$EWTX
Edgewise Therapeutics Inc

2024 Q2 Form 10-Q Financial Statement

#000154478424000056 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.427M $7.059M
YoY Change 28.49% 21.12%
% of Gross Profit
Research & Development $30.68M $27.69M
YoY Change 56.86% 39.33%
% of Gross Profit
Depreciation & Amortization $500.0K $500.0K
YoY Change 25.0% 150.0%
% of Gross Profit
Operating Expenses $38.11M $34.75M
YoY Change 50.39% 35.2%
Operating Profit -$38.11M -$34.75M
YoY Change 50.39% 35.2%
Interest Expense $6.610M $6.228M
YoY Change 70.8% 117.31%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$31.50M -$28.53M
YoY Change 46.71% 24.9%
Income Tax
% Of Pretax Income
Net Earnings -$31.50M -$28.53M
YoY Change 46.71% 24.9%
Net Earnings / Revenue
Basic Earnings Per Share -$0.34 -$0.33
Diluted Earnings Per Share -$0.34 -$0.33
COMMON SHARES
Basic Shares Outstanding 93.40M 93.11M
Diluted Shares Outstanding 93.52M 87.57M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $511.8M $532.8M
YoY Change 65.12% 62.45%
Cash & Equivalents $43.49M $30.26M
Short-Term Investments $468.3M $502.5M
Other Short-Term Assets $7.690M $8.668M
YoY Change 8.78% 60.19%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $519.4M $541.4M
YoY Change 63.86% 62.41%
LONG-TERM ASSETS
Property, Plant & Equipment $9.897M $10.18M
YoY Change -8.83% -2.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $262.0K
YoY Change -37.47%
Total Long-Term Assets $12.21M $12.38M
YoY Change -10.43% -5.05%
TOTAL ASSETS
Total Short-Term Assets $519.4M $541.4M
Total Long-Term Assets $12.21M $12.38M
Total Assets $531.6M $553.8M
YoY Change 60.8% 59.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.801M $4.723M
YoY Change 79.87% 21.88%
Accrued Expenses $5.143M $5.969M
YoY Change -22.33% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.18M $14.60M
YoY Change 19.28% 14.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.997M $4.265M
YoY Change -16.21% -11.97%
Total Long-Term Liabilities $3.997M $4.265M
YoY Change -16.21% -11.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.18M $14.60M
Total Long-Term Liabilities $3.997M $4.265M
Total Liabilities $21.17M $18.87M
YoY Change 10.45% 7.43%
SHAREHOLDERS EQUITY
Retained Earnings -$304.8M -$273.3M
YoY Change 61.36% 63.26%
Common Stock $9.000K $9.000K
YoY Change 50.0% 50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $510.5M $534.9M
YoY Change
Total Liabilities & Shareholders Equity $531.6M $553.8M
YoY Change 60.8% 59.87%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$31.50M -$28.53M
YoY Change 46.71% 24.9%
Depreciation, Depletion And Amortization $500.0K $500.0K
YoY Change 25.0% 150.0%
Cash From Operating Activities -$26.10M -$28.60M
YoY Change 28.99% 25.29%
INVESTING ACTIVITIES
Capital Expenditures $221.0K $297.0K
YoY Change -70.88% -93.2%
Acquisitions
YoY Change
Other Investing Activities $37.59M -$268.0M
YoY Change 794.76% -601.8%
Cash From Investing Activities $37.37M -$268.3M
YoY Change 985.65% -647.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.952M 241.1M
YoY Change 429.0% 1147866.67%
NET CHANGE
Cash From Operating Activities -26.10M -28.60M
Cash From Investing Activities 37.37M -268.3M
Cash From Financing Activities 1.952M 241.1M
Net Change In Cash 13.22M -55.83M
YoY Change -180.5% -312.8%
FREE CASH FLOW
Cash From Operating Activities -$26.10M -$28.60M
Capital Expenditures $221.0K $297.0K
Free Cash Flow -$26.32M -$28.90M
YoY Change 25.38% 6.26%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87567307
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63265800
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001710072
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
70453342
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
93284528
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-40236
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
Edgewise Therapeutics, Inc.
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
82-1725586
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
1715 38th St.
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Boulder
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
CO
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
80301
CY2024Q1 dei City Area Code
CityAreaCode
720
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
262-7002
CY2024Q1 dei Security12b Title
Security12bTitle
Common stock, par value $0.0001 per share
CY2024Q1 dei Trading Symbol
TradingSymbol
EWTX
CY2024Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2024Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
93398767
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30264000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
86097000
CY2024Q1 us-gaap Marketable Securities
MarketableSecurities
502495000
CY2023Q4 us-gaap Marketable Securities
MarketableSecurities
232296000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8668000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8604000
CY2024Q1 us-gaap Assets Current
AssetsCurrent
541427000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
326997000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10184000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10443000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2195000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2247000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
348000
CY2024Q1 us-gaap Assets
Assets
553806000
CY2023Q4 us-gaap Assets
Assets
340035000
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
4723000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
4025000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2924000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5695000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5969000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6071000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
984000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
980000
CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
14600000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
16771000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4265000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4434000
CY2024Q1 us-gaap Liabilities
Liabilities
18865000
CY2023Q4 us-gaap Liabilities
Liabilities
21205000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
93284528
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
70453342
CY2024Q1 us-gaap Common Stock Value
CommonStockValue
9000
CY2023Q4 us-gaap Common Stock Value
CommonStockValue
7000
CY2024Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
809081000
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
563487000
CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-861000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
99000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-273288000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-244763000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
534941000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
318830000
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
553806000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
340035000
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
27694000
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
19876000
CY2024Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7059000
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5828000
CY2024Q1 us-gaap Operating Expenses
OperatingExpenses
34753000
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
25704000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-34753000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-25704000
CY2024Q1 us-gaap Interest Income Other
InterestIncomeOther
6228000
CY2023Q1 us-gaap Interest Income Other
InterestIncomeOther
2866000
CY2024Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
6228000
CY2023Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
2866000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-28525000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-22838000
CY2024Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-960000
CY2023Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1104000
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-29485000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-21734000
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.33
CY2024Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.33
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
-0.36
CY2023Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
-0.36
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87567307
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
87567307
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63265800
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63265800
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
346716000
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
21000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
3837000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1104000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-22838000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
328840000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
318830000
CY2024Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
238799000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1118000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
144000
CY2024Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1926000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
4871000
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-960000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-28525000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
534941000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-28525000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-22838000
CY2024Q1 us-gaap Depreciation
Depreciation
473000
CY2023Q1 us-gaap Depreciation
Depreciation
195000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4871000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3837000
CY2024Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
3150000
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
2075000
CY2024Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
52000
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
46000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
63000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
359000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
780000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-160000
CY2024Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-2770000
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1958000
CY2024Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-102000
CY2023Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
370000
CY2024Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-164000
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
116000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-28598000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-22826000
CY2024Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
327603000
CY2023Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
16958000
CY2024Q1 ewtx Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
885000
CY2023Q1 ewtx Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
607000
CY2024Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
58707000
CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
69761000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
297000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4368000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-268308000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
49042000
CY2024Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
239147000
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1926000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
21000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
241073000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-55833000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
26237000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
86097000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21993000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30264000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48230000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
200000
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">NOTE 1  DESCRIPTION OF BUSINESS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Organization and Description of Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Edgewise Therapeutics, Inc. (the Company) was incorporated as a Delaware corporation in May 2017, and it is headquartered in Boulder, Colorado. The Company is a clinical stage biopharmaceutical company focused on the discovery, development and commercialization of innovative treatments for severe muscle diseases for which there is significant unmet medical need. The Company’s lead product candidate, sevasemten (EDG-5506), is an orally administered small molecule designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy (Duchenne) and Becker muscular dystrophy (Becker). The Company is currently studying sevasemten in Phase 2 trials, which are being held in the U.S. and certain countries in Europe and Australasia. In addition, the Company has initiated a Phase 1 and Phase 2 study of EDG-7500, for the potential treatment of hypertrophic cardiomyopathy (HCM). The Company is using its proprietary drug discovery platform to develop a pipeline of precision medicine product candidates that target key muscle proteins and modulators to address a broad array of serious muscle disorders.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Risks and Uncertainties </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The board of directors of the Company discusses with management macroeconomic and geopolitical developments, including inflation, instability in the banking and financial services sector, tightening of the credit markets, international conflicts, public health pandemics, cybersecurity and sanctions so that the Company can be prepared to react to new developments as they arise.<span style="font-size:12pt;"> </span>The board of directors and the management of the Company are carefully monitoring these developments and the resulting economic impact on its financial condition and results of operations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-size:12pt;margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Liquidity and Capital Resources</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company has an accumulated deficit of $273.3 million and cash, cash equivalents and marketable securities of $532.8 million as of March 31, 2024. The Company’s ability to fund ongoing operations is highly dependent upon raising additional capital through the issuance of equity securities and issuing debt or other financing vehicles.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">On June 16, 2023, the Company entered into a Sales Agreement (Sales Agreement) with BofA Securities, Inc. (BofA Securities) under which the Company could offer and sell shares of common stock, having aggregate sales proceeds of up to $125,000,000 from time to time, through an “at the market offering” program (ATM Program) under which BofA Securities acted as sales agent. Effective January 19, 2024, the Company suspended and terminated the prospectus related to the Company’s common stock (the ATM Prospectus) issuable pursuant to the terms of the Sales Agreement. As of the date of the suspension of the ATM Prospectus, the Company had sold 7,560,068 shares of our common stock at a weighted average price of $7.93 per share. The gross proceeds were $59.9 million, and the net proceeds were $59.4 million after deducting underwriting discounts and commissions of $0.2 million and offering expenses of $0.3 million<span style="font-size:12pt;">. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;background:#ffffff;margin:0pt;">On January 23, 2024, the Company closed an underwritten registered direct offering of 21,818,182 shares of common stock at a public offering price of $11.00 per share (the January 2024 Offering). The aggregate gross proceeds from the January 2024 Offering were $240.0 million, and the net proceeds were $231.9 million after deducting underwriting discounts and commissions of $7.5 million and offering expenses of $0.6 million.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">The Company’s ability to secure capital is dependent upon success in developing its technology and product candidates. The Company cannot provide assurance that additional capital will be available on acceptable terms, if at all. The issuance of additional equity or debt securities will likely result in substantial dilution to the Company’s stockholders. Should additional capital not be available to the Company in the near term, or not be available on acceptable terms, the Company may be unable to realize value from the Company’s assets or discharge liabilities in the normal course of business, which may, among other alternatives, cause the Company to delay, substantially reduce, or </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">discontinue operational activities to conserve cash balances, which could have a material adverse effect on the Company’s ability to achieve its intended business objectives.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The financial statements do not reflect any adjustments relating to the recoverability and reclassification of assets and liabilities that might be necessary if the Company is unable to continue as a going concern. The Company believes that the $532.8 million of cash, cash equivalents and marketable securities on hand as of March 31, 2024 will be sufficient to fund its operations in the normal course of business and meet its liquidity needs through at least the next 12 months from the issuance of these financial statements.</p>
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-273300000
CY2024Q1 ewtx Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
532800000
CY2024Q1 ewtx Underwriting Discounts And Commissions
UnderwritingDiscountsAndCommissions
7500000
CY2024Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
600000
CY2024Q1 ewtx Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
532800000
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</p>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt;"><b style="font-weight:bold;text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Concentrations of Credit Risk</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash, cash equivalents and marketable securities. Periodically, the Company may maintain deposits in financial institutions in excess of government insured limits. The Company believes that it is not exposed to significant credit risk as its deposits are held at financial institutions that management believes to be of high credit quality. The Company has not experienced any losses on deposits since inception. The Company regularly invests excess cash with major financial institutions in money market funds, corporate debt securities, and commercial paper, all of which can be readily purchased and sold using established markets. The Company believes that the market risk arising from our holdings of these financial instruments is mitigated based on the fact that many of these securities are of high credit rating.</p>
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-22838000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
87567307
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63265800
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2023Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2024Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2024Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2024Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
391000000.0
CY2024Q1 ewtx Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date After Year One Through Two
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughTwo
112400000
CY2024Q1 ewtx Shares Authorized Total
SharesAuthorizedTotal
1200000000
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 ewtx Number Of Votes Per Share
NumberOfVotesPerShare
1
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4871000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3837000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-28525000
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15985405
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12493202
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13273000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
13059000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3089000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2616000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10184000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10443000
CY2024Q1 us-gaap Depreciation
Depreciation
500000
CY2023Q1 us-gaap Depreciation
Depreciation
200000
CY2024Q1 ewtx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
5071000
CY2023Q4 ewtx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
5672000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
898000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
399000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5969000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6071000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
ewtx-20240331_cal.xml Edgar Link unprocessable
0001544784-24-000056-index-headers.html Edgar Link pending
0001544784-24-000056-index.html Edgar Link pending
0001544784-24-000056.txt Edgar Link pending
0001544784-24-000056-xbrl.zip Edgar Link pending
ewtx-20240331.xsd Edgar Link pending
ewtx-20240331x10q.htm Edgar Link pending
ewtx-20240331xex10d1.htm Edgar Link pending
ewtx-20240331xex31d1.htm Edgar Link pending
ewtx-20240331xex31d2.htm Edgar Link pending
ewtx-20240331xex32d1.htm Edgar Link pending
ewtx-20240331xex32d2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
ewtx-20240331_def.xml Edgar Link unprocessable
ewtx-20240331_lab.xml Edgar Link unprocessable
ewtx-20240331_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
ewtx-20240331x10q_htm.xml Edgar Link completed
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending