2023 Q4 Form 10-K Financial Statement
#000155837024002406 Filed on March 05, 2024
Income Statement
Concept | 2023 Q4 | 2023 | 2022 Q4 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $8.201M | $24.58M | $2.941M |
YoY Change | 178.85% | 735.74% | |
% of Gross Profit | |||
Research & Development | $28.95M | $68.42M | $27.79M |
YoY Change | 4.2% | 146.25% | |
% of Gross Profit | |||
Depreciation & Amortization | |||
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $37.16M | $93.00M | $30.73M |
YoY Change | 20.92% | 202.68% | |
Operating Profit | -$93.00M | ||
YoY Change | |||
Interest Expense | $5.420M | $9.018M | $92.00K |
YoY Change | 5791.3% | 9702.17% | |
% of Operating Profit | |||
Other Income/Expense, Net | $9.018M | -$9.150M | |
YoY Change | -198.56% | ||
Pretax Income | -$31.74M | -$83.99M | -$39.79M |
YoY Change | -20.23% | 111.1% | |
Income Tax | $0.00 | ||
% Of Pretax Income | |||
Net Earnings | -$31.74M | -$83.99M | -$39.79M |
YoY Change | -20.23% | 111.1% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$3.36 | ||
Diluted Earnings Per Share | -$0.64 | -$3.36 | -$0.84 |
COMMON SHARES | |||
Basic Shares Outstanding | 25.01M | ||
Diluted Shares Outstanding | 25.01M |
Balance Sheet
Concept | 2023 Q4 | 2023 | 2022 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $395.5M | $395.5M | |
YoY Change | 160.36% | ||
Cash & Equivalents | $118.3M | $118.3M | $151.9M |
Short-Term Investments | $277.1M | $277.1M | |
Other Short-Term Assets | $1.214M | $2.950M | $57.00K |
YoY Change | 2029.82% | 1687.88% | |
Inventory | |||
Prepaid Expenses | $1.736M | $108.0K | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $398.4M | $398.4M | $152.1M |
YoY Change | 162.02% | 162.02% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $377.0K | $2.594M | |
YoY Change | |||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $401.0K | $401.0K | |
YoY Change | |||
Total Long-Term Assets | $2.995M | $2.995M | $0.00 |
YoY Change | |||
TOTAL ASSETS | |||
Total Short-Term Assets | $398.4M | $398.4M | $152.1M |
Total Long-Term Assets | $2.995M | $2.995M | $0.00 |
Total Assets | $401.4M | $401.4M | $152.1M |
YoY Change | 163.99% | 163.99% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.143M | $2.143M | $418.0K |
YoY Change | 412.68% | 412.68% | |
Accrued Expenses | $17.31M | $18.42M | $9.562M |
YoY Change | 81.07% | 92.59% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $20.56M | $20.56M | $9.980M |
YoY Change | 105.99% | 105.99% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Other Long-Term Liabilities | $933.0K | $933.0K | |
YoY Change | |||
Total Long-Term Liabilities | $933.0K | $933.0K | |
YoY Change | |||
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $20.56M | $20.56M | $9.980M |
Total Long-Term Liabilities | $933.0K | $933.0K | |
Total Liabilities | $21.49M | $21.49M | $9.980M |
YoY Change | 115.34% | 115.34% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$123.8M | -$39.79M | |
YoY Change | 211.17% | ||
Common Stock | $0.00 | $0.00 | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $379.9M | $379.9M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $401.4M | $401.4M | $152.1M |
YoY Change | 163.99% | 163.99% |
Cashflow Statement
Concept | 2023 Q4 | 2023 | 2022 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$31.74M | -$83.99M | -$39.79M |
YoY Change | -20.23% | 111.1% | |
Depreciation, Depletion And Amortization | |||
YoY Change | |||
Cash From Operating Activities | -$29.75M | -$74.80M | -$16.43M |
YoY Change | 81.13% | 355.35% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | $167.0K | $167.0K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$39.53M | -$273.7M | |
YoY Change | |||
Cash From Investing Activities | -$39.69M | -$273.9M | |
YoY Change | |||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $315.4M | ||
YoY Change | 87.38% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -213.0K | 315.4M | 163.3M |
YoY Change | -100.13% | 87.38% | |
NET CHANGE | |||
Cash From Operating Activities | -29.75M | -74.80M | -16.43M |
Cash From Investing Activities | -39.69M | -273.9M | |
Cash From Financing Activities | -213.0K | 315.4M | 163.3M |
Net Change In Cash | -69.66M | -33.28M | 146.9M |
YoY Change | -147.42% | -121.91% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$29.75M | -$74.80M | -$16.43M |
Capital Expenditures | $167.0K | $167.0K | |
Free Cash Flow | -$29.92M | -$74.97M | |
YoY Change |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
apge |
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Income Extensible List Not Disclosed Flag
FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleListNotDisclosedFlag
|
true | ||
apge |
Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List Not Disclosed Flag
FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleListNotDisclosedFlag
|
true | ||
CY2023 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001974640 | |
CY2023 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2023 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | |
CY2023 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2023 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2022Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
apge |
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Income Extensible List Not Disclosed Flag
FairValueRecurringBasisUnobservableInputReconciliationAssetGainLossStatementOfIncomeExtensibleListNotDisclosedFlag
|
true | ||
apge |
Fair Value Recurring Basis Unobservable Input Reconciliation Liability Gain Loss Statement Of Income Extensible List Not Disclosed Flag
FairValueRecurringBasisUnobservableInputReconciliationLiabilityGainLossStatementOfIncomeExtensibleListNotDisclosedFlag
|
true | ||
CY2023 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001974640 | |
CY2023 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
CY2023 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2023 | |
CY2023 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2023 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023Q2 | dei |
Entity Public Float
EntityPublicFloat
|
0 | |
CY2023Q4 | us-gaap |
Common Unit Issued
CommonUnitIssued
|
0 | |
CY2023Q4 | us-gaap |
Common Unit Outstanding
CommonUnitOutstanding
|
0 | |
CY2022Q4 | us-gaap |
Common Unit Issued
CommonUnitIssued
|
5000000 | |
CY2022Q4 | us-gaap |
Common Unit Outstanding
CommonUnitOutstanding
|
5000000 | |
CY2023Q4 | apge |
Incentive Units Issued
IncentiveUnitsIssued
|
0 | |
CY2023Q4 | apge |
Incentive Units Outstanding
IncentiveUnitsOutstanding
|
0 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2023Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2022Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
0 | |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
0 | |
CY2023Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
||
CY2022Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
||
CY2022Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
65089212 | |
CY2022Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
65089212 | |
CY2022Q4 | us-gaap |
Common Unit Issued
CommonUnitIssued
|
5000000 | |
CY2022Q4 | us-gaap |
Common Unit Outstanding
CommonUnitOutstanding
|
5000000 | |
CY2023 | dei |
Document Type
DocumentType
|
10-K | |
CY2023 | dei |
Document Annual Report
DocumentAnnualReport
|
true | |
CY2023 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-12-31 | |
CY2023 | dei |
Document Transition Report
DocumentTransitionReport
|
false | |
CY2023 | dei |
Entity File Number
EntityFileNumber
|
001-41740 | |
CY2023 | dei |
Entity Registrant Name
EntityRegistrantName
|
Apogee Therapeutics, Inc. | |
CY2023 | dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
221 Crescent St. | |
CY2023 | dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
Building 17 | |
CY2023 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Waltham | |
CY2023 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
MA | |
CY2023 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
02453 | |
CY2023 | dei |
City Area Code
CityAreaCode
|
650 | |
CY2023 | dei |
Local Phone Number
LocalPhoneNumber
|
394-5230 | |
CY2023 | dei |
Security12b Title
Security12bTitle
|
Common Stock, par value $0.00001 per share | |
CY2023 | dei |
Trading Symbol
TradingSymbol
|
APGE | |
CY2023 | dei |
Security Exchange Name
SecurityExchangeName
|
NASDAQ | |
CY2023 | dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No | |
CY2023 | dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | |
CY2023 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2023 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
CY2023 | dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
CY2023 | dei |
Entity Small Business
EntitySmallBusiness
|
true | |
CY2023Q2 | dei |
Entity Public Float
EntityPublicFloat
|
0 | |
CY2023Q4 | us-gaap |
Common Unit Issued
CommonUnitIssued
|
0 | |
CY2023Q4 | us-gaap |
Common Unit Outstanding
CommonUnitOutstanding
|
0 | |
CY2022Q4 | us-gaap |
Common Unit Issued
CommonUnitIssued
|
5000000 | |
CY2022Q4 | us-gaap |
Common Unit Outstanding
CommonUnitOutstanding
|
5000000 | |
CY2023Q4 | apge |
Incentive Units Issued
IncentiveUnitsIssued
|
0 | |
CY2023Q4 | apge |
Incentive Units Outstanding
IncentiveUnitsOutstanding
|
0 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
CY2023Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2022Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
CY2022Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
0 | |
CY2022Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
0 | |
CY2023Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
||
CY2022Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
||
CY2022Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
65089212 | |
CY2022Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
65089212 | |
CY2022Q4 | us-gaap |
Common Unit Issued
CommonUnitIssued
|
5000000 | |
CY2022Q4 | us-gaap |
Common Unit Outstanding
CommonUnitOutstanding
|
5000000 | |
CY2023 | dei |
Document Type
DocumentType
|
10-K | |
CY2023 | dei |
Document Annual Report
DocumentAnnualReport
|
true | |
CY2023 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-12-31 | |
CY2023 | dei |
Document Transition Report
DocumentTransitionReport
|
false | |
CY2023 | dei |
Entity File Number
EntityFileNumber
|
001-41740 | |
CY2023 | dei |
Entity Registrant Name
EntityRegistrantName
|
Apogee Therapeutics, Inc. | |
CY2023 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | |
CY2023 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
88-0588063 | |
CY2023 | dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
221 Crescent St. | |
CY2023 | dei |
Entity Address Address Line2
EntityAddressAddressLine2
|
Building 17 | |
CY2023 | dei |
Entity Address Address Line3
EntityAddressAddressLine3
|
Suite 102b | |
CY2023 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Waltham | |
CY2023 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
MA | |
CY2023 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
02453 | |
CY2023 | dei |
City Area Code
CityAreaCode
|
650 | |
CY2023 | dei |
Local Phone Number
LocalPhoneNumber
|
394-5230 | |
CY2023 | dei |
Security12b Title
Security12bTitle
|
Common Stock, par value $0.00001 per share | |
CY2023 | dei |
Trading Symbol
TradingSymbol
|
APGE | |
CY2023 | dei |
Security Exchange Name
SecurityExchangeName
|
NASDAQ | |
CY2023 | dei |
Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
|
No | |
CY2023 | dei |
Entity Voluntary Filers
EntityVoluntaryFilers
|
No | |
CY2023 | dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | |
CY2023 | dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | |
CY2023 | dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | |
CY2023 | dei |
Entity Small Business
EntitySmallBusiness
|
true | |
CY2023 | dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | |
CY2023 | dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | |
CY2023 | dei |
Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
|
false | |
CY2023 | dei |
Entity Emerging Growth Company
EntityEmergingGrowthCompany
|
true | |
CY2023 | dei |
Entity Ex Transition Period
EntityExTransitionPeriod
|
false | |
CY2023 | dei |
Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
|
false | |
CY2023 | dei |
Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
|
false | |
CY2023 | dei |
Entity Shell Company
EntityShellCompany
|
false | |
CY2023 | dei |
Auditor Firm
AuditorFirmId
|
42 | |
CY2023 | dei |
Auditor Name
AuditorName
|
Ernst & Young LLP | |
CY2023 | dei |
Auditor Location
AuditorLocation
|
Boston, Massachusetts | |
CY2023Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
118316000 | |
CY2022Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
151890000 | |
CY2023Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
277143000 | |
CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2950000 | |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
165000 | |
CY2023Q4 | us-gaap |
Assets Current
AssetsCurrent
|
398409000 | |
CY2022Q4 | us-gaap |
Assets Current
AssetsCurrent
|
152055000 | |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
377000 | |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
2217000 | |
CY2023Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
401000 | |
CY2023Q4 | us-gaap |
Assets
Assets
|
401404000 | |
CY2022Q4 | us-gaap |
Assets
Assets
|
152055000 | |
CY2023Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2143000 | |
CY2022Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
418000 | |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
17314000 | |
CY2022Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
9980000 | |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
933000 | |
CY2023Q4 | us-gaap |
Liabilities
Liabilities
|
21491000 | |
CY2022Q4 | us-gaap |
Liabilities
Liabilities
|
9980000 | |
CY2023Q4 | us-gaap |
Common Unit Authorized
CommonUnitAuthorized
|
0 | |
CY2022Q4 | us-gaap |
Common Unit Authorized
CommonUnitAuthorized
|
5000000 | |
CY2022Q4 | us-gaap |
Common Unit Issuance Value
CommonUnitIssuanceValue
|
2251000 | |
CY2023Q4 | apge |
Incentive Units Authorized
IncentiveUnitsAuthorized
|
0 | |
CY2022Q4 | apge |
Incentive Units Authorized
IncentiveUnitsAuthorized
|
12412473 | |
CY2022Q4 | apge |
Incentive Units Issued
IncentiveUnitsIssued
|
9648374 | |
CY2022Q4 | apge |
Incentive Units Outstanding
IncentiveUnitsOutstanding
|
1625086 | |
CY2022Q4 | apge |
Incentive Units Issuance Value
IncentiveUnitsIssuanceValue
|
2142000 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.00001 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
0 | |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
400000000 | |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
50655671 | |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
48338769 | |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
0 | |
CY2023Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
503354000 | |
CY2023Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
329000 | |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-123770000 | |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-39785000 | |
CY2023 | dei |
Document Fin Stmt Error Correction Flag
DocumentFinStmtErrorCorrectionFlag
|
false | |
CY2023 | dei |
Entity Shell Company
EntityShellCompany
|
false | |
CY2023 | dei |
Auditor Firm
AuditorFirmId
|
42 | |
CY2023 | dei |
Auditor Name
AuditorName
|
Ernst & Young LLP | |
CY2023 | dei |
Auditor Location
AuditorLocation
|
Boston, Massachusetts | |
CY2023Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
118316000 | |
CY2022Q4 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
151890000 | |
CY2023Q4 | us-gaap |
Assets Current
AssetsCurrent
|
398409000 | |
CY2022Q4 | us-gaap |
Assets Current
AssetsCurrent
|
152055000 | |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
377000 | |
CY2023Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
2217000 | |
CY2023Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
401000 | |
CY2023Q4 | us-gaap |
Assets
Assets
|
401404000 | |
CY2022Q4 | us-gaap |
Assets
Assets
|
152055000 | |
CY2023Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2143000 | |
CY2022Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
418000 | |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1101000 | |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
17314000 | |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
9562000 | |
CY2023Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
20558000 | |
CY2022Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
9980000 | |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
933000 | |
CY2023Q4 | us-gaap |
Liabilities
Liabilities
|
21491000 | |
CY2022Q4 | us-gaap |
Liabilities
Liabilities
|
9980000 | |
CY2023Q4 | us-gaap |
Common Unit Authorized
CommonUnitAuthorized
|
0 | |
CY2022Q4 | us-gaap |
Common Unit Authorized
CommonUnitAuthorized
|
5000000 | |
CY2022Q4 | us-gaap |
Common Unit Issuance Value
CommonUnitIssuanceValue
|
2251000 | |
CY2023Q4 | apge |
Incentive Units Authorized
IncentiveUnitsAuthorized
|
0 | |
CY2022Q4 | apge |
Incentive Units Authorized
IncentiveUnitsAuthorized
|
12412473 | |
CY2022Q4 | apge |
Incentive Units Issued
IncentiveUnitsIssued
|
9648374 | |
CY2022Q4 | apge |
Incentive Units Outstanding
IncentiveUnitsOutstanding
|
1625086 | |
CY2022Q4 | apge |
Incentive Units Issuance Value
IncentiveUnitsIssuanceValue
|
2142000 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
CY2023Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.00001 | |
CY2023Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
CY2022Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
0 | |
CY2023Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
400000000 | |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
50655671 | |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
48338769 | |
CY2022Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
0 | |
CY2023Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
503354000 | |
CY2023Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
329000 | |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-123770000 | |
CY2022Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-39785000 | |
CY2023Q4 | us-gaap |
Members Equity
MembersEquity
|
379913000 | |
CY2022Q4 | us-gaap |
Members Equity
MembersEquity
|
-35392000 | |
CY2023Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
401404000 | |
CY2023Q4 | us-gaap |
Members Equity
MembersEquity
|
379913000 | |
CY2022Q4 | us-gaap |
Members Equity
MembersEquity
|
-35392000 | |
CY2023Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
401404000 | |
CY2022Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
152055000 | |
CY2023 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
68424000 | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
27786000 | ||
CY2023 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
24579000 | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2941000 | ||
CY2023 | us-gaap |
Operating Expenses
OperatingExpenses
|
93003000 | |
us-gaap |
Operating Expenses
OperatingExpenses
|
30727000 | ||
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-93003000 | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-30727000 | ||
CY2023 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
9018000 | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
92000 | ||
apge |
Other Nonoperating Finance Expense
OtherNonoperatingFinanceExpense
|
9150000 | ||
CY2023 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
9018000 | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-9058000 | ||
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-83985000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-39785000 | ||
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-3.36 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-3.36 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-16.16 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-16.16 | ||
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
25005774 | |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
25005774 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2462236 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2462236 | ||
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-83985000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-39785000 | ||
CY2023 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
329000 | |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-83656000 | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-39785000 | ||
CY2022Q1 | us-gaap |
Members Equity
MembersEquity
|
0 | |
apge |
Stock Issued During Period Value Due To Payment Of Option Fee
StockIssuedDuringPeriodValueDueToPaymentOfOptionFee
|
2251000 | ||
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
2142000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-39785000 | ||
CY2022Q4 | us-gaap |
Members Equity
MembersEquity
|
-35392000 | |
CY2023 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
177467000 | |
CY2023 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
29666000 | |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
315391000 | |
CY2023 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
6103000 | |
CY2023 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
329000 | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-83985000 | |
CY2023Q4 | us-gaap |
Members Equity
MembersEquity
|
379913000 | |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-83985000 | |
us-gaap |
Profit Loss
ProfitLoss
|
-39785000 | ||
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6103000 | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2142000 | ||
apge |
Gain Loss On Fair Value Measurement Of Tranche Option Liability
GainLossOnFairValueMeasurementOfTrancheOptionLiability
|
-9150000 | ||
CY2022Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
152055000 | |
CY2023 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
68424000 | |
us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
27786000 | ||
CY2023 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
24579000 | |
us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2941000 | ||
CY2023 | us-gaap |
Operating Expenses
OperatingExpenses
|
93003000 | |
us-gaap |
Operating Expenses
OperatingExpenses
|
30727000 | ||
CY2023 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-93003000 | |
us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-30727000 | ||
CY2023 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
9018000 | |
us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
92000 | ||
apge |
Other Nonoperating Finance Expense
OtherNonoperatingFinanceExpense
|
9150000 | ||
CY2023 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
9018000 | |
us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-9058000 | ||
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-83985000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-39785000 | ||
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-3.36 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-3.36 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-16.16 | ||
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
25005774 | |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
25005774 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2462236 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2462236 | ||
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-83985000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-39785000 | ||
CY2023 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
329000 | |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-83656000 | |
us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-39785000 | ||
CY2022Q1 | us-gaap |
Members Equity
MembersEquity
|
0 | |
apge |
Stock Issued During Period Value Due To Payment Of Option Fee
StockIssuedDuringPeriodValueDueToPaymentOfOptionFee
|
2251000 | ||
us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
2142000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-39785000 | ||
CY2022Q4 | us-gaap |
Members Equity
MembersEquity
|
-35392000 | |
CY2023 | us-gaap |
Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
|
177467000 | |
CY2023 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
29666000 | |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
315391000 | |
CY2023 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
6103000 | |
CY2023 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
329000 | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-83985000 | |
CY2023Q4 | us-gaap |
Members Equity
MembersEquity
|
379913000 | |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-83985000 | |
us-gaap |
Profit Loss
ProfitLoss
|
-39785000 | ||
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6103000 | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2142000 | ||
apge |
Gain Loss On Fair Value Measurement Of Tranche Option Liability
GainLossOnFairValueMeasurementOfTrancheOptionLiability
|
-9150000 | ||
apge |
Non Cash Research And Development License Expenses
NonCashResearchAndDevelopmentLicenseExpenses
|
2251000 | ||
CY2023 | us-gaap |
Investment Income Amortization Of Discount
InvestmentIncomeAmortizationOfDiscount
|
3071000 | |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
87000 | |
CY2023 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
2785000 | |
us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
165000 | ||
CY2023 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
107000 | |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1613000 | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
418000 | ||
CY2023 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-270000 | |
CY2023 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
7654000 | |
apge |
Non Cash Research And Development License Expenses
NonCashResearchAndDevelopmentLicenseExpenses
|
2251000 | ||
CY2023 | us-gaap |
Investment Income Amortization Of Discount
InvestmentIncomeAmortizationOfDiscount
|
3071000 | |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
87000 | |
CY2023 | us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
2785000 | |
us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
165000 | ||
CY2023 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
107000 | |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1613000 | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
418000 | ||
CY2023 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-270000 | |
CY2023 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
7654000 | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
9562000 | ||
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-74761000 | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-16427000 | ||
CY2023 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
303743000 | |
CY2023 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
30000000 | |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
167000 | |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-273910000 | |
us-gaap |
Proceeds From Issuance Of Preferred Limited Partners Units
ProceedsFromIssuanceOfPreferredLimitedPartnersUnits
|
19821000 | ||
apge |
Proceeds From Issuance Of Series B Preferred Units Net
ProceedsFromIssuanceOfSeriesBPreferredUnitsNet
|
148496000 | ||
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
315391000 | |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
315391000 | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
168317000 | ||
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-33280000 | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
151890000 | ||
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
151890000 | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
118610000 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
151890000 | |
CY2023 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
72636636 | |
CY2023 | us-gaap |
Stock Issued1
StockIssued1
|
184404000 | |
apge |
Settlement Of Series Preferred Units Tranche Obligation
SettlementOfSeriesPreferredUnitsTrancheObligation
|
10200000 | ||
CY2023 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
2304000 | |
CY2023 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
210000 | |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
118316000 | |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
151890000 | |
CY2023Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
294000 | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
118610000 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
151890000 | |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="display:inline-block;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">1.</b></span><b style="font-weight:bold;">Nature of the Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Apogee Therapeutics, Inc., together with its consolidated subsidiary (collectively, “Apogee” or the “Company”), a successor to Apogee Therapeutics, LLC, is a biotechnology company seeking to develop differentiated biologics for the treatment of atopic dermatitis, asthma, chronic obstructive pulmonary disease and related inflammatory and immunology indications with high unmet need. The Company’s antibody programs are designed to overcome limitations of existing therapies by leveraging clinically validated mechanisms and incorporating advanced antibody engineering to optimize half-life and other properties designed.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company commenced its operations in February 2022 as a Delaware limited liability company named Apogee Therapeutics, LLC. The Company was founded by leading healthcare investors, Fairmount Funds and Venrock Healthcare Capital Partners and has since assembled a management team of drug developers with significant experience in clinical development. As a result of the Reorganization (as defined below) and in connection with the Company’s initial public offering (“IPO”) in July 2023, the Company directly wholly owns the assets of Apogee Therapeutics, LLC, including the stock of its subsidiary. In addition, the Company engages third parties, including Paragon Therapeutics, Inc. (“Paragon”), who is also a related party, to perform ongoing research and development and other services on its behalf.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">In February 2022, the Company entered into an antibody discovery and option agreement with Paragon, which was subsequently amended in November 2022 (as amended, the “2022 Option Agreement”). Under the terms of the 2022 Option Agreement, Paragon identifies, evaluates and develops antibodies directed against certain mutually agreed therapeutic targets of interest to the Company. The 2022 Option Agreement initially included two selected targets, IL-13 and IL-4Rα, and was subsequently amended in November 2022 to include an additional selected target, OX40L. Under the 2022 Option Agreement, the Company has the exclusive option to, on a research program-by-research program basis, be granted an exclusive, worldwide license to all of Paragon’s rights, title and interest in and to the intellectual property resulting from the applicable research program to develop, manufacture and commercialize the antibodies and products directed to the selected targets. In November 2023, the Company entered into an additional antibody discovery and option agreement with Paragon (the “2023 Option Agreement”). Under the terms of the 2023 Option Agreement, Paragon identifies, evaluates and develops antibodies directed against certain mutually agreed therapeutic targets of interest to the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">In November 2022, the Company exercised its option available under the 2022 Option Agreement with respect to the IL-13 Research Program (as defined below) and, in April 2023, the Company exercised its options available under the 2022 Option Agreement with respect to the IL-4Rα Research Program and OX40L Research Program. Upon such exercises, the parties entered into associated license agreements for each target. Under the terms of each license agreement, Paragon granted to the Company an exclusive, worldwide, royalty-bearing, sublicensable right and license with respect to certain information, patent rights and sequence information related to antibodies directed at the respective target to use, make, sell, import, export and otherwise exploit the antibodies directed at the respective target. The Company is solely responsible for the development, manufacture and commercialization of IL-13, IL-4Rα and OX40L products at its own cost and expense.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On July 13, 2023, the Company completed a reorganization, pursuant to which the members of Apogee Therapeutics, LLC contributed their units in Apogee Therapeutics, LLC to Apogee Therapeutics, Inc. in exchange for shares of common stock or non-voting common stock of Apogee Therapeutics, Inc. and Apogee Therapeutics, LLC became a wholly-owned subsidiary of Apogee Therapeutics, Inc. (the “Reorganization”), as follows:</p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of Series A Preferred Units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">7,678,000</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of non-voting common stock of Apogee Therapeutics, Inc.;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of Series B Preferred Units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">11,501,108</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of common stock and </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">5,808,642</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of non-voting common stock of Apogee Therapeutics, Inc.;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of common units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">1,919,500</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of common stock of Apogee Therapeutics, Inc.;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of vested incentive units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">690,188</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of common stock of Apogee Therapeutics, Inc.; and</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of unvested incentive units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">2,779,358</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of restricted common stock of Apogee Therapeutics, Inc.</span></td></tr></table><div style="margin-top:12pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On July 18, 2023, the Company completed its IPO, pursuant to which it issued and sold an aggregate of 20,297,500 shares of its common stock (inclusive of 2,647,500 shares pursuant to the exercise of the underwriters’ overallotment option in full) at the IPO price of $17.00 per share for net cash proceeds of $315.4 million, after deducting underwriting discounts and commissions and other offering expenses. The shares of Apogee Therapeutics, Inc. began trading on the Nasdaq Global Market on July 14, 2023 under the symbol APGE.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is subject to risks and uncertainties common to early stage companies in the biotechnology industry, including, but not limited to, completing preclinical studies and clinical trials, obtaining regulatory approval for its programs, market acceptance of products, development by competitors of new technological innovations, dependence on key personnel, the ability to attract and retain qualified employees, reliance on third-party organizations, protection of proprietary technology, compliance with government regulations, and the ability to raise additional capital to fund operations. The Company’s two most advanced programs currently under development, APG777 and APG808, as well as other programs, will require significant additional research and development efforts, including extensive preclinical and clinical testing and regulatory approval prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure, and extensive compliance reporting capabilities. Even if the Company’s development efforts are successful, it is uncertain when, if ever, the Company will realize revenue from product sales. The Company has primarily funded its operations with proceeds from the sales of preferred units and common stock and has not generated any revenue since inception.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">As a result, the Company will need substantial additional funding to support its continued operations and growth strategy. Until such a time as the Company can generate significant revenue from product sales, if ever, the Company expects to finance its operations through the sale of equity, debt financings or other capital sources, including collaborations with other companies or other strategic transactions. The Company may be unable to raise additional funds or enter into such other agreements on favorable terms, or at all. If the Company fails to raise capital or enter into such agreements as, and when, needed, the Company may have to significantly delay, scale back or discontinue the development and commercialization of one or more of its programs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Company Liquidity</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year after the date that the accompanying consolidated financial statements are issued. The Company had an accumulated deficit of $123.8 million as of December 31, 2023. Further, the Company incurred a net loss of $84.0 million and experienced negative cash flows from operations of $74.8 million for the year ended December 31, 2023. Based on the Company’s current operating plan, it estimates that its existing cash and cash equivalents of $118.3 million, and marketable securities of $277.1 million as of December 31, 2023 will be sufficient to enable the Company to fund its operating expenses and capital requirements through at least the next twelve months from the issuance of these consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is subject to those risks associated with any biotechnology company that has substantial expenditures for research and development. There can be no assurance that the Company’s research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable. In addition, the Company operates in an environment of rapid technological change and is largely dependent on the services of its employees and consultants. If the Company fails to become profitable or is unable to sustain profitability on a continuing basis, then it may be unable to continue its operations at planned levels and be forced to reduce its operations.</p> | |
CY2023Q3 | apge |
Proceeds From Issuance Initial Public Offering Net
ProceedsFromIssuanceInitialPublicOfferingNet
|
315400000 | |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-123800000 | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-84000000.0 | |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-74800000 | |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
118300000 | |
CY2023Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
277100000 | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
9562000 | ||
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-74761000 | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-16427000 | ||
CY2023 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
303743000 | |
CY2023 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
30000000 | |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
167000 | |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-273910000 | |
us-gaap |
Proceeds From Issuance Of Preferred Limited Partners Units
ProceedsFromIssuanceOfPreferredLimitedPartnersUnits
|
19821000 | ||
apge |
Proceeds From Issuance Of Series B Preferred Units Net
ProceedsFromIssuanceOfSeriesBPreferredUnitsNet
|
148496000 | ||
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
315391000 | |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
315391000 | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
168317000 | ||
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-33280000 | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
151890000 | ||
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
151890000 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
151890000 | |
CY2023 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
72636636 | |
CY2023 | us-gaap |
Stock Issued1
StockIssued1
|
184404000 | |
apge |
Settlement Of Series Preferred Units Tranche Obligation
SettlementOfSeriesPreferredUnitsTrancheObligation
|
10200000 | ||
CY2023 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
2304000 | |
CY2023 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
210000 | |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
118316000 | |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
151890000 | |
CY2023Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
294000 | |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
118610000 | |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
151890000 | |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="display:inline-block;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">1.</b></span><b style="font-weight:bold;">Nature of the Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Apogee Therapeutics, Inc., together with its consolidated subsidiary (collectively, “Apogee” or the “Company”), a successor to Apogee Therapeutics, LLC, is a biotechnology company seeking to develop differentiated biologics for the treatment of atopic dermatitis, asthma, chronic obstructive pulmonary disease and related inflammatory and immunology indications with high unmet need. The Company’s antibody programs are designed to overcome limitations of existing therapies by leveraging clinically validated mechanisms and incorporating advanced antibody engineering to optimize half-life and other properties designed.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company commenced its operations in February 2022 as a Delaware limited liability company named Apogee Therapeutics, LLC. The Company was founded by leading healthcare investors, Fairmount Funds and Venrock Healthcare Capital Partners and has since assembled a management team of drug developers with significant experience in clinical development. As a result of the Reorganization (as defined below) and in connection with the Company’s initial public offering (“IPO”) in July 2023, the Company directly wholly owns the assets of Apogee Therapeutics, LLC, including the stock of its subsidiary. In addition, the Company engages third parties, including Paragon Therapeutics, Inc. (“Paragon”), who is also a related party, to perform ongoing research and development and other services on its behalf.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">In February 2022, the Company entered into an antibody discovery and option agreement with Paragon, which was subsequently amended in November 2022 (as amended, the “2022 Option Agreement”). Under the terms of the 2022 Option Agreement, Paragon identifies, evaluates and develops antibodies directed against certain mutually agreed therapeutic targets of interest to the Company. The 2022 Option Agreement initially included two selected targets, IL-13 and IL-4Rα, and was subsequently amended in November 2022 to include an additional selected target, OX40L. Under the 2022 Option Agreement, the Company has the exclusive option to, on a research program-by-research program basis, be granted an exclusive, worldwide license to all of Paragon’s rights, title and interest in and to the intellectual property resulting from the applicable research program to develop, manufacture and commercialize the antibodies and products directed to the selected targets. In November 2023, the Company entered into an additional antibody discovery and option agreement with Paragon (the “2023 Option Agreement”). Under the terms of the 2023 Option Agreement, Paragon identifies, evaluates and develops antibodies directed against certain mutually agreed therapeutic targets of interest to the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">In November 2022, the Company exercised its option available under the 2022 Option Agreement with respect to the IL-13 Research Program (as defined below) and, in April 2023, the Company exercised its options available under the 2022 Option Agreement with respect to the IL-4Rα Research Program and OX40L Research Program. Upon such exercises, the parties entered into associated license agreements for each target. Under the terms of each license agreement, Paragon granted to the Company an exclusive, worldwide, royalty-bearing, sublicensable right and license with respect to certain information, patent rights and sequence information related to antibodies directed at the respective target to use, make, sell, import, export and otherwise exploit the antibodies directed at the respective target. The Company is solely responsible for the development, manufacture and commercialization of IL-13, IL-4Rα and OX40L products at its own cost and expense.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On July 13, 2023, the Company completed a reorganization, pursuant to which the members of Apogee Therapeutics, LLC contributed their units in Apogee Therapeutics, LLC to Apogee Therapeutics, Inc. in exchange for shares of common stock or non-voting common stock of Apogee Therapeutics, Inc. and Apogee Therapeutics, LLC became a wholly-owned subsidiary of Apogee Therapeutics, Inc. (the “Reorganization”), as follows:</p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of Series A Preferred Units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">7,678,000</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of non-voting common stock of Apogee Therapeutics, Inc.;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of Series B Preferred Units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">11,501,108</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of common stock and </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">5,808,642</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of non-voting common stock of Apogee Therapeutics, Inc.;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of common units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">1,919,500</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of common stock of Apogee Therapeutics, Inc.;</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of vested incentive units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">690,188</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of common stock of Apogee Therapeutics, Inc.; and</span></td></tr></table><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:54pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">holders of unvested incentive units of Apogee Therapeutics, LLC received </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">2,779,358</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;"> shares of restricted common stock of Apogee Therapeutics, Inc.</span></td></tr></table><div style="margin-top:12pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On July 18, 2023, the Company completed its IPO, pursuant to which it issued and sold an aggregate of 20,297,500 shares of its common stock (inclusive of 2,647,500 shares pursuant to the exercise of the underwriters’ overallotment option in full) at the IPO price of $17.00 per share for net cash proceeds of $315.4 million, after deducting underwriting discounts and commissions and other offering expenses. The shares of Apogee Therapeutics, Inc. began trading on the Nasdaq Global Market on July 14, 2023 under the symbol APGE.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is subject to risks and uncertainties common to early stage companies in the biotechnology industry, including, but not limited to, completing preclinical studies and clinical trials, obtaining regulatory approval for its programs, market acceptance of products, development by competitors of new technological innovations, dependence on key personnel, the ability to attract and retain qualified employees, reliance on third-party organizations, protection of proprietary technology, compliance with government regulations, and the ability to raise additional capital to fund operations. The Company’s two most advanced programs currently under development, APG777 and APG808, as well as other programs, will require significant additional research and development efforts, including extensive preclinical and clinical testing and regulatory approval prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure, and extensive compliance reporting capabilities. Even if the Company’s development efforts are successful, it is uncertain when, if ever, the Company will realize revenue from product sales. The Company has primarily funded its operations with proceeds from the sales of preferred units and common stock and has not generated any revenue since inception.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">As a result, the Company will need substantial additional funding to support its continued operations and growth strategy. Until such a time as the Company can generate significant revenue from product sales, if ever, the Company expects to finance its operations through the sale of equity, debt financings or other capital sources, including collaborations with other companies or other strategic transactions. The Company may be unable to raise additional funds or enter into such other agreements on favorable terms, or at all. If the Company fails to raise capital or enter into such agreements as, and when, needed, the Company may have to significantly delay, scale back or discontinue the development and commercialization of one or more of its programs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Company Liquidity</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year after the date that the accompanying consolidated financial statements are issued. The Company had an accumulated deficit of $123.8 million as of December 31, 2023. Further, the Company incurred a net loss of $84.0 million and experienced negative cash flows from operations of $74.8 million for the year ended December 31, 2023. Based on the Company’s current operating plan, it estimates that its existing cash and cash equivalents of $118.3 million, and marketable securities of $277.1 million as of December 31, 2023 will be sufficient to enable the Company to fund its operating expenses and capital requirements through at least the next twelve months from the issuance of these consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is subject to those risks associated with any biotechnology company that has substantial expenditures for research and development. There can be no assurance that the Company’s research and development projects will be successful, that products developed will obtain necessary regulatory approval, or that any approved product will be commercially viable. In addition, the Company operates in an environment of rapid technological change and is largely dependent on the services of its employees and consultants. If the Company fails to become profitable or is unable to sustain profitability on a continuing basis, then it may be unable to continue its operations at planned levels and be forced to reduce its operations.</p> | |
CY2023Q3 | apge |
Proceeds From Issuance Initial Public Offering Net
ProceedsFromIssuanceInitialPublicOfferingNet
|
315400000 | |
CY2023Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-123800000 | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-84000000.0 | |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-74800000 | |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
118300000 | |
CY2023Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
277100000 | |
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
|
10800000 | ||
us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Net
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersNet
|
10200000 | ||
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. Significant estimates relied upon in preparing the accompanying consolidated financial statements include, among others: research and development expenses and related prepaid or accrued costs, the valuation of equity-based compensation awards and related expense, the valuation of preferred units and preferred unit tranche rights.</p> | |
CY2023 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
CY2023 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | |
CY2023Q4 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
0 | |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. Significant estimates relied upon in preparing the accompanying consolidated financial statements include, among others: research and development expenses and related prepaid or accrued costs, the valuation of equity-based compensation awards and related expense, the valuation of preferred units and preferred unit tranche rights.</p> | |
CY2023 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
CY2023 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
1 | |
CY2023Q4 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
0 | |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Concentrations of Credit Risk and Significant Suppliers</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially expose the Company to credit risk primarily consist of cash and cash equivalents, restricted cash, and marketable securities. The Company’s investment portfolio is comprised of money market funds and debt securities issued by U.S. government. The Company maintains its deposits with accredited financial institutions and, consequently, the Company does not believe it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. Bank accounts in the United States are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. As of December 31, 2023 and December 31, 2022, predominantly all of the Company’s primary operating accounts significantly exceeded the FDIC limits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is dependent on third-party organizations to research, develop, manufacture and process its product candidates for its development programs. In particular, the Company relies on one third-party contract manufacturer to produce and process its two most advanced programs, APG777 and APG808, for preclinical and clinical activities. The Company expects to continue to be dependent on a small number of manufacturers to supply it with its requirements for all products. The Company’s research and development programs could be adversely affected by a significant interruption in the supply of the necessary materials. A significant amount of the Company’s research and development activities are performed under its agreements with Paragon (see Note 8).</p> | |
CY2022 | us-gaap |
Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
|
0 | |
CY2023 | us-gaap |
Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
|
0 | |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;">Concentrations of Credit Risk and Significant Suppliers</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially expose the Company to credit risk primarily consist of cash and cash equivalents, restricted cash, and marketable securities. The Company’s investment portfolio is comprised of money market funds and debt securities issued by U.S. government. The Company maintains its deposits with accredited financial institutions and, consequently, the Company does not believe it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. Bank accounts in the United States are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. As of December 31, 2023 and December 31, 2022, predominantly all of the Company’s primary operating accounts significantly exceeded the FDIC limits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is dependent on third-party organizations to research, develop, manufacture and process its product candidates for its development programs. In particular, the Company relies on one third-party contract manufacturer to produce and process its two most advanced programs, APG777 and APG808, for preclinical and clinical activities. The Company expects to continue to be dependent on a small number of manufacturers to supply it with its requirements for all products. The Company’s research and development programs could be adversely affected by a significant interruption in the supply of the necessary materials. A significant amount of the Company’s research and development activities are performed under its agreements with Paragon (see Note 8).</p> | |
CY2022 | us-gaap |
Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
|
0 | |
CY2023 | us-gaap |
Concentration Risk Credit Risk Financial Instrument Maximum Exposure
ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure
|
0 | |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
276814000 | |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
339000 | |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
10000 | |
CY2023Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
277143000 | |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
|
5 | |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
62500000 | |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
|
0 | |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
276814000 | |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
339000 | |
CY2023Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
10000 | |
CY2023Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
277143000 | |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
|
5 | |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
|
62500000 | |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
|
0 | |
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues
|
650000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
|
1700000 | ||
apge |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Net Assets Liabilities Issuances
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisNetAssetsLiabilitiesIssuances
|
-1050000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
|
-50000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
|
9100000 | ||
apge |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Net Assets Liabilities Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisNetAssetsLiabilitiesGainLossIncludedInEarnings
|
-9150000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
|
-600000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues
|
650000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
|
1700000 | ||
apge |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Net Assets Liabilities Issuances
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisNetAssetsLiabilitiesIssuances
|
-1050000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
|
-50000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
|
9100000 | ||
apge |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Net Assets Liabilities Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisNetAssetsLiabilitiesGainLossIncludedInEarnings
|
-9150000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
|
-600000 | ||
us-gaap |
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
|
10800000 | ||
us-gaap |
Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Net
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersNet
|
10200000 | ||
CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
1736000 | |
CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
108000 | |
CY2023Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
1214000 | |
CY2022Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
57000 | |
CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2950000 | |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
165000 | |
CY2023Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
300000 | |
CY2022Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
0 | |
CY2023Q4 | apge |
Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
|
6685000 | |
CY2022Q4 | apge |
Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
|
8847000 | |
CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
1736000 | |
CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
108000 | |
CY2023Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
1214000 | |
CY2022Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
57000 | |
CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
2950000 | |
CY2022Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
165000 | |
CY2023Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
300000 | |
CY2022Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
0 | |
CY2023Q4 | apge |
Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
|
6685000 | |
CY2022Q4 | apge |
Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
|
8847000 | |
CY2023Q4 | apge |
Accrued Manufacturing Expenses Current
AccruedManufacturingExpensesCurrent
|
9219000 | |
CY2023Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1243000 | |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
200000 | |
CY2023Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
167000 | |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
515000 | |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
17314000 | |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
9562000 | |
CY2023Q3 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
24987750 | |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
400000000 | |
CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-39785000 | ||
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
2518728 | |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
21.50 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
12711 | |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
23.60 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2506017 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y9M18D | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
16154000 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
2506017 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
21.49 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P9Y9M18D | |
CY2023Q4 | apge |
Accrued Manufacturing Expenses Current
AccruedManufacturingExpensesCurrent
|
9219000 | |
CY2023Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1243000 | |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
200000 | |
CY2023Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
167000 | |
CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
515000 | |
CY2023Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
17314000 | |
CY2022Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
9562000 | |
CY2022Q4 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
65089212 | |
CY2023Q3 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
24987750 | |
CY2022Q4 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
65089212 | |
CY2022Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
65089212 | |
CY2022Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
177467000 | |
CY2022Q4 | us-gaap |
Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
|
169000000 | |
CY2022Q4 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
65089212 | |
CY2023Q3 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
24987750 | |
CY2022Q4 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
65089212 | |
CY2022Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
65089212 | |
CY2022Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
177467000 | |
CY2022Q4 | us-gaap |
Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
|
169000000 | |
CY2023Q3 | us-gaap |
Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
|
24987750 | |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
400000000 | |
CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.00001 | |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
50655671 | |
CY2022Q4 | us-gaap |
Common Unit Authorized
CommonUnitAuthorized
|
5000000 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.043 | ||
CY2022Q1 | us-gaap |
Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
|
3469546 | |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
50655671 | |
CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
48338769 | |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
50655671 | |
CY2022Q4 | us-gaap |
Common Unit Authorized
CommonUnitAuthorized
|
5000000 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.043 | ||
CY2022Q1 | us-gaap |
Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
|
3469546 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
2518728 | |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
21.50 | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
12711 | |
CY2023 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
23.60 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2506017 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
21.49 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y9M18D | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
16154000 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
2506017 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
21.49 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P9Y9M18D | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
16154000 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
5555 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
23.60 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P9Y7M17D | |
CY2023Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
24000 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
100000 | |
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-39785000 | ||
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
25005774 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2462236 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2462236 | ||
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-3.36 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-3.36 | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
16154000 | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P9Y7M17D | |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
100000 | |
CY2023 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-3.36 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-16.16 | ||
CY2023 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6103000 | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2142000 | ||
CY2023Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
56100000 | |
CY2023 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y8M12D | |
apge |
Share Based Compensation Additional Expenses Recognized
ShareBasedCompensationAdditionalExpensesRecognized
|
2200000 | ||
CY2023Q3 | apge |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Option Grants
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfOptionGrants
|
2 | |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
100000 | |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P3Y | |
CY2023Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
0 | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-83985000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-39785000 | ||
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-83985000 | |
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-83985000 | |
CY2023 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6103000 | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2142000 | ||
CY2023Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
56100000 | |
CY2023 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y8M12D | |
apge |
Share Based Compensation Additional Expenses Recognized
ShareBasedCompensationAdditionalExpensesRecognized
|
2200000 | ||
CY2023Q3 | apge |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Option Grants
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfOptionGrants
|
2 | |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
100000 | |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P3Y | |
CY2023Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
0 | |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-83985000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-39785000 | ||
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-83985000 | |
CY2023 | us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-83985000 | |
us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-39785000 | ||
us-gaap |
Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
|
-39785000 | ||
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
25005774 | |
CY2023 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
25005774 | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2462236 | ||
us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
2462236 | ||
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-3.36 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-16.16 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-16.16 | ||
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
30178000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
6683000 | |
CY2023 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
23500000 | |
us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
6700000 | ||
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
23600000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
3000000.0 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
|
6500000 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
|
0.015 | |
us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
|
0.011 | ||
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.279 | |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.169 | ||
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
|
-0.019 | |
us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
|
-0.015 | ||
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
0.002 | |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4967009 | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
74737586 | ||
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1100000 | |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
900000 | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
|
P1Y10M24D | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
1244000 | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
964000 | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
2208000 | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
174000 | |
CY2023Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
2034000 | |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
100000 | |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | ||
us-gaap |
Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
|
0.048 | ||
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.049 | |
us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.003 | ||
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
-0.018 | |
CY2023 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4967009 | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
74737586 | ||
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1100000 | |
CY2023Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
900000 | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
|
P1Y10M24D | |
CY2023Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.10 | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
1244000 | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
964000 | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
2208000 | |
CY2023Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
174000 | |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
100000 | |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | ||
us-gaap |
Effective Income Tax Rate Reconciliation Tax Exempt Income
EffectiveIncomeTaxRateReconciliationTaxExemptIncome
|
0.048 | ||
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.049 | |
us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.003 | ||
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
-0.018 | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
|
0.015 | |
us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
|
0.011 | ||
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.279 | |
us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.169 | ||
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
|
0.002 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
21034000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
4563000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
5370000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
620000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
2415000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
697000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
|
1244000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
|
695000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
|
108000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
186000 | |
CY2023Q4 | apge |
Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
|
502000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
1000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
30752000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
6683000 | |
CY2023Q4 | apge |
Deferred Tax Liabilities Leasing Arrangements Right Of Use Asset
DeferredTaxLiabilitiesLeasingArrangementsRightOfUseAsset
|
574000 | |
CY2023Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
574000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
4563000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
5370000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
620000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
2415000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
|
697000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
|
1244000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
|
695000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
|
108000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
186000 | |
CY2023Q4 | apge |
Deferred Tax Assets Leasing Arrangements
DeferredTaxAssetsLeasingArrangements
|
502000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
1000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
30752000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
6683000 | |
CY2023Q4 | apge |
Deferred Tax Liabilities Leasing Arrangements Right Of Use Asset
DeferredTaxLiabilitiesLeasingArrangementsRightOfUseAsset
|
574000 | |
CY2023Q4 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
574000 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
30178000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
6683000 | |
CY2023 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
23500000 | |
us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
6700000 | ||
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
23600000 | |
CY2022Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
3000000.0 | |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
|
6500000 | |
CY2023 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
|
187000 | |
CY2023 | us-gaap |
Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
|
717000 | |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
904000 | |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
904000 | |
CY2022Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2023Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2023Q4 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2023Q4 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2023Q4 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2023Q4 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2023Q4 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2023Q4 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false |