2022 Q3 Form 10-Q Financial Statement
#000156459022029122 Filed on August 11, 2022
Income Statement
Concept | 2022 Q3 | 2022 Q2 | 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 | $2.770M | $2.866M | $2.838M |
YoY Change | 31.78% | 38.12% | 21.28% |
% of Gross Profit | |||
Research & Development | $9.869M | $7.207M | $4.388M |
YoY Change | 114.96% | -21.89% | -22.23% |
% of Gross Profit | |||
Depreciation & Amortization | $55.00K | $56.00K | $60.00K |
YoY Change | -9.84% | -16.42% | 0.0% |
% of Gross Profit | |||
Operating Expenses | $9.869M | $7.207M | $7.226M |
YoY Change | 47.45% | -21.89% | 28.08% |
Operating Profit | |||
YoY Change | |||
Interest Expense | $481.0K | $404.0K | $357.0K |
YoY Change | 15933.33% | 13366.67% | 3470.0% |
% of Operating Profit | |||
Other Income/Expense, Net | -$438.0K | -$395.0K | $6.000K |
YoY Change | 43700.0% | 4288.89% | -140.0% |
Pretax Income | -$13.08M | -$10.47M | -$7.573M |
YoY Change | 95.44% | -7.45% | -5.34% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$13.08M | -$10.47M | -$7.573M |
YoY Change | 95.44% | -7.45% | -5.33% |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$1.35 | -$1.08 | -$0.80 |
Diluted Earnings Per Share | -$1.35 | -$1.08 | -$800.6K |
COMMON SHARES | |||
Basic Shares Outstanding | 9.682M | 9.648M | 9.459M |
Diluted Shares Outstanding | 9.694M | 9.648M | 9.459M |
Balance Sheet
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $18.20M | $29.38M | $36.34M |
YoY Change | -45.37% | -30.05% | 22.76% |
Cash & Equivalents | $18.20M | $29.40M | $36.30M |
Short-Term Investments | |||
Other Short-Term Assets | $2.615M | $1.457M | $1.355M |
YoY Change | 105.91% | 238.84% | 69.38% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $20.96M | $31.15M | $37.69M |
YoY Change | -39.66% | -26.59% | 23.83% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $18.00K | $33.00K | $49.00K |
YoY Change | -82.0% | 22.22% | 48.48% |
Goodwill | $1.034M | $1.034M | $1.034M |
YoY Change | 0.0% | ||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $239.0K | $240.0K | $253.0K |
YoY Change | 1.7% | 5.73% | 26.5% |
Total Long-Term Assets | $2.766M | $2.837M | $2.922M |
YoY Change | -9.78% | -9.48% | -10.4% |
TOTAL ASSETS | |||
Total Short-Term Assets | $20.96M | $31.15M | $37.69M |
Total Long-Term Assets | $2.766M | $2.837M | $2.922M |
Total Assets | $23.72M | $33.99M | $40.61M |
YoY Change | -37.24% | -25.41% | 20.52% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $412.0K | $656.0K | $418.0K |
YoY Change | -49.45% | 14.09% | -30.33% |
Accrued Expenses | $6.504M | $4.703M | $3.592M |
YoY Change | 187.66% | 14.85% | 23.86% |
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 | $6.916M | $5.359M | $4.010M |
YoY Change | 124.84% | 14.75% | 14.57% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $15.76M | $15.46M | $15.17M |
YoY Change | |||
Other Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | -100.0% | -100.0% |
Total Long-Term Liabilities | $15.76M | $15.46M | $15.17M |
YoY Change | 68434.78% | 37607.32% | 15071.0% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $6.916M | $5.359M | $4.010M |
Total Long-Term Liabilities | $15.76M | $15.46M | $15.17M |
Total Liabilities | $22.68M | $20.82M | $19.18M |
YoY Change | 631.82% | 341.92% | 436.68% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$124.7M | -$111.6M | -$101.2M |
YoY Change | 44.33% | 40.03% | |
Common Stock | $125.7M | $124.8M | |
YoY Change | 3.48% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $1.044M | $13.17M | $21.43M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $23.72M | $33.99M | $40.61M |
YoY Change | -37.24% | -25.41% | 20.52% |
Cashflow Statement
Concept | 2022 Q3 | 2022 Q2 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$13.08M | -$10.47M | -$7.573M |
YoY Change | 95.44% | -7.45% | -5.33% |
Depreciation, Depletion And Amortization | $55.00K | $56.00K | $60.00K |
YoY Change | -9.84% | -16.42% | 0.0% |
Cash From Operating Activities | -$11.31M | -$8.320M | -$6.800M |
YoY Change | 30.06% | -8.35% | 5.39% |
INVESTING ACTIVITIES | |||
Capital Expenditures | |||
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | |||
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 126.0K | 1.361M | 95.00K |
YoY Change | 1475.0% | -93.65% | -59.75% |
NET CHANGE | |||
Cash From Operating Activities | -11.31M | -8.320M | -6.800M |
Cash From Investing Activities | |||
Cash From Financing Activities | 126.0K | 1.361M | 95.00K |
Net Change In Cash | -11.18M | -6.959M | -6.685M |
YoY Change | 28.72% | -156.32% | 7.55% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$11.31M | -$8.320M | -$6.800M |
Capital Expenditures | |||
Free Cash Flow | |||
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
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Shares Issued On Exercise Of Warrants Value
SharesIssuedOnExerciseOfWarrantsValue
|
24000 | |
CY2022Q1 | achv |
Adjustments To Additional Paid In Capital Shares Issued Through At The Market Offering
AdjustmentsToAdditionalPaidInCapitalSharesIssuedThroughAtTheMarketOffering
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91000 | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
99000 | ||
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-185000 | ||
us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
165000 | ||
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Increase Decrease In Accrued Clinical Liabilities
IncreaseDecreaseInAccruedClinicalLiabilities
|
1694000 | ||
us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-837000 | ||
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Increase Decrease In Lease Obligations
IncreaseDecreaseInLeaseObligations
|
1000 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-15099000 | ||
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Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
24000 | ||
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Proceeds From At Market Offering
ProceedsFromAtMarketOffering
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1499000 | ||
us-gaap |
Payments Of Financing Costs
PaymentsOfFinancingCosts
|
20000 | ||
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
47000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1456000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
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|
21674000 | ||
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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6148000 | ||
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
43072000 | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
28042000 | |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
823000 | |
us-gaap |
Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
|
0 | ||
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Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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26000 | |
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Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
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18.57 | |
CY2021Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
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0.0997 | |
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0.0997 | |
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Operating Lease Weighted Average Discount Rate Percent
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0.0997 | |
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Guarantee Obligations Current Carrying Value
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Indemnification Expense
IndemnificationExpense
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NetIncomeLoss
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Stockholders Equity
StockholdersEquity
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CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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Adjustments To Additional Paid In Capital Shares Issued Through At The Market Offering
AdjustmentsToAdditionalPaidInCapitalSharesIssuedThroughAtTheMarketOffering
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StockIssuedDuringPeriodValueRestrictedStockUnitSettlementWithheldAndRetiredToTreasury
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Net Income Loss
NetIncomeLoss
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CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
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CY2020Q4 | us-gaap |
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StockholdersEquity
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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236000 | |
CY2021Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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Net Income Loss
NetIncomeLoss
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CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
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30088000 | |
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Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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Shares Issued On Exercise Of Warrants Value
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Stockholders Equity
StockholdersEquity
|
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Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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Cash And Cash Equivalents At Carrying Value
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Working Capital Balance
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25800000 | |
us-gaap |
Net Cash Provided By Used In Operating Activities
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|
-15100000 | ||
CY2015Q2 | us-gaap |
Finite Lived Intangible Assets Fair Value Disclosure
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P14Y | |
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Operating Lease Payments
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|
29000 | ||
us-gaap |
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|
53000 | ||
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Operating Lease Weighted Average Remaining Lease Term1
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Operating Lease Weighted Average Remaining Lease Term1
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|
0.0997 | |
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FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
|
111000 | |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
223000 | |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
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|
223000 | |
CY2022Q2 | us-gaap |
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100000 | |
CY2021Q2 | us-gaap |
Amortization Of Intangible Assets
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100000 | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
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100000 | ||
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
100000 | ||
CY2022Q2 | achv |
Finite Lived Intangible Assets Amortization Expense After Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearTwo
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973000 | |
CY2022Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1530000 | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
522090 | |
CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
26.11 | |
CY2022Q2 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
27983000 | |
CY2022Q2 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
27983000 | |
CY2022Q2 | us-gaap |
Restricted Cash And Cash Equivalents
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50000 | |
CY2022Q2 | us-gaap |
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50000 | |
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Maximum Maturity Period Of Cash And Cash Equivalents
MaximumMaturityPeriodOfCashAndCashEquivalents
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Debt Instrument Face Amount
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15000000 | |
CY2022Q2 | us-gaap |
Convertible Debt
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15460000 | |
CY2022Q2 | us-gaap |
Convertible Debt Fair Value Disclosures
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16074000 | |
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15000000 | |
CY2021Q4 | us-gaap |
Convertible Debt
ConvertibleDebt
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14920000 | |
CY2021Q4 | us-gaap |
Convertible Debt Fair Value Disclosures
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15204000 | |
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Debt Instrument Basis Spread On Variable Rate1
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0.0225 | |
CY2021Q4 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
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0.070 | |
CY2022Q2 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
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15000000 | |
CY2021Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
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15000000 | |
CY2022Q2 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
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100000 | |
CY2021Q4 | us-gaap |
Deferred Finance Costs Net
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109000 | |
CY2022Q2 | us-gaap |
Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
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560000 | |
CY2021Q4 | us-gaap |
Interest Payable Current And Noncurrent
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29000 | |
CY2022Q2 | us-gaap |
Convertible Debt
ConvertibleDebt
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15460000 | |
CY2022Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
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150000000 | |
CY2022Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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0.001 | |
CY2022Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
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5000000 | |
CY2022Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
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0.001 | |
CY2022Q2 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
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0 | |
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
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26625 | |
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Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
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26625 | ||
CY2021Q2 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
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Stock Issued During Period Shares Stock Options Exercised
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Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
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Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
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0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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300450 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
7.83 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
|
25 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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|
28522.56 | ||
CY2022Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
822515 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0165 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0061 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.2280 | ||
CY2022Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
840000 | |
CY2021Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
621000 | |
CY2022Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
4300000 | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
2315337 | ||
CY2022Q2 | us-gaap |
Contractual Obligation
ContractualObligation
|
39000 | |
CY2022Q2 | us-gaap |
Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
|
39000 | |
CY2022Q2 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
33000 | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y11M26D | ||
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
35903000 | |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
66000 | ||
CY2021Q2 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
100000 | |
us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
100000 | ||
CY2022Q2 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
16000 | |
CY2021Q2 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
15000 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.0983 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1663000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1163000 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1775401 |