$OLMA
Olema Pharmaceuticals, Inc.

2022 Q4 Form 10-Q Financial Statement

#000155837022016903 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.635M $5.595M
YoY Change -2.54% 6.8%
% of Gross Profit
Research & Development $21.58M $17.63M
YoY Change 35.11% 40.76%
% of Gross Profit
Depreciation & Amortization $97.00K $91.00K
YoY Change 32.88% 82.0%
% of Gross Profit
Operating Expenses $27.22M $23.22M
YoY Change 25.1% 30.74%
Operating Profit -$23.22M
YoY Change 30.74%
Interest Expense $973.0K $622.0K
YoY Change 792.66% 492.38%
% of Operating Profit
Other Income/Expense, Net $67.00K $502.0K
YoY Change 570.0% 924.49%
Pretax Income -$26.18M -$22.72M
YoY Change 20.99% 28.27%
Income Tax
% Of Pretax Income
Net Earnings -$26.18M -$22.72M
YoY Change 20.99% 28.27%
Net Earnings / Revenue
Basic Earnings Per Share -$0.57
Diluted Earnings Per Share -$0.65 -$0.57
COMMON SHARES
Basic Shares Outstanding 40.46M 40.04M
Diluted Shares Outstanding 40.04M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $204.4M $222.6M
YoY Change -28.84% -27.24%
Cash & Equivalents $23.70M $26.80M
Short-Term Investments $180.7M $195.8M
Other Short-Term Assets $4.159M $2.458M
YoY Change 21.08% 5.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $208.9M $225.1M
YoY Change -28.14% -27.0%
LONG-TERM ASSETS
Property, Plant & Equipment $1.480M $1.404M
YoY Change 0.41% 44.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.771M $2.771M
YoY Change 413.15% 413.15%
Total Long-Term Assets $6.746M $6.939M
YoY Change 28.25% 358.02%
TOTAL ASSETS
Total Short-Term Assets $208.9M $225.1M
Total Long-Term Assets $6.746M $6.939M
Total Assets $215.6M $232.0M
YoY Change -27.13% -25.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $374.0K $14.00K
YoY Change 1526.09% -95.42%
Accrued Expenses $16.02M $12.28M
YoY Change 87.87% 52.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.55M $12.55M
YoY Change 83.49% 41.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.550M $1.746M
YoY Change -34.27%
Total Long-Term Liabilities $1.550M $1.746M
YoY Change -34.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.55M $12.55M
Total Long-Term Liabilities $1.550M $1.746M
Total Liabilities $18.10M $14.30M
YoY Change 59.08% 60.63%
SHAREHOLDERS EQUITY
Retained Earnings -$209.0M -$182.8M
YoY Change 100.57% 121.43%
Common Stock $3.000K $3.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $197.5M $217.7M
YoY Change
Total Liabilities & Shareholders Equity $215.6M $232.0M
YoY Change -27.13% -25.11%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$26.18M -$22.72M
YoY Change 20.99% 28.27%
Depreciation, Depletion And Amortization $97.00K $91.00K
YoY Change 32.88% 82.0%
Cash From Operating Activities -$19.71M -$17.99M
YoY Change 5.96% 48.72%
INVESTING ACTIVITIES
Capital Expenditures $173.0K -$139.0K
YoY Change -124.75% 44.79%
Acquisitions
YoY Change
Other Investing Activities $16.51M $20.30M
YoY Change 146.44% -260.02%
Cash From Investing Activities $16.34M $20.16M
YoY Change 172.27% -257.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 273.0K 106.0K
YoY Change -66.63% 85.96%
NET CHANGE
Cash From Operating Activities -19.71M -17.99M
Cash From Investing Activities 16.34M 20.16M
Cash From Financing Activities 273.0K 106.0K
Net Change In Cash -3.102M 2.278M
YoY Change -73.68% -109.18%
FREE CASH FLOW
Cash From Operating Activities -$19.71M -$17.99M
Capital Expenditures $173.0K -$139.0K
Free Cash Flow -$19.88M -$17.85M
YoY Change 11.06% 48.75%

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CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
217699000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
314084000
CY2021Q3 olma Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodValue
280000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
57000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4125000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
32000
CY2021Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
29000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-17713000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
300894000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
338137000
olma Share Based Compensation Arrangement By Share Based Payment Award Options Vested In Period Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriodValue
341000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
187000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
386000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11140000
us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
146000
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
15000
us-gaap Net Income Loss
NetIncomeLoss
-49458000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
300894000
us-gaap Profit Loss
ProfitLoss
-78608000
us-gaap Profit Loss
ProfitLoss
-49458000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
260000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
90000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
975000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
216000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
338549000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-220000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26804000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25597000
us-gaap Share Based Compensation
ShareBasedCompensation
13968000
us-gaap Share Based Compensation
ShareBasedCompensation
11286000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
573000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-61000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
12992000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-312952000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13812000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-527000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
3281000
us-gaap Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
5070000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-952000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-62354000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-32087000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
190000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
876000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
244500000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
186449000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
169167000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
467011000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
75143000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-281438000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
146000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
187000
olma Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
57000
olma Proceeds From Issuance Of Common Stock Under Employee Stock Purchase Plan
ProceedsFromIssuanceOfCommonStockUnderEmployeeStockPurchasePlan
386000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
203000
olma Reclassification Of Prepaid Expenses And Other Current Liabilities Into Other Assets
ReclassificationOfPrepaidExpensesAndOtherCurrentLiabilitiesIntoOtherAssets
1117000
olma Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
93000
olma Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
341000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
114000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
222600000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2.40
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1888000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1698000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1474000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
484000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><i style="font-weight:normal;">Use of Estimates</i></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt;">The accompanying condensed consolidated financial statements are prepared in accordance with US GAAP. The preparation of the condensed consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of expenses during the reporting period. Significant areas that require management’s estimates include accruals of research and development expenses, including accrual of research contract costs, stock-based compensation assumptions, including the fair value of common stock. On an ongoing basis, the Company evaluates its estimates and </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">judgments, which are based on historical and anticipated results and trends and on various other assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk and Other Risks and Uncertainties</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents, and marketable securities. The Company invests in a variety of financial instruments and, by its policy, limits these financial instruments to high credit quality securities issued by the U.S. government, U.S. government-sponsored agencies and highly rated banks and corporations, subject to certain concentration limits. The Company’s cash, cash equivalents, and marketable securities are held by financial institutions in the United States that management believes are of high credit quality. Amounts on deposit with individual banking institutions may at times exceed the limits insured by the Federal Deposit Insurance Corporation (“FDIC”); however, the Company has not experienced any losses on such deposits.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt;">The Company’s future results of operations involve a number of other risks and uncertainties. Factors that could affect the Company’s future operating results and cause actual results to vary materially from expectations </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">include, but are not limited to, uncertainty of results of clinical trials and reaching milestones, uncertainty of regulatory approval of the Company’s current and potential future product candidates, uncertainty of market acceptance of the Company’s product candidates, competition from substitute products and larger companies, securing and protecting proprietary technology, strategic relationships and dependence on key individuals or sole-source suppliers.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company’s product candidates require approvals from the U.S. Food and Drug Administration (“FDA”) and comparable foreign regulatory agencies prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company were denied approval, approval was delayed or the Company was unable to maintain approval for any product candidate, it could have a materially adverse impact on the Company.</p>
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
224000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1404000
CY2022Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
225295000
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2674000
CY2022Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
222621000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
1
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
100000
CY2022Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
6900000
CY2022Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2700000
CY2022Q3 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2022Q3 olma Prepaid Reimbursable Research And Development Costs From Collaboration Partner
PrepaidReimbursableResearchAndDevelopmentCostsFromCollaborationPartner
1082000
CY2022Q3 us-gaap Interest Receivable Current
InterestReceivableCurrent
457000
CY2021Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
130000
CY2022Q3 olma Prepaid Subscriptions And Licenses
PrepaidSubscriptionsAndLicenses
440000
CY2021Q4 olma Prepaid Subscriptions And Licenses
PrepaidSubscriptionsAndLicenses
291000
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
387000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1766000
CY2022Q3 olma Prepaid Research Contracts
PrepaidResearchContracts
14000
CY2021Q4 olma Prepaid Research Contracts
PrepaidResearchContracts
239000
CY2021Q4 olma Prepaid Clinical Trial Costs
PrepaidClinicalTrialCosts
916000
CY2022Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
78000
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
93000
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2458000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3435000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.57
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
108459
CY2021Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
172000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
22.32
CY2022Q3 olma Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
6286000
CY2021Q4 olma Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
2645000
CY2022Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
2933000
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
3752000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1569000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1011000
CY2022Q3 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
406000
CY2021Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
191000
CY2022Q3 olma Early Exercise Of Unvested Options
EarlyExerciseOfUnvestedOptions
113000
CY2021Q4 olma Early Exercise Of Unvested Options
EarlyExerciseOfUnvestedOptions
206000
CY2022Q3 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
53000
CY2021Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
88000
CY2022Q3 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
94000
CY2022Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
11454000
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
8065000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
1
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0189
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0063
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y10D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y11M23D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7955
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7707
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5768028
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.99
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M25D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11365000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3132140
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8329948
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.23
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y5M23D
CY2020Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Lower Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit
4.406
CY2020Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
4.824
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
109896
CY2022Q3 us-gaap Deferred Compensation Share Based Arrangements Liability Current
DeferredCompensationShareBasedArrangementsLiabilityCurrent
100000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
2.40
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
345230
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
353000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2913655
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
14.20
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P7Y10M9D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
271000
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5416293
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
11.17
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y9M21D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
25629
CY2020Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
600000
CY2020Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Upper Range Limit
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit
4.824
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
493185
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4275000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4157000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13968000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11286000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4275000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4157000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13968000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
493185
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2.40
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
147955
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
2.40
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
345230
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
2.40
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11286000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-22720000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-17713000
us-gaap Net Income Loss
NetIncomeLoss
-78608000
us-gaap Net Income Loss
NetIncomeLoss
-49458000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40036201
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39930418
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39450655
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.97
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.25
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8857317
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6124071
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
25629
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-22720000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-17713000
us-gaap Net Income Loss
NetIncomeLoss
-78608000
us-gaap Net Income Loss
NetIncomeLoss
-49458000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40036201
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39607745
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39930418
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39450655
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.97
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.25
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8857317
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6124071
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
25629
us-gaap Operating Lease Cost
OperatingLeaseCost
974000
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
64000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
184000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
20000
us-gaap Variable Lease Cost
VariableLeaseCost
40000
CY2022Q3 us-gaap Lease Cost
LeaseCost
411000
us-gaap Lease Cost
LeaseCost
1198000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
297000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
321000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3197000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
327000
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
64000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
184000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
20000
us-gaap Variable Lease Cost
VariableLeaseCost
40000
CY2022Q3 us-gaap Lease Cost
LeaseCost
411000
us-gaap Lease Cost
LeaseCost
1198000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
319000
us-gaap Operating Lease Payments
OperatingLeasePayments
951000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
367000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2830000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1084000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1746000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M28D
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
799000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
822000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
69000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3197000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
367000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2830000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
319000
us-gaap Operating Lease Payments
OperatingLeasePayments
951000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
297000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
321000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1186000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1084000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1746000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M28D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0870

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0001558370-22-016903.txt Edgar Link pending
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