financing activities:	78,518	21,549
Net change in cash and restricted cash	152,995	17,695
Cash, cash equivalents and restricted cash at beginning of period	18,349	9,665
Cash, cash equivalents and restricted cash at end of period	171,344	27,360
Supplemental disclosure of non-cash financing activities:
Conversion of convertible preferred stock into common stock	41,466	0
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	1,495	0
Cash paid for income taxes	$ 0	$ 0

Nature of Business, Merger and Basis of Presentation	3 Months Ended
Nature of Business, Merger and Basis of Presentation	Mar. 31, 2018
Nature of Business, Merger and Basis of Presentation [Abstract]
Nature of Business, Merger and Basis of Presentation	1. Nature of Business, Merger and Basis of Presentation Rocket Pharmaceuticals, Inc. (“Rocket” or the “Company”) is a multi-platform biotechnology company focused on the development of first or best-in-class gene therapies for rare and devastating pediatric diseases. Rocket has LVV programs currently undergoing clinical testing for Fanconi Anemia (“FA”), a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells, and three additional LVV programs targeting other rare genetic diseases. In addition, Rocket has an adeno-associated virus (“AAV”) program, which will permit the commencement of human clinical studies thereafter. Rocket has global commercialization and development rights to all of its product candidates under royalty-bearing license agreements, with the exception of the CRISPR/Cas9 development program (described below) for which Rocket currently only has development rights. Rocket’s two leading LVV and AAV technology platforms are each being designed in collaboration with leading academic and industry partners. Through its gene therapy platforms, Rocket aims to restore normal cellular function by modifying the defective genes that cause each of the targeted disorders. Reverse Merger and Exchange Ratio On January 4, 2018, Rome Merger Sub (“Merger Sub”), a wholly owned subsidiary of Inotek Pharmaceuticals Corporation (“Inotek”), completed its merger with and into Rocket Pharmaceuticals, Ltd. (“Rocket Ltd”), with Rocket Ltd surviving as a wholly owned subsidiary of Inotek. This transaction is referred to as the “Reverse Merger.” The Reverse Merger was effected pursuant to an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”), dated as of September 12, 2017, by and among Inotek, Rocket Ltd and Rome Merger Sub. As a result of the Reverse Merger, each outstanding share of Rocket Ltd share capital (including shares of Rocket Ltd share capital to be issued upon exercise of outstanding share options) automatically converted into the right to receive approximately 76.185 shares of Inotek’s common stock, par value $0.01 per share (the “Exchange Ratio”). Following the closing of the Reverse Merger, holders of Inotek’s common stock immediately prior to the Reverse Merger owned approximately 18.643% on a fully diluted basis, and holders of Rocket Ltd common stock immediately prior to the Reverse Merger owned approximately 81.357% on a fully diluted basis, of Inotek’s common stock. The Reverse Merger has been accounted for as a reverse acquisition under the acquisition method of accounting where Rocket Ltd is considered the accounting acquirer and Inotek is the acquired company for financial reporting purposes. Rocket Ltd was determined to be the accounting acquirer based on the terms of the Merger Agreement and other factors, such as relative voting rights and the composition of the combined company’s board of directors and senior management. The pre-acquisition financial statements of Rocket Ltd became the historical financial statements of Rocket following completion of the Reverse Merger. The historical financial statements, outstanding shares and all other historical share information have been adjusted by multiplying the respective share amount by the Exchange Ratio as if the Exchange Ratio had been in effect for all periods presented. Immediately following the Reverse Merger, the combined company changed its name from “Inotek Pharmaceuticals Corporation” to “Rocket Pharmaceuticals, Inc.” The combined company following the Reverse Merger may be referred to herein as “the combined company,” “Rocket,” or the “Company.” The Company’s common stock remained listed on the NASDAQ Stock Market, with trading having commenced on a post-split basis (giving effect to the Reverse Stock Split described below) and under the new name as of January 5, 2018. The trading symbol also changed on that date from “ITEK” to “RCKT.” Unaudited Interim Consolidated Financial Information The accompanying consolidated balance sheet as of March 31, 2018, the consolidated statements of operations and comprehensive loss and of cash flows for the three months ended March 31, 2018 and 2017, and the consolidated statement of shareholders’ equity for the three months ended as of March 31, 2018 are unaudited. These financial statements should be read in conjunction with the Rocket Ltd 2017 financial statements included in Form 8-K filed on March 7, 2018. The unaudited interim consolidated financial statements have been prepared on the same basis as the audited annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2018 and the results of its operations and its cash flows for the three months ended March 31, 2018 and 2017. The financial data and other information disclosed in these consolidated notes related to the three months ended March 31, 2018 and 2017 are unaudited. The results for the three months ended March 31, 2018 are not necessarily indicative of results to be expected for the year ending December 31, 2018, any other interim periods or any future year or period.

Risks and Liquidity	3 Months Ended
Risks and Liquidity	Mar. 31, 2018
Risks and Liquidity [Abstract]
Risks and Liquidity	2. Risks and Liquidity The Company has not generated any revenue and has incurred losses since inception. Operations of the Company are subject to certain risks and uncertainties, including, among others, uncertainty of drug candidate development, technological uncertainty, uncertainty regarding patents and proprietary rights, having no commercial manufacturing experience, marketing or sales capability or experience, dependency on key personnel, compliance with government regulations and the need to obtain additional financing. Drug candidates currently under development will require significant additional research and development efforts, including extensive preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel infrastructure and extensive compliance-reporting capabilities. The Company’s drug candidates are in the development stage. There can be no assurance that the Company’s research and development will be successfully completed, that adequate protection for the Company’s intellectual property will be obtained, that any products developed will obtain necessary government approval or that any approved products will be commercially viable. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will generate significant revenue from product sales. The Company operates in an environment of rapid change in technology and substantial competition from pharmaceutical and biotechnology companies. The Company’s consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities in the ordinary course of business. The Company has experienced negative cash flows from operations and had an accumulated deficit of $46,698 as of March 31, 2018. As of March 31, 2018, the Company has $182,697 of cash, cash equivalents and short term investments. Rocket expects such resources would be sufficient to fund its operating expenses and capital expenditure requirements into 2020. In the longer term, the future viability of the Company is dependent on its ability to generate cash from operating activities or to raise additional capital to finance its operations. The Company’s failure to raise capital as and when needed could have a negative impact on its financial condition and ability to pursue its business strategies.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

3. Summary of Significant Accounting Policies

Use of Estimates

The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States (“US GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these consolidated financial statements include but are not limited to, goodwill impairment, the accrual of research and development expenses, the valuation of equity transactions and share-based awards. Changes in estimates and assumptions are reflected in reported results in the period in which they become known. Actual results could differ from those estimates.

Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents and restricted cash consists of bank deposits, certificates of deposit and money market accounts with financial institutions. Cash equivalents are carried at cost which approximates fair value due to their short-term nature and which the Company believes do not have a material exposure to credit risk. The Company considers all highly liquid investments with maturities of three months or less from the date of purchase to be cash equivalents. The Company’s cash and cash equivalent accounts, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

Restricted cash consists of a deposit collateralizing a letter of credit issued by a bank in connection with the Company’s operating lease (See Note 12). As of March 31, 2018 and December 31, 2017, restricted cash was $208 and $207, respectively. Cash, cash equivalents and restricted cash consist of the following:

	March 31, 2018		December 31, 2017

Cash and cash equivalents	$	171,136	$	18,142
Restricted cash		208		207
	$	171,344	$	18,349

Short term Investments

Short term investments consist of investments in certificates of deposit and United States Treasury securities. Management determines the appropriate classification of these securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. The Company classifies its short-term investments as available-for-sale pursuant to Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) 320, Investments—Debt and Equity Securities. Short-term investments are recorded at fair value, with unrealized gains and losses included as a component of accumulated other comprehensive loss in shareholders’ equity and a component of total comprehensive income in the consolidated statements of comprehensive income, until realized. Realized gains and losses are included in investment income on a specific-identification basis. There were no realized gains or losses on short-term investments for the three months ended March 31, 2018 and 2017, respectively. There was $10 and $0 of net unrealized gains on short term investments for the three months ended March 31, 2018 and 2017, respectively.

The Company reviews short term investments for other-than-temporary impairment whenever the fair value of a short term investment is less than the amortized cost and evidence indicates that a short term investment’s carrying amount is not recoverable within a reasonable period of time. Other-than-temporary impairments of investments are recognized in the consolidated statements of operations if the Company has experienced a credit loss, has the intent to sell the short term investment, or if it is more likely than not that the Company will be required to sell the short term investment before recovery of the amortized cost basis. Evidence considered in this assessment includes reasons for the impairment, compliance with the Company’s investment policy, the severity and the duration of the impairment and changes in value subsequent to the end of the period.

Short term investments at March 31, 2018 consist of the following:

	Cost Basis		Unrealized Gains		Fair Value
Current:
Certificates of deposit	$	1,546	$	-	$	1,546
United States Treasury securities		10,005		10		10,015
	$	11,551	$	10	$	11,561

At March 31, 2018, all short term investments held by the Company had contractual maturities of less than one year. The Company evaluated its securities for other-than-temporary impairment and determined that no such impairment existed at March 31, 2018.

Goodwill

Business combinations are accounted for under the acquisition method (see Note 4). The total cost of an acquisition is allocated to the underlying identifiable net assets, based on their respective estimated fair values as of the acquisition date. Determining the fair value of assets acquired and liabilities assumed requires management’s judgment and often involves the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset lives and market multiples, among other items. Assets acquired and liabilities assumed are recorded at their estimated fair values. The excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill.

Goodwill is tested for impairment annually as of December 31, or more frequently when events or changes in circumstances indicate that the asset might be impaired. Examples of such events or circumstances include, but are not limited to, a significant adverse change in legal or business climate, an adverse regulatory action or unanticipated competition.

The Company will assess qualitative factors to determine whether the existence of events or circumstances would indicate that it is more likely than not that the fair value of the reporting unit was less than its carrying amount. If after assessing the totality of events or circumstances, the Company were to determine that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, then the Company would perform a quantitative impairment test.

In the first step, the Company compares the fair value of the reporting unit to its carrying value. If the fair value of the reporting unit exceeds the carrying value of the net assets, goodwill is not impaired, and no further testing is required. If the fair value of the reporting unit is less than the carrying value, the Company measures the amount of impairment loss, if any, as the excess of the carrying value over the fair value of the reporting unit.

The Company has determined there were no indicators of goodwill impairment as of March 31, 2018.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation. Depreciation expense is recognized using the straight-line method over the useful life of the asset. The estimated useful lives are three to five years. Expenditures for repairs and maintenance of assets are charged to expense as incurred. Upon retirement or sale, the cost and related accumulated depreciation of assets disposed of are removed from the accounts and any resulting gain or loss is included in loss from operations. If the carrying amount of the assets or asset group is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value.

Fair Value Measurements

The Company is required to disclose information on all assets and liabilities reported at fair value that enables an assessment of the inputs used in determining the reported fair values. FASB ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), establishes a hierarchy of inputs used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability, and are developed based on the best information available in the circumstances. The fair value hierarchy applies only to the valuation inputs used in determining the reported fair value of the investments and is not a measure of the investment credit quality. The three levels of the fair value hierarchy are described below:

Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2—Valuations based on quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3—Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable.

To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The fair value of the Company’s financial instruments, including cash and cash equivalents, prepaid expenses and other assets, accounts payable and accrued expenses approximate their respective carrying values due to the short-term nature of these instruments. The carrying value of the 2021 Convertible Notes approximates fair value due to the acquisition (see Note 4). The Company’s assets and liabilities measured at fair value on a recurring basis include its short term investments.

Deferred Rent and Lease Liability

The Company recognizes rent expense on a straight-line basis, after considering the effect of rent escalation provisions resulting in a level rent expense recognized over the lease term. For the lease liability, the Company reduces the rent expense on a straight-line basis over the remaining life of the lease.

Research and Development

Research and development costs, which include salaries and staff costs, license costs, regulatory and scientific consulting fees, as well as contract research, and share-based compensation expense, are accounted for in accordance with ASC Topic 730, Research and Development, (“ASC 730”).

The Company does not currently have any commercial biopharmaceutical products, and does not expect to have any for several years, if at all. Accordingly, research and development costs are expensed as incurred. While certain of the Company’s research and development costs may have future benefits, the policy of expensing all research and development expenditures is predicated on the fact that the Company has no history of successful commercialization of product candidates to base any estimate of the number of future periods that would be benefited.

Foreign Currency Transactions

Certain transactions during the three months ended March 31, 2018 and 2017 are denominated in Euros. Gains and losses on foreign currency transactions are not significant for the three months ended March 31, 2018 and 2017.

Share-Based Compensation

The Company measures the cost of employee services received in exchange for an award of equity instruments based on the fair value of the award on the grant date. That cost is recognized on a straight-line basis over the period during which the employee is required to provide service in exchange for the award. The fair value of options on the date of grant is calculated using the Black-Scholes option pricing model based on key assumptions such as stock price, expected volatility and expected term. The Company’s estimates of these assumptions are primarily based on the trading price of Company’s stock, historical data, peer company data and judgment regarding future trends and factors. The fair value of restricted stock awards is based on the intrinsic value of such awards on the date of grant. Compensation cost for stock purchase rights under the employee stock purchase plan is measured and recognized on the date the Company becomes obligated to issue shares of common stock and is based on the difference between the fair value of the Company’s common stock and the purchase price on such date.

The Company classifies share-based compensation expense in its statement of operations in the same manner in which the award recipient’s payroll costs are classified or in which the award recipients’ service payments are classified.

The Company recognizes compensation expense for only the portion of awards that are expected to vest. Forfeitures are recorded as they occur.

Prior to the Reverse Merger, the Company was a private company and lacked company-specific historical and implied volatility information. Therefore, it estimated its expected share volatility based on the historical volatility of a publicly traded set of peer companies. The expected term of the Company’s share options was determined utilizing the “simplified” method for awards that qualify as “plain vanilla” options. The expected term of share options granted to non-employees was equal to the contractual term of the option award. The risk-free interest rate was determined by reference to the U.S. Treasury yield curve in effect at the time of grant of the award for time periods approximately equal to the expected term of the award. Expected dividend yield was based on the fact that the Company had never paid cash dividends and did not expect to pay any cash dividends in the foreseeable future.

The Company measured the compensation expense of share options and other share-based awards granted to employees and directors using the grant date fair value of the award and recognized compensation expense as determined by the Black-Scholes Option pricing model on a straight-line basis over their requisite service period, which was generally the vesting period of the respective award.

The Company initially measured the compensation expense of share-based awards granted to consultants using the grant date fair value of the award. Compensation expense was recognized over the period during which services were rendered by such consultants. At the end of each financial reporting period prior to completion of services being rendered, the compensation expense was remeasured using the then current fair value of the share-based award, based on updated assumption inputs in the Black-Scholes option pricing model.

NYC Biotechnology Tax Credit Program

New York City allows investors and owners of emerging technology companies focused on biotechnology to claim a tax credit against the General Corporation Tax and Unincorporated Business Tax for amounts paid or incurred for certain facilities, operations, and employee training in New York City. The credit is recognized as research and development incentives when approved by New York City of the eligibility for the credit and the credit amount. During the three months ended March 31, 2018 and 2017, the Company recorded research and development incentive income and a related receivable of $186 and $192, respectively, related to this credit.

Income Taxes

The Company accounts for income taxes under the asset and liability method. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, as well as for operating loss and tax credit carry-forwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which the Company expects to recover or settle those temporary differences. The Company recognizes the effect of a change in tax rates on deferred tax assets and liabilities in the results of operations in the period that includes the enactment date. The Company reduces the measurement of a deferred tax asset, if necessary, by a valuation allowance if it is more likely than not that the Company will not realize some or all of the deferred tax asset.

The Company accounts for uncertainty in income taxes recognized in the financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination by the taxing authorities. If the tax position is deemed more-likely-than-not to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. The provision for income taxes includes the effects of any resulting tax reserves, or unrecognized tax benefits, that are considered appropriate as well as the related net interest and penalties.

On December 22, 2017, the Tax Cut and Jobs Act (the “Act”), was signed into law by the President of the United States. The Act includes a number of provisions, including the lowering of the U.S. corporate tax rate from 34 percent to 21 percent, effective January 1, 2018 and the establishment of a territorial-style system for taxing foreign-source income of domestic multinational corporations. The Company is in the process of quantifying the tax impacts of The Act, but at this time does not believe the provisions will have a material impact on the Company’s financial reporting. The Company will continue to monitor and quantify the impact of the Act and will record any adjustments in accordance with the guidance in Staff Accounting Bulletin No. 118.

Net Loss Per Share

The Company follows the two-class method when computing net income (loss) per share as the Company has issued shares that meet the definition of participating securities. The two-class method determines net income (loss) per share for each class of common shares and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common shareholders for the period to be allocated between common shares and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed.

Basic net income (loss) per share attributable to common shareholders is computed by dividing the net income (loss) attributable to common shareholders by the weighted average number of common shares outstanding for the period. Diluted net income (loss) attributable to common shareholders is computed by adjusting net income (loss) attributable to common shareholders to reallocate undistributed earnings based on the potential impact of dilutive securities. Diluted net income (loss) per share attributable to common shareholders is computed by dividing the diluted net income (loss) attributable to common shareholders by the weighted average number of common shares outstanding for the period, including potential dilutive common shares. For purposes of this calculation, outstanding options and convertible preferred shares are considered potential dilutive common shares.

The Company’s convertible preferred shares contractually entitled the holders of such shares to participate in dividends but contractually did not require the holders of such shares to participate in losses of the Company. Accordingly, in periods in which the Company reports a net loss attributable to common shareholders, diluted net loss per share attributable to common shareholders is the same as basic net loss per share attributable to common shareholders, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive. In connection with the Reverse Merger, all of the convertible preferred shares were converted into common stock. This conversion was in accordance with the original terms.

Segment Reporting

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business in one operating segment.

Comprehensive loss

Comprehensive loss is defined as the change in equity of a business enterprise during a period from transactions, and other events and circumstances from non-owner sources, and currently consists of net loss and changes in unrealized gains and losses on short-term investments as of March 31, 2018 and December 31, 2017.

Recent Accounting Pronouncements

In January 2016, the FASB issued Accounting Standards Update (“ASU”) ASU 2016-01, "Financial Instruments—Overall (Topic 825-10): "Recognition and Measurement of Financial Assets and Financial Liabilities." ASU 2016-01 amends the guidance on the classification and measurement of financial instruments. Some of the amendments in ASU 2016-01 include the following: 1) requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; 2) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment; 3) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; and 4) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value; among others. For public business entities, the amendments of ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company adopted ASU 2016-01 effective January 1, 2018 and it did not have a material impact on the Company’s consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which supersedes the current leasing guidance and upon adoption, will require lessees to recognize right-of-use assets and lease liabilities on the balance sheet for all leases with terms longer than 12 months. The new standard is effective for the Company for the annual period beginning after December 15, 2018, and can be early adopted by applying a modified retrospective approach for leases existing at, and entered into after, the beginning of the earliest comparable period presented in the financial statements. The Company is currently evaluating the impact of this accounting standard on the Company’s consolidated financial statements.

In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting, to provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. ASU 2017-09 was effective for the annual periods beginning after December 15, 2017. The Company adopted this standard on January 1, 2018. The adoption of ASU 2017-09 did not have a material impact on the Company’s consolidated financial position or results of operations.

In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU 2017-01)”. ASU 2017-01 provides that when substantially all of the fair value of the assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. ASU 2017-01 is effective to annual period beginning after December 31, 2018 and interim period within annual periods beginning after December 31, 2019. Adoption of ASU 2017-09 may impact the Company’s accounting for future acquisitions.

In January 2017, the FASB issued ASU No. 2017-04, “Intangibles- Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”, an amendment to simply the subsequent quantitative measurement of goodwill by eliminating step two from the goodwill impairment test. As amended, an entity will recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. An entity still has the option to perform the qualitative test for a reporting unit to determine if the quantitative impairment test is necessary. This amendment is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 31, 2021. Entities should apply for the amendment prospectively. Early adoption is permitted. The Company early adopted this guidance as of January 1, 2018 and will apply it when performing its annual goodwill impairment test.

Acquisition Accounting

3 Months Ended

Mar. 31, 2018

Acquisition Accounting [Abstract]

Acquisition Accounting

4. Acquisition Accounting

The identifiable assets and liabilities of Inotek are allocated in the Company’s consolidated financial statements at their provisional fair values at the acquisition date, January 4, 2018. Goodwill, is calculated as the excess value of consideration paid over the fair value of assets acquired and liabilities assumed.

The acquisition-date fair value of the consideration transferred is as follows:

Number of shares of the combined company owned by Inotek shareholders		6,805,608
Number of shares issuable in connection with fully vested RSUs of Inotek immediately prior to the Reverse Merger		271,718
Inotek common stock on the acquisition date		7,077,326
Price per share of Inotek common stock on acquisition date	$	12.16
Total purchase price	$	86,060

The following table summarizes the provisional fair value purchase price allocation of the assets acquired and liabilities assumed at the date of acquisition which is subject to adjustment as the Company finalizes it valuation:

Cash and cash equivalents	$	76,348
Short term investments		21,292
Prepaid expense and other assets		1,041
Property and equipment		256
Deposits		168
Goodwill		30,815
Accounts payable and accrued expenses		(4,961	)
Convertible notes		(38,388	)
Unfavorable lease liability		(511	)
Net assets acquired	$	86,060

The goodwill of $30,815 represents the premium over the purchase price. Goodwill is mainly attributable to the value of cash and cash equivalents and short term investments acquired as of the acquisition date and access to capital markets. The allocation of the purchase price with the assistance of a third party valuation, is based on certain management assumptions. The Company incurred acquisition costs of $132 for the three months ended March 31, 2018.

The following supplemental unaudited pro forma information presents the Company’s financial results as if the acquisition of Inotek had occurred on January 1, 2017:

	Three Months Ended March 31,
	2018			2017
Revenue	$	-		$	-
Net loss		(15,998	)		(15,670	)

The above unaudited pro forma information was determined based on the historical US GAAP results of the Company and Inotek. The unaudited pro forma consolidated results are not necessarily indicative of what the Company’s consolidated results of operations actually would have been if the acquisition was completed on January 1, 2017. The unaudited pro forma consolidated net loss includes pro forma adjustments primarily relating to the following non-recurring items directly attributable to the business combination:

(1)	Elimination of $4,512 of transaction costs for both the Company and Inotek from the three months ended March 31, 2018;

(2)	Elimination of $3,459 of stock-based compensation expense related to the acceleration of vesting and modification of certain previously unvested Inotek awards in connection with the Reverse Merger from the three months ended March 31, 2018;

(3)	Elimination of $1,622 of expense related to severance and stay bonuses from the three months ended March 31, 2018;

(4)	To adjust interest expense incurred in connection with the 2021 Convertible Notes assumed in connection with the Reverse Merger based on the fair value of the 2021 Convertible Notes on the date of the Reverse Merger, as if it occurred on January 1, 2017;

(5)	To adjust depreciation expense associated with property and equipment acquired in connection with the Reverse Merger based on the fair value of the property and equipment on the date of the Reverse Merger, as if it occurred on January 1, 2017; and

(6)	To adjust expense associated with operating lease obligations assumed in connection with the Merger based on the fair value of the leases on the date of the Merger, as if it occurred on January 1, 2017.

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2018

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments

5. Fair Value of Financial Instruments

Items measured at fair value on a recurring basis are short-term investments. The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy:

	Fair Value Measurements as of March 31, 2018 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Money market mutual funds (included in cash and cash equivalents)	$	79,910	$	-	$	-	$	79,910

Certificates of deposit	$	1,546	$	-	$	-	$	1,546
United States Treasury securities		10,015		-		-		10,015
Short-term investments		11,561		-		-		11,561

	$	91,471	$	-	$	-	$	91,471

The Company classifies its money market mutual funds as Level 1 assets under the fair value hierarchy, as these assets have been valued using quoted market prices in active markets without any valuation adjustment.

Property and Equipment

3 Months Ended

Mar. 31, 2018

Property and Equipment [Abstract]

Property and Equipment

6. Property and Equipment

The Company’s property and equipment consisted of the following:

	March 31, 2018			December 31, 2017
Laboratory equipment	$	1,042		$	1,042
Computer equipment		106			98
Furniture and fixtures		351			115
		1,499			1,255
Less: Accumulated depreciation		(353	)		(270	)
	$	1,146		$	985

During the three months ended March 31, 2018 and 2017, the Company recognized $83 and $28 of depreciation expense, respectively.

Accounts Payable and Accrued Expenses

3 Months Ended

Mar. 31, 2018

Accounts Payable and Accrued Expenses [Abstract]

Accounts Payable and Accrued Expenses

7. Accounts Payable and Accrued Expenses

At March 31, 2018 and December 31, 2017, the Company’s accounts payable and accrued expenses consisted of the following:

	March 31, 2018		December 31, 2017
Bonus	$	956	$	703
Research and development		956		814
Severance and benefits		891		88
Professional fees		609		382
Government payable		513		—
Accrued interest		493		—
Other		149		25
Compensation and benefits		128		50
Accounts payable		67		—
	$	4,762	$	2,062

Debt

3 Months Ended

Mar. 31, 2018

Debt [Abstract]

Debt

8. Debt

On January 4, 2018, in connection with the Reverse Merger, Inotek’s obligations under its outstanding convertible notes, with an aggregate principal value of $52,000, were assumed by the Company (the “2021 Convertible Notes”). The 2021 Convertible Notes were issued in 2016 and mature on August 1, 2021 (“Maturity Date”). The 2021 Convertible Notes are unsecured, accrue interest at a rate of 5.75% per annum and interest is payable semi-annually on February 1 and August 1 of each year.

Each holder of a 2021 Convertible Note (the “Holder”) has the option until the close of business on the second business day immediately preceding the Maturity Date to convert all, or any portion, of the 2021 Convertible Notes held by it at a conversion rate of 31.1876 shares of the Company’s common stock per $1 principal amount of 2021 Convertible Notes (the “Conversion Rate”). The Conversion Rate is subject to adjustment from time to time upon the occurrence of certain events, including the issuance of stock dividends and payment of cash dividends.

In addition, in certain circumstances, the Conversion Rate will be increased in respect of a Holder’s conversion of 2021 Convertible Notes in connection with the occurrence of one or more corporate events specified in the indenture (as supplemented, the “Indenture”) governing the 2021 Convertible Notes (each such specified corporate event, a “Make-Whole Fundamental Change”) that occurs prior to the Maturity Date (a “Make-Whole Fundamental Change Conversion”) or in respect of a Holder’s voluntary conversion of 2021 Convertible Notes other than in connection with a Make-Whole Fundamental Change (a “Voluntary Conversion”). In connection with a Make-Whole Fundamental Change Conversion or a Voluntary Conversion, the Company will increase the Conversion Rate for the 2021 Convertible Notes surrendered for conversion by a number of additional shares of the Company’s common stock set forth in the Additional Shares Make-Whole Table in the Indenture, based on the applicable Stock Price (as defined in the Indenture) and Effective Date (as defined in the Indenture) for such conversion. The additional shares potentially issuable in connection with a Make-Whole Fundamental Change Conversion or a Voluntary Conversion range from 0 to 6.2375 per $1 principal amount of 2021 Convertible Notes, subject to adjustment. If the Stock Price applicable to any conversion is greater than $160.00 per share, the Conversion Rate will not be increased. If the Stock Price applicable to any conversion is less than $26.72 per share, the Conversion Rate in connection with a Make-Whole Fundamental Change Conversion will not be increased but it will be increased by 6.2375 shares in connection with a Voluntary Conversion. Upon conversion, Holders of the 2021 Convertible Notes will receive shares of the Company’s common stock and cash in lieu of fractional shares.

Upon the occurrence of a Fundamental Change, the occurrence of certain change of control transactions or delisting events (as defined in the Indenture), each Holder may require the Company to repurchase for cash all or any portion of the 2021 Convertible Notes held by such Holder at a repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest thereon.

The Company, at its option, may redeem for cash all or any portion of the 2021 Convertible Notes if the last reported sale price of a share of the Company’s common stock is equal to or greater than 200% of the conversion price for the 2021 Convertible Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending within the five trading days immediately preceding the date on which the Company provides notice of redemption, at a redemption price equal to 100% of the principal amount of the 2021 Convertible Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.

If an Event of Default (as defined in the Indenture), other than certain events of bankruptcy, insolvency or reorganization involving the Company, occurs and is continuing, the trustee under the Indenture (the “Trustee”) or the Holders of at least 25% in principal amount of the outstanding 2021 Convertible Notes may declare 100% of the principal of and accrued and unpaid interest, if any, on all of the 2021 Convertible Notes to be due and payable immediately. Upon the occurrence of an Event of Default relating to bankruptcy, insolvency or reorganization involving the Company, 100% of the principal of and accrued and unpaid interest, if any, on all of the 2021 Convertible Notes would become due and payable automatically.

Notwithstanding the foregoing, the Indenture provides that, to the extent the Company elects, the sole remedy for an Event of Default relating to certain failures by the Company to comply with certain reporting covenants in the Indenture, will (i) for the first 90 days after the occurrence of such an Event of Default, consist exclusively of the right to receive additional interest on the 2021 Convertible Notes at a rate equal to 0.25% per annum of the principal amount of the 2021 Convertible Notes outstanding for each day during such 90-day period on which such an Event of Default is continuing and (ii) for the period from, and including, the 91st day after the occurrence of such an Event of Default to, and including, the 180th day after the occurrence of such an Event of Default, consist exclusively of the right to receive additional interest on the 2021 Convertible Notes at a rate equal to 0.50% per annum of the principal amount of the 2021 Convertible Notes outstanding for each day during such additional 90-day period on which such an Event of Default is continuing (such additional interest, “Additional Interest”). After 180 days, if such Event of Default is not cured or waived, the 2021 Convertible Notes would be subject to acceleration in accordance with the Indenture.

The 2021 Convertible Notes are considered a hybrid financial instrument consisting of a fixed interest rate “host” and various embedded features that required evaluation as potential embedded derivatives under FASB ASC 815, Derivatives and Hedging (“ASC 815”). Based on the nature of the host instrument and the embedded features, management concluded that none of the conversion, put and redemption features required bifurcation and separate accounting from the host instrument. The Company determined that the Additional Interest was an embedded derivative that contains non-credit related events of default. As a result, the Additional Interest feature required bifurcation and separate accounting under ASC 815. Based on the amount of Additional Interest that would be owed and the likelihood of occurrence, Rocket estimated the fair value of the Additional Interest feature to be insignificant upon issuance and as of March 31, 2018 and December 31, 2017.

The Company recorded the 2021 Convertible Notes at their provisional fair value of $38,388 on January 4, 2018, the date of the acquisition. The difference between the provisional fair value of the 2021 Convertible Notes and the principal value represents a discount on the notes that is being amortized to interest expense over the remaining term using the effective interest method. As of March 31, 2018, the stated interest rate was 5.75%, and the effective interest rate was 15.3%.

The table below summarizes the carrying value of the 2021 Convertible Notes as of March 31, 2018:

Principal amount	$	52,000
Discount		(12,916	)
Carrying value as of March 31, 2018	$	39,084

Accretion of the discount was $696 for the three months ended March 31, 2018.

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Mar. 31, 2018
Shareholders' Equity [Abstract]
Shareholders' Equity	9. Shareholders’ Equity Preferred Shares On January 4, 2018, immediately prior to and in connection with the closing of the Reverse Merger, and in accordance with the original terms of the convertible preferred shares, all of the outstanding convertible preferred shares of Rocket Ltd were converted into an aggregate of 19,475,788 shares of common stock. Exchange Ratio On January 4, 2018, in connection with the Reverse Merger, Rocket’s historical share and per share information has been adjusted in the consolidated financial statements presented to give effect to the Exchange Ratio. Common Shares At the time of the Reverse Merger, Rocket Ltd’s outstanding shares of common stock were 26,281,396 which includes 19,475,788 issued upon the conversion of Rocket Ltd’s convertible preferred stock. On January 24, 2018, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Cowen and Company, LLC and Evercore Group L.L.C., as representatives (the “Representatives”) of the several underwriters (collectively with the Representatives, the “Underwriters”), pursuant to which the Company sold 6,325,000 shares of common stock (the “Shares”), which includes 825,000 shares that were sold pursuant to an option granted to the Underwriters (the “Offering”). The Shares were sold in the Offering at a public offering price of $13.25 per share in which the Company received gross proceeds of $83,806 net of $5,288 of offering costs, commission and legal and other expenses for net proceeds from the Offering of $78,518, after deducting the underwriting discounts and commissions and legal and accounting costs.

Share-Based Awards

3 Months Ended

Mar. 31, 2018

Share-Based Awards [Abstract]

Share-Based Awards

10. Share-Based Awards

2015 Share Option Plan

The Rocket Ltd 2015 Share Option Plan provides for the Company to grant incentive stock options or nonqualified stock options for the purchase of common shares to employees, members of the board of directors and consultants. The 2015 Share Option Plan is administered by an administrative committee appointed by the board of directors or, in the absence of such appointment, the entire board of directors. The exercise prices, vesting and other restrictions are determined at the discretion of the board of directors, or their committee if so delegated, except that the exercise price per share of share options may not be less than 100% of the fair market value of the share of common shares on the date of grant (or 110% of the fair market value in the case of an employee who owns shares representing more than 10% of the voting power of all classes of shares for the Company) and the term of share options may not be greater than ten years (or five years in the case of an employee who owns shares representing more than 10% of the voting power of all classes of shares for the Company). The Company generally grants share-based awards with service conditions only (“service-based” awards).

As required by the 2015 Share Option Plan, the exercise price for share options granted was not to be less than the fair value of common shares as determined by the Company as of the date of grant. The Company valued its common shares by taking into consideration its most recently available valuation of common shares performed by management and the board of directors as well as additional factors which may have changed since the date of the most recent contemporaneous valuation through the date of grant.

The total number of shares that may be issued under the 2015 Share Option Plan was 9,904,050 shares; however, the 2,944,702 shares that remained available under the 2015 Share Option Plan were added to the share reserve of the 2014 Plan in connection with the Reverse Merger.

By virtue of the terms of the Merger Agreement, each stock option outstanding under the Rocket Ltd 2015 Share Option Plan immediately prior to the consummation of the Reverse Merger was automatically converted into a stock option exercisable for a number of shares of the Company’s common stock calculated based on the exchange ratio and the exercise price per share of such outstanding stock option.

Pursuant to the Merger Agreement, the Company sponsors Inotek’s equity compensation plans: the Amended and Restated 2014 Stock Option and Incentive Plan (the “2014 Plan”), the 2004 Stock Option and Incentive Plan (the “2004 Plan”), and the 2014 Employee Stock Purchase Plan (“ESPP”) and assumed all stock options and restricted stock units (“RSUs”) outstanding under each of the plans immediately prior to the effective time of the Reverse Merger.

Amended and Restated 2014 Stock Option and Incentive Plan

In August 2014, Inotek’s board of directors adopted the 2014 Plan for the issuance of incentive and non-qualified stock options, restricted stock, and other equity awards, all for common stock, as determined by the board of directors, to employees, officers, directors, consultants, and advisors of Inotek and its subsidiaries. Pursuant to the provisions of the 2014 Plan and approval by the board of directors, on January 1, 2018 an additional 272,227 shares were added to the 2014 Plan representing 4% of total common shares issued and outstanding at December 31, 2017. The 2014 Plan expires in August 2024.

2004 Stock Option and Incentive Plan

In July 2004, Inotek’s board of directors adopted the 2004 Plan for the issuance of incentive stock options, restricted stock, and other equity awards, all for common stock, as determined by the board of directors to employees, officers, directors, consultants, and advisors of Inotek and its subsidiaries. Only stock options were granted under the 2004 Plan. The 2004 Plan expired in February 2014 but remains effective for all outstanding options. All of the stock options granted under the 2004 Plan were fully vested at the time of the Reverse Merger.

Vesting of all unvested Inotek option awards issued and outstanding was accelerated at the effective time of the Reverse Merger, and all such option awards issued and outstanding at the time of the Reverse Merger, aggregating to 523,520, remained issued and outstanding. For accounting purposes, since the acceleration of vesting was negotiated in contemplation of the Reverse Merger, the remaining unrecognized compensation expense associated with the original grant date fair value of the options of $2,997 was recognized in the Company’s consolidated statement of operations for the three months ended March 31, 2018. In addition, the exercise period for all Inotek options outstanding at the effective time of the Reverse Merger was extended beyond the respective periods provided in the original awards. The Company recorded $462 in connection with the extension of the exercise periods in the consolidated statement of operations for the three months ended March 31, 2018 equal to the difference in the fair value of the options immediately prior to and immediately following the modification of the exercise period.

Share Option Valuation

The weighted average assumptions that the Company used in the Black-Scholes pricing model to determine the fair value of the share options granted to employees and directors were as follows:

	Three Months Ended March 31,
	2018			2017

Risk-free interest rate		2.57	%		2.03	%
Expected term (in years)		5.76			5.86
Expected volatility		88.60	%		94.30	%
Expected dividend yield		0.00	%		0.00	%
Exercise price	$	17.52		$	1.21
Fair value of common stock	$	17.52		$	1.21

The weighted average assumptions that the Company used in the Black-Scholes pricing model to determine the fair value of the share options granted to non-employees were as follows:

	Three Months Ended March 31, 2018
Risk-free interest rate		2.74	%
Expected term (in years)		10.0
Expected volatility		83.79	%
Expected dividend yield		0.00	%
Exercise price	$	18.75
Fair value of common stock	$	18.75

The Company recognizes compensation expense for only the portion of awards that are expected to vest.

A summary of activity under the Company’s equity plans is as follows:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Contractual Term (Years)		Aggregate Intrinsic Value

Outstanding as of December 31,2017 *		6,959,347		$	1.06		8.17	$	27,175
Assumed as part of merger with Inotek		523,520			2.31		7.53
Granted		1,190,378			17.53		9.95
Forfeited		(38,156	)		1.37
Outstanding as of March 31,2018 (unaudited)		8,635,089		$	3.58		8.18	$	130,982

Options vested and exercisable as of March 31, 2018 (unaudited)		6,357,746		$	1.16		7.10	$	111,852

* Effected by Exchange Ratio

Restricted Stock Units

All unvested Inotek’s RSU awards issued and outstanding were accelerated at the effective time of the Reverse Merger. For accounting purposes, since the acceleration of vesting upon change of control was included in the original terms of the award, the remaining unrecognized compensation expense associated with the original grant date fair value of the RSU awards was recognized as a pre-merger expense of Inotek.

The following table summarizes the RSU activity for the three months ended March 31, 2018 under the 2014 Stock Option and Incentive Plan:

	Number of Shares
Outstanding as of December 31, 2017		-
Assumed as part of merger with Inotek		271,719
Settled		(1,875	)
Outstanding as of March 31, 2018		269,844

As of March 31, 2018, due to lockup agreements signed in conjunction with the Reverse Merger, 269,844 RSU’s remain unsettled.

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 exercise prices lower than the fair value of the Company’s common stock.

The weighted average grant-date fair value per share of stock options granted during the three months ended March 31, 2018 and 2017 was $12.84 and $1.21, respectively.

The total fair value of options vested during the year ended March 31, 2018 and the three months ended March 31, 2018 and 2017 was $24,724 and $1,583, respectively.

Employee Stock Purchase Plan

In November 2014, Inotek’s board of directors adopted and the stockholders approved the ESPP. The ESPP provides that the number of shares reserved and available for issuance under the ESPP shall be cumulatively increased each January 1, beginning on January 1, 2016, by the lesser of (i) 150,000 shares of common stock or (ii) the number of shares necessary to set the number of shares of common stock under the ESPP at 1% percent of the outstanding number of shares as of January 1 of the applicable year. However, the board of directors reserves the right to determine that there will be no increase for any year or that any increase will be for a lesser number of shares. On January 1, 2018, 6,562 shares were added to the ESPP. As of March 31, 2018, there were 68,256 shares available for issuance under the ESPP. During the three months ended March 31, 2018, 0 shares of common stock were purchased pursuant to the ESPP. The Company recorded $0 of stock-based compensation expense pursuant to the ESPP during the three months ended March 31, 2018.

Share-Based Compensation

Share-based compensation expense is reflected in the consolidated statements of operations as follows:

	Three Months Ended March 31,
	2018		2017

Research and development	$	2,207	$	61
General and administrative		3,175		38
Total share based compensation expense	$	5,382	$	99

As of March 31, 2018, the Company had an aggregate of $25,836 of unrecognized share-based compensation cost, which is expected to be recognized over the weighted average period of 2.45 years.

Net Loss Per Share

3 Months Ended

Mar. 31, 2018

Net Loss Per Share [Abstract]

Net Loss Per Share

11. Net Loss Per Share

Basic and diluted net loss per share attributable to common shareholders was calculated as follows:

	Three Months Ended March 31,
	2018			2017

Numerator:
Net loss attributable to common shareholders	$	(15,343	)	$	(2,678	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		36,137,120			6,795,627
Net loss per share attributable to common shareholders - basic and diluted	$	(0.42	)	$	(0.39	)

The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common shareholders for the periods indicated because including them would have had an anti-dilutive effect:

	Three Months Ended March 31,
	2018		2017
Shares issuable upon conversion of the 2021 Convertible Notes		1,620,948		-
Warrants exercisable for common shares		14,102		-
Options to purchase common shares		8,635,089		6,207,401
Redeemable Series A convertible preferred shares (as converted to common shares)		-		9,807,564
Redeemable Series A convertible preferred shares (as converted to common shares)		-		9,668,224
		10,270,139		25,683,189

Commitments and Contingencies

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies [Abstract]

Commitments and Contingencies

12. Commitments and Contingencies

Operating Leases

On March 31, 2016, the Company entered into a lease agreement for its office space in New York, New York whose term ends on July 31, 2021. In connection with the lease agreement, the Company established an irrevocable standby letter of credit (“LOC”) with a bank. The LOC serves as the Company’s security deposit on the lease, in which the landlord is the beneficiary. The LOC expires and is automatically renewed April 8 of each succeeding calendar year up to October 29, 2020, unless written notice is provided no later than 90 days before the then existing expiration date. The Company has a certificate of deposit with a bank as collateral for the stand by letter of credit which is classified as restricted cash in the consolidated balance sheets. The restricted cash balance at March 31, 2018 is $208. Rent expense was $140 and $139 for the three months ended March 31, 2018 and 2017, respectively.

In January 2018, in connection with the Reverse Merger, the Company assumed an operating lease of Inotek for its former headquarters in Lexington, Massachusetts, whose term ends in February 2023. Rent expense was $83 during the three months ended March 31, 2018 in connection with the assumed lease.

As of March 31, 2018, the remaining aggregate annual commitments pursuant to the leases, as amended, are as follows:

2018 (remaining nine months)	$	641
2019		874
2020		897
2021		718
2022		445
Thereafter		74
Total	$	3,649

Securities Litigation

On January 6, 2017, a purported stockholder of Inotek filed a putative class action in the U.S. District Court for the District of Massachusetts, captioned Whitehead v. Inotek Pharmaceuticals Corporation, et al., No. 1:17-cv-10025. An amended complaint was filed on July 10, 2017, and a second amended complaint was filed on September 5, 2017. The second amended complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 against the Company, David Southwell, and Rudolf Baumgartner based on allegedly false and misleading statements and omissions regarding Inotek’s phase 2 and phase 3 clinical trials of trabodenoson. The lawsuit seeks, among other things, unspecified compensatory damages for purchasers of Inotek’s common stock between July 23, 2015 and July 10, 2017, as well as interest and attorneys’ fees and costs. The defendants filed a motion to dismiss the second amended complaint on October 6, 2017, the plaintiffs opposed the motion on December 5, 2017, and the defendants filed a reply on January 16, 2018. The Company continues to vigorously defend itself against this claim.

From time to time, the Company may be subject to other various legal proceedings and claims that arise in the ordinary course of its business activities. Although the results of litigation and claims cannot be predicted with certainty, the Company does not believe it is party to any other claim or litigation the outcome of which, if determined adversely to the Company, would individually or in the aggregate be reasonably expected to have a material adverse effect on its business. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources and other factors.

Indemnification Arrangements

Pursuant to its bylaws and as permitted under Delaware law, the Company has indemnification obligations to directors, officers, employees or agents of the Company or anyone serving in these capacities. The maximum potential amount of future payments the Company could be required to pay is unlimited. The Company has insurance that reduces its monetary exposure and would enable it to recover a portion of any future amounts paid. As a result, the Company believes that the estimated fair value of these indemnification commitments is minimal.

Throughout the normal course of business, the Company has agreements with vendors that provide goods and services required by the Company to run its business. In some instances, vendor agreements include language that requires the Company to indemnify the vendor from certain damages caused by the Company’s use of the vendor’s goods and/or services. The Company has insurance that would allow it to recover a portion of any future amounts that could arise from these indemnifications. As a result, the Company believes that the estimated fair value of these indemnification commitments is minimal.

Agreements Related to Intellectual Property	3 Months Ended
Agreements Related to Intellectual Property	Mar. 31, 2018
Agreements Related to Intellectual Property [Abstract]
Agreements Related to Intellectual Property	13. Agreements Related to Intellectual Property The Company has entered into various license and research and collaboration arrangements. The transactions principally resulted in the acquisition of rights to intellectual property which is in the preclinical phase and have not been tested for safety or feasibility. In all cases, the Company did not acquire tangible assets, processes, protocols or operating systems. The Company expenses the acquired intellectual property rights as of the acquisition date on the basis that the cost of intangible assets purchased from others for use in research and development activities, has no alternative future uses. License 161101 and SRA 161101 On April 20, 2018, the Company entered into Amendment No. 1 to the clinical trial agreement with the Fred Hutchinson Research Cancer Center (“Hutch”) for the clinical trial entitled: Gene Therapy for Patients with Fanconi Anemia Complementation Group A. The Company agreed to pay $108 for additional budgeted amounts for the period from March 2018 through August 2018. LAD-I (leukocyte adhesion deficiency-I) Agreement with CIEMAT On March 1, 2018, the Company entered into Amendment No. 1 to the Master Research Agreement (“MRA”) whereby the Company and Centro de Investigaciones Energéticas, Medioambientales y Tecnológicas (“CIEMAT”) agreed to a modification of the original commitment from Rocket down to approximately $444.

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	14. Related Party Transactions During March 2018, the Company entered into a consulting agreement with a member of the Board of Directors for strategic and corporate consulting services to be provided to the Company. The Company accrued $48 for the three months ended March 31, 2018 relating to services provided under this consulting agreement which was paid in April 2018. During January 2018, the Company sold certain furniture and fixtures from the Inotek former corporate headquarter to a director of the Company for $20.

401(k) Savings Plan	3 Months Ended
401(k) Savings Plan	Mar. 31, 2018
401(k) Savings Plan [Abstract]
401(k) Savings Plan	15. 401(k) Savings Plan The Company has a defined contribution savings plan (the “Plan”) under Section 401(k) of the Internal Revenue Code of 1986 (the “Code”). This Plan covers substantially all employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. Company contributions to the Plan may be made at the discretion of the Company’s board of directors. The Company has elected to match 4% of employee contributions to the Plan, subject to certain limitations. The Company’s matching contribution for the three months ended March 31, 2018 and 2017, was $30 and $27, respectively.

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events In April 2018, the Company entered into a consulting agreement with a different member of the Board of Directors for business development consulting services. Payments for the services under the agreement are $28 per quarter, and the Company may terminate the agreement with 14 days’ notice.

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Use of Estimates

Cash, Cash Equivalents and Restricted Cash

	March 31, 2018		December 31, 2017

Cash and cash equivalents	$	171,136	$	18,142
Restricted cash		208		207
	$	171,344	$	18,349

Short-term investments

Short term Investments

Short term investments at March 31, 2018 consist of the following:

	Cost Basis		Unrealized Gains		Fair Value
Current:
Certificates of deposit	$	1,546	$	-	$	1,546
United States Treasury securities		10,005		10		10,015
	$	11,551	$	10	$	11,561

Goodwill

The Company has determined there were no indicators of goodwill impairment as of March 31, 2018.

Property and Equipment

Fair Value Measurements

Level 1—Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2—Valuations based on quoted prices for similar assets or liabilities in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3—Valuations that require inputs that reflect the Company’s own assumptions that are both significant to the fair value measurement and unobservable.

Deferred Rent and Lease Liability

Research and Development

Foreign Currency Transactions

Stock-Based Compensation

Share-Based Compensation

The Company recognizes compensation expense for only the portion of awards that are expected to vest. Forfeitures are recorded as they occur.

NYC Biotechnology Tax Credit Program

Recent Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

Summary of Significant Accounting Policies [Abstract]

Cash, Cash Equivalents and Restricted Cash

Cash, cash equivalents and restricted cash consist of the following:

	March 31, 2018		December 31, 2017

Cash and cash equivalents	$	171,136	$	18,142
Restricted cash		208		207
	$	171,344	$	18,349

Short-term Investment

Short term investments at March 31, 2018 consist of the following:

	Cost Basis		Unrealized Gains		Fair Value
Current:
Certificates of deposit	$	1,546	$	-	$	1,546
United States Treasury securities		10,005		10		10,015
	$	11,551	$	10	$	11,561

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Acquisition Accounting (Tables)

3 Months Ended

Mar. 31, 2018

Acquisition Accounting [Abstract]

Schedule of Acquisition-date Fair Value of Consideration

The acquisition-date fair value of the consideration transferred is as follows:

Number of shares of the combined company owned by Inotek shareholders		6,805,608
Number of shares issuable in connection with fully vested RSUs of Inotek immediately prior to the Reverse Merger		271,718
Inotek common stock on the acquisition date		7,077,326
Price per share of Inotek common stock on acquisition date	$	12.16
Total purchase price	$	86,060

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Cash and cash equivalents	$	76,348
Short term investments		21,292
Prepaid expense and other assets		1,041
Property and equipment		256
Deposits		168
Goodwill		30,815
Accounts payable and accrued expenses		(4,961	)
Convertible notes		(38,388	)
Unfavorable lease liability		(511	)
Net assets acquired	$	86,060

Schedule of Pro Forma Information

The following supplemental unaudited pro forma information presents the Company’s financial results as if the acquisition of Inotek had occurred on January 1, 2017:

	Three Months Ended March 31,
	2018			2017
Revenue	$	-		$	-
Net loss		(15,998	)		(15,670	)

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value of Financial Instruments [Abstract]

Fair Value of Financial Instruments Measured on Recurring Basis

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy:

	Fair Value Measurements as of March 31, 2018 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Money market mutual funds (included in cash and cash equivalents)	$	79,910	$	-	$	-	$	79,910

Certificates of deposit	$	1,546	$	-	$	-	$	1,546
United States Treasury securities		10,015		-		-		10,015
Short-term investments		11,561		-		-		11,561

	$	91,471	$	-	$	-	$	91,471

Property and Equipment (Tables)

3 Months Ended

Mar. 31, 2018

Property and Equipment [Abstract]

Schedule of Property and Equipment

The Company’s property and equipment consisted of the following:

	March 31, 2018			December 31, 2017
Laboratory equipment	$	1,042		$	1,042
Computer equipment		106			98
Furniture and fixtures		351			115
		1,499			1,255
Less: Accumulated depreciation		(353	)		(270	)
	$	1,146		$	985

Accounts Payable and Accrued Expenses (Tables)

3 Months Ended

Mar. 31, 2018

Accounts Payable and Accrued Expenses [Abstract]

Schedule of Accounts Payable and Accrued Expenses

At March 31, 2018 and December 31, 2017, the Company’s accounts payable and accrued expenses consisted of the following:

	March 31, 2018		December 31, 2017
Bonus	$	956	$	703
Research and development		956		814
Severance and benefits		891		88
Professional fees		609		382
Government payable		513		—
Accrued interest		493		—
Other		149		25
Compensation and benefits		128		50
Accounts payable		67		—
	$	4,762	$	2,062

Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt [Abstract]

Summary of Carrying Value of Convertible Notes

The table below summarizes the carrying value of the 2021 Convertible Notes as of March 31, 2018:

Principal amount	$	52,000
Discount		(12,916	)
Carrying value as of March 31, 2018	$	39,084

Share-Based Awards (Tables)

3 Months Ended

Mar. 31, 2018

Share-Based Awards [Abstract]

Weighted-Average Assumptions for Stock Options

The weighted average assumptions that the Company used in the Black-Scholes pricing model to determine the fair value of the share options granted to employees and directors were as follows:

	Three Months Ended March 31,
	2018			2017

Risk-free interest rate		2.57	%		2.03	%
Expected term (in years)		5.76			5.86
Expected volatility		88.60	%		94.30	%
Expected dividend yield		0.00	%		0.00	%
Exercise price	$	17.52		$	1.21
Fair value of common stock	$	17.52		$	1.21

The weighted average assumptions that the Company used in the Black-Scholes pricing model to determine the fair value of the share options granted to non-employees were as follows:

	Three Months Ended March 31, 2018
Risk-free interest rate		2.74	%
Expected term (in years)		10.0
Expected volatility		83.79	%
Expected dividend yield		0.00	%
Exercise price	$	18.75
Fair value of common stock	$	18.75

Summary of Stock Option Activity

A summary of activity under the Company’s equity plans is as follows:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Contractual Term (Years)		Aggregate Intrinsic Value

Outstanding as of December 31,2017 *		6,959,347		$	1.06		8.17	$	27,175
Assumed as part of merger with Inotek		523,520			2.31		7.53
Granted		1,190,378			17.53		9.95
Forfeited		(38,156	)		1.37
Outstanding as of March 31,2018 (unaudited)		8,635,089		$	3.58		8.18	$	130,982

Options vested and exercisable as of March 31, 2018 (unaudited)		6,357,746		$	1.16		7.10	$	111,852

* Effected by Exchange Ratio

Summary of RSU Activity

The following table summarizes the RSU activity for the three months ended March 31, 2018 under the 2014 Stock Option and Incentive Plan:

	Number of Shares
Outstanding as of December 31, 2017		-
Assumed as part of merger with Inotek		271,719
Settled		(1,875	)
Outstanding as of March 31, 2018		269,844

Stock-Based Compensation Expense

Share-based compensation expense is reflected in the consolidated statements of operations as follows:

	Three Months Ended March 31,
	2018		2017

Research and development	$	2,207	$	61
General and administrative		3,175		38
Total share based compensation expense	$	5,382	$	99

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2018

Net Loss Per Share [Abstract]

Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share attributable to common shareholders was calculated as follows:

	Three Months Ended March 31,
	2018			2017

Numerator:
Net loss attributable to common shareholders	$	(15,343	)	$	(2,678	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		36,137,120			6,795,627
Net loss per share attributable to common shareholders - basic and diluted	$	(0.42	)	$	(0.39	)

Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share

	Three Months Ended March 31,
	2018		2017
Shares issuable upon conversion of the 2021 Convertible Notes		1,620,948		-
Warrants exercisable for common shares		14,102		-
Options to purchase common shares		8,635,089		6,207,401
Redeemable Series A convertible preferred shares (as converted to common shares)		-		9,807,564
Redeemable Series A convertible preferred shares (as converted to common shares)		-		9,668,224
		10,270,139		25,683,189

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies [Abstract]

Remaining Aggregate Annual Commitments

As of March 31, 2018, the remaining aggregate annual commitments pursuant to the leases, as amended, are as follows:

2018 (remaining nine months)	$	641
2019		874
2020		897
2021		718
2022		445
Thereafter		74
Total	$	3,649

Nature of Business, Merger and Basis of Presentation (Details)		3 Months Ended
	Jan. 04, 2018 $ / shares shares	Mar. 31, 2018 Program Platform $ / shares	Dec. 31, 2017 $ / shares
Business Acquisition [Line Items]
Number of programs currently undergoing clinical testing targeting Fanconi Anemia \| Program		2
Number of additional programs in preclinical stages targeting other rare genetic diseases \| Program		3
Estimated period to file an investigational new drug application		12 months
Number of technology platforms designed in collaboration with academic and industry partners \| Platform		2
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01	$ 0.01
Common Stock [Member]
Business Acquisition [Line Items]
Ownership percentage held by parent on fully diluted basis	81.357%
Inotek [Member] \| Common Stock [Member]
Business Acquisition [Line Items]
Number of shares received pursuant to merger agreement (in shares) \| shares	76.185
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01
Non-controlling interest, ownership percentage on fully diluted basis	18.643%

Risks and Liquidity (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Risks and Liquidity [Abstract]
Accumulated deficit	$ (46,698)	$ (31,355)
Cash, cash equivalents and short-term investments	$ 182,697

Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018 USD ($) Segment	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Restricted Cash [Abstract]
Cash and cash equivalents	$ 171,136		$ 18,142
Restricted cash	208		207
Total	171,344	$ 27,360	$ 18,349	$ 9,665
Short-term Investments [Abstract]
Realized gains (losses) on short-term investment	0	0
Net unrealized gains on short-term investment	10	0
Schedule of Available-for-sale Securities [Line Items]
Cost basis	11,551
Unrealized gains	10
Fair value	11,561
Other than temporary impairment	0
NYC Biotechnology Tax Credit Program [Abstract]
Research and development incentive	$ 186
Research and development incentive receivable		$ 192
Income Taxes [Abstract]
Federal corporate tax rate	21.00%		34.00%
Segment Reporting [Abstract]
Number of operating segments \| Segment	1
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Certificates of Deposit [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost basis	$ 1,546
Unrealized gains	0
Fair value	1,546
United States Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Cost basis	10,005
Unrealized gains	10
Fair value	$ 10,015

Acquisition Accounting (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Jan. 04, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Estimated Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Goodwill		$ 30,815		$ 0
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Share-based compensation expense		5,382	$ 99
Inotek [Member]
Acquisition-date Fair Value of Consideration Transferred [Abstract]
Number of shares issuable - consideration transferred (in shares)	7,077,326
Price per share of Inotek common stock on acquisition date (in dollars per share)	$ 12.16
Total purchase price	$ 86,060
Estimated Fair Values of Assets Acquired and Liabilities Assumed [Abstract]
Cash and cash equivalents	76,348
Short-term investments	21,292
Prepaid expense and other assets	1,041
Property and equipment	256
Deposits	168
Goodwill	30,815
Accounts payable and accrued expenses	(4,961)
Convertible notes	(38,388)
Unfavorable lease liability	(511)
Net assets acquired	$ 86,060
Acquisition costs incurred		132
Supplemental Unaudited Pro Forma Information [Abstract]
Revenue		0	0
Net loss		(15,998)	$ (15,670)
Inotek [Member] \| Restricted Stock Units [Member]
Acquisition-date Fair Value of Consideration Transferred [Abstract]
Number of shares issuable - consideration transferred (in shares)	271,718
Inotek [Member] \| Common Stock [Member]
Acquisition-date Fair Value of Consideration Transferred [Abstract]
Number of shares issuable - consideration transferred (in shares)	6,805,608
Inotek [Member] \| Acquisition-related Costs [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Transaction costs		4,512
Share-based compensation expense		3,459
Severance and stay bonuses expenses		$ 1,622

Fair Value of Financial Instruments (Details) - Recurring [Member] $ in Thousands	Mar. 31, 2018 USD ($)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value of financial instruments	$ 91,471
Money Market Mutual Funds [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	79,910
Certificates of Deposit [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	1,546
United States Treasury Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	10,015
Short-term Investments [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	11,561
Level 1 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value of financial instruments	91,471
Level 1 [Member] \| Money Market Mutual Funds [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	79,910
Level 1 [Member] \| Certificates of Deposit [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	1,546
Level 1 [Member] \| United States Treasury Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	10,015
Level 1 [Member] \| Short-term Investments [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	11,561
Level 2 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value of financial instruments	0
Level 2 [Member] \| Money Market Mutual Funds [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	0
Level 2 [Member] \| Certificates of Deposit [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	0
Level 2 [Member] \| United States Treasury Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	0
Level 2 [Member] \| Short-term Investments [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	0
Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Fair value of financial instruments	0
Level 3 [Member] \| Money Market Mutual Funds [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	0
Level 3 [Member] \| Certificates of Deposit [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	0
Level 3 [Member] \| United States Treasury Securities [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	0
Level 3 [Member] \| Short-term Investments [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Cash and cash equivalents	$ 0

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 1,499		$ 1,255
Less: Accumulated depreciation	(353)		(270)
Property and equipment, net	1,146		985
Depreciation expense	83	$ 28
Laboratory Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	1,042		1,042
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	106		98
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, Gross	$ 351		$ 115

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts Payable and Accrued Expenses [Abstract]
Bonus	$ 956	$ 703
Research and development	956	814
Severance and benefits	891	88
Professional fees	609	382
Government payable	513	0
Accrued interest	493	0
Other	149	25
Compensation and benefits	128	50
Accounts payable	67	0
Total	$ 4,762	$ 2,062

Debt (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Carrying value of convertible notes [Abstract]
Discount	$ 696	$ 0
Carrying value	$ 39,084		$ 0
2021 Convertible Notes [Member]
Debt Instrument [Line Items]
Debt instrument maturity date	Aug. 01, 2021
Convertible senior notes, interest rate, stated percentage	5.75%
Debt conversion ratio	31.1876
Conversion price (in dollars per share)	$ 1
Percentage of common stock conversion price	200.00%
Number of trading days immediately preceding notice of redemption	5 days
Redemption price percentage	100.00%
Percentage of convertible notes due and payable in event of default	100.00%
Debt instrument, additional interest in the event of default for first 90 Days	0.25%
Debt instrument, additional interest in the event of default between 91st Day to 180th Day	0.50%
Effective interest rate	15.30%
Fair value convertible note	$ 38,388
Carrying value of convertible notes [Abstract]
Principal amount	52,000
Discount	(12,916)
Carrying value	$ 39,084
2021 Convertible Notes [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt conversion ratio	0
Stock price considered for conversion rate (in dollars per share)	$ 26.72
Percentage holders of principal amount of debt	25.00%
2021 Convertible Notes [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt conversion ratio	6.2375
Stock price considered for conversion rate (in dollars per share)	$ 160.00

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended
	Jan. 24, 2018	Jan. 04, 2018	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)		26,281,396	39,403,898		6,795,627
Gross proceeds, offering amount			$ 78,518	$ 0
Underwriting expenses			$ 5,300
Common Stock [Member]
Class of Stock [Line Items]
Conversion of convertible preferred shares into ordinary shares (in shares)		19,475,788	(19,475,788)
Number of shares sold (in shares)			6,325,000
Underwriting Agreement [Member]
Class of Stock [Line Items]
Number of shares sold (in shares)	6,325,000
Options granted (in shares)	825,000
Public offering price (in dollars per share)	$ 13.25
Gross proceeds, offering amount	$ 83,806
Underwriting expenses	5,288
Net proceeds, offering amount	$ 78,518

Share-Based Awards (Details) - USD ($) $ in Thousands	3 Months Ended
Share-Based Awards (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,382	$ 99
2015 Share Option Plan [Member] \| Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price per share of share options to fair market value of ordinary shares on date of grant, employees with at least 10% voting power	110.00%
Term of share options for employees with at least 10% voting power.	5 years
Number of shares available for issuance (in shares)	9,904,050
2015 Share Option Plan [Member] \| Stock Options [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price per share of share options to fair market value of ordinary shares on date of grant	100.00%
2015 Share Option Plan [Member] \| Stock Options [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term Period of share options	10 years
Amended and Restated 2014 Stock Option and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional number of shares authorized (in shares)	272,227
Percentage of shares outstanding used to calculate annual increase in number of shares that can be issued (in shares)	4.00%
Amended and Restated 2014 Stock Option and Incentive Plan [Member] \| Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance (in shares)	2,944,702
2004 Stock Option and Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,997
Incremental compensation cost	$ 462

Share-Based Awards, Share Option Valuation (Details) - Stock Options [Member] - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Dec. 31, 2017

^[1]

Stock Option Activity [Roll Forward]

Outstanding at beginning of period (in shares)

^[1]

6,959,347

Granted (in shares)

1,190,378

Forfeited (in shares)

(38,156)

Outstanding at end of period (in shares)

8,635,089

6,959,347

Options vested and exercisable at end of period (in shares)

6,357,746

Weighted Average Exercise Price [Abstract]

Outstanding at beginning of period (in dollars per share)

^[1]

$ 1.06

Granted (in dollars per share)

17.53

forfeited (in dollars per share)

1.37

Outstanding at end of period (in dollars per share)

3.58

$ 1.06

Options vested and exercisable at end of period (in dollars per share)

$ 1.16

Weighted-Average Remaining Contractual Term [Abstract]

Outstanding

8 years 2 months 5 days

8 years 2 months 1 day

Granted

9 years 11 months 12 days

Options vested and exercisable

7 years 1 month 6 days

Aggregate Intrinsic Value [Abstract]

Outstanding

$ 130,983

$ 27,175

Options vested and exercisable

$ 111,852

Inotek [Member]

Stock Option Activity [Roll Forward]

Assumed as part of merger (in shares)

523,520

Weighted Average Exercise Price [Abstract]

Assumed as part of merger (in dollars per share)

$ 2.31

Weighted-Average Remaining Contractual Term [Abstract]

Assumed as part of merger

7 years 6 months 11 days

Employees and Directors [Member]

Weighted-Average Assumptions [Abstract]

Risk-free interest rate

2.57%

2.03%

Expected term

5 years 9 months 4 days

5 years 10 months 10 days

Expected volatility

88.60%

94.30%

Expected dividend yield

0.00%

Exercise price

$ 17.52

$ 1.21

Fair value of common stock

$ 17.52

$ 1.21

Non-Employees [Member]

Weighted-Average Assumptions [Abstract]

Risk-free interest rate

2.74%

Expected term

10 years

Expected volatility

83.79%

Expected dividend yield

0.00%

Exercise price

$ 18.75

Fair value of common stock

$ 18.75

[1]	Effected by Exchange Ratio

Share-Based Awards, Restricted Stock Units (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Stock Options [Member]
RSU Activity [Roll Forward]
Weighted average grant date fair value of shares granted (in dollars per share)	$ 12.84	$ 1.21
Total fair value of options vested	$ 24,724	$ 1,583
2014 Share Option Plan [Member] \| Restricted Stock Units [Member]
RSU Activity [Roll Forward]
Outstanding at beginning of period (in shares)	0
Settled (in shares)	(1,875)
Outstanding at end of period (in shares)	269,844
2014 Share Option Plan [Member] \| Restricted Stock Units [Member] \| Inotek [Member]
RSU Activity [Roll Forward]
Assumed as part of reverse merger (in shares)	271,719

Share-Based Awards, Employee Stock Purchase Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 5,382	$ 99
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual maximum increase in number of shares that can be issued under ESPP (in shares)	150,000
Percentage of shares outstanding used to calculate annual increase in number of shares that can be issued (in shares)	1.00%
Number of shares added to ESPP (in shares)	6,562
Number of shares available for issuance (in shares)	68,256
Shares issued under ESPP (in shares)	0
Stock-based compensation expense	$ 0

Share-Based Awards, Share-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Stock-Based Compensation Expense [Abstract]
Stock-based compensation expense	$ 5,382	$ 99
Unrecognized share-based compensation cost	$ 25,836
Weighted average period expected to recognize unrecognized share-based compensation cost	2 years 5 months 12 days
Research and Development [Member]
Stock-Based Compensation Expense [Abstract]
Stock-based compensation expense	$ 2,207	61
General and Administrative [Member]
Stock-Based Compensation Expense [Abstract]
Stock-based compensation expense	$ 3,175	$ 38

Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net loss attributable to common shareholders	$ (15,343)	$ (2,678)
Denominator:
Weighted-average common shares outstanding - basic and diluted (in shares)	36,137,120	6,795,627
Net loss per share attributable to common shareholders - basic and diluted (in dollars per share)	$ (0.42)	$ (0.39)
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Securities excluded from computation of diluted net loss per share (in shares)	10,270,139	25,683,189
Shares Issuable upon Conversion of the 2021 Convertible Notes [Member]
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Securities excluded from computation of diluted net loss per share (in shares)	1,620,948	0
Warrants Exercisable for Common Shares [Member]
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Securities excluded from computation of diluted net loss per share (in shares)	14,102	0
Options to Purchase Common Shares [Member]
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Securities excluded from computation of diluted net loss per share (in shares)	8,635,089	6,207,401
Redeemable Series A Convertible Preferred Shares [Member]
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Securities excluded from computation of diluted net loss per share (in shares)	0	9,807,564
Redeemable Series A Convertible Preferred Shares [Member]
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Securities excluded from computation of diluted net loss per share (in shares)	0	9,668,224

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Operating Leased Assets [Line Items]
Restricted cash	$ 208		$ 207
Remaining Aggregate Annual Commitments [Abstract]
2018 (remaining nine months)	641
2019	874
2020	897
2021	718
2022	445
Thereafter	74
Total	$ 3,649
Office Space in New York [Member]
Operating Leased Assets [Line Items]
LOC expiration date	Oct. 29, 2020
Number of days written notice	90 days
Rent expense	$ 140	$ 139
Lease expiration date	Feb. 28, 2023
Inotek Former Headquarters [Member]
Operating Leased Assets [Line Items]
Rent expense	$ 83

Agreements Related to Intellectual Property (Details) - USD ($) $ in Thousands		3 Months Ended
	Mar. 01, 2018	Mar. 31, 2018
Agreements Related to Intellectual Property [Abstract]
Payable amount for additional budgeted amounts		$ 108
Intellectual property change in budget amount	$ (444)

Related Party Transactions (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2018	Mar. 31, 2018	Mar. 31, 2017
Related Party Transaction [Line Items]
Proceeds from sale of property and equipment		$ 20	$ 0
Member of the Board of Directors [Member]
Related Party Transaction [Line Items]
Accrued consulting services		$ 48
Director of Inotek Former Corporate Headquarters [Member]
Related Party Transaction [Line Items]
Proceeds from sale of property and equipment	$ 20

401(k) Savings Plan (Details) - USD ($) $ in Thousands	3 Months Ended
401(k) Savings Plan (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
401(k) Savings Plan [Abstract]
Percentage of matching employee contributions	4.00%
Matching employee contributions	$ 30	$ 27

Subsequent Events (Details) - Subsequent Events [Member] - Member of Board of Directors [Member] $ in Thousands	1 Months Ended
	Apr. 30, 2018 USD ($)
Subsequent Event [Line Items]
Business development consulting services expense (per quarter)	$ 28
Termination notice period for business development consulting services agreement	14 days