$TTOO
T2 Biosystems, Inc.

2020 Q4 Form 10-K Financial Statement

#000156459021017074 Filed on March 31, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 2019 Q4
Revenue $7.790M $18.13M $3.069M
YoY Change 153.83% 117.52% 71.26%
Cost Of Revenue $7.480M $20.68M $3.610M
YoY Change 107.2% 23.39% -35.88%
Gross Profit $310.0K -$2.550M -$540.0K
YoY Change -157.41% -69.75% -85.94%
Gross Profit Margin 3.98% -14.07% -17.6%
Selling, General & Admin $4.600M $20.79M $7.546M
YoY Change -39.04% -23.86% 16.85%
% of Gross Profit 1483.87%
Research & Development $4.040M $16.92M $4.279M
YoY Change -5.59% 3.64% 29.78%
% of Gross Profit 1303.23%
Depreciation & Amortization $390.0K $1.710M $510.0K
YoY Change -23.53% -22.27% -13.56%
% of Gross Profit 125.81%
Operating Expenses $8.630M $37.71M $11.83M
YoY Change -27.02% -13.57% 21.22%
Operating Profit -$8.320M -$41.36M -$12.37M
YoY Change -32.72% -20.56% -9.03%
Interest Expense -$1.600M $5.518M -$1.690M
YoY Change -5.33% -24.91% -4.52%
% of Operating Profit
Other Income/Expense, Net $10.00K -$5.442M $20.00K
YoY Change -50.0% -21.68% -90.91%
Pretax Income -$9.910M -$46.80M -$14.04M
YoY Change -29.42% -20.69% -7.33%
Income Tax
% Of Pretax Income
Net Earnings -$9.910M -$46.80M -$14.04M
YoY Change -29.42% -20.69% -7.31%
Net Earnings / Revenue -127.21% -258.12% -457.51%
Basic Earnings Per Share
Diluted Earnings Per Share -$66.86K -$385.7K -$293.1K
COMMON SHARES
Basic Shares Outstanding 46.68M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.19M $42.19M $11.03M
YoY Change 282.5% 282.5% -78.29%
Cash & Equivalents $16.79M $16.79M $11.03M
Short-Term Investments $25.40M $25.40M
Other Short-Term Assets $2.660M $2.660M $1.440M
YoY Change 84.72% 84.72% 7.46%
Inventory $3.636M $3.640M $3.599M
Prepaid Expenses
Receivables $5.099M $5.100M $2.825M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $53.58M $53.58M $18.90M
YoY Change 183.59% 183.49% -66.62%
LONG-TERM ASSETS
Property, Plant & Equipment $3.771M $14.81M $5.845M
YoY Change -35.48% 60.8% -20.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.00M $10.00M
YoY Change
Other Assets $136.0K $690.0K $206.0K
YoY Change -33.98% 76.92% 0.0%
Total Long-Term Assets $25.49M $25.50M $9.591M
YoY Change 165.81% 165.9% 24.54%
TOTAL ASSETS
Total Short-Term Assets $53.58M $53.58M $18.90M
Total Long-Term Assets $25.49M $25.50M $9.591M
Total Assets $79.08M $79.08M $28.49M
YoY Change 177.6% 177.57% -55.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.058M $2.060M $3.753M
YoY Change -45.16% -45.07% 404.44%
Accrued Expenses $7.512M $7.510M $11.21M
YoY Change -32.97% -33.01% 84.54%
Deferred Revenue $230.0K $285.0K
YoY Change -19.3% -59.11%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $42.90M
YoY Change -100.0% -100.0% 1.25%
Total Short-Term Liabilities $9.800M $9.800M $60.57M
YoY Change -83.82% -83.82% 15.82%
LONG-TERM LIABILITIES
Long-Term Debt $45.24M $45.24M $0.00
YoY Change
Other Long-Term Liabilities $3.350M $15.32M $1.920M
YoY Change 74.48% 697.92% 204.76%
Total Long-Term Liabilities $3.350M $60.56M $1.920M
YoY Change 74.48% 3054.17% 204.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.800M $9.800M $60.57M
Total Long-Term Liabilities $3.350M $60.56M $1.920M
Total Liabilities $13.15M $70.35M $62.49M
YoY Change -78.96% 12.58% 18.08%
SHAREHOLDERS EQUITY
Retained Earnings -$423.0M -$376.2M
YoY Change 12.44% 18.6%
Common Stock $431.7M $342.2M
YoY Change 26.16% 4.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.726M $8.730M -$34.01M
YoY Change
Total Liabilities & Shareholders Equity $79.08M $79.08M $28.49M
YoY Change 177.6% 177.57% -55.7%

Cashflow Statement

Concept 2020 Q4 2020 2019 Q4
OPERATING ACTIVITIES
Net Income -$9.910M -$46.80M -$14.04M
YoY Change -29.42% -20.69% -7.31%
Depreciation, Depletion And Amortization $390.0K $1.710M $510.0K
YoY Change -23.53% -22.27% -13.56%
Cash From Operating Activities -$8.750M -$43.22M -$10.12M
YoY Change -13.54% -4.73% 4.44%
INVESTING ACTIVITIES
Capital Expenditures -$370.0K $804.0K -$20.00K
YoY Change 1750.0% 5.65% -105.56%
Acquisitions
YoY Change
Other Investing Activities $6.750M -$35.46M
YoY Change
Cash From Investing Activities $6.370M -$36.26M -$20.00K
YoY Change -31950.0% 4664.91% -105.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 110.0K 85.61M 4.960M
YoY Change -97.78% 1248.14% -5611.11%
NET CHANGE
Cash From Operating Activities -8.750M -43.22M -10.12M
Cash From Investing Activities 6.370M -36.26M -20.00K
Cash From Financing Activities 110.0K 85.61M 4.960M
Net Change In Cash -2.270M 6.131M -5.180M
YoY Change -56.18% -115.42% -45.01%
FREE CASH FLOW
Cash From Operating Activities -$8.750M -$43.22M -$10.12M
Capital Expenditures -$370.0K $804.0K -$20.00K
Free Cash Flow -$8.380M -$44.02M -$10.10M
YoY Change -17.03% -4.56% 0.5%

Facts In Submission

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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company utilizes certain estimates in the determination of the accounts receivable allowance, the excess and obsolete inventory, the net realizable value of inventory, the fair value of its stock options, as well as restricted stock units that have market conditions, deferred tax valuation allowances, revenue recognition, expenses relating to research and development contracts, accrued expenses, the fair value of a derivative liability, the fair value of warrants and classification of the value of instrument raw material and work-in-process inventory between inventory and property and equipment. The Company bases its estimates on historical experience and other market<span style="font-family:MS Mincho;">‑</span>specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from such estimates.</p>
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CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
35389000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
9000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
35398000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
25387000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
25396000
CY2020Q4 ttoo Available For Sale Securities Debt Maturities After One Through Two Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsAmortizedCost
10002000
CY2020Q4 ttoo Available For Sale Securities Debt Maturities After One Through Two Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughTwoYearsFairValue
10002000
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
35389000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
35398000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1496000
CY2019Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1617000
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1374000
CY2019Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1227000
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
766000
CY2019Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
755000
CY2020Q4 us-gaap Inventory Net
InventoryNet
3636000
CY2019Q4 us-gaap Inventory Net
InventoryNet
3599000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
18130000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8335000
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
500000
CY2019Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
200000
CY2020 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
The Company expects to recognize revenue on the remaining performance obligations over the next 23 months.
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
600000
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
200000
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
200000
CY2019Q4 us-gaap Capitalized Contract Cost Gross
CapitalizedContractCostGross
0
CY2020 us-gaap Production Related Impairments Or Charges
ProductionRelatedImpairmentsOrCharges
600000
CY2020 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
500000
CY2019 us-gaap Production Related Impairments Or Charges
ProductionRelatedImpairmentsOrCharges
0
CY2019 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Guarantees</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As permitted under Delaware law, the Company indemnifies its officers and directors for certain events or occurrences while each such officer or director is, or was, serving at the Company’s request in such capacity. The term of the indemnification is the officer’s or director’s lifetime. The maximum potential amount of future payments the Company could be required to make is unlimited; however, the Company has directors’ and officers’ liability insurance coverage that limits its exposure and enables the Company to recover a portion of any future amounts paid. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company leases office, laboratory and manufacturing space under noncancelable operating leases. The Company has standard indemnification arrangements under the leases that require it to indemnify the landlords against all costs, expenses, fines, suits, claims, demands, liabilities, and actions directly resulting from any breach, violation or nonperformance of any covenant or condition of the Company’s leases. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the ordinary course of business, the Company enters into indemnification agreements with certain suppliers and business partners where the Company has certain indemnification obligations limited to the costs, expenses, fines, suits, claims, demands, liabilities and actions directly resulting from the Company’s gross negligence or willful misconduct, and in certain instances, breaches, violations or nonperformance of covenants or conditions under the agreements. </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.83%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of December 31, 2020 and December 31, 2019, the Company had not experienced any material losses related to these indemnification obligations, and no material claims with respect thereto were outstanding. The Company does not expect significant claims related to these indemnification obligations and, consequently, concluded that the fair value of these obligations is negligible, and no related reserves were established.</p>
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19081000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13236000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5845000
CY2019Q4 us-gaap Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
600000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2200000
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3193000
CY2019Q4 ttoo Accrued Final Fee Related To Debt
AccruedFinalFeeRelatedToDebt
2445000
CY2020Q4 ttoo Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
751000
CY2019Q4 ttoo Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
267000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
421000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
511000
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
940000
CY2019Q4 us-gaap Interest Payable Current
InterestPayableCurrent
908000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1151000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1983000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
620000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1900000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7512000
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11207000
CY2019Q4 ttoo Accrued Final Fee Related To Debt
AccruedFinalFeeRelatedToDebt
2400000
CY2020Q4 ttoo Accrued Final Fee Noncurrent Related To Debt
AccruedFinalFeeNoncurrentRelatedToDebt
3400000
CY2019Q4 ttoo Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
859000
CY2020Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
351000
CY2019Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
297000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
12600000
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-30600000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3100000
CY2020Q4 ttoo Long Term Debt Maturities Repayments Of Principal And Interest In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalAndInterestInYearTwo
48077000
CY2020Q4 ttoo Debt Instrument Carrying Amount Including Interest
DebtInstrumentCarryingAmountIncludingInterest
48077000
CY2020Q4 ttoo Debt Instrument Paid In Kind Interest Relating To Future Payments
DebtInstrumentPaidInKindInterestRelatingToFuturePayments
1669000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1173000
CY2020Q4 us-gaap Notes Payable
NotesPayable
45235000
CY2020 ttoo Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
148078974
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
50651535
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3500000
CY2019Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45507754
CY2020 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.39
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
72404000
CY2019 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5437000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-46798000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
-59006000
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
121331464
CY2019 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.30
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
59764000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
3345000
CY2019Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
1156000
CY2020Q4 ttoo Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
2994000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11336957
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8746087
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.064
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.026
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.019
CY2019 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.012
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.014
CY2019 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.010
CY2020 ttoo Effective Income Tax Rate Reconciliation Tax Credits Limitations On Credits And Net Operating Losses
EffectiveIncomeTaxRateReconciliationTaxCreditsLimitationsOnCreditsAndNetOperatingLosses
0.001
CY2019 ttoo Effective Income Tax Rate Reconciliation Tax Credits Limitations On Credits And Net Operating Losses
EffectiveIncomeTaxRateReconciliationTaxCreditsLimitationsOnCreditsAndNetOperatingLosses
-0.752
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.270
CY2019 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.518
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
61551000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
50407000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
1428000
CY2019Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
472000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
3546000
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
2888000
CY2020Q4 ttoo Deferred Tax Assets Start Up Expenditures
DeferredTaxAssetsStartUpExpenditures
2672000
CY2019Q4 ttoo Deferred Tax Assets Start Up Expenditures
DeferredTaxAssetsStartUpExpenditures
2716000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3382000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3450000
CY2020Q4 ttoo Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
3170000
CY2019Q4 ttoo Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
987000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
75749000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
60920000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1151000
CY2019Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1983000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10533000
CY2019Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1873000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
11684000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3856000
CY2020Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2019 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
235000
CY2019 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
36000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
1945000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
1995000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
754000
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
659000
CY2020 us-gaap Lease Cost
LeaseCost
2699000
CY2019 us-gaap Lease Cost
LeaseCost
2925000
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.119
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.119
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2440000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2345000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2290000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2358000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
2331000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5851000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
17615000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5931000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
11684000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11034000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3360000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
11034000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3360000
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
163000
CY2019 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
195000

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