2019 Form 10-K Financial Statement
#000156459020011144 Filed on March 16, 2020
Income Statement
| Concept | 2019 | 2018 Q4 | 2018 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $20.84M | $3.870M | $11.15M |
| YoY Change | 86.91% | 298.97% | 248.44% |
| % of Gross Profit | |||
| Research & Development | $54.97M | $12.81M | $35.10M |
| YoY Change | 56.64% | 97.99% | 131.02% |
| % of Gross Profit | |||
| Depreciation & Amortization | $850.0K | $180.0K | $380.0K |
| YoY Change | 123.68% | 800.0% | 744.44% |
| % of Gross Profit | |||
| Operating Expenses | $75.81M | $16.68M | $46.24M |
| YoY Change | 63.94% | 124.5% | 151.51% |
| Operating Profit | -$46.24M | ||
| YoY Change | 151.51% | ||
| Interest Expense | $2.840M | $660.0K | $40.00K |
| YoY Change | 7000.0% | -512.5% | -116.0% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $2.844M | $0.00 | -$118.0K |
| YoY Change | -2510.17% | -100.0% | -54.96% |
| Pretax Income | -$72.97M | -$16.02M | -$46.36M |
| YoY Change | 57.4% | 110.79% | 148.58% |
| Income Tax | $0.00 | $0.00 | |
| % Of Pretax Income | |||
| Net Earnings | -$72.97M | -$16.02M | -$46.36M |
| YoY Change | 57.38% | 110.79% | 148.61% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$2.660M | -$668.9K | -$1.947M |
| COMMON SHARES | |||
| Basic Shares Outstanding | 23.96M shares | ||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2019 | 2018 Q4 | 2018 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $187.0M | $126.3M | $126.3M |
| YoY Change | 48.06% | 2005.0% | |
| Cash & Equivalents | $187.0M | $126.3M | $126.3M |
| Short-Term Investments | |||
| Other Short-Term Assets | $6.700M | $795.0K | $2.400M |
| YoY Change | 179.17% | 1225.0% | 500.0% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $195.7M | $130.0M | $130.0M |
| YoY Change | 50.54% | 1961.19% | 1963.49% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $3.700M | $2.634M | $2.600M |
| YoY Change | 42.31% | 654.73% | 766.67% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $1.100M | $825.0K | $800.0K |
| YoY Change | 37.5% | 126.03% | 100.0% |
| Total Long-Term Assets | $4.800M | $3.459M | $3.500M |
| YoY Change | 37.14% | 384.45% | 400.0% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $195.7M | $130.0M | $130.0M |
| Total Long-Term Assets | $4.800M | $3.459M | $3.500M |
| Total Assets | $200.5M | $133.5M | $133.5M |
| YoY Change | 50.19% | 1800.87% | 1807.14% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $3.900M | $2.784M | $2.800M |
| YoY Change | 39.29% | 428.27% | 460.0% |
| Accrued Expenses | $3.000M | $7.822M | $2.600M |
| YoY Change | 15.38% | 272.83% | 225.0% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $14.00M | $10.61M | $10.60M |
| YoY Change | 32.08% | 304.04% | 307.69% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $500.0K | $700.0K | $700.0K |
| YoY Change | -28.57% | 40.0% | -30.0% |
| Total Long-Term Liabilities | $500.0K | $700.0K | $700.0K |
| YoY Change | -28.57% | 40.0% | -30.0% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $14.00M | $10.61M | $10.60M |
| Total Long-Term Liabilities | $500.0K | $700.0K | $700.0K |
| Total Liabilities | $14.50M | $11.30M | $11.30M |
| YoY Change | 28.32% | 208.86% | 205.41% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$71.74M | ||
| YoY Change | 205.61% | ||
| Common Stock | $193.9M | ||
| YoY Change | 57104.42% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $186.0M | $122.2M | $122.2M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $200.5M | $133.5M | $133.5M |
| YoY Change | 50.19% | 1800.87% | 1807.14% |
Cashflow Statement
| Concept | 2019 | 2018 Q4 | 2018 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$72.97M | -$16.02M | -$46.36M |
| YoY Change | 57.38% | 110.79% | 148.61% |
| Depreciation, Depletion And Amortization | $850.0K | $180.0K | $380.0K |
| YoY Change | 123.68% | 800.0% | 744.44% |
| Cash From Operating Activities | -$67.67M | -$11.44M | -$37.65M |
| YoY Change | 79.74% | 29.71% | 129.81% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $1.585M | -$490.0K | $1.832M |
| YoY Change | -13.48% | 512.5% | 378.33% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | -$1.585M | -$230.0K | -$1.832M |
| YoY Change | -13.48% | 187.5% | 378.33% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $129.5M | $104.0M | |
| YoY Change | 24.47% | ||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 130.0M | -140.0K | 160.3M |
| YoY Change | -18.9% | -101.0% | 822.73% |
| NET CHANGE | |||
| Cash From Operating Activities | -67.67M | -11.44M | -37.65M |
| Cash From Investing Activities | -1.585M | -230.0K | -1.832M |
| Cash From Financing Activities | 130.0M | -140.0K | 160.3M |
| Net Change In Cash | 60.74M | -11.81M | 120.8M |
| YoY Change | -49.72% | -332.94% | 19835.15% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$67.67M | -$11.44M | -$37.65M |
| Capital Expenditures | $1.585M | -$490.0K | $1.832M |
| Free Cash Flow | -$69.25M | -$10.95M | -$39.48M |
| YoY Change | 75.41% | 25.29% | 135.49% |
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NatureOfOperations
|
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of the Business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.86%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">AVROBIO, Inc. (the “Company” or “AVROBIO”) is a clinical-stage gene therapy company focused on developing potentially curative <font style="font-style:italic;">ex vivo</font> lentiviral gene therapies to treat rare diseases following a single dose treatment regimen. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.86%;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 risks and uncertainties common to early-stage companies in the biotechnology industry, including but not limited to, risks associated with completing preclinical studies and clinical trials, receiving regulatory approvals for product candidates, development by competitors of new biopharmaceutical products, dependence on key personnel, protection of proprietary technology, compliance with government regulations and the ability to secure additional capital to fund operations. Product candidates currently under development will require significant additional research and development efforts, including preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of additional capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize revenue from product sales. <font style="font-size:12pt;"> </font> <font style="font-size:12pt;">      </font> <font style="font-size:12pt;">      </font> <font style="font-size:12pt;"> </font></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.86%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Through December 31, 2019, the Company has funded its operations primarily with proceeds from the sale of Seed redeemable convertible preferred stock (the “Series Seed Preferred Stock”), series A redeemable convertible preferred stock (the “Series A Preferred Stock”) and series B redeemable convertible preferred stock (the “Series B Preferred Stock”), (the Series Seed Preferred Stock, the Series A Preferred Stock and the Series B Preferred Stock are collectively referred to as the “Preferred Stock”) and common stock through the Company’s initial public offering (“IPO”). The Company has incurred recurring losses since its inception, including net losses of $72,965 and $46,361 for the years ended December 31, 2019 and 2018, respectively. In addition, as of December 31, 2019, the Company had an accumulated deficit of $144,704. Although the Company has incurred recurring losses and expects to continue to incur losses for the foreseeable future, the Company expects that its existing cash and cash equivalents on hand as of December 31, 2019 of $187,043, together with net proceeds from the follow on public offering completed in February 2020 (“the February 2020 Follow-On Offering”) (see Note 17) will be sufficient to fund current planned operations and capital expenditure requirements for at least the next twelve months from the filing date of this Annual Report on Form 10-K with the SEC. However, the future viability of the Company is dependent on its ability to raise additional capital to finance its operations. The Company’s inability to raise capital as and when needed could have a negative impact on its financial condition and ability to pursue its business strategies. There can be no assurance that the current operating plan will be achieved or that additional funding will be available on terms acceptable to the Company, or at all. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.86%;font-size:9pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.86%;font-size:9pt;"> </p> | |
| CY2019 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.85%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.86%;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 GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual for research and development expenses, stock-based compensation expense, the valuation of equity and derivative instruments and the recoverability of the Company’s net deferred tax assets and related valuation allowance. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ materially from those estimates. </p> | |
| CY2019 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.85%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentrations of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.86%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has no significant off-balance sheet risk, such as foreign exchange contracts, option contracts, or other foreign hedging arrangements. Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and restricted cash. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company deposits its cash and cash equivalents in financial institutions that it believes have high credit quality and has not experienced any losses on such accounts and does not believe it is exposed to any unusual credit risk beyond the normal credit risk associated with commercial banking relationships. </p> | |
| CY2018Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
795000 | |
| CY2018Q4 | avro |
Prepaid Research And Development Costs Current
PrepaidResearchAndDevelopmentCostsCurrent
|
981000 | |
| CY2019Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
897000 | |
| CY2018Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
316000 | |
| CY2019Q4 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
224000 | |
| CY2018Q4 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
220000 | |
| CY2019Q4 | us-gaap |
Prepaid Rent
PrepaidRent
|
86000 | |
| CY2018Q4 | us-gaap |
Prepaid Rent
PrepaidRent
|
81000 | |
| CY2019Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
620000 | |
| CY2019Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
492000 | |
| CY2018Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
492000 | |
| CY2019 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
133000000 | |
| CY2018 | us-gaap |
Payment Of Financing And Stock Issuance Costs
PaymentOfFinancingAndStockIssuanceCosts
|
0 | |
| CY2019 | us-gaap |
Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
|
0 | |
| CY2019 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
| CY2019 | avro |
Foreign Exchange Loss
ForeignExchangeLoss
|
90000 | |
| CY2018 | avro |
Foreign Exchange Loss
ForeignExchangeLoss
|
51000 | |
| CY2019Q4 | avro |
Fair Value Input Amount Transfer Between Levels
FairValueInputAmountTransferBetweenLevels
|
0 | |
| CY2018Q4 | avro |
Fair Value Input Amount Transfer Between Levels
FairValueInputAmountTransferBetweenLevels
|
0 | |
| CY2019Q4 | avro |
Tax Incentive Refund Current
TaxIncentiveRefundCurrent
|
1916000 | |
| CY2018Q4 | avro |
Tax Incentive Refund Current
TaxIncentiveRefundCurrent
|
1325000 | |
| CY2019Q4 | avro |
Prepaid Research And Development Costs Current
PrepaidResearchAndDevelopmentCostsCurrent
|
4915000 | |
| CY2019Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
4930000 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
123023 | |
| CY2019 | avro |
Tax Credit Carryforwards Expiration Period
TaxCreditCarryforwardsExpirationPeriod
|
P20Y | |
| CY2019 | us-gaap |
Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
|
250000 | |
| CY2018Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
3018000 | |
| CY2019Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1234000 | |
| CY2018Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
384000 | |
| CY2019 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
850000 | |
| CY2018 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
380000 | |
| CY2019Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3028000 | |
| CY2018Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2616000 | |
| CY2019Q4 | avro |
Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
|
5794000 | |
| CY2018Q4 | avro |
Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
|
3969000 | |
| CY2019Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
917000 | |
| CY2018Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
320000 | |
| CY2019Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
329000 | |
| CY2018Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
917000 | |
| CY2017Q2 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
10000000 | |
| CY2019 | us-gaap |
Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
|
2018-10-31 | |
| CY2018Q3 | avro |
Exercisable Warrants To Purchase Common Stock
ExercisableWarrantsToPurchaseCommonStock
|
6850 | |
| CY2018Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
6091 | |
| CY2019Q4 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
63491857 | |
| CY2019Q4 | us-gaap |
Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
|
0.0001 | |
| CY2019Q4 | avro |
Undesignated Preferred Stock
UndesignatedPreferredStock
|
10000 | |
| CY2018Q4 | avro |
Undesignated Preferred Stock
UndesignatedPreferredStock
|
10000 | |
| CY2019Q4 | avro |
Undesignated Shares Of Preferred Stock Outstanding
UndesignatedSharesOfPreferredStockOutstanding
|
0 | |
| CY2018Q4 | avro |
Undesignated Shares Of Preferred Stock Outstanding
UndesignatedSharesOfPreferredStockOutstanding
|
0 | |
| CY2019 | us-gaap |
Dividends Cash
DividendsCash
|
0 | |
| CY2019 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y7M13D | |
| CY2018 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P6Y21D | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0209 | |
| CY2018 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0274 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.7683 | |
| CY2018 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.8160 | |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
2164101 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
1667967 | |
| CY2019 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
236483 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
181140 | |
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
977229 | |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
7.75 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
16.50 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
2.12 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
14.13 | |
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
5.69 | |
| CY2018 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y9M7D | |
| CY2019 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y5M4D | |
| CY2019 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y3M3D | |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
23083000 | |
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
29353000 | |
| CY2019Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
14702000 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
3514000 | |
| CY2018 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
410000 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
11.61 | |
| CY2018 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
10.91 | |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
153275 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
2300 | |
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
32552 | |
| CY2018Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
0.42 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
15.65 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
|
0.42 | |
| CY2018 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
|
52000 | |
| CY2019 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
6800000 | |
| CY2018 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2196000 | |
| CY2019Q4 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
22878000 | |
| CY2019 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P3Y1M20D | |
| CY2019Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
1.50 | |
| CY2019 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Total Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue
|
50000 | |
| CY2019 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | |
| CY2018 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
0 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
| CY2018 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.052 | |
| CY2018 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.052 | |
| CY2019 | avro |
Effective Income Tax Rate Reconciliation Permanent Difference
EffectiveIncomeTaxRateReconciliationPermanentDifference
|
-0.009 | |
| CY2018 | avro |
Effective Income Tax Rate Reconciliation Permanent Difference
EffectiveIncomeTaxRateReconciliationPermanentDifference
|
-0.008 | |
| CY2019 | avro |
Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act2017 Percent
EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsAct2017Percent
|
0.000 | |
| CY2018 | avro |
Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act2017 Percent
EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsAct2017Percent
|
0.000 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.002 | |
| CY2018 | us-gaap |
Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
|
0.002 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.021 | |
| CY2018 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.011 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.276 | |
| CY2018 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.265 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
|
0.000 | |
| CY2018 | us-gaap |
Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
|
-0.002 | |
| CY2019 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.000 | |
| CY2018 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
33594000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
15815000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
1716000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
|
454000 | |
| CY2019Q4 | avro |
Deferred Tax Assets Capitalized Start Up And Organizational Costs
DeferredTaxAssetsCapitalizedStartUpAndOrganizationalCosts
|
32000 | |
| CY2018Q4 | avro |
Deferred Tax Assets Capitalized Start Up And Organizational Costs
DeferredTaxAssetsCapitalizedStartUpAndOrganizationalCosts
|
35000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
543000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
185000 | |
| CY2019Q4 | avro |
Deferred Tax Assets License Agreement
DeferredTaxAssetsLicenseAgreement
|
1756000 | |
| CY2018Q4 | avro |
Deferred Tax Assets License Agreement
DeferredTaxAssetsLicenseAgreement
|
1258000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
|
993000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
|
948000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
38634000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
18695000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
38425000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
18457000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
209000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
238000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
209000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
238000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
0 | |
| CY2018Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
0 | |
| CY2019 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
19968000 | |
| CY2018 | us-gaap |
Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
11991000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
121836000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
|
57279000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Not Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsNotSubjectToExpiration
|
104093000 | |
| CY2019Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
|
2440000 | |
| CY2018Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
|
1201000 | |
| CY2019Q4 | avro |
Payroll Tax Liability Capped Per Year
PayrollTaxLiabilityCappedPerYear
|
250000 | |
| CY2019 | avro |
Operating Loss And Tax Credit Carryforwards Limitations Threshold Percentage Of Cumulative Changes In Ownership Interest Of Significant Shareholders Considered
OperatingLossAndTaxCreditCarryforwardsLimitationsThresholdPercentageOfCumulativeChangesInOwnershipInterestOfSignificantShareholdersConsidered
|
0.50 | |
| CY2019 | avro |
Operating Loss And Tax Credit Carryforwards Limitations Period Over Which Cumulative Changes In Ownership Interest Of Significant Shareholders Considered
OperatingLossAndTaxCreditCarryforwardsLimitationsPeriodOverWhichCumulativeChangesInOwnershipInterestOfSignificantShareholdersConsidered
|
P3Y | |
| CY2018Q1 | us-gaap |
Lease Expiration Date1
LeaseExpirationDate1
|
2023-01-31 | |
| CY2018Q1 | avro |
Operating Lease Annual Increase In Rental Percentage
OperatingLeaseAnnualIncreaseInRentalPercentage
|
0.03 | |
| CY2018Q1 | us-gaap |
Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
|
842000 | |
| CY2019Q4 | us-gaap |
Security Deposit
SecurityDeposit
|
209000 | |
| CY2018Q4 | us-gaap |
Security Deposit
SecurityDeposit
|
209000 | |
| CY2019 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
2257000 | |
| CY2018 | us-gaap |
Lease And Rental Expense
LeaseAndRentalExpense
|
1295000 | |
| CY2019Q4 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
1563000 | |
| CY2019Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
705000 | |
| CY2019Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
726000 | |
| CY2019Q4 | us-gaap |
Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
|
61000 | |
| CY2019Q4 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
3055000 | |
| CY2018Q3 | us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
|
0.03 | |
| CY2019 | avro |
Defined Contribution Plan Employer Contribution Amount
DefinedContributionPlanEmployerContributionAmount
|
224000 | |
| CY2018 | avro |
Defined Contribution Plan Employer Contribution Amount
DefinedContributionPlanEmployerContributionAmount
|
35000 |
