$IRON
Disc Medicine, Inc.

2023 Q1 Form 10-K Financial Statement

#000095017023011139 Filed on March 31, 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 $4.950M $710.0K $14.04M
YoY Change 5.93% -86.1% -30.1%
% of Gross Profit
Research & Development $20.18M $20.62M $33.44M
YoY Change 105.83% 63.21% -31.36%
% of Gross Profit
Depreciation & Amortization $25.00K $90.00K $89.00K
YoY Change 95.65% -61.47%
% of Gross Profit
Operating Expenses $25.13M $21.33M $47.48M
YoY Change 65.55% 20.22% -31.2%
Operating Profit -$25.13M -$47.48M
YoY Change 65.55% -31.2%
Interest Expense $2.370M $150.0K $650.0K
YoY Change 3490.91% -285.19% -69.88%
% of Operating Profit
Other Income/Expense, Net $2.367M -$50.00K $648.0K
YoY Change 78800.0% -7.43%
Pretax Income -$22.76M -$21.23M -$46.83M
YoY Change 49.42% 19.12% -34.84%
Income Tax $23.00K $0.00
% Of Pretax Income
Net Earnings -$22.78M -$21.23M -$46.83M
YoY Change 49.57% 19.12% -34.84%
Net Earnings / Revenue
Basic Earnings Per Share -$1.20 -$45.05
Diluted Earnings Per Share -$1.20 -$1.22 -$45.05
COMMON SHARES
Basic Shares Outstanding 19.00M 43.33M 1.039M
Diluted Shares Outstanding 18.95M 1.039M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $236.4M $194.6M $194.6M
YoY Change 98.55% 42.43% 42.43%
Cash & Equivalents $236.4M $194.6M $194.6M
Short-Term Investments
Other Short-Term Assets $5.700M $3.900M $3.900M
YoY Change 13.91% 12.29% 12.29%
Inventory
Prepaid Expenses $5.716M $3.880M
Receivables
Other Receivables
Total Short-Term Assets $242.1M $198.5M $198.5M
YoY Change 95.17% 41.68% 41.68%
LONG-TERM ASSETS
Property, Plant & Equipment $180.0K $168.0K $1.600M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $116.0K $116.0K $100.0K
YoY Change -46.54% -51.05% -70.33%
Total Long-Term Assets $1.642M $1.714M $1.700M
YoY Change 656.68% 408.61% 404.45%
TOTAL ASSETS
Total Short-Term Assets $242.1M $198.5M $198.5M
Total Long-Term Assets $1.642M $1.714M $1.700M
Total Assets $243.8M $200.2M $200.2M
YoY Change 96.15% 42.56% 42.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.642M $16.16M $16.20M
YoY Change 10.41% 447.86% 449.15%
Accrued Expenses $4.025M $6.109M $6.400M
YoY Change 18.21% -11.26% -7.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.980M $22.58M $22.60M
YoY Change -21.26% 52.2% 52.35%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $900.0K $1.000M $1.000M
YoY Change 179.33% 179.33%
Total Long-Term Liabilities $900.0K $1.000M $1.000M
YoY Change 31.23% 31.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.980M $22.58M $22.60M
Total Long-Term Liabilities $900.0K $1.000M $1.000M
Total Liabilities $10.93M $23.61M $23.60M
YoY Change -13.8% 51.35% 51.32%
SHAREHOLDERS EQUITY
Retained Earnings -$135.0M -$112.2M
YoY Change -32.47% -39.25%
Common Stock $2.000K $2.000K
YoY Change -50.0% -50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $232.9M $176.6M $176.6M
YoY Change
Total Liabilities & Shareholders Equity $243.8M $200.2M $200.2M
YoY Change 96.15% 42.56% 42.56%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$22.78M -$21.23M -$46.83M
YoY Change 49.57% 19.12% -34.84%
Depreciation, Depletion And Amortization $25.00K $90.00K $89.00K
YoY Change 95.65% -61.47%
Cash From Operating Activities -$35.47M -$12.40M -$42.25M
YoY Change 117.08% -2.12% -29.23%
INVESTING ACTIVITIES
Capital Expenditures $29.00K $150.0K $151.0K
YoY Change -71.0% -1600.0% 112.68%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$29.00K -$150.0K -$151.0K
YoY Change -71.0% -137.04% -143.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $53.50M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 77.31M 154.4M 149.0M
YoY Change -6410.69% -13191.6% -22.2%
NET CHANGE
Cash From Operating Activities -35.47M -12.40M -42.25M
Cash From Investing Activities -29.00K -150.0K -151.0K
Cash From Financing Activities 77.31M 154.4M 149.0M
Net Change In Cash 41.81M 141.8M 106.6M
YoY Change -338.06% -1154.9% -19.34%
FREE CASH FLOW
Cash From Operating Activities -$35.47M -$12.40M -$42.25M
Capital Expenditures $29.00K $150.0K $151.0K
Free Cash Flow -$35.50M -$12.55M -$42.40M
YoY Change 115.93% -0.85% -29.06%

Facts In Submission

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CY2021 iron Settlement Of Derivative Liability Upon Issuance Of Common Stock To Roche
SettlementOfDerivativeLiabilityUponIssuanceOfCommonStockToRoche
0
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
194600000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-112200000
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align: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;Times New Roman&quot;, 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;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;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;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the Company’s consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Significant estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align: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;Times New Roman&quot;, serif;min-width:fit-content;">and assumptions reflected in these consolidated financial statements include, but are not limited to accrued research and development expenses; stock-based compensation expense; the fair value of the common stock prior to the effective date of the merger; the fair value determinations for instruments accounted for at fair value including contingent amounts payable to third parties upon the consummation of specified transactions, including a Roche Qualified Transaction (see Note 8); the fair value of Gemini’s development programs underlying the CVR; the incremental borrowing rate for determining lease liabilities and right-of-use assets and income taxes. The Company bas</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">es its estimates on historical experience, known trends and other market-specific or other relevant factors that it has concluded to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ materially from those estimates or assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align: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;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk and of Significant Suppliers</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;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;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in a federally insured financial institution in excess of federally insured limits and limits its exposure to cash risk by placing its cash with a high credit quality accredited financial institution. The Company has concluded that it is not subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;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;Times New Roman&quot;, serif;min-width:fit-content;">The Company relies, and expects to continue to rely, on a small number of vendors to manufacture supplies and to process its product candidates for its development programs. These programs could be adversely affected by a significant interruption in the manufacturing process or supply chain.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2021 iron Deferred Merger Transaction Costs
DeferredMergerTransactionCosts
1700000
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
194611000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
88036000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
177000
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
177000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
194788000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88213000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
145000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
56000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
168000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
106000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3623000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1177000
CY2022Q4 iron Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
1817000
CY2021Q4 iron Accrued Research And Development Expense
AccruedResearchAndDevelopmentExpense
2297000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
463000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
601000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
206000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
21000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6109000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4096000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
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10000000
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
84166665
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
84166665
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
84166665
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
141856000
CY2021Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
145000000
CY2021Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
84166665
CY2021 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.08
CY2021 us-gaap Dividends Preferred Stock
DividendsPreferredStock
0
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2640590
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.48
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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CY2022 iron Share Based Compensation Arrangement By Sharebased Payment Award Options Assumed In Reverse Recapitalization In Period
ShareBasedCompensationArrangementBySharebasedPaymentAwardOptionsAssumedInReverseRecapitalizationInPeriod
303497
CY2022 iron Share Based Compensation Arrangements By Sharebased Payment Award Options Assumed In Reverse Recapitalization In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsBySharebasedPaymentAwardOptionsAssumedInReverseRecapitalizationInPeriodWeightedAverageExercisePrice
71.56
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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16.19
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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25513000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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24.53
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
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CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2022Q4 us-gaap Share Price
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CY2021Q4 us-gaap Share Price
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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CY2021 us-gaap Allocated Share Based Compensation Expense
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CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y11M23D
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements State And Local
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Settlements State And Local
EffectiveIncomeTaxRateReconciliationTaxSettlementsStateAndLocal
0.073
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.013
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
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CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
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CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
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CY2022Q4 iron Deferred Tax Assets Tax Credit
DeferredTaxAssetsTaxCredit
3550000
CY2021Q4 iron Deferred Tax Assets Tax Credit
DeferredTaxAssetsTaxCredit
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CY2022Q4 iron Capitalized Licenses
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CY2021Q4 iron Capitalized Licenses
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
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CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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565000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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34000
CY2022Q4 iron Operating Lease Liabilities
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359000
CY2021Q4 iron Operating Lease Liabilities
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452000
CY2022Q4 us-gaap Deferred Tax Assets Gross
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36522000
CY2021Q4 us-gaap Deferred Tax Assets Gross
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20467000
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36102000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
19997000
CY2022Q4 us-gaap Deferred Tax Assets Net
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420000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
470000
CY2022Q4 iron Operating Lease Right Of Use Assets
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CY2021Q4 iron Operating Lease Right Of Use Assets
OperatingLeaseRightOfUseAssets
-448000
CY2022Q4 iron Deferred Tax Liabilities Depreciation
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-35000
CY2021Q4 iron Deferred Tax Liabilities Depreciation
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CY2022Q4 us-gaap Deferred Income Tax Liabilities
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420000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
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470000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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0
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
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0
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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16100000
CY2015Q4 us-gaap Accrued Payroll Taxes Current
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300000
CY2022 us-gaap Net Income Loss
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CY2021 us-gaap Net Income Loss
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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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1039490
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1039490
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
878407
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
878407
CY2022 us-gaap Earnings Per Share Basic
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-45.05
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-45.05
CY2021 us-gaap Earnings Per Share Basic
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-40.95
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-40.95
CY2021 us-gaap Operating Lease Payments
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250000
CY2021Q3 us-gaap Lease Incentive Receivable
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100000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
0
CY2021Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2021Q4 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
7566
CY2022 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The lease term began in November 2021 and will end in November 2026, unless terminated earlier. The lease contains a five-year renewal option, which the Company is not reasonably certain to exercise. Fixed lease payments include base rent, subject to annual rent increases, and a management fee.
CY2021Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2022 us-gaap Lessee Operating Lease Variable Lease Payment Terms And Conditions
LesseeOperatingLeaseVariableLeasePaymentTermsAndConditions
Variable lease payments include the Company’s allocated share of costs incurred for real estate taxes, utilities, and other operating expenses applicable to the leased premises.
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
422000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
187000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
177000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
42000
CY2022 us-gaap Lease Cost
LeaseCost
599000
CY2021 us-gaap Lease Cost
LeaseCost
229000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M28D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y10M28D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
480000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
373000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
382000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
394000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
336000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
0
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1485000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
151000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1334000

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