2021 Q3 Form 10-Q Financial Statement

#000155837021010389 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $1.659M $1.824M $2.046M
YoY Change 14.49% -10.85% 130.93%
Cost Of Revenue $1.099M $1.263M $1.389M
YoY Change -7.57% -9.07% 39.74%
Gross Profit $560.0K $561.0K $657.0K
YoY Change 115.38% -14.61% -708.33%
Gross Profit Margin 33.76% 30.76% 32.11%
Selling, General & Admin $5.979M $5.870M $5.570M
YoY Change 54.9% 5.39% -25.44%
% of Gross Profit 1067.68% 1046.35% 847.79%
Research & Development $13.98M $7.897M $6.466M
YoY Change 123.97% 22.13% -63.09%
% of Gross Profit 2495.71% 1407.66% 984.17%
Depreciation & Amortization $200.0K $200.0K $300.0K
YoY Change -33.33% -33.33% -23.66%
% of Gross Profit 35.71% 35.65% 45.66%
Operating Expenses $13.98M $7.897M $6.466M
YoY Change 123.97% 22.13% -63.09%
Operating Profit -$20.30M -$18.01M -$11.38M
YoY Change 93.93% 58.21% -73.9%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$851.0K -$155.0K -$189.0K
YoY Change 338.66% -17.99% 122.35%
Pretax Income -$21.15M -$18.16M -$11.57M
YoY Change 98.37% 56.97% -73.52%
Income Tax
% Of Pretax Income
Net Earnings -$21.15M -$18.16M -$11.60M
YoY Change 98.39% 56.6% -76.75%
Net Earnings / Revenue -1274.62% -995.67% -566.81%
Basic Earnings Per Share -$0.35 -$0.34
Diluted Earnings Per Share -$345.4K -$0.34 -$275.3K
COMMON SHARES
Basic Shares Outstanding 61.22M 53.97M
Diluted Shares Outstanding 61.22M 53.97M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $197.9M $231.7M $68.12M
YoY Change 270.03% 240.12% -41.03%
Cash & Equivalents $53.60M $113.4M $32.59M
Short-Term Investments $144.3M $118.2M $35.53M
Other Short-Term Assets $7.089M $8.648M $2.100M
YoY Change 91.59% 311.81% -25.0%
Inventory
Prepaid Expenses
Receivables $811.0K $939.0K $775.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $205.8M $241.3M $70.96M
YoY Change 254.81% 240.02% -48.55%
LONG-TERM ASSETS
Property, Plant & Equipment $1.170M $1.287M $2.230M
YoY Change -39.06% -42.29% -46.9%
Goodwill
YoY Change
Intangibles $7.067M $7.086M $7.161M
YoY Change -1.05% -1.05%
Long-Term Investments $45.74M $34.50M
YoY Change
Other Assets $3.740M $3.909M $4.653M
YoY Change -22.78% -15.99% -12.21%
Total Long-Term Assets $57.71M $46.79M $14.04M
YoY Change 315.04% 233.13% -82.29%
TOTAL ASSETS
Total Short-Term Assets $205.8M $241.3M $70.96M
Total Long-Term Assets $57.71M $46.79M $14.04M
Total Assets $263.5M $288.0M $85.00M
YoY Change 266.46% 238.88% -60.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.564M $4.244M $5.502M
YoY Change 48.87% -22.86% -61.25%
Accrued Expenses $7.408M $6.931M $9.344M
YoY Change 94.13% -25.82% 127.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $600.0K
YoY Change -40.0%
Total Short-Term Liabilities $17.84M $14.92M $17.75M
YoY Change 39.5% -15.94% -58.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $10.73M $10.60M
YoY Change -100.0% 1.24% -64.55%
Other Long-Term Liabilities $2.507M $2.917M $3.331M
YoY Change -20.01% -12.43% -51.01%
Total Long-Term Liabilities $2.507M $2.917M $3.331M
YoY Change -20.01% -12.43% -90.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.84M $14.92M $17.75M
Total Long-Term Liabilities $2.507M $2.917M $3.331M
Total Liabilities $46.91M $54.23M $35.63M
YoY Change 50.63% 52.19% -55.46%
SHAREHOLDERS EQUITY
Retained Earnings -$572.6M -$551.5M -$480.7M
YoY Change 16.52% 14.73%
Common Stock $1.000K $1.000K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $216.6M $233.8M $49.37M
YoY Change
Total Liabilities & Shareholders Equity $263.5M $288.0M $85.00M
YoY Change 266.46% 238.88% -60.87%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$21.15M -$18.16M -$11.60M
YoY Change 98.39% 56.6% -76.75%
Depreciation, Depletion And Amortization $200.0K $200.0K $300.0K
YoY Change -33.33% -33.33% -23.66%
Cash From Operating Activities -$10.61M -$12.22M -$10.82M
YoY Change -12.71% 12.97% -49.39%
INVESTING ACTIVITIES
Capital Expenditures -$56.00K -$52.00K -$20.00K
YoY Change -81.94% 160.0% -92.0%
Acquisitions
YoY Change
Other Investing Activities -$37.62M -$45.42M -$10.47M
YoY Change -778.99% 333.83% -154.56%
Cash From Investing Activities -$37.67M -$45.47M -$10.48M
YoY Change -820.31% 333.91% -155.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.57M 135.9M -100.0K
YoY Change 4031.07% -135971.0% -16.67%
NET CHANGE
Cash From Operating Activities -10.61M -12.22M -10.82M
Cash From Investing Activities -37.67M -45.47M -10.48M
Cash From Financing Activities -11.57M 135.9M -100.0K
Net Change In Cash -59.84M 78.17M -21.40M
YoY Change 731.18% -465.3% 739.22%
FREE CASH FLOW
Cash From Operating Activities -$10.61M -$12.22M -$10.82M
Capital Expenditures -$56.00K -$52.00K -$20.00K
Free Cash Flow -$10.55M -$12.17M -$10.80M
YoY Change -10.9% 12.69% -48.89%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">1. Organization and Nature of Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Overview</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Aclaris Therapeutics, Inc. was incorporated under the laws of the State of Delaware in 2012.  In July 2015, Aclaris Therapeutics International Limited (“ATIL”) was established under the laws of the United Kingdom as a wholly-owned subsidiary of Aclaris Therapeutics, Inc.  In August 2017, Confluence Life Sciences, Inc. (now known as Aclaris Life Sciences, Inc.) (“Confluence”) was acquired by Aclaris Therapeutics, Inc. and became a wholly-owned subsidiary thereof.  Aclaris Therapeutics, Inc., ATIL and Confluence are referred to collectively as the “Company.”  The Company is a clinical-stage biopharmaceutical company focused on developing novel drug candidates for immuno-inflammatory diseases.  In addition to developing its novel drug candidates, the Company is pursuing strategic alternatives, including identifying and consummating transactions with third-party partners, to further develop, obtain marketing approval for and/or commercialize its novel drug candidates.  </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Liquidity</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The Company’s condensed consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets and the satisfaction of liabilities in the ordinary course of business.  As of June 30, 2021, the Company had cash, cash equivalents and marketable securities of $266.2 million and an accumulated deficit of $551.5 million.  Since inception, the Company has incurred net losses and negative cash flows from its operations.  Prior to the acquisition of Confluence in August 2017, the Company had never generated revenue.  There can be no assurance that profitable operations will ever be achieved, and, if achieved, will be sustained on a continuing basis.  In addition, development activities, including clinical and preclinical testing of the Company’s drug candidates, will require significant additional financing.  The future viability of the Company is dependent on its ability to successfully develop its drug candidates and to generate revenue from identifying and consummating transactions with third-party partners to further develop, obtain marketing approval for and/or commercialize its development assets or to raise additional capital to finance its operations.  The Company will require additional capital to complete the clinical development of ATI-450 and ATI-1777, to develop its preclinical compounds, and to support its discovery efforts.  </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Additional funds may not be available on a timely basis, on commercially acceptable terms, or at all, and such funds, if raised, may not be sufficient to enable the Company to continue to implement its long-term business strategy.  The Company’s ability to raise additional capital may be adversely impacted by potential worsening global economic conditions and the recent disruptions to, and volatility in, the credit and financial markets in the United States and worldwide resulting from the ongoing COVID-19 pandemic.  If the Company is unable to raise sufficient additional capital or generate revenue from transactions with potential third-party partners for the development and/or commercialization of its drug candidates, it may need to substantially curtail planned operations. The Company’s failure to raise capital as and when needed could have a negative impact on its financial condition and ability to pursue its business strategies.  </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">In accordance with Accounting Standards Update (“ASU”) 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), the Company evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that its condensed consolidated financial statements are issued.  As of the report date, the Company does not believe that substantial doubt exists about its ability to continue as a going concern.  The Company believes its existing cash, cash equivalents and marketable securities are sufficient to fund its operating and capital expenditure requirements for a period greater than 12 months from the date of issuance of these condensed consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods.  Significant estimates and assumptions reflected in these financial statements include, but are not limited to, research and development expenses, contingent consideration and the valuation of stock-based awards.  Estimates are periodically reviewed in light of changes in circumstances, facts and experience. The COVID-19 pandemic has resulted in a global slowdown in economic activity. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require an update to its estimates, assumptions and judgments or revise the carrying value of its assets or liabilities.  Actual results could differ from the Company’s estimates.</p>
us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Reclassifications</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Certain prior year amounts have been reclassified to conform to the current year financial statement presentation. </p>
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
3738625
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
17.54
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y2M12D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
17541000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2044235
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
17.51
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y9M18D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
10090000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.96
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3832000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3309000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6507000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6762000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
16700000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
16700000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-18161000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-11597000
us-gaap Net Income Loss
NetIncomeLoss
-46915000
us-gaap Net Income Loss
NetIncomeLoss
-27183000
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
53968405
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
42133646
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
52163136
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
41876037
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.34
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.28
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.90
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.65
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5237341
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6268451
CY2021Q2 us-gaap Net Rentable Area
NetRentableArea
33019
CY2020 acrs Area Of Property Sub Subleased
AreaOfPropertySubSubleased
8115
CY2019Q1 us-gaap Net Rentable Area
NetRentableArea
20433
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
647000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
603000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2559000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2894000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1824000
CY2021Q2 us-gaap Cost Of Revenue
CostOfRevenue
1263000
CY2021Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7897000
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5870000
CY2021Q2 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
4800000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-18006000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
3206000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3497000
CY2020Q2 acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
300000
CY2021Q2 acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
300000
acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
500000
acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
500000
acrs Number Of Financing Lease Arrangements
NumberOfFinancingLeaseArrangements
2
CY2021Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
25300000
CY2020Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
4100000
CY2021Q2 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
936000
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Accounts Payable Current
DisposalGroupIncludingDiscontinuedOperationAccountsPayableCurrent
1175000
CY2021Q2 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent
2158000
CY2020Q4 us-gaap Disposal Group Including Discontinued Operation Accrued Liabilities Current
DisposalGroupIncludingDiscontinuedOperationAccruedLiabilitiesCurrent
1936000
CY2021Q2 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
3094000
CY2020Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
3111000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2046000
CY2020Q2 us-gaap Cost Of Revenue
CostOfRevenue
1389000
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6466000
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5572000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-11381000
CY2020Q2 us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-27000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3601000
us-gaap Cost Of Revenue
CostOfRevenue
2465000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15735000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10697000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
21239000
us-gaap Operating Income Loss
OperatingIncomeLoss
-46535000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3453000
us-gaap Cost Of Revenue
CostOfRevenue
2658000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14142000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11773000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1767000
us-gaap Operating Income Loss
OperatingIncomeLoss
-26887000
us-gaap Disposal Group Including Discontinued Operation Operating Income Loss
DisposalGroupIncludingDiscontinuedOperationOperatingIncomeLoss
-285000

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