Edgewise Therapeutics, Inc(NASDAQ:EWTX) 
Edgewise Therapeutics, Inc., a biopharmaceutical company, develops small molecule therapies for musculoskeletal diseases. It offers a precision medicine muscle platform that generates programs to address various muscle disorders, such as Duchenne, Becker, and limb girdle muscular dystrophies. The co...
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating expenses | |||||||||||||||||||||
research and development | 42,651,000 | 43,594,000 | 37,480,000 | 33,558,000 | 36,757,000 | 36,370,000 | 32,222,000 | 30,680,000 | 27,694,000 | 27,684,000 | 23,786,000 | 19,559,000 | 19,876,000 | 16,612,000 | 13,894,000 | 12,402,000 | 11,124,000 | 9,088,000 | 9,880,000 | 7,861,000 | 5,360,000 |
general and administrative | 11,464,000 | 12,385,000 | 9,378,000 | 9,052,000 | 9,202,000 | 9,170,000 | 8,210,000 | 7,427,000 | 7,059,000 | 6,178,000 | 5,666,000 | 5,780,000 | 5,828,000 | 5,467,000 | 4,368,000 | 4,089,000 | 3,702,000 | 3,734,000 | 3,196,000 | 2,599,000 | 1,497,000 |
total operating expenses | 54,115,000 | 55,979,000 | 46,858,000 | 42,610,000 | 45,959,000 | 45,540,000 | 40,432,000 | 38,107,000 | 34,753,000 | 33,862,000 | 29,452,000 | 25,339,000 | 25,704,000 | 22,079,000 | 18,262,000 | 16,491,000 | 14,826,000 | 12,822,000 | 13,076,000 | 10,460,000 | 6,857,000 |
income from operations | -54,115,000 | -55,979,000 | -46,858,000 | -42,610,000 | -45,959,000 | -45,540,000 | -40,432,000 | -38,107,000 | -34,753,000 | -33,862,000 | -29,452,000 | -25,339,000 | -25,704,000 | -22,079,000 | -18,262,000 | -16,491,000 | -14,826,000 | -12,822,000 | -13,076,000 | -10,460,000 | -6,857,000 |
yoy | 17.75% | 22.92% | 15.89% | 11.82% | 32.24% | 34.49% | 37.28% | 50.39% | 35.20% | 53.37% | 61.27% | 53.65% | 73.37% | 72.20% | 39.66% | 57.66% | 116.22% | ||||
qoq | -3.33% | 19.47% | 9.97% | -7.29% | 0.92% | 12.63% | 6.10% | 9.65% | 2.63% | 14.97% | 16.23% | -1.42% | 16.42% | 20.90% | 10.74% | 11.23% | 15.63% | -1.94% | 25.01% | 52.54% | |
other income | |||||||||||||||||||||
interest income | 5,102,000 | 5,763,000 | 6,192,000 | 6,495,000 | 5,161,000 | 5,878,000 | 6,303,000 | 6,610,000 | 6,228,000 | 3,719,000 | 3,739,000 | 3,870,000 | 2,866,000 | 2,664,000 | 764,000 | 424,000 | 166,000 | 126,000 | 127,000 | 107,000 | 42,000 |
total other income | 5,102,000 | 5,763,000 | 6,192,000 | 6,495,000 | 5,161,000 | 5,878,000 | 6,303,000 | 6,610,000 | 6,228,000 | 3,719,000 | 3,739,000 | 3,870,000 | 2,866,000 | 2,664,000 | 764,000 | 424,000 | 166,000 | 126,000 | 127,000 | 107,000 | 42,000 |
net income | -49,013,000 | -50,216,000 | -40,666,000 | -36,115,000 | -40,798,000 | -39,662,000 | -34,129,000 | -31,497,000 | -28,525,000 | -30,143,000 | -25,713,000 | -21,469,000 | -22,838,000 | -19,415,000 | -17,498,000 | -16,067,000 | -14,660,000 | -12,696,000 | -12,949,000 | -10,353,000 | -6,815,000 |
yoy | 20.14% | 26.61% | 19.15% | 14.66% | 43.03% | 31.58% | 32.73% | 46.71% | 24.90% | 55.26% | 46.95% | 33.62% | 55.78% | 52.92% | 35.13% | 55.19% | 115.11% | ||||
qoq | -2.40% | 23.48% | 12.60% | -11.48% | 2.86% | 16.21% | 8.36% | 10.42% | -5.37% | 17.23% | 19.77% | -5.99% | 17.63% | 10.96% | 8.91% | 9.60% | 15.47% | -1.95% | 25.07% | 51.91% | |
other comprehensive income: | |||||||||||||||||||||
unrealized loss on available-for-sale securities | -929,000 | -197,000 | -19,000 | -404,000 | -1,418,000 | 21,000 | -54,000 | ||||||||||||||
total comprehensive loss | -49,942,000 | -50,240,000 | -40,169,000 | -36,312,000 | -40,817,000 | -40,293,000 | -32,024,000 | -31,690,000 | -29,485,000 | -29,620,000 | -25,590,000 | -21,765,000 | -21,734,000 | -18,591,000 | -17,341,000 | -16,471,000 | -16,078,000 | -13,186,000 | -12,940,000 | -10,332,000 | -6,869,000 |
net income per share | -0.46 | -0.48 | -0.39 | -0.34 | -0.43 | -0.42 | -0.36 | -0.34 | -0.33 | -0.47 | -0.41 | -0.34 | -0.36 | -0.3 | -0.34 | -0.32 | -0.3 | -0.24 | -0.26 | -0.21 | -4.37 |
weighted-average shares outstanding, basic and diluted | 107,116,709 | 102,930,744 | 105,492,779 | 104,940,493 | 95,130,053 | 92,414,626 | 93,813,346 | 93,515,356 | 87,567,307 | 63,723,600 | 63,459,560 | 63,380,430 | 63,265,800 | 53,593,753 | 51,844,904 | 49,622,752 | 49,544,589 | 37,526,332 | 49,264,938 | 49,258,449 | 1,559,868 |
unrealized gain on available-for-sale securities | -24,000 | 497,000 | -631,000 | 2,105,000 | -193,000 | -960,000 | 523,000 | 123,000 | -296,000 | 1,104,000 | -416,250 | 157,000 | -6,000 | 9,000 | |||||||
other comprehensive loss: |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||
current assets | |||||||||||||||||||||
cash and cash equivalents | 33,211,000 | 61,148,000 | 46,003,000 | 43,404,000 | 49,921,000 | 41,666,000 | 44,806,000 | 43,485,000 | 30,264,000 | 86,097,000 | 32,957,000 | 31,807,000 | 48,230,000 | 21,993,000 | 109,747,000 | 18,341,000 | 34,453,000 | 15,566,000 | 10,571,000 | 50,404,000 | 221,036,000 |
marketable securities, available for sale | 466,351,000 | 468,961,000 | 517,337,000 | 550,588,000 | 386,466,000 | 428,504,000 | 447,730,000 | 468,266,000 | 502,495,000 | 232,296,000 | 256,740,000 | 278,121,000 | 279,722,000 | 329,954,000 | 255,075,000 | 230,054,000 | 231,380,000 | 265,223,000 | 279,913,000 | 248,747,000 | 88,835,000 |
prepaid expenses and other assets | 10,230,000 | 13,276,000 | 10,560,000 | 9,263,000 | 6,791,000 | 5,313,000 | 6,900,000 | 7,690,000 | 8,668,000 | 8,604,000 | 8,224,000 | 7,069,000 | 5,411,000 | 5,052,000 | 5,317,000 | 4,948,000 | 2,784,000 | 2,984,000 | 2,758,000 | 3,818,000 | 674,000 |
total current assets | 509,792,000 | 543,385,000 | 573,900,000 | 603,255,000 | 443,178,000 | 475,483,000 | 499,436,000 | 519,441,000 | 541,427,000 | 326,997,000 | 297,921,000 | 316,997,000 | 333,363,000 | 356,999,000 | 370,139,000 | 253,343,000 | 268,617,000 | 283,773,000 | 293,242,000 | 302,969,000 | 310,545,000 |
property and equipment | 7,396,000 | 7,831,000 | 8,129,000 | 8,595,000 | 8,990,000 | 9,503,000 | 9,966,000 | 9,897,000 | 10,184,000 | 10,443,000 | 10,679,000 | 10,856,000 | 10,396,000 | 8,533,000 | 5,428,000 | 2,920,000 | 2,224,000 | 1,614,000 | 1,535,000 | 1,084,000 | 1,008,000 |
operating lease right-of-use asset | 1,334,000 | 1,387,000 | 1,437,000 | 1,484,000 | 1,528,000 | 1,569,000 | 1,618,000 | 2,047,000 | 2,195,000 | 2,247,000 | 2,297,000 | 2,353,000 | 2,390,000 | 1,318,000 | 1,322,000 | 1,571,000 | 2,130,000 | ||||
total assets | 518,522,000 | 552,603,000 | 583,466,000 | 613,334,000 | 454,391,000 | 486,817,000 | 511,282,000 | 531,647,000 | 553,806,000 | 340,035,000 | 311,364,000 | 330,625,000 | 346,400,000 | 367,101,000 | 377,153,000 | 257,399,000 | 272,745,000 | 285,233,000 | 294,448,000 | 303,493,000 | 311,245,000 |
liabilities and stockholders' equity | |||||||||||||||||||||
current liabilities | |||||||||||||||||||||
accounts payable | 7,293,000 | 6,006,000 | 6,157,000 | 8,320,000 | 8,789,000 | 5,579,000 | 5,649,000 | 6,801,000 | 4,723,000 | 4,025,000 | 5,318,000 | 3,781,000 | 3,875,000 | 6,105,000 | 5,757,000 | 2,828,000 | 5,340,000 | 3,843,000 | 2,292,000 | 2,816,000 | 1,621,000 |
accrued compensation | 5,678,000 | 12,430,000 | 7,998,000 | 5,636,000 | 3,974,000 | 10,056,000 | 6,185,000 | 4,244,000 | 2,924,000 | 5,695,000 | 4,408,000 | 3,125,000 | 2,074,000 | 4,032,000 | 2,704,000 | 2,024,000 | 1,346,000 | 2,797,000 | 2,030,000 | 1,373,000 | 672,000 |
accrued other expenses | 8,555,000 | 7,920,000 | 6,483,000 | 5,936,000 | 7,351,000 | 7,229,000 | 6,131,000 | 5,143,000 | 5,969,000 | 6,071,000 | |||||||||||
operating lease liability, current portion | 1,017,000 | 1,014,000 | 1,008,000 | 1,004,000 | 1,001,000 | 996,000 | 992,000 | 988,000 | 984,000 | 980,000 | 931,000 | 872,000 | 797,000 | 608,000 | 209,000 | 104,000 | |||||
total current liabilities | 22,543,000 | 27,370,000 | 21,646,000 | 20,896,000 | 21,115,000 | 23,860,000 | 18,957,000 | 17,176,000 | 14,600,000 | 16,771,000 | 16,338,000 | 14,400,000 | 12,715,000 | 16,585,000 | 13,303,000 | 9,216,000 | 10,004,000 | 10,521,000 | 8,754,000 | 6,739,000 | 4,851,000 |
operating lease liability, net of current portion | 2,776,000 | 2,976,000 | 3,173,000 | 3,367,000 | 3,557,000 | 3,741,000 | 3,448,000 | 3,997,000 | 4,265,000 | 4,434,000 | 4,599,000 | 4,770,000 | 4,845,000 | 3,800,000 | 2,387,000 | 1,636,000 | |||||
total liabilities | 25,319,000 | 30,346,000 | 24,819,000 | 24,263,000 | 24,672,000 | 27,601,000 | 22,405,000 | 21,173,000 | 18,865,000 | 21,205,000 | 20,937,000 | 19,170,000 | 17,560,000 | 20,385,000 | 15,749,000 | 11,044,000 | 12,389,000 | 10,850,000 | 9,049,000 | ||
commitments and contingencies | |||||||||||||||||||||
stockholders' equity: | |||||||||||||||||||||
preferred stock, .0001 par value per share... | |||||||||||||||||||||
common stock, .0001 par value per share... | 10,000 | 10,000 | 10,000 | 10,000 | 9,000 | 9,000 | 9,000 | 9,000 | 9,000 | 7,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 |
additional paid-in capital | 1,088,829,000 | 1,067,941,000 | 1,054,091,000 | 1,044,346,000 | 848,683,000 | 837,363,000 | 826,731,000 | 816,304,000 | 809,081,000 | 563,487,000 | 505,465,000 | 500,903,000 | 496,523,000 | 492,665,000 | 488,762,000 | 356,373,000 | 353,903,000 | 351,852,000 | 349,682,000 | 348,097,000 | 347,405,000 |
accumulated other comprehensive income | -252,000 | 677,000 | 701,000 | 204,000 | 401,000 | 420,000 | 1,051,000 | -1,054,000 | -861,000 | 99,000 | |||||||||||
accumulated deficit | -595,384,000 | -546,371,000 | -496,155,000 | -455,489,000 | -419,374,000 | -378,576,000 | -338,914,000 | -304,785,000 | -273,288,000 | -244,763,000 | -214,620,000 | -188,907,000 | -167,438,000 | -144,600,000 | -125,185,000 | -107,687,000 | -91,620,000 | -76,960,000 | -64,264,000 | -51,315,000 | -40,962,000 |
total stockholders' equity | 493,203,000 | 522,257,000 | 558,647,000 | 589,071,000 | 429,719,000 | 459,216,000 | 488,877,000 | 510,474,000 | 534,941,000 | 318,830,000 | 290,427,000 | 311,455,000 | 328,840,000 | 346,716,000 | 361,404,000 | 246,355,000 | 260,356,000 | 274,383,000 | 285,399,000 | 296,754,000 | |
total liabilities and stockholders' equity | 518,522,000 | 552,603,000 | 583,466,000 | 613,334,000 | 454,391,000 | 486,817,000 | 511,282,000 | 531,647,000 | 553,806,000 | 340,035,000 | 311,364,000 | 330,625,000 | 346,400,000 | 367,101,000 | 377,153,000 | 257,399,000 | 272,745,000 | ||||
other non-current assets | 695,000 | 262,000 | 262,000 | 262,000 | 348,000 | 467,000 | 419,000 | 251,000 | 251,000 | 264,000 | 447,000 | 559,000 | 548,000 | 295,000 | 201,000 | ||||||
| 2,022,000 | 2,022,000 | 2,022,000 | 2,021,000 | 2,021,000 | 2,021,000 | |||||||||||||||
accrued other incomes | 5,681,000 | 6,622,000 | 5,969,000 | 5,840,000 | 4,626,000 | 4,260,000 | 3,318,000 | 3,881,000 | 4,432,000 | 2,550,000 | 2,558,000 | ||||||||||
accumulated other comprehensive loss | -424,000 | -547,000 | -251,000 | -1,355,000 | -2,179,000 | -2,336,000 | -1,932,000 | -514,000 | -24,000 | -33,000 | -54,000 | ||||||||||
other long term liabilities | 192,000 | 187,000 | 329,000 | 295,000 | |||||||||||||||||
short-term debt | 7,000 | ||||||||||||||||||||
long-term debt | 59,000 | ||||||||||||||||||||
operating expenses | |||||||||||||||||||||
research and development | 13,894,000 | 12,402,000 | 11,124,000 | 9,880,000 | 7,861,000 | 5,360,000 | |||||||||||||||
general and administrative | 4,368,000 | 4,089,000 | 3,702,000 | 3,196,000 | 2,599,000 | 1,497,000 | |||||||||||||||
total operating expenses | 18,262,000 | 16,491,000 | 14,826,000 | 13,076,000 | 10,460,000 | 6,857,000 | |||||||||||||||
income from operations | -18,262,000 | -16,491,000 | -14,826,000 | -13,076,000 | -10,460,000 | -6,857,000 | |||||||||||||||
other income | |||||||||||||||||||||
interest income | 764,000 | 424,000 | 166,000 | 127,000 | 107,000 | 42,000 | |||||||||||||||
total other income | 764,000 | 424,000 | 166,000 | 127,000 | 107,000 | 42,000 | |||||||||||||||
net income | -17,498,000 | -16,067,000 | -14,660,000 | -12,949,000 | -10,353,000 | -6,815,000 | |||||||||||||||
other comprehensive income: | |||||||||||||||||||||
unrealized gain on available-for-sale securities | 157,000 | 9,000 | |||||||||||||||||||
total comprehensive loss | -17,341,000 | -16,471,000 | -16,078,000 | -12,940,000 | -10,332,000 | -6,869,000 | |||||||||||||||
net income per share | -340 | -320 | -300 | -260 | -210 | -4,370 | |||||||||||||||
weighted-average shares outstanding, basic and diluted | 51,844,904,000 | 49,622,752,000 | 49,544,589,000 | 49,264,938,000 | 49,258,449,000 | 1,559,868,000 | |||||||||||||||
less: accumulated depreciation | -882,000 | -785,000 | -702,000 | -624,000 | -560,000 | -509,000 | |||||||||||||||
total property and equipment | 2,038,000 | 1,439,000 | 912,000 | 911,000 | 524,000 | 499,000 | |||||||||||||||
other comprehensive loss: | |||||||||||||||||||||
unrealized loss on available-for-sale securities | -404,000 | -1,418,000 | 21,000 | -54,000 | |||||||||||||||||
operating lease long-term liability | 2,198,000 | ||||||||||||||||||||
liabilities, convertible preferred stock, and stockholders' equity | |||||||||||||||||||||
convertible preferred stock | |||||||||||||||||||||
series a preferred stock, .0001 par value... | |||||||||||||||||||||
series b-1 preferred stock, .0001 par value... | |||||||||||||||||||||
series b-2 preferred stock, .0001 par value... | |||||||||||||||||||||
series c preferred stock, .0001 par value... | |||||||||||||||||||||
total convertible preferred stock | |||||||||||||||||||||
stockholders' equity | |||||||||||||||||||||
total liabilities, convertible preferred stock and stockholders' equity | 285,233,000 | 294,448,000 | 303,493,000 | 311,245,000 | |||||||||||||||||
total stockholders' (deficit) equity | 306,394,000 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||||
net loss | -49,013,000 | -50,216,000 | -40,666,000 | -36,115,000 | -40,798,000 | -39,662,000 | -34,129,000 | -31,497,000 | -28,525,000 | -30,143,000 | -25,713,000 | -21,469,000 | -22,838,000 | -19,415,000 | -17,498,000 | -16,067,000 | -14,660,000 | -12,696,000 | -12,949,000 | -10,353,000 | -6,815,000 |
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||
depreciation | 537,000 | 525,000 | 523,000 | 523,000 | 513,000 | 577,000 | 539,000 | 480,000 | 473,000 | 483,000 | 449,000 | 424,000 | 195,000 | 88,000 | 100,000 | 97,000 | 83,000 | 78,000 | 64,000 | 51,000 | 79,000 |
stock-based compensation | 8,715,000 | 9,875,000 | 8,085,000 | 7,733,000 | 9,059,000 | 7,737,000 | 6,880,000 | 5,224,000 | 4,871,000 | 5,153,000 | 4,559,000 | 4,011,000 | 3,837,000 | 3,736,000 | 3,173,000 | 2,037,000 | 1,978,000 | 1,873,000 | 1,548,000 | 687,000 | 296,000 |
accretion of discount on marketable securities | -1,013,000 | -1,483,000 | -2,056,000 | -2,203,000 | -1,923,000 | ||||||||||||||||
amortization of right-of-use asset | 53,000 | 50,000 | 47,000 | 44,000 | 41,000 | 52,000 | 63,000 | 54,000 | 52,000 | 50,000 | 48,000 | 37,000 | 46,000 | 4,000 | 65,000 | 57,000 | 44,000 | ||||
changes in assets and liabilities: | |||||||||||||||||||||
prepaid expenses and other assets | 3,045,000 | -2,715,000 | -1,298,000 | -2,472,000 | -1,478,000 | 1,587,000 | 791,000 | 977,000 | -63,000 | -379,000 | -1,157,000 | -1,658,000 | -359,000 | 279,000 | -190,000 | -1,939,000 | 398,000 | 1,060,000 | -2,945,000 | -66,000 | |
accounts payable | 1,446,000 | -303,000 | -2,132,000 | -151,000 | 2,858,000 | 92,000 | -1,028,000 | 1,893,000 | 780,000 | -1,382,000 | 1,762,000 | -312,000 | -160,000 | 576,000 | 938,000 | -2,655,000 | 1,188,000 | 1,551,000 | -524,000 | 1,690,000 | -63,000 |
accrued compensation | -6,752,000 | 4,432,000 | 2,362,000 | 1,661,000 | -6,081,000 | 3,870,000 | 1,942,000 | 1,319,000 | -2,770,000 | 1,287,000 | 1,283,000 | 1,051,000 | -1,958,000 | 1,328,000 | 680,000 | 678,000 | -1,451,000 | 767,000 | 657,000 | 701,000 | -503,000 |
accrued other expenses and other liabilities | 635,000 | 1,436,000 | 548,000 | -1,415,000 | 122,000 | 1,098,000 | 987,000 | -825,000 | -102,000 | 390,000 | -811,000 | 577,000 | 370,000 | ||||||||
lease liability | -196,000 | -193,000 | -189,000 | -187,000 | -179,000 | 294,000 | -179,000 | -171,000 | -164,000 | -117,000 | -103,000 | 0 | 116,000 | 1,812,000 | 1,041,000 | 43,000 | 24,000 | ||||
net cash from operating activities | -42,543,000 | -38,592,000 | -34,776,000 | -32,582,000 | -37,866,000 | -26,957,000 | -27,374,000 | -26,099,000 | -28,598,000 | -26,830,000 | -22,058,000 | -20,234,000 | -22,826,000 | -11,820,000 | -11,998,000 | -16,245,000 | -12,572,000 | -9,419,000 | -8,262,000 | -9,769,000 | -6,057,000 |
capital expenditures | -260,000 | -73,000 | -89,000 | -50,000 | -44,000 | -274,000 | -520,000 | -221,000 | -297,000 | -161,000 | -457,000 | -759,000 | -4,368,000 | -3,293,000 | -1,330,000 | -554,000 | -369,000 | -79,000 | -451,000 | -76,000 | -62,000 |
free cash flows | -42,803,000 | -38,665,000 | -34,865,000 | -32,632,000 | -37,910,000 | -27,231,000 | -27,894,000 | -26,320,000 | -28,895,000 | -26,991,000 | -22,515,000 | -20,993,000 | -27,194,000 | -15,113,000 | -13,328,000 | -16,799,000 | -12,941,000 | -9,498,000 | -8,713,000 | -9,845,000 | -6,119,000 |
cash flows from investing activities | |||||||||||||||||||||
purchases of marketable securities | -110,152,000 | -74,285,000 | -66,999,000 | -263,762,000 | -122,180,000 | -63,178,000 | -45,319,000 | -40,955,000 | -327,603,000 | -39,786,000 | -84,667,000 | -114,455,000 | -16,958,000 | -146,691,000 | -67,990,000 | -63,751,000 | -13,956,000 | -15,044,000 | -41,357,000 | -167,091,000 | -64,711,000 |
sales of marketable securities | 3,966,000 | 15,932,000 | 12,802,000 | 23,650,000 | 15,000,000 | 3,074,000 | 10,961,000 | 874,000 | 885,000 | 929,000 | 14,043,000 | 4,539,000 | 607,000 | 4,529,000 | 12,719,000 | 4,494,000 | 8,832,000 | ||||
maturities of marketable securities | 108,879,000 | 108,188,000 | 90,002,000 | 77,996,000 | 151,122,000 | 81,300,000 | 60,240,000 | 77,670,000 | 58,707,000 | 66,001,000 | 94,500,000 | 114,117,000 | 69,761,000 | 69,859,000 | 30,280,000 | 59,765,000 | 36,879,000 | 25,800,000 | 10,200,000 | ||
purchases of property and equipment | -260,000 | -73,000 | -89,000 | -50,000 | -44,000 | -274,000 | -520,000 | -221,000 | -297,000 | -161,000 | -457,000 | -759,000 | -4,368,000 | -3,293,000 | -1,330,000 | -554,000 | -369,000 | -79,000 | -451,000 | -76,000 | -62,000 |
net cash from investing activities | 2,433,000 | 49,762,000 | 35,716,000 | -162,166,000 | 43,898,000 | 20,922,000 | 25,362,000 | 37,368,000 | -268,308,000 | 26,983,000 | 23,419,000 | 3,442,000 | 49,042,000 | -75,596,000 | -26,321,000 | -46,000 | 31,386,000 | 14,121,000 | -31,608,000 | -159,967,000 | -64,773,000 |
cash flows from financing activities | |||||||||||||||||||||
exercise of stock options | 12,173,000 | 3,650,000 | 1,659,000 | 233,000 | 2,261,000 | 2,430,000 | 3,547,000 | 1,577,000 | 1,926,000 | 62,000 | 3,000 | 31,000 | 21,000 | 25,000 | 52,000 | 255,000 | 73,000 | 45,000 | 37,000 | 7,000 | 23,000 |
payment of deferred offering costs | -38,000 | 0 | -214,000 | ||||||||||||||||||
net cash from financing activities | 12,173,000 | 3,975,000 | 1,659,000 | 188,231,000 | 2,223,000 | 2,895,000 | 3,333,000 | 1,952,000 | 241,073,000 | 52,987,000 | -211,000 | 369,000 | 21,000 | -338,000 | 129,725,000 | 179,000 | 73,000 | 293,000 | 37,000 | -896,000 | 186,950,000 |
net change in cash and cash equivalents | -27,937,000 | 15,145,000 | 2,599,000 | -6,517,000 | 8,255,000 | -3,140,000 | 1,321,000 | 13,221,000 | -55,833,000 | 53,140,000 | 1,150,000 | -16,423,000 | 26,237,000 | -87,754,000 | 91,406,000 | -16,112,000 | 18,887,000 | 4,995,000 | -39,833,000 | -170,632,000 | 116,120,000 |
cash and cash equivalents at beginning of period | 61,148,000 | 0 | 0 | 0 | 41,666,000 | 0 | 0 | 0 | 86,097,000 | 0 | 0 | 0 | 21,993,000 | 0 | 0 | 0 | 15,566,000 | 0 | 0 | 0 | 104,916,000 |
cash and cash equivalents at end of period | 33,211,000 | 15,145,000 | 2,599,000 | -6,517,000 | 49,921,000 | -3,140,000 | 1,321,000 | 13,221,000 | 30,264,000 | 53,140,000 | 1,150,000 | -16,423,000 | 48,230,000 | -87,754,000 | 91,406,000 | -16,112,000 | 34,453,000 | 4,995,000 | -39,833,000 | -170,632,000 | 221,036,000 |
supplemental disclosures of non-cash investing and financing activities: | |||||||||||||||||||||
property and equipment purchases included in accounts payable and accrued other expenses | 41,000 | -160,000 | 88,000 | -28,000 | 144,000 | 87,000 | -184,000 | 124,000 | 200,000 | -70,000 | |||||||||||
deferred offering costs included in accounts payable and accrued other expenses | 395,000 | ||||||||||||||||||||
proceeds from issuance of common stock, net of offering costs | 0 | 0 | |||||||||||||||||||
proceeds from employee stock purchase plan | 325,000 | 0 | 465,000 | 0 | 258,000 | 0 | 142,000 | 0 | |||||||||||||
right-of-use asset obtained in exchange for new operating lease liability, net of tenant improvement receivable | 0 | -8,000 | 0 | 1,118,000 | -184,000 | -502,000 | 2,174,000 | ||||||||||||||
reduction to right-of-use due to tenant improvement receivable | |||||||||||||||||||||
property and equipment purchases included in accounts payable | -31,000 | 142,000 | 309,000 | ||||||||||||||||||
proceeds from issuance of common stock, net of underwriting discounts and commissions and offering costs | 0 | 0 | 0 | 239,147,000 | |||||||||||||||||
amortization of (discount) on marketable securities | -3,240,000 | ||||||||||||||||||||
amortization of premium (discount) on marketable securities | -3,150,000 | -2,172,000 | -2,375,000 | -2,895,000 | -2,075,000 | -1,755,000 | 127,000 | 415,000 | 670,000 | ||||||||||||
proceeds from issuance of common stock, net of underwriting discounts and commissions | |||||||||||||||||||||
payment of offering costs and deferred offering costs | |||||||||||||||||||||
offering costs and deferred offering costs included in accounts payable and accrued other expenses | |||||||||||||||||||||
deferred offering costs included in accrued expenses | 141,000 | ||||||||||||||||||||
proceeds from initial public offering of common stock, net of underwriting discounts and commissions and offering costs | 0 | 0 | -903,000 | 187,051,000 | |||||||||||||||||
payment of preferred stock issuance costs | 0 | 0 | 0 | -124,000 | |||||||||||||||||
right-of-use asset obtained in exchange for new operating lease liability, net of reimbursed tenant improvements | |||||||||||||||||||||
conversion of convertible preferred stock upon closing of initial public offering | 0 | 0 | 0 | 160,214,000 | |||||||||||||||||
accrued other expenses | -434,000 | 1,089,000 | -846,000 | -551,000 | 1,882,000 | 400,000 | 1,015,000 | ||||||||||||||
debt proceeds | |||||||||||||||||||||
property and equipment purchases included in debt | |||||||||||||||||||||
receivable for option exercises | 2,000 | ||||||||||||||||||||
unpaid initial public offering costs included in accounts payable | 495,000 | ||||||||||||||||||||
unpaid initial public offering costs included in accrued expenses | 408,000 | ||||||||||||||||||||
prepaid expenses, other assets and other long-term liabilities | |||||||||||||||||||||
proceeds from issuance of series b-2 convertible preferred stock | |||||||||||||||||||||
proceeds from issuance of series c convertible preferred stock | |||||||||||||||||||||
supplemental disclosures of non-cash financing activities: | |||||||||||||||||||||
preferred stock issuance costs included in accrued other expenses |