2022 Q4 Form 10-Q Financial Statement

#000095017022023525 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $330.0K $266.0K $3.074M
YoY Change -98.72% -91.35% -10.43%
Cost Of Revenue $204.0K $0.00
YoY Change
Gross Profit $126.0K $266.0K
YoY Change
Gross Profit Margin 38.18% 100.0%
Selling, General & Admin $3.169M $2.353M $2.816M
YoY Change 0.92% -16.44% 18.82%
% of Gross Profit 2515.08% 884.59%
Research & Development $5.027M $4.637M $5.147M
YoY Change 30.91% -9.91% 47.48%
% of Gross Profit 3989.68% 1743.23%
Depreciation & Amortization $22.00K $39.00K $44.00K
YoY Change -51.11% -11.36% -12.0%
% of Gross Profit 17.46% 14.66%
Operating Expenses $8.196M $6.990M $7.963M
YoY Change 17.42% -12.22% 35.79%
Operating Profit -$8.070M -$6.724M -$4.889M
YoY Change 37.53% 101.03%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$2.042M -$1.297M $0.00
YoY Change
Pretax Income -$9.663M -$7.827M -$4.887M
YoY Change -151.65% 60.16% 101.11%
Income Tax
% Of Pretax Income
Net Earnings -$9.663M -$7.827M -$4.887M
YoY Change -151.65% 60.16% 100.86%
Net Earnings / Revenue -2928.18% -2942.48% -158.98%
Basic Earnings Per Share -$0.13 -$0.08
Diluted Earnings Per Share -$0.16 -$0.13 -$82.17K
COMMON SHARES
Basic Shares Outstanding 60.19M 60.19M 59.48M
Diluted Shares Outstanding 60.19M 59.47M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $48.26M $53.38M $25.22M
YoY Change 58.56% 111.69% 70.39%
Cash & Equivalents $48.30M $53.40M $25.20M
Short-Term Investments
Other Short-Term Assets $439.0K $311.0K $119.0K
YoY Change -43.65% 161.34% -90.08%
Inventory
Prepaid Expenses $704.0K $1.047M $1.187M
Receivables $0.00 $123.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $49.40M $54.86M $26.52M
YoY Change 17.24% 106.85% 65.77%
LONG-TERM ASSETS
Property, Plant & Equipment $755.0K $437.0K $283.0K
YoY Change 217.23% 54.42% -71.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $30.00K $160.0K $160.0K
YoY Change -81.25% 0.0% -60.0%
Total Long-Term Assets $1.902M $823.0K $855.0K
YoY Change 147.98% -3.74% -38.93%
TOTAL ASSETS
Total Short-Term Assets $49.40M $54.86M $26.52M
Total Long-Term Assets $1.902M $823.0K $855.0K
Total Assets $51.30M $55.69M $27.38M
YoY Change 19.58% 103.39% 57.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.050M $1.739M $776.0K
YoY Change 11.58% 124.1% -13.78%
Accrued Expenses $4.179M $2.945M $2.996M
YoY Change 26.18% -1.7% 76.24%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $5.783M $5.204M $9.156M
YoY Change 24.63% -43.16% 11.66%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $34.91M $31.94M $374.0K
YoY Change 12022.57% 8438.77% -46.57%
Total Long-Term Liabilities $34.91M $31.94M $374.0K
YoY Change 12022.57% 8438.77% -66.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.783M $5.204M $9.156M
Total Long-Term Liabilities $34.91M $31.94M $374.0K
Total Liabilities $40.70M $37.14M $9.530M
YoY Change 725.81% 289.71% 2.47%
SHAREHOLDERS EQUITY
Retained Earnings -$288.4M -$278.8M -$274.2M
YoY Change 12.9% 1.67%
Common Stock $61.00K $60.00K $60.00K
YoY Change 1.67% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.61M $18.55M $17.85M
YoY Change
Total Liabilities & Shareholders Equity $51.30M $55.69M $27.38M
YoY Change 19.58% 103.39% 57.34%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$9.663M -$7.827M -$4.887M
YoY Change -151.65% 60.16% 100.86%
Depreciation, Depletion And Amortization $22.00K $39.00K $44.00K
YoY Change -51.11% -11.36% -12.0%
Cash From Operating Activities -$5.607M -$6.186M -$3.278M
YoY Change -210.94% 88.71% 23.23%
INVESTING ACTIVITIES
Capital Expenditures $91.00K -$155.0K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$91.00K -$155.0K $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 575.0K 30.69M 2.081M
YoY Change 248.48% 1374.72% -14.36%
NET CHANGE
Cash From Operating Activities -5.607M -6.186M -3.278M
Cash From Investing Activities -91.00K -155.0K 0.000
Cash From Financing Activities 575.0K 30.69M 2.081M
Net Change In Cash -5.123M 24.35M -1.197M
YoY Change -198.16% -2134.09% 420.43%
FREE CASH FLOW
Cash From Operating Activities -$5.607M -$6.186M -$3.278M
Capital Expenditures $91.00K -$155.0K $0.00
Free Cash Flow -$5.698M -$6.031M -$3.278M
YoY Change -212.74% 83.98% 23.23%

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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
475000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
125000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
115000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
431000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
200000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
113000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7758000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15787000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
155000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-155000
clsd Royalty Purchase And Sale Agreement Issuance Costs
RoyaltyPurchaseAndSaleAgreementIssuanceCosts
1900000
clsd Proceeds From Royalty Purchase And Sale Agreement Net Of Issuance Costs
ProceedsFromRoyaltyPurchaseAndSaleAgreementNetOfIssuanceCosts
-30638000
clsd Net Proceeds After Deducting Offering Expenses
NetProceedsAfterDeductingOfferingExpenses
-11078000
clsd Proceeds From Issuance At The Market
ProceedsFromIssuanceAtTheMarket
12208000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
220000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30758000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
23617000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
22845000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7830000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
30696000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17647000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53541000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25477000
clsd Forgiveness Of Paycheck Protection Program Loan And Accrued Interest
ForgivenessOfPaycheckProtectionProgramLoanAndAccruedInterest
998000
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53381000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25217000
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
160000
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
260000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53541000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
25477000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2011-05-26
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53400000
CY2022Q3 clsd Initial Proceeds From Royalty Sale And Purchase Agreement Net Of Certain Expenses
InitialProceedsFromRoyaltySaleAndPurchaseAgreementNetOfCertainExpenses
32100000
clsd Initial Proceeds From Royalty Purchase And Sale Agreement
InitialProceedsFromRoyaltyPurchaseAndSaleAgreement
32500000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;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;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;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;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of income and expenses during the reporting periods. Significant items subject to such estimates and assumptions include revenue recognition, the accounting for useful lives to calculate depreciation and amortization, clinical trial expense accruals, share-based compensation expense, income tax valuation allowance and the liability related to the sales of future royalties. Actual results could differ from these estimates.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;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;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk Arising From Cash Deposits in Excess of Insured Limits</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;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;Times New Roman&quot;, serif;min-width:fit-content;">The Company maintains its cash in bank deposits that at times may exceed federally insured limits. The Company has not experienced any loss in such accounts. The Company believes it is not exposed to any significant risks with respect to its cash balances.</span></p>
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
30000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
200000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
345000
CY2022Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2945000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3312000
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1515000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1193000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1078000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
955000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
437000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
238000
clsd Initial Proceeds From Royalty Purchase And Sales Agreement
InitialProceedsFromRoyaltyPurchaseAndSalesAgreement
32500000
CY2022Q3 clsd Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
1453000
CY2021Q4 clsd Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
1083000
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1249000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1854000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
43000
clsd Purchase And Sale Agreement Description
PurchaseAndSaleAgreementDescription
The Purchase and Sale Agreement will automatically expire, and the payment of Royalties from the Royalty Sub to HCR will cease, when HCR has received payments of the Royalties equal to 2.5 times the aggregate amount of payments made by HCR under the Agreement if the Second Milestone Event is achieved on or prior to December 31, 2024 (the “Initial Cap”). If the Second Milestone Event is not achieved on or prior to December 31, 2024, payment of Royalties from Royalty Sub to HCR will cease when HCR has received Royalties payments equal to 3.4 times the aggregate amount of payments under the Purchase and Sale Agreement (the “Alternative Cap”, and together with the Initial Cap, the “Cap Amount”). In the event of a change in control, acquiror will have the option to make a payment to HCR of the Cap Amount then in effect, less the aggregate amount of Royalty payments made by Royalty Sub to HCR under the Purchase and Sale Agreement as a one-time payment at which time, payment of Royalties to HCR will cease. Alternatively, in the event of a change in control, the acquiror will have the option to make an initial payment of 1.0 times the aggregate amount of payments made by HCR under the Purchase and Sale Agreement as of the date of such change in control, then in that event, payment of Royalties from Royalty Sub to HCR will cease when HCR has received total Royalties payments (including the initial payment) equal to the Alternative Cap. After the Purchase and Sale Agreement expires, all rights to receive the Royalties return to Royalty Sub.
clsd Debt Related Commitment Fees And Debt Related Issuance Costs
DebtRelatedCommitmentFeesAndDebtRelatedIssuanceCosts
1900000
clsd Initial Proceeds From Royalty Purchase And Sale Agreement
InitialProceedsFromRoyaltyPurchaseAndSaleAgreement
32500000
us-gaap Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
1862000
clsd Non Cash Interest Expense On Liability Related To The Sales Of Future Royalites
NonCashInterestExpenseOnLiabilityRelatedToTheSalesOfFutureRoyalites
1297000
CY2022Q3 clsd Liabilities Related To The Sales Of Future Royalties
LiabilitiesRelatedToTheSalesOfFutureRoyalties
31935000
CY2022Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.265
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
60190731
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
59722930
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
24000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
24000
us-gaap Variable Lease Cost
VariableLeaseCost
71000
us-gaap Variable Lease Cost
VariableLeaseCost
71000
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
2000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
64000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
6000
us-gaap Operating Lease Payments
OperatingLeasePayments
305000
us-gaap Operating Lease Payments
OperatingLeasePayments
293000
clsd Schedule Of Operating Leases Assets And Liabilities
ScheduleOfOperatingLeasesAssetsAndLiabilities
<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;Times New Roman&quot;, serif;min-width:fit-content;">The Company’s operating leases included on the consolidated balance sheet are as follows (in thousands):</span> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:80.614%;"/> <td style="width:1.948%;"/> <td style="width:1.0%;"/> <td style="width:15.438%;"/> <td style="width:1.0%;"/> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><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;Times New Roman&quot;, serif;min-width:fit-content;">September 30,<br/>2022</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);text-align:left;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:center;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;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;Times New Roman&quot;, serif;min-width:fit-content;">Operating lease right-of-use asset</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;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);font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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;Times New Roman&quot;, serif;min-width:fit-content;">226</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> </tr> <tr> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td colspan="2" style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;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;Times New Roman&quot;, serif;min-width:fit-content;">Liabilities</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td colspan="2" style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="margin-left:10.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;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;Times New Roman&quot;, serif;min-width:fit-content;">Current portion of operating lease liabilities</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;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);font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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;Times New Roman&quot;, serif;min-width:fit-content;">407</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="margin-left:10.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;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;Times New Roman&quot;, serif;min-width:fit-content;">Operating lease liabilities</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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;Times New Roman&quot;, serif;min-width:fit-content;">—</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:20.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:top;"><p style="margin-left:20.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;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;Times New Roman&quot;, serif;min-width:fit-content;">Total operating lease liabilities</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;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);font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;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;Times New Roman&quot;, serif;min-width:fit-content;">407</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(255,255,255,0.01);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;line-height:1.05;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"/> </p></td> </tr> </table>
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
226000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
407000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
407000
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The renewal option is not included in the calculation of the right-of-use asset and the lease liabilities as the Company is renewing the current lease on to-be-determined terms.
CY2022Q3 clsd Incremental Borrowing Rate
IncrementalBorrowingRate
0.110
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2022Q3 clsd Operating Lease Future Minimum Payment Remainder Of Fiscal Year
OperatingLeaseFutureMinimumPaymentRemainderOfFiscalYear
103000
CY2022Q3 clsd Operating Lease Future Minimum Payment Due In Two Years
OperatingLeaseFutureMinimumPaymentDueInTwoYears
316000
CY2022Q3 clsd Operating Leases Future Minimum Payment Due
OperatingLeasesFutureMinimumPaymentDue
419000
CY2022Q3 clsd Operating Lease Imputed Interest
OperatingLeaseImputedInterest
12000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
407000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
62000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
62000
us-gaap Operating Lease Cost
OperatingLeaseCost
185000
us-gaap Operating Lease Cost
OperatingLeaseCost
185000
CY2022Q3 clsd Fair Value Assets Between Level1 Level2 And Level3 Transfers Amount
FairValueAssetsBetweenLevel1Level2AndLevel3TransfersAmount
0
CY2021Q4 clsd Fair Value Assets Between Level1 Level2 And Level3 Transfers Amount
FairValueAssetsBetweenLevel1Level2AndLevel3TransfersAmount
0
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8711333
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8711333
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7205882
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7205882

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