2023 Q2 Form 10-Q Financial Statement
#000149315223016278 Filed on May 11, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $3.500M | $346.0K | |
YoY Change | 250.0% | ||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $5.021M | $3.997M | $4.224M |
YoY Change | 45.12% | -5.37% | -35.71% |
% of Gross Profit | |||
Research & Development | $8.523M | $8.041M | $10.55M |
YoY Change | 28.01% | -23.75% | 46.26% |
% of Gross Profit | |||
Depreciation & Amortization | $615.0K | $661.0K | $811.0K |
YoY Change | -20.44% | -18.5% | -1.1% |
% of Gross Profit | |||
Operating Expenses | $15.12M | $12.04M | $14.77M |
YoY Change | 67.84% | -18.49% | 1.16% |
Operating Profit | -$10.55M | -$12.04M | -$20.59M |
YoY Change | 31.79% | -41.54% | |
Interest Expense | $314.0K | $101.0K | -$200.0K |
YoY Change | -0.95% | -150.5% | -85.82% |
% of Operating Profit | |||
Other Income/Expense, Net | -$6.414M | $2.668M | -$1.260M |
YoY Change | 5335.59% | -311.75% | |
Pretax Income | -$16.65M | -$9.107M | -$20.79M |
YoY Change | 100.77% | -56.2% | 29.94% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$16.65M | -$9.107M | -$20.79M |
YoY Change | 100.77% | -56.2% | 29.94% |
Net Earnings / Revenue | -475.83% | -6008.96% | |
Basic Earnings Per Share | $0.92 | -$0.54 | -$3.80 |
Diluted Earnings Per Share | -$0.92 | -$0.54 | -$3.588M |
COMMON SHARES | |||
Basic Shares Outstanding | 18.78M shares | 17.71M shares | 5.795M shares |
Diluted Shares Outstanding | 18.02M shares | 16.90M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $36.77M | $40.36M | $31.32M |
YoY Change | 82.98% | 28.9% | -63.92% |
Cash & Equivalents | $6.225M | $4.680M | $20.33M |
Short-Term Investments | $30.55M | $35.68M | $10.99M |
Other Short-Term Assets | $1.539M | $1.961M | $7.889M |
YoY Change | -79.01% | -75.14% | 338.28% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $3.500M | ||
Other Receivables | $2.227M | $519.0K | $0.00 |
Total Short-Term Assets | $44.04M | $42.84M | $39.20M |
YoY Change | 45.36% | 9.28% | -55.75% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $9.404M | $5.298M | $15.95M |
YoY Change | 26.06% | -66.78% | -9.9% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $108.0K | $99.00K | $20.00K |
YoY Change | 440.0% | 395.0% | -98.33% |
Total Long-Term Assets | $9.512M | $10.50M | $15.97M |
YoY Change | -34.05% | -34.24% | -69.76% |
TOTAL ASSETS | |||
Total Short-Term Assets | $44.04M | $42.84M | $39.20M |
Total Long-Term Assets | $9.512M | $10.50M | $15.97M |
Total Assets | $53.55M | $53.35M | $55.17M |
YoY Change | 19.75% | -3.31% | -60.98% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.477M | $2.857M | $1.601M |
YoY Change | 100.06% | 78.45% | -35.96% |
Accrued Expenses | $5.758M | $2.569M | $6.028M |
YoY Change | 8.01% | -57.38% | 31.04% |
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 | $9.440M | $7.420M | $12.34M |
YoY Change | -31.02% | -39.86% | -69.76% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Other Long-Term Liabilities | $34.77M | $27.19M | $11.39M |
YoY Change | 17282.5% | 138.63% | 127.84% |
Total Long-Term Liabilities | $34.77M | $27.19M | $11.39M |
YoY Change | 17282.5% | 138.63% | 83.74% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $9.440M | $7.420M | $12.34M |
Total Long-Term Liabilities | $34.77M | $27.19M | $11.39M |
Total Liabilities | $44.21M | $34.61M | $23.73M |
YoY Change | 79.45% | 45.83% | -49.51% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$721.1M | -$704.4M | |
YoY Change | 5.31% | ||
Common Stock | $215.0K | $179.0K | |
YoY Change | -85.34% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $9.345M | $18.74M | $31.44M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $53.55M | $53.35M | $55.17M |
YoY Change | 19.75% | -3.31% | -60.98% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$16.65M | -$9.107M | -$20.79M |
YoY Change | 100.77% | -56.2% | 29.94% |
Depreciation, Depletion And Amortization | $615.0K | $661.0K | $811.0K |
YoY Change | -20.44% | -18.5% | -1.1% |
Cash From Operating Activities | -$10.28M | -$11.70M | -$13.69M |
YoY Change | 14.1% | -14.52% | 0.71% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $32.00K | $218.0K | -$103.0K |
YoY Change | -311.65% | -76.59% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $5.243M | $2.429M | $1.178M |
YoY Change | -475.04% | 106.2% | -88.0% |
Cash From Investing Activities | $5.211M | $2.211M | $1.075M |
YoY Change | -472.75% | 105.67% | -88.54% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $0.00 | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 6.618M | -$4.000K | |
YoY Change | -274.99% | ||
NET CHANGE | |||
Cash From Operating Activities | -10.28M | -$11.70M | -13.69M |
Cash From Investing Activities | 5.211M | $2.211M | 1.075M |
Cash From Financing Activities | 6.618M | -$4.000K | |
Net Change In Cash | 1.545M | -$9.537M | $0.00 |
YoY Change | -110.89% | -100.0% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$10.28M | -$11.70M | -$13.69M |
Capital Expenditures | $32.00K | $218.0K | -$103.0K |
Free Cash Flow | -$10.32M | -$11.92M | -$13.58M |
YoY Change | 14.46% | -12.26% | 3.3% |
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|
-6000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9107000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22044000 | usd |
CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.54 | |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-3.80 | |
CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
16904024 | shares |
CY2022Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
5795107 | shares |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
64000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
-3000 | usd |
CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9043000 | usd |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-22047000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
26761000 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
770000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
-4000 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
256000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9107000 | usd |
CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
64000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
18740000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
42368000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
862000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22044000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-3000 | usd |
CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-3000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
21183000 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9107000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22044000 | usd |
CY2023Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
661000 | usd |
CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
811000 | usd |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
770000 | usd |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
862000 | usd |
CY2023Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-2265000 | usd |
CY2022Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
1253000 | usd |
CY2022Q1 | us-gaap |
Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
|
1355000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
|
1561000 | usd |
CY2022Q1 | us-gaap |
Other Asset Impairment Charges
OtherAssetImpairmentCharges
|
3252000 | usd |
CY2023Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
117000 | usd |
CY2023Q1 | abeo |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
2586000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
227000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
302000 | usd |
CY2023Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
100000 | usd |
CY2022Q1 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
200000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-3000000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
75000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1199000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-379000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
56000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-148000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-684000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-4386000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
1000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-296000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-11744000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-13687000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
218000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
103000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
7964000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
7487000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
|
10393000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
|
8665000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
2211000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
1075000 | usd |
CY2023Q1 | abeo |
Payments Made For Net Settlement Of Restricted Share Awards
PaymentsMadeForNetSettlementOfRestrictedShareAwards
|
4000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-4000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-9537000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-12612000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
14555000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
38829000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
5018000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
26217000 | usd |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
4680000 | usd |
CY2022Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
20326000 | usd |
CY2023Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
338000 | usd |
CY2022Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
5891000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5018000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
26217000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
8950000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
1631000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
7319000 | usd |
CY2023Q1 | us-gaap |
Basis Of Accounting
BasisOfAccounting
|
<p id="xdx_84A_eus-gaap--BasisOfAccounting_zTanklxFKX66" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_864_zQV9dO0ASaC5">Basis of Presentation</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s unaudited interim condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, except as otherwise disclosed, necessary for the fair presentation of the financial position, results of operations, and changes in financial position for such periods, have been made. These unaudited interim condensed consolidated financial statement results are not necessarily indicative of results to be expected for the full fiscal year or any future period. Certain information that is normally required by U.S. GAAP has been condensed or omitted in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The December 31, 2022 condensed consolidated balance sheet was derived from the audited statements, but does not include all disclosures required by U.S. GAAP.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Therefore, these unaudited interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K/A for the year ended December 31, 2022, which was filed with the SEC on April 10, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2022Q2 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
exchange ratio of 25-to-1 (the “Reverse Stock Split”). | |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2023Q1 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
40700000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-11700000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P73M | |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_849_eus-gaap--UseOfEstimates_z1OpwE9CJfil" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_865_zwa9pbwXd2B">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of unaudited interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and disclosure of contingent assets and liabilities at the date of the unaudited interim condensed consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from these estimates and assumptions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2022Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
1253000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22044000 | usd |
CY2022Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-3.80 | |
CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-22047000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22044000 | usd |
CY2022Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
1253000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-13687000 | usd |
CY2021Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
696563000 | usd |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
42368000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-22044000 | usd |
CY2022Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
697426000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
21183000 | usd |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
10562522 | shares |
CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
2150017 | shares |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.072 | pure |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
35720000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
36000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
35684000 | usd |
CY2022Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
38032000 | usd |
CY2022 | us-gaap |
Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
100000 | usd |
CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
37932000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
0 | usd |
CY2022Q1 | us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
0 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
17838000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
17620000 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
12540000 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
11879000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
5298000 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
5741000 | usd |
CY2023Q1 | us-gaap |
Depreciation
Depreciation
|
700000 | usd |
CY2022Q1 | us-gaap |
Depreciation
Depreciation
|
800000 | usd |
CY2022Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
3300000 | usd |
CY2022Q1 | us-gaap |
Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
|
1400000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
0 | usd |
CY2022Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
0 | usd |
CY2022Q4 | us-gaap |
Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
|
P4Y8M19D | |
CY2022Q4 | abeo |
Warrant Liabilities
WarrantLiabilities
|
19657000 | usd |
CY2023Q1 | us-gaap |
Derivative Gain On Derivative
DerivativeGainOnDerivative
|
2265000 | usd |
CY2023Q1 | abeo |
Warrant Liabilities
WarrantLiabilities
|
17392000 | usd |
CY2023Q1 | us-gaap |
Loss Contingency Disclosures
LossContingencyDisclosures
|
<p id="xdx_80F_eus-gaap--LossContingencyDisclosures_zoOZIolmYCP4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 6 – <span id="xdx_827_zSKQipIhuAn">SETTLEMENT LIABILITY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On November 12, 2021, the Company entered into a settlement agreement (“Settlement Agreement”) with the Company’s prior licensor REGENXBIO Inc. (“REGENXBIO”) to resolve all existing disputes between the parties. In accordance with the Settlement Agreement, the Company agreed to pay REGENXBIO a total of $<span id="xdx_909_eus-gaap--SettlementLiabilitiesCurrent_iI_pn5n6_c20211112__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember_zalUZ8VZdmkg" title="Settlement liabilities, current">30.0</span> million, payable as follows: <span id="xdx_909_eus-gaap--LossContingencySettlementAgreementTerms_c20211111__20211112__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember_z470flO1PxUb" title="Loss contingency settlement agreement terms">(1) $20.0 million paid in November 2021 after execution of the Settlement Agreement, (2) $5.0 million on the first anniversary of the effective date of the Settlement Agreement, and (3) $5.0 million upon the earlier of (i) the third anniversary of the effective date of the Settlement Agreement or (ii) the closing of a Strategic Transaction, as defined in the Settlement Agreement</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2023, the Company recorded the payable due to REGENXBIO in the condensed consolidated balance sheets based on the present value of the remaining payments due to REGENXBIO under the Settlement Agreement using an interest rate of <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember_zl5YzHlXiGS3" title="Interest rate stated percentage"><span id="xdx_901_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember_zqoARM7JdkIj" title="Interest rate stated percentage">9.6%</span></span>. The long-term portion due in <span id="xdx_90C_eus-gaap--DebtInstrumentMaturityDateDescription_c20230101__20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember__us-gaap--AwardDateAxis__custom--DueInNovemberTwoThousandAndTwentyFourMember_zyGW18RlNmKg" title="Debt instrument maturity date"><span id="xdx_904_eus-gaap--DebtInstrumentMaturityDateDescription_c20220101__20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember__us-gaap--AwardDateAxis__custom--DueInNovemberTwoThousandAndTwentyFourMember_zhlnW7PL95C2" title="Debt instrument maturity date">November 2024</span></span> was $<span id="xdx_90F_eus-gaap--LongTermDebt_iI_pn5n6_c20230331__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember__us-gaap--AwardDateAxis__custom--DueInNovemberTwoThousandAndTwentyFourMember_zhzWNy8jMuC6" title="Long term debt">4.3</span> million and $<span id="xdx_904_eus-gaap--LongTermDebt_iI_pn5n6_c20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--REGENXBIOMember__us-gaap--AwardDateAxis__custom--DueInNovemberTwoThousandAndTwentyFourMember_z7UWzbPorjW9" title="Long term debt">4.2</span> million as of March 31, 2023 and December 31, 2022, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
828000 | usd |
CY2023Q1 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
838000 | usd |
CY2022Q4 | us-gaap |
Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
|
2593000 | usd |
CY2023Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
1731000 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
1398000 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
2569000 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
3991000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
|
1600000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
415000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
472000 | usd |
CY2023Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
39000 | usd |
CY2022Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
96000 | usd |
CY2023Q1 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
18000 | usd |
CY2022Q1 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
21000 | usd |
CY2023Q1 | us-gaap |
Lease Cost
LeaseCost
|
472000 | usd |
CY2022Q1 | us-gaap |
Lease Cost
LeaseCost
|
589000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
1338000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
1815000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
1572000 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
811000 | usd |
CY2023Q1 | abeo |
Future Cash Receipts From Operating Sublease Remainder Of Fiscal Year
FutureCashReceiptsFromOperatingSubleaseRemainderOfFiscalYear
|
313000 | usd |
CY2023Q1 | abeo |
Future Cash Receipts From Operating Sublease Next Twelve Months
FutureCashReceiptsFromOperatingSubleaseNextTwelveMonths
|
429000 | usd |
CY2023Q1 | abeo |
Future Cash Receipts From Operating Sublease Year Two
FutureCashReceiptsFromOperatingSubleaseYearTwo
|
343000 | usd |
CY2023Q1 | abeo |
Future Cash Receipts From Operating Sublease
FutureCashReceiptsFromOperatingSublease
|
1085000 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
|
the Company’s stock underwent a 25:1 Reverse Stock Split | |
CY2022Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | shares |
CY2021Q4 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
1788000 | shares |
CY2021Q4 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
9.75 | |
CY2021Q4 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
1788000 | shares |
CY2021Q4 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
9.75 | |
CY2021Q4 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
16000000.0 | usd |
CY2021Q4 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
1500000 | usd |
CY2021Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
7000000.0 | usd |
CY2022Q4 | abeo |
Fair Value Warrant Liabilities
FairValueWarrantLiabilities
|
9000000.0 | usd |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
1788000 | shares |
CY2023Q1 | us-gaap |
Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
|
2026-12-21 | |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
770000 | usd |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
862000 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |