2022 Q1 Form 10-Q Financial Statement
#000156459022019931 Filed on May 12, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| Revenue | $7.234M | $6.956M |
| YoY Change | 4.0% | 173.32% |
| Cost Of Revenue | $6.205M | $5.790M |
| YoY Change | 7.17% | 42.26% |
| Gross Profit | $1.029M | $1.170M |
| YoY Change | -12.05% | -176.47% |
| Gross Profit Margin | 14.22% | 16.82% |
| Selling, General & Admin | $9.230M | $6.203M |
| YoY Change | 48.8% | -4.53% |
| % of Gross Profit | 896.99% | 530.17% |
| Research & Development | $6.656M | $4.270M |
| YoY Change | 55.88% | -13.53% |
| % of Gross Profit | 646.84% | 364.96% |
| Depreciation & Amortization | $300.0K | $400.0K |
| YoY Change | -25.0% | -20.0% |
| % of Gross Profit | 29.15% | 34.19% |
| Operating Expenses | $15.89M | $6.203M |
| YoY Change | 156.1% | -45.75% |
| Operating Profit | -$14.86M | -$9.702M |
| YoY Change | 53.13% | -28.46% |
| Interest Expense | $1.650M | $1.013M |
| YoY Change | 62.88% | -28.51% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$1.638M | -$958.0K |
| YoY Change | 70.98% | -30.98% |
| Pretax Income | -$16.50M | -$10.66M |
| YoY Change | 54.74% | -28.7% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$16.50M | -$10.66M |
| YoY Change | 54.74% | -28.69% |
| Net Earnings / Revenue | -228.02% | -153.25% |
| Basic Earnings Per Share | -$4.86 | |
| Diluted Earnings Per Share | -$97.11K | -$71.92K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 3.397M | |
| Diluted Shares Outstanding | 3.397M |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $19.39M | $33.31M |
| YoY Change | -41.8% | -8.29% |
| Cash & Equivalents | $9.397M | $10.69M |
| Short-Term Investments | $9.989M | $22.62M |
| Other Short-Term Assets | $4.584M | $2.720M |
| YoY Change | 68.53% | 58.14% |
| Inventory | $5.172M | $4.525M |
| Prepaid Expenses | ||
| Receivables | $4.361M | $4.030M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $33.50M | $44.59M |
| YoY Change | -24.86% | 1.88% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $4.778M | $4.202M |
| YoY Change | 13.71% | -0.71% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | $10.00M | |
| YoY Change | ||
| Other Assets | $1.286M | $660.0K |
| YoY Change | 94.85% | 69.23% |
| Total Long-Term Assets | $15.54M | $25.46M |
| YoY Change | -38.98% | 235.8% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $33.50M | $44.59M |
| Total Long-Term Assets | $15.54M | $25.46M |
| Total Assets | $49.04M | $70.05M |
| YoY Change | -29.99% | 36.42% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $3.385M | $3.910M |
| YoY Change | -13.43% | 131.36% |
| Accrued Expenses | $8.950M | $6.094M |
| YoY Change | 46.87% | -39.24% |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $12.67M | $10.40M |
| YoY Change | 21.86% | -81.97% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $48.26M | $45.86M |
| YoY Change | 5.23% | |
| Other Long-Term Liabilities | $13.76M | $3.645M |
| YoY Change | 277.5% | 164.13% |
| Total Long-Term Liabilities | $62.02M | $3.645M |
| YoY Change | 1601.43% | 164.13% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $12.67M | $10.40M |
| Total Long-Term Liabilities | $62.02M | $3.645M |
| Total Liabilities | $74.69M | $70.62M |
| YoY Change | 5.76% | 19.59% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$488.7M | -$433.6M |
| YoY Change | 12.71% | 10.87% |
| Common Stock | $433.1M | |
| YoY Change | 12.94% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | -$25.65M | -$566.0K |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $49.04M | $70.05M |
| YoY Change | -29.99% | 36.41% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q1 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$16.50M | -$10.66M |
| YoY Change | 54.74% | -28.69% |
| Depreciation, Depletion And Amortization | $300.0K | $400.0K |
| YoY Change | -25.0% | -20.0% |
| Cash From Operating Activities | -$14.44M | -$8.708M |
| YoY Change | 65.84% | -40.92% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $29.00K | $197.0K |
| YoY Change | -85.28% | 194.03% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $2.750M |
| YoY Change | -100.0% | |
| Cash From Investing Activities | -$29.00K | $2.553M |
| YoY Change | -101.14% | -3910.45% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 1.202M | 53.00K |
| YoY Change | 2167.92% | -99.87% |
| NET CHANGE | ||
| Cash From Operating Activities | -14.44M | -8.708M |
| Cash From Investing Activities | -29.00K | 2.553M |
| Cash From Financing Activities | 1.202M | 53.00K |
| Net Change In Cash | -13.27M | -6.102M |
| YoY Change | 117.44% | -124.13% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$14.44M | -$8.708M |
| Capital Expenditures | $29.00K | $197.0K |
| Free Cash Flow | -$14.47M | -$8.905M |
| YoY Change | 62.49% | -39.86% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2021Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
6956000 | |
| CY2022Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
6656000 | |
| CY2022Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
9230000 | |
| CY2021Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
6203000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
1798000 | |
| CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-9702000 | |
| CY2022Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
3000 | |
| CY2021Q1 | us-gaap |
Investment Income Interest
InvestmentIncomeInterest
|
6000 | |
| CY2022Q1 | us-gaap |
Interest Expense
InterestExpense
|
1650000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1426000 | |
| CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
553000 | |
| CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-14857000 | |
| CY2022Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
22091000 | |
| CY2021Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
16658000 | |
| CY2021Q1 | us-gaap |
Interest Expense
InterestExpense
|
1013000 | |
| CY2021Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
49000 | |
| CY2022Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1638000 | |
| CY2021Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-958000 | |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10660000 | |
| CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
|
-7000 | |
| CY2021Q1 | us-gaap |
Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
|
9000 | |
| CY2021Q1 | us-gaap |
Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
|
2000 | |
| CY2022Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-7000 | |
| CY2021Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
7000 | |
| CY2022Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-16502000 | |
| CY2021Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
7000 | |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-12903000 | |
| CY2022Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
230000 | |
| CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-16495000 | |
| CY2021Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-10660000 | |
| CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
286000 | |
| CY2021Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
383000 | |
| CY2021Q1 | us-gaap |
Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
|
38000 | |
| CY2022Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
294000 | |
| CY2021Q1 | us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
428000 | |
| CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2552000 | |
| CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1308000 | |
| CY2021Q1 | us-gaap |
Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
|
829000 | |
| CY2021Q1 | us-gaap |
Debt Securities Available For Sale Gain Loss
DebtSecuritiesAvailableForSaleGainLoss
|
2000 | |
| CY2022Q1 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
543000 | |
| CY2021Q1 | us-gaap |
Paid In Kind Interest
PaidInKindInterest
|
915000 | |
| CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-773000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-1065000 | |
| CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1476000 | |
| CY2022Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of Business </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:3.4%;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-bottom:0pt;margin-top:18pt;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:3.4%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">At March 31, 2022, the Company had cash, cash equivalents, marketable securities and restricted cash of $20.5 million, an accumulated deficit of $488.7 million, stockholders’ deficit of $25.7 million, and has historically experienced cash outflows from operating activities. 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:3.86%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company is subject to 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:3.86%;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 March 31, 2022, 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. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.86%;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;">Since </span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">authorization from the United States Food and Drug Administration, or FDA, </span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">was obtained to market the T2Dx</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> Instrument</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, T2Candida</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> Panel</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, and T2Bacteria</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> Panel</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, and E</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">mergency Use Authorization, or EUA, </span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">was issued </span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">for </span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">the </span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">T2SARS-CoV-2</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> Panel</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">, the Company has incurred significant commercialization expenses related to product sales, marketing, manufacturing and distribution. </span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If the FDA rescinds EUA, the Company would be unable to sell its </span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">T2SARS-CoV-2</span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> tests. </span><span style="font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 T2Dx, T2Candida, T2Bacteria, T2SARS-CoV-2, and other product candidates.</span></p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:3.4%;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 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.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.4%;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 $20.5 million at March 31, 2022 will not be sufficient to fund its current operating plan at least one year from issuance of these financial statements, as certain elements of our operating plan cannot be considered probable. Absent any reductions in current operating expenses, the Company believes it will require additional financing during the third quarter of 2022. Under ASC 205-40, the future receipt of potential funding from Co-Development partners and other resources cannot be considered probable at this time because none of the plans are entirely within the Company’s control.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.4%;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, 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:3.4%;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 </span>$1.00 <span style="color:#000000;">per share requirement for continued listing on the Nasdaq Global Market under Nasdaq Listing Rule 5450(a)(1). Under Nasdaq rules, the Company has 180 days (May 4, 2022) to regain compliance by increasing the stock price to over </span>$1.00. On May 5, 2022, the Company received a letter from Nasdaq informing the Company that its shares of common stock have failed to comply with the $1.00 minimum bid price required for continued listing and, as a result, the Company’s shares are subject to delisting. The letter further stated that the Company may appeal the Nasdaq Staff delisting determination to a Nasdaq listing qualifications hearings panel (the “Panel”).</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:3.4%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has filed an appeal and hearing request to the Nasdaq Staff’s determination which will stay the delisting of the Company’s shares of common stock from Nasdaq pending the Panel’s decision. The Nasdaq Staff has informed the Company that the delisting action has been stayed, pending a final written decision by the Panel, and the hearing date has been set for June 2, 2022. There can be no assurance that the Panel will grant the Company’s request for continued listing; however, the Company intends to present a plan to regain compliance to the Panel that includes a discussion of the events that it believes will enable it to regain compliance in this timeframe and a commitment to effect a reverse stock split, if necessary.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:3.4%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="color:#000000;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.</span><span style="color:#000000;"> </span><span style="color:#000000;">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.</span></p> | |
| CY2022Q1 | ttoo |
Cash Cash Equivalents Marketable Securities And Restricted Cash
CashCashEquivalentsMarketableSecuritiesAndRestrictedCash
|
20500000 | |
| CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
502000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
|
-978000 | |
| CY2022Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-161000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
27000 | |
| CY2021Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
28000 | |
| CY2022Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1534000 | |
| CY2022Q1 | ttoo |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
-278000 | |
| CY2021Q1 | ttoo |
Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
|
-747000 | |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-14441000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-8708000 | |
| CY2021Q1 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
2750000 | |
| CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
29000 | |
| CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
197000 | |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-29000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
2553000 | |
| CY2022Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
230000 | |
| CY2021Q1 | ttoo |
Proceeds From Issuance Of Shares From Employee Stock Purchase Plan And Stock Option Exercises
ProceedsFromIssuanceOfSharesFromEmployeeStockPurchasePlanAndStockOptionExercises
|
53000 | |
| CY2022Q1 | ttoo |
Proceeds From Issuance Initial Public Offering Net Of Offering Costs
ProceedsFromIssuanceInitialPublicOfferingNetOfOfferingCosts
|
1432000 | |
| CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1202000 | |
| CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
53000 | |
| CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-13268000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-6102000 | |
| 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 | |
| CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
10528000 | |
| CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
11242000 | |
| CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
1106000 | |
| CY2021Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
928000 | |
| CY2022Q1 | ttoo |
Transfer Of T2 Owned Instruments And Components To From Inventory
TransferOfT2OwnedInstrumentsAndComponentsToFromInventory
|
-271000 | |
| CY2021Q1 | ttoo |
Transfer Of T2 Owned Instruments And Components To From Inventory
TransferOfT2OwnedInstrumentsAndComponentsToFromInventory
|
-537000 | |
| CY2022Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
134000 | |
| CY2021Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
100000 | |
| CY2022Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
9397000 | |
| CY2021Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
10691000 | |
| CY2022Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
1131000 | |
| CY2021Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
551000 | |
| CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
10528000 | |
| CY2022Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-488700000 | |
| CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-25700000 | |
| CY2022Q1 | ttoo |
Cash Cash Equivalents Marketable Securities And Restricted Cash
CashCashEquivalentsMarketableSecuritiesAndRestrictedCash
|
20500000 | |
| CY2021Q4 | ttoo |
Minimum Bid Price Of Common Stock
MinimumBidPriceOfCommonStock
|
1.00 | |
| CY2022Q1 | us-gaap |
Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
|
10000000 | |
| CY2022Q1 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
10000000 | |
| 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 | |
| CY2022Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
9989000 | |
| CY2021Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
10000000 | |
| CY2022Q1 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
1106000 | |
| CY2021Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
974000 | |
| CY2022Q1 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | |
| CY2022Q1 | us-gaap |
Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
|
0 | |
| CY2022Q1 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
11000 | |
| CY2022Q1 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
9989000 | |
| 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 | |
| CY2022Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1195000 | |
| CY2022Q1 | us-gaap |
Guarantees Indemnifications And Warranties Policies
GuaranteesIndemnificationsAndWarrantiesPolicies
|
<p style="margin-bottom:0pt;margin-top:18pt;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:3.4%;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:3.4%;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:3.4%;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-bottom:0pt;margin-top:12pt;text-indent:3.4%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of March 31, 2022 and December 31, 2021, 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> | |
| CY2022Q1 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
7234000 | |
| CY2022Q1 | us-gaap |
Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
|
200000 | |
| CY2022Q1 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Explanation
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionExplanation
|
The Company expects to recognize 86% of this amount as revenue within one year and the remainder within two years. | |
| CY2022Q1 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.86 | |
| CY2022Q1 | us-gaap |
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
|
P1Y | |
| CY2022Q1 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
200000 | |
| CY2021Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1174000 | |
| CY2022Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
994000 | |
| CY2021Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
869000 | |
| CY2022Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
8950000 | |
| CY2022Q1 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
2400000 | |
| CY2021Q4 | us-gaap |
Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
|
1591000 | |
| CY2022Q1 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
1418000 | |
| CY2021Q4 | us-gaap |
Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
|
953000 | |
| CY2022Q1 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
1354000 | |
| CY2021Q4 | us-gaap |
Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
|
1365000 | |
| CY2022Q1 | us-gaap |
Inventory Net
InventoryNet
|
5172000 | |
| CY2021Q4 | us-gaap |
Inventory Net
InventoryNet
|
3909000 | |
| CY2022Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
20472000 | |
| CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
20107000 | |
| CY2022Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
15694000 | |
| CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
15432000 | |
| CY2022Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4778000 | |
| CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
4675000 | |
| CY2022Q1 | us-gaap |
Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
|
1200000 | |
| CY2021Q4 | us-gaap |
Inventory Work In Process And Raw Materials
InventoryWorkInProcessAndRawMaterials
|
1400000 | |
| CY2022Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
300000 | |
| CY2021Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
400000 | |
| CY2022Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4320000 | |
| CY2021Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3687000 | |
| CY2022Q1 | ttoo |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
914000 | |
| CY2021Q4 | ttoo |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
1250000 | |
| CY2022Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
421000 | |
| CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
384000 | |
| CY2021Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
8338000 | |
| CY2022Q1 | ttoo |
Debt Instrument Carrying Amount Including Paid In Kind Interest Before Unamortized Discount And Issuance Costs
DebtInstrumentCarryingAmountIncludingPaidInKindInterestBeforeUnamortizedDiscountAndIssuanceCosts
|
51140000 | |
| CY2021Q4 | ttoo |
Debt Instrument Carrying Amount Including Paid In Kind Interest Before Unamortized Discount And Issuance Costs
DebtInstrumentCarryingAmountIncludingPaidInKindInterestBeforeUnamortizedDiscountAndIssuanceCosts
|
49364000 | |
| CY2022Q1 | ttoo |
Debt Instrument Unaccrued Paid In Kind Interest
DebtInstrumentUnaccruedPaidInKindInterest
|
2642000 | |
| CY2021Q4 | ttoo |
Debt Instrument Unaccrued Paid In Kind Interest
DebtInstrumentUnaccruedPaidInKindInterest
|
1287000 | |
| CY2022Q1 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
241000 | |
| CY2021Q4 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
287000 | |
| CY2022Q1 | us-gaap |
Notes Payable
NotesPayable
|
48257000 | |
| CY2021Q4 | us-gaap |
Notes Payable
NotesPayable
|
47790000 | |
| CY2022Q1 | us-gaap |
Debt Instrument Maturity Date
DebtInstrumentMaturityDate
|
2023-12-30 | |
| CY2021Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
200000000 | |
| CY2021Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
400000000 | |
| CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
23932410 | |
| CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
16929772 | |
| CY2022Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
600000 | |
| CY2021Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
600000 | |
| CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2545000 | |
| CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1293000 |
