2023 Q2 Form 10-Q Financial Statement
#000157688523000025 Filed on May 09, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $4.345M | $4.422M | $3.221M |
YoY Change | 40.61% | 37.29% | 165.1% |
% of Gross Profit | |||
Research & Development | $9.133M | $8.713M | $5.985M |
YoY Change | 24.75% | 45.58% | 132.16% |
% of Gross Profit | |||
Depreciation & Amortization | $15.00K | $14.00K | $4.000K |
YoY Change | 150.0% | 250.0% | |
% of Gross Profit | |||
Operating Expenses | $13.48M | $13.14M | $9.206M |
YoY Change | 29.46% | 42.68% | 142.71% |
Operating Profit | -$13.48M | -$13.14M | -$9.206M |
YoY Change | 29.46% | 42.68% | |
Interest Expense | $1.884M | $1.832M | $76.00K |
YoY Change | 624.62% | 2310.53% | 1800.0% |
% of Operating Profit | |||
Other Income/Expense, Net | $1.868M | $1.828M | $1.000K |
YoY Change | 618.46% | 182700.0% | -100.0% |
Pretax Income | -$11.61M | -$11.31M | -$9.129M |
YoY Change | 14.37% | 23.86% | -66.19% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$11.61M | -$11.31M | -$9.129M |
YoY Change | 14.37% | 23.86% | -66.19% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.28 | -$0.28 | -$0.23 |
Diluted Earnings Per Share | -$0.28 | -$0.28 | -$225.6K |
COMMON SHARES | |||
Basic Shares Outstanding | 41.03M shares | 41.03M shares | 40.47M shares |
Diluted Shares Outstanding | 41.03M shares | 41.03M shares | 40.47M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $144.9M | $140.4M | $189.1M |
YoY Change | -23.71% | -25.74% | 356.66% |
Cash & Equivalents | $77.25M | $78.00M | $108.8M |
Short-Term Investments | $67.63M | $62.41M | $80.33M |
Other Short-Term Assets | $208.0K | $294.0K | $3.008M |
YoY Change | -81.79% | -90.23% | 412.44% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $149.5M | $144.0M | $192.1M |
YoY Change | -21.73% | -25.02% | 356.26% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $136.0K | $151.0K | $252.0K |
YoY Change | 20.35% | -40.08% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $27.31M | $43.42M | $27.66M |
YoY Change | 36.55% | 56.99% | |
Other Assets | $208.0K | $195.0K | $79.00K |
YoY Change | 96.23% | 146.84% | -70.74% |
Total Long-Term Assets | $27.87M | $43.83M | $27.99M |
YoY Change | 35.11% | 56.6% | 10266.3% |
TOTAL ASSETS | |||
Total Short-Term Assets | $149.5M | $144.0M | $192.1M |
Total Long-Term Assets | $27.87M | $43.83M | $27.99M |
Total Assets | $177.4M | $187.9M | $220.1M |
YoY Change | -16.19% | -14.64% | 419.4% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.026M | $762.0K | $1.219M |
YoY Change | 18.48% | -37.49% | 32.79% |
Accrued Expenses | $2.374M | $7.923M | $2.618M |
YoY Change | -28.56% | 202.64% | 69.56% |
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 | $8.531M | $8.779M | $3.936M |
YoY Change | 66.17% | 123.04% | -87.38% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $62.00K | ||
YoY Change | |||
Total Long-Term Liabilities | $0.00 | $0.00 | $62.00K |
YoY Change | -100.0% | -100.0% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $8.531M | $8.779M | $3.936M |
Total Long-Term Liabilities | $0.00 | $0.00 | $62.00K |
Total Liabilities | $8.531M | $8.779M | $3.998M |
YoY Change | 65.36% | 119.58% | -87.18% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$193.3M | -$181.7M | |
YoY Change | 31.59% | ||
Common Stock | $4.000K | $4.000K | |
YoY Change | 0.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $168.9M | $179.1M | $216.1M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $177.4M | $187.9M | $220.1M |
YoY Change | -16.19% | -14.64% | 419.4% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$11.61M | -$11.31M | -$9.129M |
YoY Change | 14.37% | 23.86% | -66.19% |
Depreciation, Depletion And Amortization | $15.00K | $14.00K | $4.000K |
YoY Change | 150.0% | 250.0% | |
Cash From Operating Activities | -$11.67M | -$10.18M | -$8.299M |
YoY Change | 80.43% | 22.61% | 250.17% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $0.00 | $0.00 | -$9.000K |
YoY Change | -100.0% | -100.0% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $11.06M | -$41.93M | -$5.090M |
YoY Change | 25.43% | 723.71% | |
Cash From Investing Activities | $11.06M | -$41.93M | -$5.099M |
YoY Change | 25.94% | 722.26% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -145.0K | $0.00 | |
YoY Change | 935.71% | ||
NET CHANGE | |||
Cash From Operating Activities | -11.67M | -$10.18M | -8.299M |
Cash From Investing Activities | 11.06M | -$41.93M | -5.099M |
Cash From Financing Activities | -145.0K | $0.00 | |
Net Change In Cash | -751.0K | -$52.10M | -13.40M |
YoY Change | -132.61% | 288.88% | 465.32% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$11.67M | -$10.18M | -$8.299M |
Capital Expenditures | $0.00 | $0.00 | -$9.000K |
Free Cash Flow | -$11.67M | -$10.18M | -$8.290M |
YoY Change | 81.44% | 22.74% |
Facts In Submission
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ShareBasedCompensation
|
618000 | usd |
CY2023Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
334000 | usd |
CY2022Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
-216000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
38000 | usd |
CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
33000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
899000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1416000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
44000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
65000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-878000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
121000 | usd |
CY2023Q1 | abos |
Increase Decrease In Accrued Clinical Trial Expenses
IncreaseDecreaseInAccruedClinicalTrialExpenses
|
2486000 | usd |
CY2022Q1 | abos |
Increase Decrease In Accrued Clinical Trial Expenses
IncreaseDecreaseInAccruedClinicalTrialExpenses
|
281000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-38000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-32000 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-603000 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-1762000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10175000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-8299000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
52131000 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
9090000 | usd |
CY2023Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
10204000 | usd |
CY2022Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
4000000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
0 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
9000 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-41927000 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-5099000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-52102000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-13398000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
130101000 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
122162000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
77999000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
108764000 | usd |
CY2023Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
0 | usd |
CY2022Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
10000 | usd |
CY2023Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS <div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acumen Pharmaceuticals, Inc. (“Acumen” or the “Company”) was incorporated in 1996 in the state of Delaware. Acumen is a clinical-stage biopharmaceutical company developing a novel disease-modifying approach to target what the Company believes to be a key underlying cause of Alzheimer’s disease (“AD”). Alzheimer’s disease is a progressive neurodegenerative disease of the brain that leads to loss of memory and cognitive functions and ultimately results in death. The Company’s scientific founders pioneered research on soluble amyloid-beta oligomers (“AßOs”), which are globular assemblies of the amyloid-beta (“Aß”) peptide that are distinct from Aß monomers and amyloid plaques. Based on decades of research and supporting evidence, AßOs have gained increasing scientific acceptance as primary toxins involved in the initiation and propagation of AD pathology. The Company is currently focused on advancing a targeted immunotherapy drug candidate, ACU193, through a clinical proof of mechanism trial in “early AD” patients (patients with mild cognitive impairment or mild dementia due to Alzheimer’s pathology). ACU193 is a recombinant humanized immunoglobulin gamma 2 (“IgG2”) monoclonal antibody (“mAb”) that was designed to selectively target AßOs, has demonstrated functional and protective effects in in vitro assays, and has demonstrated in vivo safety and pharmacologic activity in multiple animal species, including transgenic mouse models for AD. </span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to the uncertainty of whether the Company’s intellectual property will develop into successful commercial products. </span></div><div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity and Capital Resources </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has incurred operating losses since inception and expects to continue to incur significant operating losses for the foreseeable future and may never become profitable. As of March 31, 2023 and December 31, 2022, the Company had an accumulated deficit of $181.7 million and $170.4 million, respectively, and working capital of $135.3 million and $172.5 million, respectively. Management believes that the Company has sufficient cash to continue operating activities for beyond 12 months from issuance of these condensed financial statements. </span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Future capital requirements will depend upon many factors, including the timing and extent of spending on research and development and market acceptance of the Company’s products. The Company expects that it will need to obtain additional financing to complete clinical trials and launch and commercialize any product candidates for which it receives regulatory approval. Until such time, if ever, the Company can generate revenue sufficient to achieve profitability, the Company expects to finance its operations through a combination of equity offerings, debt financings, collaborations, strategic alliances and licensing arrangements. There can be no assurance that such financing will be available on terms acceptable to the Company, or at all. To the extent that the Company raises additional capital through the sale of equity or convertible debt securities, the ownership interest of its stockholders will be diluted, and the terms of these securities may include liquidation of other preferences that adversely affect the rights of common stockholders. Debt financing and preferred equity financing, if available, may involve agreements that include covenants limiting or restricting the Company’s ability to take specific actions, such as incurring additional debt, making acquisitions or capital expenditures or declaring dividends. If the Company is unable to maintain sufficient financial resources, its business, financial condition and results of operations will be materially and adversely affected. The Company may be required to delay, limit, reduce or terminate its product discovery and development activities or future commercialization efforts. </span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company initiated a Phase 1 clinical trial of ACU193 in the second quarter of 2021, which the Company named “INTERCEPT-AD.” This trial enrolled 65 patients with “early AD.” INTERCEPT-AD is a U.S.-based, multi-center, randomized, double-blind, placebo-controlled clinical trial with overlapping single ascending dose and multiple ascending dose cohorts evaluating patients with early AD.</span></div> | |
CY2023Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-181700000 | usd |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-170400000 | usd |
CY2023Q1 | abos |
Working Capital
WorkingCapital
|
135300000 | usd |
CY2022Q4 | abos |
Working Capital
WorkingCapital
|
172500000 | usd |
CY2023Q1 | abos |
Number Of Patients Enrolled In Trial
NumberOfPatientsEnrolledInTrial
|
65 | patient |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of 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 condensed financial statements, as well as the reported amounts of expenses during the reporting periods. These estimates and assumptions are based on the Company’s historical experience, and on various other factors that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. </span></div>Actual results may differ from these estimates under different assumptions or conditions. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. | |
CY2023Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
Reclassifications Certain prior year amounts have been reclassified for consistency with the current period presentation. Accrued clinical trial expenses are presented as a separate line on the statements of cash flows, whereas these accrued expenses were previously included in accrued expenses and other current liabilities. This reclassification had no effect on the reported results of operations. | |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
|
62872000 | usd |
CY2023Q1 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxCurrent
|
6000 | usd |
CY2023Q1 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxCurrent
|
468000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
62410000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Amortized Cost Noncurrent
DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent
|
43481000 | usd |
CY2023Q1 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxNoncurrent
|
41000 | usd |
CY2023Q1 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxNoncurrent
|
103000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
43419000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
106353000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
47000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
571000 | usd |
CY2023Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
105829000 | usd |
CY2022Q4 | us-gaap |
Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
|
48212000 | usd |
CY2022Q4 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxCurrent
|
0 | usd |
CY2022Q4 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxCurrent
|
708000 | usd |
CY2023Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
47504000 | usd |
CY2022Q4 | us-gaap |
Debt Securities Available For Sale Amortized Cost Noncurrent
DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent
|
15880000 | usd |
CY2022Q4 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxNoncurrent
|
0 | usd |
CY2022Q4 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxNoncurrent
|
43000 | usd |
CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
15837000 | usd |
CY2022Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
64092000 | usd |
CY2022Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
0 | usd |
CY2022Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
751000 | usd |
CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
63341000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
59394000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
168000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
23755000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
403000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
83149000 | usd |
CY2023Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
571000 | usd |
CY2023Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2022Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
32541000 | usd |
CY2022Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
65000 | usd |
CY2022Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
30800000 | usd |
CY2022Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
686000 | usd |
CY2022Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
63341000 | usd |
CY2022Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
751000 | usd |
CY2023Q1 | abos |
Debt Securities Available For Sale Noncurrent Term
DebtSecuritiesAvailableForSaleNoncurrentTerm
|
P2Y | |
CY2023Q1 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
180128000 | usd |
CY2022Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
192441000 | usd |
CY2023Q1 | abos |
Prepaid Raw Materials Current
PrepaidRawMaterialsCurrent
|
1391000 | usd |
CY2022Q4 | abos |
Prepaid Raw Materials Current
PrepaidRawMaterialsCurrent
|
199000 | usd |
CY2023Q1 | abos |
Research And Development Service Agreements Current
ResearchAndDevelopmentServiceAgreementsCurrent
|
1132000 | usd |
CY2022Q4 | abos |
Research And Development Service Agreements Current
ResearchAndDevelopmentServiceAgreementsCurrent
|
1077000 | usd |
CY2023Q1 | abos |
Prepaid Insurance Current
PrepaidInsuranceCurrent
|
556000 | usd |
CY2022Q4 | abos |
Prepaid Insurance Current
PrepaidInsuranceCurrent
|
1106000 | usd |
CY2023Q1 | abos |
Dues And Subscriptions Current
DuesAndSubscriptionsCurrent
|
250000 | usd |
CY2022Q4 | abos |
Dues And Subscriptions Current
DuesAndSubscriptionsCurrent
|
105000 | usd |
CY2023Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
294000 | usd |
CY2022Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
237000 | usd |
CY2023Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
3623000 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2724000 | usd |
CY2023Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1628000 | usd |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2008000 | usd |
CY2023Q1 | abos |
Research And Development Liability Current
ResearchAndDevelopmentLiabilityCurrent
|
829000 | usd |
CY2022Q4 | abos |
Research And Development Liability Current
ResearchAndDevelopmentLiabilityCurrent
|
1211000 | usd |
CY2023Q1 | abos |
Legal Liability Current
LegalLiabilityCurrent
|
190000 | usd |
CY2022Q4 | abos |
Legal Liability Current
LegalLiabilityCurrent
|
0 | usd |
CY2023Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
6000 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
0 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
94000 | usd |
CY2022Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
131000 | usd |
CY2023Q1 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
2747000 | usd |
CY2022Q4 | us-gaap |
Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
|
3350000 | usd |
CY2023Q1 | abos |
Common Stock And Preferred Stock Shares Authorized
CommonStockAndPreferredStockSharesAuthorized
|
310000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q1 | abos |
Common Stock Number Of Voting Rights
CommonStockNumberOfVotingRights
|
1 | votingright |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1390000 | usd |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
618000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
4.52 | |
CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
3.87 | |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5610893 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.36 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1628000 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
5.96 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
7238893 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
3.94 | |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y3M18D | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
9805000 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
2769265 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
2.56 | |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
|
P7Y2M12D | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
6446000 | usd |
CY2023Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7567393 | shares |
CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4922019 | shares |