$MTEM
Molecular Templates, Inc.

2020 Q4 Form 10-K Financial Statement

#000156459021014250 Filed on March 19, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 2019 Q4
Revenue $3.500M $18.85M $6.200M
YoY Change -43.55% -15.36% 32.48%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.120M $26.72M $6.030M
YoY Change 18.08% 33.07% 53.83%
% of Gross Profit
Research & Development $22.30M $92.97M $16.57M
YoY Change 34.58% 84.02% 119.18%
% of Gross Profit
Depreciation & Amortization $1.390M $4.100M $550.0K
YoY Change 152.73% 246.87% 37.5%
% of Gross Profit
Operating Expenses $29.41M $119.7M $22.60M
YoY Change 30.13% 29.09% 96.86%
Operating Profit -$100.8M
YoY Change 43.14%
Interest Expense -$370.0K $1.028M $520.0K
YoY Change -171.15% -55.75% 225.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$28.45M -$104.9M -$15.88M
YoY Change 79.16% 51.12% 139.52%
Income Tax $0.00 $5.000K
% Of Pretax Income
Net Earnings -$28.45M -$104.9M -$15.88M
YoY Change 79.16% 51.13% 139.52%
Net Earnings / Revenue -812.86% -556.58% -256.13%
Basic Earnings Per Share
Diluted Earnings Per Share -$569.1K -$2.204M -$391.3K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $93.89M $93.90M $125.1M
YoY Change -24.94% -24.94% 27.7%
Cash & Equivalents $25.22M $25.20M $85.45M
Short-Term Investments $68.67M $68.70M $39.63M
Other Short-Term Assets $1.125M $7.200M $489.0K
YoY Change 130.06% -1.37% 414.74%
Inventory
Prepaid Expenses $4.140M $2.318M
Receivables $200.0K $200.0K $400.0K
Other Receivables $0.00 $0.00 $7.100M
Total Short-Term Assets $99.38M $101.3M $139.9M
YoY Change -28.96% -27.59% 33.41%
LONG-TERM ASSETS
Property, Plant & Equipment $22.25M $33.40M $18.16M
YoY Change 22.56% 18.86% 165.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $1.500M
YoY Change -100.0% -100.0%
Other Assets $5.195M $4.000M $4.676M
YoY Change 11.1% -14.89% 156.78%
Total Long-Term Assets $40.49M $38.60M $34.30M
YoY Change 18.05% 12.54% -2.81%
TOTAL ASSETS
Total Short-Term Assets $99.38M $101.3M $139.9M
Total Long-Term Assets $40.49M $38.60M $34.30M
Total Assets $139.9M $139.9M $174.2M
YoY Change -19.7% -19.69% 24.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.350M $2.400M $1.465M
YoY Change 60.41% 60.0% 87.82%
Accrued Expenses $12.58M $14.80M $14.54M
YoY Change -13.54% -8.64% 171.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $800.0K
YoY Change -100.0%
Total Short-Term Liabilities $37.55M $37.60M $35.80M
YoY Change 4.89% 5.03% 10.13%
LONG-TERM LIABILITIES
Long-Term Debt $14.93M $14.90M $2.940M
YoY Change 407.69% 413.79% -9.65%
Other Long-Term Liabilities $1.490M $28.10M $1.366M
YoY Change 9.08% -13.27% 66.79%
Total Long-Term Liabilities $16.42M $43.00M $4.306M
YoY Change 281.24% 21.81% 5.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $37.55M $37.60M $35.80M
Total Long-Term Liabilities $16.42M $43.00M $4.306M
Total Liabilities $80.54M $80.50M $71.17M
YoY Change 13.16% 13.06% 81.33%
SHAREHOLDERS EQUITY
Retained Earnings -$269.0M -$164.1M
YoY Change 63.92% 73.3%
Common Stock $328.4M $267.1M
YoY Change 22.92% 36.57%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.34M $59.30M $103.0M
YoY Change
Total Liabilities & Shareholders Equity $139.9M $139.9M $174.2M
YoY Change -19.7% -19.69% 24.29%

Cashflow Statement

Concept 2020 Q4 2020 2019 Q4
OPERATING ACTIVITIES
Net Income -$28.45M -$104.9M -$15.88M
YoY Change 79.16% 51.13% 139.52%
Depreciation, Depletion And Amortization $1.390M $4.100M $550.0K
YoY Change 152.73% 246.87% 37.5%
Cash From Operating Activities -$21.51M -$83.80M $14.03M
YoY Change -253.31% 231.96% -27.64%
INVESTING ACTIVITIES
Capital Expenditures -$2.880M -$7.390M -$3.320M
YoY Change -13.25% -176.59% 1006.67%
Acquisitions
YoY Change
Other Investing Activities $16.09M -$27.27M -$4.900M
YoY Change -428.37% -9.34% -52.05%
Cash From Investing Activities $13.21M -$34.66M -$8.220M
YoY Change -260.71% -12.74% -21.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $48.37M
YoY Change -9.5%
Debt Paid & Issued, Net $5.176M
YoY Change
Cash From Financing Activities 110.0K 58.90M 64.38M
YoY Change -99.83% -10.35% 58427.27%
NET CHANGE
Cash From Operating Activities -21.51M -83.80M 14.03M
Cash From Investing Activities 13.21M -34.66M -8.220M
Cash From Financing Activities 110.0K 58.90M 64.38M
Net Change In Cash -8.190M -59.57M 70.19M
YoY Change -111.67% -8259.59% 682.5%
FREE CASH FLOW
Cash From Operating Activities -$21.51M -$83.80M $14.03M
Capital Expenditures -$2.880M -$7.390M -$3.320M
Free Cash Flow -$18.63M -$76.41M $17.35M
YoY Change -207.38% 118.98% -11.88%

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AccruedNonClinicalResearchAndManufacturingOperationsCurrent
4321000
CY2019Q4 mtem Accrued Non Clinical Research And Manufacturing Operations Current
AccruedNonClinicalResearchAndManufacturingOperationsCurrent
5774000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4908000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2849000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
684000
CY2019 mtem Fixed Asset Additions In Accounts Payable And Accrued Expenses
FixedAssetAdditionsInAccountsPayableAndAccruedExpenses
2686000
CY2020 mtem Fixed Asset Additions In Accounts Payable And Accrued Expenses
FixedAssetAdditionsInAccountsPayableAndAccruedExpenses
980000
CY2020 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:2.68%;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-bottom:0pt;margin-top:6pt;text-indent:4.86%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain amounts in the prior year’s presentation have been reclassified to conform to the current presentation. The condensed consolidated balance sheet at December 31, 2019 included herein was derived from the audited financial statements at that date, but includes a reclassification of $8.8 million from Deferred revenue, current to Deferred revenue, current, related party and $0.4 million from Deferred revenue, non-current to Deferred revenue, non-current, related party in order to conform to current period presentation. The condensed consolidated statements of cash flows for the year ended December 31, 2019, included herein includes a reclassification of $19.7 million from Deferred revenue to Deferred revenue, related party<span style="color:#000000;">.</span></p>
CY2019Q4 mtem Deferred Revenue Related Parties Current
DeferredRevenueRelatedPartiesCurrent
8800000
CY2019Q4 mtem Deferred Revenue Related Parties Noncurrent
DeferredRevenueRelatedPartiesNoncurrent
400000
CY2019 mtem Reclassification Of Deferred Revenue To Related Party Deferred Revenue
ReclassificationOfDeferredRevenueToRelatedPartyDeferredRevenue
19700000
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;margin-bottom:0pt;margin-left:2.72%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Accounting Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.86%;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 accounting principles generally accepted in the United States of America as defined by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. </p>
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:2.72%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk and Other Risks and Uncertainties </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.86%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of risk consist principally of cash and cash equivalents, investments, long term debt and accounts receivable.</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.86%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s cash and cash equivalents are with two major financial institutions in the United States. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.86%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company performs an ongoing credit evaluation of its strategic partners’ financial conditions and generally does not require collateral to secure accounts receivable from its strategic partners. The Company’s exposure to credit risk associated with non-payment will be affected principally by conditions or occurrences within Millennium Pharmaceuticals, Inc., a wholly-owned subsidiary of Takeda Pharmaceutical Company Ltd. (“Takeda”) and <span style="Background-color:#FFFFFF;color:#000000;">Vertex Pharmaceuticals Incorporated (“Vertex”)</span>. Takeda accounted for approximately 35% and 88% of total revenues for the years ended December 31, 2020 and December 31, 2019, respectively. Vertex accounted for approximately 48% and 0% of total revenues for the years ended December 31, 2020 and December 31, 2019, respectively.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.86%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In <span style="color:#000000;">July 2020, the Company became aware of one potentially non-conforming batch of a single Company product fill. In February 2021, the batch was deemed non-conforming due to visible particulates identified in the release samples. </span><span style="Background-color:#FFFFFF;color:#000000;">This could result in a reversal of revenue in future periods as the Company recognizes collaboration revenue over time by measuring progress toward completion to satisfy the performance obligation.</span><span style="color:#000000;"> The Company does not believe this non-conforming batch will result in an increased timeline for its ongoing projects nor does it affect any other batches, production, or manufacturing. The Company expects to be able to meet the supply needs for all of its active clinical trials. </span></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.86%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.86%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Drug or biologic candidates developed by the Company may require approvals or clearances from the U.S. Food and Drug Administration (“FDA”) or international regulatory agencies prior<span style="color:#000000;"> to commercial sales. There can be no assurance that the Company’s drug or biologic candidates will receive any of the required approvals or clearances. If the Company were to be denied approval or clearance or any such approval or clearance were to be delayed, it would have a material adverse impact on the Company.</span></p>
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4180000
CY2019Q1 us-gaap Assets
Assets
4180000
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
976000
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3729000
CY2019Q1 us-gaap Liabilities
Liabilities
4705000
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020 mtem Research And Development Revenues From Collaboration Agreements
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15635000
CY2019 mtem Research And Development Revenues From Collaboration Agreements
ResearchAndDevelopmentRevenuesFromCollaborationAgreements
19499000
CY2020Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
68667000
CY2020Q4 us-gaap Assets Fair Value Disclosure
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CY2019Q4 mtem Accrued General And Administrative Current
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4521000
CY2019Q4 us-gaap Assets Fair Value Disclosure
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125505000
CY2019Q4 us-gaap Marketable Securities Current
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39633000
CY2019Q4 us-gaap Marketable Securities Noncurrent
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1510000
CY2019Q4 us-gaap Assets Fair Value Disclosure
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125505000
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92443000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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92460000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
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0
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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0
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2020Q4 us-gaap Available For Sale Securities Debt Securities
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CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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CY2019Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
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1510000
CY2019Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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1510000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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125487000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
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125505000
CY2020 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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0
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
1300000
CY2020Q4 us-gaap Property Plant And Equipment Gross
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29639000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
21451000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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7385000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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3293000
CY2020Q4 us-gaap Property Plant And Equipment Net
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22254000
CY2019Q4 us-gaap Property Plant And Equipment Net
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18158000
CY2020 us-gaap Depreciation
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4100000
CY2019 us-gaap Depreciation
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CY2020Q4 mtem Accrued General And Administrative Current
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1577000
CY2019 us-gaap Asset Retirement Obligation Accretion Expense
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72000
CY2020Q4 us-gaap Other Accrued Liabilities Current
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26000
CY2019Q4 us-gaap Other Accrued Liabilities Current
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CY2020Q4 us-gaap Accrued Liabilities Current
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12575000
CY2019Q4 us-gaap Accrued Liabilities Current
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14544000
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344000
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CY2019 us-gaap Asset Retirement Obligation Liabilities Incurred
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CY2020 us-gaap Asset Retirement Obligation Accretion Expense
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CY2019Q4 us-gaap Finance Lease Liability Current
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CY2019Q4 us-gaap Long Term Debt Current
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800000
CY2020Q4 us-gaap Operating Lease Liability Current
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2210000
CY2019Q4 us-gaap Operating Lease Liability Current
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1683000
CY2020Q4 us-gaap Other Liabilities Current
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2211000
CY2019Q4 us-gaap Other Liabilities Current
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2501000
CY2020Q4 us-gaap Long Term Debt
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14900000
CY2019Q4 us-gaap Long Term Debt
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3700000
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1365000
CY2020Q4 us-gaap Asset Retirement Obligation
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1490000
CY2019Q4 us-gaap Asset Retirement Obligation
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1365000
CY2020 us-gaap Operating Lease Cost
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2520000
CY2019 us-gaap Operating Lease Cost
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2175000
CY2020 us-gaap Variable Lease Cost
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491000
CY2019 us-gaap Variable Lease Cost
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456000
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
3011000
CY2019 us-gaap Operating Lease Expense
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2631000
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8000
CY2019 us-gaap Finance Lease Right Of Use Asset Amortization
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8000
CY2020 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000
CY2019 us-gaap Finance Lease Interest Expense
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2000
CY2020 mtem Finance Lease Expense
FinanceLeaseExpense
9000
CY2019 mtem Finance Lease Expense
FinanceLeaseExpense
10000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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2210000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
12213000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
14423000
CY2020Q4 mtem Finance Lease Right Of Use Asset Gross
FinanceLeaseRightOfUseAssetGross
77000
CY2020Q4 mtem Finance Lease Right Of Use Asset Accumulated Depreciation
FinanceLeaseRightOfUseAssetAccumulatedDepreciation
49000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
28000
CY2020Q4 us-gaap Finance Lease Liability Current
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1000
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0704
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0672
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0000
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0688
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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2735000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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7501000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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3142000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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1000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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2689000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
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0
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2218000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
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CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Five
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4244000
CY2020Q4 us-gaap Finance Lease Liability Payments Due After Year Five
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17801000
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3378000
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
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0
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
14423000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1000
CY2020 us-gaap Operating Lease Payments
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2453000
CY2019 us-gaap Operating Lease Payments
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1278000
CY2020 us-gaap Finance Lease Interest Payment On Liability
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1000
CY2019 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3000
CY2020 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
18000
CY2019 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
31000
CY2020Q4 mtem Upfront Fees Unamortized Balance Included In Prepaid Asset
UpfrontFeesUnamortizedBalanceIncludedInPrepaidAsset
1100000
CY2020Q4 us-gaap Contractual Obligation
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49000000.0
CY2020 mtem Development Costs Sharing Percentage Exercised
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0.50
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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2023600
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1500000
CY2020Q3 us-gaap Stock Issued During Period Value New Issues
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CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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30000000.0
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2019 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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9.99
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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9.13
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13790000
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CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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13790000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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6.66
CY2020Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2020 mtem Employee Service Share Based Compensation Tax Benefit Realized From Exercise Of Stock Options1
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CY2020 us-gaap Allocated Share Based Compensation Expense
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CY2019 us-gaap Allocated Share Based Compensation Expense
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CY2019 us-gaap Income Tax Expense Benefit
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CY2019 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2019 mtem Income Tax Reconciliation Permanent Differences
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34000
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524000
CY2019 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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4112000
CY2020 us-gaap Income Tax Reconciliation Tax Credits Research
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4043000
CY2019 us-gaap Income Tax Reconciliation Tax Credits Research
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1677000
CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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26484000
CY2019 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
12756000
CY2020 mtem Income Tax Reconciliation Expiring State Carryovers And Other
IncomeTaxReconciliationExpiringStateCarryoversAndOther
13000
CY2019 mtem Income Tax Reconciliation Expiring State Carryovers And Other
IncomeTaxReconciliationExpiringStateCarryoversAndOther
-119000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
42029000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
26554000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
9066000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
4147000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3260000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1571000
CY2020Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
5195000
CY2019Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
1956000
CY2020Q4 mtem Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
3045000
CY2019Q4 mtem Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
2835000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1301000
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
736000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
63896000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
37799000
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1677000
CY2019Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1340000
CY2020Q4 mtem Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
2344000
CY2019Q4 mtem Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
2112000
CY2019Q4 mtem Deferred Tax Liabilities Research And Development Intangible Assets
DeferredTaxLiabilitiesResearchAndDevelopmentIntangibleAssets
956000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
4021000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
59875000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
33391000
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
26500000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q4 mtem Gain Loss On Assets Held For Sale
GainLossOnAssetsHeldForSale
2000000.0

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