$LTRN
Lantern Pharma Inc

2022 Q4 Form 10-Q Financial Statement

#000149315222030819 Filed on November 07, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 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 $1.575M $1.443M $1.184M
YoY Change 16.73% 21.82% 7.68%
% of Gross Profit
Research & Development $2.252M $702.3K $2.964M
YoY Change 4.13% -76.31% 394.07%
% of Gross Profit
Depreciation & Amortization $2.760K $2.950K $1.850K
YoY Change 38.69% 59.46%
% of Gross Profit
Operating Expenses $3.826M $2.145M $4.149M
YoY Change 8.97% -48.29% 144.05%
Operating Profit -$2.145M -$4.149M
YoY Change -48.29%
Interest Expense $74.68K $52.22K $77.22K
YoY Change -366.43% -32.38%
% of Operating Profit
Other Income/Expense, Net $370.5K -$171.6K $17.68K
YoY Change -1070.86%
Pretax Income -$3.381M -$2.265M -$4.054M
YoY Change -4.5% -44.14% 138.47%
Income Tax
% Of Pretax Income
Net Earnings -$3.381M -$2.265M -$4.054M
YoY Change -4.5% -44.14% 138.47%
Net Earnings / Revenue
Basic Earnings Per Share -$0.21 -$0.36
Diluted Earnings Per Share -$0.31 -$208.9K -$362.4K
COMMON SHARES
Basic Shares Outstanding 10.86M shares 10.83M shares 11.19M shares
Diluted Shares Outstanding 10.84M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.20M $57.83M $73.83M
YoY Change -21.96% -21.68% 254.96%
Cash & Equivalents $37.20M $39.26M $54.67M
Short-Term Investments $17.99M $18.57M $19.16M
Other Short-Term Assets $3.527M $4.193M $2.504M
YoY Change 77.13% 67.45% 49.95%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $58.72M $62.02M $76.34M
YoY Change -19.24% -18.75% 239.58%
LONG-TERM ASSETS
Property, Plant & Equipment $48.01K $43.81K $251.7K
YoY Change 58.73% -82.59% 1158.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.89K $17.89K $1.018M
YoY Change 0.0% -98.24%
Total Long-Term Assets $113.6K $144.6K $1.270M
YoY Change -90.8% -88.61% 12595.6%
TOTAL ASSETS
Total Short-Term Assets $58.72M $62.02M $76.34M
Total Long-Term Assets $113.6K $144.6K $1.270M
Total Assets $58.84M $62.16M $77.61M
YoY Change -20.44% -19.9% 245.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.745M $3.047M $1.637M
YoY Change 26.28% 86.17% 102.05%
Accrued Expenses $52.89K $92.02K $149.0K
YoY Change -65.22% -38.23%
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 $2.798M $3.139M $1.786M
YoY Change 20.3% 75.79% 120.44%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $0.00 $0.00 $92.02K
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00 $92.02K
YoY Change -100.0% -100.0% -16.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.798M $3.139M $1.786M
Total Long-Term Liabilities $0.00 $0.00 $92.02K
Total Liabilities $2.798M $3.139M $1.878M
YoY Change 17.62% 67.18% 104.09%
SHAREHOLDERS EQUITY
Retained Earnings -$39.28M -$35.90M
YoY Change 56.99%
Common Stock $1.086K $1.086K
YoY Change -2.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $56.04M $59.03M $75.73M
YoY Change
Total Liabilities & Shareholders Equity $58.84M $62.16M $77.61M
YoY Change -20.44% -19.9% 245.07%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$3.381M -$2.265M -$4.054M
YoY Change -4.5% -44.14% 138.47%
Depreciation, Depletion And Amortization $2.760K $2.950K $1.850K
YoY Change 38.69% 59.46%
Cash From Operating Activities -$2.669M -$4.038M -$4.683M
YoY Change 30.89% -13.76% 62.03%
INVESTING ACTIVITIES
Capital Expenditures $6.950K -$6.710K -$3.490K
YoY Change 92.26%
Acquisitions
YoY Change
Other Investing Activities $609.8K -$67.65K -$999.0K
YoY Change -360.65% -93.23%
Cash From Investing Activities $602.9K -$74.36K -$1.003M
YoY Change -357.68% -92.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -2.669M -4.038M -4.683M
Cash From Investing Activities 602.9K -74.36K -1.003M
Cash From Financing Activities 0.000 0.000 0.000
Net Change In Cash -2.066M -4.113M -5.685M
YoY Change -34.32% -27.66% 90.14%
FREE CASH FLOW
Cash From Operating Activities -$2.669M -$4.038M -$4.683M
Capital Expenditures $6.950K -$6.710K -$3.490K
Free Cash Flow -$2.676M -$4.032M -$4.679M
YoY Change 31.23% -13.84% 61.91%

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CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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LTRN Noncash Lease Adjustments
NoncashLeaseAdjustments
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NoncashLeaseAdjustments
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us-gaap Share Based Compensation
ShareBasedCompensation
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ShareBasedCompensation
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us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
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LTRN Gain On Loan Forgiveness
GainOnLoanForgiveness
109223 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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us-gaap Debt Securities Available For Sale Realized Gain Loss
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us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
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UnrealizedGainLossOnInvestments
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us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
1759848 usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20889 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
3322386 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
19281130 usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
2919682 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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LTRN Proceeds From Issuance Of Common And Preferred Stock
ProceedsFromIssuanceOfCommonAndPreferredStock
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us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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LTRN Proceeds From Stock Option And Warrant Exercises
ProceedsFromStockOptionAndWarrantExercises
299788 usd
LTRN Proceeds From Stock Option And Warrant Exercises
ProceedsFromStockOptionAndWarrantExercises
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
36439788 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
55669020 usd
CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
54669020 usd
CY2022Q3 us-gaap Restricted Cash
RestrictedCash
541180 usd
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
39799067 usd
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
55669020 usd
LTRN Application Of Deferred Offering Costs To Public Offering Proceeds
ApplicationOfDeferredOfferingCostsToPublicOfferingProceeds
-49324 usd
us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
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us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
-102689 usd
us-gaap Net Income Loss
NetIncomeLoss
-10879000 usd
us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q3 LTRN Working Capital
WorkingCapital
58881000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_840_eus-gaap--UseOfEstimates_zYDQmMH4Uqge" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Use of Estimates and Assumptions</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The significant areas of estimation include determining research and development accruals and the inputs in determining the fair value of equity-based awards and warrants issued. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_841_eus-gaap--ConcentrationRiskCreditRisk_z3OxCGINEzuc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Risks and Uncertainties</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates in an industry that is subject to intense competition, government regulation and rapid technological change. Operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory, and other risks, including the potential risk of business failure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The extent of the impact and effects of the coronavirus (COVID-19) on the operation and financial performance of the Company’s business will depend on future developments, including the duration and spread of the outbreak and varying virus mutations, related travel advisories and restrictions, the recovery time of disrupted research services, the consequential staff shortages, and research and development delays, or the uncertainty with respect to the accessibility of additional liquidity or capital markets, all of which are highly uncertain and cannot be predicted. If the Company’s operations are impacted by the outbreak for an extended period, the Company’s results of operations or liquidity may be materially adversely affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3652000 usd
CY2022Q3 LTRN Upfront Payments For Contractor Fees Academic Research Studies And Services And Subscriptions
UpfrontPaymentsForContractorFeesAcademicResearchStudiesAndServicesAndSubscriptions
2304000 usd
CY2022Q3 LTRN Intellectual Property Related Licensing And Other Fees
IntellectualPropertyRelatedLicensingAndOtherFees
281000 usd
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
762000 usd
CY2022Q3 us-gaap Interest Receivable
InterestReceivable
305000 usd
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.13
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2022Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10857040 shares
CY2022Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10857040 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11088835 shares
CY2022Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
30000 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
108000 usd
CY2021Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
38000 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
67000 usd
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11088835 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
177998 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
273777 shares
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
82918 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
185943 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
92023 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
152058 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
52890 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
92023 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
204948 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
40052 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
53403 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
93455 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1432 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
92023 usd
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
92023 usd
LTRN Lease Expiration Date
LeaseExpirationDate
The leases expire in April 2023
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M29D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M29D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0465 pure
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0465 pure
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
61000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
300000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
890826 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.54
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
155000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.79
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
32538 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
12335 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
13.79
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1000953 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.52
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
22238 shares
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
4669099 usd
CY2022Q3 LTRN Available For Sale Securities Debt Maturities Rolling Year One Through Two Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearOneThroughTwoFairValue
6700963 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
1730113 usd
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
13100175 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
4622180 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
258865 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
13201330 usd
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
786237 usd
CY2022Q3 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
900000 usd
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
2570000 usd
CY2022Q3 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
27000 usd
us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
76000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
18568725 usd
CY2020Q2 us-gaap Proceeds From Loan Originations1
ProceedsFromLoanOriginations1
108500 usd
CY2020Q2 us-gaap Debt Instrument Description
DebtInstrumentDescription
the PPP Loan bore interest at a fixed rate of one percent (1.0%) per annum. Payments of principal and interest were deferred for the first six months following the Origination Date, and the PPP Loan provided that it would mature two years after the Origination Date. The guidance under the Paycheck Protection Program was later updated so that payments of principal and interest were extended past the current fiscal year and maturity was extended past two years.
CY2020Q2 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.010 pure
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1178951 shares

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