$HLVX
HilleVax, Inc.

2023 Q1 Form 10-K Financial Statement

#000095017023008647 Filed on March 17, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.795M $5.543M $16.70M
YoY Change 122.63% 105.91% 190.22%
% of Gross Profit
Research & Development $23.16M $17.56M $48.41M
YoY Change 826.56% 109.22% 1.55%
% of Gross Profit
Depreciation & Amortization $1.000K $1.000K $1.000K
YoY Change -50.0% -66.67%
% of Gross Profit
Operating Expenses $28.96M $23.10M $65.11M
YoY Change 155.96% 108.61% 21.88%
Operating Profit -$28.96M -$65.11M
YoY Change 155.96% 21.88%
Interest Expense $449.0K $1.961M $3.414M
YoY Change -78.25% -192.94% -220.04%
% of Operating Profit
Other Income/Expense, Net $2.070M -$50.00K -$94.70M
YoY Change -103.66% -99.79% 105.25%
Pretax Income -$26.89M -$21.19M -$159.8M
YoY Change -60.39% -43.24% 56.05%
Income Tax
% Of Pretax Income
Net Earnings -$26.89M -$21.19M -$159.8M
YoY Change -60.39% -43.24% 56.05%
Net Earnings / Revenue
Basic Earnings Per Share -$0.71 -$5.89
Diluted Earnings Per Share -$0.71 -$0.56 -$5.89
COMMON SHARES
Basic Shares Outstanding 39.25M 33.35M 27.15M
Diluted Shares Outstanding 37.75M 27.15M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $260.5M $279.4M $279.4M
YoY Change 134.19% 124.3% 124.3%
Cash & Equivalents $260.5M $279.4M
Short-Term Investments
Other Short-Term Assets $9.317M $11.21M $11.21M
YoY Change 1841.04% 7851.77% 7851.77%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $269.9M $290.6M $290.6M
YoY Change 141.52% 133.04% 133.04%
LONG-TERM ASSETS
Property, Plant & Equipment $10.45M $5.586M $24.95M
YoY Change 5837.5% 13200.0% 10698.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $22.00K $22.00K $1.653M
YoY Change -99.21% -99.01% -25.57%
Total Long-Term Assets $31.10M $26.60M $26.60M
YoY Change 949.33% 984.75% 984.75%
TOTAL ASSETS
Total Short-Term Assets $269.9M $290.6M $290.6M
Total Long-Term Assets $31.10M $26.60M $26.60M
Total Assets $301.0M $317.2M $317.2M
YoY Change 162.4% 149.46% 149.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.744M $4.744M $4.744M
YoY Change -56.51% 363.28% 363.28%
Accrued Expenses $17.41M $8.210M $8.302M
YoY Change 264.42% -10.41% -30.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.27M $13.05M $13.05M
YoY Change -93.19% -94.27% -94.27%
LONG-TERM LIABILITIES
Long-Term Debt $14.90M $14.79M $14.79M
YoY Change
Other Long-Term Liabilities $747.0K $575.0K $22.14M
YoY Change 74600.0% 57400.0% 14279.22%
Total Long-Term Liabilities $15.65M $15.37M $36.94M
YoY Change 1564900.0% 1536600.0% 23884.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.27M $13.05M $13.05M
Total Long-Term Liabilities $15.65M $15.37M $36.94M
Total Liabilities $57.90M $49.98M $49.98M
YoY Change -79.55% -78.07% -78.07%
SHAREHOLDERS EQUITY
Retained Earnings -$291.9M -$265.0M
YoY Change 68.65% 151.93%
Common Stock $535.2M $532.5M
YoY Change 11290.19% 11928.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $243.1M $267.2M $267.2M
YoY Change
Total Liabilities & Shareholders Equity $301.0M $317.2M $317.2M
YoY Change 162.4% 149.46% 149.46%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$26.89M -$21.19M -$159.8M
YoY Change -60.39% -43.24% 56.05%
Depreciation, Depletion And Amortization $1.000K $1.000K $1.000K
YoY Change -50.0% -66.67%
Cash From Operating Activities -$15.95M -$18.52M -$61.99M
YoY Change 48.89% 341.51% 749.75%
INVESTING ACTIVITIES
Capital Expenditures $2.985M $3.829M $4.014M
YoY Change -12863.33% -9020.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$2.500M
YoY Change -100.0% -9.52%
Cash From Investing Activities -$2.985M -$3.829M -$6.514M
YoY Change 19.4% 12663.33% 131.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 80.00K 9.687M 225.0M
YoY Change -180.81% -1327.76% 67.62%
NET CHANGE
Cash From Operating Activities -15.95M -18.52M -61.99M
Cash From Investing Activities -2.985M -3.829M -6.514M
Cash From Financing Activities 80.00K 9.687M 225.0M
Net Change In Cash -18.86M -12.66M 156.5M
YoY Change 41.65% 152.52% 26.07%
FREE CASH FLOW
Cash From Operating Activities -$15.95M -$18.52M -$61.99M
Capital Expenditures $2.985M $3.829M $4.014M
Free Cash Flow -$18.94M -$22.35M -$66.00M
YoY Change 436.65% 810.39%

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PaymentsToAcquirePropertyPlantAndEquipment
45000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6514000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2808000
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1000
CY2022 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
230006000
CY2022 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
19702000
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
789000
CY2022 us-gaap Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
14665000
CY2021 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
135000000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
224969000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
134212000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
156466000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
124109000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
124566000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
457000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
281032000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
124566000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
193000
CY2021 hlvx Accrued Interest Exchanged For Convertible Promissory Notes
AccruedInterestExchangedForConvertiblePromissoryNotes
47000
CY2022 hlvx Noncash Or Part Noncash Operating Lease
NoncashOrPartNoncashOperatingLease
20317000
CY2021 hlvx Noncash Or Part Noncash Operating Lease
NoncashOrPartNoncashOperatingLease
180000
CY2021 hlvx Warrants Issued
WarrantsIssued
30534000
CY2021 us-gaap Stock Issued1
StockIssued1
4357000
CY2021 hlvx Unpaid Initial Public Offering Costs
UnpaidInitialPublicOfferingCosts
1409000
CY2022 hlvx Unpaid Property And Equipment Purchases
UnpaidPropertyAndEquipmentPurchases
1573000
CY2022 hlvx Conversion Of Convertible Promissory Notes And Interest Into Common Stock
ConversionOfConvertiblePromissoryNotesAndInterestIntoCommonStock
215364000
CY2022 hlvx Conversion Of Warrant Liability Into Equity
ConversionOfWarrantLiabilityIntoEquity
100020000
CY2022 hlvx Accreted Final Interest Payment Fees
AccretedFinalInterestPaymentFees
252000
CY2022 hlvx Non Cash Settlement Of Employee Stock Purchase Plan Liability In Common Stock
NonCashSettlementOfEmployeeStockPurchasePlanLiabilityInCommonStock
173000
CY2022Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1.681
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2022Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
13529750
CY2022Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
17.00
CY2022Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
209500000
CY2022Q2 hlvx Underwriting Discounts Commissions And Offering Costs
UnderwritingDiscountsCommissionsAndOfferingCosts
20500000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:16.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">The Company’s consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). The preparation of the Company’s unaudited consolidated financial statements requires it to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements and accompanying notes. The most significant estimates in the Company’s unaudited consolidated financial statements relate to accruals for research and development expenses, and the valuation of convertible promissory notes, warrant liabilities and various other equity instruments. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results could differ materially from those estimates and assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.</span></p>
CY2022 hlvx Weighted Average Unvested Shares Excluded From Computation Of Earnings Per Share Amount
WeightedAverageUnvestedSharesExcludedFromComputationOfEarningsPerShareAmount
2080038
CY2021 hlvx Weighted Average Unvested Shares Excluded From Computation Of Earnings Per Share Amount
WeightedAverageUnvestedSharesExcludedFromComputationOfEarningsPerShareAmount
2694011
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3701118
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8508935
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
5883500
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.0000595
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
124566000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5587000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
45000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5586000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42000
CY2022Q4 hlvx Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
3510000
CY2021Q4 hlvx Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
6425000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4018000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1010000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
682000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1729000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
8210000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
9164000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
279401000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
124566000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1631000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
281032000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
2351000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
0
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y11M15D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y9M
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.074
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
101000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3483000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3584000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3688000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3784000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3860000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
21075000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
39474000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11950000
CY2022Q4 hlvx Lessee Operating Lease Tenant Improvement Reimbursements
LesseeOperatingLeaseTenantImprovementReimbursements
5918000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
21606000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
37000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
21569000
CY2022 us-gaap Description Of Defined Contribution Pension And Other Postretirement Plans
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans
the Company made matching contributions equal to 100% of the employee’s contributions, subject to a maximum of 4% of eligible compensation. The matching contributions for the year ended December 31, 2022 were not material.
CY2022Q4 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
CY2022Q4 hlvx Defined Contribution Plan Maximum Eligible Compensation
DefinedContributionPlanMaximumEligibleCompensation
0.04
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
15000000
CY2022Q4 hlvx Accumulated Paid In Kind Interest Amount
AccumulatedPaidInKindInterestAmount
87000
CY2022Q4 hlvx Debt Instrument Carrying Amount Including Paid In Kind Interest
DebtInstrumentCarryingAmountIncludingPaidInKindInterest
15087000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
295000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
14792000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
902000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
967000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
5063000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
7982000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
7405000
CY2022Q4 hlvx Principal Payments Interest Payments And Final Payment Fee
PrincipalPaymentsInterestPaymentsAndFinalPaymentFee
22319000
CY2022Q4 hlvx Debt Instrument Interest And Final Payment Fee
DebtInstrumentInterestAndFinalPaymentFee
7232000
CY2022Q4 hlvx Long Term Debt Net Of Interest Pik Interest And Back End Fee
LongTermDebtNetOfInterestPikInterestAndBackEndFee
15087000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.019
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.042
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.012
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.013
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.834
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.943
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.82
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3003000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
67000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.41
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.88
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
13800000
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y3M18D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2625435
CY2022 hlvx Share Based Compensation Arrangement By Share Based Payment Award Other Than Options Non Vested Number Of Shares Repurchased
ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherThanOptionsNonVestedNumberOfSharesRepurchased
81949
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
958777
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1584709
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6741573
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-33588000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-21506000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1366000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-586000
CY2022 hlvx Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liabilities
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilities
9249000
CY2021 hlvx Effective Income Tax Rate Reconciliation Change In Fair Value Of Warrant Liabilities
EffectiveIncomeTaxRateReconciliationChangeInFairValueOfWarrantLiabilities
5441000
CY2022 hlvx Effective Income Tax Rate Reconciliation Convertible Debt
EffectiveIncomeTaxRateReconciliationConvertibleDebt
11396000
CY2021 hlvx Effective Income Tax Rate Reconciliation Convertible Debt
EffectiveIncomeTaxRateReconciliationConvertibleDebt
4840000
CY2022 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-354000
CY2021 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
69000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
14734000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
11742000
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-71000
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
8406000
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
8372000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
6950000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2849000
CY2022Q4 hlvx Deferred Tax Assets Start Up And Organization Costs
DeferredTaxAssetsStartUpAndOrganizationCosts
685000
CY2021Q4 hlvx Deferred Tax Assets Start Up And Organization Costs
DeferredTaxAssetsStartUpAndOrganizationCosts
756000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
9337000
CY2022Q4 hlvx Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
4979000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1030000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
164000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
31387000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
12141000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
26930000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
12141000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
4457000
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
4457000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
4457000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
26900000
CY2022 hlvx Net Operating Losses Limitation Percentage Of Taxable Income
NetOperatingLossesLimitationPercentageOfTaxableIncome
0.80
CY2022 hlvx Operating Loss Carryforwards Expiration Year
OperatingLossCarryforwardsExpirationYear
2041
CY2022 us-gaap Operating Loss Carryforwards Limitations On Use
OperatingLossCarryforwardsLimitationsOnUse
Pursuant to Internal Revenue Code Sections 382 and 383, annual use of the Company’s net operating loss may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period.
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0

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0000950170-23-008647.txt Edgar Link pending
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