2021 Q4 Form 10-Q Financial Statement
#000095017021004464 Filed on November 15, 2021
Income Statement
Concept | 2021 Q4 | 2021 Q3 | 2020 Q3 |
---|---|---|---|
Revenue | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $5.108M | $4.995M | $500.0K |
YoY Change | 1547.74% | 899.0% | |
% of Gross Profit | |||
Research & Development | $12.63M | $13.46M | $6.727M |
YoY Change | 100.01% | ||
% of Gross Profit | |||
Depreciation & Amortization | $46.00K | $58.00K | |
YoY Change | |||
% of Gross Profit | |||
Operating Expenses | $17.74M | $18.45M | $7.949M |
YoY Change | 5623.23% | 132.1% | |
Operating Profit | -$18.45M | -$7.949M | |
YoY Change | 132.1% | ||
Interest Expense | -$81.00K | $104.0K | $2.047M |
YoY Change | -94.92% | ||
% of Operating Profit | |||
Other Income/Expense, Net | $0.00 | $0.00 | |
YoY Change | |||
Pretax Income | -$17.82M | -$18.55M | -$500.0K |
YoY Change | 5649.35% | 3610.2% | |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$17.82M | -$18.55M | -$10.00M |
YoY Change | 5649.35% | 85.45% | |
Net Earnings / Revenue | |||
Basic Earnings Per Share | -$0.43 | ||
Diluted Earnings Per Share | -$412.9K | -$430.5K | -$39.94K |
COMMON SHARES | |||
Basic Shares Outstanding | 43.11M | 43.09M | |
Diluted Shares Outstanding | 43.09M |
Balance Sheet
Concept | 2021 Q4 | 2021 Q3 | 2020 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $136.6M | $150.1M | $1.400M |
YoY Change | 11285.58% | 10619.21% | |
Cash & Equivalents | $136.6M | $150.1M | $13.54M |
Short-Term Investments | |||
Other Short-Term Assets | $3.473M | $4.731M | $200.0K |
YoY Change | 3373.0% | 2265.5% | |
Inventory | |||
Prepaid Expenses | $3.250M | $4.731M | |
Receivables | |||
Other Receivables | |||
Total Short-Term Assets | $140.1M | $154.8M | $1.600M |
YoY Change | 2666.04% | 9575.0% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $0.00 | $180.0K | |
YoY Change | -100.0% | ||
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $237.0K | $232.0K | $120.8M |
YoY Change | -99.8% | -99.81% | |
Total Long-Term Assets | $337.0K | $735.0K | $120.8M |
YoY Change | -89.64% | -99.39% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $140.1M | $154.8M | $1.600M |
Total Long-Term Assets | $337.0K | $735.0K | $120.8M |
Total Assets | $140.4M | $155.5M | $122.4M |
YoY Change | 1588.15% | 27.07% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.950M | $939.0K | $0.00 |
YoY Change | 24.11% | ||
Accrued Expenses | $6.884M | $6.722M | $500.0K |
YoY Change | 1276.8% | 1244.4% | |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $5.000M | $5.000M | |
YoY Change | -57.22% | ||
Total Short-Term Liabilities | $14.83M | $12.66M | $600.0K |
YoY Change | -40.37% | 2010.17% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $404.0K | $1.647M | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $358.0K | $366.0K | $4.200M |
YoY Change | -91.48% | -91.29% | |
Total Long-Term Liabilities | $762.0K | $2.013M | $4.200M |
YoY Change | -81.86% | -52.07% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $14.83M | $12.66M | $600.0K |
Total Long-Term Liabilities | $762.0K | $2.013M | $4.200M |
Total Liabilities | $15.60M | $14.67M | $4.800M |
YoY Change | -48.32% | 205.71% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$184.7M | -$166.9M | |
YoY Change | 63.7% | ||
Common Stock | $4.000K | $4.000K | |
YoY Change | 100.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $124.8M | $140.9M | -$8.278M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $140.4M | $155.5M | $122.4M |
YoY Change | 1588.15% | 27.07% |
Cashflow Statement
Concept | 2021 Q4 | 2021 Q3 | 2020 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$17.82M | -$18.55M | -$10.00M |
YoY Change | 5649.35% | 85.45% | |
Depreciation, Depletion And Amortization | $46.00K | $58.00K | |
YoY Change | |||
Cash From Operating Activities | -$12.67M | -$16.10M | -$190.0K |
YoY Change | 5407.83% | 8372.11% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$10.00K | -$61.00K | |
YoY Change | |||
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $415.0K | -$120.8M | |
YoY Change | |||
Cash From Investing Activities | $405.0K | -$61.00K | -$120.8M |
YoY Change | -99.95% | ||
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -1.179M | -1.250M | 122.4M |
YoY Change | -101.02% | ||
NET CHANGE | |||
Cash From Operating Activities | -12.67M | -16.10M | -190.0K |
Cash From Investing Activities | 405.0K | -61.00K | -120.8M |
Cash From Financing Activities | -1.179M | -1.250M | 122.4M |
Net Change In Cash | -13.44M | -17.41M | 1.410M |
YoY Change | 5744.35% | -1334.61% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$12.67M | -$16.10M | -$190.0K |
Capital Expenditures | -$10.00K | -$61.00K | |
Free Cash Flow | -$12.66M | -$16.04M | |
YoY Change |
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157682000 | |
CY2021Q3 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
71000 | |
CY2021Q3 | us-gaap |
Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
|
1659000 | |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-18551000 | |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
140861000 | |
us-gaap |
Profit Loss
ProfitLoss
|
-54046000 | ||
us-gaap |
Profit Loss
ProfitLoss
|
-26522000 | ||
us-gaap |
Depreciation
Depreciation
|
185000 | ||
us-gaap |
Depreciation
Depreciation
|
235000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
6114000 | ||
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
393000 | ||
us-gaap |
Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
|
257000 | ||
us-gaap |
Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
|
279000 | ||
us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
6000 | ||
us-gaap |
Induced Conversion Of Convertible Debt Expense
InducedConversionOfConvertibleDebtExpense
|
711000 | ||
gmtx |
Accretion Of Discount On Convertible Notes
AccretionOfDiscountOnConvertibleNotes
|
1600000 | ||
gmtx |
Accretion Of Discount On Convertible Notes
AccretionOfDiscountOnConvertibleNotes
|
1778000 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
4098000 | ||
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1249000 | ||
gmtx |
Increase Decrease In Deferred Offering Costs
IncreaseDecreaseInDeferredOfferingCosts
|
-1341000 | ||
us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
232000 | ||
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-459000 | ||
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1478000 | ||
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
1595000 | ||
us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
205000 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-47032000 | ||
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-23855000 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
61000 | ||
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
22000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-61000 | ||
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-22000 | ||
gmtx |
Proceeds From Business Combination Net
ProceedsFromBusinessCombinationNet
|
195882000 | ||
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
20084000 | ||
us-gaap |
Proceeds From Notes Payable
ProceedsFromNotesPayable
|
14000000 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
110000 | ||
us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
22000 | ||
gmtx |
Principal Payments On Term Loan
PrincipalPaymentsOnTermLoan
|
3333000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
192659000 | ||
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
34106000 | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
145566000 | ||
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
10229000 | ||
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4826000 | |
CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3309000 | |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
150392000 | |
CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
13538000 | |
us-gaap |
Interest Paid Net
InterestPaidNet
|
248000 | ||
us-gaap |
Interest Paid Net
InterestPaidNet
|
250000 | ||
us-gaap |
Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
|
14515000 | ||
gmtx |
Exercise Of Warrants
ExerciseOfWarrants
|
76000 | ||
gmtx |
Proceeds From Exercise Of Stock Options Included In Other Current Assets
ProceedsFromExerciseOfStockOptionsIncludedInOtherCurrentAssets
|
71000 | ||
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
9000 | ||
us-gaap |
Notes Reduction
NotesReduction
|
8177000 | ||
gmtx |
Deferred Offering Costs Included In Accounts Payable And Accrued Expenses And Other Current Liabilities
DeferredOfferingCostsIncludedInAccountsPayableAndAccruedExpensesAndOtherCurrentLiabilities
|
1341000 | ||
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;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:Times New Roman;">1. Nature of the business</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">Gemini Therapeutics, Inc. (the “Company” or “Gemini”) is a clinical-stage precision medicine company developing novel therapeutic compounds to treat genetically defined, age-related macular degeneration. The Company was founded on March 3, 2015 and is currently located in Cambridge, Massachusetts.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">Unless the context otherwise requires, references in these notes to “Gemini”, “the Company”, “we”, “us” and “our” and any related terms are intended to mean Gemini Therapeutics, Inc. and its consolidated subsidiary following the Business Combination (as defined below).</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">Since its inception, the Company has devoted substantially all its efforts and financial resources to organizing and staffing the Company, business planning, raising capital, discovering product candidates and securing related intellectual property rights and conducting research and development activities for our product candidates. The Company’s lead product candidate, GEM103, is currently in Phase 2a clinical development and its other product candidate, GEM307, is in the preclinical stage of development.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">On February 5, 2021 (the “Closing Date”), FS Development Corporation, a Delaware corporation (“FSDC”), consummated the previously announced business combination (the “Business Combination”) pursuant to the terms of the Agreement and Plan of Merger, dated as of October 15, 2020 (as amended, supplemented or otherwise modified from time to time, the “Merger Agreement”), by and among Gemini Therapeutics, Inc., a Delaware corporation (“Old Gemini”), Shareholder Representative Services LLC, a Colorado limited liability company solely in its capacity as the representative, agent and attorney-in-fact of the Company Securityholders (the “Stockholders’ Representative”), FSDC and FSG Merger Sub Inc., a Delaware corporation (“Merger Sub”).</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">FSDC was incorporated in Delaware on June 25, 2020 and was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">On the day prior to the Closing Date, Old Gemini changed its name to “Gemini Therapeutics Sub, Inc.” Pursuant to the Merger Agreement, on the Closing Date, (i) FSDC changed its name to “Gemini Therapeutics, Inc.” and (ii) Old Gemini merged with and into Merger Sub (the “Merger”), with Old Gemini as the surviving company in the Merger and, after giving effect to such Merger, Old Gemini becoming a wholly-owned subsidiary of Gemini. Upon the closing of the Business Combination, and pursuant to the terms of the Merger Agreement, the existing shareholders of Old Gemini exchanged their interests for shares of common stock of Gemini.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">In connection with the Business Combination, certain investors purchased an aggregate of $</span><span style="font-size:10.0pt;font-family:Times New Roman;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:Times New Roman;">95.1</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:Times New Roman;"> million of the Company’s Common Stock in a private placement of public equity (the “PIPE Financing”). Together with FSDC’s cash resources and funding of the PIPE Financing, the Company received net proceeds of approximately $</span><span style="font-size:10.0pt;font-family:Times New Roman;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:Times New Roman;">195.9</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:Times New Roman;"> million.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">For additional information on the Business Combination, please refer to Note 3, </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:Times New Roman;font-style:italic;">Business Combination</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:Times New Roman;">, to these condensed consolidated financial statements.</span></p> | ||
CY2021Q3 | us-gaap |
Cash Available For Distributions
CashAvailableForDistributions
|
150100000 | |
CY2021Q1 | gmtx |
Net Proceeds From Business Combination
NetProceedsFromBusinessCombination
|
195900000 | |
CY2021Q3 | us-gaap |
Business Acquisition Cost Of Acquired Entity Transaction Costs
BusinessAcquisitionCostOfAcquiredEntityTransactionCosts
|
21000000.0 | |
gmtx |
Equity Issuance Costs And Other Costs
EquityIssuanceCostsAndOtherCosts
|
20960000 | ||
us-gaap |
Proceeds From Sales Of Business Affiliate And Productive Assets
ProceedsFromSalesOfBusinessAffiliateAndProductiveAssets
|
195882000 | ||
CY2021Q1 | gmtx |
Number Of Shares Issued Due To Business Combination And Private Investment In Public Equity
NumberOfSharesIssuedDueToBusinessCombinationAndPrivateInvestmentInPublicEquity
|
25041150 | |
CY2021Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
42998664 | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">Use of estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that effect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates contained within these financial statements include, but are not limited to, the accruals of research and development expenses, share-based awards utilized for stock-based compensation purposes and, prior to the Business Combination, the estimated fair value of the Company’s common stock and warrant liability. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Actual results may differ materially from those estimates or assumptions.</span></p> | ||
CY2021Q3 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
300000 | |
CY2020Q4 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
300000 | |
CY2021Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
150069000 | |
CY2020Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
4503000 | |
CY2021Q3 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
323000 | |
CY2020Q4 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
323000 | |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
150392000 | |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
4826000 | |
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;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:Times New Roman;">Concentration of credit risk and of significant suppliers</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in accredited financial institutions in amounts that could exceed federally insured limits. Cash equivalents are invested in money market funds. The Company maintains each of its cash balances with high-quality and accredited financial institutions and accordingly, such funds are not exposed to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;line-height:1.3;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:Times New Roman;">The Company is dependent on third-party manufacturers to supply products for research and development activities in its programs. In particular, the Company relies and expects to continue to rely on a small number of manufacturers to supply its requirements for the active pharmaceutical ingredients and formulated drugs related to these programs. These programs could be adversely affected by a significant interruption in the supply of active pharmaceutical ingredients and formulated drugs.</span></p> | ||
us-gaap |
Property Plant And Equipment Estimated Useful Lives
PropertyPlantAndEquipmentEstimatedUsefulLives
|
Shorter of the useful life of the assetor the life of the lease | ||
CY2021Q3 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
0 | |
CY2020Q4 | us-gaap |
Deferred Offering Costs
DeferredOfferingCosts
|
2600000 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
|
15257 | ||
us-gaap |
Number Of Reporting Units
NumberOfReportingUnits
|
1 | ||
CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
|
15257 | |
CY2019Q1 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
5.46 | |
CY2019Q1 | gmtx |
Contractual Term Of Issuance
ContractualTermOfIssuance
|
P10Y | |
CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
|
15257 | |
CY2020Q4 | gmtx |
Warrant Liability
WarrantLiability
|
76000 | |
gmtx |
Exercise Of Warrants
ExerciseOfWarrants
|
76000 | ||
CY2021Q3 | gmtx |
Warrant Liability
WarrantLiability
|
0 | |
CY2021Q3 | gmtx |
Accrued Payroll And Benefits
AccruedPayrollAndBenefits
|
1832000 | |
CY2020Q4 | gmtx |
Accrued Payroll And Benefits
AccruedPayrollAndBenefits
|
1500000 | |
CY2021Q3 | gmtx |
Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
|
4482000 | |
CY2020Q4 | gmtx |
Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
|
3136000 | |
CY2021Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
371000 | |
CY2020Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
691000 | |
CY2021Q3 | gmtx |
Accrued Interest
AccruedInterest
|
21000 | |
CY2020Q4 | gmtx |
Accrued Interest
AccruedInterest
|
437000 | |
CY2021Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
16000 | |
CY2020Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
46000 | |
CY2021Q3 | gmtx |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
6722000 | |
CY2020Q4 | gmtx |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
5810000 | |
CY2020Q3 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
14000000.0 | |
CY2020Q3 | gmtx |
Accrued Simple Interest
AccruedSimpleInterest
|
0.08 | |
CY2021Q3 | us-gaap |
Other Expenses
OtherExpenses
|
0 | |
us-gaap |
Other Expenses
OtherExpenses
|
700000 | ||
CY2020Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
14000000 | |
CY2020Q4 | us-gaap |
Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
|
2311000 | |
CY2020Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
11689000 | |
CY2020Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
11689000 | |
CY2021Q3 | us-gaap |
Interest Expense Customer Deposits
InterestExpenseCustomerDeposits
|
0 | |
CY2020Q3 | us-gaap |
Interest Expense Customer Deposits
InterestExpenseCustomerDeposits
|
1900000 | |
us-gaap |
Interest Expense Customer Deposits
InterestExpenseCustomerDeposits
|
1700000 | ||
us-gaap |
Interest Expense Customer Deposits
InterestExpenseCustomerDeposits
|
1900000 | ||
CY2020Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10003000 | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-54046000 | ||
us-gaap |
Net Income Loss
NetIncomeLoss
|
-26522000 | ||
CY2021Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
43091822 | |
CY2020Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
15282987 | |
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
39427476 | ||
us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
15016038 | ||
CY2021Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.43 | |
CY2020Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.65 | |
CY2021Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
CY2021Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2021Q3 | gmtx |
Preferred Stock Shares Outstanding1
PreferredStockSharesOutstanding1
|
0 | |
CY2021Q3 | gmtx |
Preferred Stock Shares Issued1
PreferredStockSharesIssued1
|
0 | |
CY2021Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | |
CY2021Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
us-gaap |
Dividends Common Stock
DividendsCommonStock
|
0 | ||
CY2021Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1659000 | |
CY2020Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
161000 | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6114000 | ||
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
393000 | ||
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-18551000 | |
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-1.37 | ||
us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-1.77 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4988293 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1985547 | ||
CY2021Q3 | us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
0 | |
us-gaap |
Costs And Expenses Related Party
CostsAndExpensesRelatedParty
|
100000 | ||
CY2021Q4 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
|
11 |