2025 Q1 Form 10-K Financial Statement

#000165066425000022 Filed on March 05, 2025

View on sec.gov

Income Statement

Concept 2025 Q1 2024 Q4 2024
Revenue $32.31M
YoY Change -58.64%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $199.2M
YoY Change 12.16%
% of Gross Profit
Depreciation & Amortization $5.800M
YoY Change -4.92%
% of Gross Profit
Operating Expenses $283.5M
YoY Change 14.62%
Operating Profit -$251.2M
YoY Change 48.45%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $14.06M
YoY Change -11.92%
Pretax Income
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings -$237.1M
YoY Change 54.74%
Net Earnings / Revenue -733.72%
Basic Earnings Per Share -$2.88
Diluted Earnings Per Share -$2.88
COMMON SHARES
Basic Shares Outstanding 82.98M shares 82.55M shares 82.34M shares
Diluted Shares Outstanding 82.34M shares

Balance Sheet

Concept 2025 Q1 2024 Q4 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $131.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $289.3M
YoY Change -15.11%
LONG-TERM ASSETS
Property, Plant & Equipment $14.50M
YoY Change 20.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.223M
YoY Change -39.18%
Total Long-Term Assets $52.27M
YoY Change -66.98%
TOTAL ASSETS
Total Short-Term Assets $289.3M
Total Long-Term Assets $52.27M
Total Assets $341.6M
YoY Change -31.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.493M
YoY Change -33.57%
Accrued Expenses $45.86M
YoY Change 32.68%
Deferred Revenue $6.221M
YoY Change -24.33%
Short-Term Debt
YoY Change
Long-Term Debt Due $5.000M
YoY Change
Total Short-Term Liabilities $77.23M
YoY Change 22.16%
LONG-TERM LIABILITIES
Long-Term Debt $52.43M
YoY Change
Other Long-Term Liabilities $3.072M
YoY Change 70.67%
Total Long-Term Liabilities $55.51M
YoY Change 2983.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $77.23M
Total Long-Term Liabilities $55.51M
Total Liabilities $207.3M
YoY Change 38.16%
SHAREHOLDERS EQUITY
Retained Earnings -$1.500B
YoY Change 25.0%
Common Stock $1.602B
YoY Change 1.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $134.3M
YoY Change
Total Liabilities & Shareholders Equity $341.6M
YoY Change -31.57%

Cashflow Statement

Concept 2025 Q1 2024 Q4 2024
OPERATING ACTIVITIES
Net Income -$237.1M
YoY Change 54.74%
Depreciation, Depletion And Amortization $5.800M
YoY Change -4.92%
Cash From Operating Activities -$210.3M
YoY Change 59.09%
INVESTING ACTIVITIES
Capital Expenditures $8.826M
YoY Change 87.03%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $162.1M
YoY Change -4445.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $56.03M
YoY Change -52.54%
NET CHANGE
Cash From Operating Activities -$210.3M
Cash From Investing Activities $162.1M
Cash From Financing Activities $56.03M
Net Change In Cash $7.889M
YoY Change -144.15%
FREE CASH FLOW
Cash From Operating Activities -$210.3M
Capital Expenditures $8.826M
Free Cash Flow -$219.1M
YoY Change 60.05%

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CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
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CY2024 edit Non Cash Interest Expense On Liability For Sale Of Future Revenues
NonCashInterestExpenseOnLiabilityForSaleOfFutureRevenues
2190000 usd
CY2023 edit Non Cash Interest Expense On Liability For Sale Of Future Revenues
NonCashInterestExpenseOnLiabilityForSaleOfFutureRevenues
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CY2022 edit Non Cash Interest Expense On Liability For Sale Of Future Revenues
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CY2024 us-gaap Increase Decrease In Accounts Receivable
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6079000 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5042000 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2024 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
137000 usd
CY2024 edit Increase Decrease In Right Of Use Assets
IncreaseDecreaseInRightOfUseAssets
-1126000 usd
CY2023 edit Increase Decrease In Right Of Use Assets
IncreaseDecreaseInRightOfUseAssets
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CY2022 edit Increase Decrease In Right Of Use Assets
IncreaseDecreaseInRightOfUseAssets
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IncreaseDecreaseInOtherNoncurrentAssets
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CY2023 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3335000 usd
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
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CY2024 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1492000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4368000 usd
CY2024 us-gaap Increase Decrease In Accrued Liabilities
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11623000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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CY2024 us-gaap Increase Decrease In Contract With Customer Liability
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CY2023 us-gaap Increase Decrease In Contract With Customer Liability
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0 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
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CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-7410000 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
17568000 usd
CY2024 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1271000 usd
CY2023 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1800000 usd
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
0 usd
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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PaymentsToAcquirePropertyPlantAndEquipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2024 us-gaap Proceeds From Sale Of Machinery And Equipment
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CY2023 us-gaap Proceeds From Sale Of Machinery And Equipment
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ProceedsFromSaleOfMachineryAndEquipment
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CY2023 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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CY2022 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
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CY2024 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
257189000 usd
CY2023 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
259505000 usd
CY2022 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
433354000 usd
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NetCashProvidedByUsedInInvestingActivities
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NetCashProvidedByUsedInInvestingActivities
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CY2024 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2023 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
117079000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
CY2024 edit Proceeds From Issuance Of Debt Net Of Payment Of Debt Issuance Costs
ProceedsFromIssuanceOfDebtNetOfPaymentOfDebtIssuanceCosts
55244000 usd
CY2023 edit Proceeds From Issuance Of Debt Net Of Payment Of Debt Issuance Costs
ProceedsFromIssuanceOfDebtNetOfPaymentOfDebtIssuanceCosts
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CY2022 edit Proceeds From Issuance Of Debt Net Of Payment Of Debt Issuance Costs
ProceedsFromIssuanceOfDebtNetOfPaymentOfDebtIssuanceCosts
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CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
41000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
305000 usd
CY2024 us-gaap Proceeds From Stock Plans
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590000 usd
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1284000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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-17870000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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127529000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145399000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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207396000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145399000 usd
CY2024Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
131541000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
123652000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
141522000 usd
CY2024Q4 us-gaap Restricted Cash
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3877000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
3877000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
3877000 usd
CY2024Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
135418000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
127529000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
145399000 usd
CY2024Q4 us-gaap Restricted Cash
RestrictedCash
3877000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
3877000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
3877000 usd
CY2024 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
65000 usd
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
845000 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1440000 usd
CY2024 us-gaap Operating Lease Payments
OperatingLeasePayments
18447000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
12428000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
14851000 usd
CY2024 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
794000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2752000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
24545000 usd
CY2024 edit Commencement Of Right Of Use Asset
CommencementOfRightOfUseAsset
7844000 usd
CY2023 edit Commencement Of Right Of Use Asset
CommencementOfRightOfUseAsset
0 usd
CY2022 edit Commencement Of Right Of Use Asset
CommencementOfRightOfUseAsset
5316000 usd
CY2024 edit Modification Of Right Of Use Asset
ModificationOfRightOfUseAsset
2683000 usd
CY2023 edit Modification Of Right Of Use Asset
ModificationOfRightOfUseAsset
0 usd
CY2022 edit Modification Of Right Of Use Asset
ModificationOfRightOfUseAsset
0 usd
CY2024 us-gaap Stock Issued1
StockIssued1
1479000 usd
CY2023 us-gaap Stock Issued1
StockIssued1
0 usd
CY2022 us-gaap Stock Issued1
StockIssued1
0 usd
CY2024 us-gaap Nature Of Operations
NatureOfOperations
Nature of Business<div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Editas Medicine, Inc. (the “Company”) is an early stage genome editing company dedicated to developing potentially transformative genomic medicines to treat a broad range of serious diseases. The Company was incorporated in the state of Delaware in September 2013. Its principal offices are in Cambridge, Massachusetts.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, and raising capital. The Company has primarily financed its operations through various equity financings, payments received under a research collaboration with Juno Therapeutics, Inc. (“Juno Therapeutics”), a wholly owned subsidiary of the Bristol-Myers Squibb Company (“BMS”), payments received under its former strategic alliance with Allergan Pharmaceuticals International Limited (together with its affiliates, “Allergan”), which was terminated in August 2020, payments received under our purchase and sale agreement with DRI Healthcare Acquisitions LP, and payments received in conjunction with the Company’s license agreement with Vertex Pharmaceuticals, Inc (“Vertex”, and such agreement, the “Vertex License Agreement”). </span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to risks common to companies in the biotechnology industry, including but not limited to, risks of failure of preclinical studies and clinical trials, the need to obtain marketing approval for any drug product candidate that it may identify and develop, the need to successfully commercialize and gain market acceptance of its product candidates, dependence on key personnel, protection of proprietary technology, compliance with government regulations, development by competitors of technological innovations and ability to transition from pilot-scale manufacturing to large-scale production of products.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2024, the Company has raised an aggregate of $1.0 billion in net proceeds through the sale of shares of its common stock in public offerings and at-the-market offerings. The Company also has funded its business from payments received under our purchase and sale agreement with DRI Healthcare Acquisitions LP, payments received under its license agreement with Vertex, its research collaboration with BMS through its wholly owned subsidiary June Therapeutics and its former strategic alliance with Allergan (which was terminated in August 2020). As of December 31, 2024, the Company had cash, cash equivalents and marketable securities of $269.9 million.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2021, the Company entered into a common stock sales agreement with TD Securities (USA) LLC (as successor to Cowen and Company, LLC) (“TD Cowen”), under which the Company from time to time can issue and sell shares of its common stock through TD Cowen in at-the-market offerings for aggregate gross sale proceeds of up to $300.0 million (the “Prior ATM Facility”). The Company amended the common stock sales agreement with TD Cowen in February 2024 in connection with filing a new registration statement. As of December 31, 2024 the Company has not sold any shares of its common stock under the Prior ATM Facility. In March 2025, the Company further amended the common stock sales agreement with TD Cowen in connection with amending its shelf registration statement following the loss of its status as a “well-known seasoned issuer” (as defined under Rule 405 of the Securities Act of 1933, as amended), lowering the amount of shares of common stock it may issue and sell through TD Cowen to aggregate gross sale proceeds of up to $150.0 million (the “ATM Facility”). As of December 31, 2024, the Company had not sold any shares of its common stock under the ATM Facility. </span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has incurred annual net operating losses in every year since its inception. The Company has an accumulated deficit of $1.5 billion at December 31, 2024. As of March 5, 2025, the issuance date of the consolidated financial statements, the Company expects that its existing cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements for at least twelve months from the issuance date of the consolidate financial statements. The Company has never generated any product revenue. There can be no assurance that the Company will be able to obtain additional debt or equity financing or generate product revenue or revenues from collaborative partners, on terms acceptable to the Company, on a timely basis or at all. The failure of the Company to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on the Company’s business, results of operations, and financial condition.</span></div>
CY2024 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
1000000000.0 usd
CY2024Q4 edit Cash Cash Equivalents And Marketable Securities Investments Total
CashCashEquivalentsAndMarketableSecuritiesInvestmentsTotal
269900000 usd
CY2024Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-1500000000 usd
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not limited to, estimates related to revenue recognition, stock-based compensation expense, the accrual for research and development expenses, valuations of in-process research and development assets, effective interest rates and deferred tax valuation allowances. The Company bases its estimates on historical experience and other market-specific or relevant assumptions that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions.</span></div>
CY2024Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3900000 usd
CY2024Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
131541000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
123652000 usd
CY2024Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3877000 usd
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3877000 usd
CY2024Q4 edit Cash Cash Equivalents Restricted Cash Restricted Cash Equivalents And Debt Securities Available For Sale
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsAndDebtSecuritiesAvailableForSale
135418000 usd
CY2023Q4 edit Cash Cash Equivalents Restricted Cash Restricted Cash Equivalents And Debt Securities Available For Sale
CashCashEquivalentsRestrictedCashRestrictedCashEquivalentsAndDebtSecuritiesAvailableForSale
127529000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 usd
CY2024 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
0 usd
CY2024Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0 usd
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk and Off-Balance Sheet Risk</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has no financial instruments with off-balance sheet risk such as foreign exchange contracts, option contracts, or other foreign hedging arrangements. Financial instruments that potentially subject the Company to a concentration of credit risk are cash, cash equivalents, marketable securities and receivables owed to the Company from collaboration partners. The Company’s cash, cash equivalents and marketable securities are held in accounts at a financial </span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">institution that may exceed federally insured limits. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds.</span></div>
CY2024 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2024Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
269645000 usd
CY2024Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2024Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
289000 usd
CY2024Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
21000 usd
CY2024Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
269913000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
426937000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
611000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
413000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
427135000 usd
CY2024Q4 edit Marketable Securities Noncurrent Number Of Securities
MarketableSecuritiesNoncurrentNumberOfSecurities
0 security
CY2024 edit Marketable Securities Remaining Maturity Term
MarketableSecuritiesRemainingMaturityTerm
P1Y
CY2024Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
46145000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
38292000 usd
CY2024Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
31648000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
26260000 usd
CY2024Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14497000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12032000 usd
CY2024 us-gaap Depreciation
Depreciation
5800000 usd
CY2023 us-gaap Depreciation
Depreciation
6100000 usd
CY2022 us-gaap Depreciation
Depreciation
6300000 usd
CY2024Q4 edit Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
11630000 usd
CY2023Q4 edit Accrued External Research And Development Expenses Current
AccruedExternalResearchAndDevelopmentExpensesCurrent
16204000 usd
CY2024Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11516000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11280000 usd
CY2024Q4 edit Sublicense And License Fees Current
SublicenseAndLicenseFeesCurrent
6609000 usd
CY2023Q4 edit Sublicense And License Fees Current
SublicenseAndLicenseFeesCurrent
5063000 usd
CY2024Q4 edit Intellectual Property And Patent Related Fees Current
IntellectualPropertyAndPatentRelatedFeesCurrent
1471000 usd
CY2023Q4 edit Intellectual Property And Patent Related Fees Current
IntellectualPropertyAndPatentRelatedFeesCurrent
983000 usd
CY2024Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1593000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
750000 usd
CY2024Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
808000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
283000 usd
CY2024Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
45859000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
34563000 usd
CY2024Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
32554000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
33680000 usd
CY2024Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
14652000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
12164000 usd
CY2024Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
20380000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24372000 usd
CY2024 us-gaap Operating Lease Cost
OperatingLeaseCost
21000000.0 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
15200000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
13600000 usd
CY2024 us-gaap Variable Lease Cost
VariableLeaseCost
2800000 usd
CY2023 us-gaap Variable Lease Cost
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3300000 usd
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1 segment
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2 numberofcustomer
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