$GRTSQ
Gritstone bio, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024056964 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $921.0K $1.742M $2.443M
YoY Change -52.89% -28.69% -66.03%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.698M $8.502M $6.745M
YoY Change 14.62% 26.05% -15.21%
% of Gross Profit
Research & Development $20.81M $33.04M $30.51M
YoY Change -32.8% 8.28% 8.21%
% of Gross Profit
Depreciation & Amortization $1.604M $1.742M $1.799M
YoY Change -15.89% -3.17% 13.22%
% of Gross Profit
Operating Expenses $28.51M $41.54M $37.26M
YoY Change -24.35% 11.5% 3.06%
Operating Profit -$27.59M -$39.80M -$34.82M
YoY Change -22.78% 14.32% 20.21%
Interest Expense $1.304M $1.296M $844.0K
YoY Change 32.39% 53.55% 1695.74%
% of Operating Profit
Other Income/Expense, Net $4.805M
YoY Change -21940.91%
Pretax Income -$23.40M -$40.39M -$33.98M
YoY Change -33.64% 18.84% 17.52%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$23.40M -$40.39M -$33.98M
YoY Change -33.64% 18.84% 17.52%
Net Earnings / Revenue -2540.28% -2318.31% -1390.99%
Basic Earnings Per Share -$0.16 -$0.34 -$0.30
Diluted Earnings Per Share -$0.16 -$0.34 -$0.30
COMMON SHARES
Basic Shares Outstanding 108.6M 98.07M 87.66M
Diluted Shares Outstanding 143.3M 118.4M 114.4M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.71M $46.30M $145.8M
YoY Change -51.36% -68.24% -15.31%
Cash & Equivalents $50.90M $42.40M $47.13M
Short-Term Investments $4.812M $3.908M $98.68M
Other Short-Term Assets $467.0K $566.0K $728.0K
YoY Change -34.96% -22.25% -26.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $60.71M $51.85M $154.8M
YoY Change -50.39% -66.5% -19.6%
LONG-TERM ASSETS
Property, Plant & Equipment $12.53M $14.09M $20.37M
YoY Change -38.72% -30.82% -8.61%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $5.304M $6.214M $19.21M
YoY Change -32.17% -67.65% 180.23%
Total Long-Term Assets $81.83M $85.36M $55.19M
YoY Change -18.37% 54.67% 8.28%
TOTAL ASSETS
Total Short-Term Assets $60.71M $51.85M $154.8M
Total Long-Term Assets $81.83M $85.36M $55.19M
Total Assets $142.5M $137.2M $210.0M
YoY Change -35.97% -34.65% -13.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.132M $7.248M $5.975M
YoY Change -16.1% 21.31% 5.92%
Accrued Expenses $856.0K $2.141M $3.123M
YoY Change -41.05% -31.44% 131.33%
Deferred Revenue $698.0K $1.285M $2.801M
YoY Change -75.23% -54.12% -77.27%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.90M $25.87M $24.67M
YoY Change 8.1% 4.86% -27.62%
LONG-TERM LIABILITIES
Long-Term Debt $40.51M $40.33M $29.58M
YoY Change 36.28% 36.36%
Other Long-Term Liabilities $1.117M $907.0K $251.0K
YoY Change 180.65% 261.35% -98.76%
Total Long-Term Liabilities $41.62M $41.24M $29.83M
YoY Change 38.19% 38.25% 47.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.90M $25.87M $24.67M
Total Long-Term Liabilities $41.62M $41.24M $29.83M
Total Liabilities $120.4M $123.2M $69.07M
YoY Change 6.45% 78.43% 27.25%
SHAREHOLDERS EQUITY
Retained Earnings -$723.3M -$699.9M -$555.1M
YoY Change 22.53% 26.09% 29.0%
Common Stock $24.00K $22.00K $22.00K
YoY Change 9.09% 0.0% 10.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $22.19M $13.96M $140.9M
YoY Change
Total Liabilities & Shareholders Equity $142.5M $137.2M $210.0M
YoY Change -35.97% -34.65% -13.77%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$23.40M -$40.39M -$33.98M
YoY Change -33.64% 18.84% 17.52%
Depreciation, Depletion And Amortization $1.604M $1.742M $1.799M
YoY Change -15.89% -3.17% 13.22%
Cash From Operating Activities -$26.81M -$33.60M -$40.10M
YoY Change -13.41% -16.21% 19.7%
INVESTING ACTIVITIES
Capital Expenditures $32.00K $143.0K $1.567M
YoY Change -98.14% -90.87% -13.52%
Acquisitions
YoY Change
Other Investing Activities -$853.0K $12.45M $22.74M
YoY Change -103.24% -45.27% 140.74%
Cash From Investing Activities -$885.0K $12.30M $21.17M
YoY Change -103.6% -41.89% 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 35.63M -379.0K 8.647M
YoY Change 3403.74% -104.38% -1042.97%
NET CHANGE
Cash From Operating Activities -26.81M -33.60M -40.10M
Cash From Investing Activities -885.0K 12.30M 21.17M
Cash From Financing Activities 35.63M -379.0K 8.647M
Net Change In Cash 7.937M -21.64M -10.27M
YoY Change -248.24% 110.74% -61.58%
FREE CASH FLOW
Cash From Operating Activities -$26.81M -$33.60M -$40.10M
Capital Expenditures $32.00K $143.0K $1.567M
Free Cash Flow -$26.84M -$33.74M -$41.67M
YoY Change -17.87% -19.02% 18.0%

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CY2024Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
137000
CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
12303000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
21173000
CY2024Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0
CY2023Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
9977000
CY2024Q1 grts Paymemt Of Deferred Financing Costs
PaymemtOfDeferredFinancingCosts
426000
CY2023Q1 grts Paymemt Of Deferred Financing Costs
PaymemtOfDeferredFinancingCosts
-2489000
CY2024Q1 grts Payments Of Financing Lease
PaymentsOfFinancingLease
62000
CY2023Q1 grts Payments Of Financing Lease
PaymentsOfFinancingLease
59000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
788000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
742000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-379000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8647000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-21643000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-10270000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70575000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
64765000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48932000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54495000
CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
22000
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
407000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
858000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
436000
CY2024Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
440000
CY2023Q1 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-40400000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-34000000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-33600000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-40100000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-699900000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-659600000
CY2024Q1 grts Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
46300000
CY2024Q1 grts Company Planned Operation
CompanyPlannedOperation
P12M
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><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></p><p style="text-indent:5.733%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The 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 liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include, but are not limited to, determining the fair value of assets and liabilities, the fair value of right-of-use assets and lease liabilities, stock-based compensation expense, and including those related to revenue recognition, including but not limited to, transaction price and progress toward completion of performance obligation under the Company's contracts with customers. 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>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><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></p><p style="text-indent:5.733%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><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 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="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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 </span><span style="color:#212529;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">March 31, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company has no off-balance sheet concentrations of credit risk.</span></p>
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
42395000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
62986000
CY2024Q1 us-gaap Restricted Cash
RestrictedCash
1247000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
2299000
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5290000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
5290000
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
48932000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
70575000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
778000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4303000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5862000
CY2024Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
41995000
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000
CY2024Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
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CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
62262000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5000
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
62265000
CY2024Q1 grts Marketable Securities Realized Gain Loss Description
MarketableSecuritiesRealizedGainLossDescription
no material realized gains or losses
CY2023 grts Marketable Securities Realized Gain Loss Description
MarketableSecuritiesRealizedGainLossDescription
no material realized gains or losses
CY2024Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2024Q1 grts Period Of Unrealized Loss Position
PeriodOfUnrealizedLossPosition
12 months or greater
CY2024Q1 grts Fair Value Measurement Level1 To Level2 Transfers
FairValueMeasurementLevel1ToLevel2Transfers
0
CY2023 grts Fair Value Measurement Level1 To Level2 Transfers
FairValueMeasurementLevel1ToLevel2Transfers
0
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
47538000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
49681000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
33465000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
32415000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14088000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
17281000
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1700000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1800000
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
3221000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
2164000
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
18000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2024Q1 us-gaap Lease Cost
LeaseCost
3239000
CY2023Q1 us-gaap Lease Cost
LeaseCost
2164000
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3143000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2094000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8M6D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5M3D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.101
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.079
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9627000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
10749000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
10376000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
10466000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
10732000
CY2024Q1 grts Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
41615000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
93565000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
30613000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
62952000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
6811000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
56141000
CY2024Q1 grts Prepaid Expense For Research And Development
PrepaidExpenseForResearchAndDevelopment
2462000
CY2023Q4 grts Prepaid Expense For Research And Development
PrepaidExpenseForResearchAndDevelopment
3904000
CY2024Q1 grts Collaboration Receivable
CollaborationReceivable
34000
CY2023Q4 grts Collaboration Receivable
CollaborationReceivable
14000
CY2024Q1 us-gaap Prepaid Insurance
PrepaidInsurance
620000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
940000
CY2024Q1 grts Interest And Other Receivables Current
InterestAndOtherReceivablesCurrent
172000
CY2023Q4 grts Interest And Other Receivables Current
InterestAndOtherReceivablesCurrent
217000
CY2024Q1 grts Facilities Related Deposits
FacilitiesRelatedDeposits
9000
CY2023Q4 grts Facilities Related Deposits
FacilitiesRelatedDeposits
9000
CY2024Q1 us-gaap Deferred Costs Current
DeferredCostsCurrent
440000
CY2023Q4 us-gaap Deferred Costs Current
DeferredCostsCurrent
0
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
566000
CY2024Q1 us-gaap Security Deposit
SecurityDeposit
924000
CY2023Q4 us-gaap Security Deposit
SecurityDeposit
924000
CY2024Q1 grts Deposits And Other Assets Noncurrent
DepositsAndOtherAssetsNoncurrent
924000
CY2023Q4 grts Deposits And Other Assets Noncurrent
DepositsAndOtherAssetsNoncurrent
924000
CY2024Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
40000000
CY2024Q1 grts Final Fee
FinalFee
2300000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-1970000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
40330000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo
8457000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree
18030000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Rolling Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour
13513000
CY2024Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
40000000
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
98114860
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
97585415
CY2024Q1 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
CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
20489256
CY2024Q1 grts Class Of Warrant Or Right Warrants Exercised
ClassOfWarrantOrRightWarrantsExercised
0
CY2023Q1 grts Class Of Warrant Or Right Warrants Exercised
ClassOfWarrantOrRightWarrantsExercised
0
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
6186925
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.5
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y3M3D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
264000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
3903416
CY2024Q1 grts Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Issuance Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForIssuanceGranted
5733435
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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3971589
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.45
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
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CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.99
CY2024Q1 grts Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Issuance Cancelled
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForIssuanceCancelled
1550468
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
907736
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.16
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
5907374
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10306517
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.95
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M28D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
998000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
5146980
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
8.29
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y7M9D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
352000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
9805788
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
6.08
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y10M2D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
934000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
11000000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y7M17D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2240000
CY2024Q1 grts Stock Based Compensation Expense And Awards Granted To Non Employees
StockBasedCompensationExpenseAndAwardsGrantedToNonEmployees
200000
CY2023Q1 grts Stock Based Compensation Expense And Awards Granted To Non Employees
StockBasedCompensationExpenseAndAwardsGrantedToNonEmployees
200000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
3088970
CY2023Q4 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
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
644826
CY2024Q1 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
2.46
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
826642
CY2024Q1 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
3.28
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
324626
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
3.09
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2582528
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
3.11
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3246000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2891000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-40385000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-33982000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
118391224
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
118391224
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
114423000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
114423000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.3
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.3
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14182830
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10612315
CY2024Q1 grts Reduction In Workforce
ReductionInWorkforce
0.40
CY2024Q1 grts Severance And Other Costs
SeveranceAndOtherCosts
3900000
CY2024Q1 us-gaap Severance Costs1
SeveranceCosts1
2198000
CY2024Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
185000
CY2024Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1483000
CY2024Q1 grts Severance And Other Costs
SeveranceAndOtherCosts
3866000

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