$PIRS
Pieris Pharmaceuticals Inc

2024 Q1 Form 10-K Financial Statement

#000143774924010123 Filed on March 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $53.00K $1.299M $42.81M
YoY Change -97.26% -77.78% 65.28%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.138M $2.327M $16.85M
YoY Change 2.86% -41.61% 2.8%
% of Gross Profit
Research & Development $1.218M $4.454M $41.80M
YoY Change -90.93% -66.71% -21.1%
% of Gross Profit
Depreciation & Amortization -$196.0K $1.904M
YoY Change -134.09% -31.26%
% of Gross Profit
Operating Expenses $5.356M $6.781M $58.65M
YoY Change -69.3% -60.95% -15.45%
Operating Profit -$5.303M -$29.76M
YoY Change -65.81% -31.55%
Interest Expense $240.0K $455.0K $1.851M
YoY Change -32.77% 29.63% 156.73%
% of Operating Profit
Other Income/Expense, Net $171.0K -$538.0K $3.362M
YoY Change -400.0% 65.54% 158.02%
Pretax Income -$4.892M -$4.584M -$24.54M
YoY Change -62.89% -43.42% -26.25%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$4.900M -$4.584M -$24.54M
YoY Change -62.88% -43.42% -26.3%
Net Earnings / Revenue -9245.28% -352.89% -57.33%
Basic Earnings Per Share -$3.95 -$0.27
Diluted Earnings Per Share -$3.96 -$3.71 -$21.80
COMMON SHARES
Basic Shares Outstanding 98.94M 98.85M 90.06M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.08M $26.37M $26.37M
YoY Change -60.55% -55.44% -55.44%
Cash & Equivalents $19.08M $17.40M $17.40M
Short-Term Investments $0.00 $8.970M $8.970M
Other Short-Term Assets $3.168M $6.275M $6.275M
YoY Change -71.38% -25.7% -25.7%
Inventory
Prepaid Expenses
Receivables $1.842M $572.0K $572.0K
Other Receivables $2.332M $5.467M $5.467M
Total Short-Term Assets $29.50M $38.68M $38.68M
YoY Change -51.25% -47.32% -47.32%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00
YoY Change -100.0% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL ASSETS
Total Short-Term Assets $29.50M $38.68M $38.68M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $29.50M $38.68M $38.68M
YoY Change -64.14% -59.49% -59.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.518M $3.372M $3.372M
YoY Change -73.98% -18.83% -18.83%
Accrued Expenses $5.680M $8.187M $8.187M
YoY Change -41.83% -26.39% -26.39%
Deferred Revenue $0.00
YoY Change -100.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.533M $11.92M $11.92M
YoY Change -82.43% -67.41% -67.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.533M $11.92M $11.92M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $7.533M $11.92M $11.92M
YoY Change -88.72% -82.35% -82.35%
SHAREHOLDERS EQUITY
Retained Earnings -$319.9M -$315.0M
YoY Change 5.37% 8.47%
Common Stock $1.000K $98.00K
YoY Change -98.65% 32.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $21.96M $26.76M $26.76M
YoY Change
Total Liabilities & Shareholders Equity $29.50M $38.68M $38.68M
YoY Change -64.14% -59.49% -59.49%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$4.900M -$4.584M -$24.54M
YoY Change -62.88% -43.42% -26.3%
Depreciation, Depletion And Amortization -$196.0K $1.904M
YoY Change -134.09% -31.26%
Cash From Operating Activities -$6.996M -$19.67M -$53.82M
YoY Change -36.38% 52.08% -10.2%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$9.000K $171.0K
YoY Change -100.0% -18.18% -83.57%
Acquisitions
YoY Change
Other Investing Activities $9.000M $3.433M $12.17M
YoY Change -24.69% 213.23% -160.28%
Cash From Investing Activities $9.000M $3.452M $12.00M
YoY Change -24.39% 211.83% -156.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $19.73M
YoY Change 185.02%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 15.00K 19.80M
YoY Change -83.87% 174.4%
NET CHANGE
Cash From Operating Activities -$6.996M -19.67M -53.82M
Cash From Investing Activities $9.000M 3.452M 12.00M
Cash From Financing Activities 15.00K 19.80M
Net Change In Cash $1.688M -16.20M -22.02M
YoY Change 52.48% 38.09% -72.17%
FREE CASH FLOW
Cash From Operating Activities -$6.996M -$19.67M -$53.82M
Capital Expenditures $0.00 -$9.000K $171.0K
Free Cash Flow -$6.996M -$19.66M -$53.99M
YoY Change -36.65% 52.14% -11.45%

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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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IncreaseDecreaseInDeferredRevenue
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IncreaseDecreaseInDeferredRevenue
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CY2022 us-gaap Increase Decrease In Accounts Payable Trade
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CY2023 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2023 pirs Increase Decrease In Operating Lease Liabilities
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868000 usd
CY2022 pirs Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
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CY2023 pirs Increase Decrease In Operating Lease Liabilities Due To Termination Of Operating Lease
IncreaseDecreaseInOperatingLeaseLiabilitiesDueToTerminationOfOperatingLease
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CY2022 pirs Increase Decrease In Operating Lease Liabilities Due To Termination Of Operating Lease
IncreaseDecreaseInOperatingLeaseLiabilitiesDueToTerminationOfOperatingLease
0 usd
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NetCashProvidedByUsedInOperatingActivities
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
171000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
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CY2023 us-gaap Payments To Acquire Investments
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CY2022 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
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CY2023 us-gaap Proceeds From Stock Options Exercised
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CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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ProceedsFromStockPlans
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ProceedsFromStockPlans
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ProceedsFromIssuanceOfCommonStock
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ProceedsFromIssuanceOfCommonStock
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NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
783000 usd
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38635000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17396000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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UnrealizedGainLossOnInvestments
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CY2022 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
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CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
193000 usd
CY2023Q3 pirs Reduction In Workforce Percentage
ReductionInWorkforcePercentage
0.70 pure
CY2023Q4 pirs Reduction In Workforce Cost
ReductionInWorkforceCost
7500000 usd
CY2023Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
26400000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-24500000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-33300000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-315000000 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Concentration of Credit Risk and Off-Balance Sheet Risk</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company has <em style="font: inherit;">no</em> financial instruments with off‑balance sheet risk such as foreign exchange contracts, option contracts, or other foreign hedging arrangements. Financial instruments that subject Pieris to concentrations of credit risk include cash and cash equivalents, investments, and accounts receivable. The Company’s cash, cash equivalents, and investments are held in accounts with financial institutions that management believes are creditworthy. The Company’s investment policy includes guidelines on the quality of the institutions and financial instruments and defines allowable investments that the Company believes minimizes the exposure to concentration of credit risk. The Company has <em style="font: inherit;">not</em> experienced any credit losses in such accounts and does <em style="font: inherit;">not</em> believe it is exposed to any significant credit risk on these funds. Accounts receivable primarily consist of amounts due under strategic partnership and other license agreements with major multi-national pharmaceutical companies for which the Company does <em style="font: inherit;">not</em> obtain collateral.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"></p>
CY2023 us-gaap Revenues
Revenues
42810000 usd
CY2022 us-gaap Revenues
Revenues
25902000 usd
CY2023 pirs Increase In Contract With Customer Liability
IncreaseInContractWithCustomerLiability
0 usd
CY2023 pirs Decrease In Contract With Customer Liability
DecreaseInContractWithCustomerLiability
39700000 usd
CY2021Q2 us-gaap Grants Receivable
GrantsReceivable
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CY2023Q4 pirs Cash Equivalents And Investments
CashEquivalentsAndInvestments
22194000 usd
CY2022Q4 pirs Cash Equivalents And Investments
CashEquivalentsAndInvestments
38152000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
8969000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
8970000 usd
CY2023 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
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CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
400000 usd
CY2023Q4 pirs Longlived Assets Heldforsale Net Book Value
LonglivedAssetsHeldforsaleNetBookValue
2188000 usd
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
13900000 usd
CY2023Q4 pirs Longlived Assets Heldforsale Net Book Value
LonglivedAssetsHeldforsaleNetBookValue
2200000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
26639000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9647000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
16992000 usd
CY2023 us-gaap Depreciation
Depreciation
1800000 usd
CY2022 us-gaap Depreciation
Depreciation
2300000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
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6448000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3015000 usd
CY2023Q4 pirs Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
968000 usd
CY2022Q4 pirs Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
5758000 usd
CY2023Q4 pirs Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
558000 usd
CY2022Q4 pirs Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
1245000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
363000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
483000 usd
CY2023Q4 pirs Accrued Collaboration Costs Current
AccruedCollaborationCostsCurrent
213000 usd
CY2022Q4 pirs Accrued Collaboration Costs Current
AccruedCollaborationCostsCurrent
245000 usd
CY2023Q4 pirs Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
8550000 usd
CY2022Q4 pirs Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
10746000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-9818000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-11765000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-14726000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-21512000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-24544000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-33277000 usd
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 usd
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
0 usd
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 usd
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 usd
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
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CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.007 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.05 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.038 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.02 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
-0.022 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.021 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.01 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.01 pure
CY2023 pirs Effective Income Tax Rate Reconciliation Release Of Uncertain Tax Position Percent
EffectiveIncomeTaxRateReconciliationReleaseOfUncertainTaxPositionPercent
0.227 pure
CY2022 pirs Effective Income Tax Rate Reconciliation Release Of Uncertain Tax Position Percent
EffectiveIncomeTaxRateReconciliationReleaseOfUncertainTaxPositionPercent
0 pure
CY2023 pirs Effective Income Tax Rate Reconciliation Tax Credit Deduction Percent
EffectiveIncomeTaxRateReconciliationTaxCreditDeductionPercent
0.008 pure
CY2022 pirs Effective Income Tax Rate Reconciliation Tax Credit Deduction Percent
EffectiveIncomeTaxRateReconciliationTaxCreditDeductionPercent
0.012 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.438 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.283 pure
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
67496000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
54845000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
2624000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
3112000 usd
CY2023Q4 pirs Deferred Tax Assets Accrued Compensation And Other
DeferredTaxAssetsAccruedCompensationAndOther
461000 usd
CY2022Q4 pirs Deferred Tax Assets Accrued Compensation And Other
DeferredTaxAssetsAccruedCompensationAndOther
216000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
644000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
413000 usd
CY2023Q4 pirs Deferred Tax Assets Depreciation And Other
DeferredTaxAssetsDepreciationAndOther
479000 usd
CY2022Q4 pirs Deferred Tax Assets Depreciation And Other
DeferredTaxAssetsDepreciationAndOther
384000 usd
CY2023Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
377000 usd
CY2022Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
359000 usd
CY2023Q4 pirs Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
1165000 usd
CY2022Q4 pirs Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
952000 usd
CY2023Q4 pirs Deferred Tax Asset Lease Liability
DeferredTaxAssetLeaseLiability
0 usd
CY2022Q4 pirs Deferred Tax Asset Lease Liability
DeferredTaxAssetLeaseLiability
3541000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
72492000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
63822000 usd
CY2023Q4 pirs Deferred Tax Liabilities Lease Rightofuse Asset
DeferredTaxLiabilitiesLeaseRightofuseAsset
-0 usd
CY2022Q4 pirs Deferred Tax Liabilities Lease Rightofuse Asset
DeferredTaxLiabilitiesLeaseRightofuseAsset
3270000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
-0 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3270000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
72492000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
60552000 usd
CY2023Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
11900000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5363000 usd
CY2023 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
5363000 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
98935025
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
74519103
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
15617
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
39400000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
38400000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3727942
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3075282
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
0.85
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
1.96
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
9284808
CY2023 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
154656
CY2022 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
181466
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3349000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4402000 usd
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4300000 usd
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M26D
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
2200000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
2400000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
1169000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
1356000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
679000 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
737000 usd
CY2023 us-gaap Lease Cost
LeaseCost
1848000 usd
CY2022 us-gaap Lease Cost
LeaseCost
2093000 usd

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pirs-20231231_def.xml Edgar Link unprocessable
pirs-20231231_lab.xml Edgar Link unprocessable
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pirs20231231_10k_htm.xml Edgar Link completed