2022 Q1 Form 10-K Financial Statement

#000156459022008049 Filed on March 01, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q4 2021
Revenue $1.795M $1.852M $9.326M
YoY Change -33.62% -13.54% 37.41%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.567M $7.431M $26.20M
YoY Change 45.7% 54.17% 94.61%
% of Gross Profit
Research & Development $27.69M $32.97M $101.2M
YoY Change 33.91% 142.06% 169.09%
% of Gross Profit
Depreciation & Amortization $300.0K $208.0K $600.0K
YoY Change 200.0% 89.09% 50.0%
% of Gross Profit
Operating Expenses $36.26M $40.40M $127.4M
YoY Change 36.5% 119.14% 149.45%
Operating Profit -$34.46M -$118.1M
YoY Change 44.44% 166.62%
Interest Expense $250.0K $55.00K $104.0K
YoY Change 175.0% -50.24%
% of Operating Profit
Other Income/Expense, Net -$25.00K -$46.00K -$62.00K
YoY Change -292.31% -355.56% -20.51%
Pretax Income -$34.24M -$38.54M -$118.0M
YoY Change 43.6% 136.72% 166.03%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$34.24M -$38.54M -$118.0M
YoY Change 43.58% 136.79% 166.06%
Net Earnings / Revenue -1907.24% -2080.89% -1265.38%
Basic Earnings Per Share -$0.71 -$2.85
Diluted Earnings Per Share -$709.6K -$815.1K -$2.849M
COMMON SHARES
Basic Shares Outstanding 47.75M 41.43M shares
Diluted Shares Outstanding 48.25M shares 41.43M shares

Balance Sheet

Concept 2022 Q1 2021 Q4 2021
SHORT-TERM ASSETS
Cash & Short-Term Investments $397.1M $405.5M $405.5M
YoY Change 28.96% 23.6% 23.6%
Cash & Equivalents $139.3M $320.4M $320.4M
Short-Term Investments $257.8M $85.10M $85.10M
Other Short-Term Assets $7.729M $5.598M $5.598M
YoY Change 93.23% 59.94% 59.94%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $404.8M $411.1M $411.1M
YoY Change 29.76% 23.96% 23.95%
LONG-TERM ASSETS
Property, Plant & Equipment $5.029M $4.805M $15.59M
YoY Change 129.95% 227.32% 720.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.049M $599.0K $850.0K
YoY Change 188.19% 1174.47% 183.33%
Total Long-Term Assets $16.34M $16.44M $16.44M
YoY Change 482.98% 640.5% 647.23%
TOTAL ASSETS
Total Short-Term Assets $404.8M $411.1M $411.1M
Total Long-Term Assets $16.34M $16.44M $16.44M
Total Assets $421.1M $427.6M $427.6M
YoY Change 33.8% 28.06% 28.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.82M $14.09M $14.09M
YoY Change 80.97% 82.92% 82.92%
Accrued Expenses $6.785M $10.71M $10.71M
YoY Change 151.3% 234.66% 234.66%
Deferred Revenue $4.864M
YoY Change 31.82%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.92M $29.66M $29.66M
YoY Change 76.69% 103.32% 103.14%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.51M $16.49M $16.49M
YoY Change 30.69% 25.89% 25.89%
Total Long-Term Liabilities $14.51M $16.49M $16.49M
YoY Change 30.69% 25.89% 25.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.92M $29.66M $29.66M
Total Long-Term Liabilities $14.51M $16.49M $16.49M
Total Liabilities $45.43M $46.15M $46.15M
YoY Change 58.64% 66.76% 66.61%
SHAREHOLDERS EQUITY
Retained Earnings -$218.8M -$184.5M
YoY Change 142.04% 177.28%
Common Stock $596.5M $566.2M
YoY Change 58.44% 51.88%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $375.7M $381.4M $381.4M
YoY Change
Total Liabilities & Shareholders Equity $421.1M $427.6M $427.6M
YoY Change 33.8% 28.06% 28.06%

Cashflow Statement

Concept 2022 Q1 2021 Q4 2021
OPERATING ACTIVITIES
Net Income -$34.24M -$38.54M -$118.0M
YoY Change 43.58% 136.79% 166.06%
Depreciation, Depletion And Amortization $300.0K $208.0K $600.0K
YoY Change 200.0% 89.09% 50.0%
Cash From Operating Activities -$29.57M -$26.22M -$94.81M
YoY Change 50.27% 100.42% 155.44%
INVESTING ACTIVITIES
Capital Expenditures $758.0K -$1.707M $3.740M
YoY Change 44.38% 642.17% 242.49%
Acquisitions
YoY Change
Other Investing Activities -$174.7M -$82.36M -$78.78M
YoY Change 1131.05% 1077.53%
Cash From Investing Activities -$175.5M -$84.06M -$82.52M
YoY Change 33323.81% 1113.04% 959.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $24.10M $19.60M
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities 24.11M 20.71M 176.3M
YoY Change 141741.18% 4503.11% -35.19%
NET CHANGE
Cash From Operating Activities -29.57M -26.22M -94.81M
Cash From Investing Activities -175.5M -84.06M -82.52M
Cash From Financing Activities 24.11M 20.71M 176.3M
Net Change In Cash -175.5M -89.57M -1.014M
YoY Change 769.16% 357.9% -100.45%
FREE CASH FLOW
Cash From Operating Activities -$29.57M -$26.22M -$94.81M
Capital Expenditures $758.0K -$1.707M $3.740M
Free Cash Flow -$30.33M -$24.51M -$98.55M
YoY Change 50.11% 90.72% 157.93%

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CY2021 us-gaap Proceeds From Stock Plans
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709000
CY2021 us-gaap Increase Decrease In Deferred Revenue
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CY2020 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
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CY2019 us-gaap Increase Decrease In Deferred Revenue
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CY2021 us-gaap Repayments Of Long Term Debt
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0
CY2021 rna Distributions To Members
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CY2020 rna Distributions To Members
DistributionsToMembers
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CY2019 rna Distributions To Members
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CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
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CY2020 us-gaap Payments Of Stock Issuance Costs
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24026000
CY2019 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
930000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
22000
CY2019 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
65000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2490000
CY2021 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
85357000
CY2020 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
6693000
CY2019 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0
CY2021 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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CY2020 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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CY2019 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3740000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1092000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
235000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 rna Proceeds From Issuance Of Common Stock In Public Offering Gross
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185939000
CY2020 rna Proceeds From Issuance Of Common Stock In Public Offering Gross
ProceedsFromIssuanceOfCommonStockInPublicOfferingGross
298080000
CY2019 rna Proceeds From Issuance Of Common Stock In Public Offering Gross
ProceedsFromIssuanceOfCommonStockInPublicOfferingGross
0
CY2021 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
0
CY2020 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
2200000
CY2019 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
72623000
CY2021 us-gaap Proceeds From Convertible Debt
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0
CY2020 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0
CY2019 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
19451000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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176316000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
272037000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
89233000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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227135000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
91488000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
321713000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
94578000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3090000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
320699000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
321713000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
94578000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
0
CY2020 us-gaap Interest Paid Net
InterestPaidNet
571000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
322000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
12074000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
936000
CY2019 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
807000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
220000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
118000
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
43000
CY2021Q4 us-gaap Change In Accounting Principle Accounting Standards Update Adoption Date
ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate
2019-01-01
CY2021 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
0
CY2020 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
136920000
CY2019 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
0
CY2021 rna Issuance Of Convertible Preferred Stock Upon Conversion Of Convertible Notes
IssuanceOfConvertiblePreferredStockUponConversionOfConvertibleNotes
0
CY2020 rna Issuance Of Convertible Preferred Stock Upon Conversion Of Convertible Notes
IssuanceOfConvertiblePreferredStockUponConversionOfConvertibleNotes
0
CY2019 rna Issuance Of Convertible Preferred Stock Upon Conversion Of Convertible Notes
IssuanceOfConvertiblePreferredStockUponConversionOfConvertibleNotes
29510000
CY2021 rna Reclassification Of Warrant Liability To Equity Due To Adjustment From Preferred Stock Warrant To Common Stock Warrant Upon Completion Of Initial Public Offering
ReclassificationOfWarrantLiabilityToEquityDueToAdjustmentFromPreferredStockWarrantToCommonStockWarrantUponCompletionOfInitialPublicOffering
0
CY2020 rna Reclassification Of Warrant Liability To Equity Due To Adjustment From Preferred Stock Warrant To Common Stock Warrant Upon Completion Of Initial Public Offering
ReclassificationOfWarrantLiabilityToEquityDueToAdjustmentFromPreferredStockWarrantToCommonStockWarrantUponCompletionOfInitialPublicOffering
120000
CY2019 rna Reclassification Of Warrant Liability To Equity Due To Adjustment From Preferred Stock Warrant To Common Stock Warrant Upon Completion Of Initial Public Offering
ReclassificationOfWarrantLiabilityToEquityDueToAdjustmentFromPreferredStockWarrantToCommonStockWarrantUponCompletionOfInitialPublicOffering
0
CY2021 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On June 4, 2020, the Company effected a one-for-2.1095 reverse stock split of its common stock (the Reverse Stock Split).
CY2020Q2 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2.1095
CY2021Q3 rna Sale Of Common Stock Maximum Aggregate Offering Price
SaleOfCommonStockMaximumAggregateOfferingPrice
150000000.0
CY2021 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
780549000
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19600000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-184500000
CY2021Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
405500000
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:5.24%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s financial statements<span style="letter-spacing:-0.45pt;"> </span>are<span style="letter-spacing:-0.35pt;"> </span>prepared<span style="letter-spacing:-0.2pt;"> </span>in<span style="letter-spacing:-0.15pt;"> </span><span style="letter-spacing:0.1pt;">accordance</span><span style="letter-spacing:-0.35pt;"> </span>with<span style="letter-spacing:-0.15pt;"> GAAP, which</span><span style="letter-spacing:-0.45pt;"> </span>requires<span style="letter-spacing:-0.5pt;"> the Company </span>to<span style="letter-spacing:-0.2pt;"> </span>make<span style="letter-spacing:-0.3pt;"> </span>estimates <span style="letter-spacing:0.1pt;">and assumptions </span><span style="letter-spacing:0.15pt;">that </span><span style="letter-spacing:0.1pt;">impact </span><span style="letter-spacing:0.15pt;">the </span>reported <span style="letter-spacing:0.15pt;">amounts of </span>assets, <span style="letter-spacing:0.15pt;">liabilities, </span><span style="letter-spacing:0.1pt;">revenues and expenses and </span><span style="letter-spacing:0.15pt;">the </span><span style="letter-spacing:0.1pt;">disclosure </span><span style="letter-spacing:0.15pt;">of </span><span style="letter-spacing:0.2pt;">contingent </span>assets <span style="letter-spacing:0.1pt;">and </span><span style="letter-spacing:0.15pt;">liabilities in the financial statements and accompanying notes. The most significant estimates in the Company’s financial statements </span>relate <span style="letter-spacing:0.1pt;">to</span> revenue recognition, stock-based compensation, and accrued research and development costs. <span style="letter-spacing:0.15pt;">Although </span><span style="letter-spacing:0.1pt;">these </span>estimates are based <span style="letter-spacing:0.15pt;">on the </span><span style="letter-spacing:0.1pt;">Company’s</span><span style="letter-spacing:-0.45pt;"> </span><span style="letter-spacing:0.15pt;">knowledge</span><span style="letter-spacing:-0.3pt;"> </span><span style="letter-spacing:0.15pt;">of</span><span style="letter-spacing:-0.65pt;"> </span>current<span style="letter-spacing:-0.2pt;"> </span><span style="letter-spacing:0.15pt;">events</span><span style="letter-spacing:-0.45pt;"> </span><span style="letter-spacing:0.1pt;">and</span><span style="letter-spacing:-0.1pt;"> </span><span style="letter-spacing:0.15pt;">actions</span><span style="letter-spacing:-0.45pt;"> </span>it<span style="letter-spacing:-0.2pt;"> </span>may<span style="letter-spacing:-0.15pt;"> </span><span style="letter-spacing:0.15pt;">undertake</span><span style="letter-spacing:-0.3pt;"> </span>in<span style="letter-spacing:-0.1pt;"> </span><span style="letter-spacing:0.15pt;">the</span><span style="letter-spacing:-0.3pt;"> </span>future,<span style="letter-spacing:-0.6pt;"> </span><span style="letter-spacing:0.1pt;">actual</span><span style="letter-spacing:-0.2pt;"> </span>results<span style="letter-spacing:-0.45pt;"> </span>may<span style="letter-spacing:-0.1pt;"> </span><span style="letter-spacing:0.1pt;">ultimately</span><span style="letter-spacing:-0.15pt;"> </span>materially<span style="letter-spacing:-0.1pt;"> </span>differ<span style="letter-spacing:-0.65pt;"> </span>from<span style="letter-spacing:-0.45pt;"> </span><span style="letter-spacing:0.1pt;">these</span><span style="letter-spacing:-0.3pt;"> </span>estimates <span style="letter-spacing:0.1pt;">and</span><span style="letter-spacing:0.05pt;"> </span><span style="letter-spacing:0.1pt;">assumptions.</span></p>
CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2020 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2019 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2021 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
0
CY2020 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
0
CY2019 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
0
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Arial;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:5.24%;font-size:10pt;font-family:Arial;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant risk on its cash balances due to the financial position of the depository institutions in which those deposits are held. Additionally, the Company has established guidelines regarding approved investments, credit quality, diversification, liquidity and maturities of investments, which are designed to maintain safety and liquidity.</p>
CY2021Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2021Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2021 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
33600
CY2020 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
123285
CY2019 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
217524
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5796000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3858000
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19545000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2774000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
85282000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
187000
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
85095000
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
6684000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
6679000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6538000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
11729000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3447000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1733000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1979000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4805000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1468000
CY2021 us-gaap Depreciation
Depreciation
600000
CY2020 us-gaap Depreciation
Depreciation
400000
CY2019 us-gaap Depreciation
Depreciation
300000
CY2021 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
During the periods presented, the Company was party to various non-cancellable office and laboratory space operating leases and short-term leases. Currently, the Company is only party to a non-cancellable office and laboratory space operating lease. Under the relevant guidance, the Company recognizes operating lease right-of-use (ROU) assets and liabilities based on the present value of the future minimum lease payments over the lease term at the commencement date, using the Company’s assumed incremental borrowing rate of 5.5%, and amortizes the ROU assets and liabilities over the lease term. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company’s short-term leases are not subject to recognition of an ROU asset or liability or straight-line lease expense requirements.
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10784000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9960000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1769000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3113000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3207000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3303000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3111000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14503000
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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23.23
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
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172000
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.42
CY2021Q4 us-gaap Operating Lease Liability Current
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1769000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9960000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
163000
CY2019 us-gaap Operating Lease Payments
OperatingLeasePayments
382000
CY2019 us-gaap Operating Lease Expense
OperatingLeaseExpense
302000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y10M24D
CY2021Q3 rna Sale Of Common Stock Maximum Aggregate Offering Price
SaleOfCommonStockMaximumAggregateOfferingPrice
150000000.0
CY2021Q3 rna Termination Notice Period For Sales Agreement
TerminationNoticePeriodForSalesAgreement
P10D
CY2021 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
780549000
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19600000
CY2019Q2 rna Retained Earnings Accumulated Deficit Reclassified To Additional Paid In Capital
RetainedEarningsAccumulatedDeficitReclassifiedToAdditionalPaidInCapital
44100000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3788000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.06
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2671000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
509000
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
22.99
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5778000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.49
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
58950000
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
29226000
CY2019 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1057000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.91
CY2021 rna Income Tax Reconciliation Permanent Items
IncomeTaxReconciliationPermanentItems
210000
CY2020 rna Income Tax Reconciliation Permanent Items
IncomeTaxReconciliationPermanentItems
1000
CY2019 rna Income Tax Reconciliation Permanent Items
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CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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