2020 Form 10-K Financial Statement

#000156459021012664 Filed on March 12, 2021

View on sec.gov

Income Statement

Concept 2020 2019 Q4 2019
Revenue $17.90M $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $22.76M $3.330M $11.82M
YoY Change 92.55% 65.67% 36.81%
% of Gross Profit
Research & Development $34.33M $26.11M $23.69M
YoY Change 44.92% 500.23% 60.98%
% of Gross Profit
Depreciation & Amortization $1.230M $40.00K $100.0K
YoY Change 1130.0% 100.0% 25.0%
% of Gross Profit
Operating Expenses $57.09M $29.44M $85.46M
YoY Change -33.19% 362.89% 269.22%
Operating Profit -$39.19M -$29.44M -$85.46M
YoY Change -54.14% 362.83% 115.23%
Interest Expense $134.0K $2.820M $2.820M
YoY Change -95.25%
% of Operating Profit
Other Income/Expense, Net -$953.0K -$2.270M $2.331M
YoY Change -140.88% -460.32% 9.95%
Pretax Income -$39.49M -$28.89M -$28.12M
YoY Change 40.45% 404.19% 184.38%
Income Tax -$2.815M $10.00K $19.00K
% Of Pretax Income
Net Earnings -$36.68M -$28.89M -$28.14M
YoY Change 30.35% 401.82% 202.59%
Net Earnings / Revenue -204.91%
Basic Earnings Per Share
Diluted Earnings Per Share -$5.011M -$6.641M -$16.89M
COMMON SHARES
Basic Shares Outstanding 7.320M 36.44M 2.148M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 2019 Q4 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $94.60M $62.40M $62.40M
YoY Change 51.6% -42.22% -42.22%
Cash & Equivalents $84.30M $10.61M $10.60M
Short-Term Investments $10.30M $51.79M $51.80M
Other Short-Term Assets $3.000M $179.0K $900.0K
YoY Change 233.33% 1093.33% -40.0%
Inventory
Prepaid Expenses $615.0K
Receivables
Other Receivables
Total Short-Term Assets $100.3M $93.25M $64.20M
YoY Change 56.23% -14.86% -41.37%
LONG-TERM ASSETS
Property, Plant & Equipment $25.90M $2.121M $2.100M
YoY Change 1133.33% 560.75% 600.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $10.60M $10.60M
YoY Change -100.0%
Other Assets $6.400M $410.0K $4.700M
YoY Change 36.17% 310.0% 4600.0%
Total Long-Term Assets $53.50M -$11.67M $17.40M
YoY Change 207.47% -2980.49% 4250.0%
TOTAL ASSETS
Total Short-Term Assets $100.3M $93.25M $64.20M
Total Long-Term Assets $53.50M -$11.67M $17.40M
Total Assets $153.8M $81.59M $81.60M
YoY Change 88.48% -25.79% -25.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.600M $1.052M $1.100M
YoY Change 45.45% -64.8% -63.33%
Accrued Expenses $6.900M $5.483M $2.800M
YoY Change 146.43% 101.06% 3.7%
Deferred Revenue $10.99M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.50M $14.87M $14.90M
YoY Change 51.01% 160.06% 161.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $21.40M $15.00K $13.00M
YoY Change 64.62% -21.05%
Total Long-Term Liabilities $21.40M $15.00K $13.00M
YoY Change 64.62% -21.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.50M $14.87M $14.90M
Total Long-Term Liabilities $21.40M $15.00K $13.00M
Total Liabilities $44.00M $27.87M $27.90M
YoY Change 57.71% 385.96% 389.47%
SHAREHOLDERS EQUITY
Retained Earnings -$69.65M
YoY Change -2.45%
Common Stock $9.262M
YoY Change -94.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $109.8M -$60.37M $53.70M
YoY Change
Total Liabilities & Shareholders Equity $153.8M $81.59M $81.60M
YoY Change 88.48% -25.79% -25.75%

Cashflow Statement

Concept 2020 2019 Q4 2019
OPERATING ACTIVITIES
Net Income -$36.68M -$28.89M -$28.14M
YoY Change 30.35% 401.82% 202.59%
Depreciation, Depletion And Amortization $1.230M $40.00K $100.0K
YoY Change 1130.0% 100.0% 25.0%
Cash From Operating Activities -$41.55M -$25.64M -$27.88M
YoY Change 49.03% 232.12% 53.37%
INVESTING ACTIVITIES
Capital Expenditures $990.0K -$30.00K $1.070M
YoY Change -7.48% 0.0% 22.15%
Acquisitions
YoY Change
Other Investing Activities $116.2M $36.00M $44.40M
YoY Change 161.73% -546.65% -144.25%
Cash From Investing Activities $115.2M $35.97M -$47.93M
YoY Change -340.38% -544.62% 198.49%
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 303.0K -10.00K 76.95M
YoY Change -99.61% 596.59%
NET CHANGE
Cash From Operating Activities -41.55M -25.64M -27.88M
Cash From Investing Activities 115.2M 35.97M -47.93M
Cash From Financing Activities 303.0K -10.00K 76.95M
Net Change In Cash 73.97M 10.32M 1.132M
YoY Change 6434.28% -165.28% -104.88%
FREE CASH FLOW
Cash From Operating Activities -$41.55M -$25.64M -$27.88M
Capital Expenditures $990.0K -$30.00K $1.070M
Free Cash Flow -$42.54M -$25.61M -$28.95M
YoY Change 46.94% 233.03% 51.93%

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CY2020 acet Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-859000
CY2020 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
787000
CY2019 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-360000
CY2018 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-1324000
CY2020 acet Increase Decrease In Deferred Tax Liability
IncreaseDecreaseInDeferredTaxLiability
-242000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-41552000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-27882000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18180000
CY2020 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
64114000
CY2020 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
5700000
CY2019 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
76078000
CY2018 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
15182000
CY2020 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
57793000
CY2019 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
29099000
CY2019 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
118000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
990000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1070000
CY2018 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
876000
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-47931000
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16058000
CY2019 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
76915000
CY2018 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
10825000
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
30000
CY2018 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
221000
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
157000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
303000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
76945000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11046000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
73968000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1132000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-23192000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14889000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13757000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36949000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88857000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14889000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13757000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
84330000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10607000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
9475000
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
4527000
CY2019Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
4282000
CY2018Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
4282000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88857000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14889000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13757000
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
3000
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
1000
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
5109000
CY2020 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
664000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
115000
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
48000
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
61000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
22367000
CY2020 acet Issuance Of Redeemable Convertible Preferred Stock On Exercise Of Warrants With Loan Agreement
IssuanceOfRedeemableConvertiblePreferredStockOnExerciseOfWarrantsWithLoanAgreement
144000
CY2020 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
114083000
CY2020 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
2922000
CY2020 us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
84142000
CY2020 acet Goodwill Measurement Period Adjustments
GoodwillMeasurementPeriodAdjustments
650000
CY2019 acet Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
47000
CY2018 acet Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
44000
CY2018 acet Exercise Of Redeemable Convertible Preferred Stock Tranche Liabilities
ExerciseOfRedeemableConvertiblePreferredStockTrancheLiabilities
902000
CY2019 acet Termination Of Redeemable Convertible Preferred Stock Tranche Liability
TerminationOfRedeemableConvertiblePreferredStockTrancheLiability
1143000
CY2019 acet Settlement Of Trdf Liability
SettlementOfTRDFLiability
88000
CY2020 acet Entity Date Of Merger
EntityDateOfMerger
2020-04-28
CY2020Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.25
CY2020Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-7
CY2020Q3 acet Exchange Ratio
ExchangeRatio
0.1240
CY2020Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.25
CY2020Q3 acet Exchange Ratio
ExchangeRatio
0.1240
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:3.52%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the date of the consolidated financial statements as well as the reported amounts of revenues and expenses during the reporting period. Such estimates include the valuation of the intangible assets acquired in business combinations, redeemable convertible preferred stock warrant liability, redeemable convertible preferred stock tranche liability, the Technion Research and Development Foundation liability (TRDF Liability), contingent consideration liability for contingent value right (CVR), deferred tax assets, useful lives of property and equipment, accruals for research and development activities, revenue recognition and stock-based compensation and the Company’s incremental borrowing rate. Actual results could differ from those estimates.</p>
CY2020 acet Gain Loss On Change In Fair Value Of Contingent Consideration Liability
GainLossOnChangeInFairValueOfContingentConsiderationLiability
1900000
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:3.52%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents, and marketable debt securities. The Company’s cash and cash equivalents are held at two financial institutions in the U.S. and one financial institution in Israel and such amounts may, at times, exceed insured limits. The Company invests its cash equivalents and marketable debt securities in money market funds, U.S. government securities, commercial paper, corporate bonds, and asset-backed securities. The Company limits its credit risk associated with cash equivalents and marketable debt securities by placing them with banks and institutions it believes are highly creditworthy and in highly rated investments. The Company has not experienced any losses on its deposits of cash and cash equivalents and marketable debt securities to date.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:3.52%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has one customer, Regeneron Pharmaceuticals, Inc. (Regeneron), which represents 100% of the Company’s total revenue during the years ended December 31, 2020, 2019 and 2018 (see Note 10).</p>
CY2020Q4 acet Number Of Customer
NumberOfCustomer
1
CY2020 acet Customers Percentage Of Total Revenue
CustomersPercentageOfTotalRevenue
1
CY2019 acet Customers Percentage Of Total Revenue
CustomersPercentageOfTotalRevenue
1
CY2018 acet Customers Percentage Of Total Revenue
CustomersPercentageOfTotalRevenue
1
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.277
CY2020 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2019 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1400000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1800000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
23100000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21600000
CY2020 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
400000
CY2020Q3 us-gaap Business Combination Step Acquisition Equity Interest In Acquiree Percentage
BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage
0.750
CY2020Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-7
CY2020 acet Business Acquisitions Pro Forma Revenue1
BusinessAcquisitionsProFormaRevenue1
17903000
CY2019 acet Business Acquisitions Pro Forma Revenue1
BusinessAcquisitionsProFormaRevenue1
995000
CY2020 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-35757000
CY2019 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-113151000
CY2020 acet Milestone Closing Liability
MilestoneClosingLiability
6200000
CY2020 acet Additional Closing Liability
AdditionalClosingLiability
5000000.0
CY2020 acet Increase Decrease In Estimated Fair Value Of Cvr Liability
IncreaseDecreaseInEstimatedFairValueOfCvrLiability
1900000
CY2020Q4 acet Estimated Fair Value Of Cvr Liability
EstimatedFairValueOfCVRLiability
1000000.0
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
10260000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
24000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
10284000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
62358000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
30000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
62381000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
10260000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
10284000
CY2020Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
10260000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
10284000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
10284000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
51793000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
10588000
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
10284000
CY2019Q4 us-gaap Marketable Securities
MarketableSecurities
62381000
CY2020Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1185000
CY2019Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
615000
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1443000
CY2019Q4 us-gaap Prepaid Insurance
PrepaidInsurance
57000
CY2020Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
2711000
CY2019Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
722000
CY2020Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
20000
CY2019Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
213000
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
363000
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
179000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5722000
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1786000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7654000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5759000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4864000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3638000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2790000
CY2020 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
859000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
22367000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
23100000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21600000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
0
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2121000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3833000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1359000
CY2020Q4 acet Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
1187000
CY2019Q4 acet Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
450000
CY2020Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
386000
CY2019Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
301000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
326000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
710000
CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
5732000
CY2019Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2820000
CY2020Q2 us-gaap Loans Receivable Basis Spread On Variable Rate
LoansReceivableBasisSpreadOnVariableRate
0.0500
CY2020 us-gaap Debt Instrument Maturity Date Range End1
DebtInstrumentMaturityDateRangeEnd1
2021-10-28
CY2020Q4 acet Loan Amount Drawn
LoanAmountDrawn
0
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
100000
CY2020 acet Incremental Expense
IncrementalExpense
0
CY2020Q4 us-gaap Deferred Finance Costs Gross
DeferredFinanceCostsGross
200000
CY2020 acet Licence Agreement Cumulative Revenue Recognised
LicenceAgreementCumulativeRevenueRecognised
17900000
CY2019 acet Licence Agreement Cumulative Revenue Recognised
LicenceAgreementCumulativeRevenueRecognised
1000000.0
CY2018 acet Licence Agreement Cumulative Revenue Recognised
LicenceAgreementCumulativeRevenueRecognised
8200000
CY2019Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P7Y
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
3500000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
700000
CY2018 us-gaap Operating Lease Payments
OperatingLeasePayments
500000
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0720
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
894000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
2505000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
2818000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
3429000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
3525000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
3624000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
13747000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
29648000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8009000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21639000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1215000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
20424000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
2721000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
3518000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2942000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2798000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2882000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
16328000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
31189000
CY2020 acet Lawsuits Filed Against Company
LawsuitsFiledAgainstCompany
7
CY2020Q4 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
200000
CY2019Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
99363444
CY2019Q4 acet Temporary Equity Shares Issued And Outstanding
TemporaryEquitySharesIssuedAndOutstanding
97166921
CY2019Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
114083000
CY2019Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
128195000
CY2019Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
12048671
CY2020 acet Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
128260
CY2020 acet Number Of Securities Converted To Warrants To Purchase Common Stock
NumberOfSecuritiesConvertedToWarrantsToPurchaseCommonStock
1683456
CY2020Q4 acet Class Of Warrant Outstanding And Exercisable To Purchase Common Stock
ClassOfWarrantOutstandingAndExercisableToPurchaseCommonStock
226191
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.3177
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
226191
CY2020 acet Milestone Closing Liability
MilestoneClosingLiability
6200000
CY2020 acet Additional Closing Liability
AdditionalClosingLiability
5000000.0
CY2019 acet Change In Fair Value Of Redeemable Convertible Preferred Stock Tranche Liability And Trdf Liabilities
ChangeInFairValueOfRedeemableConvertiblePreferredStockTrancheLiabilityAndTRDFLiabilities
2000000.0
CY2020Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
2900000
CY2019Q4 acet Class Of Warrant Outstanding And Exercisable To Purchase Preferred Shares
ClassOfWarrantOutstandingAndExercisableToPurchasePreferredShares
1781387
CY2019Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.4034
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.05
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5812000
CY2020 acet Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant As Part Of Merger
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantAsPartOfMerger
2707144
CY2020 acet Share Based Compensation Arrangement By Share Based Payment Award Options Assumed As Part Of Merger
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAssumedAsPartOfMerger
81370
CY2020 acet Share Based Compensation Arrangements By Share Based Payment Award Options Assumed As Part Of Merger In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsAssumedAsPartOfMergerInPeriodWeightedAverageExercisePrice
8.39
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5672757
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
14834849
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
600000
CY2020 acet Termination Agreement Month And Year
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