$GBIO
Generation Bio Co.

2020 Q4 Form 10-K Financial Statement

#000119312521085043 Filed on March 18, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q1 2019 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.970M $4.640M
YoY Change 68.12%
% of Gross Profit
Research & Development $16.37M $13.39M
YoY Change 14.25%
% of Gross Profit
Depreciation & Amortization $990.0K $680.0K $1.330M
YoY Change -25.56% 300.0%
% of Gross Profit
Operating Expenses $24.35M $18.04M $16.16M
YoY Change 50.67% 24.59%
Operating Profit -$24.35M -$18.04M -$16.16M
YoY Change 50.67% 24.59%
Interest Expense $120.0K $320.0K
YoY Change -15.79%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$24.23M -$17.72M
YoY Change 25.76%
Income Tax
% Of Pretax Income
Net Earnings -$24.23M -$17.72M -$16.06M
YoY Change 50.82% 25.71%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$499.7K -$307.1K
COMMON SHARES
Basic Shares Outstanding 46.52M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q1 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $262.3M $104.5M
YoY Change
Cash & Equivalents $62.89M $104.5M $15.08M
Short-Term Investments $199.4M $0.00
Other Short-Term Assets $5.400M $2.800M
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $267.7M $107.3M $18.16M
YoY Change 1374.64%
LONG-TERM ASSETS
Property, Plant & Equipment $23.78M $22.60M $21.85M
YoY Change 8.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $252.0K $2.700M
YoY Change
Total Long-Term Assets $26.42M $25.30M $23.98M
YoY Change 10.16%
TOTAL ASSETS
Total Short-Term Assets $267.7M $107.3M $18.16M
Total Long-Term Assets $26.42M $25.30M $23.98M
Total Assets $294.2M $132.6M $42.14M
YoY Change 598.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $267.0K $500.0K $2.251M
YoY Change -88.14%
Accrued Expenses $8.900M $4.800M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.22M $7.100M $9.158M
YoY Change 22.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.90M $15.80M
YoY Change
Total Long-Term Liabilities $14.90M $15.80M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $11.22M $7.100M $9.158M
Total Long-Term Liabilities $14.90M $15.80M
Total Liabilities $26.14M $22.90M $25.14M
YoY Change 3.99%
SHAREHOLDERS EQUITY
Retained Earnings -$189.0M -$108.5M
YoY Change 74.25%
Common Stock $5.000K $1.000K
YoY Change 400.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $268.0M -$114.7M -$98.59M
YoY Change
Total Liabilities & Shareholders Equity $294.2M $132.6M $42.14M
YoY Change 598.04%

Cashflow Statement

Concept 2020 Q4 2020 Q1 2019 Q4
OPERATING ACTIVITIES
Net Income -$24.23M -$17.72M -$16.06M
YoY Change 50.82% 25.71%
Depreciation, Depletion And Amortization $990.0K $680.0K $1.330M
YoY Change -25.56% 300.0%
Cash From Operating Activities -$18.36M -$17.78M -$23.59M
YoY Change -22.17% 47.06%
INVESTING ACTIVITIES
Capital Expenditures -$1.800M -$2.010M -$6.790M
YoY Change -73.49% -65.58%
Acquisitions
YoY Change
Other Investing Activities $22.14M $0.00 $15.08M
YoY Change 46.82% -100.0%
Cash From Investing Activities $20.35M -$2.010M $8.300M
YoY Change 145.18% -113.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.300M 109.1M 70.00K
YoY Change 3185.71% 1091200.0%
NET CHANGE
Cash From Operating Activities -18.36M -17.78M -23.59M
Cash From Investing Activities 20.35M -2.010M 8.300M
Cash From Financing Activities 2.300M 109.1M 70.00K
Net Change In Cash 4.290M 89.34M -15.22M
YoY Change -128.19% 2551.04%
FREE CASH FLOW
Cash From Operating Activities -$18.36M -$17.78M -$23.59M
Capital Expenditures -$1.800M -$2.010M -$6.790M
Free Cash Flow -$16.56M -$15.77M -$16.80M
YoY Change -1.43% 152.32%

Facts In Submission

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CY2020 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Use of estimates </div></div></div></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual of research and development expenses and stock-based compensation expense. The Company bases its estimates on historical experience, known trends and other&#160;market-specific&#160;or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29443000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
24075000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5662000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2230000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.76
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
13.40
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.49
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y8M4D
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.73
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.89
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
10.57
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.54
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y7M17D
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0060
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0200
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7730
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.757
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3373884
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3090315
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
792845
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
429584
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5241770
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
4585120
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1108099
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8492000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
99467000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
84238000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
26388000
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
1705188
CY2019Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.22
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1022234
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.17
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
4819
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
1.95
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
678135
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.28
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.026
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.010
CY2019Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.09
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.070
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.059
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.042
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.051
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.348
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.308
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
48280000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
25023000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
9385000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
5998000
CY2020Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
4456000
CY2019Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
4740000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2747000
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1469000
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
64868000
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.31
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
37230000
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
3900000
CY2019Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
4117000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3900000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
4117000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
60968000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33113000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33113000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
14246000
CY2020 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
27855000
CY2019 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
18867000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
60968000
CY2020 gbio Tax Credit Carryforward Expiration Year
TaxCreditCarryforwardExpirationYear
2036
CY2020Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
169100000
CY2020 gbio Percentage On Annual Taxable Income
PercentageOnAnnualTaxableIncome
0.80
CY2020Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
3900000
CY2020 gbio Operating Loss Carryforwards Expiration Year
OperatingLossCarryforwardsExpirationYear
2036
CY2020 gbio Percentage Of Change In Ownership
PercentageOfChangeInOwnership
0.50
CY2020 gbio Unrecognized Tax Benefits Of Income Tax Rate
UnrecognizedTaxBenefitsOfIncomeTaxRate
0.50
CY2020Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2020 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2020 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.04
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Concentrations of credit risk and of significant suppliers </div></div></div></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents, and marketable securities. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. The Company maintains its cash equivalents in money market funds that invest in U.S. treasury securities. The Company&#8217;s marketable securities as of December&#160;31, 2020 consisted of U.S government treasury securities, commercial paper and corporate debt securities. The Company has adopted an investment policy that limits the amounts the Company may invest in the securities of single issuer with the exclusion of the U.S. government. The Company has not experienced any credit losses and does not believe that it is subject to significant credit risk. </div></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company is dependent on a small number of third-party suppliers for its drug substance and drug product. In particular, the Company relies, and expects to continue to rely, on third-party suppliers for certain materials and components required for the production of any product candidates it may develop for its programs. These programs could be adversely affected by a significant interruption in the supply process. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.30
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
33400000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements
EffectiveIncomeTaxRateReconciliationTaxSettlements
0.50
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
49700000
CY2020 gbio Preferred Stock Issuance Costs Included In Accrued Expenses
PreferredStockIssuanceCostsIncludedInAccruedExpenses
295000
CY2019 gbio Preferred Stock Issuance Costs Included In Accrued Expenses
PreferredStockIssuanceCostsIncludedInAccruedExpenses
65000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-14094000
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.50
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.22
CY2019Q4 us-gaap Operating Expenses
OperatingExpenses
16158000
CY2019Q3 us-gaap Operating Expenses
OperatingExpenses
16333000
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
15335000
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
14476000
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-16158000
CY2019Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-16333000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-15335000
CY2020Q4 us-gaap Operating Expenses
OperatingExpenses
24345000
CY2020Q3 us-gaap Operating Expenses
OperatingExpenses
20969000
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
17764000
CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
18036000
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-24345000
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-20969000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-17764000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-18036000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
-24226000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-20849000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-17731000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-17717000
CY2020Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.53
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.46
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-14476000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-16063000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-16128000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-15032000
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.29
CY2020 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2019Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
448000
CY2020 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2020 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2020Q2 dei Entity Public Float
EntityPublicFloat
646200000
CY2020Q4 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
us-gaap:OperatingLeaseLiabilityCurrent
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M14D
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M8D
CY2020 dei Entity Address Address Line1
EntityAddressAddressLine1
301 Binney Street
CY2020 dei Entity Address City Or Town
EntityAddressCityOrTown
Cambridge
CY2020 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02142
CY2020 dei City Area Code
CityAreaCode
617
CY2020 dei Local Phone Number
LocalPhoneNumber
655-7500
CY2020 dei Security12b Title
Security12bTitle
Common Stock, $0.0001 Par Value
CY2021Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
56427399
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue

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