2021 Q1 Form 10-Q Financial Statement
#000156459021027586 Filed on May 13, 2021
Income Statement
| Concept | 2021 Q1 | 2020 Q1 |
|---|---|---|
| Revenue | $7.000M | $399.0K |
| YoY Change | 1654.39% | |
| Cost Of Revenue | $0.00 | |
| YoY Change | ||
| Gross Profit | $7.000M | |
| YoY Change | ||
| Gross Profit Margin | 100.0% | |
| Selling, General & Admin | $7.327M | $2.080M |
| YoY Change | 252.26% | |
| % of Gross Profit | 104.67% | |
| Research & Development | $60.19M | $5.714M |
| YoY Change | 953.43% | |
| % of Gross Profit | 859.9% | |
| Depreciation & Amortization | $220.0K | $185.0K |
| YoY Change | 18.92% | |
| % of Gross Profit | 3.14% | |
| Operating Expenses | $67.52M | $7.794M |
| YoY Change | 766.31% | |
| Operating Profit | -$60.52M | -$7.395M |
| YoY Change | 718.39% | |
| Interest Expense | ||
| YoY Change | ||
| % of Operating Profit | ||
| Other Income/Expense, Net | $28.00K | $21.00K |
| YoY Change | 33.33% | |
| Pretax Income | -$60.49M | -$7.374M |
| YoY Change | 720.31% | |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$60.49M | -$7.374M |
| YoY Change | 720.34% | |
| Net Earnings / Revenue | -864.17% | -1848.12% |
| Basic Earnings Per Share | ||
| Diluted Earnings Per Share | -$2.576M | -$314.1K |
| COMMON SHARES | ||
| Basic Shares Outstanding | ||
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2021 Q1 | 2020 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $348.0M | |
| YoY Change | ||
| Cash & Equivalents | $348.0M | $15.91M |
| Short-Term Investments | ||
| Other Short-Term Assets | $43.40M | |
| YoY Change | ||
| Inventory | ||
| Prepaid Expenses | ||
| Receivables | $0.00 | |
| Other Receivables | $0.00 | |
| Total Short-Term Assets | $391.3M | |
| YoY Change | ||
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $10.10M | |
| YoY Change | ||
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $1.700M | |
| YoY Change | ||
| Total Long-Term Assets | $11.90M | |
| YoY Change | ||
| TOTAL ASSETS | ||
| Total Short-Term Assets | $391.3M | |
| Total Long-Term Assets | $11.90M | |
| Total Assets | $403.2M | |
| YoY Change | ||
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $10.80M | |
| YoY Change | ||
| Accrued Expenses | $35.20M | |
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $46.80M | |
| YoY Change | ||
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | |
| YoY Change | ||
| Other Long-Term Liabilities | ||
| YoY Change | ||
| Total Long-Term Liabilities | $0.00 | |
| YoY Change | ||
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $46.80M | |
| Total Long-Term Liabilities | $0.00 | |
| Total Liabilities | $46.80M | |
| YoY Change | ||
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$233.4M | |
| YoY Change | ||
| Common Stock | $589.7M | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $356.3M | -$27.83M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $403.2M | |
| YoY Change |
Cashflow Statement
| Concept | 2021 Q1 | 2020 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$60.49M | -$7.374M |
| YoY Change | 720.34% | |
| Depreciation, Depletion And Amortization | $220.0K | $185.0K |
| YoY Change | 18.92% | |
| Cash From Operating Activities | -$22.49M | -$5.582M |
| YoY Change | 302.81% | |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $698.0K | $119.0K |
| YoY Change | 486.55% | |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | ||
| YoY Change | ||
| Cash From Investing Activities | -$698.0K | -$119.0K |
| YoY Change | 486.55% | |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | $233.3M | |
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 233.5M | 5.000K |
| YoY Change | 4669480.0% | |
| NET CHANGE | ||
| Cash From Operating Activities | -22.49M | -5.582M |
| Cash From Investing Activities | -698.0K | -119.0K |
| Cash From Financing Activities | 233.5M | 5.000K |
| Net Change In Cash | 210.3M | -5.696M |
| YoY Change | -3791.99% | |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$22.49M | -$5.582M |
| Capital Expenditures | $698.0K | $119.0K |
| Free Cash Flow | -$23.18M | -$5.701M |
| YoY Change | 306.65% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021Q1 | tlis |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
30697000 | |
| CY2020Q4 | tlis |
Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
|
7694000 | |
| CY2021Q1 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
| CY2021Q1 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001584751 | |
| CY2021Q1 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | |
| CY2021Q1 | dei |
Amendment Flag
AmendmentFlag
|
false | |
| CY2021Q1 | dei |
Entity File Number
EntityFileNumber
|
001-40047 | |
| CY2021Q1 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
DE | |
| CY2020Q4 | us-gaap |
Restricted Cash Current
RestrictedCashCurrent
|
34650000 | |
| CY2020Q4 | us-gaap |
Grants Receivable Current
GrantsReceivableCurrent
|
238000 | |
| CY2020Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
5000 | |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-60492000 | |
| CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-7374000 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-4.61 | |
| CY2020Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-3.49 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
13110713 | |
| CY2020Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
2115770 | |
| CY2021Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
131000 | |
| CY2021Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2020Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2020Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
290945000 | |
| CY2021Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
2000 | |
| CY2021Q1 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
589726000 | |
| CY2020Q4 | us-gaap |
Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
|
64335000 | |
| CY2021Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-233398000 | |
| CY2020Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-172906000 | |
| CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
356333000 | |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-108571000 | |
| CY2021Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
403182000 | |
| CY2020Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
198405000 | |
| CY2021Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2020Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
230000000 | |
| CY2021Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
25637581 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
2126254 | |
| CY2021Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
25637581 | |
| CY2020Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
2126254 | |
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Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
7000000 | |
| CY2020Q1 | us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
399000 | |
| CY2021Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
60193000 | |
| CY2020Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
5714000 | |
| CY2021Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
7327000 | |
| CY2020Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
2080000 | |
| CY2021Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
67520000 | |
| CY2020Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
7794000 | |
| CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-60520000 | |
| CY2020Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-7395000 | |
| CY2021Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
28000 | |
| CY2020Q1 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
21000 | |
| CY2021Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
28000 | |
| CY2020Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
21000 | |
| CY2021Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
232548000 | |
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Reclassifications Of Temporary Equity To Permanent Equity Common Stock And Series One
ReclassificationsOfTemporaryEquityToPermanentEquityCommonStockAndSeriesOne
|
290945000 | |
| CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
1772000 | |
| CY2021Q1 | us-gaap |
Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
|
21349000 | |
| CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-21140000 | |
| CY2020Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
681000 | |
| CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-27828000 | |
| CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-60492000 | |
| CY2020Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-7374000 | |
| CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1772000 | |
| CY2020Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
681000 | |
| CY2021Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
216000 | |
| CY2020Q1 | tlis |
Noncash Lease Expense
NoncashLeaseExpense
|
138000 | |
| CY2020Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
185000 | |
| CY2021Q1 | tlis |
Noncash Lease Expense
NoncashLeaseExpense
|
143000 | |
| CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
15908000 | |
| CY2021Q1 | us-gaap |
Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
|
117000 | |
| CY2020Q1 | us-gaap |
Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
|
73000 | |
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Deferred Initial Public Offering Costs Included In Accrued Expenses And Other Liabilities
DeferredInitialPublicOfferingCostsIncludedInAccruedExpensesAndOtherLiabilities
|
802000 | |
| CY2020Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
15908000 | |
| CY2021Q1 | us-gaap |
Restricted Cash Equivalents Noncurrent
RestrictedCashEquivalentsNoncurrent
|
767000 | |
| CY2021Q1 | tlis |
Increase Decrease In Unbilled Grants Receivable
IncreaseDecreaseInUnbilledGrantsReceivable
|
-233000 | |
| CY2020Q1 | tlis |
Increase Decrease In Unbilled Grants Receivable
IncreaseDecreaseInUnbilledGrantsReceivable
|
328000 | |
| CY2021Q1 | tlis |
Increase Decrease In Grants Receivable
IncreaseDecreaseInGrantsReceivable
|
-238000 | |
| CY2020Q1 | tlis |
Increase Decrease In Grants Receivable
IncreaseDecreaseInGrantsReceivable
|
-1735000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
342000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
29000 | |
| CY2021Q1 | tlis |
Increase Decrease In Prepaid Research And Development
IncreaseDecreaseInPrepaidResearchAndDevelopment
|
-6803000 | |
| CY2020Q1 | tlis |
Increase Decrease In Prepaid Research And Development
IncreaseDecreaseInPrepaidResearchAndDevelopment
|
99000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
981000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
5821000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-160000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
24283000 | |
| CY2020Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-138000 | |
| CY2021Q1 | tlis |
Increase Decrease In Lease Liabilities Net
IncreaseDecreaseInLeaseLiabilitiesNet
|
179000 | |
| CY2020Q1 | tlis |
Increase Decrease In Lease Liabilities Net
IncreaseDecreaseInLeaseLiabilitiesNet
|
193000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-22485000 | |
| CY2020Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5582000 | |
| CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
698000 | |
| CY2020Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
119000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-698000 | |
| CY2020Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-119000 | |
| CY2021Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
233348000 | |
| CY2021Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
131000 | |
| CY2020Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
5000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
233479000 | |
| CY2020Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
5000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
210296000 | |
| CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-5696000 | |
| CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
173133000 | |
| CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
21604000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
383429000 | |
| CY2021Q1 | us-gaap |
Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
|
29863674 | |
| CY2020Q4 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
229296908 | |
| CY2021Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:12pt;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="Background-color:#FFFFFF;margin-bottom:6pt;margin-top:12pt;text-indent:0%;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 judgments, estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These estimates form the basis for judgments the Company makes about the carrying values of assets and liabilities that are not readily apparent from other sources. The Company bases its estimates and judgments on historical experience and on various other assumptions that the Company believes are reasonable under the circumstances. These estimates are based on management’s knowledge about current events and expectations about actions the Company may undertake in the future. Significant estimates include, but are not limited to, recovery of long-lived assets, stock-based compensation expense, research and development accruals, the measurement of right-of-use assets and lease liabilities, uncertain tax positions, and the fair value of common stock prior to the Company’s IPO. Actual results could vary from the amounts derived from management’s estimates and assumptions.</p> <p style="margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-size:10pt;"> </p> | |
| CY2021Q1 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="Background-color:#FFFFFF;margin-bottom:6pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Reclassifications</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying condensed balance sheet as of December 31, 2020 reflects the Company’s reclassification of accrued compensation out of accrued expenses and other liabilities to conform with current year presentation.</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;"> </p> | |
| CY2021Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of credit risk and other risks and uncertainties </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments which potentially subject the Company to concentrations of credit risk consist primarily of cash, restricted cash, and grant receivables. The Company’s cash is deposited in accounts at large financial institutions. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash is held and government grant funded nature of the Company’s grant receivables. </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;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 common to companies in the diagnostics industry including, but not limited to, uncertainties related to commercialization of products, regulatory approvals, and protection of intellectual property rights.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In December 2019, a novel strain of coronavirus, which causes the disease known as COVID-19, was reported to have surfaced in Wuhan, China. Since then, COVID-19 coronavirus has spread globally. In March 2020, the World Health Organization declared the COVID-19 outbreak a pandemic. The COVID-19 pandemic has and may continue to impact the Company’s third-party manufacturers and suppliers, which could disrupt its supply chain or the availability or cost of materials. The effects of the public health directives and the Company’s work-from-home policies may negatively impact productivity, disrupt its business and delay clinical programs and timelines and future clinical trials, the magnitude of which will depend, in part, on the length and severity of the restrictions and other limitations on the Company’s ability to conduct business in the ordinary course. These and similar, and perhaps more severe, disruptions in the Company’s operations could negatively impact business, results of operations and financial condition, including its ability to obtain financing. To date, the Company has not incurred impairment losses in the carrying values of its assets as a result of the pandemic and is not aware of any specific related event or circumstance that would require the Company to revise its estimates reflected in these condensed financial statements. </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has developed its COVID-19 test in direct response to the pandemic and has been awarded a contract from the NIH for Phase 2 of its Rapid Acceleration of Diagnostics (RADx) initiative. These developments may mitigate risks that could affect the Company’s ability to complete its clinical trials in a timely manner, delay the initiation and/or enrollment of any future clinical trials, disrupt regulatory activities or have other adverse effects on its business and operations.</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company cannot be certain what the overall impact of the COVID-19 pandemic will be on its business and prospects. The extent to which the COVID-19 pandemic will further directly or indirectly impact its business, results of operations, financial condition and liquidity, including planned and future clinical trials and research and development costs, will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19, the actions taken to contain or treat it, and the duration and intensity of the related effects. In addition, the Company could see some limitations on employee resources that would otherwise be focused on its operation, including but not limited to sickness of employees or their families, the desire of employees to avoid contact with large groups of people, and increased reliance on working from home. If the financial markets and/or the overall economy are impacted for an extended period, the Company’s business, financial condition, results of operations and prospects may be adversely affected. </p> | |
| CY2021Q1 | us-gaap |
Change In Accounting Principle Accounting Standards Update Adoption Date
ChangeInAccountingPrincipleAccountingStandardsUpdateAdoptionDate
|
2021-01-01 | |
| CY2021Q1 | us-gaap |
Change In Accounting Principle Accounting Standards Update Immaterial Effect
ChangeInAccountingPrincipleAccountingStandardsUpdateImmaterialEffect
|
true | |
| CY2021Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
35400000 | |
| CY2021Q1 | us-gaap |
Change In Accounting Principle Accounting Standards Update Early Adoption
ChangeInAccountingPrincipleAccountingStandardsUpdateEarlyAdoption
|
true | |
| CY2021Q1 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1-for-1.43 | |
| CY2021Q1 | us-gaap |
Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
|
0.699 | |
| CY2021Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
348000000 | |
| CY2021Q1 | us-gaap |
Accounting Standards Update Extensible List
AccountingStandardsUpdateExtensibleList
|
tlis:AccountingStandardsUpdate202006Member | |
| CY2021Q1 | tlis |
Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
|
29002000 | |
| CY2020Q4 | tlis |
Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
|
6360000 | |
| CY2021Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
831000 | |
| CY2020Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
608000 | |
| CY2021Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
864000 | |
| CY2020Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
726000 | |
| CY2021Q1 | us-gaap |
Purchase Obligation
PurchaseObligation
|
85500000 | |
| CY2021Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
170000000 | |
| CY2021Q1 | us-gaap |
Preferred Stock No Par Value
PreferredStockNoParValue
|
0.0001 | |
| CY2020Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
53509351 | |
| CY2020Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
53509351 | |
| CY2021Q1 | us-gaap |
Preferred Stock Shares Issued
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|
29863674 | |
| CY2021Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
29863674 | |
| CY2020Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
42890587 | |
| CY2020Q4 | us-gaap |
Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
|
475617000 | |
| CY2020Q4 | us-gaap |
Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
|
37419080 | |
| CY2021Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
| CY2021Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
| CY2021Q1 | us-gaap |
Common Stock Voting Rights
CommonStockVotingRights
|
one vote per share | |
| CY2021Q1 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
232500000 | |
| CY2021Q1 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
183390904 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
7737095 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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|
433360 | |
| CY2021Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
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|
85895 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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|
45138 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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8039422 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1179385 | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
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6860037 | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
4.22 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
15.48 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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1.50 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
3.62 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
4.86 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
1.83 | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
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|
5.38 | |
| CY2020 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y3M18D | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P9Y1M6D | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P8Y1M6D | |
| CY2021Q1 | tlis |
Share Based Compensation Arrangement By Share Based Payment Award Option Nonvested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionNonvestedWeightedAverageRemainingContractualTerm
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P9Y3M18D | |
| CY2020Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
16374000 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
65470000 | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
12998000 | |
| CY2021Q1 | tlis |
Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedIntrinsicValue
|
52472000 | |
| CY2021Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
|
1400000 | |
| CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1772000 | |
| CY2020Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
681000 | |
| CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
37979866 |
