$AADI
Aadi Bioscience, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156459021043488 Filed on August 11, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q4 2020 Q2
Revenue $0.00 $14.00M $15.00M
YoY Change -100.0%
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $830.0K $2.405M -$1.080M
YoY Change -176.85% 56.19% -138.57%
% of Gross Profit
Research & Development $3.045M $3.230M $3.549M
YoY Change -14.19% 51.64% 56.72%
% of Gross Profit
Depreciation & Amortization $11.67K $54.48K $30.17K
YoY Change -61.32% 81.6% 50.85%
% of Gross Profit
Operating Expenses $3.875M $5.637M $3.549M
YoY Change 9.2% 21.03% -40.65%
Operating Profit -$3.875M
YoY Change
Interest Expense $227.0K $2.360K -$430.0K
YoY Change -152.79% -98.61% -248.08%
% of Operating Profit
Other Income/Expense, Net $2.341M $916.6K
YoY Change 334.22%
Pretax Income -$1.534M -$4.718M -$4.690M
YoY Change -67.29% 6.02% -17.43%
Income Tax $2.000K
% Of Pretax Income
Net Earnings -$1.536M -$4.718M -$5.282M
YoY Change -70.92% 6.02% -7.07%
Net Earnings / Revenue -33.7% -35.21%
Basic Earnings Per Share -$0.60
Diluted Earnings Per Share -$0.60 -$1.500M -$1.94
COMMON SHARES
Basic Shares Outstanding 2.542M shares 40.59M
Diluted Shares Outstanding 2.542M shares 40.91M

Balance Sheet

Concept 2021 Q2 2020 Q4 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $36.82M $42.60M $44.86M
YoY Change -17.94% 10.66% -6.92%
Cash & Equivalents $36.80M $4.455M $44.86M
Short-Term Investments
Other Short-Term Assets $578.5K $1.604M $570.5K
YoY Change 1.4% 118.28% 115.84%
Inventory
Prepaid Expenses $510.2K
Receivables $14.15M
Other Receivables
Total Short-Term Assets $37.39M $18.69M $45.43M
YoY Change -17.7% -52.78% -6.88%
LONG-TERM ASSETS
Property, Plant & Equipment $9.450K $21.00K $260.9K
YoY Change -96.38% -87.21% -12.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.00K $20.00K $20.00K
YoY Change 0.0%
Total Long-Term Assets $29.45K $140.0K $280.9K
YoY Change -89.52% -61.78% -65.35%
TOTAL ASSETS
Total Short-Term Assets $37.39M $18.69M $45.43M
Total Long-Term Assets $29.45K $140.0K $280.9K
Total Assets $37.42M $18.83M $45.72M
YoY Change -18.14% -52.86% -7.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $746.9K $2.392M $622.7K
YoY Change 19.95% 443.9% 21.81%
Accrued Expenses $1.461M $4.099M $2.483M
YoY Change -41.14% 41.34% -19.92%
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 $2.208M $30.06M $3.105M
YoY Change -28.89% 801.56% -13.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $97.00K $9.960K
YoY Change -3.0% -96.68%
Total Long-Term Liabilities $0.00 $97.00K $9.960K
YoY Change -100.0% -3.0% -96.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.208M $30.06M $3.105M
Total Long-Term Liabilities $0.00 $97.00K $9.960K
Total Liabilities $2.208M $31.26M $3.115M
YoY Change -29.12% 818.93% -19.78%
SHAREHOLDERS EQUITY
Retained Earnings -$32.60M -$136.9M
YoY Change -77.08% 2.81%
Common Stock $20.16M $179.5M
YoY Change -88.72% 0.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$19.37M -$12.43M -$17.63M
YoY Change
Total Liabilities & Shareholders Equity $37.42M $18.83M $45.72M
YoY Change -18.14% -52.86% -7.83%

Cashflow Statement

Concept 2021 Q2 2020 Q4 2020 Q2
OPERATING ACTIVITIES
Net Income -$1.536M -$4.718M -$5.282M
YoY Change -70.92% 6.02% -7.07%
Depreciation, Depletion And Amortization $11.67K $54.48K $30.17K
YoY Change -61.32% 81.6% 50.85%
Cash From Operating Activities -$2.227M $4.041M $6.352M
YoY Change -135.06% -183.15% -223.58%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$19.03K -$12.20K
YoY Change -100.0% -110.17%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$19.03K -$12.20K
YoY Change -100.0% -89.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 34.49K 8.290M
YoY Change
NET CHANGE
Cash From Operating Activities -2.227M 4.041M 6.352M
Cash From Investing Activities 0.000 -19.03K -12.20K
Cash From Financing Activities 34.49K 8.290M
Net Change In Cash -2.192M 12.31M 6.340M
YoY Change -134.58% -353.34% -220.53%
FREE CASH FLOW
Cash From Operating Activities -$2.227M $4.041M $6.352M
Capital Expenditures $0.00 -$19.03K -$12.20K
Free Cash Flow -$2.227M $4.060M $6.364M
YoY Change -134.99% -183.54% -220.99%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
510177
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1603913
CY2020Q4 us-gaap Assets Current
AssetsCurrent
44719025
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
121730
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
63919
CY2020Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
20000
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1799371
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
67438
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1866809
dei Entity Address City Or Town
EntityAddressCityOrTown
Loveland
dei Entity Address State Or Province
EntityAddressStateOrProvince
OH
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
45140
dei City Area Code
CityAreaCode
513
dei Local Phone Number
LocalPhoneNumber
985-1920
dei Entity Address Address Line2
EntityAddressAddressLine2
Madeira Road #168
CY2020Q4 us-gaap Assets
Assets
44924674
CY2021Q2 us-gaap Assets
Assets
37424041
CY2021Q2 us-gaap Assets Current
AssetsCurrent
37394589
CY2021Q2 us-gaap Other Assets Current
OtherAssetsCurrent
578461
us-gaap Net Income Loss
NetIncomeLoss
5357369
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.19
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
39032161
CY2020Q2 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2021-01-31#LicenseMember
us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2021-01-31#LicenseMember
CY2020 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2021-01-31#LicenseMember
CY2019Q4 arpo Warrants Vesting Period
WarrantsVestingPeriod
P6M
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q2 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2021-01-31#LicenseMember
us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2021-01-31#LicenseMember
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y6M29D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P1Y6M
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P6Y2M23D
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y29D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M1D
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Security12b Title
Security12bTitle
Common stock, $0.0001 par value per share
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36816128
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42604935
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
9955
CY2021Q2 us-gaap Liabilities Current
LiabilitiesCurrent
2208095
CY2020Q4 us-gaap Liabilities
Liabilities
1866809
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
47251319
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47251319
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
4725
CY2020Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
189603985
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-146550845
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
43057865
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
44924674
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9452
CY2021Q2 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
20000
CY2021Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2198140
us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
http://fasb.org/us-gaap/2021-01-31#LicenseMember
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9276032
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8849674
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15000000
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3548572
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2947639
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5377614
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2195515
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6188314
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4481406
us-gaap Restructuring Costs
RestructuringCosts
1238270
us-gaap Operating Expenses
OperatingExpenses
10374223
us-gaap Operating Expenses
OperatingExpenses
9859020
us-gaap Operating Income Loss
OperatingIncomeLoss
-10374223
us-gaap Operating Income Loss
OperatingIncomeLoss
5140980
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
1518842
arpo Grant Income
GrantIncome
79900
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
5707
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
136489
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1524549
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
216389
us-gaap Net Income Loss
NetIncomeLoss
-8849674
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.13
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47327701
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40588004
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47327701
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40747960
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
43057865
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
70275
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
345756
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-4441739
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
10193
CY2021Q2 arpo Stock Issued During Period Value Warrant Exercised
StockIssuedDuringPeriodValueWarrantExercised
24300
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
4
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
557223
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-4407935
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
35215946
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
62347
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
327467
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-3918663
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
33006494
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
9592
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
308341
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
9276032
us-gaap Net Income Loss
NetIncomeLoss
-8849674
us-gaap Net Income Loss
NetIncomeLoss
5357369
us-gaap Depreciation
Depreciation
28453
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
-93285
arpo Consulting Expenses Related To Warrants
ConsultingExpensesRelatedToWarrants
71939
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
395753
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-238797
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12198
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
80468
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
24300
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
104768
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5788807
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6339748
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
42604935
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38524536
CY2021Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
7
CY2021Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.58
us-gaap Severance Costs1
SeveranceCosts1
1200000
CY2020Q2 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
15000000.0
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
36800000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed consolidated 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 condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results may differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these condensed consolidated financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. Estimates are used in the following areas, among others: stock-based compensation expense, revenue recognition and income taxes. </p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:6pt;"> </p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s results can also be affected by economic conditions, global health concerns, such as the COVID-19, and political, legislative, regulatory and legal actions. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, government fiscal policies, and changes in the prices of research studies, can have a significant effect on operations. While the Company maintains reserves for anticipated liabilities and carries various levels of insurance, the Company could be affected by civil, criminal, regulatory or administrative actions, claims or proceedings.</p>
us-gaap Intangible Assets Finite Lived Policy Costs Incurred To Renew Or Extend
IntangibleAssetsFiniteLivedPolicyCostsIncurredToRenewOrExtend
<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Patents </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Costs incurred in connection with the application for and issuances of patents are expensed as incurred. </p>
CY2021Q2 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
CY2020Q4 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentrations of Credit Risk and Off-Balance Sheet Risk </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cash and cash equivalents are the only financial instruments that potentially subject the Company to concentrations of credit risk. At June 30, 2021 and December 31, 2020, the Company maintains its cash and cash equivalents with high-quality, accredited financial institutions and, accordingly, such funds are subject to minimal credit risk. The Company has no significant off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangements. </p>
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15000000.0
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15000000.0
CY2021Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
677891
CY2021Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
746880
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
523037
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
504903
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
444534
CY2020Q4 arpo Accrued Project Costs Current
AccruedProjectCostsCurrent
328463
CY2021Q2 arpo Accrued Retention Bonus Current
AccruedRetentionBonusCurrent
225960
CY2021Q2 us-gaap Accrued Vacation Current
AccruedVacationCurrent
31701
CY2020Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
48107
CY2020Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
428683
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10805
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
26547
CY2021Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
2198140
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
1799371
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
550000
CY2019Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
600000
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.486
arpo Class Of Warrant Or Right Expiration Date
ClassOfWarrantOrRightExpirationDate
2024-10-24
CY2021Q2 arpo Number Of Class Of Warrants Exercised
NumberOfClassOfWarrantsExercised
50000
arpo Number Of Class Of Warrants Exercised
NumberOfClassOfWarrantsExercised
50000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.81
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
358209
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.48
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
92355
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.87
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
208208
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
2.02
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4629640
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.80
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2196969
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
873594
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.65
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
578185
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3756046
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.83
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
1618784
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
804852
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
42016
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1.69
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
83410
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4407935
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5357369
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47372581
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40588004
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47327701
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40588004
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47372581
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40905288
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47327701
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40747960
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
557223
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.90
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.43
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.23
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.19
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.13
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0085
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0038
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0077
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0053
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7457
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7482
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7447
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.6936
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2021Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2020Q2 us-gaap Proceeds From License Fees Received
ProceedsFromLicenseFeesReceived
15000000.0
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
15000000.0
arpo Maximum Amount Of Milestone Payments Eligible To Receive Under License Agreement
MaximumAmountOfMilestonePaymentsEligibleToReceiveUnderLicenseAgreement
40000000.0
arpo Maximum Amount Of Sales Milestone Payments Eligible To Receive Under License Agreement
MaximumAmountOfSalesMilestonePaymentsEligibleToReceiveUnderLicenseAgreement
50000000.0
arpo Percentage Of Payments Received By Licensee
PercentageOfPaymentsReceivedByLicensee
0.20

Files In Submission

Name View Source Status
0001564590-21-043488-index-headers.html Edgar Link pending
0001564590-21-043488-index.html Edgar Link pending
0001564590-21-043488.txt Edgar Link pending
0001564590-21-043488-xbrl.zip Edgar Link pending
arpo-10q_20210630.htm Edgar Link pending
arpo-10q_20210630_htm.xml Edgar Link completed
arpo-20210630.xsd Edgar Link pending
arpo-20210630_cal.xml Edgar Link unprocessable
arpo-20210630_def.xml Edgar Link unprocessable
arpo-20210630_lab.xml Edgar Link unprocessable
arpo-20210630_pre.xml Edgar Link unprocessable
arpo-ex311_9.htm Edgar Link pending
arpo-ex312_6.htm Edgar Link pending
arpo-ex321_7.htm Edgar Link pending
arpo-ex322_8.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
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
R39.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