2020 Q3 Form 10-Q Financial Statement
#000156459020054179 Filed on November 16, 2020
Income Statement
| Concept | 2020 Q3 | 2019 Q3 | 2019 Q2 |
|---|---|---|---|
| Revenue | $3.308M | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% | |
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $4.540M | $3.150M | $3.680M |
| YoY Change | 44.13% | -24.1% | -7.07% |
| % of Gross Profit | |||
| Research & Development | $5.489M | $10.15M | $16.93M |
| YoY Change | -45.89% | -34.93% | 34.28% |
| % of Gross Profit | |||
| Depreciation & Amortization | $40.00K | $360.0K | $350.0K |
| YoY Change | -88.89% | 5.88% | -33.96% |
| % of Gross Profit | |||
| Operating Expenses | $9.214M | $13.30M | $20.61M |
| YoY Change | -30.72% | -32.63% | 24.43% |
| Operating Profit | -$5.906M | -$13.30M | -$20.61M |
| YoY Change | -55.59% | -28.83% | 31.1% |
| Interest Expense | $501.0K | $220.0K | $300.0K |
| YoY Change | 127.73% | 29.41% | 57.89% |
| % of Operating Profit | |||
| Other Income/Expense, Net | -$479.0K | $242.0K | $292.0K |
| YoY Change | -297.93% | 178.16% | 534.78% |
| Pretax Income | -$8.170M | -$12.83M | -$20.02M |
| YoY Change | -36.32% | -30.39% | 29.33% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$6.385M | -$12.83M | -$20.02M |
| YoY Change | -50.25% | -30.36% | 29.33% |
| Net Earnings / Revenue | -193.02% | ||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$3.130M | -$5.031M | -$7.851M |
| COMMON SHARES | |||
| Basic Shares Outstanding | |||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2020 Q3 | 2019 Q3 | 2019 Q2 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $40.80M | $77.80M | $88.00M |
| YoY Change | -47.56% | 67.67% | 44.74% |
| Cash & Equivalents | $27.40M | $35.30M | $28.64M |
| Short-Term Investments | $5.000M | $42.50M | $59.40M |
| Other Short-Term Assets | $800.0K | $1.900M | $3.100M |
| YoY Change | -57.89% | 0.0% | 47.62% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $41.60M | $79.69M | $91.09M |
| YoY Change | -47.8% | 65.0% | 44.68% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $12.00M | $464.0K | $513.0K |
| YoY Change | 2486.21% | -96.86% | -96.69% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $800.0K | $112.0K | $75.00K |
| YoY Change | 614.29% | -86.0% | -92.5% |
| Total Long-Term Assets | $12.75M | $14.34M | $14.66M |
| YoY Change | -11.11% | -8.64% | -11.37% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $41.60M | $79.69M | $91.09M |
| Total Long-Term Assets | $12.75M | $14.34M | $14.66M |
| Total Assets | $54.35M | $94.04M | $105.7M |
| YoY Change | -42.2% | 46.93% | 33.02% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $882.0K | $4.068M | $3.160M |
| YoY Change | -78.32% | 89.65% | 66.32% |
| Accrued Expenses | $3.670M | $6.377M | $6.863M |
| YoY Change | -42.45% | -32.16% | -8.49% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $369.0K | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $6.200M | $11.57M | $11.13M |
| YoY Change | -46.43% | -0.22% | 18.37% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $11.10M | $12.30M | $12.60M |
| YoY Change | -9.76% | -8.89% | -8.03% |
| Total Long-Term Liabilities | $11.10M | $12.30M | $12.60M |
| YoY Change | -9.76% | -8.89% | -8.03% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $6.200M | $11.57M | $11.13M |
| Total Long-Term Liabilities | $11.10M | $12.30M | $12.60M |
| Total Liabilities | $17.30M | $23.92M | $23.76M |
| YoY Change | -27.67% | -4.71% | 2.87% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$363.6M | -$324.8M | -$312.0M |
| YoY Change | 11.94% | ||
| Common Stock | $51.00K | ||
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | -$104.0M | $70.12M | $81.99M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $54.35M | $94.04M | $105.7M |
| YoY Change | -42.2% | 46.93% | 33.02% |
Cashflow Statement
| Concept | 2020 Q3 | 2019 Q3 | 2019 Q2 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$6.385M | -$12.83M | -$20.02M |
| YoY Change | -50.25% | -30.36% | 29.33% |
| Depreciation, Depletion And Amortization | $40.00K | $360.0K | $350.0K |
| YoY Change | -88.89% | 5.88% | -33.96% |
| Cash From Operating Activities | -$7.780M | -$10.51M | -$17.62M |
| YoY Change | -25.98% | -28.16% | 37.23% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $0.00 | $0.00 | |
| YoY Change | -100.0% | ||
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $1.000M | $17.15M | $14.67M |
| YoY Change | -94.17% | 20.1% | 376.3% |
| Cash From Investing Activities | $1.000M | $17.15M | $14.67M |
| YoY Change | -94.17% | 20.1% | 449.44% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -330.0K | 20.00K | 0.000 |
| YoY Change | -1750.0% | -85.71% | -100.0% |
| NET CHANGE | |||
| Cash From Operating Activities | -7.780M | -10.51M | -17.62M |
| Cash From Investing Activities | 1.000M | 17.15M | 14.67M |
| Cash From Financing Activities | -330.0K | 20.00K | 0.000 |
| Net Change In Cash | -7.110M | 6.660M | -2.950M |
| YoY Change | -206.76% | -3271.43% | -1835.29% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$7.780M | -$10.51M | -$17.62M |
| Capital Expenditures | $0.00 | $0.00 | |
| Free Cash Flow | -$10.51M | -$17.62M | |
| YoY Change | -28.16% | 41.75% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2020Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
3670000 | |
| CY2020Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1231000 | |
| CY2020Q3 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
369000 | |
| CY2020Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
882000 | |
| CY2020Q3 | us-gaap |
Restructuring Charges
RestructuringCharges
|
2401000 | |
| us-gaap |
Restructuring Charges
RestructuringCharges
|
2401000 | ||
| CY2020Q3 | us-gaap |
Interest Expense
InterestExpense
|
4000 | |
| us-gaap |
Interest Expense
InterestExpense
|
13000 | ||
| us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
850000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-47269000 | ||
| CY2020Q3 | us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
33000 | |
| us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1598000 | ||
| us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
58000 | ||
| us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
-7000 | ||
| CY2019Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
81985000 | |
| CY2019Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
961000 | |
| CY2019Q3 | us-gaap |
Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
|
25000 | |
| CY2019Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
70121000 | |
| CY2020Q3 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
828000 | |
| CY2020Q3 | us-gaap |
Assets
Assets
|
54351000 | |
| CY2020Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-363600000 | |
| CY2020Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
37087000 | |
| CY2020Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
54351000 | |
| CY2020Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2020Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
5000000 | |
| CY2020Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2020Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2020Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1240000 | |
| CY2020Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2020Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
125000000 | |
| CY2020Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
52180380 | |
| CY2020Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
52180380 | |
| us-gaap |
Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
|
5000000 | ||
| CY2020Q3 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4536000 | |
| CY2020Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
44936000 | |
| CY2020Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
287000 | |
| CY2018Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
114342000 | |
| us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
3000 | ||
| us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2710000 | ||
| us-gaap |
Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
|
78000 | ||
| us-gaap |
Profit Loss
ProfitLoss
|
-26940000 | ||
| us-gaap |
Profit Loss
ProfitLoss
|
-47269000 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
126000 | ||
| us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
150000 | ||
| us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
949000 | ||
| us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
909000 | ||
| us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
38000 | ||
| us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
850000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1598000 | ||
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2710000 | ||
| us-gaap |
Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
|
242000 | ||
| us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
-583000 | ||
| us-gaap |
Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
|
-548000 | ||
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
112000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1401000 | ||
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
2184000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-3194000 | ||
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
716000 | ||
| pti |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
-856000 | ||
| pti |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
-783000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-29173000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-41555000 | ||
| us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
16227000 | ||
| us-gaap |
Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
|
63040000 | ||
| us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
55717000 | ||
| us-gaap |
Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
|
111017000 | ||
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
9000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
39490000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
47968000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
3000 | ||
| us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
58000 | ||
| us-gaap |
Proceeds From Stock Plans
ProceedsFromStockPlans
|
78000 | ||
| us-gaap |
Proceeds From Short Term Debt
ProceedsFromShortTermDebt
|
1220000 | ||
| us-gaap |
Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
|
851000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
427000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
81000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
10744000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
6494000 | ||
| CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
25836000 | |
| CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
29638000 | |
| CY2020Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
36580000 | |
| CY2019Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
36132000 | |
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:4.54%;white-space:nowrap"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Nature of the Business</p></td></tr></table></div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Proteostasis Therapeutics, Inc. (the “Company”) was incorporated in Delaware on December 13, 2006. The Company is a clinical stage biopharmaceutical company committed to the discovery and development of novel therapeutics to treat cystic fibrosis (“CF”) through theratyping, or the process of matching modulators to individual response to treatment regardless of cystic fibrosis transmembrane conductance regulator (“CFTR”) mutations. CF is a disease caused by defects in the function or abundance of CFTR protein. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Since its inception, the Company has devoted substantially all of its efforts to organizing and staffing the Company, business planning, raising capital, acquiring and developing product and technology rights, and conducting research and development activities. It has funded its operations to date with proceeds from the sale of preferred stock, the issuance of convertible promissory notes, proceeds from its initial public offering in February 2016, proceeds from its follow-on public offerings, and payments received in connection with collaboration agreements and a research grant, as well as funds from the sale of stock under at-the-market offering programs. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In August 2020, the Company announced that after consideration of various financing and strategic alternatives for its CF portfolio, with the goal of maximizing stockholder value of these assets, it has decided to continue its operations while exploring business and strategic options related to its research and discovery platform and intellectual property portfolio.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On August 14, 2020, the Company formed Pangolin Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of the Company (“Merger Sub”). </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">After conducting a process of evaluating strategic alternatives for the Company, on August 22, 2020, the Company entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) with Yumanity Therapeutics, Inc., a Delaware corporation (“Yumanity”), Yumanity Holdings, LLC, a Delaware limited liability company (“Holdings) and the Merger Sub, which was subsequently amended on November 6, 2020. Upon the terms and subject to the satisfaction of the conditions described in the Merger Agreement, including approval of the transaction by the Company’s stockholders and Yumanity’s stockholders and the consolidation of Yumanity and Holdings prior to the closing of the transaction, Merger Sub will be merged with and into Yumanity (the “Merger”), with Yumanity surviving the Merger as a wholly-owned subsidiary of the Company. If the Merger is completed, the business of the Company will become the business of Yumanity. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Merger is expected to be treated by the Company as a reverse merger accounted for as an asset acquisition in accordance with accounting principles generally accepted in the United States (“GAAP”). For accounting purposes, Yumanity is considered to be acquiring the Company in the Merger. In accordance with the accounting guidance under Accounting Standard Updates (or “ASU”) 2017-01, the Merger is considered an asset acquisition. Accordingly, the assets and liabilities of the Company will be recorded as of the closing date of the Merger at the purchase price of the accounting acquirer. The Merger is expected to close in the fourth quarter of 2020, subject to the approval by the Company’s stockholders at a special meeting of the Company’s stockholders to be held on December 16, 2020, as well as other customary conditions. Upon completion of the Merger, the combined company will be renamed Yumanity Therapeutics, Inc., and is expected to trade on the Nasdaq Capital Market under the ticker symbol “YMTX”.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On August 22, 2020, due to the entry into of the Merger Agreement with Yumanity, the Company’s Board of Directors (the “Board”) committed to reducing its workforce by approximately 79% to a total of five full-time employees, who will remain with the Company until the closing of the Merger to assist with its day-to-day business operations, including the maintenance of the sale and disposition of the Company’s intellectual property and assets relating to its cystic fibrosis clinical program (the “CF Assets”), and those activities necessary to complete the proposed Merger. The Company has also retained its core intellectual property, licenses, collaborations with research institutions and universities, and proprietary equipment. The Company has incurred certain restructuring costs related to a reduction in its workforce, totaling $2.4 million through September 30, 2020. At September 30, 2020, the Company has have accrued one-time termination benefits of $1.6 million, of which the majority of this amount is anticipated to be incurred in the fourth quarter of 2020. In addition to restructuring costs, the Company has incurred approximately $1.6 million in other merger-related costs, which are included in the general and administrative costs on the Company’s statement of operations and consists primarily of professional fees. </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Although the Company has entered into the Merger Agreement and intends to consummate the Merger, there is no assurance that it will be able to successfully consummate the Merger on a timely basis, or at all. If, for any reason, the Merger does not close, the Company’s Board may elect to, among other things, attempt to complete another strategic transaction like the Merger, attempt to sell or otherwise dispose of the Company’s various assets, resume the Company’s research and development activities and continue to operate the Company’s business or dissolve and liquidate its assets. If the Company decides to dissolve and liquidate its assets, it would be required to pay all of its debts and contractual obligations, and set aside certain reserves for potential future claims, and there can be no assurances as to the amount or timing of available cash left, if any, to distribute to the Company’s stockholders after paying its debts and other obligations and setting aside funds for reserves. If the Company were to continue its business, it would need to raise a substantial amount of cash to fund ongoing operations and future development activities for its existing product candidates.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has not generated any commercial revenue since inception. As a result, the Company has incurred recurring losses and requires significant cash resources to execute its business plans. In accordance with ASC 205-40, <font style="font-style:italic;">Going Concern</font> (“ASC 205-40”), the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date the consolidated financial statements are issued<font style="color:#000000;">.</font> <font style="color:#000000;">As of September 30, 2020, the Company had an accumulated deficit of $363.6 million. The Company has incurred losses and negative cash flows from operations since its inception. During the nine months ended September 30, 2020, the Company incurred losses of $26.9 million and used $29.2 million of cash in operations. </font>The Company expects that its operating losses and negative cash flows will continue for the foreseeable future. The Company currently expects that its cash, cash equivalents and short-term investments of<font style="color:#000000;"> $40.8 million will be sufficient to fund its operating expenses and capital requirements, based upon its current operating plan, for at least 12 months from the date that these consolidated financial statements are issued.</font> </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The <font style="color:#000000;">novel coronavirus (“COVID-19”)</font> pandemic continues to rapidly evolve and has already resulted in a significant disruption of global financial markets and may affect the Company’s operations and those of third parties on which the Company relies. While the potential economic impact brought by, and the duration of, the COVID-19 pandemic is difficult to assess or predict, the impact of the COVID-19 pandemic on the global financial markets may reduce the Company’s ability to access capital, which could negatively impact the Company’s short-term and long-term liquidity and the Company’s and Yumanity’s ability to complete the Merger on a timely basis or at all. The ultimate impact of the COVID-19 pandemic is highly uncertain and subject to change. The Company does not yet know the full extent of potential delays or impacts on its business, financing or other activities or on healthcare systems or the global economy as a whole. However, these effects could have a material impact on the Company’s liquidity, capital resources, operations and business and those of the third parties on which the Company relies.</p> | ||
| CY2020Q3 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
40800000 | |
| CY2020Q3 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
5000000 | |
| us-gaap |
Comparability Of Prior Year Financial Data
ComparabilityOfPriorYearFinancialData
|
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Summary of Significant Accounting Policies</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s significant accounting policies, which are disclosed in the audited financial statements for the year ended December 31, 2019 and the notes thereto, are included in the Company’s Annual Report on Form 10-K that was filed with the SEC on March 10, 2020 (the “Annual Report”). There were no changes to significant accounting policies during the three and nine months ended September 30, 2020. </p> | ||
| us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | ||
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, revenue recognition, the accrual for research and development expenses, and the valuation the derivative liability. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.</p> | ||
| us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:4.54%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain prior year amounts have been reclassified for consistency with the current year presentation. An adjustment has also been made to the condensed statement of cash flows for the period ended September 30, 2019, to reclassify non-cash lease expense out of depreciation and amortization. </p> | ||
| CY2020Q1 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
1563498 | |
| CY2020Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
288000 | |
| CY2019Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
961000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1598000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2952000 | ||
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4364839 | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1663000 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
1862404 | ||
| CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4165435 | |
| CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
2776235 | |
| CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
4082185 | |
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
5.30 | |
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
1.56 | ||
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
3.52 | ||
| CY2019Q4 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
44452000 | |
| CY2019Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
9000 | |
| CY2019Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
2000 | |
| CY2020Q3 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
5000000 | |
| CY2019Q4 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
44459000 | |
| CY2020Q3 | us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | |
| CY2019Q3 | us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | |
| us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | ||
| CY2020Q3 | us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | |
| CY2019Q3 | us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | |
| us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | ||
| us-gaap |
Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
|
0 | ||
| CY2020Q3 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
11999000 | |
| CY2019Q4 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
44459000 | |
| CY2020Q3 | us-gaap |
Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
|
0 | |
| CY2019Q4 | us-gaap |
Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
|
0 | |
| CY2020Q3 | us-gaap |
Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
|
0 | |
| CY2019Q4 | us-gaap |
Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
|
0 | |
| CY2020Q3 | us-gaap |
Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
|
0 | |
| CY2019Q4 | us-gaap |
Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
|
0 | |
| CY2020Q3 | us-gaap |
Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
|
0 | |
| CY2019Q4 | us-gaap |
Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
|
0 | |
| pti |
Fair Value Option Methodology And Assumption
FairValueOptionMethodologyAndAssumption
|
Monte-Carlo simulation analysis | ||
| CY2020Q3 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
0 | |
| CY2019Q4 | us-gaap |
Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
|
0 | |
| CY2020Q3 | pti |
Prepaid Clinical Manufacturing And Scientific Expenses Current
PrepaidClinicalManufacturingAndScientificExpensesCurrent
|
80000 | |
| CY2019Q4 | pti |
Prepaid Clinical Manufacturing And Scientific Expenses Current
PrepaidClinicalManufacturingAndScientificExpensesCurrent
|
767000 | |
| CY2020Q3 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
684000 | |
| CY2019Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
125000 | |
| CY2020Q3 | pti |
Other Prepaid Expenses And Other Current Assets
OtherPrepaidExpensesAndOtherCurrentAssets
|
57000 | |
| CY2019Q4 | pti |
Other Prepaid Expenses And Other Current Assets
OtherPrepaidExpensesAndOtherCurrentAssets
|
512000 | |
| CY2020Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2334000 | |
| CY2019Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3203000 | |
| CY2020Q3 | pti |
Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
|
685000 | |
| CY2019Q4 | pti |
Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
|
3186000 | |
| CY2020Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
635000 | |
| CY2019Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
397000 | |
| CY2020Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
16000 | |
| CY2019Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
78000 | |
| CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
4.60 | |
| CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
5.58 | |
| CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
4.65 | |
| CY2019 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y3M25D | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P6Y10M24D | ||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P6Y2M8D | ||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P7Y10D | ||
| CY2019Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
|
132000 | |
| CY2020Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
|
7000 | |
| CY2020Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
7000 | |
| CY2020Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
7000 | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
1800000 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.09 | ||
| pti |
Share Based Compensation Arrangement By Share Based Payment Award Requisite Service Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardRequisiteServicePeriod
|
P4Y | ||
| us-gaap |
Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
|
2401000 | ||
| pti |
Restructuring Reserve Costs Paid Or Otherwise Settled
RestructuringReserveCostsPaidOrOtherwiseSettled
|
-796000 | ||
| CY2020Q3 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
1605000 | |
| CY2020Q3 | us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| CY2019Q3 | us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| us-gaap |
Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| CY2020Q3 | us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| CY2019Q3 | us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | |
| us-gaap |
State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
|
0 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4165435 | ||
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4545064 | ||
| CY2018Q1 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P10Y | |
| CY2018Q1 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P7Y | |
| CY2020Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
462000 | |
| CY2019Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
462000 | |
| CY2020Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
158000 | |
| CY2019Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
182000 | |
| CY2020Q3 | us-gaap |
Lease Cost
LeaseCost
|
620000 | |
| CY2019Q3 | us-gaap |
Lease Cost
LeaseCost
|
644000 | |
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1387000 | ||
| us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1387000 | ||
| us-gaap |
Variable Lease Cost
VariableLeaseCost
|
420000 | ||
| us-gaap |
Variable Lease Cost
VariableLeaseCost
|
494000 | ||
| us-gaap |
Lease Cost
LeaseCost
|
1807000 | ||
| us-gaap |
Lease Cost
LeaseCost
|
1881000 | ||
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1296000 | ||
| us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1261000 | ||
| CY2020Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P7Y7M2D | |
| CY2019Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P8Y7M2D | |
| CY2020Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0450 | |
| CY2019Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0450 | |
| CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
437000 | |
| CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
1780000 | |
| CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
1829000 | |
| CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
1880000 | |
| CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
1931000 | |
| CY2020Q3 | pti |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
6825000 | |
| CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
14682000 | |
| CY2020Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
2342000 | |
| CY2020Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
12340000 |
