2023 Q1 Form 10-K Financial Statement

#000186078223000038 Filed on March 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $41.62M $56.18M $91.50M
YoY Change 393.78% 250.36% 67.81%
Cost Of Revenue $641.0K $15.33M $1.726M
YoY Change 25.44% 3674.63% -31.43%
Gross Profit $40.98M $40.85M $89.77M
YoY Change 417.55% 161.4% 72.62%
Gross Profit Margin 98.46% 72.72% 98.11%
Selling, General & Admin $20.72M $18.70M $79.45M
YoY Change -13.16% -23.61% -15.03%
% of Gross Profit 50.56% 45.78% 88.5%
Research & Development $68.25M $49.31M $248.7M
YoY Change -1.44% -17.18% -5.04%
% of Gross Profit 166.53% 120.71% 277.08%
Depreciation & Amortization $2.255M $2.325M $11.53M
YoY Change -36.12% -34.23% -29.46%
% of Gross Profit 5.5% 5.69% 12.85%
Operating Expenses $88.97M $68.06M $328.2M
YoY Change -4.45% -18.97% -7.67%
Operating Profit -$51.71M -$27.21M -$263.1M
YoY Change -42.91% -60.2% -16.18%
Interest Expense $2.049M $1.491M $2.932M
YoY Change 1681.74% 1594.32% 3231.82%
% of Operating Profit
Other Income/Expense, Net $2.643M $2.561M $6.055M
YoY Change -44.5% -64.95% -72.03%
Pretax Income -$47.02M -$23.16M -$254.2M
YoY Change -45.14% -62.02% -13.02%
Income Tax $0.00 -$17.00K $0.00
% Of Pretax Income
Net Earnings -$47.00M -$23.14M -$254.2M
YoY Change -45.16% -62.05% -13.02%
Net Earnings / Revenue -112.92% -41.2% -277.77%
Basic Earnings Per Share -$1.08 -$7.13
Diluted Earnings Per Share -$1.08 -$0.60 -$7.13
COMMON SHARES
Basic Shares Outstanding 50.19M shares 37.92M shares 35.64M shares
Diluted Shares Outstanding 43.47M shares 35.64M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $339.9M $266.3M $266.3M
YoY Change -10.04% 0.46% 0.46%
Cash & Equivalents $193.6M $71.03M $71.03M
Short-Term Investments $146.3M $195.2M $195.2M
Other Short-Term Assets $8.635M $13.65M $13.65M
YoY Change -52.03% 43.52% 43.52%
Inventory
Prepaid Expenses $8.635M $13.65M
Receivables $41.25M $20.96M $20.96M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $389.8M $300.9M $300.9M
YoY Change -5.57% 3.2% 3.2%
LONG-TERM ASSETS
Property, Plant & Equipment $59.15M $55.74M $296.6M
YoY Change 68.83% 59.64% -4.45%
Goodwill $12.06M $12.06M
YoY Change 0.0% 0.0%
Intangibles $7.125M $7.302M
YoY Change -18.79% -26.18%
Long-Term Investments $1.432M $1.414M $1.414M
YoY Change -98.08% -98.54% -98.54%
Other Assets $37.59M $38.39M $38.39M
YoY Change -0.41% -0.52% -0.52%
Total Long-Term Assets $352.6M $355.8M $355.8M
YoY Change -19.7% -24.0% -24.0%
TOTAL ASSETS
Total Short-Term Assets $389.8M $300.9M $300.9M
Total Long-Term Assets $352.6M $355.8M $355.8M
Total Assets $742.4M $656.7M $656.7M
YoY Change -12.85% -13.56% -13.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.40M $7.208M $7.208M
YoY Change -1.82% 19.65% 19.65%
Accrued Expenses $55.05M $65.84M $65.84M
YoY Change -19.68% 1.02% 1.02%
Deferred Revenue $8.480M $3.000M
YoY Change 69.6% -40.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $76.93M $79.79M $79.79M
YoY Change -27.64% -18.9% -18.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.401M $2.397M $266.4M
YoY Change -1.23% 12.96% -11.63%
Total Long-Term Liabilities $2.401M $2.397M $266.4M
YoY Change -1.23% 12.96% -11.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $76.93M $79.79M $79.79M
Total Long-Term Liabilities $2.401M $2.397M $266.4M
Total Liabilities $341.1M $346.2M $346.2M
YoY Change -15.67% -13.42% -13.42%
SHAREHOLDERS EQUITY
Retained Earnings -$340.7M -$293.6M
YoY Change 172.09% 643.52%
Common Stock $5.000K $4.000K
YoY Change 25.0% 100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $401.3M $310.5M $310.5M
YoY Change
Total Liabilities & Shareholders Equity $742.4M $656.7M $656.7M
YoY Change -12.85% -13.56% -13.56%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$47.00M -$23.14M -$254.2M
YoY Change -45.16% -62.05% -13.02%
Depreciation, Depletion And Amortization $2.255M $2.325M $11.53M
YoY Change -36.12% -34.23% -29.46%
Cash From Operating Activities -$49.10M -$55.48M -$237.1M
YoY Change -33.74% -3.41% 14.56%
INVESTING ACTIVITIES
Capital Expenditures $6.079M $3.166M $22.84M
YoY Change 69.57% -424.72% 97.34%
Acquisitions
YoY Change
Other Investing Activities $50.88M $2.634M $34.54M
YoY Change 5.26% -92.47% -1.28%
Cash From Investing Activities $44.80M -$532.0K $11.70M
YoY Change 0.11% -101.56% -24.1%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $127.1M 232.0K $166.2M
YoY Change -25.29% -99.88% -53.16%
NET CHANGE
Cash From Operating Activities -$49.10M -55.48M -$237.1M
Cash From Investing Activities $44.80M -532.0K $11.70M
Cash From Financing Activities $127.1M 232.0K $166.2M
Net Change In Cash $122.8M -55.78M -$59.21M
YoY Change -12.78% -134.17% -136.26%
FREE CASH FLOW
Cash From Operating Activities -$49.10M -$55.48M -$237.1M
Capital Expenditures $6.079M $3.166M $22.84M
Free Cash Flow -$55.18M -$58.65M -$260.0M
YoY Change -28.97% 3.86% 18.94%

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CY2020 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
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CY2021 us-gaap Depreciation Depletion And Amortization
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2021 tsvt Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
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CY2020 tsvt Increase Decrease In Operating Lease Right Of Use Asset
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327000 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
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CY2022 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2021 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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15733000 usd
CY2020 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2021 us-gaap Increase Decrease In Operating Lease Liability
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CY2020 us-gaap Increase Decrease In Operating Lease Liability
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CY2021 us-gaap Increase Decrease In Contract With Customer Liability
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4180000 usd
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
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CY2022 tsvt Increase Decrease In Collaboration Research Advancement
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19577000 usd
CY2021 tsvt Increase Decrease In Collaboration Research Advancement
IncreaseDecreaseInCollaborationResearchAdvancement
7496000 usd
CY2020 tsvt Increase Decrease In Collaboration Research Advancement
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CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020 us-gaap Net Cash Provided By Used In Operating Activities
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22842000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
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11575000 usd
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PaymentsToAcquirePropertyPlantAndEquipment
22261000 usd
CY2022 us-gaap Payments To Acquire Marketable Securities
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145908000 usd
CY2021 us-gaap Payments To Acquire Marketable Securities
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CY2021 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
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CY2021 us-gaap Payments To Acquire Intangible Assets
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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15411000 usd
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CY2021 us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
354889000 usd
CY2020 us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
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CY2021 us-gaap Proceeds From Issuance Of Private Placement
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CY2021 tsvt Proceeds From Stock Options Exercised And Stock Plans
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CY2020 tsvt Proceeds From Stock Options Exercised And Stock Plans
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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354889000 usd
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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163266000 usd
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163266000 usd
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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130414000 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
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32852000 usd
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
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3703000 usd
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022 tsvt Noncash Or Part Noncash Transfer To Net Parent Investment
NoncashOrPartNoncashTransferToNetParentInvestment
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CY2021 tsvt Noncash Or Part Noncash Transfer To Net Parent Investment
NoncashOrPartNoncashTransferToNetParentInvestment
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CY2020 tsvt Noncash Or Part Noncash Transfer To Net Parent Investment
NoncashOrPartNoncashTransferToNetParentInvestment
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CY2022 tsvt Increase Of Right Of Use Asset And Associated Lease Liability Due To Reassessment
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0 usd
CY2021 tsvt Increase Of Right Of Use Asset And Associated Lease Liability Due To Reassessment
IncreaseOfRightOfUseAssetAndAssociatedLeaseLiabilityDueToReassessment
174618000 usd
CY2020 tsvt Increase Of Right Of Use Asset And Associated Lease Liability Due To Reassessment
IncreaseOfRightOfUseAssetAndAssociatedLeaseLiabilityDueToReassessment
0 usd
CY2022 us-gaap Stock Issued1
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0 usd
CY2021 us-gaap Stock Issued1
StockIssued1
6544000 usd
CY2020 us-gaap Stock Issued1
StockIssued1
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CY2022 us-gaap Nature Of Operations
NatureOfOperations
Description of the business<div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2seventy bio, Inc. (the “Company” or “2seventy bio”) is a cell and gene therapy company focused on the research, development, and commercialization of transformative treatments for cancer. The Company’s approach combines its expertise in T cell engineering technology and lentiviral vector gene delivery approaches, experience in research, development, and manufacturing of cell therapies and a suite of technologies that can be selectively deployed to develop highly innovative, targeted cellular therapies for patients with cancer. The Company is advancing multiple preclinical and clinical programs in oncology and, together with Bristol Myers Squibb (“BMS”), delivering the first FDA-approved CAR T therapy in multiple myeloma, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Abecma</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (idecabtagene vicleucel, or ide-cel), to patients in the United States. Please refer to Note 10, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Collaborative arrangements and strategic partnerships</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, for further discussion of the collaboration with BMS. </span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2seventy bio Securities Corporation is a wholly-owned subsidiary of the Company which was incorporated in Massachusetts on December 13, 2021 and was granted securities corporation status in Massachusetts for the 2021 tax year. 2seventy bio Securities Corporation has no employees.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is subject to risks and uncertainties similar to other companies in the biotechnology industry. There can be no assurance that the Company’s preclinical studies and clinical trials will be successfully completed, that it will maintain protection of proprietary technology, or that it will obtain the necessary government regulatory approvals for its product candidates or those of its collaborators. Even if approved, these product candidates may not be commercially viable. The Company operates in an environment of rapid technological innovation and substantial competition from pharmaceutical and biotechnology companies. Additionally, the Company is dependent on key personnel and on third party organizations such as financial institutions, collaborators, and contract manufacturing organizations. </span></div><div style="margin-bottom:9pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">The separation from bluebird bio, Inc.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In January 2021, bluebird bio, Inc. (“bluebird bio”) announced its plans to separate its oncology portfolio and programs from its severe genetic disease portfolio and programs, and spin off its oncology portfolio and programs into a separate, publicly traded company. In furtherance of this plan, 2seventy bio was incorporated as a Delaware corporation in April 2021, and in September 2021, bluebird bio’s board of directors approved the distribution of all of the issued and outstanding shares of 2seventy bio common stock on the basis of one share of 2seventy bio common stock for every three shares of bluebird bio common stock issued and outstanding on October 19, 2021, the record date for the distribution. As a result of the distribution, which occurred on November 4, 2021, 2seventy bio became an independent, publicly traded company.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 3, 2021, the Company also entered into a separation agreement with bluebird bio, which is referred to in this annual report as the “Separation Agreement”, as well as various other agreements with bluebird bio, including a tax matters agreement, an employee matters agreement, an intellectual property license agreement, a transition services agreement under which 2seventy bio temporarily receives certain services from bluebird bio, and a second transition services agreement under which 2seventy bio temporarily provides certain services to bluebird bio. These agreements also govern certain of 2seventy bio’s relationships with bluebird bio after the separation. For additional information regarding the Separation Agreement and the other related agreements, refer to Note 14, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Related-party transactions.</span></div><div style="margin-bottom:9pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Going concern</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with Accounting Standards Codification (“ASC”) 205-40, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Going Concern</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Company evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about its ability to continue as a going concern within one year after the date that the consolidated and combined financial </span></div>statements are issued. The Company has incurred losses and has experienced negative operating cash flows for all historical periods presented. During the year ended December 31, 2022, the Company incurred a net loss of $254.2 million and used $237.1 million of cash in operations. The Company expects to continue to generate operating losses and negative operating cash flows for the next few years. The Company's continued operations are dependent on its ability to raise additional funding. <span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2022, the Company had cash, cash equivalents and marketable securities of $267.7 million. In January 2023, the Company entered into a Share Purchase Agreement with Regeneron Pharmaceuticals, Inc. (“Regeneron”) pursuant to which it sold 1,114,827 shares of its common stock to Regeneron for an aggregate cash price of approximately $20.0 million. In March 2023, the Company sold 10.9 million shares of common stock through an underwritten public offering at a price per share of $11.50. This resulted in aggregate gross proceeds to the Company of approximately $125.0 million, before deducting underwriting discounts and commissions and offering expenses. Based on its current operating plans, including with respect to the ongoing commercialization of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Abecma</span>, the Company expects that its cash, cash equivalents and marketable securities (including amounts received from the transactions discussed above), will be sufficient to fund current planned operations for at least the next twelve months from the date of filing this Annual Report on Form 10-K. The Company may, in the future, pursue additional cash resources through a combination of public or private equity offerings, debt financings, collaborations, strategic alliances or licensing arrangements with third parties. This includes the potential sale of shares of its common stock of up to $150.0 million in gross proceeds under the at-the-market (“ATM”) facility established in November 2022 with Cowen and Company, LLC. No sales of common stock have occurred under this ATM as of the date of this Annual Report on Form 10-K.
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-254200000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-237100000 usd
CY2022Q4 tsvt Cash Cash Equivalents And Marketable Securities
CashCashEquivalentsAndMarketableSecurities
267700000 usd
CY2021 us-gaap Proceeds From Contributions From Parent
ProceedsFromContributionsFromParent
354900000 usd
CY2021Q4 tsvt Spinoff Transaction Recognized Identifiable Assets Acquired And Liabilities Assumed Net
SpinoffTransactionRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
384500000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:9pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could materially differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes and management must select an amount that falls within that range of reasonable estimates. This process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements.</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Estimates and judgments are used in the following areas, among others: allocations of revenue, expenses, assets and liabilities from bluebird bio's historical consolidated financial statements to the Company for periods prior to the separation, future undiscounted cash flows and subsequent fair value estimates used to assess potential and measure any impairment of long-lived assets, including goodwill and intangible assets, the measurement of right-of-use assets and lease liabilities, contingent consideration, stock-based compensation expense, accrued expenses, income taxes, and the assessment of the Company's ability to fund its operations for at least the next twelve months from the date of issuance of these financial statements. In addition, estimates and judgments are used in the Company’s accounting for its revenue-generating arrangements, in particular as it relates to determining the stand-alone selling price of performance obligations, evaluating whether an option to acquire additional goods and services represents a material right, estimating the total transaction price, including estimating variable consideration and the probability of achieving future potential development and regulatory milestones, assessing the period of performance over which revenue may be recognized, and accounting for modifications to revenue-generating arrangements.</span></div>
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
565000 usd
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:9pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of credit risk and off-balance sheet risk</span></div><div style="margin-bottom:9pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that subject the Company to credit risk primarily consist of cash and cash equivalents, available-for-sale securities, and accounts receivable. Deposits are maintained with banks in the United States and such amounts may exceed the amount of insurance provided on such deposits. The Company 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 currently associated with commercial banking relationships. Cash deposits are insured by the Federal Deposit Insurance Corporations (“FDIC”) up to $250,000. The Company has cash deposits in excess of the FDIC insured limit. The Company’s marketable securities, which primarily consist of U.S. government agency securities and treasuries, corporate bonds and commercial paper, potentially subject the Company to concentrations of credit risk. </span></div>The Company has adopted an investment policy that limits the amounts the Company may invest in any one type of investment and requires all investments held by the Company to be at least AA+/Aa1 rated, thereby reducing credit risk exposure. The Company’s accounts receivable balance primarily consists of amounts owed from collaborative arrangement partners and royalties receivable under out-license agreements with various third parties. The Company monitors economic conditions to identify facts or circumstances that may indicate that any of its accounts receivable are at risk of collection.
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
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CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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160130000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
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565000 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
3416000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
8794000 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
54678000 usd
CY2022 tsvt Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
32358000 usd
CY2021 tsvt Contract With Customer Liability Revenue Recognized Including Opening Balance
ContractWithCustomerLiabilityRevenueRecognizedIncludingOpeningBalance
26921000 usd
CY2020 tsvt Contract With Customer Liability Revenue Recognized Including Opening Balance
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115594000 usd
CY2022Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
13094000 usd
CY2021Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
6768000 usd
CY2022Q4 tsvt Accrued Clinical And Contract Research Organization Costs Current
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1619000 usd
CY2021Q4 tsvt Accrued Clinical And Contract Research Organization Costs Current
AccruedClinicalAndContractResearchOrganizationCostsCurrent
3229000 usd
CY2022Q4 tsvt Accrued Collaboration Research Costs Current
AccruedCollaborationResearchCostsCurrent
2005000 usd
CY2021Q4 tsvt Accrued Collaboration Research Costs Current
AccruedCollaborationResearchCostsCurrent
2576000 usd
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
0 shares
CY2022Q4 tsvt Accrued Property Plant And Equipment Current
AccruedPropertyPlantAndEquipmentCurrent
1498000 usd
CY2021Q4 tsvt Accrued Property Plant And Equipment Current
AccruedPropertyPlantAndEquipmentCurrent
2241000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
239000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1688000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
198754000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
6000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2108000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
196652000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
232332000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
565000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
231767000 usd
CY2022Q4 us-gaap Interest Receivable
InterestReceivable
300000 usd
CY2021Q4 us-gaap Interest Receivable
InterestReceivable
400000 usd
CY2021 tsvt Interest Receivable Write Off
InterestReceivableWriteOff
0 usd
CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
91385000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
278000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
88674000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1830000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
180059000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
2108000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
160130000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
103573000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
74991000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
47838000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
40078000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
55735000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
34913000 usd
CY2022 us-gaap Depreciation
Depreciation
8900000 usd
CY2021 us-gaap Depreciation
Depreciation
12100000 usd
CY2020 us-gaap Depreciation
Depreciation
9400000 usd
CY2022Q4 tsvt Accrued Manufacturing Costs Current
AccruedManufacturingCostsCurrent
17962000 usd
CY2021Q4 tsvt Accrued Manufacturing Costs Current
AccruedManufacturingCostsCurrent
5459000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
14845000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
24655000 usd
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
55410000 usd
CY2022 tsvt Salary And Wage Bonus Payout Period
SalaryAndWageBonusPayoutPeriod
P6M
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
33738000 usd
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
24838000 usd
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
22454000 usd
CY2022 us-gaap Lease Cost
LeaseCost
33738000 usd
CY2021 us-gaap Lease Cost
LeaseCost
24838000 usd
CY2020 us-gaap Lease Cost
LeaseCost
22454000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
27140000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
25489000 usd
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
19632000 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y9M18D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y9M18D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y4M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0547
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0547
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0672
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
43900000 usd
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
34500000 usd
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
32500000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
27861000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
28672000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
29498000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
32920000 usd
CY2022Q4 tsvt Lessee Operating Lease Liability To Be Paid Year Five And Thereafter
LesseeOperatingLeaseLiabilityToBePaidYearFiveAndThereafter
250383000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
369334000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
99162000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
270172000 usd
CY2020 tsvt Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
0.003
CY2022 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.025
CY2021 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
0.003
CY2020 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.041
CY2022Q4 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
16008000 usd
CY2022Q4 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
15750000 usd
CY2022Q4 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
0 usd
CY2022Q4 tsvt Purchase Obligation To Be Paid Year Four And Thereafter
PurchaseObligationToBePaidYearFourAndThereafter
0 usd
CY2022Q4 us-gaap Purchase Obligation
PurchaseObligation
31758000 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2022Q4 tsvt Common Stock Number Of Votes Per Common Share
CommonStockNumberOfVotesPerCommonShare
1 vote
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
37900000 shares
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
37900000 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
23600000 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
23600000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
6689000 shares
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5686000 shares
CY2022 tsvt Effective Income Tax Rate Reconciliation Tax Credits Research And Development
EffectiveIncomeTaxRateReconciliationTaxCreditsResearchAndDevelopment
0.032
CY2021 tsvt Effective Income Tax Rate Reconciliation Tax Credits Research And Development
EffectiveIncomeTaxRateReconciliationTaxCreditsResearchAndDevelopment
0.002
CY2020 tsvt Effective Income Tax Rate Reconciliation Tax Credits Research And Development
EffectiveIncomeTaxRateReconciliationTaxCreditsResearchAndDevelopment
0.138
CY2022 tsvt Effective Income Tax Rate Reconciliation Officer Compensation Limitation
EffectiveIncomeTaxRateReconciliationOfficerCompensationLimitation
-0.012
CY2021 tsvt Effective Income Tax Rate Reconciliation Officer Compensation Limitation
EffectiveIncomeTaxRateReconciliationOfficerCompensationLimitation
-0.004
CY2020 tsvt Effective Income Tax Rate Reconciliation Officer Compensation Limitation
EffectiveIncomeTaxRateReconciliationOfficerCompensationLimitation
-0.016
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
-0.002
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
38600000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
31298000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7302000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
38600000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
28708000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
9892000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2600000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4300000 usd
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3800000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
708000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
708000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
708000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
708000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
708000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
3762000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7302000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
1500000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
1300000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
41000000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
54600000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
61000000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
41040000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
54629000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
60997000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Contingencies
EffectiveIncomeTaxRateReconciliationTaxContingencies
-0.011
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.006
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.011
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.013
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
41040000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
54629000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
60997000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.789
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.018
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Vested
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueVested
5500000 usd
CY2021Q4 tsvt Number Of Transition Services Agreements
NumberOfTransitionServicesAgreements
2 agreement
CY2021Q4 tsvt Transition Services Agreement Initial Term
TransitionServicesAgreementInitialTerm
P2Y
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.274
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.648
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.321
CY2022 tsvt Effective Income Tax Rate Reconciliation Spin Off Adjustment Percent
EffectiveIncomeTaxRateReconciliationSpinOffAdjustmentPercent
0
CY2021 tsvt Effective Income Tax Rate Reconciliation Spin Off Adjustment Percent
EffectiveIncomeTaxRateReconciliationSpinOffAdjustmentPercent
-0.854
CY2020 tsvt Effective Income Tax Rate Reconciliation Spin Off Adjustment Percent
EffectiveIncomeTaxRateReconciliationSpinOffAdjustmentPercent
0
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
3200000 usd
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2400000 usd
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
2200000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-254153000 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-292213000 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-120114000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0 usd
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0 usd
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
0 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-254153000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-292213000 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-120114000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.066
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.006
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.038
CY2022 tsvt Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
-0.002
CY2021 tsvt Effective Income Tax Rate Reconciliation Permanent Differences
EffectiveIncomeTaxRateReconciliationPermanentDifferences
0
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
27251000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
12142000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
10071000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
466000 usd
CY2022Q4 tsvt Deferred Tax Assets Capitalized License Fee And Research And Development Expenses
DeferredTaxAssetsCapitalizedLicenseFeeAndResearchAndDevelopmentExpenses
11888000 usd
CY2021Q4 tsvt Deferred Tax Assets Capitalized License Fee And Research And Development Expenses
DeferredTaxAssetsCapitalizedLicenseFeeAndResearchAndDevelopmentExpenses
11905000 usd
CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
3237000 usd
CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
13724000 usd
CY2022Q4 tsvt Deferred Tax Assets Stock Based Compensation
DeferredTaxAssetsStockBasedCompensation
16719000 usd
CY2021Q4 tsvt Deferred Tax Assets Stock Based Compensation
DeferredTaxAssetsStockBasedCompensation
15824000 usd
CY2022Q4 tsvt Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
73719000 usd
CY2021Q4 tsvt Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
71941000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
3857000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
5395000 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
55719000 usd
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
0 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
202461000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
131397000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
0 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
476000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
65181000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
69693000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
9266000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
2958000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
128014000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
58270000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 usd
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
0 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
69700000 usd
CY2022 tsvt Capitalized Research And Development Expense
CapitalizedResearchAndDevelopmentExpense
232100000 usd
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4403000 usd
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
36000 usd
CY2021 tsvt Unrecognized Tax Benefits Decrease Resulting From Gross Spin Off Adjustment
UnrecognizedTaxBenefitsDecreaseResultingFromGrossSpinOffAdjustment
4403000 usd
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
36000 usd
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
713000 usd
CY2022 tsvt Unrecognized Tax Benefits Decrease Resulting From Gross Spin Off Adjustment
UnrecognizedTaxBenefitsDecreaseResultingFromGrossSpinOffAdjustment
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
749000 usd
CY2022Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0 usd
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3911000 shares
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2570000 shares
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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