2021 Q2 Form 10-Q Financial Statement
#000156459021042619 Filed on August 09, 2021
Income Statement
| Concept | 2021 Q2 | 2020 Q2 | 2020 Q1 |
|---|---|---|---|
| Revenue | $2.739M | $1.080M | $900.0K |
| YoY Change | 153.61% | 2.37% | 143.24% |
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $4.255M | $3.870M | $3.970M |
| YoY Change | 9.95% | 14.16% | 15.74% |
| % of Gross Profit | |||
| Research & Development | $8.762M | $8.119M | $9.906M |
| YoY Change | 7.92% | 18.23% | 18.59% |
| % of Gross Profit | |||
| Depreciation & Amortization | $231.0K | $202.0K | $194.0K |
| YoY Change | 14.36% | -1.46% | -5.37% |
| % of Gross Profit | |||
| Operating Expenses | $13.04M | $12.02M | $13.90M |
| YoY Change | 8.53% | 16.83% | 17.78% |
| Operating Profit | -$10.30M | -$10.94M | -$13.00M |
| YoY Change | -5.84% | 13.72% | |
| Interest Expense | $0.00 | $134.0K | $203.0K |
| YoY Change | -100.0% | 39.58% | 78.07% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $24.00K | $109.0K | $177.0K |
| YoY Change | -77.98% | -10.66% | 10.63% |
| Pretax Income | -$10.28M | -$10.83M | -$12.82M |
| YoY Change | -5.11% | 18.93% | 13.75% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$10.28M | -$10.83M | -$12.82M |
| YoY Change | -5.11% | 13.77% | 13.77% |
| Net Earnings / Revenue | -375.28% | -1003.06% | -1424.22% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$329.1K | -$383.8K | -$482.5K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 28.43M | ||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2021 Q2 | 2020 Q2 | 2020 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $73.92M | $85.08M | $48.73M |
| YoY Change | -13.12% | 201.1% | 57.81% |
| Cash & Equivalents | $73.92M | $59.90M | $23.43M |
| Short-Term Investments | $0.00 | $25.18M | $25.30M |
| Other Short-Term Assets | $3.853M | $2.200M | $1.900M |
| YoY Change | 75.14% | 120.0% | 90.0% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $1.904M | $1.200M | $605.0K |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $79.68M | $88.40M | $51.19M |
| YoY Change | -9.87% | 195.97% | 60.13% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $2.558M | $1.592M | $1.794M |
| YoY Change | 60.68% | -27.9% | -30.87% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $2.915M | $3.300M | $604.0K |
| YoY Change | -11.67% | 293.79% | -21.66% |
| Total Long-Term Assets | $9.995M | $13.00M | $9.459M |
| YoY Change | -23.12% | 9.35% | -28.45% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $79.68M | $88.40M | $51.19M |
| Total Long-Term Assets | $9.995M | $13.00M | $9.459M |
| Total Assets | $89.67M | $101.4M | $60.65M |
| YoY Change | -11.57% | 142.84% | 34.21% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $2.992M | $1.300M | $1.740M |
| YoY Change | 130.15% | -43.21% | -39.85% |
| Accrued Expenses | $6.877M | $8.300M | $1.144M |
| YoY Change | -17.14% | 221.71% | -46.77% |
| 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 | $16.67M | $14.90M | $12.09M |
| YoY Change | 11.9% | 32.23% | 14.35% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $89.00K | $6.300M | $3.300M |
| YoY Change | -98.59% | -38.24% | -66.67% |
| Total Long-Term Liabilities | $89.00K | $6.300M | $3.300M |
| YoY Change | -98.59% | -38.24% | -66.67% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $16.67M | $14.90M | $12.09M |
| Total Long-Term Liabilities | $89.00K | $6.300M | $3.300M |
| Total Liabilities | $16.76M | $21.20M | $15.41M |
| YoY Change | -20.93% | -1.28% | -24.63% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$121.3M | ||
| YoY Change | 46.05% | ||
| Common Stock | $166.3M | ||
| YoY Change | 54.26% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $72.91M | $80.15M | $45.24M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $89.67M | $101.4M | $60.65M |
| YoY Change | -11.57% | 142.84% | 34.21% |
Cashflow Statement
| Concept | 2021 Q2 | 2020 Q2 | 2020 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$10.28M | -$10.83M | -$12.82M |
| YoY Change | -5.11% | 13.77% | 13.77% |
| Depreciation, Depletion And Amortization | $231.0K | $202.0K | $194.0K |
| YoY Change | 14.36% | -1.46% | -5.37% |
| Cash From Operating Activities | -$9.765M | -$6.870M | -$10.94M |
| YoY Change | 42.14% | 3.0% | 29.13% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$250.0K | -$140.0K | $0.00 |
| YoY Change | 78.57% | -100.0% | |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $19.00K | $0.00 | -$9.950M |
| YoY Change | -100.0% | -204.74% | |
| Cash From Investing Activities | -$231.0K | -$140.0K | -$9.950M |
| YoY Change | 65.0% | -102.73% | -204.95% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 10.67M | 43.32M | 36.00K |
| YoY Change | -75.37% | 1058.29% | -85.99% |
| NET CHANGE | |||
| Cash From Operating Activities | -9.765M | -6.870M | -10.94M |
| Cash From Investing Activities | -231.0K | -140.0K | -9.950M |
| Cash From Financing Activities | 10.67M | 43.32M | 36.00K |
| Net Change In Cash | 674.0K | 36.31M | -20.86M |
| YoY Change | -98.14% | 1550.45% | -1751.46% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$9.765M | -$6.870M | -$10.94M |
| Capital Expenditures | -$250.0K | -$140.0K | $0.00 |
| Free Cash Flow | -$9.515M | -$6.730M | -$10.94M |
| YoY Change | 41.38% | 0.9% | 28.84% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P5Y9M25D | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0061 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.978 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0054 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.980 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0131 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
1.009 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0156 | ||
| CY2020Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2021Q2 | us-gaap |
Liabilities
Liabilities
|
16762000 | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
0.996 | ||
| CY2020 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P5Y6M3D | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P3Y11M8D | ||
| CY2021Q2 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.33 | |
| CY2021Q2 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
31233794 | |
| CY2020Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2524000 | |
| CY2020Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
1045000 | |
| CY2020Q2 | us-gaap |
Restricted Stock Award Forfeitures
RestrictedStockAwardForfeitures
|
76000 | |
| CY2020Q2 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
|
-94000 | |
| CY2020Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
80154000 | |
| CY2021Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2854000 | |
| CY2021Q2 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
310000 | |
| CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10279000 | |
| us-gaap |
Restricted Stock Award Forfeitures
RestrictedStockAwardForfeitures
|
76000 | ||
| us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
|
165000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-23651000 | ||
| CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
72910000 | |
| us-gaap |
Profit Loss
ProfitLoss
|
-22784000 | ||
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
632000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5290000 | ||
| cue |
Change In Operating Lease Right Of Use Asset
ChangeInOperatingLeaseRightOfUseAsset
|
2252000 | ||
| us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
19000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
487000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
2787000 | ||
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-250000 | ||
| cue |
Increase Decrease In Deposit Liabilities
IncreaseDecreaseInDepositLiabilities
|
-47000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
922000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
406000 | ||
| CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10279000 | |
| CY2020Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10833000 | |
| CY2020Q2 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
-94000 | |
| us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
|
-7000 | ||
| CY2021Q2 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-10279000 | |
| CY2021Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
24000 | |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
37000 | ||
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
286000 | ||
| CY2020Q2 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
109000 | |
| CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
72910000 | |
| CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
54584000 | |
| us-gaap |
Restricted Stock Award Forfeitures
RestrictedStockAwardForfeitures
|
85000 | ||
| us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
|
-7000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-22784000 | ||
| us-gaap |
Profit Loss
ProfitLoss
|
-23651000 | ||
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
535000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5699000 | ||
| cue |
Change In Operating Lease Right Of Use Asset
ChangeInOperatingLeaseRightOfUseAsset
|
-2813000 | ||
| us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
-5000 | ||
| us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
55000 | ||
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
473000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1337000 | ||
| CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
45236000 | |
| cue |
Payments For Redemption Of Short Term Investments
PaymentsForRedemptionOfShortTermInvestments
|
-10000000 | ||
| us-gaap |
Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
|
9949000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-784000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
1833000 | ||
| cue |
Increase Decrease In Research And Development Contract Liability
IncreaseDecreaseInResearchAndDevelopmentContractLiability
|
-1726000 | ||
| cue |
Increase Decrease In Research And Development Contract Liability
IncreaseDecreaseInResearchAndDevelopmentContractLiability
|
-698000 | ||
| cue |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
-2272000 | ||
| cue |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
2636000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-21565000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-17808000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
900000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
141000 | ||
| us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
19000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
11500000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
43357000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-946000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
15459000 | ||
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
75016000 | |
| CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
44440000 | |
| CY2021Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
74070000 | |
| us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
206000 | ||
| cue |
Payments To Acquire Property Plant And Equipment In Account Payable Or Accrued Expenses
PaymentsToAcquirePropertyPlantAndEquipmentInAccountPayableOrAccruedExpenses
|
141000 | ||
| us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="margin-top:8pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:6pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations.</p> | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
85000 | ||
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
76000 | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-top:8pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity 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 expenses during the reporting period. Significant estimates include estimates related to collaboration revenue, the accounting for potential liabilities and accrued expenses, the assumptions utilized in valuing stock-based compensation issued for services, the realization of deferred tax assets, and the useful life with respect to long-lived assets and intangibles. Actual results could differ from those estimates.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The COVID-19 outbreak, which the World Health Organization has classified as a pandemic, has prompted governments and regulatory bodies throughout the world to issue “stay-at-home” or other similar orders, and enact restrictions on the performance of “non-essential” services, public gatherings and travel. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The extent to which the COVID-19 pandemic impacts the Company’s business and financial results will depend on numerous evolving factors including, but not limited to: the magnitude and duration of the COVID-19 pandemic, the extent of its impact on worldwide macroeconomic conditions, the speed of the anticipated recovery, access to capital markets, and governmental and business reactions to the pandemic. The Company assessed certain accounting matters that generally require consideration of forecasted financial information in context with the information reasonably available to the Company and the unknown future impacts of the COVID-19 pandemic as of June 30, 2021 and through the date of the filing of this Quarterly Report on Form 10-Q. The accounting matters assessed included, but were not limited to, estimates related to collaboration revenue, the accounting for potential liabilities and accrued expenses, the assumptions utilized in valuing stock-based compensation issued for services, the realization of deferred tax assets, and assessments of impairment related to long-lived assets and intangibles. The Company’s future assessment of the magnitude and duration of the COVID-19 pandemic, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Despite the Company’s efforts, the ultimate impact of the COVID-19 pandemic depends on factors beyond the Company’s knowledge or control, including the duration and severity of the outbreak, as well as third-party actions taken to contain its spread and mitigate its public health effects. As a result, the Company is unable to estimate the extent to which the COVID-19 pandemic will negatively impact its financial results or liquidity.</p> | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
9119000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-10090000 | ||
| cue |
Proceeds From At Time Market Offering Net Of Commission And Fees
ProceedsFromAtTimeMarketOfferingNetOfCommissionAndFees
|
10357000 | ||
| cue |
Proceeds From At Time Market Offering Net Of Commission And Fees
ProceedsFromAtTimeMarketOfferingNetOfCommissionAndFees
|
42353000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1228000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
1080000 | ||
| dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2014-12-31 | ||
| CY2021Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
73920000 | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6750493 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6344026 | ||
| CY2020Q4 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
10003000 | |
| CY2020Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
4915000 | |
| CY2020Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2807000 | |
| CY2020Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2108000 | |
| CY2020Q2 | us-gaap |
Depreciation
Depreciation
|
202000 | |
| us-gaap |
Depreciation
Depreciation
|
449000 | ||
| us-gaap |
Depreciation
Depreciation
|
396000 | ||
| cue |
Amortization Of Trademark
AmortizationOfTrademark
|
6000 | ||
| cue |
Amortization Of Capitalized License Expense
AmortizationOfCapitalizedLicenseExpense
|
133000 | ||
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
0 | ||
| CY2021Q2 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
60002000 | |
| CY2020Q4 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
72943000 | |
| CY2020Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
10003000 | |
| CY2021Q2 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
60002000 | |
| CY2020Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
82946000 | |
| CY2020Q4 | cue |
Fair Value Assets Among Level2 And Level3 Transfers Amount
FairValueAssetsAmongLevel2AndLevel3TransfersAmount
|
0 | |
| CY2020Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
9995000 | |
| CY2020Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
7000 | |
| CY2020Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
10003000 | |
| CY2021Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
5557000 | |
| CY2021Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2999000 | |
| CY2021Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
2558000 | |
| CY2021Q2 | us-gaap |
Depreciation
Depreciation
|
231000 | |
| cue |
Amortization Of Trademark
AmortizationOfTrademark
|
6000 | ||
| cue |
Amortization Of Capitalized License Expense
AmortizationOfCapitalizedLicenseExpense
|
177000 | ||
| CY2020Q2 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
0 | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | ||
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5030899 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
9.10 | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
991000 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
14.49 | ||
| us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
193355 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
6.35 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
143356 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
13.39 | ||
| CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5685188 | |
| CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
10.02 | |
| CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
3251307 | |
| CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
7.63 | |
| CY2021Q2 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
21198000 | |
| CY2021Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
15299000 | |
| CY2021Q2 | cue |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Of Options Exercisable Intrinsic Fair Value Per Share
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueOfOptionsExercisableIntrinsicFairValuePerShare
|
11.65 | |
| CY2021Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2854000 | |
| CY2020Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2524000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5290000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5699000 | ||
| CY2020Q4 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
861969 | |
| cue |
Class Of Warrants Or Rights Cashless Issue Exercises
ClassOfWarrantsOrRightsCashlessIssueExercises
|
8048 | ||
| cue |
Class Of Warrant Or Right Number Of Securities Withheld
ClassOfWarrantOrRightNumberOfSecuritiesWithheld
|
1952 | ||
| CY2021Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
851969 | |
| CY2021Q2 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
2500000 | |
| CY2021Q2 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
1223000 | |
| CY2020Q2 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
1080000 | |
| us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
2445000 | ||
| CY2021Q2 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1285000 | |
| CY2021Q2 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1225000 | |
| CY2021Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.060 | |
| CY2021Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y | |
| cue |
Number Of Tranches
NumberOfTranches
|
2 | ||
| us-gaap |
Description Of Lessee Leasing Arrangements Operating Leases
DescriptionOfLesseeLeasingArrangementsOperatingLeases
|
Upon execution of this lease agreement, the Company prepaid three months of rent, two of which will be held in escrow and credited against future rent payments and the other of which was applied to the first month’s rent. The Company also prepaid seven and one-half months’ rent pursuant to an amendment to the lease agreement executed on June 18, 2018. These amounts were recorded to deposits and prepaid expenses, respectively, at December 31, 2018 | ||
| CY2021Q2 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
2620000 | |
| CY2021Q2 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.060 | |
| CY2021Q2 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y | |
| CY2021Q2 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
2408000 | |
| CY2021Q2 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
5028000 | |
| CY2021Q2 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
154000 | |
| CY2021Q2 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
4874000 | |
| us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
2160000 | ||
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
2459000 | ||
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2445000 |
