2023 Form 10-K Financial Statement

#000095017024038094 Filed on March 28, 2024

View on sec.gov

Income Statement

Concept 2023 2022
Revenue $3.094M $2.073M
YoY Change 49.25% 1339.58%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $37.49M $28.74M
YoY Change 30.42% 56.97%
% of Gross Profit
Research & Development $65.87M $80.00M
YoY Change -17.66% 67.13%
% of Gross Profit
Depreciation & Amortization $1.568M $1.600M
YoY Change -2.0% 14.29%
% of Gross Profit
Operating Expenses $103.4M $104.8M
YoY Change -1.42% 58.42%
Operating Profit -$100.3M -$102.8M
YoY Change -2.44% 55.63%
Interest Expense $2.810M $222.0K
YoY Change 1165.77% -75.6%
% of Operating Profit
Other Income/Expense, Net $23.00K $65.00K
YoY Change -64.62% -102.89%
Pretax Income -$97.43M -$102.7M
YoY Change -5.13% 50.41%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$97.43M -$102.7M
YoY Change -5.13% 50.41%
Net Earnings / Revenue -3148.93% -4954.22%
Basic Earnings Per Share -$1.80 -$2.14
Diluted Earnings Per Share -$1.80 -$2.14
COMMON SHARES
Basic Shares Outstanding 54.01M 47.88M
Diluted Shares Outstanding 54.01M 47.88M

Balance Sheet

Concept 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $73.43M $124.7M
YoY Change -41.11% -44.67%
Cash & Equivalents $68.44M $70.62M
Short-Term Investments $4.986M $54.06M
Other Short-Term Assets $9.469M $11.11M
YoY Change -14.8% 223.27%
Inventory
Prepaid Expenses
Receivables $6.131M $618.0K
Other Receivables $855.0K $1.180M
Total Short-Term Assets $89.88M $137.6M
YoY Change -34.67% -39.99%
LONG-TERM ASSETS
Property, Plant & Equipment $114.0M $7.863M
YoY Change 1350.43% 118.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $435.0K $545.0K
YoY Change -20.18% 23.3%
Total Long-Term Assets $114.5M $8.408M
YoY Change 1261.58% 107.76%
TOTAL ASSETS
Total Short-Term Assets $89.88M $137.6M
Total Long-Term Assets $114.5M $8.408M
Total Assets $204.4M $146.0M
YoY Change 39.98% -37.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.620M $3.107M
YoY Change -47.86% 47.32%
Accrued Expenses $18.59M $14.94M
YoY Change 24.44% 66.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.000M $3.333M
YoY Change 20.01%
Total Short-Term Liabilities $26.81M $21.96M
YoY Change 22.05% 83.29%
LONG-TERM LIABILITIES
Long-Term Debt $14.89M $16.60M
YoY Change -10.35% -16.44%
Other Long-Term Liabilities $104.7M $1.460M
YoY Change 7068.42% 71.16%
Total Long-Term Liabilities $119.5M $18.06M
YoY Change 561.82% -12.83%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.81M $21.96M
Total Long-Term Liabilities $119.5M $18.06M
Total Liabilities $146.4M $40.03M
YoY Change 265.63% 22.39%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $58.02M $106.0M
YoY Change
Total Liabilities & Shareholders Equity $204.4M $146.0M
YoY Change 39.98% -37.43%

Cashflow Statement

Concept 2023 2022
OPERATING ACTIVITIES
Net Income -$97.43M -$102.7M
YoY Change -5.13% 50.41%
Depreciation, Depletion And Amortization $1.568M $1.600M
YoY Change -2.0% 14.29%
Cash From Operating Activities -$91.51M -$98.52M
YoY Change -7.11% 71.01%
INVESTING ACTIVITIES
Capital Expenditures $2.869M $1.380M
YoY Change 107.9% -5.93%
Acquisitions
YoY Change
Other Investing Activities $50.38M -$16.68M
YoY Change -402.06% -57.16%
Cash From Investing Activities $47.52M -$18.06M
YoY Change -363.1% -55.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $40.49M
YoY Change
Debt Paid & Issued, Net $1.000M
YoY Change
Cash From Financing Activities 41.82M 708.0K
YoY Change 5807.2% -99.73%
NET CHANGE
Cash From Operating Activities -91.51M -98.52M
Cash From Investing Activities 47.52M -18.06M
Cash From Financing Activities 41.82M 708.0K
Net Change In Cash -2.172M -115.9M
YoY Change -98.13% -170.85%
FREE CASH FLOW
Cash From Operating Activities -$91.51M -$98.52M
Capital Expenditures $2.869M $1.380M
Free Cash Flow -$94.38M -$99.90M
YoY Change -5.52% 69.1%

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NetCashProvidedByUsedInFinancingActivities
41823000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
708000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2172000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-115867000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
70956000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
186823000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68784000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
70956000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
68443000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
70615000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
341000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
341000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
68784000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
70956000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
1723000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
1263000
CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
438000
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
13000
CY2023Q4 omga Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
73400000
CY2023 omga Recurring Losses
RecurringLosses
97400000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-91500000
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Reclassification</span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The Company reclassified the related party expenses in the prior year to research and development and general and administrative expenses in the consolidated statements of operations and comprehensive loss to conform to the current year's presentation.</span></p>
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Use of estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses, and the disclosure of contingent assets and liabilities as of and during the reporting period. The Company bases its estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances.</span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the selection of useful lives of property and equipment, the fair value of the success fee obligation, the incremental borrowing rate used in the calculation of lease liabilities, research and development expenses, certain judgments regarding revenue recognition and stock-based compensation. Actual results could differ from these estimates. Changes in estimates are reflected in reported results in the period in which they become known.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Concentrations of credit risk</span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Financial instruments that are potentially subject to significant concentration of credit risk consist primarily of cash, cash equivalents, and marketable securities. The Company attempts to minimize the risk related to marketable securities by working with highly rated financial institutions that invest in a broad and diverse range of financial instruments as defined the Company. The Company has established guidelines relative to credit ratings and maturities intended to safeguard principal balances and maintain liquidity. The Company maintains its funds in accordance with its investment policy, which defines allowable investments, specifies credit quality standards and is designed to limit credit exposure to any single issuer.</span></p>
CY2023 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;">Guarantees and indemnifications</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Arial;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:5.733%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">As permitted under Delaware law, the Company indemnifies its officers, directors, consultants, and employees for certain events or occurrences that happen by reason of the relationship with, or position held at, the Company. Through December 31, 2023 and 2022, the Company had </span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">t experienced any losses related to these indemnification obligations, and </span><span style="font-size:10pt;font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> claims were outstanding. The Company does not expect significant claims related to these indemnification obligations and, consequently, concluded that the fair value of these obligations is negligible, and no related liabilities were established.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p>
CY2023 omga Indemnification Obligations Losses
IndemnificationObligationsLosses
0
CY2022 omga Indemnification Obligations Losses
IndemnificationObligationsLosses
0
CY2023 omga Indemnification Obligations Claims Outstanding
IndemnificationObligationsClaimsOutstanding
0
CY2022 omga Indemnification Obligations Claims Outstanding
IndemnificationObligationsClaimsOutstanding
0
CY2023Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2022Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
0
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2023 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0
CY2023 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0
CY2023 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2023Q4 omga Prepaid Clinical Expenses
PrepaidClinicalExpenses
5168000
CY2022Q4 omga Prepaid Clinical Expenses
PrepaidClinicalExpenses
5232000
CY2023Q4 omga Prepaid Research And Development
PrepaidResearchAndDevelopment
1609000
CY2022Q4 omga Prepaid Research And Development
PrepaidResearchAndDevelopment
2072000
CY2023Q4 omga Prepaid Facilities
PrepaidFacilities
1242000
CY2022Q4 omga Prepaid Facilities
PrepaidFacilities
1857000
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
855000
CY2022Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1180000
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
716000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1020000
CY2023Q4 omga Prepaid Software
PrepaidSoftware
303000
CY2022Q4 omga Prepaid Software
PrepaidSoftware
157000
CY2023Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
431000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
776000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10324000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
12294000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11373000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9609000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6062000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5414000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5311000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4195000
CY2023 us-gaap Depreciation
Depreciation
1600000
CY2022 us-gaap Depreciation
Depreciation
1600000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4482000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4368000
CY2023Q4 omga Research Costs
ResearchCosts
1395000
CY2022Q4 omga Research Costs
ResearchCosts
3876000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
716000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
743000
CY2023Q4 omga Accrued Manufacturing Costs Current
AccruedManufacturingCostsCurrent
547000
CY2022Q4 omga Accrued Manufacturing Costs Current
AccruedManufacturingCostsCurrent
4303000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
147000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
122000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
627000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
429000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7914000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13841000
CY2023Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
4000000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
14900000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
19000000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
20000000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
115000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
64000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
18885000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
19936000
CY2023 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1748000
CY2022 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1229000
CY2023 omga Amortization Of Debt Issuance Costs And Debt Discount
AmortizationOfDebtIssuanceCostsAndDebtDiscount
53000
CY2022 omga Amortization Of Debt Issuance Costs And Debt Discount
AmortizationOfDebtIssuanceCostsAndDebtDiscount
67000
CY2023 us-gaap Interest Expense Debt
InterestExpenseDebt
1801000
CY2022 us-gaap Interest Expense Debt
InterestExpenseDebt
1296000
CY2023 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
147000
CY2022 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
121000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
4000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
4000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
7000000
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
19000000
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
15388000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
79839000
CY2021Q4 omga Number Of Phases
NumberOfPhases
2
CY2023Q2 omga Rent Per Square Foot
RentPerSquareFoot
1
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
108700000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
109500000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11300000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
98200000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
11624000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
3820000
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
2819000
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
1357000
CY2023 us-gaap Lease Cost
LeaseCost
14443000
CY2022 us-gaap Lease Cost
LeaseCost
5177000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P14Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.089
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2023 omga Schedule Of Supplemental Cash Flow Information Relating To Leases
ScheduleOfSupplementalCashFlowInformationRelatingToLeases
<p style="text-indent:5.667%;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;">Supplemental cash flow information relating to the Company's leases for the years ended December 31, 2023 and December 31, 2022 were as follows (in thousands):</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Arial;min-width:fit-content;"> </span></p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:67.16%;"></td> <td style="width:1.5%;"></td> <td style="width:1%;"></td> <td style="width:12.92%;"></td> <td style="width:1%;"></td> <td style="width:1.5%;"></td> <td style="width:1%;"></td> <td style="width:12.92%;"></td> <td style="width:1%;"></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="6" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">Year Ended</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:8pt;background-color:#ffffff;word-break:break-word;white-space:pre-wrap;"> <td style="vertical-align:bottom;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">December 31, 2023</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="vertical-align:bottom;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td colspan="2" style="vertical-align:bottom;border-bottom:0.5pt solid #000000;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-family:Arial;min-width:fit-content;">December 31, 2022</span></p></td> <td style="vertical-align:bottom;border-bottom:0.5pt solid #ffffff03;text-align:left;"><p style="font-size:8pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:center;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#cff0fc;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Cash paid for amounts included in the measurement of lease liabilities</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">8,542</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">2,637</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10pt;background-color:#ffffff;word-break:break-word;"> <td style="white-space:pre-wrap;vertical-align:top;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-family:Arial;min-width:fit-content;">Operating lease assets obtained in exchange for lease liabilities</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">110,424</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-family:Arial;min-width:fit-content;"> </span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;font-family:Arial;min-width:fit-content;">$</span></p></td> <td style="white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:right;"><span style="font-family:Arial;color:#000000;white-space:pre-wrap;min-width:fit-content;">4,393</span></p></td> <td style="white-space:nowrap;vertical-align:bottom;"><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-family:Arial;min-width:fit-content;"> </span></p></td> </tr> </table>
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
8542000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
2637000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
110424000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4393000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
11781000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11887000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
12213000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12549000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
12895000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
139504000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
200829000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
91286000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
109543000
CY2023 omga License Maintenances Fees
LicenseMaintenancesFees
200000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8793000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7753000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.7465
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.7706
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.7609
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.7762
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.0416
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.0269
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y29D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M9D
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-97428000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-102701000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
54010996
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
54010996
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47880819
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47880819
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.8
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.8
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.14
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.14
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.066
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.071
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.047
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Research And Development
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseResearchAndDevelopment
0.043
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.009
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.005
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.314
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.32
CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.001
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
50762000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
40157000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
16309000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
11013000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
1154000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
1098000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3329000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
1726000
CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
120000
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
136000
CY2023Q4 omga Irc One Hundred And Seventy Four Capitalization
IrcOneHundredAndSeventyFourCapitalization
32505000
CY2022Q4 omga Irc One Hundred And Seventy Four Capitalization
IrcOneHundredAndSeventyFourCapitalization
20024000
CY2023Q4 omga Asc Eight Hundred And Fourty Two Lease Liability
AscEightHundredAndFourtyTwoLeaseLiability
30198000
CY2022Q4 omga Asc Eight Hundred And Fourty Two Lease Liability
AscEightHundredAndFourtyTwoLeaseLiability
722000
CY2022Q4 omga Deferred Tax Assets Unrealized Gain Loss
DeferredTaxAssetsUnrealizedGainLoss
325000
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
134377000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
75201000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
104630000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
74005000
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
29747000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1196000
CY2023Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
12000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
194000
CY2023Q4 omga Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
-29706000
CY2022Q4 omga Deferred Tax Liabilities Right Of Use Assets
DeferredTaxLiabilitiesRightOfUseAssets
-1002000
CY2023Q4 omga Deferred Tax Liabilities Unrealized Gain Loss
DeferredTaxLiabilitiesUnrealizedGainLoss
29000
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
29747000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
1196000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
30600000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
187400000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
180400000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
187400000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration
181900000
CY2023Q3 omga Number Of Shared Space Arrangements
NumberOfSharedSpaceArrangements
3
CY2023 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
share one-third of Sail Bio's 69,867 square feet of leased space at 20 Acorn Park Drive, Cambridge, Massachusetts
omga Net Book Value Of Assets
NetBookValueOfAssets
400000
us-gaap Gains Losses On Sales Of Assets
GainsLossesOnSalesOfAssets
200000

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