$GRTSQ
Gritstone bio, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023021289 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $1.955M $2.443M
YoY Change -64.27% -66.03%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.716M $6.745M
YoY Change -13.81% -15.21%
% of Gross Profit
Research & Development $30.97M $30.51M
YoY Change 13.24% 8.21%
% of Gross Profit
Depreciation & Amortization $1.907M $1.799M
YoY Change 26.8% 13.22%
% of Gross Profit
Operating Expenses $37.68M $37.26M
YoY Change 7.24% 3.06%
Operating Profit -$35.73M -$34.82M
YoY Change 20.43% 20.21%
Interest Expense $985.0K $844.0K
YoY Change 543.79% 1695.74%
% of Operating Profit
Other Income/Expense, Net -$22.00K
YoY Change
Pretax Income -$35.26M -$33.98M
YoY Change 19.45% 17.52%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$35.26M -$33.98M
YoY Change 19.45% 17.52%
Net Earnings / Revenue -1803.38% -1390.99%
Basic Earnings Per Share -$0.31 -$0.30
Diluted Earnings Per Share -$0.31 -$0.30
COMMON SHARES
Basic Shares Outstanding 88.91M 87.66M
Diluted Shares Outstanding 114.9M 114.4M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.5M $145.8M
YoY Change -20.81% -15.31%
Cash & Equivalents $41.41M $47.13M
Short-Term Investments $73.12M $98.68M
Other Short-Term Assets $718.0K $728.0K
YoY Change -9.11% -26.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $122.4M $154.8M
YoY Change -24.34% -19.6%
LONG-TERM ASSETS
Property, Plant & Equipment $20.44M $20.37M
YoY Change -9.99% -8.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change
Other Assets $7.819M $19.21M
YoY Change -6.69% 180.23%
Total Long-Term Assets $100.2M $55.19M
YoY Change 91.98% 8.28%
TOTAL ASSETS
Total Short-Term Assets $122.4M $154.8M
Total Long-Term Assets $100.2M $55.19M
Total Assets $222.6M $210.0M
YoY Change 4.05% -13.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.925M $5.975M
YoY Change 106.85% 5.92%
Accrued Expenses $1.452M $3.123M
YoY Change -28.65% 131.33%
Deferred Revenue $2.818M $2.801M
YoY Change -74.56% -77.27%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.11M $24.67M
YoY Change -31.73% -27.62%
LONG-TERM LIABILITIES
Long-Term Debt $29.72M $29.58M
YoY Change
Other Long-Term Liabilities $398.0K $251.0K
YoY Change -97.81% -98.76%
Total Long-Term Liabilities $30.12M $29.83M
YoY Change 65.6% 47.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.11M $24.67M
Total Long-Term Liabilities $30.12M $29.83M
Total Liabilities $113.1M $69.07M
YoY Change 123.54% 27.25%
SHAREHOLDERS EQUITY
Retained Earnings -$590.3M -$555.1M
YoY Change 28.38% 29.0%
Common Stock $22.00K $22.00K
YoY Change 10.0% 10.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $109.6M $140.9M
YoY Change
Total Liabilities & Shareholders Equity $222.6M $210.0M
YoY Change 4.05% -13.77%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$35.26M -$33.98M
YoY Change 19.45% 17.52%
Depreciation, Depletion And Amortization $1.907M $1.799M
YoY Change 26.8% 13.22%
Cash From Operating Activities -$30.96M -$40.10M
YoY Change 17.56% 19.7%
INVESTING ACTIVITIES
Capital Expenditures $1.721M $1.567M
YoY Change -218.44% -13.52%
Acquisitions
YoY Change
Other Investing Activities $26.31M $22.74M
YoY Change 9.95% 140.74%
Cash From Investing Activities $24.59M $21.17M
YoY Change 9.4% 177.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.017M 8.647M
YoY Change 228.06% -1042.97%
NET CHANGE
Cash From Operating Activities -30.96M -40.10M
Cash From Investing Activities 24.59M 21.17M
Cash From Financing Activities 1.017M 8.647M
Net Change In Cash -5.354M -10.27M
YoY Change 50.9% -61.58%
FREE CASH FLOW
Cash From Operating Activities -$30.96M -$40.10M
Capital Expenditures $1.721M $1.567M
Free Cash Flow -$32.68M -$41.67M
YoY Change 31.35% 18.0%

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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-917000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10270000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26734000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
64765000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110577000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54495000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
83843000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
407000
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1182000
CY2023Q1 grts Remeasurement Of Operating Lease Right Of Use Assets For Lease Modification
RemeasurementOfOperatingLeaseRightOfUseAssetsForLeaseModification
0
CY2022Q1 grts Remeasurement Of Operating Lease Right Of Use Assets For Lease Modification
RemeasurementOfOperatingLeaseRightOfUseAssetsForLeaseModification
228000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
436000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
0
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-34000000.0
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-28900000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-40100000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33500000
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-555100000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-521100000
CY2023Q1 grts Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
145800000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:5.733%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The </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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets and liabilities and disclosures of contingent</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">liabilities </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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates.</span></p>
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span></p><p style="text-indent:5.733%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and marketable securities. Cash, cash equivalents and marketable securities are invested through banks and other financial institutions in the United States. Such deposits may be in excess of federally insured limits. The Company maintains cash equivalents and marketable securities with various high-credit-quality and capitalized financial institutions. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds.</span></p><p style="text-indent:5.733%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company’s investment policy limits investments to certain types of securities issued by the U.S. government, its agencies and institutions with investment-grade credit ratings and places restrictions on maturities and concentration by type and issuer. The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash, cash equivalents and marketable securities and issuers of marketable securities to the extent recorded on the condensed consolidated balance sheets. As of March 31, 2023, the Company has no off-balance sheet concentrations of credit risk.</span></p>
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
47128000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
55498000
CY2023Q1 us-gaap Restricted Cash
RestrictedCash
2077000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
3977000
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5290000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5290000
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
54495000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
64765000
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
132606000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
28000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
80000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
132554000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
158691000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
55000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
135000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
158611000
CY2023Q1 grts Marketable Securities Realized Gain Loss Description
MarketableSecuritiesRealizedGainLossDescription
no material realized gains or losses
CY2022Q1 grts Marketable Securities Realized Gain Loss Description
MarketableSecuritiesRealizedGainLossDescription
no material realized gains or losses
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2023Q1 grts Period Of Unrealized Loss Position
PeriodOfUnrealizedLossPosition
12 months or greater
CY2023Q1 grts Fair Value Measurement Level1 To Level2 Transfers
FairValueMeasurementLevel1ToLevel2Transfers
0
CY2022Q1 grts Fair Value Measurement Level1 To Level2 Transfers
FairValueMeasurementLevel1ToLevel2Transfers
0
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
49594000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
48773000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
30581000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28782000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20365000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
21335000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1800000
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1600000
CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
600000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2164000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2253000
CY2023Q1 us-gaap Lease Cost
LeaseCost
2164000
CY2022Q1 us-gaap Lease Cost
LeaseCost
2253000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2094000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2034000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
781000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5M3D
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5M9D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.079
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.074
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
6456000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
12527000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10658000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
10376000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10466000
CY2023Q1 grts Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
52348000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
102831000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4515000
CY2023Q1 grts Operating Lease Payment Under The Boston Lease
OperatingLeasePaymentUnderTheBostonLease
79113000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
19203000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4628000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
14575000
CY2023Q1 grts Prepaid Expense For Research And Development
PrepaidExpenseForResearchAndDevelopment
4056000
CY2022Q4 grts Prepaid Expense For Research And Development
PrepaidExpenseForResearchAndDevelopment
4241000
CY2023Q1 grts Collaboration Receivable
CollaborationReceivable
112000
CY2022Q4 grts Collaboration Receivable
CollaborationReceivable
135000
CY2023Q1 us-gaap Prepaid Insurance
PrepaidInsurance
813000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1158000
CY2023Q1 grts Interest And Other Receivables Current
InterestAndOtherReceivablesCurrent
454000
CY2022Q4 grts Interest And Other Receivables Current
InterestAndOtherReceivablesCurrent
529000
CY2023Q1 grts Facilities Related Deposits
FacilitiesRelatedDeposits
717000
CY2022Q4 grts Facilities Related Deposits
FacilitiesRelatedDeposits
384000
CY2023Q1 us-gaap Other Assets Current
OtherAssetsCurrent
728000
CY2022Q4 us-gaap Other Assets Current
OtherAssetsCurrent
567000
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6880000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7014000
CY2023Q1 us-gaap Security Deposit
SecurityDeposit
934000
CY2022Q4 us-gaap Security Deposit
SecurityDeposit
934000
CY2023Q1 grts Prepaid Expense For Research And Development Non Current
PrepaidExpenseForResearchAndDevelopmentNonCurrent
488000
CY2022Q4 grts Prepaid Expense For Research And Development Non Current
PrepaidExpenseForResearchAndDevelopmentNonCurrent
643000
CY2023Q1 us-gaap Prepaid Rent
PrepaidRent
12495000
CY2022Q4 us-gaap Prepaid Rent
PrepaidRent
8162000
CY2023Q1 grts Deposits And Other Assets Noncurrent
DepositsAndOtherAssetsNoncurrent
13917000
CY2022Q4 grts Deposits And Other Assets Noncurrent
DepositsAndOtherAssetsNoncurrent
9739000
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000
CY2023Q1 grts Final Fee
FinalFee
1725000
CY2023Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-2149000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
29576000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
0
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
6616000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
14108000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive
9276000
CY2023Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
30000000
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
87848417
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
86894901
CY2023Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Holders of the Company’s common stock are entitled to one vote per share.
CY2022Q1 grts Maximum Securities Covered Under Registration Agreement
MaximumSecuritiesCoveredUnderRegistrationAgreement
250000000.0
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
26848627
CY2023Q1 grts Class Of Warrant Or Right Warrants Exercised
ClassOfWarrantOrRightWarrantsExercised
0
CY2022Q1 grts Class Of Warrant Or Right Warrants Exercised
ClassOfWarrantOrRightWarrantsExercised
3442567
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecrease
700000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecrease
1300000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
4814394
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6951620
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.92
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y29D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1089000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
4775796
CY2023Q1 grts Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Issuance Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForIssuanceGranted
3582453
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
67666
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.10
CY2023Q1 grts Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Issuance Cancelled
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForIssuanceCancelled
323663
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
84672
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
4.72
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
6331400
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6934614
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.44
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M2D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
451000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
3452242
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
9.19
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y7D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
258000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
6492805
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
8.02
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y9M10D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
430000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
300000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
12800000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2000000.0
CY2023Q1 grts Stock Based Compensation Expense And Awards Granted To Non Employees
StockBasedCompensationExpenseAndAwardsGrantedToNonEmployees
200000
CY2022Q1 grts Stock Based Compensation Expense And Awards Granted To Non Employees
StockBasedCompensationExpenseAndAwardsGrantedToNonEmployees
200000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
561526
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.38
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
3514787
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.29
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
561526
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
5.38
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
23128
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
3.29
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
3491659
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.29
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2891000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3131000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-33982000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-28916000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
114423000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114423000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86277599
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
86277599
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.30
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.30
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10612315
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7708450

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0000950170-23-021289-index.html Edgar Link pending
0000950170-23-021289.txt Edgar Link pending
0000950170-23-021289-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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grts-ex10_1.htm Edgar Link pending
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grts-20230331_def.xml Edgar Link unprocessable
grts-20230331_pre.xml Edgar Link unprocessable
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grts-20230331_htm.xml Edgar Link completed
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