7Baggers

89bio, Inc
(NASDAQ:ETNB) 

ETNB stock logo

89bio, Inc., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for the treatment of liver and cardio-metabolic diseases. Its lead product candidate is BIO89-100, a glycoPEGylated analog of fibroblast growth factor 21 for the treatment of nonalc...

Founded: 2018
IPO Price: $16 (Nov 11, 2019)
Full Time Employees: 25
CEO: Rohan Palekar  
Sector: Healthcare
Industry: Biotechnology
Pharmaceuticals
Share this website to your friends
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2025-06-30 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 2019-01-18 
                             
      operating expenses:
    		                         
      research and development
    		103,902,000 64,394,000 111,303,000 141,441,000 44,865,000 47,428,000 33,592,000 31,417,000 34,915,000 22,306,000 19,064,000 22,197,000 19,686,000 19,849,000 20,979,000 23,590,000 15,630,000 10,131,000 8,770,000 11,208,000 8,443,000 7,778,000 7,192,000 6,680,000  
      general and administrative
    		11,922,000 11,515,000 10,702,000 10,497,000 8,571,000 9,849,000 7,614,000 7,928,000 7,214,000 6,218,000 6,298,000 4,844,000 5,052,000 5,259,000 5,262,000 4,622,000 4,921,000 4,608,000 3,777,000 3,225,000 3,230,000 2,924,000 2,419,000 1,518,000  
      total operating expenses
    		115,824,000 75,909,000 122,005,000 151,938,000 53,436,000 57,277,000 41,206,000 39,345,000 42,129,000 28,524,000 25,362,000 27,041,000 24,738,000 25,108,000 26,241,000 28,212,000 20,551,000 14,739,000 12,547,000 14,433,000 11,673,000 10,702,000 9,611,000 8,198,000  
      income from operations
    		-115,824,000 -75,909,000 -122,005,000 -151,938,000 -53,436,000 -57,277,000 -41,206,000 -39,345,000 -42,129,000 -28,524,000 -25,362,000 -27,041,000 -24,738,000 -25,108,000 -26,241,000 -28,212,000 -20,551,000 -14,739,000 -86,163,000 14,433,000 11,673,000 10,702,000 9,611,000 8,198,000  
      yoy
    		116.75% 32.53% 196.09% 286.17% 26.84% 100.80% 62.47% 45.50% 70.30% 13.61% -3.35% -4.15% 20.37% 70.35% -69.54% -295.47% -276.06% -237.72% -996.50% 76.06%      
      qoq
    		52.58% -37.78% -19.70% 184.34% -6.71% 39.00% 4.73% -6.61% 47.70% 12.47% -6.21% 9.31% -1.47% -4.32% -6.99% 37.28% 39.43% -82.89% -696.99% 23.64% 9.07% 11.35% 17.24%   
      interest expense
    		-1,137,000 -1,267,000 -1,191,000 -2,362,000 -874,000 -863,000 -866,000 -959,000 -894,000 -2,075,000                
      interest income and other
    		6,210,000 6,038,000 5,099,000 5,431,000 6,473,000 6,556,000 5,704,000 5,579,000 4,630,000 1,763,000                
      net loss before income tax
    		-110,751,000 -71,138,000 -118,097,000 -148,869,000 -47,837,000 -51,584,000 -36,368,000 -34,725,000 -38,393,000 -28,836,000                
      income tax expense
    		-753,000 -137,000 -257,000 -204,000 -134,000 -97,000     -750 -2,000  -1,000     5,750 24,000  -1,000 132,000 57,000  
      net income
    		-111,504,000 -71,275,000 -118,354,000 -149,073,000 -47,971,000 -51,681,000 -40,235,000 -34,725,000 -38,393,000 -28,836,000 -24,602,000 -26,805,000 -25,054,000 -25,565,000 -26,288,000 -28,329,000 -20,723,000 -14,782,000 -86,417,000 14,603,000      
      yoy
    		132.44% 37.91% 194.16% 329.30% 24.95% 79.22% 63.54% 29.55% 53.24% 12.79% -6.41% -5.38% 20.90% 72.95% -69.58% -293.99%          
      qoq
    		56.44% -39.78% -20.61% 210.76% -7.18% 28.45% 15.87% -9.55% 33.14% 17.21% -8.22% 6.99% -2.00% -2.75% -7.20% 36.70% 40.19% -82.89% -691.78%       
      other comprehensive income:
    		                         
      unrealized loss on marketable securities
    		-244,000 -170,000   -169,000                     
      foreign currency translation adjustments
    		-19,000 -8,000  -10,000 5,000 5,000 -10,000 6,000 1,000 -4,000 -19,000 14,000 15,000 3,000 6,000 6,000 -6,000 11,000 -28,000 10,000      
      total other comprehensive loss
    		-263,000 -178,000   -164,000    -354,000          -13,000 3,000      
      comprehensive loss
    		-111,767,000 -71,453,000 -119,060,000 -147,121,000 -48,135,000 -52,390,000 -39,498,000 -34,678,000 -38,747,000 -28,726,000 -24,512,000 -26,927,000 -25,116,000 -25,757,000 -26,358,000 -28,327,000 -20,716,000 -14,775,000 -86,430,000 14,606,000      
      net income per share
    		-0.71 -0.49 -1.05 -1.39 -0.48 -0.54 -0.5 -0.45 -0.52 -0.54 -0.3 -0.57 -1.23 -1.26 -1.3 -1.41 1.03 0.74 -0.59 -0.86 0.85 0.76 86.88 -30.63  
      weighted-average shares used for eps calculation
    		157,880,203 146,365,115 104,714,613 107,075,197 99,831,111 95,846,740 71,172,870 76,336,050 74,126,569 53,171,370 34,806,349 47,253,527 20,351,560 20,339,416 20,098,340 20,092,094 20,060,061 20,010,412 16,087,785 16,884,244 13,797,356 13,789,786 2,344,191 611,226  
      unrealized gain on marketable securities
    		  -715,000 1,962,000  -714,000                    
      total other comprehensive income
    		  -706,000 1,952,000  -709,000 737,000 47,000  110,000 -94,000 -122,000 -62,000 -192,000 4,000 2,000 7,000 7,000        
      unrealized gain on available-for-sale securities
    		      -50,000 41,000  114,000 -102,000 -136,000 -77,000  -76,000 -4,000 13,000  15,000 -7,000      
      other comprehensive loss:
    		                         
      unrealized loss on available-for-sale securities
    		        -355,000     -195,000    -4,000        
      other income (expenses)
    		          -133,500 238,000              
      net loss before tax
    		          -19,355,250 -26,803,000 -25,054,000 -25,564,000 -15,958,500 -28,329,000 -20,723,000 -14,782,000 9,223,750 14,579,000 11,771,000 10,545,000 19,151,000 18,668,000  
      other expenses
    		            -316,000 -456,000 -194,000 -117,000   -290,000 146,000   5,255,500 10,470,000  
      other (expenses) income
    		                -172,000 -43,000        
      income tax benefit
    		                         
      other expenses (income)
    		                    98,000     
      net loss and comprehensive loss
    		                    11,771,000 10,544,000 19,283,000 18,725,000  
      other income
    		                     -157,000    
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2025-06-30 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 
                              
        assets
      		                        
        current assets:
      		                        
        cash and cash equivalents
      		129,076,000 315,396,000 126,060,000 91,411,000 212,218,000 217,573,000 316,161,000 251,926,000 245,441,000 350,930,000 55,255,000 72,401,000 60,618,000 54,889,000 52,432,000 39,695,000 35,714,000 68,007,000 98,183,000 141,551,000 68,199,000 85,532,000 93,335,000 16,188,000 
        marketable securities
      		432,088,000 323,384,000 313,895,000 332,363,000 319,166,000 344,715,000 262,709,000                  
        prepaid and other current assets
      		40,356,000 44,164,000 36,495,000 32,432,000 48,470,000 12,494,000 14,664,000 11,222,000 13,879,000 12,747,000 7,920,000 6,513,000 7,218,000 9,298,000 11,237,000 9,678,000 9,585,000 8,286,000 5,548,000 3,360,000 1,371,000 1,857,000 1,966,000 362,000 
        total current assets
      		601,520,000 682,944,000 476,450,000 456,206,000 579,854,000 574,782,000 593,534,000 459,526,000 491,874,000 493,630,000 196,080,000 199,854,000 146,568,000 135,409,000 161,982,000 167,036,000 180,573,000 197,936,000 210,202,000 222,538,000 75,291,000 87,413,000 95,326,000 16,588,000 
        property and equipment
      		77,000 85,000 23,000 17,000 27,000 37,000 46,000 58,000 68,000 78,000 92,000 105,000 121,000 138,000 150,000 146,000 154,000 161,000 166,000 177,000 191,000 204,000 155,000 49,000 
        operating lease right-of-use assets
      		1,256,000 1,409,000 1,572,000 1,760,000 1,942,000 2,118,000 2,293,000                  
        other assets
      		632,000 593,000 640,000 314,000 315,000 385,000 396,000 289,000 289,000 289,000 289,000 218,000 797,000 218,000 290,000 874,000 984,000 557,000 706,000 713,000 1,080,000 72,000 72,000  
        total assets
      		603,485,000 685,031,000 478,685,000 458,297,000 582,138,000 577,322,000 596,269,000 460,111,000 492,511,000 494,319,000 196,824,000 200,580,000 147,595,000 135,765,000 162,422,000 168,056,000 181,711,000 198,654,000 211,074,000 223,428,000 76,562,000 87,689,000 95,553,000 18,354,000 
        liabilities and stockholders’ equity
      		                        
        current liabilities:
      		                        
        accounts payable
      		14,657,000 14,790,000 15,382,000 19,490,000 17,461,000 15,352,000 8,585,000 10,903,000 10,715,000 16,727,000 12,502,000 14,151,000 4,907,000 4,421,000 6,843,000 12,526,000 1,915,000 4,521,000 2,065,000 4,086,000 3,070,000 4,055,000 989,000 3,571,000 
        accrued expenses
      		24,170,000 22,343,000 20,020,000 18,898,000 18,663,000 20,295,000 20,530,000 14,133,000 15,056,000 7,117,000 11,944,000 13,437,000 14,388,000 8,979,000 10,194,000 7,319,000 5,665,000 3,938,000 6,048,000 5,338,000 3,721,000 3,732,000 4,620,000 2,992,000 
        operating lease liabilities, current
      		784,000 751,000 727,000 743,000 759,000 702,000 496,000                  
        total current liabilities
      		39,611,000 37,884,000 36,129,000 39,131,000 41,653,000 38,241,000 29,611,000 25,212,000 25,944,000 24,015,000 24,614,000 34,423,000 26,899,000 18,400,000 19,537,000 19,845,000 7,580,000 8,459,000 8,113,000 9,424,000 6,791,000 7,787,000 5,609,000 22,579,000 
        operating lease liabilities, noncurrent
      		679,000 888,000 1,090,000 1,281,000 1,463,000 1,640,000                   
        warrant liability
      		 295,000 516,000 487,000                     
        term loan, noncurrent
      		36,156,000 35,940,000 35,732,000 35,544,000 20,355,000 23,065,000                   
        other noncurrent liabilities
      		5,306,000 4,566,000 4,429,000 3,752,000 3,750,000 3,837,000                   
        total liabilities
      		81,752,000 79,573,000 77,896,000 80,195,000 67,221,000 66,783,000 59,963,000 49,902,000 50,525,000 48,489,000 44,992,000 48,005,000 67,410,000 33,024,000 36,465,000 21,286,000 9,006,000        
        commitments and contingencies
      		                        
        stockholders’ equity:
      		                        
        common stock
      		148,000 146,000 120,000 106,000 105,000 95,000  75,000 75,000 73,000  44,000 20,000 20,000  20,000 20,000 20,000  20,000 14,000 14,000  1,000 
        additional paid-in capital
      		1,528,753,000 1,500,713,000 1,224,617,000 1,082,884,000 1,072,579,000 1,020,076,000 993,455,000 827,878,000 824,977,000 790,076,000 467,374,000 443,612,000 344,319,000 341,759,000 339,218,000 333,673,000 331,281,000 328,055,000 326,046,000 324,501,000 165,668,000 164,028,000 163,526,000 341,000 
        accumulated other comprehensive income
      		122,000 385,000 563,000 1,269,000 -683,000 -519,000 190,000         6,000 4,000        
        accumulated deficit
      		-1,007,290,000 -895,786,000 -824,511,000 -706,157,000 -557,084,000 -509,113,000 -457,432,000 -417,197,000 -382,472,000 -344,079,000 -315,243,000 -290,641,000 -263,836,000 -238,782,000 -213,217,000 -186,929,000 -158,600,000 -137,877,000 -123,095,000 -110,514,000 -95,911,000 -84,140,000 -73,596,000 -54,313,000 
        total stockholders’ equity
      		521,733,000 605,458,000 400,789,000 378,102,000 514,917,000 510,539,000 536,306,000 410,209,000 441,986,000 445,830,000 151,832,000 152,575,000 80,185,000 102,741,000 125,957,000 146,770,000 172,705,000 190,195,000 202,961,000 214,004,000 69,771,000 79,902,000 89,944,000  
        total liabilities and stockholders’ equity
      		603,485,000 685,031,000 478,685,000 458,297,000 582,138,000 577,322,000 596,269,000 460,111,000 492,511,000 494,319,000 196,824,000 200,580,000 147,595,000 135,765,000 162,422,000 168,056,000 181,711,000 198,654,000 211,074,000 223,428,000 76,562,000 87,689,000   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; none issued and outstanding
      		                        
        term loan, current
      		    4,770,000 1,892,000      6,667,000 7,500,000 5,000,000 2,500,000          
        operating lease liabilities, non-current
      		      1,817,000                  
        term loan, non-current
      		      24,795,000 24,637,000 24,483,000 24,332,000 19,691,000 12,958,000 12,050,000 14,473,000 16,898,000 1,441,000 1,426,000        
        other non-current liabilities
      		      3,740,000                  
        preferred stock, 0.001 par value...
      		                        
        common stock, 0.001 par value...
      		      93,000    51,000    20,000    20,000    14,000  
        short-term available-for-sale securities
      		       196,378,000 232,554,000 129,953,000 132,905,000 120,940,000 78,707,000 71,197,000 98,288,000 117,638,000 135,249,000 121,618,000       
        operating lease right-of-use asset
      		       238,000 280,000 322,000 363,000 403,000 109,000            
        operating lease liability, current
      		       176,000 173,000 171,000 168,000 168,000 104,000            
        operating lease liability, non-current
      		       53,000 98,000 142,000 186,000 229,000             
        accumulated other comprehensive loss
      		       -547,000 -594,000 -240,000 -350,000 -440,000 -318,000 -256,000 -64,000   -3,000 -10,000 -3,000     
        restricted cash
      		            25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 24,000 24,000 25,000 38,000 
        other non-current liability
      		          501,000 395,000 275,000 151,000 30,000          
        liability related to public offering
      		            28,186,000            
        short-term investments
      		                  106,446,000 77,602,000 5,697,000    
        deferred tax assets
      		                       89,000 
        liabilities, convertible preferred stock and stockholders’ equity
      		                        
        convertible preferred stock liability
      		                       16,016,000 
        convertible preferred stock, 0.001 par value...
      		                        
        stockholders’ equity
      		                        
        total liabilities, convertible preferred stock and stockholders’ equity
      		                      95,553,000  
        deferred offering costs
      		                       1,628,000 
        liabilities, convertible preferred stock, convertible preferred shares and stockholders’ deficit
      		                        
        convertible preferred stock
      		                       49,746,000 
        convertible preferred shares
      		                        
        stockholders’ deficit:
      		                        
        ordinary shares
      		                        
        total stockholders’ deficit
      		                       -53,971,000 
        total liabilities, convertible preferred stock, convertible preferred shares and stockholders’ deficit
      		                       18,354,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2025-06-30 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 
                               
          cash flows from operating activities:
        		                       
          net loss
        		-111,504,000 -71,275,000 -118,354,000 -149,073,000 -47,971,000 -51,681,000 -40,235,000 -34,725,000 -38,393,000 -28,836,000 -24,602,000 -26,805,000 -25,054,000 -25,565,000 -26,288,000 -28,329,000 -20,723,000 -14,782,000 -12,581,000 -14,603,000 -11,771,000 -10,544,000 -19,283,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                       
          stock-based compensation
        		7,315,000 7,216,000 5,205,000 5,262,000 5,169,000 4,998,000 4,037,000 4,381,000 4,137,000 3,551,000 2,758,000 2,500,000 2,586,000 2,512,000 2,154,000 2,314,000 2,417,000 1,793,000      
          net accretion of discounts on investments in marketable securities
        		-2,326,000 -1,898,000  -2,481,000 -2,584,000 -2,822,000                  
          amortization of debt discount and accretion of deferred debt costs
        		318,000 455,000 326,000 175,000 168,000 162,000                  
          noncash operating lease expense
        		153,000 163,000 188,000 182,000 176,000 175,000  42,000 42,000 41,000              
          depreciation
        		8,000 10,000 9,000 8,000 12,000 9,000 16,000 10,000 10,000 14,000 15,000 16,000 16,000 18,000 21,000 23,000 20,000 15,000 13,000 18,000 17,000 12,000 5,000 
          change in fair value of warrant liability
        		-295,000 -221,000                      
          other
        		                       
          changes in operating assets and liabilities:
        		                       
          prepaid expenses and other assets
        		3,667,000 -7,869,000                      
          accounts payable
        		-152,000 -600,000 -3,963,000 2,019,000 2,235,000 6,767,000 -2,318,000 188,000 -6,012,000 4,225,000 -1,649,000 9,244,000 486,000 -2,422,000 -5,681,000 10,618,000 -2,609,000 2,450,000 -1,673,000 681,000 -943,000 3,066,000 -2,130,000 
          accrued expenses
        		1,827,000 2,323,000 1,122,000 235,000 -1,867,000 457,000 5,687,000 -923,000 7,939,000 -4,827,000 -1,493,000 -951,000 5,409,000 -1,215,000 2,875,000 1,654,000 1,727,000 -2,110,000 969,000 1,648,000 -301,000 -888,000 2,118,000 
          operating lease liabilities
        		-176,000 -178,000 -207,000 -198,000 -120,000 29,000                  
          other noncurrent liabilities
        		740,000 137,000 677,000 2,000 -87,000 97,000                  
          net cash from operating activities
        		-100,425,000 -71,737,000 -121,580,000 -145,359,000 -61,164,000 -39,720,000 -34,293,000 -30,361,000 -34,447,000 -30,085,000 -27,096,000 -14,815,000 -14,835,000 -24,344,000 -28,240,000 -13,450,000 -20,109,000 -14,982,000 -14,028,000 -12,940,000 -11,524,000 -7,752,000 -11,132,000 
          capital expenditures
        		0 -72,000 0 0 0 0 0 0 0  -2,000 0 1,000  -27,000 -16,000 -16,000 -4,000 -2,000 -17,000 -46,000 -61,000 -111,000 
          free cash flows
        		-100,425,000 -71,809,000 -121,580,000 -145,359,000 -61,164,000 -39,720,000 -34,293,000 -30,361,000 -34,447,000  -27,098,000 -14,815,000 -14,834,000  -28,267,000 -13,466,000 -20,125,000 -14,986,000 -14,030,000 -12,957,000 -11,570,000 -7,813,000 -11,243,000 
          cash flows from investing activities:
        		                       
          proceeds from sales and maturities of marketable securities
        		114,790,000 97,341,000 82,850,000 74,285,000 105,950,000 72,140,000                  
          purchases of marketable securities
        		-221,412,000 -105,102,000 -63,011,000 -82,924,000 -78,101,000 -152,038,000                  
          purchases of property and equipment
        		0 -72,000         -2,000 0 1,000 -6,000 -27,000 -16,000 -16,000 -4,000 -2,000 -17,000 -46,000 -61,000 -111,000 
          net cash from investing activities
        		-106,622,000 -7,833,000 19,824,000 -8,639,000 27,849,000 -79,898,000 -63,643,000 38,326,000 -101,808,000 4,106,000 -11,061,000 -42,058,000 -7,596,000 26,772,000 19,086,000 17,359,000 -13,876,000 -15,410,000 -29,028,000 -71,999,000 -5,744,000 -61,000 -111,000 
          cash flows from financing activities:
        		                       
          proceeds from issuance of common stock and pre-funded warrants in public offering, net of issuance costs
        		0 269,903,000                      
          payments of deferred offering costs
        		  -137,000 0 137,000 -253,000                  
          proceeds from issuance of common stock under at-the-market program, net of issuance costs
        		                       
          proceeds from issuance of common stock upon exercise of common stock warrants
        		  0 24,664,000 27,745,000 1,798,000                  
          proceeds from issuance of common stock upon exercise of stock options
        		26,000 33,000 99,000 82,000 -43,000 104,000 4,000 117,000 327,000 185,000 68,000           9,000  
          proceeds from issuance of common stock under employee stock purchase plan
        		  178,000 0                    
          payments for taxes related to net share settlement upon vesting of restricted stock units
        		-568,000 -1,030,000 -18,000 -904,000 -39,000 -1,686,000                  
          net cash from financing activities
        		20,727,000 268,906,000 136,405,000 33,191,000 27,960,000 21,030,000 162,171,000 -1,480,000 30,766,000 321,654,000 21,011,000 68,631,000 28,160,000 29,000 21,891,000 72,000 1,692,000 216,000 -312,000 158,292,000 -65,000 9,000 88,377,000 
          net change in cash and cash equivalents
        		-186,320,000 189,336,000 34,649,000 -120,807,000 -5,355,000 -98,588,000                  
          cash and cash equivalents at beginning of period
        		0 126,060,000  0 0 316,161,000                  
          cash and cash equivalents at end of period
        		-186,320,000 315,396,000  -120,807,000 -5,355,000 217,573,000                  
          supplemental disclosures of cash information:
        		                       
          cash paid for interest
        		827,000 814,000 1,082,000 685,000 689,000 679,000 680,000 715,000 656,000 542,000 370,000 302,000 235,000 169,000          
          proceeds from issuance of common stock in at-the-market public offering, net of issuance costs
        		      0 0 23,667,000 13,422,000 20,083,000             
          accretion of discounts on marketable securities, net of amortization of premiums
        		                       
          loss on extinguishment of debt
        		  0                     
          prepaid and other assets
        		  -4,527,000 -2,880,000 -16,408,000 2,089,000                  
          proceeds from issuance of common stock and warrants in public offerings, net of issuance costs
        		                       
          proceeds from issuance of common stock in at-the-market public offerings, net of issuance costs
        		  0 0 -18,000 21,067,000                  
          proceeds from term loan facility, net of issuance costs
        		  0    0 0 0 24,363,000     18,500,000 -6,000        
          repayment of term loan
        		                       
          cash and cash equivalents:
        		                       
          beginning of period
        		                       
          end of period
        		                       
          cash paid for amounts included in the measurement of lease liabilities
        		  268,000 267,000                    
          supplemental disclosures of noncash information:
        		                       
          unpaid offering costs included in accrued expenses
        		     18,000                  
          right-of-use assets obtained in exchange for operating lease liabilities
        		                       
          remeasurement of lease liability and right of use asset in connection with lease modification
        		          0             
          issuance of common stock warrants in connection with term loans
        		                       
          proceeds from issuance of common stock in public offerings, net of issuance costs
        		                       
          issuance of common stock warrants in connection with term loan
        		       0 0 482,000              
          cash paid related to operating lease liabilities
        		     46,000                  
          net amortization of investments in marketable securities
        		                       
          non-cash operating lease expense
        		          40,000 44,000            
          deferred tax assets
        		                      89,000 
          other non-current liabilities
        		                       
          proceeds from issuance of common stock upon espp purchases
        		      126,000 0   7,000 0            
          net change in cash and cash equivalents, and restricted cash
        		      64,235,000 6,485,000 -105,489,000 295,675,000 -17,146,000 11,758,000 5,729,000 2,457,000 12,737,000         
          cash and cash equivalents, and restricted cash at beginning of period
        		      0 0 0 55,255,000 0 0 0 52,457,000 0 0 0 98,208,000 0 0 0 93,360,000  
          cash and cash equivalents, and restricted cash at end of period
        		        -105,489,000 350,930,000 -17,146,000 11,758,000 5,729,000 54,914,000 12,737,000 3,981,000 -32,293,000 68,032,000 -43,368,000 73,353,000 -17,333,000 85,556,000  
          components of cash and cash equivalents, and restricted cash:
        		                       
          cash and cash equivalents
        		        -105,489,000 350,930,000 -17,146,000 11,783,000 5,729,000 54,889,000 12,737,000 3,981,000 -32,293,000 68,007,000 -43,368,000 73,352,000 -17,333,000 85,532,000 77,147,000 
          restricted cash
        		            0 25,000 0 0 0 25,000 0 1,000 0 24,000 -13,000 
          total cash and cash equivalents, and restricted cash
        		        -105,489,000 350,930,000 -17,146,000 11,758,000 5,729,000 54,914,000 12,737,000 3,981,000 -32,293,000 68,032,000 -43,368,000 73,353,000 -17,333,000 85,556,000 77,134,000 
          right-of-use assets obtained in exchange for new operating lease liabilities
        		                       
          issuance of common stock warrant in connection with term loan facility
        		              0 0   0 0    
          net accretion on available-for-sale securities
        		                       
          accretion of final payment fee on term loan
        		       100,000 98,000 87,000  120,000            
          amortization of debt issuance costs
        		       139,000 139,000 132,000  75,000 77,000 75,000  198,000 117,000 77,000 76,000 77,000    
          loss on extinguishment of term loan facility
        		       0 0 1,208,000              
          prepaid and other current assets
        		       2,578,000 -1,217,000 -4,599,000 -1,425,000 719,000 2,095,000 1,942,000 -1,553,000 -87,000 -1,306,000 -2,726,000      
          other assets
        		           579,000 -579,000 72,000  -73,000 5,000 72,000      
          operating lease liability
        		       -42,000 -42,000 -41,000 -43,000 -45,000            
          proceeds from sales and maturities of available-for-sale securities
        		       74,548,000 45,000,000 37,880,000     40,795,000 43,675,000        
          purchases of available-for-sale securities
        		       -36,222,000 -146,808,000 -33,774,000 -42,559,000 -69,406,000 -31,330,000 -9,401,000 -21,682,000 -26,300,000 -47,916,000 -45,302,000 -40,190,000 -73,007,000    
          proceeds from issuance of common stock in public offering, net of issuance costs
        		       0 0 296,817,000              
          proceeds from issuance of common stock upon exercise of warrants
        		       0 6,630,000 8,960,000 1,029,000             
          payment of withholding taxes related to restricted stock units
        		       -1,597,000 0 -693,000 -176,000 -53,000            
          repayment of term loan facility
        		       0 0 -21,400,000              
          cash paid for operating leases
        		       46,000 46,000 47,000 47,000 60,000            
          net amortization on available-for-sale securities
        		        -1,148,000 -1,040,000              
          offering costs included in other assets and accrued expenses
        		                       
          amortization of debt issuance costs and accretion of final payment fee
        		                       
          proceeds from issuance of common stock and warrants in public offering, net of issuance costs
        		          0             
          amortization of premium on available-for-sale securities
        		           -311,000 10,000 118,000 161,000 232,000 243,000 229,000 183,000 84,000    
          proceeds from maturities of available-for-sale securities
        		           27,348,000 23,733,000 36,179,000    29,896,000 11,164,000     
          supplemental disclosures of non-cash information:
        		                       
          proceeds from public offering, prior to closing
        		                       
          proceeds from issuance of common stock upon stock option exercises
        		            0 29,000 41,000 78,000 152,000 216,000 236,000 5,000    
          purchases of property and equipment included in accounts payable and accrued expenses
        		                       
          debt issuance costs included in accounts payable
        		                       
          accretion of final payment fee
        		             121,000          
          cash paid for income taxes
        		                       
          proceeds from issuance of common stock upon public offerings, net of issuance costs
        		                       
          payment of debt issuance costs
        		                  0 0    
          proceeds from issuance of common stock upon espp purchase
        		               0    0    
          supplemental cash flow disclosures:
        		                       
          offering costs included in accounts payable and accrued expenses
        		                       
          net decrease in cash and cash equivalents, and restricted cash
        		                -32,293,000 -30,176,000    -7,804,000  
          property and equipment purchases included in accounts payable and accrued expenses
        		                -3,000 6,000    54,000  
          deferred offering costs included in accrued expenses
        		                       
          cash paid for taxes
        		                 154,000 7,000     
          share-based compensation
        		                  1,250,000 1,154,000 910,000 493,000 166,000 
          revaluation of convertible preferred stock liability
        		                      9,579,000 
          prepaids and other current assets
        		                    486,000 109,000 -1,604,000 
          proceeds from issuance of common stock upon initial public offering, net of issuance costs
        		                       
          proceeds from issuance of convertible preferred stock and convertible preferred stock liability, net of issuance costs
        		                      0 
          proceeds from issuance of common stock
        		                      0 
          net increase in cash and cash equivalents, and restricted cash
        		                  -43,368,000 73,353,000   77,134,000 
          property and equipment purchases included in accounts payable
        		                       
          conversion of convertible preferred stock into common stock at close of initial public offering
        		                       
          capital contribution related to extinguishment of convertible preferred stock liability
        		                       
          proceeds from issuance of common stock upon public offering, net of issuance costs
        		                       
          proceeds from issuance of convertible preferred stock and convertible preferred stock liability, net of issuance cost
        		                       
          payment of deferred offering costs
        		                       
          deferred offering costs included in accounts payable and accrued expenses
        		                       
          supplemental disclosures of non-cash investing and financing activities:
        		                       
          noncash investing and financing activities:
        		                       
          proceeds from issuance of convertible note
        		                       
          proceeds from initial public offering net of issuance costs
        		                       
          cash and cash equivalents, and restricted cash at beginning of year
        		                       
          cash and cash equivalents, and restricted cash at end of year
        		                       
          conversion of convertible note into preferred stock
        		                       
          capital contribution related to extinguishment of preferred stock liability
        		                       
          supplemental disclosures of noncash investing and financing information:
        		                       
          net income
        		                       
          adjustments to reconcile net income to net cash from operating activities: