2019 Q1 Form 10-Q Financial Statement
#000156459019014558 Filed on May 01, 2019
Income Statement
| Concept | 2019 Q1 | 2018 Q1 |
|---|---|---|
| Revenue | $454.0K | $370.0K |
| YoY Change | 22.7% | -66.39% |
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $4.870M | $4.080M |
| YoY Change | 19.36% | 32.04% |
| % of Gross Profit | ||
| Research & Development | $12.56M | $11.12M |
| YoY Change | 13.01% | 15.45% |
| % of Gross Profit | ||
| Depreciation & Amortization | $517.0K | $388.0K |
| YoY Change | 33.25% | 4.86% |
| % of Gross Profit | ||
| Operating Expenses | $17.43M | $15.19M |
| YoY Change | 14.72% | 19.48% |
| Operating Profit | -$16.97M | -$14.82M |
| YoY Change | 14.52% | 27.62% |
| Interest Expense | $8.000K | |
| YoY Change | ||
| % of Operating Profit | ||
| Other Income/Expense, Net | $512.0K | $358.0K |
| YoY Change | 43.02% | 265.31% |
| Pretax Income | -$16.46M | -$14.46M |
| YoY Change | 13.83% | 25.52% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$16.46M | -$14.46M |
| YoY Change | 13.81% | 25.55% |
| Net Earnings / Revenue | -3625.77% | -3908.92% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$487.4K | -$476.6K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 32.77M | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 Q1 | 2018 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $75.90M | $121.7M |
| YoY Change | -37.63% | 72.62% |
| Cash & Equivalents | $22.13M | $94.33M |
| Short-Term Investments | $53.70M | $27.40M |
| Other Short-Term Assets | $1.900M | $1.600M |
| YoY Change | 18.75% | 6.67% |
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $77.76M | $123.4M |
| YoY Change | -36.98% | 70.21% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $3.897M | $3.600M |
| YoY Change | 8.25% | -20.0% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $1.103M | $1.200M |
| YoY Change | -8.08% | 20.0% |
| Total Long-Term Assets | $10.67M | $4.700M |
| YoY Change | 126.91% | -14.55% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $77.76M | $123.4M |
| Total Long-Term Assets | $10.67M | $4.700M |
| Total Assets | $88.43M | $128.1M |
| YoY Change | -30.97% | 64.23% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.632M | $1.700M |
| YoY Change | 54.82% | -29.17% |
| Accrued Expenses | $10.30M | $9.000M |
| YoY Change | 14.44% | 125.0% |
| Deferred Revenue | $1.800M | |
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $200.0K | $0.00 |
| YoY Change | -100.0% | |
| Total Short-Term Liabilities | $14.98M | $21.30M |
| YoY Change | -29.68% | 208.7% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $800.0K | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $8.700M | $2.300M |
| YoY Change | 278.26% | 130.0% |
| Total Long-Term Liabilities | $9.500M | $2.300M |
| YoY Change | 313.04% | 130.0% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $14.98M | $21.30M |
| Total Long-Term Liabilities | $9.500M | $2.300M |
| Total Liabilities | $24.40M | $23.60M |
| YoY Change | 3.39% | 198.73% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$234.0M | |
| YoY Change | ||
| Common Stock | $298.0M | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $64.02M | $104.5M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $88.43M | $128.1M |
| YoY Change | -30.97% | 64.23% |
Cashflow Statement
| Concept | 2019 Q1 | 2018 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$16.46M | -$14.46M |
| YoY Change | 13.81% | 25.55% |
| Depreciation, Depletion And Amortization | $517.0K | $388.0K |
| YoY Change | 33.25% | 4.86% |
| Cash From Operating Activities | -$20.33M | -$2.400M |
| YoY Change | 746.96% | -81.28% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $591.0K | $152.0K |
| YoY Change | 288.82% | -138.0% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | -$3.640M | $12.51M |
| YoY Change | -129.1% | 400.4% |
| Cash From Investing Activities | -$4.229M | $12.36M |
| YoY Change | -134.21% | 488.67% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $51.97M | |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | -115.0K | 52.17M |
| YoY Change | -100.22% | 40028.46% |
| NET CHANGE | ||
| Cash From Operating Activities | -20.33M | -2.400M |
| Cash From Investing Activities | -4.229M | 12.36M |
| Cash From Financing Activities | -115.0K | 52.17M |
| Net Change In Cash | -24.67M | 62.13M |
| YoY Change | -139.71% | -686.68% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$20.33M | -$2.400M |
| Capital Expenditures | $591.0K | $152.0K |
| Free Cash Flow | -$20.92M | -$2.552M |
| YoY Change | 719.67% | -79.45% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2018Q4 | syrs |
Accrued Liabilities And Employee Related Liabilities Current
AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent
|
13893000 | |
| CY2019Q1 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
1848000 | |
| CY2018Q4 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
1926000 | |
| CY2019Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
22129000 | |
| CY2019Q1 | syrs |
Accrued Liabilities And Employee Related Liabilities Current
AccruedLiabilitiesAndEmployeeRelatedLiabilitiesCurrent
|
9086000 | |
| CY2018Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
49886000 | |
| CY2019Q1 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
53737000 | |
| CY2018Q4 | us-gaap |
Marketable Securities Current
MarketableSecuritiesCurrent
|
49793000 | |
| CY2019Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1259000 | |
| CY2018Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1417000 | |
| CY2019Q1 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
638000 | |
| CY2018Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
638000 | |
| CY2019Q1 | us-gaap |
Assets Current
AssetsCurrent
|
77763000 | |
| CY2018Q4 | us-gaap |
Assets Current
AssetsCurrent
|
101734000 | |
| CY2019Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3897000 | |
| CY2018Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3861000 | |
| CY2019Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1103000 | |
| CY2018Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
881000 | |
| CY2019Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
3376000 | |
| CY2018Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
290000 | |
| CY2019Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1308000 | |
| CY2019Q1 | us-gaap |
Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
|
981000 | |
| CY2019Q1 | us-gaap |
Assets
Assets
|
88428000 | |
| CY2018Q4 | us-gaap |
Assets
Assets
|
106766000 | |
| CY2019Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2632000 | |
| CY2018Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
3309000 | |
| CY2018Q4 | syrs |
Incentive From Lessor Current
IncentiveFromLessorCurrent
|
392000 | |
| CY2019Q1 | syrs |
Financing And Capital Lease Obligations Current
FinancingAndCapitalLeaseObligationsCurrent
|
221000 | |
| CY2018Q4 | syrs |
Financing And Capital Lease Obligations Current
FinancingAndCapitalLeaseObligationsCurrent
|
9000 | |
| CY2019Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1192000 | |
| CY2019Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
14979000 | |
| CY2018Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
19529000 | |
| CY2018Q4 | us-gaap |
Incentive From Lessor
IncentiveFromLessor
|
353000 | |
| CY2019Q1 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
7900000 | |
| CY2018Q4 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
8276000 | |
| CY2019Q1 | syrs |
Financing And Capital Lease Obligations Noncurrent
FinancingAndCapitalLeaseObligationsNoncurrent
|
766000 | |
| CY2018Q4 | syrs |
Financing And Capital Lease Obligations Noncurrent
FinancingAndCapitalLeaseObligationsNoncurrent
|
22000 | |
| CY2019Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
765000 | |
| CY2019Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2019Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
||
| CY2019Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
34000 | |
| CY2019Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
297982000 | |
| CY2019Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
8000 | |
| CY2019Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-234006000 | |
| CY2019Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
64018000 | |
| CY2019Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
88428000 | |
| CY2019Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2019Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
| CY2019Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | |
| CY2019Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | |
| CY2019Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2019Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
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| CY2019Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
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| CY2019Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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| CY2019Q1 | us-gaap |
Revenues
Revenues
|
454000 | |
| CY2019Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
12562000 | |
| CY2018Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
11116000 | |
| CY2019Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4865000 | |
| CY2018Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4075000 | |
| CY2019Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
17427000 | |
| CY2018Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
15191000 | |
| CY2019Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-16973000 | |
| CY2018Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-14821000 | |
| CY2019Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
512000 | |
| CY2018Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
358000 | |
| CY2019Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-16461000 | |
| CY2018Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-14463000 | |
| CY2019Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.49 | |
| CY2018Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.48 | |
| CY2019Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
33766333 | |
| CY2018Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
30335164 | |
| CY2019Q1 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
11000 | |
| CY2018Q1 | us-gaap |
Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
|
8000 | |
| CY2019Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-16450000 | |
| CY2018Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-14455000 | |
| CY2017Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
65324000 | |
| CY2018Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
242000 | |
| CY2018Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1696000 | |
| CY2019Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
3000 | |
| CY2019Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1879000 | |
| CY2019Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-16461000 | |
| CY2018Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-14463000 | |
| CY2019Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
517000 | |
| CY2018Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
388000 | |
| CY2019Q1 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
15000 | |
| CY2019Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-1000 | |
| CY2019Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1879000 | |
| CY2016 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-47700000 | |
| CY2018Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1696000 | |
| CY2019Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
296000 | |
| CY2018Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
69000 | |
| CY2019Q1 | syrs |
Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
|
-158000 | |
| CY2018Q1 | syrs |
Increase Decrease In Prepaid Expense And Other Current Assets
IncreaseDecreaseInPrepaidExpenseAndOtherCurrentAssets
|
519000 | |
| CY2019Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
14000 | |
| CY2018Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-3000 | |
| CY2019Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-610000 | |
| CY2018Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-562000 | |
| CY2019Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-4966000 | |
| CY2018Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-669000 | |
| CY2019Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-454000 | |
| CY2018Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
11882000 | |
| CY2019Q1 | syrs |
Increase Decrease In Operating Lease Asset And Liabilities
IncreaseDecreaseInOperatingLeaseAssetAndLiabilities
|
96000 | |
| CY2018Q1 | syrs |
Increase Decrease In Deferred Rent And Lease Incentive
IncreaseDecreaseInDeferredRentAndLeaseIncentive
|
-87000 | |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-20327000 | |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2400000 | |
| CY2019Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
591000 | |
| CY2018Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
152000 | |
| CY2019Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
33638000 | |
| CY2018Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
2486000 | |
| CY2019Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
30000000 | |
| CY2018Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
15000000 | |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-4229000 | |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
12362000 | |
| CY2019Q1 | us-gaap |
Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
|
40000 | |
| CY2018Q1 | us-gaap |
Repayments Of Debt And Capital Lease Obligations
RepaymentsOfDebtAndCapitalLeaseObligations
|
44000 | |
| CY2019Q1 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
3000 | |
| CY2018Q1 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
242000 | |
| CY2018Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
51969000 | |
| CY2019Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
78000 | |
| CY2019Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-115000 | |
| CY2018Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
52167000 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-24671000 | |
| CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
62129000 | |
| CY2018Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
50814000 | |
| CY2017Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
32688000 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
26143000 | |
| CY2018Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
94817000 | |
| CY2019Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
8000 | |
| CY2018Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
1000 | |
| CY2019Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
230000 | |
| CY2018Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
6000 | |
| CY2019Q1 | syrs |
Finance Lease Obligations Incurred
FinanceLeaseObligationsIncurred
|
996000 | |
| CY2019Q1 | syrs |
Offering Cost Incurred But Not Yet Paid
OfferingCostIncurredButNotYetPaid
|
129000 | |
| CY2018Q1 | syrs |
Offering Cost Incurred But Not Yet Paid
OfferingCostIncurredButNotYetPaid
|
67000 | |
| CY2019Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><a name="N1_NATURE_BUSINESS"></a><a name="N1_NATURE_BUSINESS"></a>1. Nature of Business</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Syros Pharmaceuticals, Inc. (the "Company"), a Delaware corporation formed in November 2011, is a biopharmaceutical company pioneering an understanding of the non-coding regulatory region of the genome to advance a new wave of medicines that control the expression of genes.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to a number of risks similar to those of other early stage companies, including dependence on key individuals; risks inherent in the development and commercialization of medicines to treat human disease; competition from other companies, many of which are larger and better capitalized; risks relating to obtaining and maintaining necessary intellectual property protection; and the need to obtain adequate additional financing to fund the development of its product candidates and discovery activities. If the Company is unable to raise capital when needed or on favorable terms, it would be forced to delay, reduce, eliminate or out-license certain of its research and development programs or future commercialization rights to its product candidates.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has incurred significant annual net operating losses in every year since its inception. It expects to continue to incur significant and increasing net operating losses for at least the next several years. The Company’s net losses were $62.3 million, $54.0 million and $47.7 million for the years ended December 31, 2018, 2017 and 2016, respectively. As of March 31, 2019, the Company had an accumulated deficit of $234.0 million. The Company has not generated any revenues from product sales, has not completed the development of any product candidate and may never have a product candidate approved for commercialization. The Company has financed its operations to date primarily through the sale of equity securities. The Company has devoted substantially all of its financial resources and efforts to research and development and general and administrative expense to support such research and development. The Company’s net losses may fluctuate significantly from quarter to quarter and year to year. Net losses and negative cash flows have had, and will continue to have, an adverse effect on the Company’s stockholders' equity and working capital. In April 2019, the Company raised $70.0 million in gross proceeds from issuance of equity securities in two concurrent public offerings (See Note 10). <font style="color:#000000;">The Company believes that its cash, cash equivalents and marketable securities of $75.9 million as of </font>March 31, 2019,<font style="color:#000000;"> and the $70.0 million of gross proceeds raised in the April 2019 public offerings, will be sufficient to allow the Company to fund its current operating plan for a period of at least 12 months past the issuance date of these unaudited interim condensed consolidated financial statements</font>. </p> | |
| CY2019Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:10pt;text-indent:7.42%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Management considers many factors in selecting appropriate financial accounting policies and in developing the estimates and assumptions that are used in the preparation of the financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, which include, but are not limited to, expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates and whether historical trends are expected to be representative of future trends. Management’s estimation process often may yield a range of potentially reasonable estimates and management must select an amount that falls within that range of reasonable estimates. On an ongoing basis, the Company’s management evaluates its estimates, which include, but are not limited to, estimates related to revenue recognition, stock-based compensation expense, accrued expenses and income taxes. Actual results may differ from those estimates or assumptions.</p> | |
| CY2018 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-62300000 | |
| CY2017 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-54000000 | |
| CY2019Q1 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
75900000 | |
| CY2019Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
| CY2019Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
500000 | |
| CY2018Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
400000 | |
| CY2019Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
5695219 | |
| CY2018Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
3753025 | |
| CY2019Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
9748000 | |
| CY2019Q1 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
1800000 | |
| CY2018Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
10202000 | |
| CY2019Q1 | syrs |
Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
|
0 | |
| CY2019Q1 | syrs |
Contract With Customer Liability Deductions
ContractWithCustomerLiabilityDeductions
|
454000 | |
| CY2019Q1 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
75858000 | |
| CY2019Q1 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
8000 | |
| CY2019Q1 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
75866000 | |
| CY2018Q4 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
99682000 | |
| CY2018Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
3000 | |
| CY2018Q4 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
99679000 | |
| CY2019Q1 | us-gaap |
Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
|
0 | |
| CY2019Q1 | syrs |
Number Of Investments Adjusted For Other Than Temporary Declines In Fair Value
NumberOfInvestmentsAdjustedForOtherThanTemporaryDeclinesInFairValue
|
0 | |
| CY2019Q1 | us-gaap |
Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than One Year
AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear
|
0 | |
| CY2019Q1 | syrs |
Other Than Temporary Impairment Investments Available For Sale Securities Number Of Securities Held
OtherThanTemporaryImpairmentInvestmentsAvailableForSaleSecuritiesNumberOfSecuritiesHeld
|
0 | |
| CY2019Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
4000000 | |
| CY2018Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
900000 | |
| CY2018Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
94334000 | |
| CY2017Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
32205000 | |
| CY2018Q1 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
193000 | |
| CY2017Q4 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
193000 | |
| CY2018Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
290000 | |
| CY2017Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
290000 | |
| CY2019Q1 | syrs |
Accrued External Research And Preclinical Development Expenses
AccruedExternalResearchAndPreclinicalDevelopmentExpenses
|
6782000 | |
| CY2018Q4 | syrs |
Accrued External Research And Preclinical Development Expenses
AccruedExternalResearchAndPreclinicalDevelopmentExpenses
|
10119000 | |
| CY2019Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1331000 | |
| CY2018Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2985000 | |
| CY2019Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
787000 | |
| CY2018Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
618000 | |
| CY2019Q1 | us-gaap |
Accrued Rent Current
AccruedRentCurrent
|
186000 | |
| CY2018Q4 | us-gaap |
Accrued Rent Current
AccruedRentCurrent
|
171000 | |
| CY2019Q1 | us-gaap |
Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
|
P48M | |
| CY2019Q1 | us-gaap |
Finance Lease Liability
FinanceLeaseLiability
|
987000 | |
| CY2019Q1 | us-gaap |
Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
|
995000 | |
| CY2019Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
1130000 | |
| CY2018 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P7Y10M24D | |
| CY2019Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y2M12D | |
| CY2019Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y | |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
1694000 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
6335000 | |
| CY2019Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
3362000 | |
| CY2019Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
18600000 | |
| CY2019Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y1M6D | |
| CY2019Q1 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
2125000 | |
| CY2019Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
168000 | |
| CY2019Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1957000 | |
| CY2019Q1 | us-gaap |
Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
|
228000 | |
| CY2019Q1 | us-gaap |
Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
|
304000 | |
| CY2019Q1 | us-gaap |
Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
|
300000 | |
| CY2019Q1 | us-gaap |
Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
|
299000 | |
| CY2019Q1 | us-gaap |
Finance Lease Liability Payments Due In Rolling Year Five
FinanceLeaseLiabilityPaymentsDueInRollingYearFive
|
51000 | |
| CY2019Q1 | us-gaap |
Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
|
1182000 | |
| CY2019Q1 | us-gaap |
Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
|
195000 | |
| CY2019Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
54000 | |
| CY2019Q1 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
8000 | |
| CY2019Q1 | syrs |
Finance Lease Cost
FinanceLeaseCost
|
23000 | |
| CY2019Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
330000 | |
| CY2019Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P1Y6M | |
| CY2019Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.100 | |
| CY2019Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
48000 | |
| CY2019Q1 | us-gaap |
Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
|
P4Y | |
| CY2019Q1 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.0947 | |
| CY2019Q1 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
200000 | |
| CY2018Q1 | us-gaap |
Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
|
200000 | |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3732643 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
953800 | |
| CY2019Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
1077 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
68971 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
4616395 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1726979 | |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
9.88 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
6.78 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
2.86 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
11.71 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
9.21 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
8.82 | |
| CY2018Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
700000 | |
| CY2019Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
4800 | |
| CY2019Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1879000 | |
| CY2018Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1696000 |
