Satsuma Pharmaceuticals, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023021208 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.37M $78.51M
YoY Change -47.31% -41.01%
Cash & Equivalents $19.53M $21.36M
Short-Term Investments $21.84M $57.15M
Other Short-Term Assets $2.005M $5.571M
YoY Change -64.01% 68.82%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $43.38M $84.08M
YoY Change -48.41% -38.36%
LONG-TERM ASSETS
Property, Plant & Equipment $82.00K $6.983M
YoY Change -98.83% -0.24%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.085M
YoY Change
Other Assets $22.00K $521.0K
YoY Change -95.78% -13.17%
Total Long-Term Assets $104.0K $9.589M
YoY Change -98.92% 24.53%
TOTAL ASSETS
Total Short-Term Assets $43.38M $84.08M
Total Long-Term Assets $104.0K $9.589M
Total Assets $43.48M $93.67M
YoY Change -53.58% -35.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $874.0K $1.799M
YoY Change -51.42% 63.55%
Accrued Expenses $4.841M $4.067M
YoY Change 19.03% 83.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $583.0K
YoY Change -70.85%
Total Short-Term Liabilities $5.831M $6.585M
YoY Change -11.45% 24.25%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $104.0K
YoY Change
Total Long-Term Liabilities $0.00 $104.0K
YoY Change -100.0% -82.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.831M $6.585M
Total Long-Term Liabilities $0.00 $104.0K
Total Liabilities $5.831M $6.689M
YoY Change -12.83% 13.37%
SHAREHOLDERS EQUITY
Retained Earnings -$222.1M -$157.3M
YoY Change 41.2% 55.74%
Common Stock $259.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $37.65M $86.98M
YoY Change
Total Liabilities & Shareholders Equity $43.48M $93.67M
YoY Change -53.58% -35.0%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001692830
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
001-39041
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
Satsuma Pharmaceuticals, Inc.
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
81-3039831
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
4819 Emperor Boulevard
CY2023Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 340
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Durham
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
NC
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
27703
CY2023Q1 dei City Area Code
CityAreaCode
650
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
410-3200
CY2023Q1 dei Security12b Title
Security12bTitle
Common stock, par value $0.0001
CY2023Q1 dei Trading Symbol
TradingSymbol
STSA
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
33152498
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19526000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16429000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
21844000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
36052000
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2005000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2328000
CY2023Q1 us-gaap Assets Current
AssetsCurrent
43375000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
54809000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
82000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
108000
CY2023Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
22000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
22000
CY2023Q1 us-gaap Assets
Assets
43479000
CY2022Q4 us-gaap Assets
Assets
54939000
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
874000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1911000
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4841000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6066000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
116000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
138000
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
5831000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
8115000
CY2023Q1 us-gaap Liabilities
Liabilities
5831000
CY2022Q4 us-gaap Liabilities
Liabilities
8115000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
33152498
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33152498
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
33152498
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
33152498
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
3000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
3000
CY2023Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
259735000
CY2022Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
258642000
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-5000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-30000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-222085000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-211791000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
37648000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
46824000
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
43479000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
54939000
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7459000
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11556000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3309000
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3990000
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
10768000
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
15546000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-10768000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-15546000
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
474000
CY2022Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
40000
CY2022Q1 us-gaap Interest Expense
InterestExpense
11000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-10294000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-15517000
CY2023Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
25000
CY2022Q1 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-79000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-10269000
CY2022Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15596000
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33152498
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33152498
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31545564
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31545564
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
46824000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1093000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-10294000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
25000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
37648000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
101340000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1239000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-15517000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-79000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
86983000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-10294000
CY2022Q1 us-gaap Profit Loss
ProfitLoss
-15517000
CY2022Q1 us-gaap Depreciation
Depreciation
92000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
37000
CY2022Q1 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
37000
CY2022Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3000
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
249000
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-253000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1093000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1239000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-323000
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1178000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1037000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
339000
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1225000
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1900000
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-33000
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-41000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11385000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14317000
CY2023Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
1430000
CY2022Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
1989000
CY2023Q1 stsa Proceeds From Maturities Of Marketable Securities
ProceedsFromMaturitiesOfMarketableSecurities
15912000
CY2022Q1 stsa Proceeds From Maturities Of Marketable Securities
ProceedsFromMaturitiesOfMarketableSecurities
22354000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
14482000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
20341000
CY2022Q1 us-gaap Repayments Of Debt
RepaymentsOfDebt
500000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-500000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3097000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5524000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16429000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15835000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19526000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21359000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
11000
CY2022Q1 stsa Operating Lease Right Of Use Asset Recorded On Adoption Of Asc842
OperatingLeaseRightOfUseAssetRecordedOnAdoptionOfASC842
80000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
11000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
201000
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
39000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-222100000
CY2023Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
41400000
CY2022Q4 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
11700000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of unaudited interim condensed financial statements in conformity with U.S. 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 unaudited interim condensed financial statements and the reported amounts of income and expenses during the reporting period. Such estimates include the accrual of research and development expenses, impairment of property and equipment and the fair value of stock-based awards. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the impact of the COVID-19 pandemic and related impacts on the global economy which may delay the enrollment of subjects for our clinical trials and may disrupt our supply chain for development and manufacturing activities, and adjust those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates and assumptions.</span></p>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company has no significant off-balance sheet concentrations of credit risk. Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents and marketable securities. Substantially all the Company’s cash, cash equivalents and marketable securities are held by Silicon Valley Bank, and the Company historically has relied primarily on Silicon Valley Bank for commercial banking services. On March 10, 2023, the California Department of Financial Protection and Innovation closed Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation ("FDIC") as receiver. On March 12, 2023, the U.S. Department of the Treasury, the Federal Reserve and the FDIC released a joint statement confirming that all depositors of Silicon Valley Bank would have access to all of their money after only one business day of closure, including funds held in uninsured deposit accounts. The Company received full access to the funds in its deposit and money market accounts on March 13, 2023. In light of actions by the federal government to fully protect deposit accounts, the Company has not experienced any credit losses on its deposits of cash or cash equivalents. The Company invests its cash equivalents in marketable securities and money market funds.</span></p>
CY2022Q4 stsa Accrued Impairment Loss
AccruedImpairmentLoss
2765000
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
392000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
66000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
53000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
69000
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4841000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6066000
CY2023Q1 us-gaap Lease Cost
LeaseCost
78000
CY2022Q1 us-gaap Lease Cost
LeaseCost
72000
CY2022Q4 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
11700000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
0
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
0
CY2023Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023Q1 us-gaap Depreciation
Depreciation
0
CY2022Q1 us-gaap Depreciation
Depreciation
100000
CY2022Q4 us-gaap Property Plant And Equipment Fair Value Disclosure
PropertyPlantAndEquipmentFairValueDisclosure
0
CY2022Q4 stsa Non Cancelable Future Payments Related To Property And Equipment
NonCancelableFuturePaymentsRelatedToPropertyAndEquipment
2800000
CY2023Q1 stsa Accrued Salaries And Benefits
AccruedSalariesAndBenefits
460000
CY2022Q4 stsa Accrued Salaries And Benefits
AccruedSalariesAndBenefits
536000
CY2023Q1 stsa Accrued Severance Payments
AccruedSeverancePayments
1310000
CY2023Q1 stsa Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
1661000
CY2022Q4 stsa Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
2630000
CY2023Q1 stsa Accrued Impairment Loss
AccruedImpairmentLoss
965000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
665900
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5292403
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.84
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M24D
CY2023Q1 stsa Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantForfeituresInPeriod
86744
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
86744
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.21
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
752644
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5205659
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.88
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2554076
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.72
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y4M24D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5205659
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.88
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y7M6D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
3.42
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
5800000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1200000
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1200000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1093000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1239000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-10294000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-15517000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
33152498
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
33152498
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
31545564
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
31545564
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.49
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.49
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5205659
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3243649
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
40000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
39000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
38000
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
33000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
130000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
130000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
116000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
116000
CY2023Q1 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P0Y7M6D
CY2023Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.098
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
9
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.36
CY2023Q1 us-gaap Severance Costs1
SeveranceCosts1
1300000
CY2023Q1 stsa Workforce Reduction Payment In Accrued Benefits
WorkforceReductionPaymentInAccruedBenefits
200000

Files In Submission

Name View Source Status
0000950170-23-021208-index-headers.html Edgar Link pending
0000950170-23-021208-index.html Edgar Link pending
0000950170-23-021208.txt Edgar Link pending
0000950170-23-021208-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
img78965974_0.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
stsa-20230331.htm Edgar Link pending
stsa-20230331.xsd Edgar Link pending
stsa-ex10_2.htm Edgar Link pending
stsa-ex31_1.htm Edgar Link pending
stsa-ex31_2.htm Edgar Link pending
stsa-ex32_1.htm Edgar Link pending
stsa-ex32_2.htm Edgar Link pending
stsa-20230331_cal.xml Edgar Link unprocessable
stsa-20230331_lab.xml Edgar Link unprocessable
stsa-20230331_pre.xml Edgar Link unprocessable
stsa-20230331_def.xml Edgar Link unprocessable
stsa-20230331_htm.xml Edgar Link completed