2021 Q4 Form 10-K Financial Statement
#000156459022011526 Filed on March 23, 2022
Income Statement
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
Revenue | $6.980M | $28.06M | $7.790M |
YoY Change | -10.4% | 54.76% | 153.83% |
Cost Of Revenue | $5.362M | $20.70M | $7.480M |
YoY Change | -28.32% | 0.11% | 107.2% |
Gross Profit | $1.618M | $7.355M | $310.0K |
YoY Change | 421.94% | -388.43% | -157.41% |
Gross Profit Margin | 23.18% | 26.21% | 3.98% |
Selling, General & Admin | $6.544M | $28.53M | $4.600M |
YoY Change | 42.26% | 37.22% | -39.04% |
% of Gross Profit | 404.45% | 387.86% | 1483.87% |
Research & Development | $5.353M | $21.80M | $4.040M |
YoY Change | 32.5% | 28.85% | -5.59% |
% of Gross Profit | 330.84% | 296.41% | 1303.23% |
Depreciation & Amortization | $270.0K | $1.300M | $390.0K |
YoY Change | -30.77% | -23.98% | -23.53% |
% of Gross Profit | 16.69% | 17.68% | 125.81% |
Operating Expenses | $11.90M | $50.33M | $8.630M |
YoY Change | 37.86% | 33.46% | -27.02% |
Operating Profit | -$10.28M | -$42.97M | -$8.320M |
YoY Change | 23.55% | 3.91% | -32.72% |
Interest Expense | -$1.860M | $6.586M | -$1.600M |
YoY Change | 16.25% | 19.35% | -5.33% |
% of Operating Profit | |||
Other Income/Expense, Net | -$5.000K | -$6.268M | $10.00K |
YoY Change | -150.0% | 15.18% | -50.0% |
Pretax Income | -$12.14M | -$49.24M | -$9.910M |
YoY Change | 22.54% | 5.22% | -29.42% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$12.14M | -$49.24M | -$9.910M |
YoY Change | 22.54% | 5.22% | -29.42% |
Net Earnings / Revenue | -173.98% | -175.5% | -127.21% |
Basic Earnings Per Share | -$15.50 | ||
Diluted Earnings Per Share | -$73.05K | -$310.0K | -$66.86K |
COMMON SHARES | |||
Basic Shares Outstanding | 3.177M | ||
Diluted Shares Outstanding | 3.177M |
Balance Sheet
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $32.24M | $32.24M | $42.19M |
YoY Change | -23.58% | -23.58% | 282.5% |
Cash & Equivalents | $22.25M | $22.25M | $16.79M |
Short-Term Investments | $9.996M | $9.996M | $25.40M |
Other Short-Term Assets | $3.110M | $3.110M | $2.660M |
YoY Change | 16.92% | 16.92% | 84.72% |
Inventory | $3.909M | $3.909M | $3.636M |
Prepaid Expenses | |||
Receivables | $5.134M | $5.134M | $5.099M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $44.39M | $44.39M | $53.58M |
YoY Change | -17.15% | -17.14% | 183.59% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $4.675M | $14.44M | $3.771M |
YoY Change | 23.97% | -2.49% | -35.48% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $0.00 | $0.00 | $10.00M |
YoY Change | -100.0% | -100.0% | |
Other Assets | $153.0K | $1.704M | $136.0K |
YoY Change | 12.5% | 146.96% | -33.98% |
Total Long-Term Assets | $16.15M | $16.15M | $25.49M |
YoY Change | -36.67% | -36.69% | 165.81% |
TOTAL ASSETS | |||
Total Short-Term Assets | $44.39M | $44.39M | $53.58M |
Total Long-Term Assets | $16.15M | $16.15M | $25.49M |
Total Assets | $60.54M | $60.54M | $79.08M |
YoY Change | -23.44% | -23.45% | 177.6% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.832M | $2.832M | $2.058M |
YoY Change | 37.61% | 37.48% | -45.16% |
Accrued Expenses | $8.338M | $8.338M | $7.512M |
YoY Change | 11.0% | 11.03% | -32.97% |
Deferred Revenue | $518.0K | $230.0K | |
YoY Change | 125.22% | -19.3% | |
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $0.00 | ||
YoY Change | -100.0% | ||
Total Short-Term Liabilities | $11.69M | $11.69M | $9.800M |
YoY Change | 19.27% | 19.27% | -83.82% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $47.79M | $47.79M | $45.24M |
YoY Change | 5.64% | 5.64% | |
Other Long-Term Liabilities | $4.577M | $13.96M | $3.350M |
YoY Change | 36.63% | -8.85% | 74.48% |
Total Long-Term Liabilities | $4.577M | $61.75M | $3.350M |
YoY Change | 36.63% | 1.97% | 74.48% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $11.69M | $11.69M | $9.800M |
Total Long-Term Liabilities | $4.577M | $61.75M | $3.350M |
Total Liabilities | $16.27M | $73.44M | $13.15M |
YoY Change | 23.69% | 4.4% | -78.96% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$472.2M | -$423.0M | |
YoY Change | 11.64% | 12.44% | |
Common Stock | $459.3M | $431.7M | |
YoY Change | 6.4% | 26.16% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | -$12.90M | -$12.90M | $8.726M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $60.54M | $60.54M | $79.08M |
YoY Change | -23.44% | -23.45% | 177.6% |
Cashflow Statement
Concept | 2021 Q4 | 2021 | 2020 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$12.14M | -$49.24M | -$9.910M |
YoY Change | 22.54% | 5.22% | -29.42% |
Depreciation, Depletion And Amortization | $270.0K | $1.300M | $390.0K |
YoY Change | -30.77% | -23.98% | -23.53% |
Cash From Operating Activities | -$9.842M | -$38.87M | -$8.750M |
YoY Change | 12.48% | -10.05% | -13.54% |
INVESTING ACTIVITIES | |||
Capital Expenditures | -$199.0K | $460.0K | -$370.0K |
YoY Change | -46.22% | -42.79% | 1750.0% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $10.00M | $25.25M | $6.750M |
YoY Change | 48.15% | -171.21% | |
Cash From Investing Activities | $9.801M | $24.79M | $6.370M |
YoY Change | 53.86% | -168.37% | -31950.0% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 239.0K | 20.54M | 110.0K |
YoY Change | 117.27% | -76.01% | -97.78% |
NET CHANGE | |||
Cash From Operating Activities | -9.842M | -38.87M | -8.750M |
Cash From Investing Activities | 9.801M | 24.79M | 6.370M |
Cash From Financing Activities | 239.0K | 20.54M | 110.0K |
Net Change In Cash | 198.0K | 6.452M | -2.270M |
YoY Change | -108.72% | 5.24% | -56.18% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$9.842M | -$38.87M | -$8.750M |
Capital Expenditures | -$199.0K | $460.0K | -$370.0K |
Free Cash Flow | -$9.643M | -$39.33M | -$8.380M |
YoY Change | 15.07% | -10.64% | -17.03% |
Facts In Submission
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2274000 | |
CY2021 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
467000 | |
CY2020 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1152000 | |
CY2021 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1940000 | |
CY2020 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-441000 | |
CY2021 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
761000 | |
CY2020 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-1652000 | |
CY2021 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
769000 | |
CY2020 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
439000 | |
CY2021 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-108000 | |
CY2020 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
323000 | |
CY2021 | ttoo |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
-1151000 | |
CY2020 | ttoo |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
-2663000 | |
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-38874000 | |
CY2020 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-43215000 | |
CY2020 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
50711000 | |
CY2021 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
25251000 | |
CY2020 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
15250000 | |
CY2020 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
4000 | |
CY2021 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
460000 | |
CY2020 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
804000 | |
CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
24791000 | |
CY2020 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-36261000 | |
CY2021 | ttoo |
Proceeds From Issuance Of Shares From Employee Stock Purchase Plan And Stock Option Exercises
ProceedsFromIssuanceOfSharesFromEmployeeStockPurchasePlanAndStockOptionExercises
|
567000 | |
CY2020 | ttoo |
Proceeds From Issuance Of Shares From Employee Stock Purchase Plan And Stock Option Exercises
ProceedsFromIssuanceOfSharesFromEmployeeStockPurchasePlanAndStockOptionExercises
|
296000 | |
CY2021 | ttoo |
Proceeds From Issuance Secondary Public Offering Net Of Offering Costs
ProceedsFromIssuanceSecondaryPublicOfferingNetOfOfferingCosts
|
19968000 | |
CY2020 | ttoo |
Proceeds From Issuance Secondary Public Offering Net Of Offering Costs
ProceedsFromIssuanceSecondaryPublicOfferingNetOfOfferingCosts
|
85311000 | |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
20535000 | |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
6452000 | |
CY2020 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
6131000 | |
CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
11213000 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
23796000 | |
CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
22245000 | |
CY2020Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
16793000 | |
CY2021Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
1551000 | |
CY2020Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
551000 | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
23796000 | |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
17344000 | |
CY2021 | us-gaap |
Interest Paid Net
InterestPaidNet
|
3814000 | |
CY2020 | us-gaap |
Interest Paid Net
InterestPaidNet
|
3692000 | |
CY2021 | ttoo |
Transfer Of T2 Owned Instruments And Components To From Inventory
TransferOfT2OwnedInstrumentsAndComponentsToFromInventory
|
1667000 | |
CY2020 | ttoo |
Transfer Of T2 Owned Instruments And Components To From Inventory
TransferOfT2OwnedInstrumentsAndComponentsToFromInventory
|
478000 | |
CY2020 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
9602000 | |
CY2020 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
41000 | |
CY2021 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<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;">1. Nature of Business</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:3.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">T2 Biosystems, Inc. and its subsidiary (the “Company,” “we,” or “T2”) have operations based in Lexington, Massachusetts. T2 Biosystems, Inc. was incorporated on April 27, 2006 as a Delaware corporation. The Company is an <span style="font-style:italic;">in vitro</span> diagnostics company that has developed an innovative and proprietary technology platform that offers a rapid, sensitive and simple alternative to existing diagnostic methodologies. The Company has developed a broad set of applications aimed at lowering mortality rates, improving patient outcomes and reducing the cost of healthcare by helping medical professionals make targeted treatment decisions earlier. Our technology enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, cerebral spinal fluid and urine, and can detect cellular targets at limits of detection as low as one colony forming unit per milliliter (“CFU/mL”). The Company’s initial development efforts target the detection of pathogens that cause sepsis, which is an area of significant unmet medical need in which existing therapies could be more effective with improved diagnostics. </p> <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;">Liquidity and Going Concern</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:3.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At December 31, 2021, the Company had cash, cash equivalents, marketable securities and restricted cash of $33.8 million, an accumulated deficit of $472.2 million, stockholders’ deficit of $12.9 million, and has experienced cash outflows from operating activities over the past years. The future success of the Company is dependent on its ability to successfully commercialize its products, obtain regulatory clearance for and successfully launch its future product candidates, obtain additional capital and ultimately attain profitable operations. Historically, the Company has funded its operations primarily through its August 2014 initial public offering, its December 2015 public offering, its September 2016 private investment in public equity (“PIPE”) financing, its September 2017 public offering, its June 2018 public offering, its July 2019 establishment of an Equity Distribution Agreement and Equity Purchase Agreement (Note 7), its March 2021 establishment of an Equity Distribution Agreement (Note 7), private placements of redeemable convertible preferred stock and through debt financing arrangements. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.68%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to a number of risks similar to other early commercial stage life science companies, including, but not limited to commercially launching the Company’s products, development and market acceptance of the Company’s product candidates, development by its competitors of new technological innovations, protection of proprietary technology, and raising additional capital.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.68%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The COVID-19 pandemic has impacted and may continue to impact operations. The Company has established protocols for continued manufacturing, distribution and servicing of its products with safe social distancing and personal protective equipment measures and for remote work for certain employees not essential to on-site operations. To date these measures have been mostly successful but may not continue to function should the pandemic escalate and impact personnel. In 2020, the Company’s hospital customers restricted the sales team’s access to their facilities and as a result, the Company had significantly reduced sales and general and administrative staffing levels at the beginning of the COVID-19 pandemic to reduce expenses. The Company has since hired sales, marketing and medical and clinical affairs personnel. Although the Company did not see any material impact to accounts receivable during the period ended December 31, 2021, the Company’s exposure may increase if its customers continue to be adversely affected by the COVID-19 pandemic, including as a result of the spread of variants of the virus. Customers may reduce their purchases of products, depending on their needs and cash flow, which could negatively impact revenue. The Company has a significant development contract with BARDA and should BARDA reduce, cancel or not grant additional milestone projects, the Company’s ability to continue its future product development may be impacted. The ability of the Company’s shipping carriers to deliver products to customers may be disrupted. The Company has reviewed its suppliers and quantities of key materials and believes that it has sufficient stocks and alternate sources of critical materials including personal protective equipment should the supply chains become disrupted, although raw materials and plastics for the manufacturing of reagents and consumables are in high demand, and interruptions in supply are difficult to predict. As further described in Note 5, at the onset of the pandemic, the Company believed the pandemic’s impact on its sales would affect the recoverability of the value of T2-owned instruments and components. In early 2020, the COVID-19 pandemic also caused the Company to reassess its build plan and evaluate its inventories accordingly, which resulted in an additional charge to cost of product revenue for excess inventories.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.68%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Since FDA authorization was obtained to market the T2Dx Instrument, T2Candida Panel, and T2Bacteria Panel, and EUA was issued for the T2SARS-CoV-2 Panel, the Company has incurred significant commercialization expenses related to product sales, marketing, manufacturing and distribution. The Company may seek to fund its operations through public equity, private equity or debt financings, as well as other sources. However, the Company may be unable to raise additional funds or enter into such other arrangements when needed, on favorable terms, or at all. The Company’s failure to raise capital or enter into such other arrangements if and when needed would have a negative impact on the Company’s business, results of operations, financial condition and the Company’s ability to develop and commercialize the T2Dx Instrument, T2Candida, T2Bacteria, T2SARS-CoV-2, and other product candidates.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:3.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of Accounting Standards Codification (“ASC”) 205-40, <span style="font-style:italic;">Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</span>, management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. This evaluation initially does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented as of the date the financial statements are issued. When substantial doubt exists under this methodology, management evaluates </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of management’s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued, and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the financial statements are issued.</span></p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company believes that its cash, cash equivalents, marketable securities and restricted cash of $33.8 million at December 31, 2021 will not be sufficient to fund its current operating plan at least one year from issuance of these financial statements unless additional funds are raised. Certain elements of our operating plan cannot be considered probable. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Term Loan Agreement with CRG Servicing LLC (“CRG”) (Note 6) has certain covenants which require the Company to achieve certain annual revenue targets, whereby the Company is required to pay double the amount of any shortfall as an acceleration of principal payments, and maintain a minimum cash balance of $5.0 million. In June 2021, the Company achieved the revenue target for the twenty-four month period ended December 31, 2021.There can be no assurances that it will continue to be in compliance with the cash covenant in future periods without additional funding. In February 2022, the CRG amended the Term Loan Agreement, extending the interest only period and maturity to December 30, 2023. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s stock has been trading under $1.00. <span style="color:#000000;">On November 5, 2021, the Company received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, for the last thirty consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1). </span>Under Nasdaq rules, the Company has 180 days (May 4, 2022) to regain compliance by increasing the stock price to over $1.00. The Company plans to regain compliance by executing on its operating plans to organically drive the share price to compliance. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">These conditions raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year after the date that the financial statements are issued. Management's plans to alleviate the conditions that raise substantial doubt include raising additional funding, earning payments pursuant to the Company’s contract with BARDA, delaying certain research projects and capital expenditures and eliminating certain future operating expenses in order to fund operations at reduced levels for the Company to continue as a going concern for a period of 12 months from the date the financial statements are issued. Management has concluded the likelihood that its plan to successfully obtain sufficient funding from one or more of these sources or adequately reduce expenditures, while reasonably possible, is less than probable. Accordingly, the Company has concluded that substantial doubt exists about the Company’s ability to continue as a going concern for a period of at least 12 months from the date of issuance of these consolidated financial statements.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;"> </p> | |
CY2021Q4 | ttoo |
Cash Cash Equivalents Marketable Securities And Restricted Cash
CashCashEquivalentsMarketableSecuritiesAndRestrictedCash
|
33800000 | |
CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-472200000 | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-12900000 | |
CY2021Q4 | ttoo |
Cash Cash Equivalents Marketable Securities And Restricted Cash
CashCashEquivalentsMarketableSecuritiesAndRestrictedCash
|
33800000 | |
CY2021Q4 | ttoo |
Minimum Bid Price Of Common Stock
MinimumBidPriceOfCommonStock
|
1.00 | |
CY2021 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-top:8pt;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="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:3.24%;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‑specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from such estimates.</p> | |
CY2021Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
500000 | |
CY2020Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
600000 | |
CY2021 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
500000 | |
CY2021Q4 | ttoo |
Number Of Financial Institutions
NumberOfFinancialInstitutions
|
2 | |
CY2020Q4 | ttoo |
Number Of Financial Institutions
NumberOfFinancialInstitutions
|
2 | |
CY2021 | us-gaap |
Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
|
0 | |
CY2020 | us-gaap |
Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
|
0 | |
CY2021Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
10000000 | |
CY2021Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
4000 | |
CY2021Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
9996000 | |
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 | |
CY2021 | us-gaap |
Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
|
100000 | |
CY2021 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
698000 | |
CY2020 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
754000 | |
CY2021 | us-gaap |
Lease Cost
LeaseCost
|
3099000 | |
CY2020 | us-gaap |
Lease Cost
LeaseCost
|
2699000 | |
CY2021Q4 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
|
10000000 | |
CY2021Q4 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
|
9996000 | |
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 | |
CY2021Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
10000000 | |
CY2021Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
9996000 | |
CY2020Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
35389000 | |
CY2020Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
35398000 | |
CY2021Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
0 | |
CY2020Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
0 | |
CY2021Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1591000 | |
CY2020Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1496000 | |
CY2021Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
953000 | |
CY2020Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
1374000 | |
CY2021Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
1365000 | |
CY2020Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
766000 | |
CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
3909000 | |
CY2020Q4 | us-gaap |
Inventory Net
InventoryNet
|
3636000 | |
CY2021 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
28058000 | |
CY2020 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
18130000 | |
CY2021Q4 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
300000 | |
CY2021 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
|
The Company expects to recognize 97% of this amount as revenue within one year and the remainder within two years. | |
CY2021Q4 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.97 | |
CY2021Q4 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
|
P1Y | |
CY2021Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
0 | |
CY2020Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
0 | |
CY2020 | us-gaap |
Production Related Impairments Or Charges
ProductionRelatedImpairmentsOrCharges
|
600000 | |
CY2020 | us-gaap |
Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
|
500000 | |
CY2021 | us-gaap |
Production Related Impairments Or Charges
ProductionRelatedImpairmentsOrCharges
|
0 | |
CY2021 | us-gaap |
Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
|
0 | |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
0 | |
CY2021Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2020Q4 | us-gaap |
Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
|
0 | |
CY2021 | 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="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:3.24%;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="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:3.24%;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="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:3.24%;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="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.24%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of December 31, 2021 and 2020, 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> | |
CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
20107000 | |
CY2020Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
18028000 | |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
15432000 | |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4675000 | |
CY2021Q4 | us-gaap |
Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
|
1400000 | |
CY2021 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1300000 | |
CY2021Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3687000 | |
CY2021Q4 | ttoo |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
1250000 | |
CY2020Q4 | ttoo |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
751000 | |
CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
384000 | |
CY2020Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
421000 | |
CY2021Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
974000 | |
CY2020Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
940000 | |
CY2021Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1174000 | |
CY2020Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1151000 | |
CY2021Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
869000 | |
CY2020Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
620000 | |
CY2021Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
8338000 | |
CY2020Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
7512000 | |
CY2021Q4 | ttoo |
Long Term Debt Maturities Repayments Of Principal And Interest In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalAndInterestInNextTwelveMonths
|
49364000 | |
CY2021Q4 | ttoo |
Debt Instrument Carrying Amount Including Paid In Kind Interest Before Unamortized Discount And Issuance Costs
DebtInstrumentCarryingAmountIncludingPaidInKindInterestBeforeUnamortizedDiscountAndIssuanceCosts
|
49364000 | |
CY2021Q4 | ttoo |
Debt Instrument Unaccrued Paid In Kind Interest
DebtInstrumentUnaccruedPaidInKindInterest
|
1287000 | |
CY2021Q4 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
287000 | |
CY2021Q4 | us-gaap |
Notes Payable
NotesPayable
|
47790000 | |
CY2021 | us-gaap |
Debt Instrument Maturity Date
DebtInstrumentMaturityDate
|
2022-12-30 | |
CY2021Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | |
CY2021Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
CY2021 | ttoo |
Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
|
1 | |
CY2020Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
CY2020Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2021Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2021Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
166400892 | |
CY2020Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
148078974 | |
CY2021Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
CY2021Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
400000000 | |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-49241000 | |
CY2020 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-46798000 | |
CY2021 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
158861418 | |
CY2020 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
121331464 | |
CY2021 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.31 | |
CY2020 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.39 | |
CY2020Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
75749000 | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
84797000 | |
CY2020Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
72404000 | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
3029000 | |
CY2020Q4 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
3345000 | |
CY2021Q4 | ttoo |
Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
|
2587000 | |
CY2021 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
2401000 | |
CY2020 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1945000 | |
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 | |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.048 | |
CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.064 | |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
|
-0.028 | |
CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
|
-0.020 | |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
|
-0.001 | |
CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
|
0.001 | |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.027 | |
CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
|
0.014 | |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
|
-0.003 | |
CY2021 | ttoo |
Effective Income Tax Rate Reconciliation Tax Credits Limitations On Credits And Net Operating Losses
EffectiveIncomeTaxRateReconciliationTaxCreditsLimitationsOnCreditsAndNetOperatingLosses
|
-0.001 | |
CY2020 | ttoo |
Effective Income Tax Rate Reconciliation Tax Credits Limitations On Credits And Net Operating Losses
EffectiveIncomeTaxRateReconciliationTaxCreditsLimitationsOnCreditsAndNetOperatingLosses
|
0.001 | |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.252 | |
CY2020 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.270 | |
CY2021 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.000 | |
CY2020 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.000 | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
73372000 | |
CY2020Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
61551000 | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
|
2783000 | |
CY2020Q4 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
|
1428000 | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
3183000 | |
CY2020Q4 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
3546000 | |
CY2021Q4 | ttoo |
Deferred Tax Assets Start Up Expenditures
DeferredTaxAssetsStartUpExpenditures
|
2392000 | |
CY2020Q4 | ttoo |
Deferred Tax Assets Start Up Expenditures
DeferredTaxAssetsStartUpExpenditures
|
2672000 | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
3305000 | |
CY2020Q4 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
|
3382000 | |
CY2021Q4 | ttoo |
Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
|
2791000 | |
CY2020Q4 | ttoo |
Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
|
3170000 | |
CY2021Q4 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
87826000 | |
CY2020Q4 | ttoo |
Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
|
2994000 | |
CY2021Q4 | us-gaap |
Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
|
442000 | |
CY2020Q4 | us-gaap |
Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
|
351000 | |
CY2021 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
12400000 | |
CY2020 | us-gaap |
Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
|
12600000 | |
CY2021Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.119 | |
CY2020Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.119 | |
CY2021Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
2345000 | |
CY2021Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
2290000 | |
CY2021Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
2358000 | |
CY2021Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
2331000 | |
CY2021Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
|
1893000 | |
CY2021Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
|
3957000 | |
CY2021Q4 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
15174000 | |
CY2021Q4 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
4641000 | |
CY2021Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
10533000 | |
CY2021Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
9766000 | |
CY2020Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
11034000 | |
CY2021Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
9766000 | |
CY2020Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
11034000 | |
CY2021Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1174000 | |
CY2020Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1151000 | |
CY2021Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
9359000 | |
CY2020Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
10533000 | |
CY2021Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
10533000 | |
CY2020Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
11684000 | |
CY2021 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
192000 | |
CY2020 | us-gaap |
Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
|
163000 | |
CY2021 | dei |
Auditor Firm
AuditorFirmId
|
243 |