2021 Q1 Form 10-Q Financial Statement
#000156459021026578 Filed on May 11, 2021
Income Statement
| Concept | 2021 Q1 | 2020 Q1 |
|---|---|---|
| Revenue | $0.00 | $0.00 |
| YoY Change | ||
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $8.370M | $4.850M |
| YoY Change | 72.58% | -24.22% |
| % of Gross Profit | ||
| Research & Development | $29.10M | $23.41M |
| YoY Change | 24.28% | 171.94% |
| % of Gross Profit | ||
| Depreciation & Amortization | $1.070M | $420.0K |
| YoY Change | 154.76% | 110.0% |
| % of Gross Profit | ||
| Operating Expenses | $37.46M | $23.41M |
| YoY Change | 60.01% | 77.11% |
| Operating Profit | -$37.46M | -$28.27M |
| YoY Change | 32.53% | |
| Interest Expense | $838.0K | $914.0K |
| YoY Change | -8.32% | -214.25% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$12.00K | $398.0K |
| YoY Change | -103.02% | -41.47% |
| Pretax Income | -$38.31M | -$28.78M |
| YoY Change | 33.11% | 115.93% |
| Income Tax | $0.00 | $0.00 |
| % Of Pretax Income | ||
| Net Earnings | -$38.31M | -$28.78M |
| YoY Change | 33.11% | 115.87% |
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$618.1K | -$465.5K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 62.11M | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2021 Q1 | 2020 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $270.0M | $103.4M |
| YoY Change | 161.12% | |
| Cash & Equivalents | $169.8M | $63.27M |
| Short-Term Investments | $100.2M | $40.10M |
| Other Short-Term Assets | $4.000M | $5.200M |
| YoY Change | -23.08% | |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $274.0M | $108.6M |
| YoY Change | 152.3% | |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $50.20M | $38.50M |
| YoY Change | 30.39% | |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $3.600M | $3.700M |
| YoY Change | -2.7% | |
| Total Long-Term Assets | $59.30M | $47.70M |
| YoY Change | 24.32% | |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $274.0M | $108.6M |
| Total Long-Term Assets | $59.30M | $47.70M |
| Total Assets | $333.3M | $156.3M |
| YoY Change | 113.24% | |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.500M | $7.700M |
| YoY Change | -67.53% | |
| Accrued Expenses | $20.40M | $21.70M |
| YoY Change | -5.99% | |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $3.000M | $6.000M |
| YoY Change | -50.0% | |
| Total Short-Term Liabilities | $27.80M | $39.90M |
| YoY Change | -30.33% | |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $26.20M | $23.20M |
| YoY Change | 12.93% | |
| Other Long-Term Liabilities | $51.80M | $47.40M |
| YoY Change | 9.28% | |
| Total Long-Term Liabilities | $78.00M | $70.60M |
| YoY Change | 10.48% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $27.80M | $39.90M |
| Total Long-Term Liabilities | $78.00M | $70.60M |
| Total Liabilities | $105.9M | $110.5M |
| YoY Change | -4.16% | |
| 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 | $227.5M | -$176.4M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $333.3M | $156.3M |
| YoY Change | 113.24% |
Cashflow Statement
| Concept | 2021 Q1 | 2020 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$38.31M | -$28.78M |
| YoY Change | 33.11% | 115.87% |
| Depreciation, Depletion And Amortization | $1.070M | $420.0K |
| YoY Change | 154.76% | 110.0% |
| Cash From Operating Activities | -$39.06M | -$22.89M |
| YoY Change | 70.66% | 56.11% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $475.0K | $3.516M |
| YoY Change | -86.49% | -1402.22% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $125.0M | -$2.460M |
| YoY Change | -5181.3% | |
| Cash From Investing Activities | $124.5M | -$5.973M |
| YoY Change | -2184.8% | 2112.22% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 360.0K | 4.346M |
| YoY Change | -91.72% | -95.47% |
| NET CHANGE | ||
| Cash From Operating Activities | -39.06M | -22.89M |
| Cash From Investing Activities | 124.5M | -5.973M |
| Cash From Financing Activities | 360.0K | 4.346M |
| Net Change In Cash | 85.83M | -24.51M |
| YoY Change | -450.15% | -130.27% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$39.06M | -$22.89M |
| Capital Expenditures | $475.0K | $3.516M |
| Free Cash Flow | -$39.53M | -$26.40M |
| YoY Change | 49.73% | 83.47% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021Q1 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
3000000 | |
| CY2020Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
5000 | |
| CY2020Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-281885000 | |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
261968000 | |
| CY2020Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
371484000 | |
| CY2021Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2020Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
250000000 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
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61860897 | |
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Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
61860897 | |
| CY2021Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
37464000 | |
| CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-37464000 | |
| CY2021Q1 | us-gaap |
Interest Expense
InterestExpense
|
838000 | |
| CY2021Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-12000 | |
| CY2021Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-38314000 | |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-38314000 | |
| CY2021Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
10000 | |
| CY2020Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
111000 | |
| CY2021Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-38304000 | |
| CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-149511000 | |
| CY2020Q1 | us-gaap |
Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
|
us-gaap:AccountingStandardsUpdate201602Member | |
| CY2020Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
183000 | |
| CY2020Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1509000 | |
| CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-38314000 | |
| CY2020Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-28784000 | |
| CY2021Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1072000 | |
| CY2020Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
416000 | |
| CY2021Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-4000 | |
| CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3462000 | |
| CY2020Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1509000 | |
| CY2020Q1 | us-gaap |
Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
|
-20000 | |
| CY2021Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
62126736 | |
| CY2021Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
26777000 | |
| CY2020Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
23414000 | |
| CY2020Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-28268000 | |
| CY2020Q1 | us-gaap |
Interest Expense
InterestExpense
|
914000 | |
| CY2020Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
6000 | |
| CY2020Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
543842000 | |
| CY2020Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
398000 | |
| CY2020Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-28784000 | |
| CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-28784000 | |
| CY2021Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
62126736 | |
| CY2020Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-28673000 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.62 | |
| CY2020Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-2.16 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
61981081 | |
| CY2020Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
13322581 | |
| CY2021Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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360000 | |
| CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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3462000 | |
| CY2021Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
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-168000 | |
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Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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-793000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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838000 | |
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Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4738607 | |
| CY2020Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
-245000 | |
| CY2021Q1 | pstx |
Accretion Of Investment Discount Net
AccretionOfInvestmentDiscountNet
|
-46000 | |
| CY2021Q1 | pstx |
Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
|
947000 | |
| CY2020Q1 | pstx |
Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
|
1064000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
137000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1720000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-98000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
-8495000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
|
4600000 | |
| CY2021Q1 | pstx |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
-459000 | |
| CY2020Q1 | pstx |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
-842000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-39056000 | |
| CY2020Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-22885000 | |
| CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
475000 | |
| CY2020Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
3516000 | |
| CY2020Q1 | us-gaap |
Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
|
19957000 | |
| CY2021Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
125000000 | |
| CY2020Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
17500000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
124525000 | |
| CY2020Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-5973000 | |
| CY2021Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
360000 | |
| CY2020Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
183000 | |
| CY2020Q1 | pstx |
Net Proceeds From Grant
NetProceedsFromGrant
|
4163000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
360000 | |
| CY2020Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
4346000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
85829000 | |
| CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-24512000 | |
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
83966000 | |
| CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
87784000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
169795000 | |
| CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
63272000 | |
| CY2021Q1 | pstx |
Purchases Of Property And Equipment Included In Accounts Payable And Accrued Liabilities
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedLiabilities
|
502000 | |
| CY2020Q1 | pstx |
Purchases Of Property And Equipment Included In Accounts Payable And Accrued Liabilities
PurchasesOfPropertyAndEquipmentIncludedInAccountsPayableAndAccruedLiabilities
|
5413000 | |
| CY2020Q1 | pstx |
Tenant Improvements Receivable From Landlord
TenantImprovementsReceivableFromLandlord
|
312000 | |
| CY2020Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
118000 | |
| CY2021Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
671000 | |
| CY2020Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
671000 | |
| CY2021Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1932000 | |
| CY2021Q1 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
16455000 | |
| CY2021Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
256039000 | |
| CY2021Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. On an ongoing basis, the Company evaluates its estimates, which include, but are not limited to, estimates related to accrued expenses, research and development expenses, stock-based compensation expense, deferred tax valuation allowances and, prior to the Company’s initial public offering (“IPO”) completed in July 2020, the fair value of common stock and warrant liability. The Company bases its estimates on historical experience and other market-specific or relevant assumptions that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prior to the IPO, the Company utilized significant estimates and assumptions in determining the fair value of its common stock. The Company has utilized various valuation methodologies in accordance with the framework of the 2004 American Institute of Certified Public Accountants Technical Practice Aid, <font style="font-style:italic;">Valuation of Privately-Held Company Equity Securities Issued as Compensation, </font>to estimate the fair value of its common stock. Each valuation methodology includes estimates and assumptions that require the Company’s judgment. These estimates and assumptions include a number of objective and subjective factors, including the prices at which the Company sold shares of preferred stock and the superior rights, preferences and privileges of the preferred stock relative to the common stock; the Company’s stage of development and material risks related to its business; the progress of the Company’s research and development programs, including the status and results of preclinical studies for its product candidates and progress of its development of manufacturing processes; external market conditions affecting the biopharmaceutical industry and trends within the biopharmaceutical industry; the Company’s results of operations and financial position, including its levels of available capital resources, outstanding debt and its historical and forecasted performance and operating results; the lack of an active public market for the Company’s common stock and preferred stock; the likelihood of achieving a liquidity event, such as an IPO or sale of the Company in light of prevailing market conditions; the hiring of key personnel; and the analysis of IPOs and the market performance of publicly traded companies in the biopharmaceutical industry, as well as recently completed mergers and acquisitions of peer companies. Significant changes to the key assumptions used in the valuations could result in different fair values of common stock at each valuation date. </p> | |
| CY2021Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
256054000 | |
| CY2020Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
295899000 | |
| CY2021Q1 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
0 | |
| CY2021Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
51000 | |
| CY2020Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
5000 | |
| CY2021Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
36000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
270000000 | |
| CY2021Q1 | us-gaap |
Variable Lease Payment
VariableLeasePayment
|
0 | |
| CY2021Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
28901000 | |
| CY2020Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
27931000 | |
| CY2021Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
5665000 | |
| CY2020Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4595000 | |
| CY2021Q1 | pstx |
Accrued Contract Research Services Current
AccruedContractResearchServicesCurrent
|
11204000 | |
| CY2020Q4 | pstx |
Accrued Contract Research Services Current
AccruedContractResearchServicesCurrent
|
15822000 | |
| CY2021Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3319000 | |
| CY2020Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
6793000 | |
| CY2020Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1839000 | |
| CY2020Q4 | us-gaap |
Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
|
24454000 | |
| CY2020Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
295894000 | |
| CY2020Q4 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
0 | |
| CY2021Q1 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
|
0 | |
| CY2017Q3 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
300000 | |
| CY2021Q1 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
800000 | |
| CY2021Q1 | pstx |
Debt Instrument Final Payment Fee Accrued
DebtInstrumentFinalPaymentFeeAccrued
|
1300000 | |
| CY2021Q1 | us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
Each share of common stock is entitled to one vote. | |
| CY2021Q1 | pstx |
Common Stock Dividends Declared
CommonStockDividendsDeclared
|
0 | |
| CY2020Q3 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
46809523 | |
| CY2020Q3 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
42953085 | |
| CY2020Q3 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
42953085 | |
| CY2020Q3 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
326313000 | |
| CY2020Q3 | us-gaap |
Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
|
326313000 | |
| CY2020Q3 | us-gaap |
Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
|
34445108 | |
| CY2021Q1 | pstx |
Lessee Operating Lease Number Of Options To Extend Term
LesseeOperatingLeaseNumberOfOptionsToExtendTerm
|
2 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
|
P5Y | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
|
true | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
|
The manufacturing, laboratory and office space lease agreements include two options to extend the term for a period of 5 years each. | |
| CY2018Q4 | pstx |
Lessee Operating Lease Commencement Date
LesseeOperatingLeaseCommencementDate
|
2019-04-01 | |
| CY2018Q4 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2029-12-31 | |
| CY2018Q4 | us-gaap |
Tenant Improvements
TenantImprovements
|
4200000 | |
| CY2019Q4 | pstx |
Lessee Operating Lease Commencement Date
LesseeOperatingLeaseCommencementDate
|
2020-07-29 | |
| CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
2000000 | |
| CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3462000 | |
| CY2020Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1509000 | |
| CY2019Q4 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2029-12-31 | |
| CY2021Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
47100000 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.005 | |
| CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.007 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.007 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
4604523 | |
| CY2021Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
265839 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
182711 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
8894580 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
8894580 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1956376 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
10.34 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
9.19 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
1.35 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
10.70 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
10.01 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
10.01 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
9.21 | |
| CY2020 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P0Y | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y11M4D | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P8Y11M4D | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y4M13D | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
7854000 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
|
7854000 | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
5051000 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
2400000 | |
| CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.014 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.820 | |
| CY2020Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.790 | |
| CY2021Q1 | us-gaap |
Area Of Land
AreaOfLand
|
83000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
|
P8Y9M | |
| CY2019Q4 | pstx |
Additional Tenant Reimbursements
AdditionalTenantReimbursements
|
1500000 | |
| CY2019Q4 | us-gaap |
Security Deposit
SecurityDeposit
|
300000 | |
| CY2019Q3 | pstx |
Lessee Operating Lease Commencement Date
LesseeOperatingLeaseCommencementDate
|
2020-06-26 | |
| CY2019Q3 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2029-12-31 | |
| CY2019Q3 | us-gaap |
Tenant Improvements
TenantImprovements
|
2900000 | |
| CY2019Q3 | us-gaap |
Security Deposit
SecurityDeposit
|
100000 | |
| CY2021Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
1600000 | |
| CY2020Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
1500000 | |
| CY2021Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1400000 | |
| CY2021Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P8Y1M6D | |
| CY2021Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.089 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
4738000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
5425000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
5555000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
4870000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
4735000 | |
| CY2021Q1 | pstx |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
20403000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
45726000 | |
| CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
13102000 | |
| CY2021Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
32624000 | |
| CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
9015702 | |
| CY2020Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
30385539 |
