$EWTX
Edgewise Therapeutics Inc

2021 Q3 Form 10-Q Financial Statement

#000155837021010888 Filed on August 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.196M $2.599M $318.0K
YoY Change 689.14% 717.3%
% of Gross Profit
Research & Development $9.880M $7.861M $3.639M
YoY Change 205.13% 116.02%
% of Gross Profit
Depreciation & Amortization $64.00K $51.00K $46.00K
YoY Change 30.61% 10.87%
% of Gross Profit
Operating Expenses $13.08M $10.46M $3.957M
YoY Change 258.93% 164.34%
Operating Profit -$13.08M -$10.46M -$3.957M
YoY Change 258.93% 164.34%
Interest Expense $127.0K $107.0K $3.000K
YoY Change 12600.0% 3466.67%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$12.95M -$10.35M -$3.954M
YoY Change 255.55% 161.84%
Income Tax
% Of Pretax Income
Net Earnings -$12.95M -$10.35M -$3.954M
YoY Change 255.55% 161.84%
Net Earnings / Revenue
Basic Earnings Per Share -$0.26 -$0.21
Diluted Earnings Per Share -$262.8K -$0.21 -$83.12K
COMMON SHARES
Basic Shares Outstanding 49.26M 49.26M
Diluted Shares Outstanding 49.26M 49.26M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.5M $299.2M
YoY Change
Cash & Equivalents $10.57M $50.40M $16.87M
Short-Term Investments $279.9M $248.7M
Other Short-Term Assets $2.758M $3.818M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $293.2M $303.0M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $911.0K $524.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $295.0K $0.00
YoY Change
Total Long-Term Assets $1.206M $524.0K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $293.2M $303.0M
Total Long-Term Assets $1.206M $524.0K
Total Assets $294.4M $303.5M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.292M $2.816M
YoY Change
Accrued Expenses $4.432M $2.550M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.754M $6.739M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $295.0K
YoY Change
Total Long-Term Liabilities $295.0K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.754M $6.739M
Total Long-Term Liabilities $295.0K $0.00
Total Liabilities $9.049M $6.739M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$64.30M -$51.30M
YoY Change
Common Stock $5.000K $5.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $285.4M $296.8M -$23.76M
YoY Change
Total Liabilities & Shareholders Equity $294.4M $303.5M
YoY Change

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$12.95M -$10.35M -$3.954M
YoY Change 255.55% 161.84%
Depreciation, Depletion And Amortization $64.00K $51.00K $46.00K
YoY Change 30.61% 10.87%
Cash From Operating Activities -$8.262M -$9.766M -$3.985M
YoY Change 152.51% 145.07%
INVESTING ACTIVITIES
Capital Expenditures -$451.0K -$78.00K -$188.0K
YoY Change 7416.67% -58.51%
Acquisitions
YoY Change
Other Investing Activities -$31.16M -$159.9M $0.00
YoY Change
Cash From Investing Activities -$31.61M -$160.0M -$188.0K
YoY Change 526700.0% 84990.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.00K -896.0K 135.0K
YoY Change -99.85% -763.7%
NET CHANGE
Cash From Operating Activities -8.262M -9.766M -3.985M
Cash From Investing Activities -31.61M -160.0M -188.0K
Cash From Financing Activities 37.00K -896.0K 135.0K
Net Change In Cash -39.83M -170.6M -4.038M
YoY Change -282.19% 4125.66%
FREE CASH FLOW
Cash From Operating Activities -$8.262M -$9.766M -$3.985M
Capital Expenditures -$451.0K -$78.00K -$188.0K
Free Cash Flow -$7.811M -$9.688M -$3.797M
YoY Change 139.16% 155.15%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
dei Entity Central Index Key
EntityCentralIndexKey
0001710072
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Amendment Flag
AmendmentFlag
false
CY2021Q2 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q2 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
80303
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1009479
dei City Area Code
CityAreaCode
303
us-gaap Net Income Loss
NetIncomeLoss
-7139000
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
49261995
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Local Phone Number
LocalPhoneNumber
735-8373
dei Document Period End Date
DocumentPeriodEndDate
2021-06-30
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q2 us-gaap Preferred Stock Value
PreferredStockValue
dei Document Transition Report
DocumentTransitionReport
false
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
dei Entity File Number
EntityFileNumber
001-40236
dei Entity Registrant Name
EntityRegistrantName
Edgewise Therapeutics, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
82-1725586
dei Entity Address Address Line1
EntityAddressAddressLine1
3415 Colorado Ave.
dei Entity Address City Or Town
EntityAddressCityOrTown
Boulder
dei Entity Address State Or Province
EntityAddressStateOrProvince
CO
dei Security12b Title
Security12bTitle
Common stock, par value $0.0001 per share
dei Trading Symbol
TradingSymbol
EWTX
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2021Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
49261995
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
50404000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
104916000
CY2021Q2 us-gaap Marketable Securities
MarketableSecurities
248747000
CY2020Q4 us-gaap Marketable Securities
MarketableSecurities
24178000
CY2021Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3818000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
551000
CY2021Q2 us-gaap Assets Current
AssetsCurrent
302969000
CY2020Q4 us-gaap Assets Current
AssetsCurrent
129645000
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1084000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
946000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
560000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
430000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
524000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
516000
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
975000
CY2021Q2 us-gaap Assets
Assets
303493000
CY2020Q4 us-gaap Assets
Assets
131136000
CY2021Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
2816000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1580000
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1373000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1175000
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2550000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1587000
CY2021Q2 us-gaap Liabilities Current
LiabilitiesCurrent
6739000
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
4342000
CY2020Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
160214000
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
0
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
88000000
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
49261995
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1009479
CY2021Q2 us-gaap Common Stock Value
CommonStockValue
5000
CY2021Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
348097000
CY2020Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
727000
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-33000
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-51315000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-34147000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
296754000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-33420000
CY2021Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
303493000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
131136000
CY2021Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7861000
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3639000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13221000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6606000
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2599000
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
318000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4096000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
599000
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
10460000
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
3957000
us-gaap Operating Expenses
OperatingExpenses
17317000
us-gaap Operating Expenses
OperatingExpenses
7205000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-10460000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-3957000
us-gaap Operating Income Loss
OperatingIncomeLoss
-17317000
us-gaap Operating Income Loss
OperatingIncomeLoss
-7205000
CY2021Q2 us-gaap Interest Income Other
InterestIncomeOther
107000
CY2020Q2 us-gaap Interest Income Other
InterestIncomeOther
3000
us-gaap Interest Income Other
InterestIncomeOther
149000
us-gaap Interest Income Other
InterestIncomeOther
66000
CY2021Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
107000
CY2020Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
3000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
149000
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
66000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-10353000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-3954000
us-gaap Net Income Loss
NetIncomeLoss
-17168000
us-gaap Net Income Loss
NetIncomeLoss
-7139000
CY2021Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
21000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-33000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-10332000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3954000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-17201000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7139000
CY2021Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.21
CY2020Q2 us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-7.43
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-0.67
us-gaap Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
-14.98
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
49258449
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
532403
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25540922
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
476443
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-16853000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
15000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
45000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-3185000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
-19978000
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
120000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
49000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-3954000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
-23763000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-33420000
CY2021Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
160214000
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
186148000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
25000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
296000
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-54000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-6815000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
306394000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
5000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
687000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
21000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-10353000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
296754000
us-gaap Profit Loss
ProfitLoss
-17168000
us-gaap Profit Loss
ProfitLoss
-7139000
us-gaap Depreciation
Depreciation
130000
us-gaap Depreciation
Depreciation
85000
us-gaap Share Based Compensation
ShareBasedCompensation
983000
us-gaap Share Based Compensation
ShareBasedCompensation
94000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3011000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
79000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1627000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
179000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
198000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
121000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
1415000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
15000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15826000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6724000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
231802000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
7200000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
138000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
186148000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
124000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
197000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-224740000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-197000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
30000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
135000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
186054000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
135000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-54512000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6786000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
104916000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23653000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
50404000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
16867000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
160214000
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 0pt 0pt 36pt;"><b style="font-weight:bold;text-decoration:underline;">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 36pt;">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, rare muscle disorders for which there is significant unmet medical need. The Company’s lead product candidate, EDG-5506, is an orally administered small molecule designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy (DMD) and Becker muscular dystrophy (BMD). 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 genetically defined muscle disorders.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;text-decoration:underline;">Initial Public Offering and Reverse Stock Split</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 36pt;">On March 30, 2021, the Company completed its initial public offering (IPO) in which it issued and sold 12,650,000 shares of common stock at a price of $16.00 per share, including 1,650,000 shares sold pursuant to the underwriters’ full exercise of their option to purchase additional shares. The aggregate net proceeds received by the Company from the IPO was $186.1 million after deducting underwriting discounts and commissions of $14.2 million and offering expenses of approximately $2.1 million. In addition, in connection with the IPO, all shares of convertible preferred stock outstanding at the time of the IPO converted into 35,557,569 shares of common stock. On March 19, 2021, the Company amended its certificate of incorporation to effect a 1-for-<span style="-sec-ix-hidden:Hidden_cK4EaYe82U6K7Mr2b1bmmg;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:left;">1.8932</span></span> reverse stock split of its issued and outstanding common and convertible preferred stock. The accompanying financial statements and related notes give retroactive effect to the reverse stock split for all periods presented.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Risks and Uncertainties </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 0pt 36pt;">In March 2020, the World Health Organization declared the novel coronavirus disease (COVID-19) outbreak a pandemic. The Company cannot at this time predict the specific extent, duration, or full impact that the COVID-19 outbreak will have on its financial condition and operations. Beginning the week of March 16, 2020, the majority of the Company’s workforce began working from home. Disruptions caused by the COVID-19 pandemic, including the effects of the stay-at-home orders and work-from-home policies, have impacted productivity, have resulted in increased operational expenses, certain adjustments to the operations of the Company’s clinical trial, the suspension of enrollment of new patients at the Company’s clinical trial site, and delays in certain supply chain activities and collecting and analyzing data from patients in the Company’s clinical trial, and may further disrupt the business and delay the development programs and regulatory timelines, the magnitude of which will depend, in part, on the length and severity of the restrictions and other limitations on the Company’s ability to conduct business in the ordinary course. As a result, research and development expenses and general and administrative expenses may vary significantly if there is an increased impact from COVID-19 on the costs and timing associated with the conduct of the clinical trial and other related business activities. The Company is carefully monitoring the pandemic and the potential length and depth of 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 0pt 12pt 0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;text-decoration:underline;">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 36pt;">The Company has an accumulated deficit of $51.3 million and, cash, cash equivalents and marketable securities of $299.2 million as of June 30, 2021. 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. 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.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 36pt;">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 $299.2 million of cash, cash equivalents and marketable securities on hand as of June 30, 2021 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>
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-51300000
CY2021Q2 ewtx Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
299200000
CY2021Q2 ewtx Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
299200000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;text-decoration:underline;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 36pt;">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>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 0pt 36pt;"><b style="font-weight:bold;text-decoration:underline;">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 36pt;">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>
CY2021Q2 us-gaap Depreciation
Depreciation
51000
us-gaap Depreciation
Depreciation
130000
CY2020Q2 us-gaap Depreciation
Depreciation
46000
us-gaap Depreciation
Depreciation
85000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020Q2 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q2 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
135100000
CY2021Q2 ewtx Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date After Year One Through Three
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree
113700000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-3954000
us-gaap Net Income Loss
NetIncomeLoss
-17168000
CY2021Q2 ewtx Shares Authorized Total
SharesAuthorizedTotal
1200000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2021Q2 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
200000000
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 ewtx Number Of Votes Per Share
NumberOfVotesPerShare
1
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
1
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
687000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
49000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
983000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
94000
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
22000
us-gaap Operating Lease Expense
OperatingLeaseExpense
44000
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
17000
us-gaap Operating Lease Expense
OperatingLeaseExpense
33000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
13000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-10353000
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
49258449
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
532403
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25540922
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
476443
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.21
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-7.43
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.67
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-14.98
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7649179
CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19778888
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24995136
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19793922
CY2021Q2 ewtx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
2007000
CY2020Q4 ewtx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
550000
CY2020Q4 ewtx Accrued Issuance Cost Current
AccruedIssuanceCostCurrent
452000
CY2021Q2 ewtx Accrued License Fees Current
AccruedLicenseFeesCurrent
300000
CY2020Q4 ewtx Accrued License Fees Current
AccruedLicenseFeesCurrent
300000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
243000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
285000
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2550000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1587000

Files In Submission

Name View Source Status
0001558370-21-010888-index-headers.html Edgar Link pending
0001558370-21-010888-index.html Edgar Link pending
0001558370-21-010888.txt Edgar Link pending
0001558370-21-010888-xbrl.zip Edgar Link pending
ewtx-20210630.xsd Edgar Link pending
ewtx-20210630x10q.htm Edgar Link pending
ewtx-20210630x10q_htm.xml Edgar Link completed
ewtx-20210630xex31d1.htm Edgar Link pending
ewtx-20210630xex31d2.htm Edgar Link pending
ewtx-20210630xex32d1.htm Edgar Link pending
ewtx-20210630_cal.xml Edgar Link unprocessable
ewtx-20210630_def.xml Edgar Link unprocessable
ewtx-20210630_lab.xml Edgar Link unprocessable
ewtx-20210630_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
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
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
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending