$FNCH
Finch Therapeutics Group, Inc.

2024 Q1 Form 10-K Financial Statement

#000095017024035952 Filed on March 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $107.0K
YoY Change -100.0% -100.0% -87.57%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.164M $4.681M $26.91M
YoY Change -46.3% -57.2% -29.35%
% of Gross Profit
Research & Development $0.00 $0.00 $7.199M
YoY Change -100.0% -100.0% -87.56%
% of Gross Profit
Depreciation & Amortization $43.00K $40.00K $1.520M
YoY Change -96.85% -97.16% -72.4%
% of Gross Profit
Operating Expenses $5.198M $4.681M $34.11M
YoY Change -92.3% -82.99% -70.71%
Operating Profit -$5.198M -$83.86M
YoY Change -92.28% -27.45%
Interest Expense $280.0K $333.0K $1.570M
YoY Change -34.12% 28.57% 523.02%
% of Operating Profit
Other Income/Expense, Net $1.322M $1.000M $4.053M
YoY Change -5388.0% 105.76% 327.98%
Pretax Income -$3.876M -$3.041M -$78.22M
YoY Change -94.25% -88.74% -31.78%
Income Tax $0.00 $0.00 -$3.461M
% Of Pretax Income
Net Earnings -$3.876M -$3.041M -$74.75M
YoY Change -93.94% -88.74% -34.8%
Net Earnings / Revenue -69863.55%
Basic Earnings Per Share -$2.41 -$46.59
Diluted Earnings Per Share -$2.41 -$1.89 -$46.59
COMMON SHARES
Basic Shares Outstanding 1.606M 1.606M 1.605M
Diluted Shares Outstanding 1.606M 1.605M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $20.76M $25.12M $25.12M
YoY Change -50.19% -64.63% -64.63%
Cash & Equivalents $20.76M $25.12M $25.12M
Short-Term Investments
Other Short-Term Assets $413.0K $723.0K $723.0K
YoY Change -74.28% -78.54% -78.54%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $21.18M $25.85M $25.85M
YoY Change -51.21% -65.33% -65.33%
LONG-TERM ASSETS
Property, Plant & Equipment $551.0K $27.18M $27.18M
YoY Change -55.85% 70.54% -44.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.348M $2.348M $2.348M
YoY Change 1074.0% -44.52% -65.47%
Total Long-Term Assets $28.92M $29.53M $29.53M
YoY Change -18.87% -66.6% -66.6%
TOTAL ASSETS
Total Short-Term Assets $21.18M $25.85M $25.85M
Total Long-Term Assets $28.92M $29.53M $29.53M
Total Assets $50.09M $55.37M $55.37M
YoY Change -36.62% -66.02% -66.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $47.00K $141.0K $141.0K
YoY Change -98.16% -87.15% -87.15%
Accrued Expenses $3.386M $3.943M $3.265M
YoY Change -68.22% -70.99% -75.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.499M $4.084M $4.084M
YoY Change -73.5% -72.2% -72.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $27.56M $28.40M $28.40M
YoY Change 16607.65% -17.49%
Total Long-Term Liabilities $27.56M $28.40M $28.40M
YoY Change 91.61% -42.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.499M $4.084M $4.084M
Total Long-Term Liabilities $27.56M $28.40M $28.40M
Total Liabilities $31.05M $32.49M $32.49M
YoY Change -32.62% -51.68% -51.68%
SHAREHOLDERS EQUITY
Retained Earnings -$354.3M -$350.4M
YoY Change 4.33% 27.14%
Common Stock $373.3M $373.3M
YoY Change 0.21% 0.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.04M $22.89M $22.89M
YoY Change
Total Liabilities & Shareholders Equity $50.09M $55.37M $55.37M
YoY Change -36.62% -66.02% -66.02%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$3.876M -$3.041M -$74.75M
YoY Change -93.94% -88.74% -34.8%
Depreciation, Depletion And Amortization $43.00K $40.00K $1.520M
YoY Change -96.85% -97.16% -72.4%
Cash From Operating Activities -$4.362M -$3.705M -$31.51M
YoY Change -67.4% -74.04% -57.91%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$10.00K $0.00
YoY Change -100.0% -119.61% -100.0%
Acquisitions
YoY Change
Other Investing Activities $37.00K $1.327M
YoY Change
Cash From Investing Activities $0.00 $47.00K $1.327M
YoY Change -100.0% -192.16% -160.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 5.000K -16.16M
YoY Change -100.0% -90.38% -208.62%
NET CHANGE
Cash From Operating Activities -4.362M -3.705M -31.51M
Cash From Investing Activities 0.000 47.00K 1.327M
Cash From Financing Activities 0.000 5.000K -16.16M
Net Change In Cash -4.362M -3.653M -46.33M
YoY Change -85.24% -74.4% -25.46%
FREE CASH FLOW
Cash From Operating Activities -$4.362M -$3.705M -$31.51M
Capital Expenditures $0.00 -$10.00K $0.00
Free Cash Flow -$4.362M -$3.695M -$31.51M
YoY Change -67.44% -74.2% -59.1%

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CY2022 us-gaap Increase Decrease In Operating Lease Liability
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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0
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Proceeds From Stock Options Exercised
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CY2022 us-gaap Proceeds From Stock Options Exercised
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CY2023 us-gaap Proceeds From Lines Of Credit
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CY2022 us-gaap Proceeds From Lines Of Credit
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CY2023 us-gaap Repayments Of Lines Of Credit
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CY2022 us-gaap Repayments Of Lines Of Credit
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CY2023 fnch Payment Of Loan Prepayment And Termination Fee
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CY2022 fnch Payment Of Loan Prepayment And Termination Fee
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CY2023 fnch Principal Payments On Capital Lease Obligation
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CY2022 fnch Principal Payments On Capital Lease Obligation
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CY2023 us-gaap Payments Of Stock Issuance Costs
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CY2022 us-gaap Payments Of Stock Issuance Costs
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
27472000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
73805000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
202000
CY2022 us-gaap Interest Paid Net
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CY2023 fnch Payments For Proceeds From Operating Lease Liabilities
PaymentsForProceedsFromOperatingLeaseLiabilities
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CY2022 fnch Payments For Proceeds From Operating Lease Liabilities
PaymentsForProceedsFromOperatingLeaseLiabilities
-268000
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
14000
CY2023 fnch Remeasurement Of Right Of Use Asset
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40000
CY2022 fnch Remeasurement Of Right Of Use Asset
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382000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
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CY2023 fnch Prepaid Rent Reclassified To Right Of Use Assets
PrepaidRentReclassifiedToRightOfUseAssets
0
CY2022 fnch Prepaid Rent Reclassified To Right Of Use Assets
PrepaidRentReclassifiedToRightOfUseAssets
7736000
CY2023 fnch Prepaid Rent Reclassified To Operating Lease Liability
PrepaidRentReclassifiedToOperatingLeaseLiability
525000
CY2022 fnch Prepaid Rent Reclassified To Operating Lease Liability
PrepaidRentReclassifiedToOperatingLeaseLiability
0
CY2023 fnch Right Of Use Assets And Operating Lease Liability Reduced For Lease Termination
RightOfUseAssetsAndOperatingLeaseLiabilityReducedForLeaseTermination
3561000
CY2022 fnch Right Of Use Assets And Operating Lease Liability Reduced For Lease Termination
RightOfUseAssetsAndOperatingLeaseLiabilityReducedForLeaseTermination
0
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. NATURE OF OPERATIONS</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Business</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is a microbiome technology company with a portfolio of intellectual property and microbiome assets. Presently, the Company’s objectives are to realize the value of its intellectual property estate through licensing its technology to collaboration partners and enforcing its patents rights against infringing parties and, in certain cases, to generate additional data on selected product candidates through academic collaborations. The Company has an intellectual property estate including more than 113 issued U.S. and foreign patents with relevance for both donor-derived and donor-independent microbiome therapeutics in a range of potential indications. Until January 2023, the Company was using its </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Human-First Discovery</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> platform to develop a novel class of orally administered biological drugs.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Risks and Uncertainties</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is subject to a number of risks, including risks related to litigation outcomes, government regulation, intellectual property and dependence on key personnel.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Liquidity</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company has incurred recurring losses since its inception, including net losses of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">74.8</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> and </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">114.6</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> for the years ended December 31, 2023 and 2022, respectively. In addition, as of December 31, 2023, the Company had an accumulated deficit of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">350.4</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. The Company expects to continue to generate operating losses for the foreseeable future as it attempts to realize the value of its intellectual property estate and other assets.</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On January 24, 2023, the Company announced its decision to discontinue its Phase 3 clinical trial of CP101 in recurrent CDI. As a result of this decision, the Company approved and implemented a restructuring plan (the "January 2023 Restructuring") (see Note 7). Also on January 24, 2023, the Company announced its decision to shift the Company’s business strategy to focus on realizing the value of the Company’s intellectual property estate and other assets.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company currently forecasts that its unrestricted cash and cash equivalents of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">25.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> as of December 31, 2023, will be sufficient to fund its operating expenses and capital expenditure requirements for at least twelve months beyond the date of issuance of the annual consolidated financial statements. However, due to the consideration of certain qualitative factors, including the Company’s recurring losses from operations incurred since inception, the expectation of continuing operating losses for the foreseeable future, and uncertainty around its ability to successfully realize the full value of its intellectual property estate and other assets, the Company has concluded that there is substantial doubt regarding the Company’s ability to continue as a going concern within one year after the date that these consolidated financial statements are issued. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company does not currently expect to progress any product candidate through clinical trials or commercial approval and it does not currently expect to generate any revenue from product sales. The Company may never succeed in realizing the value of its intellectual property estate and other assets and, even if it does, it may never generate revenue that is significant or large enough to achieve profitability.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As a result, the Company may need additional funding to support its operating activities as it seeks to realize value from its intellectual property estate and other assets. Until such time, if ever, that the Company can generate substantial revenue, the Company expects to finance its cash needs through equity offerings, debt financings or other capital sources, including collaborations, licenses or similar arrangements. However, the Company may be unable to raise additional funds or enter into such other arrangements when needed or on favorable terms, if at all. If the Company is unable to obtain funding as needed, it may decide to pursue a dissolution and liquidation.</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reverse Stock Split</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On June 9, 2023, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation with the Secretary of State of the State of Delaware to effect a reverse stock split of the Company’s issued and outstanding common stock, par value $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.001</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">at a ratio of 1-for-30 (the “Reverse Stock Split”). The Reverse Stock Split was reflected on</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">the </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Nasdaq Global Select Market beginning with the opening of trading on June 12, 2023. Pursuant to the Reverse Stock Split, every </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">30</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of the Company</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">’s issued and outstanding shares of common stock were automatically combined into one issued and outstanding share of common stock, without any change in the par value per share of the common stock. The Reverse Stock Split did not change the total number of shares the Company is authorized to issue. The Reverse Stock Split affected all issued and outstanding shares of the Company’s common stock, and the respective numbers of shares of common stock underlying the Company’s outstanding stock options, outstanding restricted stock units (“RSU”) and the Company’</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">s equity incentive plans were proportionately adjusted. All share and per share amounts of the common stock included in the accompanying financial statements have been retrospectively adjusted to give effect to the Reverse Stock Split for all periods presented.</span></p>
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-74800000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-114600000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-350400000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25100000
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023 us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
30
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Reclassification</span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Certain items in prior financial statements have been reclassified to conform to the current presentation.</span></p>
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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 as well as the assessment of impairment of long-lived assets. The Company assesses estimates on an ongoing basis; however, actual results could materially differ from those estimates.</span>
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
25100000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
71000000
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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 creditworthy and the Company has not experienced any losses on these deposits. As of December 31, 2023 and 2022</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company’s cash and cash equivalents were held with two financial institutions. 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>
CY2022 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
18100000
CY2023Q1 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
32900000
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
13100000
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
6900000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0.50
CY2023 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2022 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2023 us-gaap Costs Associated With Exit Or Disposal Activities Or Restructurings Policy Ongoing Benefit Arrangements
CostsAssociatedWithExitOrDisposalActivitiesOrRestructuringsPolicyOngoingBenefitArrangements
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Costs Associated with Exit Activities</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company records employee termination costs in accordance with ASC Topic 712, </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Compensation - Nonretirement and Postemployment Benefits</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, if the Company pays the benefits as part of an ongoing benefit arrangement, which includes benefits provided as part of established severance policies. The Company accrues employee termination costs associated with an ongoing benefit arrangement if the obligation is attributable to prior services rendered, the rights to the benefits have vested, the payment is probable and the liability can be reasonably estimated. The Company accounts for involuntary employee termination benefits that represent a one-time benefit in accordance with ASC Topic 420, </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Exit or Disposal Cost Obligations</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> ("ASC 420"). The Company records such costs into expense over the employee’s future service period, if any.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Other costs associated with exit activities may include contract termination costs and consulting fees, which are expensed in accordance with ASC 420 and are included in restructuring in the consolidated statements of operations.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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25124000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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71038000
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2348000
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2767000
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27472000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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73805000
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869000
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25222000
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275000
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9286000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
594000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15936000
CY2023 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1500000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
5500000
CY2023 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
1300000
CY2023 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
600000
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1301000
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AccruedProfessionalFeesCurrent
5852000
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AccruedResearchAndDevelopment
0
CY2022Q4 fnch Accrued Research And Development
AccruedResearchAndDevelopment
1967000
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RefundableTaxCredited
418000
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RefundableTaxCredited
868000
CY2023Q4 us-gaap Restructuring Reserve
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260000
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201000
CY2023Q4 us-gaap Accrued Employee Benefits Current
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125000
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680000
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116000
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OtherAccruedLiabilitiesCurrent
593000
CY2023Q4 fnch Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
2220000
CY2022Q4 fnch Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
10161000
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TransfersBetweenFairValueLevels
0
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TransfersBetweenFairValueLevels
0
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LesseeOperatingLeaseLeasesArea
36285
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OperatingLeaseRightOfUseAsset
32752000
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1723000
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OperatingLeaseLiabilityCurrent
3431000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
28403000
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CY2023 us-gaap Short Term Lease Cost
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17000
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ShortTermLeaseCost
173000
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
304000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
1949000
CY2023 us-gaap Sublease Income
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3956000
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OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y
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P8Y6M
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OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
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CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2762000
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
1931000
CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due Current
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4795000
CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4931000
CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
5071000
CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
5215000
CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
5364000
CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
17025000
CY2023Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
42401000
CY2023Q4 fnch Interest Portion Of Operating Leases Future Minimum Payments Due
InterestPortionOfOperatingLeasesFutureMinimumPaymentsDue
-12275000
CY2023Q4 fnch Present Value Of Future Minimum Lease Payments
PresentValueOfFutureMinimumLeasePayments
30126000
CY2023Q4 fnch Operating Subleases Undiscounted Cash Flows Received Next Twelve Months
OperatingSubleasesUndiscountedCashFlowsReceivedNextTwelveMonths
4222000
CY2023Q4 fnch Operating Subleases Undiscounted Cash Flows Received Year Two
OperatingSubleasesUndiscountedCashFlowsReceivedYearTwo
3135000
CY2023Q4 fnch Operating Subleases Undiscounted Cash Flows Received
OperatingSubleasesUndiscountedCashFlowsReceived
7357000
CY2023 us-gaap Restructuring Charges
RestructuringCharges
3800000
CY2022 us-gaap Restructuring Charges
RestructuringCharges
2400000
CY2023 us-gaap Restructuring Costs
RestructuringCosts
3800000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-3500000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1400000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
2100000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.0339
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.05
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.0912
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.0388
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.1083
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2212
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.0444
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
73677000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
61782000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
8722000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
6033000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
0
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation
17000
CY2023Q4 fnch Right Of Use Liabilities
RightOfUseLiabilities
8230000
CY2022Q4 fnch Right Of Use Liabilities
RightOfUseLiabilities
10225000
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
10010000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
9898000
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1423000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1310000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
102062000
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DeferredTaxAssetsGross
89265000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
86438000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
75627000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
15624000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
13638000
CY2023Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
8224000
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
8057000
CY2023Q4 fnch Deferred Tax Liabilities Fixed Assets
DeferredTaxLiabilitiesFixedAssets
20000
CY2022Q4 fnch Deferred Tax Liabilities Fixed Assets
DeferredTaxLiabilitiesFixedAssets
121000
CY2023Q4 fnch Right Of Use Asset
RightOfUseAsset
7263000
CY2022Q4 fnch Right Of Use Asset
RightOfUseAsset
8639000
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
117000
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
282000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
15624000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
17099000
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
3461000
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
10800000
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
275100000
CY2023 fnch Operating Loss Carry Forwards Expiration Year
OperatingLossCarryForwardsExpirationYear
2037
CY2023 fnch Effective Income Tax Rate Reconciliation Tax Credits Research Expiration Date
EffectiveIncomeTaxRateReconciliationTaxCreditsResearchExpirationDate
which will expire at various dates through 2041
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2473000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1822000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
651000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
1098000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3571000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2473000
CY2023Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2023 us-gaap Cost Maintenance
CostMaintenance
5000
CY2023Q4 fnch Commitments And Contingencies Due In Next Twelve Months
CommitmentsAndContingenciesDueInNextTwelveMonths
20000
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of common stock entitles the holder to one vote
CY2023 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
51331
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
118564
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0388
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0226
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y10D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M17D
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-46.59
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-72.12
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-72.12
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.064
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.957
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
400000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.76
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
6.92
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1929000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7844000
CY2023 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
700000
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-74754000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-114646000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-74754000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-74754000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-114646000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-114646000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1604549
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1604549
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1589584
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1589584
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-46.59
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
51331
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
118564

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