$VCNX
Vaccinex Inc

2021 Q4 Form 10-K Financial Statement

#000156459022012778 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $900.0K $0.00
YoY Change 1700.0%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $900.0K $0.00
YoY Change 1775.0%
Gross Profit Margin 100.0%
Selling, General & Admin $1.564M $6.230M $1.840M
YoY Change -15.0% -15.92% -4.66%
% of Gross Profit 692.22%
Research & Development $3.954M $17.16M $4.250M
YoY Change -6.96% -20.37% -3.63%
% of Gross Profit 1906.67%
Depreciation & Amortization $41.00K $169.0K $70.00K
YoY Change -41.43% -44.95% 0.0%
% of Gross Profit 18.78%
Operating Expenses $5.518M $23.39M $6.090M
YoY Change -9.39% 8.54% -3.94%
Operating Profit -$5.518M -$22.49M -$6.090M
YoY Change -9.39% 4.6% -3.94%
Interest Expense $16.00K -$809.0K -$340.0K
YoY Change -104.71% -265.44%
% of Operating Profit
Other Income/Expense, Net -$5.000K $43.00K -$20.00K
YoY Change -75.0% -238.71% -300.0%
Pretax Income -$4.631M -$22.40M -$6.450M
YoY Change -28.2% -22.49% 1.9%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.631M -$22.38M -$6.450M
YoY Change -28.2% -22.43% 1.9%
Net Earnings / Revenue -2486.67%
Basic Earnings Per Share -$0.78
Diluted Earnings Per Share -$150.4K -$775.8K -$288.1K
COMMON SHARES
Basic Shares Outstanding 28.85M
Diluted Shares Outstanding 28.85M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.589M $8.589M $10.60M
YoY Change -18.97% -18.97% 281.29%
Cash & Equivalents $8.589M $8.589M $10.60M
Short-Term Investments
Other Short-Term Assets $816.0K $816.0K $530.0K
YoY Change 53.96% 53.96% 55.88%
Inventory
Prepaid Expenses
Receivables $0.00 $0.00 $157.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $9.405M $9.405M $11.29M
YoY Change -16.67% -16.7% 181.45%
LONG-TERM ASSETS
Property, Plant & Equipment $297.0K $438.0K $416.0K
YoY Change -28.61% 4.29% -29.97%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $438.0K $438.0K $416.0K
YoY Change 5.29% 6.83% -29.97%
TOTAL ASSETS
Total Short-Term Assets $9.405M $9.405M $11.29M
Total Long-Term Assets $438.0K $438.0K $416.0K
Total Assets $9.843M $9.843M $11.70M
YoY Change -15.89% -15.87% 154.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.061M $1.061M $3.169M
YoY Change -66.52% -66.53% -1.22%
Accrued Expenses $980.0K $1.121M $1.937M
YoY Change -49.41% -42.22% -47.22%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $8.070M
YoY Change -100.0% -100.0%
Long-Term Debt Due $74.00K $74.00K
YoY Change
Total Short-Term Liabilities $2.256M $2.256M $13.18M
YoY Change -82.88% -82.88% 91.63%
LONG-TERM LIABILITIES
Long-Term Debt $175.0K $175.0K $1.134M
YoY Change -84.57% -84.51%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $175.0K $175.0K $1.134M
YoY Change -84.57% -84.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.256M $2.256M $13.18M
Total Long-Term Liabilities $175.0K $175.0K $1.134M
Total Liabilities $2.431M $2.431M $14.31M
YoY Change -83.02% -93.65% 108.11%
SHAREHOLDERS EQUITY
Retained Earnings -$299.9M -$277.5M
YoY Change 8.06% 11.61%
Common Stock $307.3M $250.9M
YoY Change 22.46% 12.82%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.00K $11.00K
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $7.412M $7.412M -$26.58M
YoY Change
Total Liabilities & Shareholders Equity $9.843M $9.843M $11.70M
YoY Change -15.89% -15.87% 154.17%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$4.631M -$22.38M -$6.450M
YoY Change -28.2% -22.43% 1.9%
Depreciation, Depletion And Amortization $41.00K $169.0K $70.00K
YoY Change -41.43% -44.95% 0.0%
Cash From Operating Activities -$5.143M -$25.30M -$6.380M
YoY Change -19.39% -11.54% 9.81%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $32.00K $0.00
YoY Change -88.97%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$32.00K $0.00
YoY Change -88.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $32.85M
YoY Change 93.22%
Debt Paid & Issued, Net $9.000K
YoY Change
Cash From Financing Activities -9.000K 23.32M -110.0K
YoY Change -91.82% -36.55%
NET CHANGE
Cash From Operating Activities -5.143M -25.30M -6.380M
Cash From Investing Activities 0.000 -32.00K 0.000
Cash From Financing Activities -9.000K 23.32M -110.0K
Net Change In Cash -5.152M -2.007M -6.490M
YoY Change -20.62% -125.66% 11.7%
FREE CASH FLOW
Cash From Operating Activities -$5.143M -$25.30M -$6.380M
Capital Expenditures $0.00 $32.00K $0.00
Free Cash Flow -$5.143M -$25.33M -$6.380M
YoY Change -19.39% -12.32% 9.81%

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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amount of expenses during the reporting period. Such management estimates include those relating to assumptions used in the valuation of stock option awards, the valuation of derivative instruments, and valuation allowances against deferred income tax assets. Actual results could differ from those estimates.</p>
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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk, Other Risks and Uncertainties</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. Cash equivalents are deposited in interest-bearing money market accounts. Although the Company deposits its cash with multiple financial institutions, cash balances may occasionally be in excess of the amounts insured by the Federal Deposit Insurance Corporation. Management believes the financial risk associated with these balances is minimal and has not experienced any losses to date.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company depends on third-party manufacturers for the manufacture of drug substance and drug product for clinical trials. The Company also relies on certain third parties for its supply chain. Disputes with these third - party manufacturers or shortages in goods or services from third-party suppliers could delay the manufacturing of the Company’s product candidates and adversely impact its results of operations.</p>
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CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
297000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
416000
CY2021 us-gaap Depreciation
Depreciation
169000
CY2020 us-gaap Depreciation
Depreciation
307000
CY2021Q4 vcnx Accrued Clinical Trial Cost Current
AccruedClinicalTrialCostCurrent
468000
CY2020Q4 vcnx Accrued Clinical Trial Cost Current
AccruedClinicalTrialCostCurrent
987000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
409000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
428000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
74000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
225000
CY2020Q4 vcnx Accrued Interest Current
AccruedInterestCurrent
250000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
29000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
47000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
980000
CY2020Q3 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
65000
CY2020Q4 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Liability
EmbeddedDerivativeFairValueOfEmbeddedDerivativeLiability
0
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1937000
CY2021 vcnx Royalty Payments Percent Of Net Sales
RoyaltyPaymentsPercentOfNetSales
0.01
CY2021 us-gaap Lessee Operating Lease Assumptions And Judgments Discount Rate Description
LesseeOperatingLeaseAssumptionsAndJudgmentsDiscountRateDescription
The leases do not provide an implicit rate so in determining the present value of lease payments, the Company utilized its incremental borrowing rate for the applicable lease, which was 7.0%.
CY2021Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.070
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4549
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
140561
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
174000
CY2020 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
169000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
671042
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
25249
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.62
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1154563
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.55
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1550887
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3566199
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
579731
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.04
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
120000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
330845
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.45
CY2020 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3783
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.11
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
73925
CY2020 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.82
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
832868
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.83
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
346944
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.47
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.16
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.60
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.70
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
322067
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
732408
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
621996
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
628036
CY2021 vcnx Share Based Compensation Arrangement By Share Based Payment Award Options Maximum Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumContractualTerm
P10Y
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
73802000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
67737000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
541000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
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
0.053
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.051
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.055
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.082
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.006
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.002
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.324
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.341
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
21717000
CY2020Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
20513000
CY2021Q4 vcnx Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
394000
CY2020Q4 vcnx Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
424000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
96000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
229000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
449000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
381000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
9800000
CY2021 us-gaap Tax Credit Carryforward Expiration Date
TaxCreditCarryforwardExpirationDate
2021-12-31
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
96458000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
89284000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
89284000
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
7200000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
96458000
CY2021 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
from January 1, 2018 to December 31, 2021
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2021 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
174000
CY2020 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
169000

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