Editas Medicine, Inc(NASDAQ:EDIT)

Editas Medicine, Inc., a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas. ...
Website: http://www.editasmedicine.com
Founded: 2013
Full Time Employees: 208
Sector: Healthcare
Industry: Biotechnology
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At a glance:
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Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 | 2017-09-03 | 2017-06-30 | 2017-03-31 | 2016-12-31 | 2016-09-30 | 2016-09-03 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-03 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
collaboration and other research and development revenues | 2,831,000 | 24,741,000 | 7,543,000 | 3,578,000 | 4,658,000 | 30,604,000 | 61,000 | 513,000 | 1,135,000 | 60,049,000 | 5,336,000 | 2,887,000 | 9,851,000 | 6,536,000 | 42,000 | 6,362,000 | 6,771,000 | 12,469,000 | 6,197,000 | 379,000 | 6,499,000 | 11,419,000 | 62,841,000 | 10,749,000 | 5,723,000 | 12,284,000 | 3,848,000 | 2,330,000 | 2,069,000 | 6,119,000 | 14,519,000 | 7,372,000 | 3,927,000 | 3,667,000 | 6,282,000 | 3,097,000 | 682,000 | -3,526,000 | 962,000 | 3,388,000 | |||||
operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||
research and development | 17,600,000 | 27,404,000 | 19,775,000 | 16,181,000 | 26,593,000 | 48,611,000 | 47,639,000 | 54,210,000 | 48,787,000 | 69,556,000 | 40,512,000 | 29,779,000 | 37,804,000 | 51,998,000 | 41,326,000 | 43,659,000 | 37,976,000 | 37,553,000 | 29,265,000 | 33,753,000 | 41,937,000 | 61,504,000 | 33,916,000 | 28,007,000 | 34,570,000 | 34,789,000 | 22,702,000 | 23,565,000 | 15,842,000 | 19,194,000 | 17,443,000 | 32,718,000 | 21,300,000 | 26,424,000 | 20,396,000 | 17,318,000 | 19,021,000 | -11,298,000 | 10,832,000 | 10,430,000 | 8,882,000 | ||||
general and administrative | 10,234,000 | 11,353,000 | 12,316,000 | 12,859,000 | 13,375,000 | 16,354,000 | 18,088,000 | 18,206,000 | 19,339,000 | 14,455,000 | 14,987,000 | 17,202,000 | 23,008,000 | 17,984,000 | 16,236,000 | 16,937,000 | 19,545,000 | 16,526,000 | 16,185,000 | 22,027,000 | 21,445,000 | 15,787,000 | 19,936,000 | 14,081,000 | 17,769,000 | 16,917,000 | 15,734,000 | 14,414,000 | 17,489,000 | 13,178,000 | 13,334,000 | 14,311,000 | 14,186,000 | 13,685,000 | 12,635,000 | 11,894,000 | 12,288,000 | -15,120,000 | 11,295,000 | 12,158,000 | 9,762,000 | ||||
restructuring and impairment charges | -6,261,000 | 26,082,000 | 40,853,000 | ||||||||||||||||||||||||||||||||||||||||||
total operating expenses | 27,834,000 | 32,496,000 | 32,091,000 | 55,122,000 | 80,821,000 | 77,197,000 | 65,727,000 | 72,416,000 | 68,126,000 | 84,011,000 | 55,499,000 | 46,981,000 | 60,812,000 | 69,982,000 | 57,562,000 | 60,596,000 | 57,521,000 | 54,079,000 | 45,450,000 | 55,780,000 | 63,382,000 | 77,291,000 | 53,852,000 | 42,088,000 | 52,339,000 | 51,706,000 | 38,436,000 | 37,979,000 | 33,331,000 | 32,372,000 | 30,777,000 | 47,029,000 | 35,486,000 | 40,109,000 | 33,031,000 | 29,212,000 | 31,309,000 | -26,418,000 | 22,127,000 | 22,588,000 | 18,644,000 | ||||
operating income | -25,003,000 | -7,755,000 | -24,548,000 | -51,544,000 | -76,163,000 | -46,593,000 | -65,666,000 | -71,903,000 | -66,991,000 | -23,962,000 | -50,163,000 | -44,094,000 | -50,961,000 | -63,446,000 | -57,520,000 | -54,234,000 | -50,750,000 | -41,610,000 | -39,253,000 | -55,401,000 | -56,883,000 | -65,872,000 | 8,989,000 | -31,339,000 | -46,616,000 | -39,422,000 | -34,588,000 | -35,649,000 | -31,262,000 | -26,253,000 | -16,258,000 | -39,657,000 | -31,559,000 | -36,442,000 | -26,749,000 | -26,115,000 | -30,627,000 | 22,892,000 | -21,165,000 | -19,200,000 | -17,839,000 | ||||
yoy | -67.17% | -83.36% | -62.62% | -28.31% | 13.69% | 94.45% | 30.91% | 63.07% | 31.46% | -62.23% | -12.79% | -18.70% | 0.42% | 52.48% | 46.54% | -2.11% | -10.78% | -36.83% | -536.68% | 76.78% | 22.02% | 67.09% | -125.99% | -12.09% | 49.11% | 50.16% | 112.74% | -10.11% | -0.94% | -27.96% | -39.22% | 20.85% | 18.99% | -216.85% | 59.52% | -228.33% | |||||||||
qoq | 222.41% | -68.41% | -52.37% | -32.32% | 63.46% | -29.05% | -8.67% | 7.33% | 179.57% | -52.23% | 13.76% | -13.48% | -19.68% | 10.30% | 6.06% | 6.87% | 21.97% | 6.00% | -29.15% | -2.61% | -13.65% | -832.81% | -128.68% | -32.77% | 18.25% | 13.98% | -2.98% | 14.03% | 19.08% | 61.48% | -59.00% | 25.66% | -13.40% | 36.24% | -14.73% | -233.79% | -208.16% | 7.63% | |||||||
other income, net: | |||||||||||||||||||||||||||||||||||||||||||||
interest expense related to sale of future revenues | -1,072,000 | 464,000 | -2,399,000 | ||||||||||||||||||||||||||||||||||||||||||
interest income | 1,206,000 | 1,676,000 | 1,831,000 | 2,087,000 | 2,716,000 | 1,201,000 | 3,530,000 | 4,297,000 | 5,035,000 | 5,102,000 | 5,144,000 | 3,811,000 | 3,509,000 | 1,419,000 | 1,793,000 | 546,000 | 469,000 | 1,910,000 | 152,000 | 146,000 | 134,000 | 228,000 | 226,000 | 592,000 | 1,559,000 | 1,645,000 | 1,680,000 | 1,931,000 | 2,057,000 | 1,202,000 | 1,024,000 | 780,000 | 438,000 | 124,000 | -46,000 | -446,000 | -610,000 | -562,000 | 142,000 | 153,000 | 124,000 | ||||
other expense | -113,000 | -5,000 | -1,000 | -1,584,000 | -30,000 | ||||||||||||||||||||||||||||||||||||||||
total other income | 21,000 | 2,135,000 | -569,000 | -1,691,000 | 75,000 | 1,198,000 | 3,525,000 | 4,296,000 | 5,041,000 | 5,088,000 | 5,144,000 | 3,804,000 | 1,925,000 | 2,708,000 | 1,794,000 | 781,000 | 235,000 | 174,000 | 171,000 | 145,000 | 155,000 | 3,373,000 | -1,170,000 | 7,767,000 | 8,892,000 | 1,652,000 | 1,647,000 | 1,863,000 | 2,013,000 | 1,198,000 | 1,020,000 | 934,000 | 620,000 | 253,000 | 150,000 | -324,000 | -470,000 | -37,985,000 | 145,000 | 158,000 | 94,000 | ||||
net income | -24,982,000 | -5,620,000 | -25,117,000 | -53,235,000 | -76,088,000 | -45,395,000 | -62,141,000 | -67,607,000 | -61,950,000 | -18,874,000 | -45,019,000 | -40,290,000 | -49,036,000 | -60,738,000 | -55,726,000 | -53,453,000 | -50,515,000 | -41,436,000 | -39,082,000 | -55,256,000 | -56,728,000 | -62,499,000 | 7,819,000 | -23,572,000 | -37,724,000 | -37,770,000 | -32,941,000 | -33,786,000 | -29,249,000 | -25,055,000 | -15,238,000 | -38,723,000 | -30,939,000 | -36,189,000 | -26,599,000 | -26,439,000 | -31,097,000 | -15,093,000 | -21,020,000 | -19,042,000 | -17,745,000 | ||||
yoy | -67.17% | -87.62% | -59.58% | -21.26% | 22.82% | 140.52% | 38.03% | 67.80% | 26.34% | -68.93% | -19.21% | -24.63% | -2.93% | 46.58% | 42.59% | -3.26% | -10.95% | -33.70% | -599.83% | 134.41% | 50.38% | 65.47% | -123.74% | -30.23% | 28.98% | 50.75% | 116.18% | -12.75% | -5.46% | -30.77% | -42.71% | 17.02% | 16.37% | 76.23% | 63.31% | -14.95% | |||||||||
qoq | 344.52% | -77.62% | -52.82% | -30.03% | 67.61% | -26.95% | -8.08% | 9.13% | 228.23% | -58.08% | 11.74% | -17.84% | -19.27% | 8.99% | 4.25% | 5.82% | 21.91% | 6.02% | -29.27% | -2.59% | -9.23% | -899.32% | -133.17% | -37.51% | -0.12% | 14.66% | -2.50% | 15.51% | 16.74% | 64.42% | -60.65% | 25.16% | -14.51% | 36.05% | -14.98% | 106.04% | -28.20% | 7.31% | |||||||
net income per share | -0.26 | -0.28 | -0.63 | -0.92 | -0.55 | -0.75 | -0.82 | -0.76 | -0.21 | -0.55 | -0.56 | -0.71 | -0.88 | -0.81 | -0.78 | -0.74 | -0.61 | -0.57 | -0.81 | -0.86 | -1.05 | 0.13 | -0.43 | -0.69 | -0.73 | -0.66 | -0.69 | -0.6 | -0.52 | -0.32 | -0.82 | -0.67 | -0.85 | -0.64 | -0.65 | -0.85 | -26.69 | -0.59 | -0.54 | -0.8 | |||||
weighted-average common shares outstanding, basic and diluted | 97,879,343 | 88,745,908 | 90,090,397 | 84,412,200 | 83,055,066 | 82,338,220 | 82,485,199 | 82,310,368 | 81,938,839 | 75,965,633 | 81,648,250 | 71,376,678 | 68,924,180 | 68,664,822 | 68,736,125 | 68,640,858 | 68,484,978 | 67,619,388 | 67,877,126 | 65,992,395 | 58,609,389 | 55,346,052 | 54,590,194 | 49,983,329 | 49,820,455 | 49,070,574 | 48,838,229 | 47,097,735 | 47,414,271 | 46,952,059 | 45,992,008 | 40,323,631 | 41,307,092 | 300,480 | 40,830,161 | 36,485,421 | 2,566,916 | 35,505,429 | 300,480 | 35,286,719 | 22,280,797 | ||||
other income | -1,758,000 | -425,000 | -5,000 | -1,000 | 6,000 | -14,000 | -7,000 | 1,289,000 | 1,000 | 235,000 | -234,000 | -1,736,000 | 19,000 | -1,000 | 21,000 | 3,145,000 | -1,396,000 | 7,175,000 | 7,333,000 | 7,000 | -33,000 | -68,000 | -44,000 | -4,000 | 154,000 | 182,000 | 129,000 | 196,000 | 122,000 | 140,000 | -5,500 | 3,000 | 5,000 | ||||||||||||
interest related to sale of future revenues | -2,020,000 | -2,216,000 | |||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares outstanding, basic | 68,219,742 | 62,144,118 | |||||||||||||||||||||||||||||||||||||||||||
weighted-average common shares outstanding, diluted | 68,219,742 | 62,697,173 | |||||||||||||||||||||||||||||||||||||||||||
reconciliation of net loss to net loss attributable to common stockholders: | |||||||||||||||||||||||||||||||||||||||||||||
accretion of redeemable convertible preferred stock to redemption value | -347,000 | -47,000 | |||||||||||||||||||||||||||||||||||||||||||
net loss attributable to common stockholders | -36,189,000 | -26,599,000 | -26,439,000 | -31,097,000 | -15,440,000 | -21,020,000 | -19,042,000 | -17,792,000 | |||||||||||||||||||||||||||||||||||||
net loss and comprehensive loss | -31,097,000 | -15,093,000 | -21,020,000 | -19,042,000 | -17,745,000 | ||||||||||||||||||||||||||||||||||||||||
collaboration revenue | 805,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 |
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assets | ||||||||||||||||||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 123,648,000 | 146,645,000 | 165,648,000 | 138,542,000 | 138,692,000 | 131,541,000 | 95,832,000 | 64,441,000 | 69,227,000 | 123,652,000 | 82,537,000 | 220,817,000 | 129,021,000 | 141,522,000 | 210,704,000 | 169,401,000 | 210,881,000 | 203,519,000 | 259,884,000 | 337,834,000 | 354,918,000 | 139,682,000 | 279,576,000 | 485,819,000 | 232,850,000 | 238,183,000 | 104,772,000 | 210,605,000 | 157,932,000 | 134,776,000 | 111,701,000 | 131,924,000 | 217,671,000 | 146,630,000 | 86,542,000 | 144,096,000 | 351,552,000 | 185,323,000 | 199,874,000 | 217,650,000 | 229,204,000 | 143,180,000 |
accounts receivable | 2,592,000 | 15,176,000 | 8,130,000 | 588,000 | 510,000 | 16,266,000 | 126,000 | 244,000 | 245,000 | 10,187,000 | 2,422,000 | 2,286,000 | 242,000 | 5,145,000 | 120,000 | 713,000 | 1,371,000 | 267,000 | 251,000 | 331,000 | 672,000 | 6,048,000 | 1,055,000 | 1,865,000 | 1,832,000 | 418,000 | 311,000 | 12,000 | 30,000 | 43,000 | 362,000 | 931,000 | 679,000 | 695,000 | 820,000 | 945,000 | 88,000 | 1,122,000 | 1,195,000 | 1,108,000 | 1,019,000 | |
prepaid expenses and other current assets | 1,826,000 | 2,074,000 | 3,113,000 | 3,707,000 | 3,369,000 | 3,136,000 | 5,925,000 | 6,998,000 | 9,139,000 | 7,531,000 | 6,564,000 | 6,724,000 | 5,777,000 | 7,335,000 | 6,892,000 | 8,106,000 | 7,298,000 | 7,198,000 | 9,516,000 | 5,408,000 | 6,311,000 | 10,929,000 | 10,467,000 | 9,541,000 | 8,281,000 | 6,286,000 | 6,284,000 | 6,298,000 | 5,002,000 | 5,791,000 | 5,018,000 | 3,795,000 | 3,060,000 | 2,381,000 | 2,030,000 | 2,257,000 | 1,289,000 | 1,772,000 | 2,453,000 | 2,373,000 | 1,874,000 | 786,000 |
total current assets | 128,066,000 | 163,895,000 | 176,891,000 | 182,796,000 | 224,843,000 | 289,315,000 | 271,139,000 | 286,354,000 | 305,555,000 | 340,829,000 | 358,603,000 | 440,978,000 | 324,458,000 | 356,754,000 | 426,629,000 | 461,377,000 | 497,031,000 | 507,310,000 | 567,608,000 | 616,292,000 | 632,316,000 | 419,087,000 | 506,827,000 | 610,126,000 | 425,106,000 | 463,844,000 | 339,211,000 | 324,240,000 | 347,067,000 | 374,776,000 | 342,553,000 | 348,237,000 | 362,812,000 | 332,199,000 | 298,416,000 | 327,872,000 | 353,786,000 | 187,183,000 | 203,449,000 | 221,218,000 | 232,186,000 | 144,985,000 |
property and equipment | 2,884,000 | 3,542,000 | 4,287,000 | 4,576,000 | 8,182,000 | 14,497,000 | 15,419,000 | 14,156,000 | 13,257,000 | 12,032,000 | 11,559,000 | 12,846,000 | 13,211,000 | 15,569,000 | 15,494,000 | 16,198,000 | 17,258,000 | 17,118,000 | 15,631,000 | 14,910,000 | 14,095,000 | 14,020,000 | 14,069,000 | 12,895,000 | 12,218,000 | 10,887,000 | 10,075,000 | 8,530,000 | 7,991,000 | 40,232,000 | 39,699,000 | 39,915,000 | 39,551,000 | 39,442,000 | 39,092,000 | 39,358,000 | 39,636,000 | 40,378,000 | 37,072,000 | 26,741,000 | 15,003,000 | 2,130,000 |
right-of-use assets | 15,412,000 | 16,121,000 | 17,583,000 | 19,011,000 | 26,429,000 | 32,554,000 | 35,728,000 | 36,951,000 | 31,443,000 | 33,680,000 | 31,936,000 | 34,811,000 | 36,344,000 | 43,648,000 | 22,532,000 | 20,666,000 | 23,457,000 | 26,173,000 | 27,801,000 | 30,314,000 | 29,305,000 | 25,128,000 | 26,398,000 | 28,569,000 | 27,022,000 | 28,761,000 | ||||||||||||||||
restricted cash and other non-current assets | 2,976,000 | 2,976,000 | 2,990,000 | 4,198,000 | 4,198,000 | 5,223,000 | 5,281,000 | 8,145,000 | 9,487,000 | 8,588,000 | 5,755,000 | 5,253,000 | 6,753,000 | 5,253,000 | 7,530,000 | 7,530,000 | 7,316,000 | 6,811,000 | 6,781,000 | 6,780,000 | 6,688,000 | 4,703,000 | 3,877,000 | 3,891,000 | 2,391,000 | 5,393,000 | 5,392,000 | 5,378,000 | 5,378,000 | 5,378,000 | 5,378,000 | 5,378,000 | 1,619,000 | 1,619,000 | 1,619,000 | 1,619,000 | 1,619,000 | 1,621,000 | 1,632,000 | 1,643,000 | 1,619,000 | |
total assets | 149,338,000 | 186,534,000 | 201,751,000 | 210,581,000 | 263,652,000 | 341,589,000 | 327,567,000 | 384,801,000 | 440,347,000 | 499,153,000 | 504,650,000 | 541,953,000 | 464,105,000 | 514,321,000 | 531,029,000 | 580,833,000 | 623,108,000 | 677,483,000 | 717,019,000 | 755,880,000 | 780,294,000 | 572,602,000 | 597,157,000 | 655,481,000 | 466,737,000 | 508,885,000 | 372,359,000 | 355,625,000 | 378,916,000 | 420,386,000 | 387,630,000 | 393,530,000 | 403,982,000 | 373,260,000 | 339,127,000 | 368,849,000 | 395,041,000 | 229,182,000 | 242,153,000 | 249,602,000 | 248,808,000 | 149,363,000 |
liabilities and stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||||||||||||||||||
accounts payable | 4,332,000 | 2,605,000 | 3,163,000 | 6,723,000 | 5,465,000 | 5,493,000 | 12,491,000 | 13,769,000 | 7,966,000 | 8,269,000 | 10,411,000 | 8,066,000 | 9,047,000 | 9,511,000 | 6,836,000 | 6,169,000 | 4,693,000 | 5,050,000 | 3,402,000 | 4,415,000 | 8,910,000 | 6,408,000 | 5,158,000 | 6,339,000 | 10,394,000 | 5,843,000 | 6,624,000 | 3,981,000 | 6,557,000 | 5,327,000 | 5,040,000 | 4,661,000 | 8,996,000 | 4,020,000 | 6,976,000 | 8,156,000 | 15,233,000 | 4,640,000 | 3,718,000 | 5,844,000 | 2,909,000 | 1,381,000 |
accrued expenses | 21,248,000 | 32,610,000 | 47,522,000 | 48,068,000 | 47,488,000 | 45,859,000 | 28,785,000 | 27,669,000 | 31,481,000 | 34,563,000 | 30,278,000 | 27,896,000 | 31,560,000 | 31,296,000 | 19,259,000 | 20,105,000 | 15,787,000 | 20,192,000 | 14,575,000 | 18,627,000 | 15,132,000 | 24,046,000 | 20,307,000 | 10,194,000 | 8,669,000 | 22,120,000 | 8,138,000 | 8,169,000 | 5,642,000 | 12,813,000 | 11,341,000 | 11,029,000 | 7,767,000 | 11,049,000 | 8,450,000 | 11,160,000 | 6,769,000 | 17,439,000 | 9,492,000 | 7,846,000 | 7,251,000 | 5,456,000 |
liability for sale of future revenues, current | 7,500,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||||||||||||||||||||||||||||||
operating lease liabilities, current | 6,699,000 | 6,031,000 | ||||||||||||||||||||||||||||||||||||||||
total current liabilities | 39,779,000 | 46,246,000 | 61,773,000 | 65,937,000 | 73,114,000 | 77,225,000 | 72,353,000 | 74,306,000 | 66,487,000 | 63,217,000 | 58,603,000 | 54,513,000 | 57,155,000 | 60,110,000 | 42,289,000 | 36,421,000 | 36,503,000 | 46,884,000 | 50,907,000 | 66,016,000 | 64,010,000 | 58,208,000 | 54,816,000 | 68,150,000 | 68,869,000 | 59,963,000 | 66,787,000 | 72,867,000 | 41,029,000 | 35,900,000 | 26,086,000 | 24,020,000 | 30,994,000 | 36,707,000 | 29,496,000 | 48,686,000 | 50,287,000 | 33,083,000 | 13,757,000 | 13,721,000 | 10,222,000 | 6,925,000 |
operating lease liabilities, net of current portion | 10,598,000 | 12,071,000 | 13,564,000 | 14,989,000 | 17,972,000 | 20,380,000 | 22,095,000 | 20,514,000 | 21,783,000 | 24,372,000 | 24,918,000 | 26,856,000 | 28,810,000 | 32,864,000 | 9,328,000 | 10,110,000 | 12,957,000 | 16,069,000 | 18,430,000 | 21,282,000 | 21,621,000 | 19,324,000 | 20,368,000 | 22,153,000 | 21,530,000 | 23,277,000 | ||||||||||||||||
liability for sale of future revenues, net of current portion | 47,177,000 | 53,605,000 | ||||||||||||||||||||||||||||||||||||||||
deferred revenue, net of current portion | 44,509,000 | 44,509,000 | 54,204,000 | 54,204,000 | 54,204,000 | 54,204,000 | 54,204,000 | 54,204,000 | 54,204,000 | 60,667,000 | 60,667,000 | 60,667,000 | 60,667,000 | 60,667,000 | 64,667,000 | 68,888,000 | 60,888,000 | 60,888,000 | 60,888,000 | 55,221,000 | 56,667,000 | 73,984,000 | 80,821,000 | 138,406,000 | 141,770,000 | 163,207,000 | 82,379,000 | 75,911,000 | 105,865,000 | 115,614,000 | 104,100,000 | 104,929,000 | 91,972,000 | 94,725,000 | 97,851,000 | 100,953,000 | 104,033,000 | 26,000,000 | ||||
other non-current liabilities | 2,867,000 | 2,815,000 | 4,688,000 | 4,592,000 | 6,363,000 | 3,072,000 | 3,281,000 | 3,768,000 | 3,473,000 | 1,800,000 | 27,500,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 293,000 | 301,000 | 305,000 | 311,000 | 317,000 | 325,000 | 328,000 | 331,000 | 16,000 | 19,000 | 21,000 | 24,000 | 27,000 | |||||||||||||
total liabilities | 144,930,000 | 159,246,000 | 188,298,000 | 191,392,000 | 201,232,000 | 207,315,000 | 151,933,000 | 152,792,000 | 145,947,000 | 150,056,000 | 144,188,000 | 142,036,000 | 146,632,000 | 153,641,000 | 116,284,000 | 115,419,000 | 110,348,000 | 123,841,000 | 130,225,000 | 142,519,000 | 142,298,000 | 179,016,000 | 156,005,000 | 228,709,000 | 232,170,000 | 246,448,000 | 162,369,000 | 162,563,000 | 161,754,000 | 184,224,000 | 163,181,000 | 162,198,000 | 156,467,000 | 165,180,000 | 161,339,000 | 183,845,000 | 188,580,000 | 94,575,000 | 71,977,000 | 62,272,000 | 47,445,000 | 32,562,000 |
stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value per share... | ||||||||||||||||||||||||||||||||||||||||||
common stock, 0.0001 par value per share... | 10,000 | 10,000 | 9,000 | 9,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 8,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 6,000 | 6,000 | 6,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | |
additional paid-in capital | 1,657,883,000 | 1,655,781,000 | 1,636,327,000 | 1,616,931,000 | 1,606,855,000 | 1,602,441,000 | 1,598,152,000 | 1,593,350,000 | 1,588,018,000 | 1,580,241,000 | 1,574,382,000 | 1,569,651,000 | 1,446,912,000 | 1,442,405,000 | 1,436,422,000 | 1,430,461,000 | 1,423,476,000 | 1,411,827,000 | 1,403,114,000 | 1,390,606,000 | 1,359,987,000 | 1,058,823,000 | 1,043,892,000 | 1,037,100,000 | 820,813,000 | 811,546,000 | 721,397,000 | 671,522,000 | 661,852,000 | 652,464,000 | 615,749,000 | 607,311,000 | 584,825,000 | 514,002,000 | 447,468,000 | 428,129,000 | 423,080,000 | 320,129,000 | 316,322,000 | 312,456,000 | 307,448,000 | 5,234,000 |
accumulated other comprehensive income | 15,000 | 88,000 | 268,000 | 522,000 | -442,000 | -326,000 | 198,000 | -46,000 | -48,000 | 183,000 | 694,000 | 107,000 | 39,000 | 45,000 | 29,000 | |||||||||||||||||||||||||||
accumulated deficit | -1,653,485,000 | -1,628,503,000 | -1,622,883,000 | -1,597,766,000 | -1,544,531,000 | -1,468,443,000 | -1,423,048,000 | -1,360,907,000 | -1,293,300,000 | -1,231,350,000 | -1,212,476,000 | -1,167,457,000 | -1,127,167,000 | -1,078,131,000 | -1,017,393,000 | -961,667,000 | -908,214,000 | -857,699,000 | -816,263,000 | -777,181,000 | -721,925,000 | -665,197,000 | -602,698,000 | -610,517,000 | -586,945,000 | -549,221,000 | -511,451,000 | -478,510,000 | -444,724,000 | -416,278,000 | -391,223,000 | -375,985,000 | -337,262,000 | -305,850,000 | -269,661,000 | -243,062,000 | -216,623,000 | -185,526,000 | -146,150,000 | -125,130,000 | -106,089,000 | -88,348,000 |
total stockholders’ equity | 4,408,000 | 27,288,000 | 13,453,000 | 19,189,000 | 62,420,000 | 134,274,000 | 175,634,000 | 232,009,000 | 294,400,000 | 349,097,000 | 360,462,000 | 399,917,000 | 317,473,000 | 360,680,000 | 414,745,000 | 465,414,000 | 512,760,000 | 553,642,000 | 586,794,000 | 613,361,000 | 637,996,000 | 393,586,000 | 441,152,000 | 426,772,000 | 234,567,000 | 262,437,000 | 209,990,000 | 193,062,000 | 217,162,000 | 236,162,000 | 224,449,000 | 231,332,000 | 247,515,000 | 208,080,000 | 177,788,000 | 185,004,000 | 206,461,000 | 134,607,000 | 170,176,000 | 187,330,000 | 201,363,000 | |
total liabilities and stockholders’ equity | 149,338,000 | 186,534,000 | 201,751,000 | 210,581,000 | 263,652,000 | 341,589,000 | 327,567,000 | 384,801,000 | 440,347,000 | 499,153,000 | 504,650,000 | 541,953,000 | 464,105,000 | 514,321,000 | 531,029,000 | 580,833,000 | 623,108,000 | 677,483,000 | 717,019,000 | 755,880,000 | 780,294,000 | 572,602,000 | 597,157,000 | 655,481,000 | 466,737,000 | 508,885,000 | 372,359,000 | 355,625,000 | 378,916,000 | 420,386,000 | 387,630,000 | 393,530,000 | 403,982,000 | 373,260,000 | 339,127,000 | 368,849,000 | 395,041,000 | |||||
marketable securities | 39,959,000 | 82,272,000 | 138,372,000 | 169,256,000 | 214,671,000 | 226,944,000 | 199,459,000 | 267,080,000 | 211,151,000 | 189,418,000 | 202,752,000 | 208,913,000 | 283,157,000 | 277,481,000 | 296,326,000 | 297,957,000 | 272,719,000 | 270,415,000 | 262,428,000 | 215,729,000 | 112,901,000 | 182,143,000 | 218,957,000 | 227,844,000 | 107,325,000 | 184,133,000 | 234,179,000 | 225,791,000 | 212,156,000 | 141,150,000 | 182,509,000 | 209,149,000 | 180,699,000 | |||||||||
deferred revenue, current | 2,000,000 | 6,221,000 | 14,684,000 | 14,684,000 | 14,684,000 | 8,221,000 | 8,221,000 | 8,221,000 | 8,221,000 | 8,221,000 | 4,221,000 | 5,817,000 | 11,333,000 | 22,667,000 | 34,000,000 | 32,704,000 | 20,943,000 | 19,874,000 | 40,940,000 | 40,642,000 | 23,514,000 | 46,019,000 | 56,036,000 | 23,400,000 | 15,712,000 | 8,725,000 | 7,386,000 | 13,323,000 | 13,238,000 | 13,239,000 | 13,239,000 | |||||||||||
commitments and contingencies | ||||||||||||||||||||||||||||||||||||||||||
operating lease liabilities | 6,088,000 | 6,146,000 | 13,161,000 | 14,652,000 | 16,393,000 | 18,184,000 | 12,356,000 | 12,164,000 | 9,693,000 | 10,330,000 | 8,327,000 | 11,082,000 | 11,973,000 | 10,147,000 | 10,206,000 | 10,309,000 | 10,263,000 | 8,974,000 | 7,264,000 | 6,811,000 | 6,342,000 | 6,650,000 | 5,649,000 | 5,804,000 | ||||||||||||||||||
liability for sale of future revenues - non-current | 54,069,000 | 51,670,000 | 49,579,000 | 52,434,000 | ||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive loss | -1,452,000 | -2,285,000 | -2,279,000 | -3,601,000 | -4,291,000 | -3,387,000 | -2,509,000 | -493,000 | -64,000 | -71,000 | -73,000 | -29,000 | -82,000 | -52,000 | -76,000 | -23,000 | -67,000 | |||||||||||||||||||||||||
other current liabilities | 3,135,000 | 4,027,000 | 3,515,000 | 2,682,000 | 1,558,000 | 1,033,000 | 1,911,000 | 2,048,000 | 980,000 | 944,000 | 908,000 | 900,000 | 831,000 | 1,131,000 | 13,285,000 | 986,000 | 547,000 | |||||||||||||||||||||||||
construction financing lease obligation, net of current portion | 32,417,000 | 32,694,000 | 32,944,000 | 33,190,000 | 33,431,000 | 33,667,000 | 33,878,000 | 33,929,000 | 35,096,000 | 32,048,000 | ||||||||||||||||||||||||||||||||
right-of-use asset | 17,681,000 | 17,477,000 | 18,480,000 | |||||||||||||||||||||||||||||||||||||||
operating lease liability | 4,448,000 | 3,648,000 | 3,519,000 | |||||||||||||||||||||||||||||||||||||||
operating lease liability, net of current portion | 13,202,000 | 13,784,000 | 14,859,000 | |||||||||||||||||||||||||||||||||||||||
notes payable | 7,500,000 | 15,000,000 | 15,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive gain | 1,000 | |||||||||||||||||||||||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||
deferred rent, current portion | 18,000 | 31,000 | 62,000 | 88,000 | ||||||||||||||||||||||||||||||||||||||
deferred rent, net of current portion | 380,000 | 353,000 | 212,000 | 71,000 | ||||||||||||||||||||||||||||||||||||||
warrant to purchase redeemable securities | 289,000 | |||||||||||||||||||||||||||||||||||||||||
series a-1 redeemable convertible preferred stock, 0.0001 par value per share... | 21,137,000 | |||||||||||||||||||||||||||||||||||||||||
series a-2 redeemable convertible preferred stock, 0.0001 par value per share... | 59,027,000 | |||||||||||||||||||||||||||||||||||||||||
series b redeemable convertible preferred stock, 0.0001 par value per share... | 119,751,000 | |||||||||||||||||||||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 229,182,000 | 242,153,000 | 249,602,000 | 248,808,000 | ||||||||||||||||||||||||||||||||||||||
deferred revenue | 25,800,000 | 25,642,000 | 25,479,000 | 25,321,000 | ||||||||||||||||||||||||||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||||||||||||||||||||||||||||
construction financing lease obligation | 22,676,000 | 11,649,000 | ||||||||||||||||||||||||||||||||||||||||
other non-current assets | 2,248,000 | |||||||||||||||||||||||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||
anti-dilution protection liability | ||||||||||||||||||||||||||||||||||||||||||
preferred stock tranche liability | ||||||||||||||||||||||||||||||||||||||||||
equipment loan, current portion, net of discount | ||||||||||||||||||||||||||||||||||||||||||
equipment loan, net of current portion and discount | ||||||||||||||||||||||||||||||||||||||||||
stockholders’ deficit | ||||||||||||||||||||||||||||||||||||||||||
total stockholders’ deficit | -83,114,000 | |||||||||||||||||||||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ deficit | 149,363,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 | 2016-09-30 | 2016-06-30 | 2016-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flow from operating activities | |||||||||||||||||||||||||||||||||||||||||
net loss | -24,982,000 | -5,620,000 | -25,117,000 | -53,235,000 | -76,088,000 | -62,141,000 | -67,607,000 | -61,950,000 | -18,874,000 | -45,019,000 | -40,290,000 | -49,036,000 | -60,738,000 | -55,726,000 | -53,453,000 | -50,515,000 | -41,436,000 | -39,082,000 | -55,256,000 | -56,728,000 | -62,499,000 | 7,819,000 | -23,572,000 | -37,724,000 | -37,770,000 | -32,941,000 | -33,786,000 | -29,249,000 | -25,055,000 | -15,238,000 | -38,722,000 | -30,939,000 | -36,189,000 | -26,599,000 | -26,439,000 | -31,097,000 | 57,709,817 | -21,020,000 | -19,042,000 | -17,745,000 | |
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||
stock-based compensation expense | 2,102,000 | 2,129,000 | 2,228,000 | 2,664,000 | 2,979,000 | 4,020,000 | 4,802,000 | 5,010,000 | 7,585,000 | 5,345,000 | 4,731,000 | 5,215,000 | 4,507,000 | 5,364,000 | 5,881,000 | 6,618,000 | 11,431,000 | 7,657,000 | 10,012,000 | 13,526,000 | 12,204,000 | 5,673,000 | 5,846,000 | 5,417,000 | 6,220,000 | 6,336,000 | 6,559,000 | 6,493,000 | 7,855,000 | 6,347,000 | 6,699,000 | 7,024,000 | 6,528,000 | 8,077,000 | 4,467,000 | 5,016,000 | 5,804,000 | -13,082,119 | 3,690,000 | 5,199,000 | 4,210,000 |
depreciation | 483,000 | 805,000 | 721,000 | 1,834,000 | 1,917,000 | 1,381,000 | 1,599,000 | 1,420,000 | 1,409,000 | 1,466,000 | 1,514,000 | 1,540,000 | 1,544,000 | 1,577,000 | 1,604,000 | 1,598,000 | 1,558,000 | 1,511,000 | 1,190,000 | 1,189,000 | 1,163,000 | 1,183,000 | 1,107,000 | 871,000 | 798,000 | 782,000 | 727,000 | 693,000 | 628,000 | 880,000 | 839,000 | 784,000 | 751,000 | 717,000 | 684,000 | 651,000 | 631,000 | -712,798 | 281,000 | 246,000 | 187,000 |
net amortization of premiums and discounts on marketable securities | -257,000 | -583,000 | -869,000 | -1,326,000 | -1,880,000 | -1,716,000 | -2,103,000 | ||||||||||||||||||||||||||||||||||
other non-cash items | 111,000 | -59,000 | 0 | -882,000 | 492,000 | 0 | 0 | -780,000 | -693,000 | -498,000 | -283,000 | -177,000 | 234,000 | 325,000 | 422,000 | 509,000 | 401,000 | 389,000 | 4,000 | -74,000 | -215,000 | -501,000 | -468,000 | -778,000 | -1,181,000 | -1,139,000 | -1,031,000 | -668,000 | -430,000 | -283,000 | -193,000 | 107,000 | 69,000 | ||||||||
impairment of held for sale assets | 34,000 | 0 | 0 | 3,724,000 | |||||||||||||||||||||||||||||||||||||
interest related to sale of future revenues | 1,072,000 | -464,000 | 2,399,000 | 2,091,000 | 2,145,000 | ||||||||||||||||||||||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||||||||||||||||||||||||||
accounts receivable | 12,584,000 | -7,046,000 | -7,542,000 | -78,000 | 15,756,000 | -16,140,000 | 118,000 | 1,000 | 9,942,000 | -7,765,000 | -136,000 | -2,044,000 | 4,903,000 | -5,025,000 | 593,000 | 659,000 | -1,105,000 | -16,000 | 80,000 | 341,000 | 5,376,000 | -4,993,000 | 810,000 | -33,000 | -1,414,000 | -107,000 | -299,000 | -12,000 | 30,000 | 13,000 | 319,000 | 569,000 | -252,000 | 16,000 | 125,000 | 125,000 | -857,000 | 103,931 | 73,000 | -87,000 | -89,000 |
prepaid expenses and other current assets | 248,000 | 887,000 | 593,000 | -488,000 | 70,000 | 2,789,000 | 1,072,000 | 2,142,000 | -1,607,000 | -968,000 | 160,000 | -947,000 | 1,558,000 | -444,000 | 1,215,000 | -809,000 | -99,000 | 2,317,000 | -4,107,000 | 903,000 | 4,618,000 | -462,000 | -927,000 | -1,259,000 | -1,995,000 | -758,000 | -38,000 | -488,000 | 789,000 | -1,061,000 | -935,000 | -653,000 | -761,000 | -338,000 | 228,000 | -972,000 | 486,000 | 1,666,014 | -80,000 | -499,000 | -1,088,000 |
right-of-use assets | 709,000 | 1,462,000 | 1,428,000 | 2,569,000 | 6,125,000 | 3,174,000 | 1,223,000 | -5,508,000 | 2,237,000 | -1,744,000 | 2,875,000 | 1,533,000 | 7,304,000 | -21,116,000 | -1,866,000 | 2,791,000 | 2,716,000 | 2,611,000 | 2,513,000 | 8,744,000 | -4,177,000 | 1,270,000 | 2,171,000 | -1,547,000 | 1,739,000 | ||||||||||||||||
other non-current assets | 14,000 | 1,000 | 0 | 1,025,000 | 60,000 | 2,863,000 | 1,342,000 | -899,000 | -2,833,000 | -1,500,000 | 2,277,000 | 0 | -214,000 | -505,000 | -31,000 | 0 | -92,000 | -1,985,000 | -825,000 | 13,000 | 0 | 93,000 | -1,000 | 0 | 0 | 0 | 0 | 0 | 2,000 | -2,232,754 | 11,000 | -24,000 | 2,248,000 | ||||||||
accounts payable | 1,727,000 | -558,000 | -3,561,000 | 1,258,000 | -27,000 | -6,999,000 | -1,254,000 | 7,423,000 | -1,456,000 | -2,594,000 | 2,358,000 | -699,000 | -557,000 | 2,694,000 | 422,000 | 1,481,000 | -229,000 | 1,839,000 | -1,160,000 | -3,835,000 | 2,017,000 | 1,302,000 | -1,473,000 | -3,741,000 | 4,767,000 | -731,000 | 2,464,000 | -2,085,000 | 626,000 | 113,000 | 683,000 | -4,111,000 | 5,095,000 | -4,078,000 | -803,000 | -6,712,000 | 10,078,000 | -2,091,749 | -2,164,000 | 3,715,000 | 544,000 |
accrued expenses | -11,362,000 | -14,912,000 | -543,000 | 578,000 | 1,693,000 | 17,146,000 | 1,015,000 | -3,844,000 | -2,694,000 | 4,092,000 | 2,382,000 | -3,787,000 | 1,427,000 | 10,990,000 | -887,000 | 4,384,000 | -3,982,000 | 5,273,000 | -3,423,000 | 3,547,000 | -9,563,000 | 4,098,000 | 10,048,000 | 1,205,000 | -13,644,000 | 13,976,000 | 136,000 | 2,296,000 | -6,923,000 | 1,698,000 | 312,000 | 3,284,000 | -1,252,000 | 628,000 | -2,762,000 | 4,339,000 | -10,539,000 | -4,022,159 | 1,900,000 | 320,000 | 1,814,000 |
accrued interest on sale of future revenues | -5,000,000 | 0 | 0 | 0 | -2,128,000 | ||||||||||||||||||||||||||||||||||||
deferred revenue | -9,695,000 | 0 | -2,000,000 | -4,221,000 | 0 | 0 | 2,183,000 | -5,516,000 | -11,334,000 | -5,666,000 | -151,000 | -5,555,000 | -5,768,000 | -78,651,000 | -3,066,000 | -4,309,000 | 58,323,000 | -3,549,000 | 2,682,000 | -2,061,000 | 18,501,000 | 511,000 | 7,019,000 | -3,142,000 | -3,127,000 | -3,103,000 | -2,277,000 | 90,214,000 | -478,065 | 158,000 | 163,000 | 158,000 | |||||||||
operating lease liabilities | -805,000 | -1,550,000 | -1,483,000 | -5,149,000 | -3,899,000 | -3,456,000 | -210,000 | 4,558,000 | -2,396,000 | 1,925,000 | -2,575,000 | 48,000 | -6,808,000 | 22,646,000 | 1,043,000 | -2,906,000 | -3,215,000 | -3,298,000 | -1,564,000 | -8,382,000 | 2,750,000 | -575,000 | -2,093,000 | 1,624,000 | -1,902,000 | ||||||||||||||||
other non-current liabilities | 52,000 | -1,814,000 | 95,000 | -1,310,000 | 3,221,000 | -488,000 | |||||||||||||||||||||||||||||||||||
net cash from operating activities | -23,061,000 | -36,387,000 | -30,843,000 | -50,212,000 | -47,799,000 | -50,762,000 | -52,588,000 | -57,062,000 | -49,872,000 | -22,240,000 | -35,459,000 | -38,711,000 | -35,768,000 | -42,273,000 | -48,004,000 | -37,845,000 | -49,227,000 | -34,582,000 | -40,785,000 | -38,957,000 | -49,479,000 | -40,100,000 | -54,801,000 | -30,856,000 | -54,086,000 | 41,024,000 | -26,884,000 | -25,806,000 | -29,003,000 | 1,327,000 | -7,841,000 | -16,733,000 | -22,460,000 | -25,069,000 | -27,977,000 | -26,162,000 | 69,791,000 | 36,519,074 | -17,041,000 | -9,899,000 | -9,629,000 |
capital expenditures | -92,000 | -60,000 | -433,000 | 0 | -114,000 | -540,000 | -2,921,000 | -3,494,000 | -1,871,000 | -1,307,000 | -239,000 | -1,333,000 | -1,840,000 | -624,000 | -614,000 | -632,000 | -2,248,000 | -2,845,000 | -2,344,000 | -2,704,000 | -84,000 | -1,376,000 | -1,793,000 | -1,841,000 | -2,152,000 | -1,691,000 | -2,245,000 | -1,513,000 | -718,000 | -1,415,000 | -938,000 | -1,390,000 | -1,011,000 | -289,000 | -752,000 | -362,000 | -656,000 | 2,813,507 | -713,000 | -1,161,000 | -943,000 |
free cash flows | -23,153,000 | -36,447,000 | -31,276,000 | -50,212,000 | -47,913,000 | -51,302,000 | -55,509,000 | -60,556,000 | -51,743,000 | -23,547,000 | -35,698,000 | -40,044,000 | -37,608,000 | -42,897,000 | -48,618,000 | -38,477,000 | -51,475,000 | -37,427,000 | -43,129,000 | -41,661,000 | -49,563,000 | -41,476,000 | -56,594,000 | -32,697,000 | -56,238,000 | 39,333,000 | -29,129,000 | -27,319,000 | -29,721,000 | -88,000 | -8,779,000 | -18,123,000 | -23,471,000 | -25,358,000 | -28,729,000 | -26,524,000 | 69,135,000 | 39,332,581 | -17,754,000 | -11,060,000 | -10,572,000 |
cash flow from investing activities | |||||||||||||||||||||||||||||||||||||||||
purchases of property and equipment | -92,000 | -60,000 | -433,000 | 0 | -114,000 | -540,000 | -2,921,000 | -3,494,000 | -1,871,000 | -1,307,000 | -239,000 | -1,333,000 | -1,840,000 | -624,000 | -614,000 | -632,000 | -2,248,000 | -2,845,000 | -2,344,000 | -2,704,000 | -84,000 | -1,376,000 | -1,793,000 | -1,841,000 | -2,152,000 | -1,691,000 | -2,245,000 | -1,513,000 | -718,000 | -1,415,000 | -938,000 | -1,390,000 | -1,011,000 | -289,000 | -752,000 | -362,000 | -656,000 | 2,813,507 | -713,000 | -1,161,000 | -943,000 |
proceeds from the sale of equipment | 156,000 | 118,000 | 0 | 0 | 0 | -9,000 | 7,000 | 66,000 | 0 | 0 | 36,000 | 19,000 | 13,000 | 0 | 5,000 | 0 | |||||||||||||||||||||||||
proceeds from maturities of marketable securities | 0 | 40,006,000 | 42,499,000 | 56,501,000 | 31,494,000 | 86,900,000 | 55,445,000 | 83,350,000 | 102,900,000 | 49,000,000 | 41,700,000 | 65,905,000 | 78,500,000 | 116,104,000 | 119,750,000 | 119,000,000 | 84,326,000 | 73,126,000 | 74,200,000 | 130,750,000 | 30,500,000 | 83,500,000 | 76,000,000 | 115,000,000 | 46,500,000 | 78,500,000 | 109,500,000 | 126,000,000 | 101,000,000 | 114,000,000 | 101,500,000 | 94,500,000 | 104,000,000 | ||||||||
net cash from investing activities | 64,000 | 58,000 | 39,573,000 | 42,650,000 | 56,387,000 | 30,958,000 | 83,979,000 | 51,954,000 | -4,745,000 | 62,840,000 | -102,820,000 | 12,982,000 | 23,267,000 | -27,528,000 | 89,227,000 | -4,002,000 | 56,371,000 | -22,840,000 | -39,661,000 | 4,791,000 | 3,244,000 | -108,894,000 | -152,265,000 | 74,173,000 | 46,464,000 | 7,818,000 | -122,302,000 | 76,110,000 | 50,626,000 | -8,604,000 | -13,622,000 | -71,681,000 | 40,820,000 | 26,678,000 | -28,847,000 | -180,985,000 | -656,000 | 4,430,908 | -713,000 | -1,161,000 | -2,562,000 |
cash flow from financing activities | |||||||||||||||||||||||||||||||||||||||||
repayment on sale of future revenues | 0 | 0 | 0 | -2,872,000 | |||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock from at-the-market equity offering | 17,081,000 | ||||||||||||||||||||||||||||||||||||||||
net cash from financing activities | 17,326,000 | 17,169,000 | 7,412,000 | -1,437,000 | 55,513,000 | 0 | 322,000 | 192,000 | 514,000 | 0 | 619,000 | 80,000 | 367,000 | 218,000 | 1,057,000 | 2,496,000 | 17,082,000 | 261,471,000 | 9,100,000 | 822,000 | 211,153,000 | 3,047,000 | 84,569,000 | 43,353,000 | 2,369,000 | 1,533,000 | 30,352,000 | 1,240,000 | 2,667,000 | 52,681,000 | 58,479,000 | -730,000 | -309,000 | 97,094,000 | -97,601,839 | -22,000 | -494,000 | 98,215,000 | |||
net increase in cash, cash equivalents, and restricted cash | -22,997,000 | -19,003,000 | 25,899,000 | -150,000 | 7,151,000 | 41,114,000 | -138,279,000 | 91,796,000 | -12,501,000 | -69,182,000 | 41,303,000 | -41,480,000 | 7,362,000 | -56,365,000 | -77,950,000 | -17,084,000 | 215,236,000 | -139,894,000 | -206,244,000 | 254,470,000 | -4,575,000 | ||||||||||||||||||||
cash, cash equivalents, and restricted cash, beginning of period | 149,315,000 | 0 | 0 | 0 | 135,418,000 | 0 | 0 | 0 | 127,529,000 | 0 | 0 | 0 | 145,399,000 | 0 | 0 | 0 | 207,396,000 | 0 | 0 | 0 | 143,559,000 | 0 | 0 | 0 | 239,802,000 | ||||||||||||||||
cash, cash equivalents, and restricted cash, end of period | 126,318,000 | -19,003,000 | 25,899,000 | -150,000 | 142,569,000 | 35,709,000 | 31,391,000 | -4,786,000 | 73,104,000 | 41,114,000 | -138,279,000 | 91,796,000 | 132,898,000 | -69,182,000 | 41,303,000 | -41,480,000 | 214,758,000 | -56,365,000 | -77,950,000 | -17,084,000 | 358,795,000 | -139,894,000 | -206,244,000 | 254,470,000 | 235,227,000 | ||||||||||||||||
cash and cash equivalents, end of period | 123,648,000 | -19,003,000 | 27,106,000 | -150,000 | 138,692,000 | 35,709,000 | 31,391,000 | -4,786,000 | 69,227,000 | -57,554,000 | -207,456,000 | 351,552,000 | -199,688,677 | -17,776,000 | -11,554,000 | 229,204,000 | |||||||||||||||||||||||||
restricted cash1 | 2,670,000 | 0 | -1,207,000 | 0 | 3,877,000 | 0 | 0 | 0 | 3,877,000 | ||||||||||||||||||||||||||||||||
1 as of march 31, 2026 and march 31, 2025, restricted cash of 2,670 and 3,877 was included in restricted cash and other non-current assets on the condensed consolidated balance sheet, respectively. | |||||||||||||||||||||||||||||||||||||||||
supplemental disclosure of cash and non-cash activities: | |||||||||||||||||||||||||||||||||||||||||
loss on disposal of fixed assets | 0 | 0 | 10,000 | 0 | 0 | 1,583,000 | |||||||||||||||||||||||||||||||||||
net accretion of discounts on marketable securities | 0 | ||||||||||||||||||||||||||||||||||||||||
purchases of marketable securities | 4,000 | 0 | 3,000 | -86,224,000 | -38,753,000 | -151,581,000 | -27,385,000 | -40,798,000 | -105,404,000 | -26,263,000 | -123,138,000 | -60,381,000 | -104,321,000 | -110,443,000 | -66,705,000 | -127,422,000 | -158,041,000 | -233,979,000 | 0 | -66,384,000 | -37,057,000 | -198,557,000 | -31,877,000 | -74,692,000 | -108,208,000 | -126,697,000 | -171,791,000 | -52,674,000 | -77,033,000 | -117,610,000 | |||||||||||
proceeds from sale of future revenues | |||||||||||||||||||||||||||||||||||||||||
proceeds from exercise of stock options | 49,000 | 1,000 | 0 | 0 | 192,000 | 30,000 | 0 | 7,000 | 80,000 | 0 | 218,000 | 430,000 | 2,496,000 | 16,567,000 | 12,002,000 | 8,668,000 | 947,000 | 6,839,000 | 3,047,000 | 9,107,000 | 2,137,000 | 2,086,000 | 1,533,000 | 1,952,000 | 1,451,000 | 2,515,000 | 4,410,000 | 1,220,000 | 45,000 | 55,000 | 435,000 | ||||||||||
issuance of common stock under benefit plans | 612,000 | 0 | 626,000 | 0 | 545,000 | 0 | |||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock under employee stock purchase plan | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock from at the market equity offering | 7,184,000 | 1,435,000 | |||||||||||||||||||||||||||||||||||||||
1 as of march 31, 2025 and march 31, 2024, restricted cash of 3,877 and 3,877 was included in restricted cash and other non-current assets on the consolidated balance sheet, respectively. | |||||||||||||||||||||||||||||||||||||||||
net income | |||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||
non-cash interest expense on liability for sale of future revenues | |||||||||||||||||||||||||||||||||||||||||
other current and non-current liabilities | 1,673,000 | -3,136,000 | -891,000 | 511,000 | 833,000 | 1,124,000 | 525,000 | -878,000 | 881,000 | 8,000 | |||||||||||||||||||||||||||||||
proceeds from offering of common stock, net of issuance costs | 0 | 0 | 1,000 | 0 | -11,000 | 249,469,000 | -113,000 | -125,000 | 75,125,000 | 28,318,000 | 0 | -3,000 | 48,474,000 | ||||||||||||||||||||||||||||
1as of december 31, 2024, december 31, 2023, and december 31, 2022 restricted cash of 3,877, 3,877, and 3,877, respectively, was included in restricted cash and other non-current assets on the consolidated balance sheet | |||||||||||||||||||||||||||||||||||||||||
net decrease in cash, cash equivalents, and restricted cash | -54,425,000 | ||||||||||||||||||||||||||||||||||||||||
1 as of september 30, 2024, restricted cash of 3,877 was included in restricted cash and other non-current assets on the consolidated balance sheet | |||||||||||||||||||||||||||||||||||||||||
1 as of september 30, 2023, restricted cash of 3,878 was included in restricted cash and other non-current assets on the consolidated balance sheet | |||||||||||||||||||||||||||||||||||||||||
1 as of june 30, 2024, restricted cash of 3,877 was included in restricted cash and other non-current assets on the consolidated balance sheet | |||||||||||||||||||||||||||||||||||||||||
1 as of june 30, 2023, restricted cash of 3,877 was included in restricted cash and other non-current assets on the consolidated balance sheet | |||||||||||||||||||||||||||||||||||||||||
1 first quarter 2024 restricted cash of 3,877 was included in restricted cash and other non-current assets on the consolidated balance sheet | |||||||||||||||||||||||||||||||||||||||||
1 first quarter of 2023 restricted cash of 3,877 was included in restricted cash and other non-current assets on the consolidated balance sheet | |||||||||||||||||||||||||||||||||||||||||
fixed asset additions included in accounts payable and accrued expenses | 1,644,000 | 646,000 | -13,000 | -158,000 | 370,000 | 1,027,000 | 286,000 | -72,000 | 199,000 | 152,000 | -482,000 | 612,000 | 467,000 | -254,000 | 481,000 | -276,000 | 705,000 | -44,000 | 676,000 | -260,000 | 356,000 | -17,000 | 305,000 | 242,000 | 129,000 | 389,000 | 143,000 | 84,000 | 7,000 | -243,870 | -20,000 | -262,000 | 526,000 | ||||||||
cash paid in connection with operating lease liabilities | 3,325,000 | 3,365,000 | 1,841,000 | 3,897,000 | 2,957,000 | 4,805,000 | 3,343,000 | 3,746,000 | 4,176,000 | 2,187,000 | 2,483,000 | 4,248,000 | 2,003,000 | 2,632,000 | 2,587,000 | 2,538,000 | 1,366,000 | 1,515,000 | 1,365,000 | 1,724,000 | |||||||||||||||||||||
right-of-use assets obtained in exchange of operating lease obligations | 1,683,000 | 0 | 25,153,000 | 983,000 | 0 | 0 | 0 | 0 | 19,461,000 | ||||||||||||||||||||||||||||||||
offering expenses included in accounts payable and accrued expenses | |||||||||||||||||||||||||||||||||||||||||
remeasurement of operating lease liabilities and right-of-use assets due to lease modification | -3,781,000 | ||||||||||||||||||||||||||||||||||||||||
realized gain on corporate equity securities | |||||||||||||||||||||||||||||||||||||||||
non-cash research and development expenses | 0 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||
proceeds from sale of corporate equity securities | |||||||||||||||||||||||||||||||||||||||||
issuance of common stock for settlement of success payments | 27,500,000 | 0 | 0 | 9,530,000 | |||||||||||||||||||||||||||||||||||||
offering costs included in accounts payable and accrued expenses | 10,000 | -124,000 | 0 | 3,000 | 19,000 | ||||||||||||||||||||||||||||||||||||
unrealized gain on corporate equity securities | 1,416,000 | -7,192,000 | -7,333,000 | ||||||||||||||||||||||||||||||||||||||
non-cash investment in equity securities | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
payments on construction financing lease obligation | -236,000 | -211,000 | -207,000 | -203,000 | -199,000 | -175,000 | 53,000 | -443,000 | |||||||||||||||||||||||||||||||||
reclassification of liability for common stock subject to repurchase | 0 | 0 | 1,000 | 3,000 | 2,000 | 3,000 | 3,000 | 3,000 | -7,989 | 2,000 | 3,000 | 3,000 | |||||||||||||||||||||||||||||
issuance of common stock for repayment of notes payable | |||||||||||||||||||||||||||||||||||||||||
issuance of common stock for asset acquisition | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
receivable of proceeds from offering of common stock | |||||||||||||||||||||||||||||||||||||||||
issuances of common stock under benefit plans | 337,000 | 0 | 318,000 | 0 | |||||||||||||||||||||||||||||||||||||
payments of notes payable | 0 | ||||||||||||||||||||||||||||||||||||||||
non-cash research and development expense | 0 | 12,500,000 | 1,942,000 | ||||||||||||||||||||||||||||||||||||||
right-of-use asset | -204,000 | 1,003,000 | 981,000 | ||||||||||||||||||||||||||||||||||||||
operating lease liability | 218,000 | -946,000 | -1,379,000 | ||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -20,223,000 | ||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash, beginning of period | 0 | 0 | 136,395,000 | 0 | 0 | 148,249,000 | |||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash, end of period | -105,833,000 | 52,673,000 | 159,551,000 | -20,223,000 | -85,747,000 | 219,290,000 | |||||||||||||||||||||||||||||||||||
issuance of common stock for settlement of notes payable | 0 | 0 | |||||||||||||||||||||||||||||||||||||||
adjustment to deferred revenue for revenue adoption | 474,000 | ||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | 52,673,000 | 23,156,000 | 71,041,000 | -57,554,000 | -207,456,000 | 166,229,000 | -56,651,857 | -17,776,000 | -11,554,000 | 86,024,000 | |||||||||||||||||||||||||||||||
receivable of proceeds from exercise of stock options | |||||||||||||||||||||||||||||||||||||||||
issuance of common stock for settlement of liabilities | |||||||||||||||||||||||||||||||||||||||||
re-measurement of warrant to purchase redeemable securities | 0 | 87,000 | |||||||||||||||||||||||||||||||||||||||
accretion of redeemable convertible preferred stock to redemption value | -46,953 | 0 | 0 | 47,000 | |||||||||||||||||||||||||||||||||||||
reclassification of warrants to additional paid in capital | |||||||||||||||||||||||||||||||||||||||||
conversion of preferred stock to common stock upon closing of the initial public offering | -199,715,038 | 0 | 0 | 199,915,000 | |||||||||||||||||||||||||||||||||||||
payments of notes payables | |||||||||||||||||||||||||||||||||||||||||
change in fair value of preferred stock tranche asset or liability | |||||||||||||||||||||||||||||||||||||||||
changes in fair value of anti-dilutive protection liability | |||||||||||||||||||||||||||||||||||||||||
proceeds from equipment loan, net of issuance costs | |||||||||||||||||||||||||||||||||||||||||
proceeds from the issuance of redeemable convertible preferred stock and tranche rights, net of issuance costs | |||||||||||||||||||||||||||||||||||||||||
payments of equipment loan principal | |||||||||||||||||||||||||||||||||||||||||
payments of final fee for loan payoff | |||||||||||||||||||||||||||||||||||||||||
proceeds from the issuance of common stock and restricted stock | |||||||||||||||||||||||||||||||||||||||||
payments of initial public offering costs | |||||||||||||||||||||||||||||||||||||||||
construction financing lease obligation | |||||||||||||||||||||||||||||||||||||||||
conversion of anti-dilutive protection liability to common stock | |||||||||||||||||||||||||||||||||||||||||
interest paid | |||||||||||||||||||||||||||||||||||||||||
reclassification of preferred stock tranche liability upon settlement | |||||||||||||||||||||||||||||||||||||||||
changes in restricted cash | 1,617,381 | 0 | 0 | -1,619,000 | |||||||||||||||||||||||||||||||||||||
proceeds from public offering of common stock, net of issuance costs | 0 | -417,000 | 97,102,000 | ||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, beginning of period | 0 | 0 | 185,323,000 | -143,036,820 | 0 | 0 | 143,180,000 | ||||||||||||||||||||||||||||||||||
offering costs incurred but unpaid at period end | 397,000 | ||||||||||||||||||||||||||||||||||||||||
changes in fair value of warrant liability | -86,913 | ||||||||||||||||||||||||||||||||||||||||
interest related to facility lease obligation | |||||||||||||||||||||||||||||||||||||||||
changes in deferred rent | -264,690 | 110,000 | 110,000 | 45,000 | |||||||||||||||||||||||||||||||||||||
proceeds from initial public offering of common stock, net of issuance costs | -97,390,512 | -196,000 | -498,000 | 98,182,000 | |||||||||||||||||||||||||||||||||||||
accrual of final payment fee on equipment loan and debt discount | |||||||||||||||||||||||||||||||||||||||||
initial public offering costs incurred but unpaid at period end | -301,000 | 497,000 | |||||||||||||||||||||||||||||||||||||||
non-cash interest expense | |||||||||||||||||||||||||||||||||||||||||
proceeds from stock option exercises | 174,000 | 4,000 | 33,000 | ||||||||||||||||||||||||||||||||||||||
capitalization of construction-in-progress related to facility lease obligation | 9,919,000 | 11,027,000 | 11,649,000 | ||||||||||||||||||||||||||||||||||||||
reclassification of warrants to additional paid-in capital | 0 | 0 | 376,000 | ||||||||||||||||||||||||||||||||||||||
non-cash loss on debt extinguishment | |||||||||||||||||||||||||||||||||||||||||
cash paid for interest |
