$CADL
Candel Therapeutics, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023020873 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $31.00K
YoY Change -100.0% -100.0% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.645M $4.164M $3.600M
YoY Change -3.11% 15.67% 86.05%
% of Gross Profit
Research & Development $5.934M $5.469M $5.417M
YoY Change 18.16% 0.96% 96.77%
% of Gross Profit
Depreciation & Amortization $236.0K $230.0K $165.0K
YoY Change 26.2% 39.39% 534.62%
% of Gross Profit
Operating Expenses $9.579M $9.633M $9.017M
YoY Change 9.05% 6.83% 92.34%
Operating Profit -$9.579M -$9.633M -$8.986M
YoY Change 9.44% 7.2% 92.96%
Interest Expense $644.0K $102.0K -$175.0K
YoY Change -276.44% -158.29% 1358.33%
% of Operating Profit
Other Income/Expense, Net -$35.00K $838.0K $8.112M
YoY Change -100.76% -89.67% 4431.84%
Pretax Income -$9.614M -$8.795M -$874.0K
YoY Change 131.72% 906.29% -80.48%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$9.614M -$8.795M -$874.0K
YoY Change 131.72% 906.29% -80.48%
Net Earnings / Revenue -2819.35%
Basic Earnings Per Share -$0.33 -$0.30 -$0.03
Diluted Earnings Per Share -$0.33 -$0.30 -$30.46K
COMMON SHARES
Basic Shares Outstanding 28.92M 28.92M 28.69M
Diluted Shares Outstanding 28.92M 28.92M 28.69M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $51.89M $59.26M $94.32M
YoY Change -40.2% -37.17% 223.55%
Cash & Equivalents $51.90M $59.26M $94.32M
Short-Term Investments
Other Short-Term Assets $1.468M $2.617M $1.325M
YoY Change 169.85% 97.51% 315.36%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $53.36M $61.88M $95.65M
YoY Change -38.89% -35.31% 224.54%
LONG-TERM ASSETS
Property, Plant & Equipment $3.981M $4.098M $4.264M
YoY Change -12.41% -3.89% 0.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $425.0K $266.0K $437.0K
YoY Change 59.77% -39.13% -67.87%
Total Long-Term Assets $5.346M $5.363M $5.916M
YoY Change -10.53% -9.35% 5.21%
TOTAL ASSETS
Total Short-Term Assets $53.36M $61.88M $95.65M
Total Long-Term Assets $5.346M $5.363M $5.916M
Total Assets $58.71M $67.24M $101.6M
YoY Change -37.08% -33.8% 189.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $480.0K $592.0K $1.386M
YoY Change -69.7% -57.29% -8.39%
Accrued Expenses $3.495M $2.867M $3.563M
YoY Change -7.81% -19.53% 8.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $3.652M $1.253M
YoY Change
Total Short-Term Liabilities $8.163M $5.236M $5.472M
YoY Change 38.87% -4.31% -0.47%
LONG-TERM LIABILITIES
Long-Term Debt $16.70M $19.02M $20.53M
YoY Change -19.04% -7.32% 3988.65%
Other Long-Term Liabilities $2.371M $2.653M $11.80M
YoY Change -64.72% -77.52% 56.73%
Total Long-Term Liabilities $16.70M $19.02M $32.33M
YoY Change -38.93% -41.16% 302.44%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.163M $5.236M $5.472M
Total Long-Term Liabilities $16.70M $19.02M $32.33M
Total Liabilities $27.94M $27.59M $37.80M
YoY Change -15.93% -27.02% 179.36%
SHAREHOLDERS EQUITY
Retained Earnings -$117.5M -$107.9M -$81.17M
YoY Change 37.75% 32.93%
Common Stock $148.7M $148.0M $144.9M
YoY Change 1.97% 2.11%
Preferred Stock
YoY Change
Treasury Stock (at cost) $448.0K $448.0K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $30.77M $39.65M $63.76M
YoY Change
Total Liabilities & Shareholders Equity $58.71M $67.24M $101.6M
YoY Change -37.08% -33.8% 189.4%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$9.614M -$8.795M -$874.0K
YoY Change 131.72% 906.29% -80.48%
Depreciation, Depletion And Amortization $236.0K $230.0K $165.0K
YoY Change 26.2% 39.39% 534.62%
Cash From Operating Activities -$7.195M -$10.82M -$8.053M
YoY Change 1.38% 34.35% 43.11%
INVESTING ACTIVITIES
Capital Expenditures $169.0K $138.0K $171.0K
YoY Change -126.61% -19.3% -25.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 $157.0K
YoY Change
Cash From Investing Activities -$169.0K $19.00K -$171.0K
YoY Change -73.39% -111.11% -25.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 19.92M
YoY Change -100.0% -100.0% 17682.14%
NET CHANGE
Cash From Operating Activities -7.195M -10.82M -8.053M
Cash From Investing Activities -169.0K 19.00K -171.0K
Cash From Financing Activities 0.000 0.000 19.92M
Net Change In Cash -7.364M -10.80M 11.69M
YoY Change -4.49% -192.37% -303.55%
FREE CASH FLOW
Cash From Operating Activities -$7.195M -$10.82M -$8.053M
Capital Expenditures $169.0K $138.0K $171.0K
Free Cash Flow -$7.364M -$10.96M -$8.224M
YoY Change 13.96% 33.23% 40.44%

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CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.5pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">preparation of the Company’s condensed </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.5pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and related disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. On an ongoing basis, the Company’s management evaluates its estimates, which include but are not limited to management’s judgments of accrued expenses, valuation of stock-based option awards, valuations of warrants, and income taxes. Actual results could differ from those estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.5pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p>
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
1253000
CY2023Q1 cadl Cash And Cash Equivalent Maturity Period
CashAndCashEquivalentMaturityPeriod
P90D
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
300000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
300000
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.5pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. Periodically, the Company maintains deposits in accredited financial institutions in-excess of the federally insured limits. The Company deposits its cash in financial institutions with a high credit quality and has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal risk associated with commercial banking relationships.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:9.5pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p>
CY2023Q1 cadl Expected Dividend Assumed
ExpectedDividendAssumed
0
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
19023000
CY2023Q1 cadl Percentage Income Taxes Benefits Upon Ultimate Settlement
PercentageIncomeTaxesBenefitsUponUltimateSettlement
0.50
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5457000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5553000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1359000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1129000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4098000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4424000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
200000
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
200000
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
989000
CY2023Q1 cadl Debt Instrument Accretion Of Debt Discount
DebtInstrumentAccretionOfDebtDiscount
365000
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
20276000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1413000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2647000
CY2023Q1 cadl Accrued Third Party Research And Development Expenses Current
AccruedThirdPartyResearchAndDevelopmentExpensesCurrent
895000
CY2022Q4 cadl Accrued Third Party Research And Development Expenses Current
AccruedThirdPartyResearchAndDevelopmentExpensesCurrent
1486000
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
559000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
590000
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2867000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4723000
CY2022Q4 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
5000000.0
CY2022Q4 cadl Cash Proceeds Amount Equal To At Least From The Issuance And Sale Of Equity Securities
CashProceedsAmountEqualToAtLeastFromTheIssuanceAndSaleOfEquitySecurities
75000000.0
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
8870000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
10232000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
898000
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
20000000
CY2023Q1 cadl Debt Instrument Final Payment Fee
DebtInstrumentFinalPaymentFee
900000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
90000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
90000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
49000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
47000
CY2023Q1 us-gaap Lease Cost
LeaseCost
100000
CY2022Q1 us-gaap Lease Cost
LeaseCost
100000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
144000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
141000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M24D
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2023Q1 cadl Weighted Average Incremental Borrowing Rate
WeightedAverageIncrementalBorrowingRate
0.0702
CY2022Q1 cadl Weighted Average Incremental Borrowing Rate
WeightedAverageIncrementalBorrowingRate
0.0702
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
438000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
598000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
613000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
415000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2064000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
225000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1839000
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
29042418
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28919810
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28919810
CY2023Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
16144361
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
15077409
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2544932
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5645420
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.77
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
61000
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.66
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
227061
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
4.25
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5479359
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.70
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M9D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7000000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3064562
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.37
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y5M26D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
7000000
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2414797
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
3.12
CY2023Q1 cadl Sharebased Compensation Arrangement By Sharebased Payment Award Option Unvested Weighted Average Remaining Contractual
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionUnvestedWeightedAverageRemainingContractual
P8Y5M15D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y29D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1200000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
733000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
492000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
6200000
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
7500000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y3M18D
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y5M12D
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q1 cadl Noncancelable Operating Lease Expiration Date
NoncancelableOperatingLeaseExpirationDate
2026
CY2023Q1 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
0
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-8795000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-874000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28919810
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28919810
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28690511
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28690511
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.30
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.30
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12987063
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13153128

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