Codiak BioSciences, Inc.

2022 Q1 Form 10-K Financial Statement

#000095017022003373 Filed on March 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021

Balance Sheet

Concept 2022 Q1 2021 Q4 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.49M $76.94M $76.94M
YoY Change -56.64% -13.46% -13.46%
Cash & Equivalents $56.49M $76.94M $76.94M
Short-Term Investments
Other Short-Term Assets $13.42M $13.23M $13.23M
YoY Change 204.98% 175.69% 175.69%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $69.91M $90.17M $90.17M
YoY Change -48.1% -3.83% -3.87%
LONG-TERM ASSETS
Property, Plant & Equipment $22.46M $23.48M $45.44M
YoY Change -57.39% -25.25% -14.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $36.06M $36.06M $36.06M
YoY Change 758.64% 758.64% 758.64%
Total Long-Term Assets $80.16M $81.50M $81.50M
YoY Change 41.12% 41.53% 41.74%
TOTAL ASSETS
Total Short-Term Assets $69.91M $90.17M $90.17M
Total Long-Term Assets $80.16M $81.50M $81.50M
Total Assets $150.1M $171.7M $171.7M
YoY Change -21.63% 13.43% 13.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.516M $1.838M $1.838M
YoY Change -31.09% -8.92% -8.1%
Accrued Expenses $6.808M $9.703M $12.36M
YoY Change -24.36% 9.39% 18.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.54M $27.17M $27.17M
YoY Change -25.54% 53.9% 53.47%
LONG-TERM LIABILITIES
Long-Term Debt $25.51M $25.43M $25.43M
YoY Change 1.65% 1.72% 1.72%
Other Long-Term Liabilities $64.64M $65.57M $65.57M
YoY Change -21.27% -30.39% -30.39%
Total Long-Term Liabilities $90.15M $91.00M $91.00M
YoY Change -15.9% -23.66% -23.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.54M $27.17M $27.17M
Total Long-Term Liabilities $90.15M $91.00M $91.00M
Total Liabilities $101.7M $118.2M $118.2M
YoY Change -17.19% -13.61% -13.62%
SHAREHOLDERS EQUITY
Retained Earnings -$333.3M -$325.2M
YoY Change 12.9%
Common Stock $2.000K $2.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $0.00 $0.00
Shareholders Equity $48.38M $53.51M $53.51M
YoY Change
Total Liabilities & Shareholders Equity $150.1M $171.7M $171.7M
YoY Change -21.63% 13.43% 13.46%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;">1. Nature of the business</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;"> </span></p><p style="text-indent:5.667%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">Codiak BioSciences, Inc. (collectively, with its consolidated subsidiaries, any of Codiak, we, us, or the Company) was incorporated in Delaware on </span><span style="font-size:10.0pt;font-family:Arial;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">June 12, 2015</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> and is headquartered in Cambridge, Massachusetts. Codiak is a clinical-stage biopharmaceutical company focused on pioneering the development of exosome-based therapeutics, a new class of medicines with the potential to transform the treatment of a wide spectrum of diseases with high unmet medical need. Exosomes have evolved as intercellular transfer mechanisms for complex, biologically active macromolecules and have emerged in recent years as a compelling potential drug delivery vehicle. By leveraging Codiak’s deep understanding of exosome biology, the Company has developed its engineering and manufacturing platform (the engEx Platform), to expand upon the innate properties of exosomes to design, engineer and manufacture novel exosome therapeutics. Codiak has utilized its engEx Platform to generate a deep pipeline of engineered exosomes (engEx exosomes) aimed at treating a broad range of diseases, including oncology, neuro-oncology, and infectious disease and rare disease. In September 2020, Codiak initiated clinical trials for its two lead product candidates, exoSTING and exoIL-12, which are being developed to address solid tumors. In November 2021, Codiak announced that the U.S. Food and Drug Administration, or FDA, cleared its Investigational New Drug Application (IND) for exoASO-STAT6. This will be Codiak’s first systemically delivered exosome therapeutic candidate. To its knowledge, exoSTING,exoIL-12 and exoASO-STAT6 are the first engineered exosomes to enter clinical development.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> </span></p><p style="text-indent:5.733%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">Since its inception, the Company has devoted substantially all of its resources to its research and development efforts, including activities to develop its engEx Platform, advance engEx product candidates into clinical trials, perform preclinical research to identify potential engEx product candidates, to perform process development to refine Codiak’s exosome engineering and manufacturing processes, and to provide general and administrative support for these operations.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> </span></p><p style="text-indent:5.733%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">The Company has primarily funded its operations with proceeds from the sales of common stock, redeemable convertible preferred stock, collaborative and research arrangements with Jazz and Sarepta and its Loan and Security agreement with Hercules Capital, Inc. (Hercules). As of December 31, 2021</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">, the Company has raised an aggregate of $</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">168.2</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> million through the issuance of its redeemable convertible preferred stock and convertible debt, net of issuance costs, $</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">24.6</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> million from its term loan facility with Hercules, net of issuance costs, and received $</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">66.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> million in payments from its collaborations with Jazz and Sarepta. On October 16, 2020, the Company completed its initial public offering (IPO), pursuant to which it issued and sold </span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">5,500,000</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> shares of its common stock at a public offering price of $</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">15.00</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> per share, resulting in net proceeds of $</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">74.4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> million, after deducting underwriting discounts and commissions and other offering expenses. In addition, on February 17, 2021, the Company completed a follow-on public offering, pursuant to which it issued and sold </span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">3,162,500</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> shares of its common stock (inclusive of the exercise of the underwriter’s option to purchase </span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">412,500</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> additional shares of common stock) at a public offering price of $</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">21.00</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> per share, resulting in aggregate net proceeds of $</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">61.7</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> million, after deducting underwriting discounts and commissions and other offering expenses.</span></p><p style="text-indent:5.733%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">The Company has incurred significant operating losses and negative cash flows from operations since inception. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future. In addition, the Company anticipates that its expenses will increase significantly in connection with ongoing activities to support its engEx Platform development, drug discovery and preclinical and clinical development, in addition to creating a portfolio of intellectual property and providing administrative support.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> </span></p><p style="text-indent:5.667%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">The Company does not expect to generate significant revenue from sales of its engEx product candidates unless and until clinical development has been successfully completed and regulatory approval is obtained. If the Company obtains regulatory approval for any of its investigational products, it expects to incur significant commercialization expenses.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:5.667%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">As a result, the Company will need substantial additional funding to support its continued operations and growth strategy. Until such a time as the Company can generate significant revenue from product sales, if ever, the Company expects to finance its operations through the sale of equity, debt financings or other capital sources, including collaborations with other companies or other strategic transactions. The Company may be unable to raise additional funds or enter into such other agreements on favorable terms, or at all. If the Company fails to raise capital or enter into such agreements as, and when, needed, the Company may have to significantly delay, scale back or discontinue the development and commercialization of one or more of its product candidates or delay its pursuit of potential in-licenses or acquisitions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> </span></p><p style="text-indent:5.667%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:Arial;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">The Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within </span><span style="font-size:10.0pt;font-family:Arial;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">one year</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> after the date that the consolidated financial statements are issued. </span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">The Company expects that its cash and cash equivalents as of December 31, 2021 of $</span><span style="font-size:10.0pt;font-family:Arial;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">76.9</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> million, will be insufficient to allow the Company to fund its current operating plan through at least the next twelve months from the issuance of these financial statements. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least one year from the date these financial statements are issued. Accordingly, the Company will be required to raise additional funds through a public equity financing, establish collaborations with, or license its technology to other companies, seek alternative means of financial support or both, in order to continue to fund its operations in the future. There can be no assurance, however, that additional fund raising will be successful and available on terms acceptable to the Company, or at all. If the Company is unable to raise capital when needed or on attractive terms, it may be forced to delay, reduce or eliminate certain costs related to its operations and research and development programs.</span></p><p style="text-indent:5.733%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">The Company is subject to those risks associated with any biopharmaceutical company that has substantial expenditures for research and development. There can be no assurance that the Company’s research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable. In addition, the Company operates in an environment of rapid technological change and is largely dependent on the services of its employees and consultants. If the Company fails to become profitable or is unable to sustain profitability on a continuing basis, then it may be unable to continue its operations at planned levels and be forced to reduce its operations.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;"> </span></p>
CY2021 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2015-06-12
CY2021 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
168200000
CY2021 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
24600000
CY2021 us-gaap Proceeds From Collaborators
ProceedsFromCollaborators
66000000.0
CY2020Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
5500000
CY2020Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
15.00
CY2020Q4 us-gaap Proceeds From Issuance Of Common Stock
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74400000
CY2021Q1 us-gaap Stock Issued During Period Shares New Issues
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CY2021Q1 cdak Additional Stock Issued During Period Shares New Issues
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412500
CY2021Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
21.00
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
61700000
CY2021 us-gaap Substantial Doubt About Going Concern Conditions Or Events
SubstantialDoubtAboutGoingConcernConditionsOrEvents
The Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year after the date that the consolidated financial statements are issued.
CY2021 us-gaap Substantial Doubt About Going Concern Within One Year
SubstantialDoubtAboutGoingConcernWithinOneYear
true
CY2021Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
76900000
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;font-style:italic;">Use of estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Arial;font-style:italic;"> </span></p><p style="text-indent:5.733%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Arial;">We have made estimates and judgments affecting the amounts reported in our consolidated financial statements and the accompanying notes. On an ongoing basis, we evaluate our estimates, including critical accounting policies or estimates related to revenue recognition, stock-based compensation, accrued expenses, leases, gain upon derecognition, contingent consideration and the long-lived lives of useful assets. We base our estimates on historical experience and various relevant assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The actual results that we experience may differ materially from our estimates. Significant estimates relied upon in preparing these financial statements include, among others, those related to the fair value of equity awards, revenue recognition, accrued expenses, leases, gain upon derecognition, contingent consideration, income taxes, and long-lived lives of useful assets.</span></p>
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
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0
CY2020 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
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0
CY2021Q4 us-gaap Deferred Offering Costs
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CY2020Q4 us-gaap Deferred Offering Costs
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200000
CY2021Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
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CY2020Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
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0
CY2020Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
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0
CY2021Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
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0
CY2020Q4 us-gaap Temporary Equity Shares Issued
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CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
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CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
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CY2020Q4 us-gaap Temporary Equity Shares Outstanding
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CY2021Q4 us-gaap Temporary Equity Shares Issued
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CY2021 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
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0
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
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CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
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0
CY2021Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0
CY2020Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
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0
CY2021Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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0
CY2020Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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0
CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
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CY2021Q4 cdak Lessee Net Operating Lease Liability Payments Due Next Twelve Months
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3431000
CY2021Q4 cdak Clinical Trial Costs Current
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1053000
CY2020Q4 cdak Clinical Trial Costs Current
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805000
CY2021Q4 us-gaap Prepaid Insurance
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2593000
CY2020Q4 us-gaap Prepaid Insurance
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31000
CY2021Q4 cdak Other Prepaid Expense And Other Assets Current
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983000
CY2020Q4 cdak Other Prepaid Expense And Other Assets Current
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1308000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2021Q4 us-gaap Property Plant And Equipment Gross
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35288000
CY2020Q4 us-gaap Property Plant And Equipment Gross
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41900000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11809000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10490000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23479000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
31410000
CY2021 cdak Depreciation And Amortization Expense Related To Property And Equipment
DepreciationAndAmortizationExpenseRelatedToPropertyAndEquipment
5500000
CY2020 cdak Depreciation And Amortization Expense Related To Property And Equipment
DepreciationAndAmortizationExpenseRelatedToPropertyAndEquipment
4400000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2021Q4 us-gaap Accrued Professional Fees Current
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CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5142000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5040000
CY2021Q4 cdak Accrued External Research And Development Cost Current
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2420000
CY2020Q4 cdak Accrued External Research And Development Cost Current
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1475000
CY2020Q4 us-gaap Accrued Professional Fees Current
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CY2021Q4 us-gaap Accrued Utilities Current
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190000
CY2020Q4 us-gaap Accrued Utilities Current
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846000
CY2021Q4 us-gaap Other Accrued Liabilities Current
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428000
CY2020Q4 us-gaap Other Accrued Liabilities Current
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607000
CY2021Q4 us-gaap Accrued Liabilities Current
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9703000
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2821000
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LesseeOperatingSubleasePaymentsToBeReceived
5719000
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4474000
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5689000
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6820000
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6820000
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7020000
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37545000
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P4Y
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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22935000
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21794546
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0
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IncomeTaxExpenseBenefit
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.074
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.059
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.027
CY2021 cdak Effective Income Tax Rate Reconciliation Executive Compensation Percent
EffectiveIncomeTaxRateReconciliationExecutiveCompensationPercent
-0.007
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
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-0.001
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
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EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.008
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.332
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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0.001
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
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0.001
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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51672000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2021Q4 us-gaap Deferred Tax Assets Gross
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CY2020Q4 cdak Deferred Tax Assets Lease Liabilities
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10519000
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CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
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CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
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CY2020Q4 us-gaap Deferred Tax Assets In Process Research And Development
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CY2021 us-gaap Operating Loss Carryforwards Limitations On Use
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Net operating loss carryforwards may become subject to an annual limitation in the event of certain cumulative changes in the ownership interest of significant shareholders over a three-year period in excess of 50%, as defined under Sections 382 and 383 of the Internal Revenue Code, respectively, as well as similar state provisions.
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