2022 Q4 Form 10-Q Financial Statement

#000095017022023237 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $7.022M $7.299M $6.362M
YoY Change -7.34% 14.73% 42.01%
% of Gross Profit
Research & Development $25.20M $29.38M $18.21M
YoY Change 20.59% 61.32% 241.85%
% of Gross Profit
Depreciation & Amortization $105.0K $95.00K $6.000K
YoY Change 208.82% 1483.33% -40.0%
% of Gross Profit
Operating Expenses $32.22M $36.68M $18.21M
YoY Change 13.16% 101.39% 85.69%
Operating Profit -$36.68M -$18.21M
YoY Change 101.39% 85.69%
Interest Expense $1.807M $1.370M -$4.000K
YoY Change -60333.33% -34350.0% -98.23%
% of Operating Profit
Other Income/Expense, Net -$233.0K -$9.000K $14.00K
YoY Change -1556.25% -164.29% -112.61%
Pretax Income -$30.65M -$35.32M -$24.57M
YoY Change 7.68% 43.78% 142.12%
Income Tax $64.00K $0.00
% Of Pretax Income
Net Earnings -$30.71M -$35.32M -$24.57M
YoY Change 7.99% 43.78% 141.29%
Net Earnings / Revenue
Basic Earnings Per Share -$0.87 -$0.61
Diluted Earnings Per Share -$0.75 -$0.87 -$608.1K
COMMON SHARES
Basic Shares Outstanding 40.76M 40.75M 40.40M
Diluted Shares Outstanding 40.75M 40.40M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $266.2M $284.9M $385.1M
YoY Change -26.8% -26.03% 48.42%
Cash & Equivalents $48.82M $49.05M $385.1M
Short-Term Investments $217.4M $235.9M
Other Short-Term Assets $4.762M $5.899M $3.814M
YoY Change 42.06% 54.67% 58.92%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $271.0M $290.8M $389.0M
YoY Change -26.17% -25.24% 48.23%
LONG-TERM ASSETS
Property, Plant & Equipment $3.889M $2.336M $562.0K
YoY Change 333.56% 315.66% 1148.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $16.70M $8.217M
YoY Change
Other Assets $14.93M $16.33M $10.20M
YoY Change 21.72% 60.03%
Total Long-Term Assets $35.52M $26.88M $10.77M
YoY Change 169.83% 149.71% 23822.22%
TOTAL ASSETS
Total Short-Term Assets $271.0M $290.8M $389.0M
Total Long-Term Assets $35.52M $26.88M $10.77M
Total Assets $306.5M $317.7M $399.7M
YoY Change -19.38% -20.52% 52.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.073M $5.880M $3.683M
YoY Change 114.48% 59.65% 159.18%
Accrued Expenses $19.79M $18.97M $8.376M
YoY Change 78.27% 126.48% 222.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $393.0K $429.0K
YoY Change -100.0% -8.39% -83.31%
Total Short-Term Liabilities $28.33M $25.24M $12.49M
YoY Change 85.19% 102.14% 73.52%
LONG-TERM LIABILITIES
Long-Term Debt $9.389M $0.00 $385.0K
YoY Change 3253.21% -100.0% -87.93%
Other Long-Term Liabilities $5.311M $5.483M $2.068M
YoY Change 188.8% 165.14% 4300.0%
Total Long-Term Liabilities $14.70M $5.483M $2.068M
YoY Change 699.35% 165.14% -36.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.33M $25.24M $12.49M
Total Long-Term Liabilities $14.70M $5.483M $2.068M
Total Liabilities $43.03M $30.73M $14.56M
YoY Change 151.11% 111.09% 39.52%
SHAREHOLDERS EQUITY
Retained Earnings -$325.5M -$294.8M -$173.5M
YoY Change 61.13% 69.84%
Common Stock $589.8M $583.2M $558.7M
YoY Change 4.38% 4.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $263.5M $287.0M $385.2M
YoY Change
Total Liabilities & Shareholders Equity $306.5M $317.7M $399.7M
YoY Change -19.38% -20.52% 52.34%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$30.71M -$35.32M -$24.57M
YoY Change 7.99% 43.78% 141.29%
Depreciation, Depletion And Amortization $105.0K $95.00K $6.000K
YoY Change 208.82% 1483.33% -40.0%
Cash From Operating Activities -$20.67M -$30.88M -$24.86M
YoY Change 18.18% 24.25% 160.55%
INVESTING ACTIVITIES
Capital Expenditures $389.0K -$192.0K -$398.0K
YoY Change -108.61% -51.76% 3880.0%
Acquisitions
YoY Change
Other Investing Activities $11.33M $13.89M $0.00
YoY Change -100.0%
Cash From Investing Activities $10.94M $13.69M -$398.0K
YoY Change -342.19% -3540.95% -163.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.494M -136.0K 439.0K
YoY Change 1711.83% -130.98% -99.74%
NET CHANGE
Cash From Operating Activities -20.67M -30.88M -24.86M
Cash From Investing Activities 10.94M 13.69M -398.0K
Cash From Financing Activities 9.494M -136.0K 439.0K
Net Change In Cash -232.0K -17.32M -24.81M
YoY Change -98.92% -30.19% -115.38%
FREE CASH FLOW
Cash From Operating Activities -$20.67M -$30.88M -$24.86M
Capital Expenditures $389.0K -$192.0K -$398.0K
Free Cash Flow -$21.06M -$30.69M -$24.46M
YoY Change 62.35% 25.48% 156.64%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashAndCashEquivalentsAtCarryingValue
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CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Reclassifications</span></p><p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain amounts in the prior period have been reclassified to conform to the current period presentation.</span></p>
us-gaap Use Of Estimates
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<p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. On an ongoing basis, management evaluates its estimates, including those related to the estimated useful lives of long-lived assets, clinical trial accruals, fair value of assets and liabilities, income taxes and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could materially differ from those estimates.</span></p>
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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CY2022Q3 us-gaap Cash
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CY2021Q4 us-gaap Cash
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CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
357181000
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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CY2022Q3 us-gaap Available For Sale Securities Debt Securities
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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alxo Fair Value Assets And Liabilities Transfers Amount
FairValueAssetsAndLiabilitiesTransfersAmount
0
alxo Fair Value Assets And Liabilities Transfers Amount
FairValueAssetsAndLiabilitiesTransfersAmount
0
CY2021Q3 alxo Fair Value Assets And Liabilities Transfers Amount
FairValueAssetsAndLiabilitiesTransfersAmount
0
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
897000
CY2022Q3 us-gaap Finance Lease Right Of Use Asset
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
100000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
200000
CY2021Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
0
us-gaap Depreciation And Amortization
DepreciationAndAmortization
0
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
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0
CY2022Q3 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
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CY2022Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
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0
us-gaap Impairment Of Investments
ImpairmentOfInvestments
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CY2022Q3 us-gaap Impairment Of Investments
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CY2022Q3 us-gaap Deposits Assets Noncurrent
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144000
CY2021Q4 us-gaap Deposits Assets Noncurrent
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144000
CY2022Q3 us-gaap Restricted Cash Noncurrent
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CY2022Q3 us-gaap Interest Receivable Noncurrent
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CY2021Q4 us-gaap Other Assets Noncurrent
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CY2021Q4 alxo Accrued Contract Manufacturing Current
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CY2022Q3 us-gaap Employee Related Liabilities Current
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CY2021Q4 alxo Accrued Clinical And Non Clinical Costs Current
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CY2022Q3 us-gaap Operating Lease Liability Current
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CY2021Q4 us-gaap Operating Lease Liability Current
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313000
CY2022Q3 us-gaap Accrued Professional Fees Current
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CY2021Q4 us-gaap Finance Lease Liability Current
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CY2022Q3 us-gaap Other Accrued Liabilities Current
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CY2021Q4 us-gaap Other Accrued Liabilities Current
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CY2022Q3 us-gaap Accrued Liabilities And Other Liabilities
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CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
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CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2022Q3 us-gaap Operating Lease Liability
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CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P6Y6M
CY2022Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
1246000
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y10M24D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.084
CY2022Q3 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
288000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
1273000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4684000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1812000
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.017
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
1311000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
1193000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
3000000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8320000
CY2022Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
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CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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2097000
CY2022Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
3000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6223000
CY2022Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
393000
CY2022Q3 alxo Operating Lease Liability Current Including Payable And Accrued Liabilities Due To Related Party
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CY2022Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
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CY2022Q3 us-gaap Operating Lease Liability Noncurrent
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CY2022Q3 us-gaap Operating Lease Cost
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CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
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us-gaap Operating Lease Cost
OperatingLeaseCost
840000
us-gaap Operating Lease Cost
OperatingLeaseCost
229000
CY2022Q3 alxo Variable Lease Cost And Other Net
VariableLeaseCostAndOtherNet
60000
CY2021Q3 alxo Variable Lease Cost And Other Net
VariableLeaseCostAndOtherNet
22000
alxo Variable Lease Cost And Other Net
VariableLeaseCostAndOtherNet
203000
alxo Variable Lease Cost And Other Net
VariableLeaseCostAndOtherNet
61000
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
3000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
86000
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
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CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
112000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
336000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
257000
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
2000
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
7000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
10000
CY2022Q3 us-gaap Lease Cost
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497000
CY2021Q3 us-gaap Lease Cost
LeaseCost
269000
us-gaap Lease Cost
LeaseCost
1472000
us-gaap Lease Cost
LeaseCost
557000
us-gaap Operating Lease Payments
OperatingLeasePayments
681000
us-gaap Operating Lease Payments
OperatingLeasePayments
141000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
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us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
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us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
281000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
177000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
40748290
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
40587067
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
11210565
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6207000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4191000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
17544000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8228000
CY2022Q3 us-gaap Net Income Loss
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-35320000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-24566000
us-gaap Net Income Loss
NetIncomeLoss
-92773000
us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40747026
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40747026
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40396188
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40396188
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40684172
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40684172
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40234159
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40234159
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.87
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.87
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.61
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.61
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.28
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.37
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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7106281
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4909185
CY2022Q3 alxo Number Of Pending Or Threatened Litigation
NumberOfPendingOrThreatenedLitigation
0

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