7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 
      
    		                                    
      assets
    		                                    
      current assets:
    		                                    
      cash and cash equivalents
    		109,833,000 44,298,000 98,637,000 123,080,000 191,581,000 71,821,000 53,695,000 35,965,000 26,295,000 35,206,000 94,562,000 71,308,000 58,547,000 71,701,000 166,412,000 495,729,000 336,328,000 332,254,000 284,148,000 250,456,000 209,154,000 221,172,000 165,317,000 171,017,000 182,898,000 146,552,000 105,853,000 113,596,000 293,408,000 57,057,000 69,474,000 81,189,000 26,669,000 30,752,000 96,754,000 51,232,000 
      receivables from collaborative partners
    		75,685,000 21,418,000 17,884,000 40,765,000 12,195,000 9,007,000 7,089,000 6,851,000 3,269,000 3,182,000 1,523,000 1,419,000 1,180,000 1,033,000 921,000 876,000 761,000                    
      short-term investments
    		139,123,000 221,412,000 241,299,000 262,293,000 238,536,000 278,983,000 300,970,000 354,939,000 386,752,000 394,280,000 336,589,000 369,933,000 384,419,000 370,450,000 339,209,000 52,368,000 37,736,000 58,597,000 96,212,000 143,197,000 129,192,000 156,706,000 197,166,000 203,210,000 238,104,000 275,664,000 309,812,000 313,486,000 200,406,000 210,852,000 178,691,000 167,218,000 89,053,000 75,607,000 6,742,000  
      prepaid expenses and other current assets
    		6,009,000 4,778,000 5,292,000 5,738,000 6,369,000 7,539,000 10,666,000 9,080,000 11,684,000 5,867,000 4,480,000 4,545,000 6,298,000 9,625,000 5,869,000 4,903,000 11,759,000 6,508,000 5,464,000 2,908,000 7,468,000 6,638,000 3,572,000 3,506,000 3,595,000 3,772,000 6,102,000 6,960,000 4,035,000 3,758,000 2,170,000 2,688,000 3,119,000 3,852,000 1,694,000 1,633,000 
      total current assets
    		330,650,000 291,906,000 363,112,000 431,876,000 448,681,000 367,350,000 372,420,000 406,835,000 428,000,000 438,535,000 437,154,000 447,205,000 450,444,000 452,809,000 512,411,000 553,876,000 386,644,000 398,061,000 387,131,000 396,561,000 345,814,000 384,516,000 371,055,000 377,733,000 424,597,000 430,988,000 421,942,000 434,216,000 503,022,000 271,819,000 251,945,000 252,696,000 120,327,000 115,848,000 110,155,000 58,208,000 
      property and equipment
    		1,500,000 1,628,000 1,741,000 1,849,000 1,728,000 1,833,000 1,954,000 2,098,000 2,254,000 2,023,000 1,982,000 2,089,000 1,972,000 2,059,000 2,162,000 2,283,000 2,413,000 2,488,000 1,754,000 1,783,000 1,585,000 1,495,000 1,610,000 1,618,000 1,695,000 1,481,000 1,584,000 1,445,000 1,344,000 1,086,000 659,000 665,000 513,000 543,000 569,000 471,000 
      operating lease right-of-use assets
    		12,994,000 13,464,000 13,923,000 14,383,000 14,839,000 15,291,000 15,732,000 16,174,000 16,613,000 17,047,000 17,471,000 17,898,000 18,320,000 18,739,000 19,147,000 19,558,000 19,778,000 20,278,000                   
      long-term investments
    		7,698,000 27,996,000 43,021,000 35,470,000 27,914,000 42,646,000 15,473,000 27,026,000 40,203,000 59,239,000 94,929,000 142,935,000 147,511,000 129,985,000 91,195,000 67,097,000 15,242,000 5,484,000 7,056,000 17,546,000 36,177,000 14,321,000 50,215,000 54,305,000 23,418,000 45,707,000 68,551,000 73,128,000 18,616,000 32,730,000 61,884,000 75,897,000 999,000 13,912,000 20,327,000  
      other long-term assets
    		256,000 256,000 256,000 256,000 256,000 256,000 256,000 256,000 256,000 256,000 256,000 256,000 256,000 256,000 256,000 256,000 258,000 258,000 477,000 602,000 1,114,000 1,354,000 1,293,000 1,481,000 1,735,000 1,913,000 2,089,000 148,000 79,000 322,000 289,000      
      total assets
    		353,098,000 335,250,000 422,053,000 483,834,000 493,418,000 427,376,000 405,835,000 452,389,000 487,326,000 517,100,000 551,792,000 610,383,000 618,503,000 603,848,000 625,171,000 643,070,000 424,335,000 426,569,000 396,418,000 416,552,000 384,750,000 401,746,000 424,233,000 435,197,000 451,505,000 480,149,000 494,226,000 508,997,000 523,121,000 306,017,000 314,837,000 329,364,000 121,945,000 130,409,000 131,111,000 62,180,000 
      liabilities and stockholders’ equity
    		                                    
      current liabilities:
    		                                    
      accounts payable
    		2,893,000 3,329,000 6,123,000 4,002,000 3,592,000 4,890,000 4,582,000 4,698,000 6,521,000 4,761,000 3,168,000 2,784,000 3,006,000 1,587,000 2,481,000 1,741,000 5,717,000 4,103,000 2,452,000 4,217,000 5,484,000 6,289,000 8,571,000 16,237,000 10,522,000 10,921,000 9,072,000 5,443,000 6,180,000 4,426,000 2,416,000 2,323,000 2,557,000 3,724,000 2,546,000 2,278,000 
      accrued expenses
    		33,171,000 30,197,000 35,952,000 39,501,000 38,401,000 33,680,000 25,903,000 30,967,000 30,916,000 35,164,000 30,956,000 21,633,000 16,453,000 16,714,000 15,763,000 12,853,000 14,075,000 15,958,000 11,826,000 15,262,000 18,139,000 12,916,000 13,781,000 11,052,000 15,286,000 14,102,000 8,400,000 8,761,000 7,145,000 4,837,000 4,405,000 4,875,000 3,604,000 3,230,000 4,330,000 3,429,000 
      current portion of operating lease liability
    		2,040,000 2,001,000 1,962,000 1,925,000 1,887,000 1,850,000 1,813,000 1,777,000 1,741,000 1,706,000 1,671,000 1,637,000 1,604,000 1,570,000 1,537,000 1,505,000 1,097,000 555,000                   
      total current liabilities
    		38,104,000 35,527,000 44,037,000 45,428,000 43,880,000 40,420,000 32,298,000 37,442,000 39,178,000 41,631,000 35,795,000 26,054,000 21,063,000 19,871,000 19,781,000 16,099,000 20,889,000 20,616,000 14,475,000 19,821,000 24,474,000 20,130,000 23,250,000 29,535,000 29,730,000 30,623,000 24,754,000 21,836,000 20,873,000 16,790,000 14,343,000 14,090,000 11,174,000 10,079,000 8,126,000 5,708,000 
      liability related to sale of future royalties
    		331,844,000 331,361,000 330,382,000 353,426,000 350,564,000 361,981,000 310,184,000 310,807,000 311,272,000 310,073,000 307,516,000 304,413,000 301,586,000 261,019,000 255,584,000 251,093,000                     
      operating lease liability, net of current portion
    		12,566,000 13,095,000 13,613,000 14,112,000 14,607,000 15,096,000 15,575,000 16,037,000 16,493,000 16,946,000 17,388,000 17,813,000 18,235,000 18,652,000 19,059,000 19,450,000 19,838,000 20,222,000                   
      stockholders’ (deficit) equity:
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at september 30, 2025 and december 31, 2024, respectively
    		                                    
      common stock
    		28,000 28,000 30,000 30,000 30,000 27,000 27,000 27,000 27,000 27,000 27,000 29,000 28,000 28,000 28,000 28,000 27,000 27,000 27,000 27,000 27,000 27,000 27,000 27,000 27,000 27,000 27,000 27,000 27,000 24,000 24,000 24,000 20,000 20,000 20,000 3,000 
      additional paid in capital
    		792,682,000 792,531,000 832,486,000 829,860,000 821,121,000 714,959,000 706,407,000 702,969,000 694,591,000 686,611,000 689,065,000 717,797,000 707,662,000 698,701,000 691,161,000 678,575,000 672,996,000 668,429,000 664,147,000 660,665,000  654,492,000 651,680,000 648,669,000 644,148,000 640,550,000 636,692,000 633,251,000 629,887,000 399,370,000 395,424,000 393,017,000 179,551,000 178,297,000 176,507,000 16,672,000 
      accumulated other comprehensive gain
    		47,000 -6,000 161,000 305,000 759,000                                
      accumulated deficit
    		-822,173,000 -837,286,000 -798,656,000 -759,327,000 -737,543,000 -704,692,000 -658,032,000 -614,096,000 -571,885,000 -534,577,000 -494,732,000 -450,477,000 -424,064,000 -390,562,000 -358,008,000 -321,753,000 -289,215,000 -282,549,000 -282,120,000 -263,957,000 -297,603,000 -273,836,000 -252,288,000 -244,026,000 -223,763,000 -192,730,000 -168,768,000 -146,690,000 -129,696,000 -113,738,000 -100,120,000 -85,034,000 -78,173,000 -69,083,000 -66,399,000 -54,923,000 
      total stockholders’ (deficit) equity
    		-29,416,000 -44,733,000                                   
      total liabilities and stockholders’ (deficit) equity
    		353,098,000                                    
      stockholders’ equity:
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at june 30, 2025 and december 31, 2024, respectively
    		                                    
      total liabilities and stockholders’ equity
    		 335,250,000 422,053,000 483,834,000 493,418,000 427,376,000 405,835,000 452,389,000 487,326,000 517,100,000 551,792,000 610,383,000 618,503,000 603,848,000 625,171,000 643,070,000 424,335,000 426,569,000 396,418,000 416,552,000 384,750,000 401,746,000 424,233,000  451,505,000 480,149,000 494,226,000          
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at march 31, 2025 and december 31, 2024, respectively
    		                                    
      total stockholders’ equity
    		  34,021,000 70,868,000 84,367,000 9,879,000 47,778,000 88,103,000 120,383,000 148,450,000 191,093,000 262,103,000 277,619,000 304,306,000 330,747,000 356,428,000 383,608,000 385,731,000 381,943,000 396,731,000 360,243,000 381,436,000 400,564,000 405,008,000 420,892,000 448,421,000 468,155,000 486,365,000 499,677,000 284,979,000 294,527,000 307,581,000 101,355,000 109,175,000 110,115,000  
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at december 31, 2024 and december 31, 2023, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at september 30, 2024 and december 31, 2023, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at june 30, 2024 and december 31, 2023, respectively
    		                                    
      accumulated other comprehensive loss
    		     -415,000 -624,000 -797,000 -2,350,000 -3,611,000 -3,267,000 -5,246,000 -6,007,000 -3,861,000 -2,434,000 -422,000 -200,000 -176,000 -111,000         -223,000 -541,000 -677,000 -801,000 -426,000 -43,000 -59,000   
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at march 31, 2024 and december 31, 2023, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at december 31, 2023 and december 31, 2022, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at september 30, 2023 and december 31, 2022, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at june 30, 2023 and december 31, 2022, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at march 31, 2023 and december 31, 2022, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at december 31, 2022 and december 31, 2021, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at september 30, 2022 and december 31, 2021, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at june 30, 2022 and december 31, 2021, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at march 31, 2022 and december 31, 2021, respectively
    		                                    
      long-term restricted cash
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at december 31, 2021 and december 31, 2020, respectively
    		                                    
      short-term restricted cash
    		                60,000                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at september 30, 2021 and december 31, 2020, respectively
    		                                    
      receivable from collaborative partners
    		                 642,000 1,247,000    5,000,000   5,000,000   5,000,000       1,225,000 
      restricted cash
    		                 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at june 30, 2021 and december 31, 2020, respectively
    		                                    
      other current liabilities
    		                  197,000 342,000 851,000 925,000 898,000 871,000 845,000 819,000 794,000 58,000 48,000 27,000 22,000 17,000 13,000   1,000 
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at march 31, 2021 and december 31, 2020, respectively
    		                                    
      notes payable, current portion
    		                       1,375,000 3,077,000 4,781,000 6,488,000 7,574,000 7,500,000 7,500,000 7,500,000 6,875,000 5,000,000 3,125,000 1,250,000  
      other long-term liabilities
    		                    33,000 180,000 419,000 654,000 883,000 1,105,000 1,317,000          
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at december 31, 2020 and december 31, 2019, respectively
    		                                    
      accumulated other comprehensive income
    		                   -4,000 259,000 753,000 1,145,000 338,000 480,000 574,000 204,000        -13,000  
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at september 30, 2020 and december 31, 2019, respectively
    		                                    
      additional paid-in capital
    		                    657,560,000                
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at june 30, 2020 and december 31, 2019, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at march 31, 2020 and december 31, 2019, respectively
    		                                    
      australian tax incentive receivable
    		                          175,000 174,000 173,000 152,000 1,610,000 1,601,000 1,486,000 5,637,000 4,965,000 4,118,000 
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at december 31, 2019 and december 31, 2018, respectively
    		                                    
      total liabilities, preferred stock and stockholders’ equity
    		                       435,197,000    508,997,000 523,121,000 306,017,000 314,837,000      
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at september 30, 2019 and december 31, 2018, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at june 30, 2019 and december 31, 2018, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at march 31, 2019 and december 31, 2018, respectively
    		                                    
      liabilities, preferred stock andstockholders’ equity
    		                                    
      notes payable, net of current portion
    		                           625,000 2,409,000 4,120,000 5,834,000 7,553,000 9,269,000 10,987,000 12,709,000 13,809,000 
      deferred rent
    		                           171,000 162,000 128,000 133,000 140,000 147,000 168,000 161,000 154,000 
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at december 31, 2018 and december 31, 2017, respectively
    		                                    
      liabilities, preferred stock and stockholders’ equity
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at september 30, 2018 and december 31, 2017, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at june 30, 2018 and december 31, 2017, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares authorized and no shares, issued or outstanding at march 31, 2018 and december 31, 2017, respectively
    		                                    
      long-term vendor deposits
    		                               46,000 46,000 46,000   
      deferred financing costs
    		                                   3,441,000 
      liabilities, convertible preferred stock andstockholders’ equity
    		                                    
      preferred stock warrant liabilities
    		                                   3,241,000 
      commitments and contingencies
    		                                    
      series b convertible preferred stock, 0.001 par value, no shares and 3,963 authorized, issued and outstanding at december 31, 2017 and december 31, 2016, respectively
    		                                    
      series c convertible preferred stock, 0.001 par value, no shares and 1,887 shares authorized, no shares and 1,593 shares issued and outstanding at december 31, 2017 and december 31, 2016, respectively
    		                                    
      series c-1 convertible preferred stock, 0.001 par value, no shares and 474 shares authorized, issued and outstanding at december 31, 2017 and december 31, 2016, respectively
    		                                    
      series d convertible preferred stock, 0.001 par value, no shares and 5,491 shares authorized, issued and outstanding at december 31, 2017 and december 31, 2016, respectively
    		                                    
      stockholders’ equity
    		                                    
      preferred stock, 0.001 par value, 10,000 shares and no shares authorized, issued or outstanding at december 31, 2017 and december 31, 2016, respectively
    		                                    
      total liabilities, convertible preferred stock and stockholders’ equity
    		                               329,364,000 121,945,000 130,409,000 131,111,000  
      series b convertible preferred stock, 0.001 par value, no shares and 3,963 authorized, issued and outstanding at september 30, 2017 and december 31, 2016, respectively
    		                                    
      series c convertible preferred stock, 0.001 par value, no shares and 1,887 shares authorized, no shares and 1,593 shares issued and outstanding at september 30, 2017 and december 31, 2016, respectively
    		                                    
      series c-1 convertible preferred stock, 0.001 par value, no shares and 474 shares authorized, issued and outstanding at september 30, 2017 and december 31, 2016, respectively
    		                                    
      series d convertible preferred stock, 0.001 par value, no shares and 5,491 shares authorized, issued and outstanding at september 30, 2017 and december 31, 2016, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares and no shares authorized, issued or outstanding at september 30, 2017 and december 31, 2016, respectively
    		                                    
      series b convertible preferred stock, 0.001 par value, no shares and 3,963 authorized, issued and outstanding at june 30, 2017 and december 31, 2016, respectively
    		                                    
      series c convertible preferred stock, 0.001 par value, no shares and 1,887 shares authorized, no shares and 1,593 shares issued and outstanding at june 30, 2017 and december 31, 2016, respectively
    		                                    
      series c-1 convertible preferred stock, 0.001 par value, no shares and 474 shares authorized, issued and outstanding at june 30, 2017 and december 31, 2016, respectively
    		                                    
      series d convertible preferred stock, 0.001 par value, no shares and 5,491 shares authorized, issued and outstanding at june 30, 2017 and december 31, 2016, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares and no shares authorized, issued or outstanding at june 30, 2017 and december 31, 2016, respectively
    		                                    
      series b convertible preferred stock, 0.001 par value, no shares and 3,963 authorized, issued and outstanding at march 31, 2017 and december 31, 2016, respectively
    		                                    
      series c convertible preferred stock, 0.001 par value, no shares and 1,887 shares authorized, no shares and 1,593 shares issued and outstanding at march 31, 2017 and december 31, 2016, respectively
    		                                    
      series c-1 convertible preferred stock, 0.001 par value, no shares and 474 shares authorized, issued and outstanding at march 31, 2017 and december 31, 2016, respectively
    		                                    
      series d convertible preferred stock, 0.001 par value, no shares and 5,491 shares authorized, issued and outstanding at march 31, 2017 and december 31, 2016, respectively
    		                                    
      preferred stock, 0.001 par value, 10,000 shares and no shares authorized, issued or outstanding at march 31, 2017 and december 31, 2016, respectively
    		                                    
      liabilities, convertible preferred stock and stockholders’ deficit
    		                                    
      deferred revenue
    		                                    
      income taxes payable
    		                                    
      series b convertible preferred stock, 0.001 par value, 3,963 shares authorized, issued and outstanding at december 31, 2016 and 2015; aggregate liquidation preference at december 31, 2016 of 24,991
    		                                   28,220,000 
      series c convertible preferred stock, 0.001 par value, 1,887 shares authorized, 1,593 shares issued and outstanding at december 31, 2016 and 2015; aggregate liquidation preference at december 31, 2016 of 7,246
    		                                   6,452,000 
      series c-1 convertible preferred stock, 0.001 par value, 474 shares authorized, issued and outstanding at december 31, 2016 and 2015, respectively; aggregate liquidation preference at december 31, 2016 of 6,470
    		                                   2,156,000 
      series d convertible preferred stock, 0.001 par value, 5,491 shares authorized, issued and outstanding at december 31, 2016 and 2015, respectively; aggregate liquidation preference at december 31, 2016 of 40,767
    		                                   40,688,000 
      stockholders’ deficit:
    		                                    
      total stockholders’ deficit
    		                                   -38,248,000 
      total liabilities, convertible preferred stock and stockholders’ deficit
    		                                   62,180,000 
      collaboration revenue
    		                                   16,684,000 
      operating expenses:
    		                                    
      research and development
    		                                   15,419,000 
      general and administrative
    		                                   4,290,000 
      total operating expenses
    		                                   19,709,000 
      income from operations
    		                                   -3,025,000 
      other income
    		                                   -20,000 
      interest expense
    		                                   -458,000 
      interest expense, related parties
    		                                    
      change in fair value of liability for preferred stock warrants
    		                                   -756,000 
      total other income
    		                                   -1,234,000 
      income before income taxes
    		                                   -4,259,000 
      benefit from income taxes
    		                                    
      net income
    		                                   -4,259,000 
      net income attributed to participating securities
    		                                    
      net income attributed to common stockholders
    		                                   -4,259,000 
      net income per common share:
    		                                    
      basic and diluted
    		                                   -1,620 
      weighted-average number of shares outstanding:
    		                                    
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.