2022 Q4 Form 10-Q Financial Statement

#000155837022016738 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $7.753M $19.02M $1.659M
YoY Change 416.52% 1046.35% 14.49%
Cost Of Revenue $1.514M $923.0K $1.099M
YoY Change 31.77% -16.01% -7.57%
Gross Profit $6.239M $18.10M $560.0K
YoY Change 1672.44% 3131.25% 115.38%
Gross Profit Margin 80.47% 95.15% 33.76%
Selling, General & Admin $7.146M $5.813M $5.979M
YoY Change 2.92% -2.78% 54.9%
% of Gross Profit 114.54% 32.12% 1067.68%
Research & Development $21.07M $23.66M $13.98M
YoY Change 49.43% 69.26% 123.97%
% of Gross Profit 337.75% 130.73% 2495.71%
Depreciation & Amortization $190.0K $200.0K $200.0K
YoY Change -3.55% 0.0% -33.33%
% of Gross Profit 3.05% 1.11% 35.71%
Operating Expenses $28.22M $23.66M $13.98M
YoY Change 34.08% 69.26% 123.97%
Operating Profit -$21.98M -$20.87M -$20.30M
YoY Change 6.21% 2.85% 93.93%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.444M $922.0K -$851.0K
YoY Change 1522.47% -208.34% 338.66%
Pretax Income -$27.64M -$19.95M -$21.15M
YoY Change 21.18% -5.65% 98.37%
Income Tax
% Of Pretax Income
Net Earnings -$27.64M -$19.95M -$21.15M
YoY Change 21.18% -5.65% 98.39%
Net Earnings / Revenue -356.44% -104.91% -1274.62%
Basic Earnings Per Share -$0.30 -$0.35
Diluted Earnings Per Share -$0.41 -$0.30 -$345.4K
COMMON SHARES
Basic Shares Outstanding 66.68M 66.67M 61.22M
Diluted Shares Outstanding 66.68M 61.22M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $217.6M $248.1M $197.9M
YoY Change 13.67% 25.36% 270.03%
Cash & Equivalents $45.28M $61.65M $53.60M
Short-Term Investments $172.3M $186.4M $144.3M
Other Short-Term Assets $13.50M $7.914M $7.089M
YoY Change 3.85% 11.64% 91.59%
Inventory
Prepaid Expenses
Receivables $484.0K $597.0K $811.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $231.6M $256.6M $205.8M
YoY Change 12.93% 24.68% 254.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.099M $1.145M $1.170M
YoY Change -17.68% -2.14% -39.06%
Goodwill
YoY Change
Intangibles $6.973M $6.992M $7.067M
YoY Change -1.06% -1.06% -1.05%
Long-Term Investments $12.24M $0.00 $45.74M
YoY Change -64.25% -100.0%
Other Assets $2.732M $2.922M $3.740M
YoY Change -23.13% -21.87% -22.78%
Total Long-Term Assets $23.05M $11.06M $57.71M
YoY Change -50.09% -80.84% 315.04%
TOTAL ASSETS
Total Short-Term Assets $231.6M $256.6M $205.8M
Total Long-Term Assets $23.05M $11.06M $57.71M
Total Assets $254.6M $267.6M $263.5M
YoY Change 1.35% 1.57% 266.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.35M $7.667M $7.564M
YoY Change 3.67% 1.36% 48.87%
Accrued Expenses $8.701M $9.154M $7.408M
YoY Change -13.43% 23.57% 94.13%
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 $21.94M $19.79M $17.84M
YoY Change -4.33% 10.93% 39.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $1.570M $1.638M $2.507M
YoY Change -27.72% -34.66% -20.01%
Total Long-Term Liabilities $1.570M $1.638M $2.507M
YoY Change -27.72% -34.66% -20.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.94M $19.79M $17.84M
Total Long-Term Liabilities $1.570M $1.638M $2.507M
Total Liabilities $56.98M $47.79M $46.91M
YoY Change 5.76% 1.88% 50.63%
SHAREHOLDERS EQUITY
Retained Earnings -$682.3M -$654.7M -$572.6M
YoY Change 14.59% 14.34% 16.52%
Common Stock $1.000K $1.000K $1.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $197.6M $219.8M $216.6M
YoY Change
Total Liabilities & Shareholders Equity $254.6M $267.6M $263.5M
YoY Change 1.35% 1.57% 266.46%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$27.64M -$19.95M -$21.15M
YoY Change 21.18% -5.65% 98.39%
Depreciation, Depletion And Amortization $190.0K $200.0K $200.0K
YoY Change -3.55% 0.0% -33.33%
Cash From Operating Activities -$19.11M -$7.817M -$10.61M
YoY Change 11.95% -26.3% -12.71%
INVESTING ACTIVITIES
Capital Expenditures $105.0K -$150.0K -$56.00K
YoY Change -152.5% 167.86% -81.94%
Acquisitions
YoY Change
Other Investing Activities $2.807M $1.367M -$37.62M
YoY Change -131.27% -103.63% -778.99%
Cash From Investing Activities $2.702M $1.217M -$37.67M
YoY Change -129.45% -103.23% -820.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.00K -11.00K -11.57M
YoY Change -1950.0% -99.9% 4031.07%
NET CHANGE
Cash From Operating Activities -19.11M -7.817M -10.61M
Cash From Investing Activities 2.702M 1.217M -37.67M
Cash From Financing Activities 37.00K -11.00K -11.57M
Net Change In Cash -16.38M -6.611M -59.84M
YoY Change -37.62% -88.95% 731.18%
FREE CASH FLOW
Cash From Operating Activities -$19.11M -$7.817M -$10.61M
Capital Expenditures $105.0K -$150.0K -$56.00K
Free Cash Flow -$19.22M -$7.667M -$10.55M
YoY Change 13.9% -27.33% -10.9%

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us-gaap Nature Of Operations
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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 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 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 September 30, 2022, the Company had cash, cash equivalents and marketable securities of $248.1 million and an accumulated deficit of $654.7 million.  Since inception, the Company has incurred net losses and negative cash flows from its operations.  Prior to the acquisition of Confluence, 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 zunsemetinib (ATI-450), ATI-1777 and ATI-2138, 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 the potential worsening of global economic conditions, including inflationary pressures, and the recent disruptions to, and volatility in, the credit and financial markets in the United States and worldwide resulting from the COVID-19 pandemic and geopolitical tensions.  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;">The Company has 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>
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
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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, contingent consideration and the valuation of stock-based awards.  Estimates are periodically reviewed in light of changes in circumstances, facts and experience.  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><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></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;background:#ffffff;margin:0pt;"><b style="color:#242424;font-weight:bold;">Reclassifications</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;background:#ffffff;margin:0pt;"><span style="color:#242424;font-size:10pt;margin-bottom:5pt;margin-top:5pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;background:#ffffff;margin:0pt;"><span style="color:#242424;">Certain prior year amounts have been reclassified to conform to the current year financial statement presentation.</span></p>
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acrs Common Stock Number Of Votes Per Share
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CY2022Q3 us-gaap Dividends Payable Current And Noncurrent
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us-gaap Number Of Reportable Segments
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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P6Y9M18D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
13710000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2334750
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.27
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
85672
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.40
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1115000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
853864
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
18.70
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5187664
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.11
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
15376000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5187664
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
16.11
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y4M24D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
15376000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2307984
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
17.35
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y2M12D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
9345000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.83
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6772848
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5209688
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4188000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3702000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10226000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10209000
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
25500000
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
18300000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-19952000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-21146000
us-gaap Net Income Loss
NetIncomeLoss
-59273000
us-gaap Net Income Loss
NetIncomeLoss
-68061000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66675337
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61219321
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64718008
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55215037
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.30
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
766000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
693000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1617000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2151000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2383000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2844000
CY2021Q3 acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
300000
CY2022Q3 acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
300000
acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
800000
acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
800000
CY2022Q3 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
26000000.0
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
28400000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
29711000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
16676000
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
0
CY2021Q3 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
0
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
0
CY2022Q3 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
0
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19018000
CY2022Q3 us-gaap Cost Of Revenue
CostOfRevenue
923000
CY2022Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23656000
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5813000
CY2022Q3 acrs Licensing Expenses
LicensingExpenses
7300000
CY2022Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
2200000
CY2022Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-20874000
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1659000
CY2021Q3 us-gaap Cost Of Revenue
CostOfRevenue
1099000
CY2021Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13976000
CY2021Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5979000
CY2021Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
900000
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
21999000
us-gaap Cost Of Revenue
CostOfRevenue
3146000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
56741000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17987000
acrs Licensing Expenses
LicensingExpenses
7300000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-2400000
us-gaap Operating Income Loss
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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5260000
us-gaap Cost Of Revenue
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3564000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
22139000
us-gaap Operating Income Loss
OperatingIncomeLoss
-66830000

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