$SYRS
Syros Pharmaceuticals, Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019042566 Filed on November 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q1 2018 Q4
Revenue $558.0K $454.0K $893.0K
YoY Change 35.44% 22.7%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.020M $4.870M $4.370M
YoY Change 29.38% 19.36% 16.84%
% of Gross Profit
Research & Development $15.93M $12.56M $15.13M
YoY Change 23.92% 13.01% 28.42%
% of Gross Profit
Depreciation & Amortization $640.0K $517.0K $430.0K
YoY Change 56.1% 33.25% 10.26%
% of Gross Profit
Operating Expenses $20.95M $17.43M $19.50M
YoY Change 25.19% 14.72% 25.64%
Operating Profit -$20.39M -$16.97M -$18.61M
YoY Change 24.93% 14.52% 19.89%
Interest Expense $21.00K $8.000K
YoY Change
% of Operating Profit
Other Income/Expense, Net $596.0K $512.0K $575.0K
YoY Change 2.23% 43.02% 163.76%
Pretax Income -$19.79M -$16.46M -$18.03M
YoY Change 25.73% 13.83% 17.84%
Income Tax
% Of Pretax Income
Net Earnings -$19.79M -$16.46M -$18.03M
YoY Change 25.77% 13.81% 17.84%
Net Earnings / Revenue -3547.13% -3625.77% -2019.04%
Basic Earnings Per Share
Diluted Earnings Per Share -$466.3K -$487.4K -$534.9K
COMMON SHARES
Basic Shares Outstanding 32.77M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q1 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $108.1M $75.90M $99.70M
YoY Change -4.51% -37.63% 38.47%
Cash & Equivalents $33.36M $22.13M $49.89M
Short-Term Investments $74.80M $53.70M $49.80M
Other Short-Term Assets $2.800M $1.900M $2.000M
YoY Change 21.74% 18.75% 81.82%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $111.0M $77.76M $101.7M
YoY Change -3.9% -36.98% 39.06%
LONG-TERM ASSETS
Property, Plant & Equipment $28.50M $3.897M $3.861M
YoY Change 630.77% 8.25% -1.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.300M $1.103M $881.0K
YoY Change 258.33% -8.08% -19.98%
Total Long-Term Assets $32.83M $10.67M $5.032M
YoY Change 543.75% 126.91% -5.57%
TOTAL ASSETS
Total Short-Term Assets $111.0M $77.76M $101.7M
Total Long-Term Assets $32.83M $10.67M $5.032M
Total Assets $143.8M $88.43M $106.8M
YoY Change 19.26% -30.97% 36.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.043M $2.632M $3.309M
YoY Change 197.89% 54.82% 44.94%
Accrued Expenses $13.20M $10.30M $13.90M
YoY Change 17.86% 14.44% 43.3%
Deferred Revenue $1.100M $1.800M $1.900M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $200.0K $200.0K $0.00
YoY Change
Total Short-Term Liabilities $22.57M $14.98M $19.53M
YoY Change 5.96% -29.68% 57.33%
LONG-TERM LIABILITIES
Long-Term Debt $600.0K $800.0K $0.00
YoY Change
Other Long-Term Liabilities $26.00M $8.700M $8.600M
YoY Change 477.78% 278.26% 1128.57%
Total Long-Term Liabilities $26.60M $9.500M $8.600M
YoY Change 491.11% 313.04% 1128.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.57M $14.98M $19.53M
Total Long-Term Liabilities $26.60M $9.500M $8.600M
Total Liabilities $49.30M $24.40M $28.20M
YoY Change 91.09% 3.39% 113.64%
SHAREHOLDERS EQUITY
Retained Earnings -$273.3M -$234.0M -$217.5M
YoY Change 40.11%
Common Stock $367.8M $298.0M $296.1M
YoY Change 34.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $94.57M $64.02M $78.59M
YoY Change
Total Liabilities & Shareholders Equity $143.8M $88.43M $106.8M
YoY Change 19.26% -30.97% 36.03%

Cashflow Statement

Concept 2019 Q3 2019 Q1 2018 Q4
OPERATING ACTIVITIES
Net Income -$19.79M -$16.46M -$18.03M
YoY Change 25.77% 13.81% 17.84%
Depreciation, Depletion And Amortization $640.0K $517.0K $430.0K
YoY Change 56.1% 33.25% 10.26%
Cash From Operating Activities -$11.22M -$20.33M -$13.82M
YoY Change 11.98% 746.96% 30.75%
INVESTING ACTIVITIES
Capital Expenditures -$2.570M $591.0K -$190.0K
YoY Change 151.96% 288.82% 171.43%
Acquisitions
YoY Change
Other Investing Activities -$54.57M -$3.640M $20.23M
YoY Change -8.29% -129.1%
Cash From Investing Activities -$57.14M -$4.229M $20.04M
YoY Change -5.6% -134.21% -28728.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K -115.0K 130.0K
YoY Change -103.03% -100.22% -81.16%
NET CHANGE
Cash From Operating Activities -11.22M -20.33M -13.82M
Cash From Investing Activities -57.14M -4.229M 20.04M
Cash From Financing Activities -10.00K -115.0K 130.0K
Net Change In Cash -68.37M -24.67M 6.350M
YoY Change -2.63% -139.71% -163.82%
FREE CASH FLOW
Cash From Operating Activities -$11.22M -$20.33M -$13.82M
Capital Expenditures -$2.570M $591.0K -$190.0K
Free Cash Flow -$8.650M -$20.92M -$13.63M
YoY Change -3.89% 719.67% 29.81%

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<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;">&nbsp;</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,&#160;Inc. (the "Company"), a Delaware corporation formed in November 2011, is a biopharmaceutical company&#160;seeking to redefine the power of small molecules to control the expression of genes by elucidating regulatory regions of the genome.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:7.42%;font-family:Times New Roman;font-size:11pt;">&nbsp;</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;">&nbsp;</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&#8217;s net losses were $62.3 million, $54.0&#160;million and $47.7 million for the years ended December&#160;31, 2018, 2017 and 2016, respectively. As of September&#160;30,&#160;2019, the Company had an accumulated deficit of $273.3&#160;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&#8217;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&#8217;s stockholders' equity and working&#160;capital.&#160;<font style="color:#000000;">The Company believes that its cash, cash equivalents and marketable securities of $108.1 million as of </font>September&#160;30,&#160;2019<font style="color:#000000;"> 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>
CY2017 us-gaap Net Income Loss
NetIncomeLoss
-54000000
CY2016 us-gaap Net Income Loss
NetIncomeLoss
-47700000
CY2019Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
108100000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1200000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3711150
CY2019Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8728000
CY2019Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1100000
CY2018Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
10202000
syrs Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
0
syrs Contract With Customer Liability Deductions
ContractWithCustomerLiabilityDeductions
1474000
CY2019Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
108117000
CY2019Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
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21000
CY2019Q3 us-gaap Available For Sale Securities
AvailableForSaleSecurities
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CY2018Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
99682000
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CY2018Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
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us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
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NumberOfInvestmentsAdjustedForOtherThanTemporaryDeclinesInFairValue
0
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10000000
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0
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OtherThanTemporaryImpairmentInvestmentsAvailableForSaleSecuritiesNumberOfSecuritiesHeld
0
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AvailableForSaleSecuritiesInUnrealizedLossPositionsQualitativeDisclosureNumberOfPositionsLessThanOneYear
2
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RestrictedCashAndCashEquivalents
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CashAndCashEquivalentsAtCarryingValue
43524000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
32205000
CY2018Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
638000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
193000
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RestrictedCashAndCashEquivalentsNoncurrent
290000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
290000
CY2019Q3 syrs Accrued External Research And Preclinical Development Expenses
AccruedExternalResearchAndPreclinicalDevelopmentExpenses
7271000
CY2018Q4 syrs Accrued External Research And Preclinical Development Expenses
AccruedExternalResearchAndPreclinicalDevelopmentExpenses
10119000
CY2019Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3323000
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EmployeeRelatedLiabilitiesCurrent
2985000
CY2019Q3 us-gaap Accrued Professional Fees Current
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549000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
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CY2019Q3 us-gaap Accrued Rent Current
AccruedRentCurrent
61000
CY2018Q4 us-gaap Accrued Rent Current
AccruedRentCurrent
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CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
100000
CY2019Q1 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P48M
CY2019Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1000000
CY2019Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
1000000
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OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
358000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
4252000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3824000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3935000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
4049000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
27709000
CY2019Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
44127000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
16648000
CY2019Q3 us-gaap Incentive From Lessor
IncentiveFromLessor
7076000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
20403000
CY2019Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
76000
CY2019Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
304000
CY2019Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
300000
CY2019Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
299000
CY2019Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Five
FinanceLeaseLiabilityPaymentsDueInRollingYearFive
51000
CY2019Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1030000
CY2019Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
151000
CY2019Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
879000
CY2019Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
959000
us-gaap Operating Lease Cost
OperatingLeaseCost
1893000
CY2019Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
61000
CY2019Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
21000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
52000
CY2019Q3 syrs Finance Lease Cost
FinanceLeaseCost
82000
syrs Finance Lease Cost
FinanceLeaseCost
190000
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
330000
us-gaap Operating Lease Payments
OperatingLeasePayments
989000
CY2019Q3 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
76000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
200000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y8M15D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0935
CY2019Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y5M26D
CY2019Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0932
CY2019Q2 syrs Number Of Underwriting Agreements
NumberOfUnderwritingAgreements
2
CY2019Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
70000000
CY2019Q2 syrs Underwriting Discounts And Commissions And Estimated Offering Expenses Payable
UnderwritingDiscountsAndCommissionsAndEstimatedOfferingExpensesPayable
5000000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3732643
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1107000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
7780
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
180613
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4651250
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2085000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.88
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.73
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.48
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
10.02
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.13
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.15
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y9M18D
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1694000
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4591000
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
14100000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0246
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0249
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y10D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9149
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9034
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2389000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1537000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6623000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4977000

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