2018 Q3 Form 10-Q Financial Statement
#000137005318000037 Filed on August 07, 2018
Income Statement
Concept | 2018 Q3 | 2018 Q2 | 2017 Q2 |
---|---|---|---|
Revenue | $5.000M | $0.00 | $7.000M |
YoY Change | -100.0% | 19.66% | |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $4.000M | $3.830M | $2.350M |
YoY Change | 67.36% | 62.98% | 104.35% |
% of Gross Profit | |||
Research & Development | $17.88M | $10.58M | $7.205M |
YoY Change | 167.03% | 46.88% | 208.57% |
% of Gross Profit | |||
Depreciation & Amortization | $90.00K | $70.00K | $50.00K |
YoY Change | 80.0% | 40.0% | -16.67% |
% of Gross Profit | |||
Operating Expenses | $21.89M | $14.42M | $9.555M |
YoY Change | 140.86% | 50.86% | 174.02% |
Operating Profit | -$16.89M | -$14.42M | -$2.555M |
YoY Change | 85.84% | 464.19% | -208.13% |
Interest Expense | $400.0K | $436.0K | $439.0K |
YoY Change | -11.5% | -0.68% | 278.45% |
% of Operating Profit | |||
Other Income/Expense, Net | $929.0K | $797.0K | -$129.0K |
YoY Change | -31066.67% | -717.83% | 214.63% |
Pretax Income | -$15.96M | -$13.62M | -$2.680M |
YoY Change | 75.56% | 408.13% | -215.52% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$15.96M | -$13.62M | -$2.684M |
YoY Change | 75.56% | 407.38% | -215.59% |
Net Earnings / Revenue | -319.16% | -38.34% | |
Basic Earnings Per Share | -$0.66 | -$0.57 | -$0.13 |
Diluted Earnings Per Share | -$0.66 | -$0.57 | -$0.13 |
COMMON SHARES | |||
Basic Shares Outstanding | 24.04M shares | 23.50M shares | 20.27M shares |
Diluted Shares Outstanding | 20.27M shares |
Balance Sheet
Concept | 2018 Q3 | 2018 Q2 | 2017 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $493.8M | $267.9M | $106.4M |
YoY Change | 326.72% | 151.89% | 110.2% |
Cash & Equivalents | $293.4M | $57.06M | $30.75M |
Short-Term Investments | $200.4M | $210.9M | $75.61M |
Other Short-Term Assets | $4.000M | $3.800M | $3.900M |
YoY Change | 29.03% | -2.56% | 333.33% |
Inventory | |||
Prepaid Expenses | |||
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $503.0M | $271.8M | $115.8M |
YoY Change | 318.05% | 134.63% | 110.25% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $1.344M | $1.086M | $543.0K |
YoY Change | 161.99% | 100.0% | 8.6% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $18.60M | $32.70M | $13.90M |
YoY Change | 1760.0% | 135.25% | |
Other Assets | $79.00K | $322.0K | $100.0K |
YoY Change | -21.0% | 222.0% | -96.55% |
Total Long-Term Assets | $20.10M | $34.20M | $14.56M |
YoY Change | 1142.21% | 134.86% | 328.26% |
TOTAL ASSETS | |||
Total Short-Term Assets | $503.0M | $271.8M | $115.8M |
Total Long-Term Assets | $20.10M | $34.20M | $14.56M |
Total Assets | $523.1M | $306.0M | $130.4M |
YoY Change | 328.98% | 134.66% | 122.92% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $6.180M | $4.426M | $3.724M |
YoY Change | 141.69% | 18.85% | 77.33% |
Accrued Expenses | $7.145M | $4.837M | $3.230M |
YoY Change | 98.25% | 49.75% | 11.38% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $7.500M | $7.500M | $3.100M |
YoY Change | 50.0% | 141.94% | 210.0% |
Total Short-Term Liabilities | $20.87M | $16.79M | $10.08M |
YoY Change | 86.8% | 66.58% | 14.53% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $2.400M | $4.100M | $11.00M |
YoY Change | -74.19% | -62.73% | 175.0% |
Other Long-Term Liabilities | $200.0K | $100.0K | $200.0K |
YoY Change | 100.0% | -50.0% | -84.62% |
Total Long-Term Liabilities | $2.600M | $4.200M | $11.20M |
YoY Change | -72.34% | -62.5% | 111.32% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $20.87M | $16.79M | $10.08M |
Total Long-Term Liabilities | $2.600M | $4.200M | $11.20M |
Total Liabilities | $23.40M | $21.00M | $21.20M |
YoY Change | 13.59% | -0.94% | 50.35% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$129.7M | -$113.7M | -$69.10M |
YoY Change | 65.85% | 64.54% | |
Common Stock | $27.00K | $24.00K | $20.00K |
YoY Change | 35.0% | 20.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $499.7M | $285.0M | $109.2M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $523.1M | $306.0M | $130.4M |
YoY Change | 328.98% | 134.66% | 122.92% |
Cashflow Statement
Concept | 2018 Q3 | 2018 Q2 | 2017 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$15.96M | -$13.62M | -$2.684M |
YoY Change | 75.56% | 407.38% | -215.59% |
Depreciation, Depletion And Amortization | $90.00K | $70.00K | $50.00K |
YoY Change | 80.0% | 40.0% | -16.67% |
Cash From Operating Activities | -$14.86M | -$8.880M | -$2.640M |
YoY Change | 282.01% | 236.36% | -258.08% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$320.0K | -$310.0K | -$60.00K |
YoY Change | 1500.0% | 416.67% | 500.0% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $24.94M | -$2.760M | -$62.35M |
YoY Change | -5189.8% | -95.57% | |
Cash From Investing Activities | $24.62M | -$3.070M | -$62.42M |
YoY Change | -5124.49% | -95.08% | 624100.0% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $227.5M | ||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 226.6M | -480.0K | -930.0K |
YoY Change | 75433.33% | -48.39% | 144.74% |
NET CHANGE | |||
Cash From Operating Activities | -14.86M | -8.880M | -2.640M |
Cash From Investing Activities | 24.62M | -3.070M | -62.42M |
Cash From Financing Activities | 226.6M | -480.0K | -930.0K |
Net Change In Cash | 236.4M | -12.43M | -65.99M |
YoY Change | -5893.14% | -81.16% | -5255.47% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$14.86M | -$8.880M | -$2.640M |
Capital Expenditures | -$320.0K | -$310.0K | -$60.00K |
Free Cash Flow | -$14.54M | -$8.570M | -$2.580M |
YoY Change | 275.71% | 232.17% | -253.57% |
Facts In Submission
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16790000 | USD |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
79766000 | USD | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1860000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-89506000 | USD | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-916000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10740000 | USD | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-21356000 | USD | |
CY2017Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2684000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-14119000 | USD | |
CY2018Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-13618000 | USD |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-28704000 | USD | |
CY2017Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-129000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1576000 | USD | |
CY2018Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
797000 | USD |
us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
1468000 | USD | |
CY2017Q4 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
6875000 | USD |
CY2018Q2 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
7500000 | USD |
CY2017Q4 | us-gaap |
Notes Payable To Bank Noncurrent
NotesPayableToBankNoncurrent
|
7553000 | USD |
CY2018Q2 | us-gaap |
Notes Payable To Bank Noncurrent
NotesPayableToBankNoncurrent
|
4120000 | USD |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | segment | |
CY2017Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
9555000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
19543000 | USD | |
CY2018Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
14415000 | USD |
us-gaap |
Operating Expenses
OperatingExpenses
|
30172000 | USD | |
CY2017Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2555000 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12543000 | USD | |
CY2018Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-14415000 | USD |
CY2018Q2 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
3001000 | USD |
CY2018Q2 | us-gaap |
Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
|
0 | USD |
CY2018Q2 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
726000 | USD |
CY2018Q2 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
968000 | USD |
CY2017Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-30172000 | USD | |
CY2018Q2 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
938000 | USD |
CY2018Q2 | us-gaap |
Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
|
0 | USD |
CY2018Q2 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
369000 | USD |
CY2017Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
326000 | USD |
CY2018Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
314000 | USD |
CY2017Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
46000 | USD |
CY2018Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
322000 | USD |
CY2017Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-46000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-59000 | USD | |
CY2018Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
124000 | USD |
us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-250000 | USD | |
CY2017Q2 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-46000 | USD |
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-59000 | USD | |
CY2018Q2 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
124000 | USD |
us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-250000 | USD | |
CY2017Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
17000 | USD |
CY2018Q2 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
27000 | USD |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-303000 | USD | |
us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-317000 | USD | |
CY2017Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
29000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
253000 | USD | |
CY2018Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-64000 | USD |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-127000 | USD | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
1485000 | USD | |
us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
280000 | USD | |
us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
89353000 | USD | |
us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
90411000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
153000 | USD | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
536000 | USD | |
CY2017Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2018Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2018Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2017Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2017Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
0 | shares |
CY2018Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2018Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
CY2017Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
11520698 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2018Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2017Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2018Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P6Y3M17D | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
24784 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
57.47 | ||
CY2018Q2 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
CY2017Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2688000 | USD |
CY2018Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
3758000 | USD |
CY2017Q4 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
194700000 | USD |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
80213000 | USD | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD | |
us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
|
0 | USD | |
us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
|
90031000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
503000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1469000 | USD | |
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1500000 | USD | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
535000 | USD | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
76000 | USD | |
CY2017Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
4643000 | USD |
CY2018Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
5159000 | USD |
CY2017Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
665000 | USD |
CY2018Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
1086000 | USD |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
0 | USD | |
us-gaap |
Repayments Of Notes Payable
RepaymentsOfNotesPayable
|
3125000 | USD | |
CY2017Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7205000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
15140000 | USD | |
CY2018Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
10583000 | USD |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
22393000 | USD | |
CY2017Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
60000 | USD |
CY2018Q2 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
60000 | USD |
CY2017Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-85034000 | USD |
CY2018Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-113738000 | USD |
CY2018Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-113700000 | USD |
CY2017Q2 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
7000000 | USD |
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
7000000 | USD | |
CY2018Q2 | us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
0 | USD |
us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
0 | USD | |
CY2018Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1400654 | shares |
CY2018Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
8.63 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
961141 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
274457 | shares | |
CY2018Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
128278000 | USD |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2425903 | shares |
CY2018Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2455234 | shares |
CY2017Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
12.03 | |
CY2018Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
22.50 | |
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
6.67 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
105.48 | ||
CY2018Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
87855000 | USD |
CY2017Q4 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
68.50 | |
CY2017Q4 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
3000000 | shares |
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
220342 | shares | |
CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
307581000 | USD |
CY2018Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
284979000 | USD |
CY2017Q1 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.1429 | |
us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
0 | USD | |
us-gaap |
Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
|
255000 | USD | |
CY2017Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
20271000 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
17797000 | shares | |
CY2018Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
23932000 | shares |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
23867000 | shares | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of the Business </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AnaptysBio, Inc. (“we,” “us,” “our,” or the “Company”) was incorporated in the state of Delaware in November 2005. We are a biotechnology company developing first-in-class antibody product candidates focused on unmet medical needs in inflammation. We develop our product candidates using our proprietary, antibody discovery technology platform, which is designed to replicate, in vitro, the natural process of antibody generation. We currently generate revenue from milestones achieved under our collaborative research and development arrangements. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Since our inception, we have devoted our primary effort to raising capital and research and development activities, and at </font><font style="font-family:inherit;font-size:10pt;">June 30, 2018</font><font style="font-family:inherit;font-size:10pt;"> have an accumulated deficit of </font><font style="font-family:inherit;font-size:10pt;">$113.7 million</font><font style="font-family:inherit;font-size:10pt;">. Through </font><font style="font-family:inherit;font-size:10pt;">June 30, 2018</font><font style="font-family:inherit;font-size:10pt;">, our financial support has been provided primarily from the sale of our common and preferred stock, as well as through funds received under our collaborative research and development agreements, proceeds from our Term Loans as discussed in Note 5 below, and the issuance of convertible debt. Going forward, as we continue our expansion, we may seek additional financing and/or strategic investments. However, there can be no assurance that any additional financing or strategic investments will be available to us on acceptable terms, if at all. If events or circumstances occur such that we do not obtain additional funding, we will most likely be required to reduce our plans and/or certain discretionary spending, which could have a material adverse effect on our ability to achieve our intended business objectives. Management believes its currently available resources will provide sufficient funds to enable the Company to meet its operating plans for at least the next twelve months. The accompanying consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.</font></div><div style="line-height:120%;padding-top:24px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Public Offerings and Related Transactions</font></div><div style="line-height:120%;padding-top:24px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-style:italic;font-weight:bold;">Initial Public Offering</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:33px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">On January 31, 2017, we completed an initial public offering, or IPO, selling </font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">5,750,000</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> shares of common stock at </font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">$15.00</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> per share. Proceeds from our initial public offering net of underwriting discounts and commissions were </font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">$80.2 million</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">.</font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:33px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">In addition, each of the following occurred in connection with the completion of the IPO on January 31, 2017:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:66px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:30px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the conversion of all outstanding shares of convertible preferred stock into </font><font style="font-family:inherit;font-size:10pt;">11,520,698</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:65px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:32px;"><font style="font-family:inherit;font-size:10pt;">•</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the conversion of warrants to purchase </font><font style="font-family:inherit;font-size:10pt;">377,195</font><font style="font-family:inherit;font-size:10pt;"> shares of convertible preferred stock into warrants to purchase </font><font style="font-family:inherit;font-size:10pt;">377,195</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock and the resultant reclassification of the warrant liability to additional paid-in capital.</font></div></td></tr></table><div style="line-height:120%;padding-top:24px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reverse Stock Split </font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:33px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 13, 2017, we amended and restated our certificate of incorporation to effect a </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> for </font><font style="font-family:inherit;font-size:10pt;">seven</font><font style="font-family:inherit;font-size:10pt;"> reverse stock split of every outstanding share of our preferred and common stock. The financial statements and accompanying footnotes have been retroactively restated to reflect the reverse stock split. </font></div><div style="line-height:120%;padding-top:24px;text-align:left;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Follow-on Public Offering </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;text-indent:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 17, 2017, we completed an underwritten public offering selling </font><font style="font-family:inherit;font-size:10pt;">3,000,000</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock. All shares were offered by us at a price to the public of </font><font style="font-family:inherit;font-size:10pt;">$68.50</font><font style="font-family:inherit;font-size:10pt;"> per share. The aggregate net proceeds received by us from the offering were </font><font style="font-family:inherit;font-size:10pt;">$194.7 million</font><font style="font-family:inherit;font-size:10pt;">, net of underwriting discounts and commissions. As part of the underwritten public offering, on November 14, 2017, the underwriters exercised an additional </font><font style="font-family:inherit;font-size:10pt;">271,380</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock at a discounted price to the public of </font><font style="font-family:inherit;font-size:10pt;">$68.50</font><font style="font-family:inherit;font-size:10pt;"> per share for aggregate net proceeds of </font><font style="font-family:inherit;font-size:10pt;">$17.6 million</font><font style="font-family:inherit;font-size:10pt;">, net of underwriting discounts and commissions.</font></div></div> | ||
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Use Of Estimates
UseOfEstimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-align:left;padding-left:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates </font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:33px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. We base our estimates and assumptions on historical experience when available and on various factors that we believe to be reasonable under the circumstances. We evaluate our estimates and assumptions on an ongoing basis. Our actual results could differ from these estimates under different assumptions or conditions.</font></div></div> |