2021 Q1 Form 10-Q Financial Statement
#000156459021027644 Filed on May 13, 2021
Income Statement
| Concept | 2021 Q1 | 2020 Q1 |
|---|---|---|
| Revenue | $65.99M | $0.00 |
| YoY Change | ||
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $8.760M | $1.220M |
| YoY Change | 618.03% | 31.18% |
| % of Gross Profit | ||
| Research & Development | $26.57M | $2.690M |
| YoY Change | 887.77% | 86.81% |
| % of Gross Profit | ||
| Depreciation & Amortization | $0.00 | $0.00 |
| YoY Change | ||
| % of Gross Profit | ||
| Operating Expenses | $35.33M | $4.045M |
| YoY Change | 773.42% | 70.68% |
| Operating Profit | $30.66M | -$4.045M |
| YoY Change | -857.85% | |
| Interest Expense | $60.00K | $60.00K |
| YoY Change | 0.0% | -66.67% |
| % of Operating Profit | 0.2% | |
| Other Income/Expense, Net | ||
| YoY Change | ||
| Pretax Income | $30.71M | -$3.990M |
| YoY Change | -869.75% | 82.19% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | $30.71M | -$3.988M |
| YoY Change | -870.14% | 81.85% |
| Net Earnings / Revenue | 46.55% | |
| Basic Earnings Per Share | $0.37 | -$0.40 |
| Diluted Earnings Per Share | $0.34 | -$0.40 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 82.58M | 10.09M |
| Diluted Shares Outstanding | 89.10M | 10.09M |
Balance Sheet
| Concept | 2021 Q1 | 2020 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $833.8M | $17.10M |
| YoY Change | 4776.02% | |
| Cash & Equivalents | $833.8M | $17.15M |
| Short-Term Investments | ||
| Other Short-Term Assets | $6.400M | $400.0K |
| YoY Change | 1500.0% | |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $840.1M | $17.60M |
| YoY Change | 4673.3% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $400.0K | $0.00 |
| YoY Change | ||
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $100.0K | $100.0K |
| YoY Change | 0.0% | |
| Total Long-Term Assets | $500.0K | $200.0K |
| YoY Change | 150.0% | |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $840.1M | $17.60M |
| Total Long-Term Assets | $500.0K | $200.0K |
| Total Assets | $840.6M | $17.80M |
| YoY Change | 4622.47% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $3.800M | $400.0K |
| YoY Change | 850.0% | |
| Accrued Expenses | $15.10M | $1.500M |
| YoY Change | 906.67% | |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $254.3M | $1.900M |
| YoY Change | 13283.05% | |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $113.0K | $100.0K |
| YoY Change | 13.0% | |
| Total Long-Term Liabilities | $113.0K | $100.0K |
| YoY Change | 13.0% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $254.3M | $1.900M |
| Total Long-Term Liabilities | $113.0K | $100.0K |
| Total Liabilities | $254.4M | $2.000M |
| YoY Change | 12619.55% | |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$34.45M | |
| YoY Change | ||
| Common Stock | $83.00K | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $586.3M | -$53.37M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $840.6M | $17.80M |
| YoY Change | 4622.75% |
Cashflow Statement
| Concept | 2021 Q1 | 2020 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $30.71M | -$3.988M |
| YoY Change | -870.14% | 81.85% |
| Depreciation, Depletion And Amortization | $0.00 | $0.00 |
| YoY Change | ||
| Cash From Operating Activities | -$16.84M | -$4.508M |
| YoY Change | 273.49% | 36.61% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $0.00 | |
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | $0.00 | |
| YoY Change | ||
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 471.0K | -6.000K |
| YoY Change | -7950.0% | |
| NET CHANGE | ||
| Cash From Operating Activities | -16.84M | -4.508M |
| Cash From Investing Activities | 0.000 | |
| Cash From Financing Activities | 471.0K | -6.000K |
| Net Change In Cash | -16.37M | -4.514M |
| YoY Change | 262.56% | 36.79% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$16.84M | -$4.508M |
| Capital Expenditures | $0.00 | |
| Free Cash Flow | -$16.84M | |
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2020Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2020Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
| CY2020Q4 | us-gaap |
Assets
Assets
|
863632000 | |
| CY2020Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
60000 | |
| CY2020Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
14368000 | |
| CY2021Q1 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
235382000 | |
| CY2021Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
| CY2020Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-65160000 | |
| CY2021Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
35330000 | |
| CY2020Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
4045000 | |
| CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
30655000 | |
| CY2020Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-4045000 | |
| CY2021Q1 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
58000 | |
| CY2020Q1 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
57000 | |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
30713000 | |
| CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3988000 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.37 | |
| CY2020Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.40 | |
| CY2021Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2021Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
620622000 | |
| CY2021Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-34447000 | |
| CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
586258000 | |
| CY2021Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
840649000 | |
| CY2021Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2021Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
| CY2021Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2021Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2020Q4 | us-gaap |
Unbilled Receivables Current
UnbilledReceivablesCurrent
|
5815000 | |
| CY2021Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
254278000 | |
| CY2021Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
113000 | |
| CY2021Q1 | us-gaap |
Liabilities
Liabilities
|
254391000 | |
| CY2021Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
83000 | |
| CY2021Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
65985000 | |
| CY2020Q4 | us-gaap |
Liabilities
Liabilities
|
315831000 | |
| CY2020Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
7545000 | |
| CY2020Q4 | us-gaap |
Assets Current
AssetsCurrent
|
863477000 | |
| CY2020Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
48000 | |
| CY2020Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
82000 | |
| CY2020Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
612879000 | |
| CY2020Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2020Q4 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
301367000 | |
| CY2020Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
315795000 | |
| CY2020Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
36000 | |
| CY2020Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
107000 | |
| CY2020Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
| CY2020Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2020Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2020Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
82436937 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
82436937 | |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
547801000 | |
| CY2020Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
863632000 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.34 | |
| CY2020Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.40 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
82577836 | |
| CY2020Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
10091000 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
89099075 | |
| CY2020Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
10091000 | |
| CY2021Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
471000 | |
| CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
7273000 | |
| CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-49571000 | |
| CY2020Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
189000 | |
| CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-53370000 | |
| CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
30713000 | |
| CY2020Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-3988000 | |
| CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
7273000 | |
| CY2020Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
189000 | |
| CY2021Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
7000 | |
| CY2020Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
4000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1151000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
192000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
356000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
3732000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-150000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
6628000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-371000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-65985000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-16837000 | |
| CY2020Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-4508000 | |
| CY2021Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
471000 | |
| CY2020Q1 | avir |
Payments Made For Initial Public Offering Costs
PaymentsMadeForInitialPublicOfferingCosts
|
6000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
471000 | |
| CY2020Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-6000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-16366000 | |
| CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-4514000 | |
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
850224000 | |
| CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
21768000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
833858000 | |
| CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
17254000 | |
| CY2020Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
17147000 | |
| CY2021Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
107000 | |
| CY2020Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
107000 | |
| CY2021Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-family:Arial;font-size:12pt;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of Business</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Background</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Atea Pharmaceuticals, Inc., together with its subsidiary Atea Pharmaceuticals Securities Corporation, is referred to on a consolidated basis as “the Company”.</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is a clinical-stage biopharmaceutical company <font style="Background-color:#FFFFFF;color:#000000;">focused on discovering, developing and commercializing antiviral therapeutics to improve the lives of patients suffering from life-threatening viral infections. </font></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:6pt;"> </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On November 3, 2020, the Company completed an initial public offering of its common stock (the “IPO”).  In connection with the IPO, the Company issued 14,375,000 shares of its common stock at $24.00 per share for net proceeds of $317,605 after deducting underwriting discounts and commissions and offering expenses.  Upon closing of the IPO, all outstanding shares of the Company’s convertible preferred stock converted into 57,932,090 shares of common stock.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Risks and Uncertainties</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;color:#000000;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to risks and uncertainties common to clinical-stage biopharmaceutical companies. These risks include, but are not limited to, potential failure of preclinical and clinical studies, uncertainties associated with research and development activities generally, competition from technical innovations of others, dependence upon key personnel, compliance with governmental regulations, the need to obtain marketing approval for any product candidate that the Company may discover and develop, the need to gain broad acceptance among patients, payers and health care providers to successfully commercialize any product for which marketing approval is obtained and the need to secure and maintain adequate intellectual property protection for the Company’s proprietary technology and products. Further, the Company is currently dependent on third-party service providers for much of its preclinical research, clinical development and manufacturing activities. Product candidates currently under development will require significant amounts of additional capital, additional research and development efforts, including extensive preclinical and clinical testing and regulatory approval, prior to commercialization. Even if the Company is able to generate revenues from the sale of its product candidates, if approved, it may not become profitable or be able to sustain profitability. 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. The Company is also subject to risks associated with the COVID-19 global pandemic, including actual and potential delays associated with certain of its ongoing and anticipated trials, and potential negative impacts on the Company’s business operations and its ability to raise additional capital to finance its operations.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company may seek additional capital through one or more of a combination of financing through the sale of additional equity securities, debt financing, or funding in connection with any additional collaborative relationships it may enter into or other arrangements. There can be no assurance that the Company will be able to obtain such additional funding, on terms acceptable to the Company, on a timely basis or at all. The terms of any financing may adversely affect the holdings or the rights of the Company’s existing shareholders.<font style="font-size:12pt;"> </font>The Company believes that its cash and cash equivalents of $833,751 as of March 31, 2021 will be sufficient to fund its operations as currently planned through at least 2023. </p> | |
| CY2021Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of unaudited financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in these accompanying notes. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors and assumptions that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, which include but are not limited to estimates of revenue recognition, accrued research and development expenses and the valuation of common stock in connection with the issuance of stock-based awards prior to the Company’s IPO. Changes in estimates are recorded in the period in which they become known. </p> | |
| CY2021Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
6521239 | |
| CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1532944 | |
| CY2021Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
356000 | |
| CY2021Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
323000 | |
| CY2021Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
114000 | |
| CY2021Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
70000 | |
| CY2021Q1 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
6000 | |
| CY2021Q1 | us-gaap |
Lease Cost
LeaseCost
|
76000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
|
P1Y3M18D | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
|
0.07 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
256000 | |
| CY2021Q1 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
805994000 | |
| CY2020Q1 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
846701000 | |
| CY2021Q1 | avir |
Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
|
12612000 | |
| CY2020Q4 | avir |
Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
|
10546000 | |
| CY2021Q1 | avir |
Accrued Professional Fees And Other Current
AccruedProfessionalFeesAndOtherCurrent
|
1668000 | |
| CY2020Q4 | avir |
Accrued Professional Fees And Other Current
AccruedProfessionalFeesAndOtherCurrent
|
1079000 | |
| CY2021Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
824000 | |
| CY2020Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2743000 | |
| CY2021Q1 | us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
On all matters to be voted upon by the holders of common stock, holders of common stock are entitled to one vote per share. | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
2212250 | |
| CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | |
| CY2021Q1 | avir |
Share Based Compensation Arrangement By Share Based Payment Award Options Granted In Period Aggregate Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedInPeriodAggregateGrantDateFairValue
|
112471000 | |
| CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
7273000 | |
| CY2020Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
189000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
200000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
456000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
19000 | |
| CY2021Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
437000 | |
| CY2021Q1 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | |
| CY2020Q1 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
0 | |
| CY2021Q1 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
0 | |
| CY2020Q1 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
0 |
