2023 Q4 Form 10-Q Financial Statement
#000168036723000062 Filed on November 09, 2023
Income Statement
| Concept | 2023 Q4 | 2023 Q3 |
|---|---|---|
| Revenue | $714.0K | $686.0K |
| YoY Change | 83.08% | 223.58% |
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $4.438M | $5.070M |
| YoY Change | -7.14% | -22.94% |
| % of Gross Profit | ||
| Research & Development | $15.13M | $24.21M |
| YoY Change | -31.2% | 28.36% |
| % of Gross Profit | ||
| Depreciation & Amortization | $981.0K | $1.020M |
| YoY Change | -2.39% | 9.21% |
| % of Gross Profit | ||
| Operating Expenses | $19.56M | $29.28M |
| YoY Change | -26.9% | 15.11% |
| Operating Profit | -$28.60M | |
| YoY Change | 13.35% | |
| Interest Expense | $4.669M | |
| YoY Change | 193.28% | |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$3.405M | $1.057M |
| YoY Change | 368.36% | 77.95% |
| Pretax Income | -$17.69M | -$27.54M |
| YoY Change | -30.4% | 11.79% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$17.69M | -$27.54M |
| YoY Change | -30.4% | 11.8% |
| Net Earnings / Revenue | -2477.17% | -4014.72% |
| Basic Earnings Per Share | -$0.65 | |
| Diluted Earnings Per Share | -$0.41 | -$0.65 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 42.49M shares | 42.47M shares |
| Diluted Shares Outstanding | 42.48M shares |
Balance Sheet
| Concept | 2023 Q4 | 2023 Q3 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $130.6M | $101.1M |
| YoY Change | -19.01% | -45.4% |
| Cash & Equivalents | $125.6M | $40.63M |
| Short-Term Investments | $4.999M | $60.44M |
| Other Short-Term Assets | $12.60M | $11.90M |
| YoY Change | -45.95% | -27.45% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $143.2M | $113.0M |
| YoY Change | -22.41% | -43.93% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $13.80M | $14.80M |
| YoY Change | -21.88% | -18.89% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $2.540M | $2.673M |
| YoY Change | -17.24% | -16.08% |
| Total Long-Term Assets | $16.34M | $17.47M |
| YoY Change | -21.2% | -18.47% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $143.2M | $113.0M |
| Total Long-Term Assets | $16.34M | $17.47M |
| Total Assets | $159.6M | $130.5M |
| YoY Change | -22.29% | -41.48% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $1.587M | $2.016M |
| YoY Change | -77.87% | -33.6% |
| Accrued Expenses | $9.866M | $11.30M |
| YoY Change | -44.56% | -29.83% |
| Deferred Revenue | $343.0K | $557.0K |
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $11.45M | $14.06M |
| YoY Change | -54.12% | -26.54% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $3.406M | $3.600M |
| YoY Change | -18.94% | -17.92% |
| Total Long-Term Liabilities | $3.406M | $3.600M |
| YoY Change | -18.94% | -17.92% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $11.45M | $14.06M |
| Total Long-Term Liabilities | $3.406M | $3.600M |
| Total Liabilities | $14.86M | $17.67M |
| YoY Change | -49.06% | -24.87% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$306.3M | -$288.6M |
| YoY Change | 39.86% | 49.07% |
| Common Stock | $5.000K | $5.000K |
| YoY Change | 0.0% | 0.0% |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $144.7M | $112.8M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $159.6M | $130.5M |
| YoY Change | -22.29% | -41.48% |
Cashflow Statement
| Concept | 2023 Q4 | 2023 Q3 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$17.69M | -$27.54M |
| YoY Change | -30.4% | 11.8% |
| Depreciation, Depletion And Amortization | $981.0K | $1.020M |
| YoY Change | -2.39% | 9.21% |
| Cash From Operating Activities | -$19.42M | -$16.73M |
| YoY Change | -18.55% | -40.39% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $17.00K | $20.00K |
| YoY Change | -97.55% | -102.67% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $55.87M | -$14.53M |
| YoY Change | 73.75% | -147.37% |
| Cash From Investing Activities | $55.85M | -$14.55M |
| YoY Change | 77.52% | -148.62% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 48.56M | 20.00K |
| YoY Change | -25.93% | |
| NET CHANGE | ||
| Cash From Operating Activities | -19.42M | -16.73M |
| Cash From Investing Activities | 55.85M | -14.55M |
| Cash From Financing Activities | 48.56M | 20.00K |
| Net Change In Cash | 84.99M | -31.26M |
| YoY Change | 1015.26% | -1755.72% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$19.42M | -$16.73M |
| Capital Expenditures | $17.00K | $20.00K |
| Free Cash Flow | -$19.44M | -$16.75M |
| YoY Change | -20.78% | -38.68% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
113901000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
81000 | usd |
| CY2022Q3 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
-226000 | usd |
| us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
884000 | usd | |
| us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
-774000 | usd | |
| CY2023Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.65 | |
| CY2023Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.65 | |
| CY2022Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.58 | |
| CY2022Q3 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.58 | |
| CY2023Q1 | sttk |
Stock Issued During Period Value Stock Options Exercised And Espp Purchased
StockIssuedDuringPeriodValueStockOptionsExercisedAndESPPPurchased
|
39000 | usd |
| CY2023Q1 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
16153 | shares |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
538000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-20724000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
157654000 | usd |
| CY2023Q2 | sttk |
Stock Issued During Period Value Stock Options Exercised And Espp Purchased
StockIssuedDuringPeriodValueStockOptionsExercisedAndESPPPurchased
|
33000 | usd |
| CY2023Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1852000 | usd |
| CY2023Q2 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
265000 | usd |
| CY2023Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-21346000 | usd |
| CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
138458000 | usd |
| CY2023Q3 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
60442000 | usd |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.64 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.64 | ||
| CY2023Q3 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
42477642 | shares |
| CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
42477642 | shares |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
42374955 | shares | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
42374955 | shares | |
| CY2023Q3 | sttk |
Stock Issued During Period Value Stock Options Exercised And Espp Purchased
StockIssuedDuringPeriodValueStockOptionsExercisedAndESPPPurchased
|
21000 | usd |
| CY2023Q3 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
1074 | shares |
| CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1764000 | usd |
| CY2023Q3 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
81000 | usd |
| CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27541000 | usd |
| CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
112783000 | usd |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
271786000 | usd |
| CY2022Q1 | sttk |
Stock Issued During Period Value Stock Options Exercised And Espp Purchased
StockIssuedDuringPeriodValueStockOptionsExercisedAndESPPPurchased
|
134000 | usd |
| CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1513000 | usd |
| CY2022Q1 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
33000 | usd |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-24528000 | usd |
| CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
248938000 | usd |
| CY2022Q2 | sttk |
Stock Issued During Period Value Stock Options Exercised And Espp Purchased
StockIssuedDuringPeriodValueStockOptionsExercisedAndESPPPurchased
|
10000 | usd |
| CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1533000 | usd |
| CY2022Q2 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
-581000 | usd |
| CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27371000 | usd |
| CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
222529000 | usd |
| CY2022Q3 | sttk |
Stock Issued During Period Value Stock Options Exercised And Espp Purchased
StockIssuedDuringPeriodValueStockOptionsExercisedAndESPPPurchased
|
27000 | usd |
| CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1723000 | usd |
| CY2022Q3 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
-226000 | usd |
| CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-24635000 | usd |
| CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
199418000 | usd |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-69611000 | usd | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-76534000 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
5299000 | usd | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4769000 | usd | |
| us-gaap |
Depreciation
Depreciation
|
3061000 | usd | |
| us-gaap |
Depreciation
Depreciation
|
2068000 | usd | |
| us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
267000 | usd | |
| us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
220000 | usd | |
| us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
1055000 | usd | |
| us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
-1509000 | usd | |
| us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
204000 | usd | |
| us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
770000 | usd | |
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-11890000 | usd | |
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-3060000 | usd | |
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-129000 | usd | |
| us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
87000 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-5154000 | usd | |
| us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-7197000 | usd | |
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-6309000 | usd | |
| us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
1066000 | usd | |
| us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-587000 | usd | |
| us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-517000 | usd | |
| us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
57000 | usd | |
| us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
216000 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-61809000 | usd | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-70657000 | usd | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
390000 | usd | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
10921000 | usd | |
| us-gaap |
Payments For Proceeds From Availableforsale Securities Shortterm
PaymentsForProceedsFromAvailableforsaleSecuritiesShortterm
|
-55398000 | usd | |
| us-gaap |
Payments For Proceeds From Availableforsale Securities Shortterm
PaymentsForProceedsFromAvailableforsaleSecuritiesShortterm
|
-28897000 | usd | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
55008000 | usd | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
17976000 | usd | |
| us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
93000 | usd | |
| us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
171000 | usd | |
| us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
39000 | usd | |
| us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
0 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
54000 | usd | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
171000 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-6747000 | usd | |
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-52510000 | usd | |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
47379000 | usd |
| CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
92268000 | usd |
| CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
40632000 | usd |
| CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
39758000 | usd |
| sttk |
Increase Decrease In Deferred Revenue Billed But Not Received
IncreaseDecreaseInDeferredRevenueBilledButNotReceived
|
500000 | usd | |
| sttk |
Increase Decrease In Deferred Revenue Billed But Not Received
IncreaseDecreaseInDeferredRevenueBilledButNotReceived
|
0 | usd | |
| us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
0 | usd | |
| us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
221000 | usd | |
| sttk |
Operating Lease Liabilities Recognized For Operating Lease Right Of Use Assets
OperatingLeaseLiabilitiesRecognizedForOperatingLeaseRightOfUseAssets
|
0 | usd | |
| sttk |
Operating Lease Liabilities Recognized For Operating Lease Right Of Use Assets
OperatingLeaseLiabilitiesRecognizedForOperatingLeaseRightOfUseAssets
|
5447000 | usd | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
0 | usd | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
2945000 | usd | |
| us-gaap |
Nature Of Operations
NatureOfOperations
|
Organization and Description of Business <div style="margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Shattuck Labs, Inc. (the “Company”) was incorporated in 2016 in the State of Delaware and is a clinical-stage biopharmaceutical company developing dual-sided fusion proteins, including its Agonist Redirected Checkpoint (“ARC</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”) platform as a novel class of biologic medicines capable of multifunctional activity with potential applications in oncology and inflammatory diseases. Using its proprietary technology, the Company is building a pipeline of therapeutics, initially focused on the treatment of solid tumors and hematologic malignancies. The Company has one clinical-stage product candidate, SL-172154, and has several compounds in preclinical development. </span></div><div style="margin-top:6pt;padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity</span></div><div style="margin-top:6pt;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 has incurred losses and negative cash flows from operations since inception and has an accumulated deficit of $288.6 million as of September 30, 2023. The Company anticipates incurring additional losses and negative cash flows from operations until such time, if ever, that it can generate significant sales of its product candidates currently in development, and is highly dependent on its ability to find additional sources of funding in the form of licensing of its technology, collaboration agreements and/or public and private debt and equity financings. Adequate additional funding may not be available to the Company on acceptable terms, or at all. The failure to raise funds as and when needed could have a negative impact on the Company’s financial condition and ability to pursue its clinical operations, research and development and commercialization of its product candidates. Management believes that the Company’s cash and cash equivalents and investments of $101.1 million as of September 30, 2023 are sufficient to fund projected operations of the Company for at least the next twelve months. </span></div><div style="margin-top:6pt;padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Global Economic Considerations</span></div><div style="margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The global macroeconomic environment is uncertain, and could be negatively affected by, among other things, increased U.S. trade tariffs and trade disputes with other countries, instability in the global capital and credit markets, supply chain weaknesses, instability in the geopolitical environment, including as a result of the Russian invasion of Ukraine and other political tensions, and lingering effects of the COVID-19 pandemic. Such challenges have caused, and may continue to cause, recession fears, rising interest rates, foreign exchange volatility and inflationary pressures. At this time, we are unable to quantify the potential effects of this economic instability on our future operations.</span></div> | ||
| CY2023Q3 | sttk |
Number Of Clinical Stage Product Candidates
NumberOfClinicalStageProductCandidates
|
1 | candidate |
| CY2023Q3 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-288600000 | usd |
| CY2023Q3 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
101100000 | usd |
| CY2023Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3981000 | usd |
| CY2022Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3967000 | usd |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top:6pt;padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:6pt;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 GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant </span></div>estimates and assumptions reflected in these financial statements include, but are not limited to, revenue recognition, the accrual of research and development expenses, and the valuation of stock-based awards. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates, if any, are recorded in the period in which they become known and actual results could differ from management’s estimates. | ||
| us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment | |
| us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-top:6pt;padding-left:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Risk </span></div><div style="margin-top:6pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash, cash equivalents and investments. The Company maintains its cash and cash equivalents at two accredited financial institutions in amounts that exceed federally-insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. The Company invests in only U.S. Treasury securities that management believes protects the Company from risk of default and impairment of value.</span></div><div style="margin-top:6pt;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 is highly dependent on a limited number of contract manufacturing organizations (“CMOs”) to supply drug products for its research and development activities of its programs, including clinical trials and non-clinical studies. These programs could be adversely affected by a significant interruption in the supply of such drug products. </span></div>The Company is highly dependent on a limited number of contract research organizations (“CROs”) and third-party service providers to manage and support its clinical trials. These programs could be adversely affected by a significant disruption in services provided by these CROs and third parties. | ||
| CY2022Q4 | sttk |
Accrued Research And Contract Costs Current
AccruedResearchAndContractCostsCurrent
|
11256000 | usd |
| us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
200000 | usd | |
| CY2023Q3 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
200000 | usd |
| CY2022Q3 | us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
400000 | usd |
| us-gaap |
Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
|
800000 | usd | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6013294 | shares | |
| us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4369244 | shares | |
| CY2023Q3 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
60435000 | usd |
| CY2023Q3 | us-gaap |
Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
|
7000 | usd |
| CY2023Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
60442000 | usd |
| CY2022Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
114778000 | usd |
| CY2022Q4 | us-gaap |
Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
|
-877000 | usd |
| CY2022Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
113901000 | usd |
| CY2023Q3 | us-gaap |
Debt Securities Available For Sale Term
DebtSecuritiesAvailableForSaleTerm
|
P0Y1M9D | |
| CY2023Q3 | sttk |
Accrued Research And Contract Costs Current
AccruedResearchAndContractCostsCurrent
|
6510000 | usd |
| CY2023Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
771000 | usd |
| CY2022Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
701000 | usd |
| CY2023Q3 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
557000 | usd |
| CY2022Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
0 | usd |
| CY2023Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
224000 | usd |
| CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
471000 | usd |
| CY2023Q3 | us-gaap |
Litigation Reserve Current
LitigationReserveCurrent
|
0 | usd |
| CY2022Q4 | us-gaap |
Litigation Reserve Current
LitigationReserveCurrent
|
1400000 | usd |
| CY2023Q3 | sttk |
Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
|
12043000 | usd |
| CY2022Q4 | sttk |
Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
|
17795000 | usd |
| CY2023Q3 | sttk |
License Agreement Royalty Payments Maximum
LicenseAgreementRoyaltyPaymentsMaximum
|
20600000 | usd |
| us-gaap |
Payments For Royalties
PaymentsForRoyalties
|
100000 | usd | |
| CY2023Q3 | us-gaap |
Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
|
0 | usd |
| CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
300000000 | shares |
| CY2023Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
| CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2023Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2023Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
| CY2023Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1764000 | usd |
| CY2022Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1723000 | usd |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
5299000 | usd | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4769000 | usd | |
| CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4209255 | shares |
| CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
8.29 | |
| CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y25D | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1462535 | shares | |
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
3.41 | ||
| us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
11794 | shares | |
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
2.95 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
302479 | shares | |
| us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
7.00 | ||
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
5357517 | shares |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
7.04 | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y2M15D | ||
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
5294379 | shares |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
7.06 | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P7Y2M12D | ||
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
2595439 | shares |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
8.05 | |
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P6Y4M17D | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.50 | ||
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
4.21 | ||
| CY2023Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
10900000 | usd |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
0.0 | usd | |
| us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
100000 | usd | |
| CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
100000 | usd |
| CY2023Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
100000 | usd |
