2023 Q3 Form 10-Q Financial Statement

#000173112223001412 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.592M $3.248M $3.185M
YoY Change -33.59% 1.96% 30.87%
% of Gross Profit
Research & Development $10.06M $10.28M $9.273M
YoY Change -11.6% 10.89% 3.44%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $12.65M $13.53M $12.46M
YoY Change -17.22% 8.6% 9.3%
Operating Profit -$13.53M -$12.46M
YoY Change 8.6%
Interest Expense $1.772M $1.727M -$502.6K
YoY Change 745.94% -443.57% 236.36%
% of Operating Profit
Other Income/Expense, Net $669.9K $2.292M $682.4K
YoY Change -32.63% 235.82% -51.5%
Pretax Income -$10.21M -$11.24M -$12.28M
YoY Change -27.49% -8.47% 21.08%
Income Tax -$63.95K $41.00K $88.42K
% Of Pretax Income
Net Earnings -$10.15M -$11.28M -$12.37M
YoY Change -29.0% -8.79% 21.48%
Net Earnings / Revenue
Basic Earnings Per Share -$0.14
Diluted Earnings Per Share -$0.12 -$0.14 -$159.7K
COMMON SHARES
Basic Shares Outstanding 81.95M shares 80.84M shares
Diluted Shares Outstanding 80.88M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $151.0M $154.8M $153.2M
YoY Change 1.25% 1.06% -2.77%
Cash & Equivalents $151.0M $154.8M $153.2M
Short-Term Investments
Other Short-Term Assets $653.0K $827.6K $462.0K
YoY Change 84.38% 79.14% 78.92%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $154.4M $157.8M $160.2M
YoY Change 1.1% -1.5% -3.72%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $3.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $154.4M $157.8M $160.2M
Total Long-Term Assets $0.00 $3.00 $0.00
Total Assets $154.4M $157.8M $160.2M
YoY Change 1.1% -1.5% -3.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.322M $4.153M $3.127M
YoY Change 13.0% 32.81% -25.14%
Accrued Expenses $7.295M $5.986M $5.914M
YoY Change 22.71% 1.21% 27.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.53M $11.06M $9.485M
YoY Change 22.72% 16.56% 2.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $12.53M $11.06M $9.485M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $12.53M $11.06M $9.485M
YoY Change 22.72% 16.56% 2.27%
SHAREHOLDERS EQUITY
Retained Earnings -$293.1M -$282.9M
YoY Change 19.35%
Common Stock $434.9M $429.7M
YoY Change 12.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $141.9M $146.8M $150.7M
YoY Change
Total Liabilities & Shareholders Equity $154.4M $157.8M $160.2M
YoY Change 1.1% -1.5% -3.72%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$10.15M -$11.28M -$12.37M
YoY Change -29.0% -8.79% 21.48%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$5.845M -$7.653M -$7.053M
YoY Change 44.54% 8.49% -6.19%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.096M
YoY Change -92.42%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.061M 9.003M 6.910M
YoY Change 84367.21% 30.28% -92.25%
NET CHANGE
Cash From Operating Activities -5.845M -7.653M -7.053M
Cash From Investing Activities
Cash From Financing Activities 2.061M 9.003M 6.910M
Net Change In Cash -3.784M 1.350M -143.2K
YoY Change -6.37% -1042.88% -100.18%
FREE CASH FLOW
Cash From Operating Activities -$5.845M -$7.653M -$7.053M
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_804_eus-gaap--BasisOfAccounting_zDr0DvYj0Kp5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>Note 2 <span id="xdx_824_z8Y8eG1yBZ48">Basis of Presentation</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b> </b></p> <p id="xdx_843_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_z9FpFqvR7NNc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"><b><i><span id="xdx_865_zqPQCWR9m2L">Basis of Presentation</span> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These accompanying unaudited condensed interim consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim reporting. Accordingly, certain information and note disclosures normally included in the annual financial statements in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the disclosures are adequate to make the information presented not misleading.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These accompanying unaudited condensed interim consolidated financial statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for fair presentation of the information contained herein. The consolidated balance sheet as of September 30, 2022 was derived from the audited annual financial statements but does not include all disclosures required by U.S. GAAP. The accompanying unaudited condensed interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended September 30, 2022 filed with the SEC on November 28, 2022. The Company follows the same accounting policies in the preparation of interim reports.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating results for the three and nine months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending September 30, 2023.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_840_ecustom--LliquidityPolicyTextBlock_z57odifUfOa2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_868_zBRPPeYZVXAk">Liquidity</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All of the Company’s potential drug compounds are in the clinical development stage and the Company cannot be certain that its research and development efforts will be successful or, if successful, that its potential drug compounds will ever be approved for sales to pharmaceutical companies or generate commercial revenues. To date, we have not generated any revenues from our operations. The Company expects the business to continue to experience negative cash flows from operations for the foreseeable future and cannot predict when, if ever, our business might become profitable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management believes that the current working capital position will be sufficient to meet the Company’s working capital requirements beyond the next 12 months after the date that these condensed interim consolidated financial statements are issued. The process of drug development can be costly, and the timing and outcomes of clinical trials are uncertain. The assumptions upon which the Company has based its estimates are routinely evaluated and may be subject to change. The actual amount of the Company’s expenditures will vary depending upon a number of factors including but not limited to the design, timing and duration of future clinical trials, the progress of the Company’s research and development programs and the level of financial resources available. The Company has the ability to adjust its operating plan spending levels based on the timing of future clinical trials.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Other than our rights related to the Sales Agreement and the Purchase Agreement (as defined below in Note 5), there can be no assurance that additional financing will be available to us when needed or, if available, that it can be obtained on commercially reasonable terms. If the Company is not able to obtain the additional financing on a timely basis, if and when it is needed, it will be forced to delay or scale down some or all of its research and development activities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_84E_eus-gaap--UseOfEstimates_zSGpNJ3JpQNh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_864_zXbaWVysJdna">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: gray"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to accounting for research and development costs, incentive income receivable, valuation and recoverability of deferred tax assets, stock based compensation, and loss contingencies. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_849_eus-gaap--ConsolidationPolicyTextBlock_zDjEre6jsve6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_860_zPStfmhlKJvl">Principles of Consolidation</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These consolidated financial statements include the accounts of Anavex Life Sciences Corp. and its wholly-owned subsidiaries, Anavex Australia Pty Limited (“Anavex Australia”), a company incorporated under the laws of Australia, Anavex Germany GmbH, a company incorporated under the laws of Germany, and Anavex Canada Ltd., a company incorporated under the laws of the Province of Ontario, Canada. All inter-company transactions and balances have been eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_842_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zrXksW990vL2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86F_zTuH7iC2OJle">Fair Value Measurements</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: gray"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair value hierarchy under GAAP is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 1 - quoted prices (unadjusted) in active markets for identical assets or liabilities;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 2 - observable inputs other than Level 1, quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, and model-derived prices whose inputs are observable or whose significant value drivers are observable; and</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Level 3 - assets and liabilities whose significant value drivers are unobservable by little or no market activity and that are significant to the fair value of the assets or liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At June 30, 2023 and September 30, 2022, the Company did not have any Level 3 assets or liabilities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p id="xdx_843_eus-gaap--EarningsPerSharePolicyTextBlock_zJkea6vlQS2g" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86A_zLqs1Er9a9M2">Basic and Diluted Loss per Share</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: gray"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic income/(loss) per common share is computed by dividing net income/(loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted income/(loss) per common share is computed by dividing net income/(loss) available to common stockholders by the sum of (1) the weighted-average number of common shares outstanding during the period, (2) the dilutive effect of the assumed exercise of options and warrants using the treasury stock method and (3) the dilutive effect of other potentially dilutive securities. For purposes of the diluted net loss per share calculation, options and warrants are potentially dilutive securities and are excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of June 30, 2023 loss per share excludes <span id="xdx_90B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20221001__20230630_pdd" title="Loss per share for potentially dilutive common shares">14,858,863</span> (June 30, 2022: <span id="xdx_909_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20211001__20220630_pdd" title="Loss per share for potentially dilutive common shares">13,194,616</span>) potentially dilutive common shares related to outstanding options and warrants, as their effect was anti-dilutive.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">  </p> <p id="xdx_84B_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zHQ8H7PzXKgf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b><i><span id="xdx_868_zmuFYFUkU751">Recently Adopted Accounting Pronouncements</span> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">In November 2021, the FASB issued ASU 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance” (“ASU 2021-10”). ASU 2021-10 increases the disclosure requirements for annual reporting periods relating to material government assistance transactions on the entity’s financial statements and any significant terms and conditions of the agreements including commitments and contingencies. The new standard was effective for the Company on October 1, 2022 but only impacts annual financial statement footnote disclosures. The adoption of ASU 2021-10 is expected to impact the disclosures related to the research and development incentive income that the Company receives from the Australian Tax Office (“ATO”) for its clinical trials in Australia.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p>
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zSGpNJ3JpQNh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_864_zXbaWVysJdna">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: gray"><b><i> </i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses in the reporting period. The Company regularly evaluates estimates and assumptions related to accounting for research and development costs, incentive income receivable, valuation and recoverability of deferred tax assets, stock based compensation, and loss contingencies. The Company bases its estimates and assumptions on current facts, historical experience, and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14858863 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13194616 shares
CY2023Q2 avxl Non Operating Income From Grant
NonOperatingIncomeFromGrant
0 usd
avxl Non Operating Income From Grant
NonOperatingIncomeFromGrant
25000 usd
CY2022Q2 avxl Non Operating Income From Grant
NonOperatingIncomeFromGrant
0 usd
avxl Non Operating Income From Grant
NonOperatingIncomeFromGrant
0 usd
CY2023Q2 avxl Deferred Grant Income
DeferredGrantIncome
916763 usd
CY2022Q3 avxl Deferred Grant Income
DeferredGrantIncome
443831 usd
CY2023Q2 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
564842 usd
us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
2048113 usd
CY2022Q2 us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
682432 usd
us-gaap Research And Development Arrangement Contract To Perform For Others Compensation Earned
ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned
2328675 usd
CY2023Q2 avxl Accrued Clinical Site And Patient Visits Costs
AccruedClinicalSiteAndPatientVisitsCosts
2301928 usd
CY2022Q3 avxl Accrued Clinical Site And Patient Visits Costs
AccruedClinicalSiteAndPatientVisitsCosts
2031105 usd
CY2023Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
952323 usd
CY2022Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
1297337 usd
CY2023Q2 avxl Fixed Contract Accruals
FixedContractAccruals
11170 usd
CY2022Q3 avxl Fixed Contract Accruals
FixedContractAccruals
417414 usd
CY2023Q2 avxl Milestone Based Contract Accruals
MilestoneBasedContractAccruals
570996 usd
CY2022Q3 avxl Milestone Based Contract Accruals
MilestoneBasedContractAccruals
137337 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2149241 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2061760 usd
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5985658 usd
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5944953 usd
CY2023Q2 avxl Sales Of Agreement Amount
SalesOfAgreementAmount
142407882 usd
CY2022Q3 avxl Sales Of Agreement Amount
SalesOfAgreementAmount
142407882 usd
CY2023Q2 avxl Fair Value Of Initial Commitment
FairValueOfInitialCommitment
844500 usd
CY2023Q2 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
25103 usd
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
85243 usd
CY2022Q2 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
21015 usd
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
42348 usd
CY2023Q2 us-gaap Pension Contributions
PensionContributions
76313 usd
us-gaap Pension Contributions
PensionContributions
176189 usd
CY2022Q2 us-gaap Pension Contributions
PensionContributions
27358 usd
us-gaap Pension Contributions
PensionContributions
120979 usd
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
160000 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
160000 shares
CY2023Q2 avxl Warrants Outstanding Weighted Average Exercise
WarrantsOutstandingWeightedAverageExercise
3.72
CY2022Q3 avxl Warrants Outstanding Weighted Average Exercise
WarrantsOutstandingWeightedAverageExercise
3.72
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
160000 shares
avxl Option Issued
OptionIssued
3912000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
3.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
3.83
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y1M2D
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2
P4Y8M19D
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3866781 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13183353 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3988614 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12336844 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3866781 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3988614 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13183353 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12336844 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
17543748 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0369 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0310 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y7M17D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M3D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8516 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8412 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000 pure

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