2024 Q1 Form 10-K Financial Statement
#000157688524000047 Filed on March 26, 2024
Income Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $5.325M | $5.193M | $18.82M |
YoY Change | 20.42% | 48.29% | 46.16% |
% of Gross Profit | |||
Research & Development | $12.45M | $13.29M | $42.32M |
YoY Change | 42.88% | 23.7% | 30.77% |
% of Gross Profit | |||
Depreciation & Amortization | $16.00K | $21.00K | $61.00K |
YoY Change | 14.29% | 75.0% | 90.63% |
% of Gross Profit | |||
Operating Expenses | $17.77M | $18.49M | $61.14M |
YoY Change | 35.32% | 29.74% | 35.15% |
Operating Profit | -$17.77M | -$61.14M | |
YoY Change | 35.32% | 35.15% | |
Interest Expense | $1.000M | $2.010M | $8.850M |
YoY Change | -45.41% | 44.4% | 269.98% |
% of Operating Profit | |||
Other Income/Expense, Net | $2.901M | -$21.00K | -$83.00K |
YoY Change | 58.7% | 110.0% | -103.49% |
Pretax Income | -$14.87M | -$16.50M | -$52.37M |
YoY Change | 31.54% | 28.22% | 22.2% |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$14.87M | -$16.50M | -$52.37M |
YoY Change | 31.54% | 28.22% | 22.2% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.25 | -$1.08 | |
Diluted Earnings Per Share | -$0.25 | -$0.28 | -$1.08 |
COMMON SHARES | |||
Basic Shares Outstanding | 60.08M shares | 57.91M shares | 48.61M shares |
Diluted Shares Outstanding | 59.81M shares | 48.61M shares |
Balance Sheet
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $252.5M | $243.5M | $243.5M |
YoY Change | 79.84% | 37.11% | 37.11% |
Cash & Equivalents | $46.93M | $66.89M | $66.89M |
Short-Term Investments | $205.6M | $176.6M | $176.6M |
Other Short-Term Assets | $395.0K | $3.093M | $3.093M |
YoY Change | 34.35% | 1205.06% | 13.55% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | $0.00 | ||
Total Short-Term Assets | $255.8M | $246.6M | $246.6M |
YoY Change | 77.62% | 36.76% | 36.76% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $117.0K | $503.0K | $503.0K |
YoY Change | -22.52% | 204.85% | 86.3% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $44.11M | $62.55M | $62.55M |
YoY Change | 1.59% | 294.98% | 294.98% |
Other Assets | $324.0K | $454.0K | $454.0K |
YoY Change | 66.15% | 200.66% | 200.66% |
Total Long-Term Assets | $45.14M | $63.51M | $63.51M |
YoY Change | 2.97% | 290.64% | 290.64% |
TOTAL ASSETS | |||
Total Short-Term Assets | $255.8M | $246.6M | $246.6M |
Total Long-Term Assets | $45.14M | $63.51M | $63.51M |
Total Assets | $301.0M | $310.1M | $310.1M |
YoY Change | 60.2% | 57.75% | 57.75% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $3.079M | $1.379M | $1.379M |
YoY Change | 304.07% | -15.91% | -15.91% |
Accrued Expenses | $2.905M | $10.62M | $10.62M |
YoY Change | -63.33% | 75.86% | 75.86% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | $756.0K | $756.0K |
YoY Change | |||
Total Short-Term Liabilities | $8.472M | $12.97M | $12.97M |
YoY Change | -3.5% | 66.04% | 66.04% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $30.21M | $29.90M | $29.90M |
YoY Change | |||
Other Long-Term Liabilities | $252.0K | $284.0K | $284.0K |
YoY Change | |||
Total Long-Term Liabilities | $30.46M | $30.18M | $30.18M |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $8.472M | $12.97M | $12.97M |
Total Long-Term Liabilities | $30.46M | $30.18M | $30.18M |
Total Liabilities | $38.93M | $43.15M | $43.15M |
YoY Change | 343.48% | 452.38% | 452.38% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$237.7M | -$222.8M | |
YoY Change | 30.82% | 30.75% | |
Common Stock | $6.000K | $6.000K | |
YoY Change | 50.0% | 50.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $262.0M | $267.0M | $267.0M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $301.0M | $310.1M | $310.1M |
YoY Change | 60.2% | 57.75% | 57.75% |
Cashflow Statement
Concept | 2024 Q1 | 2023 Q4 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$14.87M | -$16.50M | -$52.37M |
YoY Change | 31.54% | 28.22% | 22.2% |
Depreciation, Depletion And Amortization | $16.00K | $21.00K | $61.00K |
YoY Change | 14.29% | 75.0% | 90.63% |
Cash From Operating Activities | -$17.86M | -$8.314M | -$43.06M |
YoY Change | 75.52% | -25.79% | 22.5% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $11.00K | $11.00K | $21.00K |
YoY Change | -68.57% | -86.96% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$9.192M | -$48.79M | -$171.7M |
YoY Change | -78.08% | 139.34% | -536.26% |
Cash From Investing Activities | -$9.203M | -$48.81M | -$171.7M |
YoY Change | -78.05% | 139.04% | -538.1% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $122.2M | ||
YoY Change | 3123.34% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $7.107M | 29.13M | 151.8M |
YoY Change | 596.3% | 3784.13% | |
NET CHANGE | |||
Cash From Operating Activities | -$17.86M | -8.314M | -43.06M |
Cash From Investing Activities | -$9.203M | -48.81M | -171.7M |
Cash From Financing Activities | $7.107M | 29.13M | 151.8M |
Net Change In Cash | -$19.96M | -27.99M | -62.98M |
YoY Change | -61.7% | 2.02% | -893.32% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$17.86M | -$8.314M | -$43.06M |
Capital Expenditures | $11.00K | $11.00K | $21.00K |
Free Cash Flow | -$17.87M | -$8.325M | -$43.09M |
YoY Change | 75.63% | -25.92% | 22.01% |
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CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-42856000 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
188775000 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
121904000 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
325000 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
|
1132000 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
1063000 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
6145000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-52371000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-52371000 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-42856000 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
61000 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
32000 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6145000 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3061000 | usd |
CY2023 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
3121000 | usd |
CY2022 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
-487000 | usd |
CY2023 | us-gaap |
Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
|
-1360000 | usd |
CY2022 | us-gaap |
Embedded Derivative Gain Loss On Embedded Derivative Net
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet
|
0 | usd |
CY2023 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
123000 | usd |
CY2022 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
137000 | usd |
CY2023 | abos |
Other Noncash Expense Research And Development
OtherNoncashExpenseResearchAndDevelopment
|
739000 | usd |
CY2022 | abos |
Other Noncash Expense Research And Development
OtherNoncashExpenseResearchAndDevelopment
|
0 | usd |
CY2023 | us-gaap |
Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
|
11000 | usd |
CY2022 | us-gaap |
Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
|
0 | usd |
CY2023 | abos |
Other Noncash Expense Interest
OtherNoncashExpenseInterest
|
145000 | usd |
CY2022 | abos |
Other Noncash Expense Interest
OtherNoncashExpenseInterest
|
0 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
369000 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1700000 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
70000 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
137000 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-261000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
552000 | usd |
CY2023 | abos |
Increase Decrease In Accrued Clinical Trial Expenses
IncreaseDecreaseInAccruedClinicalTrialExpenses
|
1670000 | usd |
CY2022 | abos |
Increase Decrease In Accrued Clinical Trial Expenses
IncreaseDecreaseInAccruedClinicalTrialExpenses
|
2570000 | usd |
CY2023 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
2989000 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-562000 | usd |
CY2023 | abos |
Increase Decrease In Finance Lease Liability
IncreaseDecreaseInFinanceLeaseLiability
|
17000 | usd |
CY2022 | abos |
Increase Decrease In Finance Lease Liability
IncreaseDecreaseInFinanceLeaseLiability
|
0 | usd |
CY2023 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-110000 | usd |
CY2022 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-137000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-43064000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-35153000 | usd |
CY2023 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
250634000 | usd |
CY2022 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
41514000 | usd |
CY2023 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
78981000 | usd |
CY2022 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
80860000 | usd |
CY2023 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
3000 | usd |
CY2022 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | usd |
CY2023 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
21000 | usd |
CY2022 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
161000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-171671000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
39185000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
121904000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
3792000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
30000000 | usd |
CY2022 | us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
0 | usd |
CY2023 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
476000 | usd |
CY2022 | us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
0 | usd |
CY2023 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
325000 | usd |
CY2022 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
115000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
151753000 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3907000 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-62982000 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
7939000 | 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 |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
67119000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
130101000 | usd |
CY2023 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2022 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
0 | usd |
CY2023 | us-gaap |
Interest Paid Net
InterestPaidNet
|
169000 | usd |
CY2022 | us-gaap |
Interest Paid Net
InterestPaidNet
|
0 | usd |
CY2023 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
739000 | usd |
CY2022 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
0 | usd |
CY2023 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
399000 | usd |
CY2022 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
242000 | usd |
CY2023 | abos |
Noncash Issuance Of Warrant With Term Loan
NoncashIssuanceOfWarrantWithTermLoan
|
1132000 | usd |
CY2022 | abos |
Noncash Issuance Of Warrant With Term Loan
NoncashIssuanceOfWarrantWithTermLoan
|
0 | usd |
CY2023 | 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 a primary toxin involved in the initiation and propagation of AD pathology. The Company is currently focused on advancing a targeted immunotherapy drug candidate, sabirnetug, in clinical development following Phase 1 results in “early AD” patients (patients with mild cognitive impairment or mild dementia due to Alzheimer’s pathology) that were reported in July 2023. Sabirnetug is a recombinant humanized immunoglobulin gamma 2 (“IgG2”) monoclonal antibody (“mAb”) that was designed to selectively target </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.99pt;font-weight:400;line-height:120%">AßOs</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, 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:12pt"><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 its 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%">Public Offering </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%">On July 21, 2023, the Company issued 16,774,193 shares of its common stock, $0.0001 par value per share (“Common Stock”), in a public offering (the “Offering”) at a price of $7.75 per share. The aggregate net proceeds from the Offering, after underwriting discounts and commissions and other offering expenses, were $121.9 million. See additional discussion in </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 8. Stockholders’ Equity.</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 December 31, 2023 and 2022, the Company had an accumulated deficit of $222.8 million and $170.4 million, respectively, and working capital of $233.6 million and $172.5 million, respectively. During 2023, the Company received cash from the Offering and borrowings with net proceeds of $29.5 million under a term loan facility (see </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Note 6. Debt</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). Management believes that the Company has sufficient cash to continue operating activities for beyond 12 months from issuance of these financial statements.</span></div><div style="margin-top:12pt"><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, if approved for commercial sale. 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, as 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 any 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:12pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.99pt;font-weight:400;line-height:120%">The Company completed a Phase 1 clinical trial of sabirnetug in the second quarter of 2023, which the Company named “INTERCEPT-AD.” This trial enrolled 65 patients with “early AD” and 62 participants received at least one dose of study drug. INTERCEPT-AD was 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><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In July 2023, the </span></div><div style="margin-top:12pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company announced topline results from INTERCEPT-AD, which demonstrated that sabirnetug met the primary and secondary objectives of this study in 62 participants with early AD</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:9.99pt;font-weight:400;line-height:120%">. The Company expects to initiate a Phase 2 clinical trial of sabirnetug called “ALTITUDE-AD” in the first half of 2024.</span></div> | |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-222800000 | usd |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-170400000 | usd |
CY2023Q4 | abos |
Working Capital
WorkingCapital
|
233600000 | usd |
CY2022Q4 | abos |
Working Capital
WorkingCapital
|
172500000 | usd |
CY2023 | us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
29500000 | usd |
CY2023Q2 | abos |
Number Of Patients Enrolled In Trial
NumberOfPatientsEnrolledInTrial
|
65 | patient |
CY2023Q2 | abos |
Number Of Participants Enrolled In Trial With One Dose Of Study Drug Received
NumberOfParticipantsEnrolledInTrialWithOneDoseOfStudyDrugReceived
|
62 | participant |
CY2023Q3 | abos |
Number Of Participants Enrolled In Trial With One Dose Of Study Drug Received With Primary And Secondary Objectives Met
NumberOfParticipantsEnrolledInTrialWithOneDoseOfStudyDrugReceivedWithPrimaryAndSecondaryObjectivesMet
|
62 | participant |
CY2023 | 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 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. The more significant estimates and assumptions by management include, among others: the valuation allowance of deferred tax assets resulting from net operating losses, the valuation of stock options, the valuation of the warrant to purchase Common Stock and the valuation of embedded derivatives within the Company’s debt, long-term. | |
CY2023Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
66200000 | usd |
CY2022Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
129100000 | usd |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
66886000 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
130101000 | usd |
CY2023Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
233000 | usd |
CY2022Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
0 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
67119000 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
130101000 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
|
0 | usd |
CY2022Q4 | us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
|
0 | usd |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<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%">Concentrations of Credit Risk</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%">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company maintains deposits in financial institutions in excess of government insured limits. Management believes that the Company is not exposed to significant credit risk as the Company’s cash and cash equivalents are held at financial institutions that management believes to be of high credit quality. The Company has not experienced any losses due to credit risk on such accounts during any of the periods presented.</span></div> | |
CY2023 | us-gaap |
Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
|
<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%">Embedded Derivatives</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 evaluates embedded derivatives within debt to determine whether the embedded derivatives should be bifurcated from the host instrument and accounted for as a derivative at fair value that will be remeasured at each reporting period for the term of the loan, with changes in fair value recorded in the statements of operations and comprehensive loss. Management initially assesses the probability of the occurrence of trigger events for bifurcated embedded derivatives in determining fair value. The probability is reassessed at each reporting period during the term of a loan.</span></div> | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | usd |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | usd |
CY2023 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
0 | usd |
CY2022 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
|
0 | usd |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
9571358 | shares |
CY2022 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5610893 | shares |
CY2023 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Amortized Cost Current
DebtSecuritiesAvailableForSaleAmortizedCostCurrent
|
176654000 | usd |
CY2023Q4 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxCurrent
|
179000 | usd |
CY2023Q4 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Current
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxCurrent
|
197000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
176636000 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Amortized Cost Noncurrent
DebtSecuritiesAvailableForSaleAmortizedCostNoncurrent
|
62225000 | usd |
CY2023Q4 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Gain Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainBeforeTaxNoncurrent
|
343000 | usd |
CY2023Q4 | abos |
Debt Securities Available For Sale Accumulated Gross Unrealized Loss Before Tax Noncurrent
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedLossBeforeTaxNoncurrent
|
15000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
62553000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
238879000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
522000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
212000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
239189000 | 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 |
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 |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
|
84580000 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
158000 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
|
12074000 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
|
54000 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
96654000 | usd |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
|
212000 | usd |
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 |
CY2023 | abos |
Debt Securities Available For Sale Noncurrent Term
DebtSecuritiesAvailableForSaleNoncurrentTerm
|
P2Y | |
CY2022Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
192441000 | usd |
CY2023Q4 | abos |
Research And Development Service Agreements Current
ResearchAndDevelopmentServiceAgreementsCurrent
|
1680000 | usd |
CY2022Q4 | abos |
Research And Development Service Agreements Current
ResearchAndDevelopmentServiceAgreementsCurrent
|
1077000 | usd |
CY2023Q4 | abos |
Prepaid Insurance Current
PrepaidInsuranceCurrent
|
807000 | usd |
CY2022Q4 | abos |
Prepaid Insurance Current
PrepaidInsuranceCurrent
|
1106000 | usd |
CY2023Q4 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
225000 | usd |
CY2022Q4 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
0 | usd |
CY2022Q4 | abos |
Dues And Subscriptions Current
DuesAndSubscriptionsCurrent
|
105000 | usd |
CY2023Q4 | abos |
Prepaid Raw Materials Current
PrepaidRawMaterialsCurrent
|
98000 | usd |
CY2022Q4 | abos |
Prepaid Raw Materials Current
PrepaidRawMaterialsCurrent
|
199000 | usd |
CY2023Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
108000 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
3093000 | usd |
CY2023Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3692000 | usd |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2008000 | usd |
CY2023Q4 | abos |
Research And Development Liability Current
ResearchAndDevelopmentLiabilityCurrent
|
2186000 | usd |
CY2022Q4 | abos |
Research And Development Liability Current
ResearchAndDevelopmentLiabilityCurrent
|
1211000 | usd |
CY2023Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
249000 | usd |
CY2022Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
0 | usd |
CY2023Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
212000 | usd |
CY2022Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
131000 | usd |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
6339000 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
3350000 | usd |
CY2023 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
17000 | usd |
CY2022 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
0 | usd |
CY2023 | abos |
Finance Lease Expense
FinanceLeaseExpense
|
17000 | usd |
CY2022 | abos |
Finance Lease Expense
FinanceLeaseExpense
|
0 | usd |
CY2023 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
133000 | usd |
CY2022 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
154000 | usd |
CY2023 | us-gaap |
Sublease Income
SubleaseIncome
|
5000 | usd |
CY2022 | us-gaap |
Sublease Income
SubleaseIncome
|
43000 | usd |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
128000 | usd |
CY2022 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
111000 | usd |
CY2023 | abos |
Short Term Lease Rent Expense
ShortTermLeaseRentExpense
|
15000 | usd |
CY2022 | abos |
Short Term Lease Rent Expense
ShortTermLeaseRentExpense
|
13000 | usd |
CY2023 | us-gaap |
Lease Cost
LeaseCost
|
160000 | usd |
CY2022 | us-gaap |
Lease Cost
LeaseCost
|
124000 | usd |
CY2023 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
17000 | usd |
CY2022 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
0 | usd |
CY2023 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
121000 | usd |
CY2022 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
154000 | usd |
CY2023 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
739000 | usd |
CY2022 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
0 | usd |
CY2023 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
399000 | usd |
CY2022 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
242000 | usd |
CY2023Q4 | abos |
Noncash Research And Development Expense Finance Lease Right Of Use Assets
NoncashResearchAndDevelopmentExpenseFinanceLeaseRightOfUseAssets
|
739000 | usd |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
4.38 | |
CY2022Q4 | abos |
Noncash Research And Development Expense Finance Lease Right Of Use Assets
NoncashResearchAndDevelopmentExpenseFinanceLeaseRightOfUseAssets
|
0 | usd |
CY2023Q4 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y9M18D | |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P3Y | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P0Y8M12D | |
CY2023Q4 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.097 | |
CY2022Q4 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0 | |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.097 | |
CY2022Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.100 | |
CY2023Q4 | us-gaap |
Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
|
763000 | usd |
CY2023Q4 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
763000 | usd |
CY2023Q4 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
7000 | usd |
CY2023Q4 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
756000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
143000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
155000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
158000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
456000 | usd |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
63000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
393000 | usd |
CY2023Q4 | abos |
Common Stock And Preferred Stock Shares Authorized
CommonStockAndPreferredStockSharesAuthorized
|
310000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
CY2023Q4 | abos |
Common Stock Number Of Voting Rights
CommonStockNumberOfVotingRights
|
1 | votingright |
CY2022Q3 | abos |
Sale Of Stock Commission Rate To Sales Agents
SaleOfStockCommissionRateToSalesAgents
|
0.030 | |
CY2023 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6145000 | usd |
CY2022 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3061000 | usd |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
3.79 | |
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 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
2045000 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
5.76 | |
CY2023 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
111206 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
2.92 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
14489 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
2.88 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
6251 | shares |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
|
8.33 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
7523947 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
4.01 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y8M12D | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
9004000 | usd |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
|
4021147 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
3.17 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
|
P7Y1M6D | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
7055000 | usd |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
500000 | usd |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
600000 | usd |
CY2023Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
12300000 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.025 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.027 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
|
-0.004 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
|
-0.005 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
-0.001 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
-0.011 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
|
-0.005 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
|
0 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.225 | |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.221 | |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.000 | |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
16555000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
13125000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
13328000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
6788000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
1849000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
675000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
1350000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
1381000 | usd |
CY2023Q4 | abos |
Deferred Tax Assets Intangible Assets
DeferredTaxAssetsIntangibleAssets
|
441000 | usd |
CY2022Q4 | abos |
Deferred Tax Assets Intangible Assets
DeferredTaxAssetsIntangibleAssets
|
0 | usd |
CY2023Q4 | abos |
Deferred Tax Assets Accruals And Other Temporary Differences
DeferredTaxAssetsAccrualsAndOtherTemporaryDifferences
|
575000 | usd |
CY2022Q4 | abos |
Deferred Tax Assets Accruals And Other Temporary Differences
DeferredTaxAssetsAccrualsAndOtherTemporaryDifferences
|
179000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
34098000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
22148000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
33661000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
22118000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
437000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
30000 | usd |
CY2023Q4 | abos |
Deferred Tax Liabilities Embedded Debt Derivative Liabilities
DeferredTaxLiabilitiesEmbeddedDebtDerivativeLiabilities
|
274000 | usd |
CY2022Q4 | abos |
Deferred Tax Liabilities Embedded Debt Derivative Liabilities
DeferredTaxLiabilitiesEmbeddedDebtDerivativeLiabilities
|
0 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
|
163000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
|
0 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
0 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
30000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
437000 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
30000 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | usd |
CY2022Q4 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
0 | usd |