2022 Q1 Form 10-K Financial Statement

#000095017022005243 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021
Revenue $354.0K $806.0K $18.53M
YoY Change -90.04% -55.4% 140.08%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.404M $5.065M $21.24M
YoY Change 106.68% -20.51% 51.59%
% of Gross Profit
Research & Development $15.53M $14.80M $57.28M
YoY Change 19.69% 72.73% 72.82%
% of Gross Profit
Depreciation & Amortization $1.331M $678.0K $2.301M
YoY Change 261.68% 213.89% 191.27%
% of Gross Profit
Operating Expenses $24.93M $19.87M $78.52M
YoY Change 42.26% 32.99% 66.51%
Operating Profit -$24.58M -$59.99M
YoY Change 75.9% 52.11%
Interest Expense $13.00K $8.000K $22.00K
YoY Change 700.0% -80.0%
% of Operating Profit
Other Income/Expense, Net $13.00K -$29.00K $1.825M
YoY Change -285.71% -154.72% 1821.05%
Pretax Income -$24.57M -$19.06M -$58.16M
YoY Change 75.72% 45.56% 47.84%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$24.57M -$19.06M -$58.16M
YoY Change 75.72% 45.56% 47.84%
Net Earnings / Revenue -6939.83% -2364.14% -313.84%
Basic Earnings Per Share -$0.52 -$1.48
Diluted Earnings Per Share -$516.9K -$400.5K -$1.484M
COMMON SHARES
Basic Shares Outstanding 47.53M 47.48M 39.20M
Diluted Shares Outstanding 47.53M 39.20M

Balance Sheet

Concept 2022 Q1 2021 Q4 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.9M $133.5M $133.5M
YoY Change -44.6% 33.88%
Cash & Equivalents $106.9M $133.5M $133.5M
Short-Term Investments
Other Short-Term Assets $15.55M $8.576M $8.576M
YoY Change 418.2% 58.81%
Inventory
Prepaid Expenses
Receivables $200.0K $494.0K $494.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $122.6M $142.6M $142.6M
YoY Change -38.16% 34.27% 34.23%
LONG-TERM ASSETS
Property, Plant & Equipment $19.41M $19.64M $24.69M
YoY Change 18.06% 180.34% 252.69%
Goodwill $18.06M $18.06M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.542M $4.905M $7.173M
YoY Change 2002.78% 2352.5% 497.75%
Total Long-Term Assets $81.98M $82.82M $82.82M
YoY Change 21.26% 39.96% 40.13%
TOTAL ASSETS
Total Short-Term Assets $122.6M $142.6M $142.6M
Total Long-Term Assets $81.98M $82.82M $82.82M
Total Assets $204.6M $225.4M $225.4M
YoY Change -23.06% 36.31% 36.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.765M $3.737M $3.737M
YoY Change 22.87% 42.58% 43.73%
Accrued Expenses $12.02M $11.05M $11.05M
YoY Change 155.79% 112.56%
Deferred Revenue $0.00
YoY Change -100.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.79M $14.79M $14.79M
YoY Change 45.94% 28.77% 28.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $7.000K
YoY Change -100.0% -100.0% -99.61%
Other Long-Term Liabilities $0.00 $7.000K $4.887M
YoY Change -100.0% -96.83% -56.37%
Total Long-Term Liabilities $0.00 $7.000K $4.894M
YoY Change -100.0% -99.66% -62.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.79M $14.79M $14.79M
Total Long-Term Liabilities $0.00 $7.000K $4.894M
Total Liabilities $24.84M $23.15M $23.15M
YoY Change -6.24% -17.35% -17.34%
SHAREHOLDERS EQUITY
Retained Earnings -$185.6M -$161.0M
YoY Change 58.85% 56.56%
Common Stock $365.4M $363.2M
YoY Change 2.55% 5003.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $179.8M $202.2M $202.2M
YoY Change
Total Liabilities & Shareholders Equity $204.6M $225.4M $225.4M
YoY Change -23.06% 36.31% 36.34%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021
OPERATING ACTIVITIES
Net Income -$24.57M -$19.06M -$58.16M
YoY Change 75.72% 45.56% 47.84%
Depreciation, Depletion And Amortization $1.331M $678.0K $2.301M
YoY Change 261.68% 213.89% 191.27%
Cash From Operating Activities -$25.65M -$13.79M -$67.13M
YoY Change 68.57% 34.09% 114.28%
INVESTING ACTIVITIES
Capital Expenditures $909.0K -$2.002M -$15.98M
YoY Change -89.71% -6.71% 507.72%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $62.00K
YoY Change -100.0%
Cash From Investing Activities -$909.0K -$2.002M -$15.92M
YoY Change -89.7% -6.71% 504.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.000K 70.00K 119.1M
YoY Change -100.0% -130.57% 30.21%
NET CHANGE
Cash From Operating Activities -25.65M -13.79M -67.13M
Cash From Investing Activities -909.0K -2.002M -15.92M
Cash From Financing Activities 5.000K 70.00K 119.1M
Net Change In Cash -26.55M -15.72M 36.06M
YoY Change -128.45% 24.19% -37.31%
FREE CASH FLOW
Cash From Operating Activities -$25.65M -$13.79M -$67.13M
Capital Expenditures $909.0K -$2.002M -$15.98M
Free Cash Flow -$26.56M -$11.78M -$51.15M
YoY Change 10.42% 44.85% 78.23%

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IncreaseDecreaseInDeferredLiabilities
0
CY2020 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
309000
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1006000
CY2020 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
0
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-67133000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-31329000
CY2021 fnch Payments To Acquire Property And Equipment Purchases From Related Party
PaymentsToAcquirePropertyAndEquipmentPurchasesFromRelatedParty
15983000
CY2020 fnch Payments To Acquire Property And Equipment Purchases From Related Party
PaymentsToAcquirePropertyAndEquipmentPurchasesFromRelatedParty
2633000
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
62000
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-15921000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2633000
CY2021 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
118576000
CY2020 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0
CY2021 fnch Proceeds From Issuance Of Series D Convertible Preferred Stock
ProceedsFromIssuanceOfSeriesDConvertiblePreferredStock
0
CY2020 fnch Proceeds From Issuance Of Series D Convertible Preferred Stock
ProceedsFromIssuanceOfSeriesDConvertiblePreferredStock
90000000
CY2021 fnch Payment Of Redeemable Convertible Preferred Stock Issuance Costs
PaymentOfRedeemableConvertiblePreferredStockIssuanceCosts
0
CY2020 fnch Payment Of Redeemable Convertible Preferred Stock Issuance Costs
PaymentOfRedeemableConvertiblePreferredStockIssuanceCosts
96000
CY2021 fnch Proceeds From Underwriters Exercise Of Overallotment Option Net Of Underwriting Discounts And Commissions And Initial Public Offering Costs
ProceedsFromUnderwritersExerciseOfOverallotmentOptionNetOfUnderwritingDiscountsAndCommissionsAndInitialPublicOfferingCosts
3049000
CY2020 fnch Proceeds From Underwriters Exercise Of Overallotment Option Net Of Underwriting Discounts And Commissions And Initial Public Offering Costs
ProceedsFromUnderwritersExerciseOfOverallotmentOptionNetOfUnderwritingDiscountsAndCommissionsAndInitialPublicOfferingCosts
0
CY2021 fnch Principal Payments On Capital Lease Obligation
PrincipalPaymentsOnCapitalLeaseObligation
27000
CY2020 fnch Principal Payments On Capital Lease Obligation
PrincipalPaymentsOnCapitalLeaseObligation
47000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
171000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
59000
CY2021 fnch Proceeds From Paycheck Protection Program Loan
ProceedsFromPaycheckProtectionProgramLoan
0
CY2020 fnch Proceeds From Paycheck Protection Program Loan
ProceedsFromPaycheckProtectionProgramLoan
1808000
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2659000
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
249000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
119110000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
91475000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
36056000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
57513000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
99909000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
42396000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
135965000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
99909000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
9000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
11000
CY2021 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
1434000
CY2020 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
0
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
381000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1398000
CY2021 us-gaap Stock Issued1
StockIssued1
233053000
CY2020 us-gaap Stock Issued1
StockIssued1
0
CY2021 fnch Operating Right Of Use Assets Obtained In Exchange For New Operating Leases Upon Adoption Of Asc842
OperatingRightOfUseAssetsObtainedInExchangeForNewOperatingLeasesUponAdoptionOfAsc842
5965000
CY2020 fnch Operating Right Of Use Assets Obtained In Exchange For New Operating Leases Upon Adoption Of Asc842
OperatingRightOfUseAssetsObtainedInExchangeForNewOperatingLeasesUponAdoptionOfAsc842
0
CY2021 fnch Deferred Initial Public Offering Costs In Accounts Payable And Accrued Expenses
DeferredInitialPublicOfferingCostsInAccountsPayableAndAccruedExpenses
0
CY2020 fnch Deferred Initial Public Offering Costs In Accounts Payable And Accrued Expenses
DeferredInitialPublicOfferingCostsInAccountsPayableAndAccruedExpenses
764000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
133481000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
99710000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2484000
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
199000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
135965000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
99909000
CY2021 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">1. NATURE OF OPERATIONS</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Business</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Finch Therapeutics Group, Inc. (the “Company” or “FTG”) was incorporated in 2017 as a Delaware corporation. The Company was formed as a result of a merger and recapitalization of Finch Therapeutics, Inc. (“Finch”) and Crestovo Holdings LLC (“Crestovo”) in September 2017 (the “Merger”), in which the former owners of Finch and Crestovo were issued equivalent stakes in the newly formed company, FTG. Crestovo was renamed Finch Therapeutics Holdings LLC in November 2020 (“Finch Holdings”). Finch and Finch Holdings are both wholly-owned subsidiaries of FTG.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company is a clinical-stage microbiome therapeutics company leveraging its Human-First Discovery platform to develop a novel class of orally administered biological drugs. It is developing novel therapeutics designed to deliver missing microbes and their clinically relevant biochemical functions to correct dysbiosis and the diseases that emerge from it. The Company’s Human-First Discovery platform uses reverse translation to identify diseases of dysbiosis and to design microbiome therapeutics that address them. Its lead product candidate, CP101, </span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">is an orally administered complete microbiome therapeutic in development for the prevention of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">recurrent </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Clostridioides difficile </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">infection, or CDI.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Initial Public Offering</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">On March 18, 2021, the Company completed its initial public offering (“IPO”) in which the Company issued and sold </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">7,500,000</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> shares of its common stock at a public offering price of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">17.00</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> per share, for aggregate gross proceeds of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">127.5</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million and proceeds of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">115.7</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million after deducting underwriting discounts and commissions of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">8.9</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million and offering costs of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">2.9</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million. On April 20, 2021, the Company issued </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">192,877</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> additional shares of common stock, pursuant to the underwriters’ partial exercise of their overallotment option, at a public offering price of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">17.00</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> per share for aggregate gross proceeds of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">3.3</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million and net proceeds of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">3.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million after deducting underwriting discounts, commissions and offering costs.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">In connection with the IPO, the Company’s board of directors (the “Board”) and stockholders approved an amended and restated certificate of incorporation to, among other things, effect a </span><span style="font-size:10.0pt;font-family:Times New Roman;"><span style="-sec-ix-hidden:F_7ea1798d-7710-41a8-88de-a9818d271ecd;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">one-for-14.444</span></span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> reverse stock split of the Company’s issued and outstanding shares of common stock and redeemable convertible preferred stock, as well as to effect a proportional adjustment to the existing conversion ratios for the Company’s redeemable convertible preferred stock. The reverse stock split was effected on March 12, 2021. Accordingly, all share and per share amounts of common stock for all periods presented in the accompanying audited consolidated financial statements and notes thereto have been retroactively adjusted, where applicable, to reflect this reverse stock split and adjustment of preferred stock conversion ratios. Upon the closing of the IPO, all of the then-outstanding shares of redeemable convertible preferred stock automatically converted into </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">31,253,609</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> shares of common stock at the applicable conversion ratio then in effect. Subsequent to the closing of the IPO, there were </span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> shares of convertible preferred stock outstanding.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Risks and Uncertainties</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company is subject to a number of risks similar to other companies in its industry, including rapid technological change, the risk that its products will fail to demonstrate efficacy in clinical trials, uncertainty of market acceptance of its products, competition from larger pharmaceutical and biotechnology companies and dependence on key personnel.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The extent of the impact of the COVID-19 pandemic on the Company’s business, operations and clinical development timelines and plans remains uncertain, and will depend on certain developments, including the duration and spread of the outbreak, including with respect to variants of the virus, and its impact on clinical trial enrollment, trial sites, contract research organizations, contract manufacturing organizations, and other third parties with whom the Company does business, as well as its impact on regulatory authorities and its key scientific and management personnel. While the Company is experiencing limited financial impacts at this time, given the global economic slowdown, the overall disruption of global healthcare systems and the other risks and uncertainties associated with the pandemic, the Company’s business, financial condition and results of operations ultimately could be materially adversely affected. The Company continues to closely</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">monitor the COVID-19 pandemic as it evolves its business continuity plans, clinical development plans and response strategy.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">At this time, it is unknown how long the adverse conditions associated with the COVID-19 pandemic will last and what the complete financial effect will be to the Company.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Liquidity</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company has incurred recurring losses since its inception, including net losses of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">$</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">58.2</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> and </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">$</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">39.3</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> for the years ended December 31, 2021 and 2020, respectively. In addition, as of December 31, 2021, the Company had an accumulated deficit of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">$</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">161.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">. The Company expects to continue to generate operating losses for the foreseeable future as it continues to develop its product candidates. The Company expects that its cash and cash equivalents of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">$</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">133.5</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> million</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> as of December 31, 2021, will be sufficient to fund its operating expenses and capital expenditure requirements for at least twelve months beyond the date of issuance the annual consolidated financial statements.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The Company will not generate any future revenue from product sales unless and until it successfully completes clinical development and obtains regulatory approval for one or more of its product candidates. If the Company obtains regulatory approval for any of its product candidates, it expects to incur significant expenses related to developing its internal commercialization capability to support manufacturing, product sales, marketing and distribution. As a result, the Company will need substantial additional funding to support its operating activities as it advances its product candidates through clinical development, seeks regulatory approval, and if any of its product candidates are approved, proceeds to commercialization.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Until such time as the Company can generate significant revenue from product sales, if ever, the Company expects to finance its operating activities through a combination of equity offerings, debt financings, and license and development agreements in connection with any future collaborations. Adequate funding may not be available to the Company on acceptable terms, or at all. If the Company is unable to obtain funding, the Company will be forced to delay, reduce or eliminate some or all of its research and development programs, product portfolio expansion or commercialization efforts, which could adversely affect its business prospects, or the Company may be unable to continue operations. Although management continues to pursue these plans, there is no assurance that the Company will be successful in obtaining sufficient funding on terms acceptable to the Company to fund continuing operations, if at all</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">.</span></p>
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-58200000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-39300000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-161000000.0
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
133500000
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses, and the disclosure of contingent assets and liabilities as of and during the reporting period. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements if these results differ from historical experience, or other assumptions do not turn out to be substantially accurate, even if such assumptions are reasonable when made. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the pattern and method of recognizing revenue, the accrual of research and development costs, and the annual assessment of impairment of goodwill and in-process research and development assets. The Company assesses estimates on an ongoing basis; however, actual results could materially differ from those estimates.</span>
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
133500000
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
99700000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
2500000
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
200000
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;">Concentrations of Credit Risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;"> </span></p><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents. 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 and the Company has not experienced any losses on these deposits. As of December 31, 2021 and 2020, the Company’s cash and cash equivalents were held with one financial institution. The Company believes that the market risk arising from its holdings of these financial instruments is mitigated based on the fact that many of these securities are either government-backed or of high credit rating.</span>
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
CY2020 us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
0
CY2021Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2020Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
1000000.0
CY2016Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5800000
CY2016Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
900000
CY2016Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5900000
CY2021Q4 fnch Derecognition Of Deferred Rent Liabilities
DerecognitionOfDeferredRentLiabilities
800000
CY2021Q4 fnch Unamortization Of Lease Incentives
UnamortizationOfLeaseIncentives
200000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.50
CY2021 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
18532000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7719000
CY2021Q4 fnch Transfers Between Fair Value Levels
TransfersBetweenFairValueLevels
0
CY2020Q4 fnch Transfers Between Fair Value Levels
TransfersBetweenFairValueLevels
0
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
23861000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9033000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4226000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2029000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19635000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7004000
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
2300000
CY2020 us-gaap Depreciation And Amortization
DepreciationAndAmortization
800000
CY2021Q1 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The lease term is from March 2021 through February 2023
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
5053000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
22000
CY2021Q4 fnch Lease Assets
LeaseAssets
5075000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1128000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
19000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4887000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
7000
CY2021Q4 fnch Lease Liabilities
LeaseLiabilities
6041000
CY2021 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
27000
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
10000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
1336000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
254000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
525000
CY2021 us-gaap Sublease Income
SubleaseIncome
88000
CY2021 us-gaap Lease Cost
LeaseCost
2064000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y7M6D
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y2M12D
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.067
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.306
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1006000
CY2021 fnch Principal Payments On Capital Lease Obligation
PrincipalPaymentsOnCapitalLeaseObligation
27000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1487000
CY2021Q4 fnch Hood Park Lease Future Minimum Payments Due Current
HoodParkLeaseFutureMinimumPaymentsDueCurrent
4535000
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
24000
CY2021Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due Current
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueCurrent
6046000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1440000
CY2021Q4 fnch Hood Park Lease Future Minimum Payments Due In Two Years
HoodParkLeaseFutureMinimumPaymentsDueInTwoYears
4663000
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
6000
CY2021Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due In Two Years
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueInTwoYears
6109000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1460000
CY2021Q4 fnch Hood Park Lease Future Minimum Payments Due In Three Years
HoodParkLeaseFutureMinimumPaymentsDueInThreeYears
4795000
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
0
CY2021Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due In Three Years
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueInThreeYears
6255000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1496000
CY2021Q4 fnch Hood Park Lease Future Minimum Payments Due In Four Years
HoodParkLeaseFutureMinimumPaymentsDueInFourYears
4931000
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
0
CY2021Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due In Four Years
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueInFourYears
6427000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1116000
CY2021Q4 fnch Hood Park Lease Future Minimum Payments Due In Five Years
HoodParkLeaseFutureMinimumPaymentsDueInFiveYears
5071000
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
0
CY2021Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due In Five Years
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueInFiveYears
6187000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
0
CY2021Q4 fnch Hood Park Lease Future Minimum Payments Due Thereafter
HoodParkLeaseFutureMinimumPaymentsDueThereafter
27605000
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Due Thereafter
CapitalLeasesFutureMinimumPaymentsDueThereafter
0
CY2021Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due Thereafter
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueThereafter
27605000
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
6999000
CY2021Q4 fnch Hood Park Lease Future Minimum Payments Due
HoodParkLeaseFutureMinimumPaymentsDue
51600000
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Due
CapitalLeasesFutureMinimumPaymentsDue
30000
CY2021Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDue
58629000
CY2021Q4 fnch Interest Portion Of Operating Leases Future Minimum Payments Due
InterestPortionOfOperatingLeasesFutureMinimumPaymentsDue
984000
CY2021Q4 fnch Hood Park Lease Future Minimum Payments Interest Included In Payments
HoodParkLeaseFutureMinimumPaymentsInterestIncludedInPayments
0
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Interest Included In Payments
CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
5000
CY2021Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Interest Included In Payments
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsInterestIncludedInPayments
989000
CY2021Q4 fnch Present Value Of Future Minimum Lease Payments
PresentValueOfFutureMinimumLeasePayments
6015000
CY2021Q4 fnch Hood Park Lease Future Minimum Payments Present Value Of Net Minimum Payments
HoodParkLeaseFutureMinimumPaymentsPresentValueOfNetMinimumPayments
51600000
CY2021Q4 us-gaap Capital Leases Future Minimum Payments Present Value Of Net Minimum Payments
CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments
25000
CY2021Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Present Value Of Net Minimum Payments
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsPresentValueOfNetMinimumPayments
57640000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1351000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due Current
CapitalLeasesFutureMinimumPaymentsDueCurrent
36000
CY2020Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due Current
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueCurrent
1387000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1387000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Two Years
CapitalLeasesFutureMinimumPaymentsDueInTwoYears
24000
CY2020Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due In Two Years
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueInTwoYears
1411000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1424000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Three Years
CapitalLeasesFutureMinimumPaymentsDueInThreeYears
6000
CY2020Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due In Three Years
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueInThreeYears
1430000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1460000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Four Years
CapitalLeasesFutureMinimumPaymentsDueInFourYears
0
CY2020Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due In Four Years
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueInFourYears
1460000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1496000
CY2020Q4 us-gaap Capital Leases Future Minimum Payments Due In Five Years
CapitalLeasesFutureMinimumPaymentsDueInFiveYears
0
CY2020Q4 fnch Operating And Finance Lease Obligation Future Minimum Payments Due In Five Years
OperatingAndFinanceLeaseObligationFutureMinimumPaymentsDueInFiveYears
1496000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1115000
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