2024 Q2 Form 10-Q Financial Statement

#000196291824000052 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $16.64M $24.74M $11.91M
YoY Change 31.4% 107.69%
% of Gross Profit
Research & Development $76.38M $58.03M $167.9M
YoY Change 154.35% -65.44% 1191.39%
% of Gross Profit
Depreciation & Amortization $116.0K $55.00K $0.00
YoY Change 329.63%
% of Gross Profit
Operating Expenses $93.03M $82.77M $179.8M
YoY Change 117.88% -53.97% 1018.02%
Operating Profit -$93.03M -$82.77M -$179.8M
YoY Change 117.88% -53.97% 1018.02%
Interest Expense $8.447M $9.150M $3.446M
YoY Change -49.81% 165.53%
% of Operating Profit
Other Income/Expense, Net -$1.094M $38.65M -$63.00K
YoY Change 536.05% -61450.79%
Pretax Income -$85.67M -$34.97M -$176.5M
YoY Change 229.01% -80.18%
Income Tax
% Of Pretax Income
Net Earnings -$85.67M -$34.97M -$176.5M
YoY Change 229.01% -80.18% 996.98%
Net Earnings / Revenue
Basic Earnings Per Share -$0.86 -$0.36 -$8.61
Diluted Earnings Per Share -$0.86 -$0.36 -$8.61
COMMON SHARES
Basic Shares Outstanding 99.03M shares 98.37M shares 20.49M shares
Diluted Shares Outstanding 99.16M shares 97.91M shares 20.49M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $635.2M $678.5M $289.2M
YoY Change -22.81% 134.63%
Cash & Equivalents $128.2M $264.5M $289.2M
Short-Term Investments $507.0M $414.0M $0.00
Other Short-Term Assets $7.500M $10.09M $2.412M
YoY Change 11.56% 318.24%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $648.3M $694.0M $291.9M
YoY Change -21.88% 137.78%
LONG-TERM ASSETS
Property, Plant & Equipment $1.509M $2.179M $238.0K
YoY Change -23.48% 815.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $868.0K $175.0K $5.093M
YoY Change -58.21% -96.56%
Total Long-Term Assets $3.478M $3.503M $6.663M
YoY Change -34.8% -47.43%
TOTAL ASSETS
Total Short-Term Assets $648.3M $694.0M $291.9M
Total Long-Term Assets $3.478M $3.503M $6.663M
Total Assets $651.7M $697.5M $298.5M
YoY Change -21.96% 133.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $40.72M $9.994M $10.77M
YoY Change 346.17% -7.21%
Accrued Expenses $40.60M $41.71M $19.61M
YoY Change 90.3% 112.66%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $82.45M $52.28M $33.66M
YoY Change 151.75% 55.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.069M $1.134M $11.61M
YoY Change -18.33% -90.24%
Total Long-Term Liabilities $1.069M $1.134M $11.61M
YoY Change -18.33% -90.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $82.45M $52.28M $33.66M
Total Long-Term Liabilities $1.069M $1.134M $11.61M
Total Liabilities $83.52M $53.42M $45.28M
YoY Change 145.22% 17.98%
SHAREHOLDERS EQUITY
Retained Earnings -$609.4M -$523.7M -$283.5M
YoY Change 96.83% 84.73%
Common Stock $1.000K $1.000K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $568.2M $644.1M -$143.4M
YoY Change
Total Liabilities & Shareholders Equity $651.7M $697.5M $298.5M
YoY Change -21.96% 133.65%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$85.67M -$34.97M -$176.5M
YoY Change 229.01% -80.18% 996.98%
Depreciation, Depletion And Amortization $116.0K $55.00K $0.00
YoY Change 329.63%
Cash From Operating Activities -$46.28M -$57.30M -$25.30M
YoY Change 46.35% 126.48% 73.29%
INVESTING ACTIVITIES
Capital Expenditures $814.0K $55.00K $238.0K
YoY Change -53.78% -76.89%
Acquisitions
YoY Change
Other Investing Activities -$88.37M $101.0M $150.4M
YoY Change -66.79% -32.87%
Cash From Investing Activities -$89.18M $100.9M $47.54M
YoY Change -66.71% 112.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -289.0K $2.807M -$129.0K
YoY Change -100.05% -2275.97% -100.1%
NET CHANGE
Cash From Operating Activities -46.28M -$57.30M -$25.30M
Cash From Investing Activities -89.18M $100.9M $47.54M
Cash From Financing Activities -289.0K $2.807M -$129.0K
Net Change In Cash -135.7M $46.40M $22.08M
YoY Change -150.85% 110.12% -80.0%
FREE CASH FLOW
Cash From Operating Activities -$46.28M -$57.30M -$25.30M
Capital Expenditures $814.0K $55.00K $238.0K
Free Cash Flow -$47.09M -$57.36M -$25.54M
YoY Change 41.07% 124.59% 74.92%

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CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-25300000 usd
CY2024Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
678500000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:12pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates estimates and assumptions, including but not limited to those related to the fair value of its derivative tranche liability, the fair value of its common stock, stock-based compensation expense, accruals for research and development expenses, valuation of deferred tax assets, and uncertain income tax positions. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from those estimates.</span></div>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:12pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash and cash equivalents, and short-term marketable securities are financial instruments that potentially subject the Company to concentrations of credit risk. As of March 31, 2024 and December 31, 2023, cash consists of cash deposited </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">with one financial institution, and account balances exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial strength of this institution.</span></div><div style="margin-top:12pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also has investments in money market funds, U.S. Treasury obligations, corporate debt obligations, and federal agency obligations, which can be subject to certain credit risks. The Company mitigates the risks by investing in high-grade instruments, limiting its exposure to any one issuer and monitoring the ongoing creditworthiness of the financial institutions and issuers. The Company has not experienced any losses on its financial instruments.</span></div>
CY2024Q1 slrn Concentration Risk Credit Risk Number Of Financial Institutions With Cash Deposits
ConcentrationRiskCreditRiskNumberOfFinancialInstitutionsWithCashDeposits
1 institution
CY2022Q4 slrn Asset Acquisition Number Of Subsidiaries Formed
AssetAcquisitionNumberOfSubsidiariesFormed
2 subsidiary
CY2024Q1 slrn Asset Acquisition Separately Recognized Transactions Severance Payable Current
AssetAcquisitionSeparatelyRecognizedTransactionsSeverancePayableCurrent
200000 usd
CY2023Q4 slrn Asset Acquisition Separately Recognized Transactions Severance Payable Current
AssetAcquisitionSeparatelyRecognizedTransactionsSeverancePayableCurrent
300000 usd
CY2024Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
655298000 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
711588000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
655298000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
711588000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
655402000 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
21000 usd
CY2024Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
125000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
655298000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
711426000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
204000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
42000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
711588000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Amortized Cost Allowance For Credit Loss Excluding Accrued Interest
DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest
0 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss Current
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLossCurrent
1200000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss Current
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLossCurrent
800000 usd
CY2024Q1 us-gaap Debt Securities Available For Sale Accrued Interest Writeoff
DebtSecuritiesAvailableForSaleAccruedInterestWriteoff
0 usd
CY2024Q1 slrn Prepaid Research And Development Expenses Current
PrepaidResearchAndDevelopmentExpensesCurrent
7247000 usd
CY2023Q4 slrn Prepaid Research And Development Expenses Current
PrepaidResearchAndDevelopmentExpensesCurrent
8184000 usd
CY2024Q1 slrn Valued Added Tax Receivable Current
ValuedAddedTaxReceivableCurrent
4166000 usd
CY2023Q4 slrn Valued Added Tax Receivable Current
ValuedAddedTaxReceivableCurrent
3985000 usd
CY2024Q1 us-gaap Prepaid Insurance
PrepaidInsurance
1423000 usd
CY2023Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1712000 usd
CY2024Q1 us-gaap Interest Receivable Current
InterestReceivableCurrent
1189000 usd
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
764000 usd
CY2024Q1 slrn Prepaid Other Services Current
PrepaidOtherServicesCurrent
1418000 usd
CY2023Q4 slrn Prepaid Other Services Current
PrepaidOtherServicesCurrent
667000 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15443000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15312000 usd
CY2024Q1 slrn Prepaid Research And Development Expense Noncurrent
PrepaidResearchAndDevelopmentExpenseNoncurrent
141000 usd
CY2023Q4 slrn Prepaid Research And Development Expense Noncurrent
PrepaidResearchAndDevelopmentExpenseNoncurrent
2644000 usd
CY2024Q1 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
34000 usd
CY2023Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
34000 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
175000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
2678000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2349000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2294000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
170000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
115000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2179000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2179000 usd
CY2024Q1 slrn Accrued Clinical Manufacturing Expenses Current
AccruedClinicalManufacturingExpensesCurrent
26969000 usd
CY2023Q4 slrn Accrued Clinical Manufacturing Expenses Current
AccruedClinicalManufacturingExpensesCurrent
22232000 usd
CY2024Q1 slrn Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
10560000 usd
CY2023Q4 slrn Accrued Clinical Expenses Current
AccruedClinicalExpensesCurrent
13204000 usd
CY2024Q1 slrn Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
37529000 usd
CY2023Q4 slrn Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
35436000 usd
CY2024Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
2643000 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
5417000 usd
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1020000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1099000 usd
CY2024Q1 slrn Accrued Liabilities And Current Liabilities Other
AccruedLiabilitiesAndCurrentLiabilitiesOther
519000 usd
CY2023Q4 slrn Accrued Liabilities And Current Liabilities Other
AccruedLiabilitiesAndCurrentLiabilitiesOther
317000 usd
CY2024Q1 slrn Accrued Compensation And Other Current Liabilities
AccruedCompensationAndOtherCurrentLiabilities
4182000 usd
CY2023Q4 slrn Accrued Compensation And Other Current Liabilities
AccruedCompensationAndOtherCurrentLiabilities
6833000 usd
CY2024Q1 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
117700000 usd
CY2023Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
142300000 usd
CY2023Q1 slrn Lessee Operating Lease Square Feet Leased
LesseeOperatingLeaseSquareFeetLeased
10012 sqft
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P65M
CY2023Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
CY2023Q1 slrn Lessee Operating Lease Monthly Payments
LesseeOperatingLeaseMonthlyPayments
30500 usd
CY2023Q1 slrn Lessee Operating Lease Annual Rent Increase Percent
LesseeOperatingLeaseAnnualRentIncreasePercent
0.030
CY2023Q1 slrn Lessee Operating Lease Rent Abatement Term
LesseeOperatingLeaseRentAbatementTerm
P6M
CY2024Q1 us-gaap Security Deposit
SecurityDeposit
34000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1300000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1300000 usd
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
100000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
100000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
283000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
386000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
398000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
409000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
280000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1756000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
392000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1364000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
230000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1134000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P53M
CY2024Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.12
CY2024Q1 us-gaap Variable Lease Payment
VariableLeasePayment
100000 usd
CY2023Q2 slrn Conversion Of Stock Ratio
ConversionOfStockRatio
1
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
24980221 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
20101379 shares
CY2023Q2 slrn Conversion Of Stock Ratio
ConversionOfStockRatio
1
CY2020Q3 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
2839749 shares
CY2020Q3 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
0.00002
CY2023Q2 slrn Share Based Compensation Arrangement By Share Based Payment Award And Cash Based Compensation Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardAndCashBasedCompensationMaximum
750000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.9220
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0395
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0395
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0339
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0412
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9630623 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.4619
CY2023 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P9Y
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
12007000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3779070 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.6815
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
153916 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.7305
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
360 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
5.8766
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
339902 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.6418
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12915515 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.7622
CY2024Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P9Y1M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7696000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1925317 shares
CY2024Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
4.9361
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y9M18D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4034000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
12915515 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
9.7622
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y1M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
7696000 usd
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2000000.0 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.3756
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8737
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.8737
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.9136
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20163000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7139000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20163000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7139000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-34973000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-176450000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
98090167 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
21023566 shares
CY2024Q1 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
176507 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
531465 shares
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
97913660 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
97913660 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20492101 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20492101 shares
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.61
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.61
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
17300334 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
49128447 shares
CY2024Q1 us-gaap Other Nonrecurring Income
OtherNonrecurringIncome
30000000.0 usd
CY2024Q1 slrn Research And Development Expense Vendor Service Credit
ResearchAndDevelopmentExpenseVendorServiceCredit
5000000.0 usd
CY2024Q1 us-gaap Other Nonrecurring Income
OtherNonrecurringIncome
30000000.0 usd
CY2024Q1 slrn Research And Development Expense Vendor Service Credit
ResearchAndDevelopmentExpenseVendorServiceCredit
5000000.0 usd
CY2024Q1 us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
7000000.0 usd
CY2024Q1 us-gaap Disposal Group Including Discontinued Operation Consideration
DisposalGroupIncludingDiscontinuedOperationConsideration
157500000 usd

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R57.htm Edgar Link pending
R6.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
slrn-20240331.htm Edgar Link pending
slrn-20240331.xsd Edgar Link pending
slrn-20240331x10qexx311.htm Edgar Link pending
slrn-20240331x10qexx312.htm Edgar Link pending
slrn-20240331x10qexx321.htm Edgar Link pending
slrn-20240331_def.xml Edgar Link unprocessable
slrn-20240331_lab.xml Edgar Link unprocessable
slrn-20240331_pre.xml Edgar Link unprocessable
slrn-20240331_htm.xml Edgar Link completed