$ACRS
Aclaris Therapeutics, Inc.

2023 Q4 Form 10-Q Financial Statement

#000155837023017660 Filed on November 06, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $17.57M $9.282M
YoY Change 126.62% -51.19%
Cost Of Revenue $6.428M $848.0K
YoY Change 324.57% -8.13%
Gross Profit $11.14M $8.434M
YoY Change 78.59% -53.39%
Gross Profit Margin 63.41% 90.86%
Selling, General & Admin $8.214M $7.090M
YoY Change 14.95% 21.97%
% of Gross Profit 73.72% 84.06%
Research & Development $26.65M $23.88M
YoY Change 26.45% 0.93%
% of Gross Profit 239.15% 283.09%
Depreciation & Amortization $228.0K $200.0K
YoY Change 20.0% 0.0%
% of Gross Profit 2.05% 2.37%
Operating Expenses $8.560M $23.88M
YoY Change -69.66% 0.93%
Operating Profit $2.582M -$31.58M
YoY Change -111.75% 51.27%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $2.189M $2.316M
YoY Change 51.59% 151.19%
Pretax Income -$1.858M -$29.26M
YoY Change -93.28% 46.65%
Income Tax -$367.0K
% Of Pretax Income
Net Earnings -$1.491M -$29.26M
YoY Change -94.6% 46.66%
Net Earnings / Revenue -8.49% -315.24%
Basic Earnings Per Share -$0.41
Diluted Earnings Per Share -$0.02 -$0.41
COMMON SHARES
Basic Shares Outstanding 70.84M 70.79M
Diluted Shares Outstanding 70.81M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $119.1M $103.1M
YoY Change -45.26% -58.46%
Cash & Equivalents $39.88M $39.04M
Short-Term Investments $79.23M $64.01M
Other Short-Term Assets $9.452M $19.70M
YoY Change -29.96% 148.93%
Inventory
Prepaid Expenses
Receivables $298.0K $346.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $128.9M $123.1M
YoY Change -44.35% -52.03%
LONG-TERM ASSETS
Property, Plant & Equipment $1.620M $1.764M
YoY Change 47.41% 54.06%
Goodwill
YoY Change
Intangibles $269.0K $6.917M
YoY Change -96.14% -1.07%
Long-Term Investments $62.77M $83.90M
YoY Change 412.75%
Other Assets $3.889M $2.661M
YoY Change 42.35% -8.93%
Total Long-Term Assets $68.55M $95.29M
YoY Change 197.44% 761.61%
TOTAL ASSETS
Total Short-Term Assets $128.9M $123.1M
Total Long-Term Assets $68.55M $95.29M
Total Assets $197.4M $218.4M
YoY Change -22.46% -18.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.878M $9.648M
YoY Change -14.23% 25.84%
Accrued Expenses $19.45M $15.16M
YoY Change 123.49% 65.61%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.95M $27.32M
YoY Change 41.09% 38.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.074M $1.834M
YoY Change 95.8% 11.97%
Total Long-Term Liabilities $3.074M $1.834M
YoY Change 95.8% 11.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.95M $27.32M
Total Long-Term Liabilities $3.074M $1.834M
Total Liabilities $40.23M $62.02M
YoY Change -29.4% 29.77%
SHAREHOLDERS EQUITY
Retained Earnings -$770.8M -$769.3M
YoY Change 12.97% 17.5%
Common Stock $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 $157.2M $156.3M
YoY Change
Total Liabilities & Shareholders Equity $197.4M $218.4M
YoY Change -22.46% -18.41%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.491M -$29.26M
YoY Change -94.6% 46.66%
Depreciation, Depletion And Amortization $228.0K $200.0K
YoY Change 20.0% 0.0%
Cash From Operating Activities -$6.761M -$24.55M
YoY Change -64.63% 214.06%
INVESTING ACTIVITIES
Capital Expenditures $441.0K $90.00K
YoY Change 320.0% -160.0%
Acquisitions
YoY Change
Other Investing Activities $7.991M $32.62M
YoY Change 184.68% 2286.25%
Cash From Investing Activities $7.550M $32.53M
YoY Change 179.42% 2572.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 49.00K -80.00K
YoY Change 32.43% 627.27%
NET CHANGE
Cash From Operating Activities -6.761M -24.55M
Cash From Investing Activities 7.550M 32.53M
Cash From Financing Activities 49.00K -80.00K
Net Change In Cash 838.0K 7.900M
YoY Change -105.12% -219.5%
FREE CASH FLOW
Cash From Operating Activities -$6.761M -$24.55M
Capital Expenditures $441.0K $90.00K
Free Cash Flow -$7.202M -$24.64M
YoY Change -62.53% 221.38%

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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 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. and its wholly owned subsidiaries 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, 2023, the Company had cash, cash equivalents and marketable securities of $187.0 million and an accumulated deficit of $769.3 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, ATI-2138 and ATI-2231, 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;margin:0pt;"><span style="display:inline-block;text-align:left;text-indent:0pt;width:36pt;"></span><span style="background:#ffffff;">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 caused by a variety of factors including geopolitical tensions, rising interest rates, the closure of financial institutions and inflationary pressures. 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. </span></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 Codification (“ASC”) Subtopic 205-40, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, 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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<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>
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us-gaap Prior Period Reclassification Adjustment Description
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<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;">Reclassifications</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-weight:bold;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’s financial statement presentation.</p>
us-gaap Concentration Risk Credit Risk
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<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;">Concentration of Credit Risk and of Significant Suppliers</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company holds all cash, cash equivalents and marketable securities balances at three accredited financial institutions, the majority of which are in amounts that exceed or are not subject to federally insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. </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><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The Company is dependent on third-party manufacturers to supply drug product, including all underlying components, for its research and development activities, including preclinical and clinical testing. These activities could be adversely affected by a significant interruption in the supply of active pharmaceutical ingredients or other components.</p>
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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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228990
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
15.71
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7122455
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.02
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M6D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
3680000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
7122455
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
16.02
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
3680000
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3190762
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
16.70
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P4Y8M12D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
3323000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.04
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5948000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4188000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19276000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10226000
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
35600000
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
21700000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-29261000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-19952000
us-gaap Net Income Loss
NetIncomeLoss
-86990000
us-gaap Net Income Loss
NetIncomeLoss
-59273000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
70807934
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66675337
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
69452495
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
64718008
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.30
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.92
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8829645
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6772848
CY2023Q3 us-gaap Net Rentable Area
NetRentableArea
33019
CY2020Q4 acrs Area Of Property Sub Subleased
AreaOfPropertySubSubleased
8115
CY2023Q2 us-gaap Net Rentable Area
NetRentableArea
11564
CY2019Q1 us-gaap Net Rentable Area
NetRentableArea
20433
CY2023Q1 acrs Additional Area Of Office Space Leased
AdditionalAreaOfOfficeSpaceLeased
6261
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
13679000
us-gaap Cost Of Revenue
CostOfRevenue
2698000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
71738000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
24198000
acrs Licensing Expenses
LicensingExpenses
8955000
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-600000
us-gaap Operating Income Loss
OperatingIncomeLoss
-93310000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
310000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
684000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1834000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1570000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2144000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2254000
CY2023Q3 acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
200000
CY2022Q3 acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
300000
acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
700000
acrs Operating Leases Amortization Expense
OperatingLeasesAmortizationExpense
800000
CY2023Q3 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
32500000
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
33100000
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
us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
0
CY2023Q3 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
0
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
9282000
CY2023Q3 us-gaap Cost Of Revenue
CostOfRevenue
848000
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23876000
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7091000
CY2023Q3 acrs Licensing Expenses
LicensingExpenses
7344000
CY2023Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
1700000
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-31577000
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
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
OperatingIncomeLoss
-60775000

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