EyePoint Pharmaceuticals, Inc
(NASDAQ:EYPT)

EyePoint Pharmaceuticals, Inc., a pharmaceutical company, develops and commercializes ophthalmic products for the treatment of eye diseases in the United States, China, and the United Kingdom. The company provides ILUVIEN, an injectable sustained-release micro-insert for treatment of diabetic macula...

Website: http://eyepointpharma.com

Founded: 1987

Full Time Employees: 84

Sector: Healthcare

Industry: Biotechnology

Pharmaceuticals Ophthalmology

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Unit: USD	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	2018-09-30	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	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-04-02	2007-02-28	2005-12-22	2005-06-30

revenues:
product sales	299,000	582,000		715,000	774,000	664,000	1,068,000	658,000	749,000	816,000	5,273,000	7,394,000	9,857,000	9,720,000	11,318,000	9,010,000	11,185,000	8,587,000	8,738,000	6,802,000	6,680,000	5,758,000	3,706,000	4,687,000	7,883,000	1,009,000	6,705,000	1,227,000
license and collaboration agreements	203,000	150,000	5,333,000	11,049,000	10,590,000	9,561,000	7,782,000	10,563,000	13,029,000	14,137,000	3,597,000	34,000	202,000	52,000	49,000	59,000
royalty income	118,000	234,000		12,689,000	224,000	299,000	627,000	463,000	250,000	249,000	235,000	255,000	474,000	240,000	198,000	225,000	197,000	313,000	181,000	180,000	99,000	402,000	381,000	782,000	514,000	446,000	500,000	720,000	430,000	497,000	404,000	472,000	245,000	240,000	218,000	269,000	243,000	278,000	274,000	384,000	286,000	353,000	218,000	357,000	226,000	286,000	316,000	292,000	424,000	315,000	274,000	390,000	384,000	442,000	380,000	426,000	198,000	321,000	304,000	326,000	402,000	394,000	25,000	27,000	37,000	37,000	27,000	55,000	41,000	56,000	39,000	39,000	14,000
total revenues	620,000	966,000	5,333,000	24,453,000	11,588,000	10,524,000	9,477,000	11,684,000	14,028,000	15,202,000	9,105,000	7,683,000	10,533,000	10,012,000	11,565,000	9,294,000	11,544,000	9,059,000	9,013,000	7,323,000	7,131,000	15,695,000	4,122,000	7,489,000	8,633,000	2,509,000	7,210,000	2,012,000	486,000	715,000	928,000	933,000	385,000	701,000	590,000	5,971,000	277,000	304,000	324,000	526,000	466,000	409,000	328,000	521,000	25,307,000	292,000	1,992,000	592,000	597,000	492,000	513,000	585,000	553,000	699,000	538,000	630,000	1,659,000	3,715,000	360,000	414,000	476,000	15,722,000	515,000	3,433,000	3,383,000	3,223,000	3,163,000	2,970,000	2,806,000	2,703,000	542,000	128,000	103,000				6,750,000
yoy	-94.65%	-90.82%	-43.73%	109.29%	-17.39%	-30.77%	4.09%	52.08%	33.18%	51.84%	-21.27%	-17.33%	-8.76%	10.52%	28.31%	26.92%	61.88%	-42.28%	118.66%	-2.22%	-17.40%	525.55%	-42.83%	272.22%	1676.34%	250.91%	676.94%	115.65%	26.23%	2.00%	57.29%	-84.37%	38.99%	130.59%	82.10%	1035.17%	-40.56%	-25.67%	-1.22%	0.96%	-98.16%	40.07%	-83.53%	-11.99%	4139.03%	-40.65%	288.30%	1.20%	7.96%	-29.61%	-4.65%	-7.14%	-66.67%	-81.18%	49.44%	52.17%	248.53%	-76.37%	-30.10%	-87.94%	-85.93%	387.81%	-83.72%	15.59%	20.56%	19.24%	483.58%	2220.31%	2624.27%				-98.47%
qoq	-35.82%	-81.89%	-78.19%	111.02%	10.11%	11.05%	-18.89%	-16.71%	-7.72%	66.96%	18.51%	-27.06%	5.20%	-13.43%	24.44%	-19.49%	27.43%	0.51%	23.08%	2.69%	-54.57%	280.76%	-44.96%	-13.25%	244.08%	-65.20%	258.35%	313.99%	-32.03%	-22.95%	-0.54%	142.34%	-45.08%	18.81%	-90.12%	2055.60%	-8.88%	-6.17%	-38.40%	12.88%	13.94%	24.70%	-37.04%	-97.94%	8566.78%	-85.34%	236.49%	-0.84%	21.34%	-4.09%	-12.31%	5.79%	-20.89%	29.93%	-14.60%	-62.03%	-55.34%	931.94%	-13.04%	-13.03%	-96.97%	2952.82%	-85.00%	1.48%	4.96%	1.90%	6.50%	5.84%	3.81%	398.71%	323.44%	24.27%
operating expenses:
cost of sales	375,000	721,000	165,000	805,000	816,000	736,000	1,401,000	759,000
research and development	59,214,000	47,754,000	55,498,000	58,574,000	43,372,000	29,542,000	29,822,000	30,139,000	17,951,000	17,363,000	15,730,000	13,618,000	15,543,000	11,162,000	12,992,000	9,945,000	8,918,000	8,498,000	5,605,000	5,479,000	5,205,000	4,090,000	3,276,000	4,853,000	4,131,000	3,484,000	3,955,000	3,797,000	6,233,000	4,765,000	3,325,000	4,269,000	3,819,000	4,213,000	3,324,000	3,165,000	4,178,000	4,104,000	3,074,000	3,721,000	3,482,000	3,198,000	3,339,000	2,767,000	2,784,000	2,306,000	2,269,000	2,494,000	2,504,000	2,320,000	1,587,000	1,575,000	1,523,000	1,410,000	1,508,000	1,992,000	2,129,000	1,851,000	1,737,000	1,534,000	1,742,000	1,786,000	1,680,000	1,728,000	1,800,000	1,830,000	1,892,000	2,057,000	2,228,000	2,404,000	3,605,000	4,946,000					1,507,000
sales and marketing	-6,000	26,000	35,000	35,000	51,000	24,000	50,000	6,000	185,000	479,000	5,288,000	5,737,000	5,915,000	6,016,000	6,883,000	6,693,000	7,811,000	7,374,000	6,659,000	5,659,000	5,810,000	5,269,000	6,089,000	8,125,000	7,399,000	7,778,000	7,284,000	7,311,000	3,646,000
general and administrative	11,382,000	14,490,000	11,862,000	13,876,000	12,588,000	12,970,000	12,750,000	14,101,000	11,248,000	10,556,000	9,056,000	9,242,000	8,496,000	9,212,000	8,557,000	8,548,000	9,217,000	6,060,000	5,184,000	5,115,000	5,777,000	5,796,000	4,792,000	4,360,000	4,149,000	4,365,000	4,815,000	4,610,000	4,161,000	4,220,000	2,281,000	2,472,000	2,572,000	2,624,000	2,426,000	2,900,000	3,285,000	2,656,000	2,346,000	2,043,000	1,968,000	2,411,000	2,041,000	1,870,000	1,734,000	2,000,000	1,946,000	1,711,000	1,811,000	2,153,000	1,738,000	1,658,000	1,620,000	1,599,000	1,757,000	1,451,000	2,061,000	2,172,000	1,762,000	2,001,000	2,169,000	1,762,000	1,698,000	1,818,000	1,690,000	1,448,000	2,052,000	2,334,000	2,957,000								3,741,000
total operating expenses	70,965,000	62,991,000	67,560,000	73,290,000	56,827,000	43,272,000	44,023,000	45,005,000	30,382,000	29,600,000	31,866,000	29,237,000	54,268,000	28,410,000	30,781,000	27,578,000	29,594,000	24,372,000	19,992,000	18,258,000	19,868,000	17,652,000	15,274,000	18,933,000	17,618,000	16,569,000	17,375,000	16,663,000	14,040,000	10,497,000	5,606,000	6,741,000	6,391,000	6,837,000	5,750,000	6,065,000	7,463,000	6,760,000	5,420,000	5,764,000	5,450,000	5,609,000	5,380,000	4,637,000	4,518,000	4,304,000	4,211,000	4,133,000	4,315,000	4,473,000	3,325,000	3,233,000	3,143,000	3,009,000	3,265,000	18,273,000	4,190,000	4,023,000	3,499,000	3,535,000	3,911,000	3,548,000	3,378,000	3,546,000	3,490,000	3,278,000	3,944,000	4,391,000	5,185,000	67,852,000	7,151,000	8,164,000	5,316,000				5,285,000
income from operations	-70,345,000	-62,025,000	-62,227,000	-48,837,000	-45,239,000	-32,748,000	-34,546,000	-33,321,000	-16,354,000	-14,398,000	-22,761,000	-21,554,000	-43,735,000	-18,398,000	-19,216,000	-18,284,000	-18,050,000	-15,313,000	-10,979,000	-10,935,000	-12,737,000	-1,957,000	-11,152,000	-11,444,000	-8,985,000	-14,060,000	-10,165,000	-14,651,000		-4,123,000	-4,678,000	-5,808,000	-6,006,000	-3,110,000	-5,160,000	-94,000	-7,186,000	-3,829,500	-5,096,000	-5,238,000	-4,984,000	2,905,250	-5,052,000	-4,116,000	20,789,000	-2,369,500	-2,219,000	-3,541,000	-3,718,000	-2,012,500	-2,812,000	-2,648,000	-2,590,000	-5,725,250	-2,727,000	-17,643,000	-2,531,000	-2,423,750	-3,139,000	-3,121,000	-3,435,000	-770,750	-2,863,000	-113,000	-107,000	-1,145,250	-781,000	-1,421,000	-2,379,000	-4,964,500	-6,609,000	-8,036,000	-5,213,000
yoy	55.50%	89.40%	80.13%	46.57%	176.62%	127.45%	51.78%	54.59%	-62.61%	-21.74%	18.45%	17.88%	142.30%	20.15%	75.03%	67.21%	41.71%	682.47%	-1.55%	-4.45%	41.76%	-86.08%	9.71%	-21.89%		241.01%	117.29%	152.26%		32.57%	-9.34%	6078.72%	-16.42%	-18.79%	1.26%	-98.21%	44.18%	-231.81%	0.87%	27.26%	-123.97%	-222.61%	127.67%	16.24%	-659.14%	17.74%	-21.09%	33.72%	43.55%	-64.85%	3.12%	-84.99%	2.33%	136.21%	-13.13%	465.30%	-26.32%	214.47%	9.64%	2661.95%	3110.28%	-32.70%	266.58%	-92.05%	-95.50%	-76.93%	-88.18%	-82.32%	-54.36%
qoq	13.41%	-0.32%	27.42%	7.95%	38.14%	-5.20%	3.68%	103.75%	13.59%	-36.74%	5.60%	-50.72%	137.72%	-4.26%	5.10%	1.30%	17.87%	39.48%	0.40%	-14.15%	550.84%	-82.45%	-2.55%	27.37%	-36.10%	38.32%	-30.62%			-11.86%	-19.46%	-3.30%	93.12%	-39.73%	5389.36%	-98.69%	87.65%	-24.85%	-2.71%	5.10%	-271.55%	-157.51%	22.74%	-119.80%	-977.36%	6.78%	-37.33%	-4.76%	84.75%	-28.43%	6.19%	2.24%	-54.76%	109.95%	-84.54%	597.08%	4.42%	-22.79%	0.58%	-9.14%	345.67%	-73.08%	2433.63%	5.61%	-90.66%	46.64%	-45.04%	-40.27%	-52.08%	-24.88%	-17.76%	54.15%
operating margin %	-11345.97%	-6420.81%	-1166.83%	-199.72%	-390.40%	-311.17%	-364.52%	-285.18%	-116.58%	-94.71%	-249.98%	-280.54%	-415.22%	-183.76%	-166.16%	-196.73%	-156.36%	-169.04%	-121.81%	-149.32%	-178.61%	-12.47%	-270.55%	-152.81%	-104.08%	-560.38%	-140.98%	-728.18%	0%	-576.64%	-504.09%	-622.51%	-1560.00%	-443.65%	-874.58%	-1.57%	-2594.22%	-1259.70%	-1572.84%	-995.82%	-1069.53%	710.33%	-1540.24%	-790.02%	82.15%	-811.47%	-111.40%	-598.14%	-622.78%	-409.04%	-548.15%	-452.65%	-468.35%	-819.06%	-506.88%	-2800.48%	-152.56%	-65.24%	-871.94%	-753.86%	-721.64%	-4.90%	-555.92%	-3.29%	-3.16%	-35.53%	-24.69%	-47.85%	-84.78%	-183.67%	-1219.37%	-6278.13%	-5061.17%	NaN%	NaN%	NaN%	0%
other income:
interest and other income	2,955,000	2,293,000	2,894,000	3,642,000	3,944,000	3,387,000	3,720,000	4,037,000	2,338,000	1,786,000	1,623,000	1,202,000	1,064,000	640,000	362,000	61,000	6,000	6,000	280,000	1,000		-4,000	8,000	54,000	362,000	183,000	266,000	243,000	129,000	27,000	25,000	26,000	23,000	20,000	20,000	27,000	24,000	31,000	21,000	10,000	10,000
total other income	2,922,000	2,293,000	2,894,000	3,642,000	3,930,000	3,387,000	3,720,000	4,037,000	2,338,000	1,786,000	-159,000	390,000			-190,000		-439,750	-1,382,000	969,000																							6,000	10,000			2,000	1,000	1,000	1,000	2,000	3,000	3,000	6,000	8,000	11,000	139,000	49,000	19,000	341,000	461,000	336,000	884,000	230,000	79,000	-1,508,000	-566,000	40,000	277,000	1,423,000	1,326,000	1,093,000	2,225,000	4,210,000
net loss before income taxes	-67,423,000	-59,732,000	-59,333,000
provision for income taxes	-186,000		-93,000
net income	-67,609,000	-59,732,000	-59,426,000	-45,195,000	-41,399,000	-29,361,000	-30,826,000	-29,284,000	-14,099,000	-12,612,000	-22,920,000	-21,164,000	-43,452,000	-18,420,000	-19,406,000	-20,976,000	-19,432,000	-16,695,000	-10,010,000	-12,280,000	-15,469,000	-3,801,000	-12,950,000	-13,174,000	-10,410,000	-15,647,000	-11,498,000	-19,238,000	-33,126,000	-34,428,000	-6,978,000	-5,782,000	-5,983,000	-6,116,000	-5,140,000	-67,000	-7,162,000	-6,387,000	-5,041,000	-5,186,000	-4,933,000	-5,146,000	-4,998,000	-4,075,000	20,566,000	-3,967,000	-2,187,000	-3,514,000	-3,687,000	-3,947,000	-2,794,000	-2,608,000	-2,551,000	-2,262,000	-2,686,000	-17,460,000	-2,427,000	-140,000	-2,685,000	-2,695,000	-3,108,000	13,073,000	-2,705,000	-24,000	-1,591,000	-534,000	-636,000	-870,000	-471,000	-63,579,000	-5,501,000	-5,795,000	-795,000
yoy	63.31%	103.44%	92.78%	54.33%	193.63%	132.80%	34.49%	38.37%	-67.55%	-31.53%	18.11%	0.90%	123.61%	10.33%	93.87%	70.81%	25.62%	339.23%	-22.70%	-6.79%	48.60%	-75.71%	12.63%	-31.52%	-68.57%	-54.55%	64.78%	232.72%	453.67%	462.92%	35.76%	8529.85%	-16.46%	-4.24%	1.96%	-98.71%	45.19%	24.12%	0.86%	27.26%	-123.99%	29.72%	128.53%	15.96%	-657.80%	0.51%	-21.73%	34.74%	44.53%	74.49%	4.02%	-85.06%	5.11%	1515.71%	0.04%	547.87%	-21.91%	-101.07%	-0.74%	11129.17%	95.35%	-2548.13%	325.31%	-97.24%	237.79%	-99.16%	-88.44%	-84.99%	-40.75%
qoq	13.19%	0.51%	31.49%	9.17%	41.00%	-4.75%	5.27%	107.70%	11.79%	-44.97%	8.30%	-51.29%	135.90%	-5.08%	-7.48%	7.95%	16.39%	66.78%	-18.49%	-20.62%	306.97%	-70.65%	-1.70%	26.55%	-33.47%	36.08%	-40.23%	-41.92%	-3.78%	393.38%	20.68%	-3.36%	-2.17%	18.99%	7571.64%	-99.06%	12.13%	26.70%	-2.80%	5.13%	-4.14%	2.96%	22.65%	-119.81%	-618.43%	81.39%	-37.76%	-4.69%	-6.59%	41.27%	7.13%	2.23%	12.78%	-15.79%	-84.62%	619.41%	1633.57%	-94.79%	-0.37%	-13.29%	-123.77%	-583.29%	11170.83%	-98.49%	197.94%	-16.04%	-26.90%	84.71%	-99.26%	1055.77%	-5.07%	628.93%
net income margin %	-10904.68%	-6183.44%	-1114.31%	-184.82%	-357.26%	-278.99%	-325.27%	-250.63%	-100.51%	-82.96%	-251.73%	-275.47%	-412.53%	-183.98%	-167.80%	-225.69%	-168.33%	-184.29%	-111.06%	-167.69%	-216.93%	-24.22%	-314.17%	-175.91%	-120.58%	-623.63%	-159.47%	-956.16%	-6816.05%	-4815.10%	-751.94%	-619.72%	-1554.03%	-872.47%	-871.19%	-1.12%	-2585.56%	-2100.99%	-1555.86%	-985.93%	-1058.58%	-1258.19%	-1523.78%	-782.15%	81.27%	-1358.56%	-109.79%	-593.58%	-617.59%	-802.24%	-544.64%	-445.81%	-461.30%	-323.61%	-499.26%	-2771.43%	-146.29%	-3.77%	-745.83%	-650.97%	-652.94%	83.15%	-525.24%	-0.70%	-47.03%	-16.57%	-20.11%	-29.29%	-16.79%	-2352.16%	-1014.94%	-4527.34%	-771.84%	NaN%	NaN%	NaN%	0%
net income per share									-0.375	-0.33	-0.61	-0.56	-0.395	-0.49	-0.52	-0.56	-0.355	-0.58	-0.35	-0.5	-0.06	-0.03	-0.1	-0.11	-0.113	-0.15	-0.11	-0.2
basic and diluted	-0.82	-0.85	-0.85	-0.65	-0.65	-0.54	-0.58	-0.55
weighted-average common shares outstanding:
basic and diluted	73,251	70,168	69,926	69,767	56,298	54,449	53,206	52,913	38,904				37,317				28,758				12,836				104,307				75,170,000	46,226	45,644,000	44,530,000	39,430,000		34,366,000	34,177,000	34,175,000									27,444				23,044					20,803	20,803	20,757		20,177	18,531	18,531		18,480		18,294	18,263	18,262	18,262	18,262	18,166	730,519	730,519	715,938
other comprehensive income:
unrealized gain on available-for-sale securities	42	87	-91	-105	-143	379	-44
comprehensive income	-41,115.5	-59,645	-59,517	-45,300																																		15,201,360	-5,053,000	-5,211,000	-4,959,000	-11,341,752	-5,042,000	-4,123,000	20,513,000
interest expense											-435,000	-812,000	-781,000	-662,000	-552,000	-1,194,000	-1,388,000	-1,388,000	-1,376,000	-1,346,000	-1,827,000	-1,840,000	-1,806,000	-1,784,000	-1,787,000	-1,770,000	-1,599,000	-1,020,000	-815,000																																																-59,000
loss on extinguishment of debt											-1,347,000					-1,559,000												-3,810,000																																															-16,028,000
other comprehensive gain:
comprehensive loss					-41,542	-28,982	-30,870	-29,312	-14,076	-12,613	-22,921	-21,107	-43,319	-18,369	-19,592	-21,029	-19,432	-16,695	-10,010	-12,280	-15,468	-3,801	-12,950	-13,174	-10,410	-15,647	-11,497	-19,238	-33,126,000	18,685,834	-6,977,000	-5,783,000	-5,979,000	-3,099,250	-5,139,000	-82,000	-7,176,000									9,275,769	-2,183,000	-3,484,000	-3,622,000	7,969,078	-2,881,000	-2,616,000	-2,484,000
weighted-average shares outstanding:
basic and diluted	73,251	70,168	69,926	69,767	56,298	54,449	53,206	52,913	38,904				37,317				28,758				12,836				104,307				75,170,000	46,226	45,644,000	44,530,000	39,430,000		34,366,000	34,177,000	34,175,000									27,444				23,044					20,803	20,803	20,757		20,177	18,531	18,531		18,480		18,294	18,263	18,262	18,262	18,262	18,166	730,519	730,519	715,938
other comprehensive loss:
unrealized gain on available-for-sale securities, net of tax of 0 for periods presented								-28	23	-1	-1	57	-47	51
cost of sales, excluding amortization of acquired intangible assets									998,000	1,202,000	1,792,000	640,000	3,410,000	1,405,000	1,734,000	1,777,000	3,033,000	1,825,000	1,929,000	1,390,000	2,461,000	1,882,000	502,000	980,000	1,324,000	327,000	706,000	330,000
amortization of acquired intangible assets													205,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000
net income per share									-0.375	-0.33	-0.61	-0.56	-0.395	-0.49	-0.52	-0.56	-0.355	-0.58	-0.35	-0.5	-0.06	-0.03	-0.1	-0.11	-0.113	-0.15	-0.11	-0.2
weighted-average shares outstanding – basic and diluted										38,341	37,576	37,486
gain on extinguishment of debt																			2,065,000
total other expense													283,000	-22,000		-2,692,000				-1,345,000	-2,732,000	-1,844,000	-1,798,000	-1,730,000	-1,425,000	-1,587,000	-1,333,000	-4,587,000
weighted-average shares outstanding - basic and diluted														37,338	37,322	37,253		28,766	28,744	24,735		127,945	124,771	115,530		106,938	106,238
unrealized loss on available-for-sale securities, net of tax of 0 for periods presented															-186	-53
license and collaboration agreement																	148,500	159,000	94,000	341,000	2,897,500	9,535,000	35,000	2,020,000	281,250	1,054,000
foreign currency translation adjustments																											1			-3,995	1,000	-1,000	4,000	29,979		-15,000	-15,000	67,904	-21,000	-19,000	-28,000	140,905	-45,000	-46,000	-50,000	-99,876	5,000	30,000	65,000	30,971	-87,000	-3,000	59,000
change in fair value of derivative liability																													-18,886,000	-23,953,000	-2,325,000
collaborative research and development																											5,000	65,000	56,000	218,000	524,000	461,000	140,000	461,000	372,000	5,702,000	34,000	26,000	50,000	142,000	180,000	56,000	110,000	164,000	25,081,000	6,000	1,676,000	300,000	173,000	177,000	239,000	195,000	169,000	257,000	158,000	204,000	1,461,000	3,394,000	56,000	88,000	74,000	15,328,000	490,000	3,406,000	3,346,000	3,186,000	3,136,000	2,915,000	2,765,000	2,647,000	503,000	89,000	89,000
weighted-average shares outstanding—basic and diluted																												95,452
operating income																													-13,554,000
net loss per common share:
basic and diluted																													-440	-107.5	-150	-130	-150	-90	-150		-210
weighted-average common shares:
basic and diluted	73,251	70,168	69,926	69,767	56,298	54,449	53,206	52,913	38,904				37,317				28,758				12,836				104,307				75,170,000	46,226	45,644,000	44,530,000	39,430,000		34,366,000	34,177,000	34,175,000									27,444				23,044					20,803	20,803	20,757		20,177	18,531	18,531		18,480		18,294	18,263	18,262	18,262	18,262	18,166	730,519	730,519	715,938
other comprehensive income																														-3,995	1,000	-1,000	4,000	-7,000	1,000							144,901	-44,000	-48,000	-53,000	-98,876	4,000	30,000	65,000	27,978	-87,000	-8,000	67,000
net unrealized gain on marketable securities																																		-1,998	1,000		1,000	-4,997	9,000		2,000	3,996	1,000			-250	-1,000			-2,993		-5,000	8,000
income before income taxes																																		-6,116,000	-5,140,000	-67,000	-7,162,000	-6,425,000	-5,075,000	-5,228,000	-4,974,000	-5,194,000	-5,042,000	-4,113,000	20,792,000	-4,010,000	-2,218,000	-3,540,000	-3,717,000	-3,979,000	-2,809,000	-2,645,000	-2,584,000	-2,302,000	-2,716,000	-17,504,000	-2,482,000	-289,000	-2,798,000	-2,660,000	-3,099,000	13,058,000	-2,633,000	-34,000	-1,615,000	-710,250	-741,000	-1,144,000	-956,000
income tax benefit																																						38,000	34,000	42,000	41,000	48,000	44,000	38,000	-226,000	43,000	31,000	26,000	30,000	32,000	15,000	37,000	33,000	40,000	30,000	44,000	55,000	149,000	113,000	-35,000	-9,000	15,000	-72,000	10,000	24,000	87,000	105,000	274,000	485,000	244,000	15,000	16,000	208,000
other comprehensive loss																																				-15,000	-14,000	-15,750	-12,000	-25,000	-26,000
net income per common share:
basic																																						489.32	-150	-180	-170	-389.78	-170	-140	700
diluted																																						489.32	-150	-180	-170	-379.79	-170	-140	670
weighted-average common shares:
basic																																		35,344				31,623	33,538,000	29,437,000	29,416,000	29,378	29,412,000	29,367,000	29,323,000									20,791				19,489				18,405
diluted																																		35,344				31,623	33,538,000	29,437,000	29,416,000	30,584	29,412,000	29,367,000	30,765,000									20,791				19,489				18,895
net unrealized loss on marketable securities																																								-6,000				-2,000	-3,000
gain on sale of property and equipment																																														-2,000	-4,000	-72,000
interest income																																										7,000	6,000	3,000	3,000	3,000	1,000	1,000	1,000	2,000	3,000	4,000	7,000	8,000	10,000	11,000	9,000	11,000	7,000	6,000	6,000	25,000			2,000	7,000	22,000	55,000	78,000	114,000	121,000	187,000	226,000				3,000
other income																																										-1,000	4,000							-500				-250	1,000			-2,000		-3,000	-8,000	-12,000	4,000	-4,000	9,000	46,000	-4,000	-4,000	15,000	48,000	6,000	361,000	-59,000		119,000	119	18,000
other expense																																																				-1,000	-1,000				-2,000
net loss per common share - basic and diluted																																														-87.5	-80	-130	-140	-87.5	-120	-110	-110
weighted-average common shares - basic and diluted																																															27,672,000	26,953,000	25,918,000		23,297,000	23,297,000	22,294,000
impairment of intangible assets																																																								14,830,000
change in fair value of derivatives																																																								128,000	42,000	10,000	334,000	458,000	338,000	871,000	226,000	83,000	-1,519,000	-619,000	22,000	226,000	1,330,000	1,164,000	1,172,000	1,828,000	4,193,000
basic and diluted net loss per share:																																																						-0.273	-0.13	-0.84		-0.113	-0.13	-0.15		-0.06	-0.15		-0.09				-0.03
basic and diluted net loss per share																																																									-0.12				-0.17					-0.028	-0.03	-0.05
weighted-average common shares outstanding: basic and diluted																																																																18,317
selling, general and administrative																																																																						2,152,250	3,546,000	3,218,000	1,845,000		-10,192,000
interest and finance costs																																																																							-206,000	-151,000	-150,000		-8,210,000
loss from continuing operations before income taxes																																																																						-63,823,000	-5,516,000	-5,811,000	-1,003,000
loss from continuing operations																																																																						-63,579,000	-5,501,000	-5,795,000	-795,000
loss from discontinued operations
weighted-average ordinary shares outstanding:
basic and diluted	73,251	70,168	69,926	69,767	56,298	54,449	53,206	52,913	38,904				37,317				28,758				12,836				104,307				75,170,000	46,226	45,644,000	44,530,000	39,430,000		34,366,000	34,177,000	34,175,000									27,444				23,044					20,803	20,803	20,757		20,177	18,531	18,531		18,480		18,294	18,263	18,262	18,262	18,262	18,166	730,519	730,519	715,938
research and development - impairment of intangible assets
in-process research and development
research and development - other																																																																									3,471,000		-14,486,000
loss prior to elimination of loss attributable to minority interest																																																																									-795,000
loss attributable to minority interest
gain on sale of discontinued operations
net income from discontinued operations
revenue																																																																											2,120,000	2,120
research and development - impairment
of intangible assets																																																																											-83,352,000
change in fair value of derivative																																																																											2,707,000	2,707
foreign exchange gain																																																																											180,000	180
loss before income tax																																																																											-127,142,000
deferred income tax benefit																																																																											26,400,000	26,400
loss for the period																																																																											-100,742,000
loss per share:
basic and diluted																																																																											-0.25
notes to the financial statements are included on pages 15 to 39.
revenues
collaborative research and development — related party																																																																													3,500,000
collaborative research and development — other																																																																													176,000
royalties — related party																																																																													3,074,000
operating expenses
royalties																																																																													37,000
charge for asset impairment
earnings from operations																																																																													1,465,000
net earnings																																																																													1,427,000
accretion of redeemable convertible preferred stock																																																																													-1,926,000
net income attributable to common stockholders																																																																													-499,000

Balance Sheets:

Quarterly

Annual

Unit: USD	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	2018-09-30	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	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-04-02	2007-02-28	2006-12-31	2006-10-31	2006-09-13	2006-06-30	2006-05-11	2006-02-28	2005-12-22	2005-09-13	2005-06-30	2005-05-11	2005-02-28	2004-09-30	2004-02-28

assets
current assets:
cash and cash equivalents	101,821,000	74,577,000	71,143,000	85,158,000	99,704,000	79,830,000	90,769,000	271,013,000	281,263,000	133,035,000	139,597,000	105,765,000	95,633,000	75,362,000	82,134,000	101,545,000	178,593,000	119,710,000	127,630,000	138,579,000	44,909,000	28,726,000	22,814,000	26,299,000	22,214,000	31,760,000	44,161,000	43,379,000	55,764,000	38,776,000	16,346,000	12,876,000	11,833,000	16,898,000	12,871,000	11,685,000	14,308,000	15,313,000	24,867,000	11,210,000	14,088,000	19,121,000	23,007,000	29,751,000	11,384,000	15,334,000	18,555,000	15,219,000	14,546,000	6,899,000	7,998,000	9,409,000	8,388,000	4,625,000	6,375,000	8,408,000	9,811,000	12,912,000	13,296,000	7,377,000	10,126,000	15,514,000	3,971,000	5,129,000	5,963,000	6,899,000	8,019,000	9,849,000	10,982,000	15,609,000	18,175,000	9,783,000	16,454,000	3,146	5,380,000	5,380	5,380,000	15,446,552	15,446,552	15,446,552	27,683,278	5,380	1,817,000			27,683,278		1,015,000
marketable securities	204,265,000	129,445,000	184,590,000	233,036,000	271,209,000	173,963,000	189,479,000	28,335,000	49,787,000	2,977,000	2,938,000	16,718,000	48,928,000	81,897,000	89,033,000	89,239,000	32,965,000																		2,499,000	5,847,000	8,238,000	13,679,000	8,407,000	9,881,000	9,917,000	9,414,000	8,651,000	5,935,000	2,924,000	2,944,000	2,712,000	502,000	1,908,000	3,374,000	5,699,000	6,311,000	9,258,000	9,946,000	10,087,000	10,272,000	11,460,000	11,216,000	9,770,000	7,266,000	5,193,000	2,051,000
accounts and other receivables	651,000	1,045,000	625,000	442,000	607,000	378,000	1,375,000	3,015,000	805,000	483,000	10,952,000	10,422,000	15,503,000	20,876,000	22,594,000	19,589,000	18,354,000	13,602,000	15,111,000	12,332,000	9,453,000	9,392,000	7,350,000	14,390,000	11,368,000	8,855,000	9,598,000	2,258,000	489,000	353,000	478,000	288,000	287,000	251,000	300,000	457,000	462,000	488,000	472,000	573,000	569,000	622,000	430,000	727,000	25,462,000	517,000	613,000	636,000	1,112,000	597,000	1,035,000	948,000	938,000	967,000	985,000	1,016,000	723,000	843,000	832,000	1,094,000	1,487,000		713,000	788,000	833,000		879,000	885,000	1,162,000	986,000
prepaid expenses and other current assets	20,105,000	8,929,000	6,215,000	6,218,000	9,481,000	11,571,000	9,636,000	11,089,000	9,039,000	9,091,000	9,370,000	9,081,000	9,858,000	10,436,000	8,851,000	5,920,000	4,217,000	3,892,000	3,704,000	2,856,000	3,419,000	5,832,000	5,895,000	5,647,000	5,997,000	3,887,000	3,144,000	1,849,000	1,389,000	780,000	851,000	481,000	427,000	591,000	800,000	546,000	495,000	483,000	532,000	198,000	589,000	681,000	989,000	935,000	915,000	547,000	582,000	875,000	1,546,000	1,594,000	473,000	142,000	316,000	421,000	448,000	157,000	286,000	395,000	440,000	121,000	246,000	358,000	448,000	143,000	300,000	413,000	469,000	172,000	370,000	614,000													190,000					76,000
inventory	1,813,000	2,110,000	2,678,000	2,129,000	2,305,000	2,807,000	3,672,000	4,257,000	3,906,000	4,577,000	4,261,000	4,071,000	2,886,000	3,531,000	3,254,000	3,336,000	3,616,000	4,571,000	5,381,000	5,586,000	5,337,000	3,642,000	3,773,000	3,358,000	2,138,000	2,559,000	1,670,000	886,000
total current assets	328,655,000	216,106,000	265,251,000	326,983,000	383,306,000	268,549,000	294,931,000	317,709,000	344,800,000	150,163,000	167,118,000	146,057,000	172,808,000	192,102,000	205,866,000	219,629,000	237,745,000	141,775,000	151,826,000	159,353,000	63,118,000	47,592,000	39,832,000	49,694,000	41,717,000	47,061,000	58,573,000	48,372,000	57,642,000	39,909,000	17,675,000	13,645,000	12,547,000	17,740,000	16,470,000	18,535,000	23,503,000	29,963,000	34,278,000	21,862,000	25,163,000	29,838,000	33,077,000	37,348,000	40,685,000	19,342,000	22,462,000	17,232,000	19,112,000	12,464,000	15,205,000	16,810,000	18,900,000	15,959,000	17,895,000	19,853,000	22,280,000	25,366,000	24,338,000	15,858,000	17,052,000	19,034,000	5,132,000	6,060,000	7,096,000	8,127,000	9,367,000	10,906,000	13,181,000	17,690,000	22,406,000	13,145,000	19,353,000	6,708	7,805,000	7,805	7,805,000	17,080,192	17,080,192	17,080,192	29,436,601	7,805		13,924,412	13,924,412	29,436,601	22,340,349		22,340,349
property and equipment	9,023,000	8,861,000	8,762,000	8,044,000	8,177,000	8,391,000	6,899,000	6,677,000	5,251,000	4,480,000	2,873,000	2,609,000	1,360,000	1,015,000	1,111,000	545,000	476,000	560,000	515,000	559,000	630,000	492,000	412,000	425,000	357,000	386,000	417,000	425,000	320,000	253,000	250,000	293,000	337,000	313,000	241,000	231,000	257,000	290,000	311,000	311,000	318,000	338,000	280,000	265,000	261,000	297,000	292,000	133,000	146,000	179,000	223,000	277,000	289,000	335,000	410,000	423,000	397,000	123,000	135,000	88,000	50,000	43,000	52,000	47,000	55,000	66,000	75,000	366,000	414,000	473,000	308,000	346,000	467,000										559,000					4,312,000
operating lease right-of-use assets	20,223,000	20,660,000	21,089,000	21,510,000	21,000,000	21,405,000	22,269,000	4,711,000	4,983,000	5,250,000	5,514,000	5,777,000	6,038,000	6,319,000	4,787,000	2,097,000	2,252,000	2,402,000	2,353,000	2,484,000	2,610,000	2,733,000	2,852,000	2,967,000	3,078,000	3,186,000	3,291,000	3,393,000
restricted cash	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000
other assets	5,945,000	5,918,000	5,895,000	5,877,000	5,832,000	2,422,000																									110,000	109,000	109,000	110,000	104,000	112,000	113,000	114,000	115,000	115,000	116,000	116,000	115,000	116,000	116,000	117,000	177,000	177,000	177,000	176,000	73,000	72,000	72,000	77,000	77,000	76,000	76,000	60,000	61,000	61,000	60,000	60,000	60,000	85,000	84,000
total assets	363,996,000	251,695,000	301,147,000	362,564,000	418,465,000	300,917,000	324,249,000	329,247,000	355,184,000	160,043,000	175,655,000	154,593,000	180,356,000	220,490,000	233,433,000	244,555,000	263,372,000	168,251,000	178,823,000	187,140,000	91,717,000	76,791,000	69,685,000	80,290,000	72,971,000	79,067,000	91,330,000	81,854,000	88,855,000	71,670,000	50,158,000	14,197,000	13,327,000	18,677,000	17,505,000	19,746,000	24,933,000	31,619,000	36,165,000	23,950,000	27,460,000	32,367,000	35,702,000	40,180,000	43,740,000	22,671,000	26,021,000	20,819,000	22,735,000	16,249,000	19,120,000	21,042,000	23,339,000	20,597,000	22,833,000	24,948,000	43,140,000	47,113,000	46,940,000	38,688,000	41,000,000	43,014,000	29,918,000	32,630,000	34,492,000	37,104,000	36,371,000	39,231,000	47,161,000	55,784,000	115,866,000	107,670,000	116,327,000	101,554	123,576,000	123,576	123,576,000	235,486,077	235,162,030	235,486,077	254,286,510	123,576		82,035,313	82,035,313	254,286,510	89,875,321		89,875,321
liabilities and stockholders' equity
current liabilities:
accounts payable	10,490,000	10,076,000	19,685,000	16,419,000	11,721,000	7,343,000	14,296,000	7,082,000	6,504,000	9,580,000	10,717,000	9,453,000	5,919,000	6,112,000	7,058,000	7,302,000	7,385,000	6,639,000	5,421,000	5,855,000	4,811,000	5,185,000	3,882,000	5,158,000	4,192,000	5,461,000	6,066,000	6,318,000	4,075,000	2,940,000	2,760,000	1,483,000	1,756,000	1,016,000	741,000	1,110,000	1,015,000	1,363,000	571,000	303,000	893,000	744,000	812,000	384,000	1,105,000	464,000	761,000	176,000	1,082,000	671,000	355,000	215,000	266,000	394,000	346,000	262,000	511,000	328,000	320,000	219,000	356,000	387,000	472,000	309,000	407,000	284,000	419,000	374,000	737,000	2,634,000													737,000					585,000
accrued expenses	24,394,000	17,943,000	11,478,000	18,178,000	18,103,000	14,166,000	13,341,000	15,940,000	17,521,000	13,417,000	15,146,000	10,485,000	16,359,000	16,004,000	14,312,000	12,329,000	14,422,000	11,463,000	9,114,000	5,915,000	8,445,000	6,845,000	5,131,000	4,559,000	6,832,000	4,446,000	4,214,000	2,924,000	3,343,000	3,723,000	3,215,000	2,262,000	2,513,000	4,224,000	3,943,000	3,681,000	3,688,000	3,583,000	3,378,000	3,552,000	2,067,000	2,571,000	1,371,000	1,820,000	1,103,000	1,524,000	1,203,000	1,204,000	1,087,000	1,894,000	1,437,000	1,084,000	801,000	608,000	778,000	650,000	845,000	1,322,000	908,000	803,000	912,000	1,158,000	1,048,000	1,174,000	1,289,000	1,552,000	1,593,000	1,326,000	1,466,000	2,236,000
deferred revenue				5,115,000	17,784,000	25,996,000	33,335,000	38,377,000	38,592,000	39,841,000	42,084,000	1,237,000	1,205,000	1,169,000	1,137,000	1,102,000	1,069,000	1,035,000	1,008,000	973,000	945,000	300,000		30,000	15,000						240,000	505,000	10,000	50,000	256,000	136,000	139,000	147,000	19,000	28,000	33,000	33,000	35,000	69,000	104,000	138,000	312,000	771,000	688,000	738,000	893,000	784,000	2,395,000	2,176,000	1,465,000	1,722,000	2,509,000	3,212,000	84,000	81,000	83,000	79,000	79,000	121,000	3,073,000	5,912,000	8,654,000	11,034,000	10,747,000	10,476,000	10,250,000	350,000	338,000	2,005	2,192,000	2,192	2,192,000	2,668,574		2,668,574		2,192	1,351,000					750,000
other current liabilities	2,140,000	2,075,000	2,012,000	1,965,000	1,440,000	1,289,000	1,130,000	1,181,000	646,000	1,058,000	970,000	772,000	579,000	496,000	408,000	763,000	782,000	796,000	707,000	698,000	687,000	597,000	573,000	551,000
total current liabilities	37,024,000	30,094,000	33,175,000	41,677,000	49,048,000	48,794,000	62,102,000	62,580,000	63,263,000	63,896,000	68,917,000	27,242,000	34,537,000	34,256,000	33,390,000	31,971,000	23,658,000	19,933,000	16,250,000	13,441,000	14,888,000	12,927,000	9,586,000	10,298,000	11,520,000	10,368,000	10,721,000	24,659,000	22,418,000	21,663,000	21,215,000	4,250,000	4,279,000	5,290,000	4,940,000	4,927,000	4,842,000	5,093,000	3,968,000	3,883,000	2,993,000	3,348,000	2,218,000	2,273,000	2,312,000	2,126,000	2,276,000	2,151,000	2,857,000	3,303,000	2,685,000	2,083,000	3,462,000	3,178,000	2,589,000	2,634,000	3,993,000	5,032,000	1,492,000	1,617,000	2,323,000	2,934,000	3,780,000	4,011,000	7,259,000	8,719,000	11,018,000	13,108,000	13,550,000	17,276,000	15,897,000	11,190,000	12,904,000	21,328	30,247,000	30,247	30,247,000	23,962,620	23,920,869	23,962,620	18,562,754	30,247		2,047,699	2,047,699	18,562,754	1,439,161		1,439,161
deferred revenue – noncurrent					10,853,000	11,234,000	11,678,000	12,109,000	20,692,000	32,341,000	44,021,000	13,270,000			14,070,000
operating lease liabilities – noncurrent	20,772,000	21,301,000	21,815,000	22,314,000	21,858,000	21,922,000	22,164,000	4,624,000	4,906,000	5,185,000	5,455,000	5,721,000			4,826,000
other noncurrent liabilities	87,000	118,000	148,000	177,000	205,000	233,000
total liabilities	57,883,000	51,513,000	55,138,000	64,168,000	81,964,000	82,183,000	95,944,000	79,313,000	88,861,000	101,422,000	118,393,000	76,203,000	83,988,000	84,140,000	82,067,000	77,736,000	78,992,000	75,503,000	71,958,000	71,433,000	73,176,000	69,197,000	65,497,000	63,816,000	64,641,000	63,129,000	63,120,000	61,977,000	41,150,000	59,983,000	41,960,000	4,292,000	4,326,000	5,341,000	4,995,000	4,984,000	10,485,000	10,738,000	9,612,000	9,526,000	8,637,000	8,999,000	7,855,000	7,905,000	7,938,000	7,747,000	7,675,000	8,220,000	8,498,000	8,549,000	7,879,000	7,232,000	7,176,000	6,961,000	7,278,000	7,155,000	7,908,000	9,680,000	9,946,000	10,144,000	9,894,000	9,973,000	10,339,000	10,153,000	12,920,000	13,563,000	15,284,000	17,440,000	19,837,000	25,706,000				23,834	39,756,000	39,756	39,756,000	60,453,492	61,885,862	60,453,492	65,056,288	39,756		2,047,699	2,047,699	65,056,288	1,439,161		1,439,161
contingencies
stockholders' equity:
preferred stock, .001 par value...
common stock, .001 par value...	83,000	70,000	69,000	69,000	68,000	53,000	52,000	50,000	49,000	35,000	34,000	34,000	34,000	34,000	34,000	34,000	34,000	29,000	29,000	29,000	18,000	131,000	125,000	125,000	109,000	108,000	106,000	96,000	95,000	74,000	54,000	45,000	40,000	39,000	35,000	34,000	34,000	34,000	34,000	29,000	29,000	29,000	29,000	29,000	29,000	29,000	29,000	27,000	27,000	23,000	23,000	23,000	23,000	21,000	21,000	21,000	21,000	21,000	21,000	19,000	19,000	19,000	19,000	18,000	18,000	18,000	18,000	18,000	18,000	18,000
additional paid-in capital	1,410,047,000	1,236,562,000	1,222,745,000	1,215,615,000	1,208,421,000	1,049,127,000	1,029,717,000	1,020,478,000	1,007,556,000	785,792,000	771,821,000	770,028,000	766,899,000	763,562,000	760,209,000	756,070,000	752,602,000	641,543,000	638,965,000	637,797,000	528,362,000	501,834,000	494,633,000	493,969,000	472,667,000	469,866,000	466,493,000	446,673,000	443,671,000	374,766,000	336,870,000	331,609,000	324,927,000	323,284,000	316,233,000	313,347,000	312,951,000	312,208,000	311,463,000	294,286,000	293,474,000	293,060,000	292,439,000	291,825,000	291,229,000	290,864,000	290,344,000	282,416,000	280,570,000	270,415,000	270,015,000	269,703,000	269,440,000	264,431,000	264,041,000	263,662,000	263,497,000	262,906,000	262,311,000	251,695,000	251,247,000	250,796,000	250,403,000	249,697,000	248,793,000	248,500,000	248,200,000	247,936,000	247,722,000	247,628,000	243,156,000	243,094,000	242,746,000										11,805,000					13,056,000
accumulated deficit	-1,104,978,000	-1,037,369,000	-977,637,000	-918,211,000	-873,016,000	-831,617,000	-802,256,000	-771,430,000	-742,146,000	-728,047,000	-715,435,000	-692,515,000	-671,351,000	-627,899,000	-609,479,000	-590,073,000	-569,097,000	-549,665,000	-532,970,000	-522,960,000	-510,680,000	-495,211,000	-491,410,000	-478,460,000	-465,286,000	-454,876,000	-439,229,000	-427,731,000	-396,899,000	-363,991,000	-329,563,000	-322,585,000	-316,803,000	-310,820,000	-304,582,000	-299,442,000	-299,375,000	-292,213,000	-285,826,000	-280,785,000	-275,599,000	-270,666,000	-265,520,000	-260,522,000	-256,447,000	-277,013,000	-273,046,000	-270,859,000	-267,345,000	-263,658,000	-259,711,000	-256,917,000	-254,309,000	-251,758,000	-249,496,000	-246,810,000	-229,350,000	-226,923,000	-226,783,000	-224,098,000	-221,403,000	-218,295,000	-231,368,000	-228,663,000	-228,639,000	-227,048,000	-226,514,000	-225,878,000	-225,008,000	-224,537,000	-160,958,000	-155,457,000											-41,941,000					-43,368,000
accumulated other comprehensive income	961,000	919,000	832,000	923,000	1,028,000	1,171,000	792,000	836,000	864,000	841,000	842,000	843,000	786,000	653,000	602,000	788,000	841,000	841,000	841,000	841,000	841,000	840,000	840,000	840,000	840,000	840,000	840,000	839,000	838,000	838,000	837,000	836,000	837,000	833,000	824,000	823,000	838,000	852,000	882,000	894,000	919,000	945,000	899,000	943,000	991,000	1,044,000	1,019,000	1,015,000	985,000	920,000	914,000	1,001,000	1,009,000	942,000	989,000	920,000	1,064,000	1,429,000	1,445,000	928,000	1,243,000	521,000	525,000	1,425,000	1,400,000	2,071,000	-617,000	-285,000	4,592,000	6,969,000	6,964,000	7,038,000	8,197,000
total stockholders' equity	306,113,000	200,182,000	246,009,000	298,396,000	336,501,000	218,734,000	228,305,000	249,934,000	266,323,000	58,621,000	57,262,000	78,390,000	96,368,000	136,350,000	151,366,000	166,819,000		92,748,000	106,865,000	115,707,000		7,594,000	4,188,000	16,474,000		15,938,000	28,210,000		47,705,000																									13,636,000										22,477,000
total liabilities and stockholders' equity	363,996,000	251,695,000	301,147,000	362,564,000	418,465,000	300,917,000	324,249,000	329,247,000	355,184,000	160,043,000	175,655,000	154,593,000	180,356,000	220,490,000	233,433,000	244,555,000		168,251,000	178,823,000	187,140,000		76,791,000	69,685,000	80,290,000		79,067,000	91,330,000		88,855,000																									20,597,000
short-term borrowings												5,295,000	10,475,000	10,475,000	10,475,000	10,475,000
long-term debt												29,370,000	29,310,000	29,251,000	29,181,000	29,108,000	36,562,000	36,396,000	36,235,000	38,124,000	37,977,000	50,775,000	50,259,000	47,716,000	47,223,000	46,733,000	46,250,000	31,952,000	17,463,000	17,309,000	12,850,000																																																									3,329,000
other long-term liabilities												600,000	600,000	600,000	600,000	658,000	2,352,000	2,363,000	2,328,000	2,347,000	2,365,000	3,012,000	3,026,000	3,038,000	3,000,000	3,000,000	3,000,000	2,100,000	1,269,000	1,231,000	938,000
intangible assets														20,904,000	21,519,000	22,134,000	22,749,000	23,364,000	23,979,000	24,594,000	25,209,000	25,824,000	26,439,000	27,054,000	27,669,000	28,284,000	28,899,000	29,514,000	30,743,000	31,358,000	31,973,000		184,000	364,000	540,000	718,000	910,000	1,102,000	1,311,000	1,512,000	1,713,000	1,925,000	2,080,000	2,301,000	2,528,000	2,765,000	2,940,000	3,127,000	3,300,000	3,430,000	3,619,000	3,883,000	4,078,000	4,226,000	4,451,000	4,596,000	20,387,000	21,564,000	22,406,000	22,681,000	23,838,000	23,877,000	24,674,000	26,438,000	27,257,000		26,796,000	27,899,000	33,507,000															64,837,238	55,927,494		65,762,018		65,762,018
deferred revenue - noncurrent													13,557,000	13,798,000		14,302,000	14,560,000	14,792,000	15,132,000	15,349,000	15,616,000
operating lease liabilities - noncurrent													5,984,000	6,235,000		1,697,000	1,860,000	2,019,000	2,013,000	2,172,000	2,330,000	2,483,000	2,626,000	2,764,000		3,028,000	3,149,000
liabilities and stockholders’ equity
stockholders’ equity:
total stockholders’ equity																	184,380,000				18,541,000				8,330,000			19,877,000		11,687,000	8,198,000	9,905,000	9,001,000	13,336,000	12,510,000	14,762,000	14,448,000	20,881,000	26,553,000	14,424,000	18,823,000	23,368,000	27,847,000	32,275,000	35,802,000	14,924,000	18,346,000	12,599,000	14,237,000	7,700,000	11,241,000	13,810,000	16,163,000		15,555,000	17,793,000	35,232,000	37,433,000	36,994,000	28,544,000	31,106,000	33,041,000	19,579,000		21,572,000	23,541,000	21,087,000	21,791,000	27,324,000	30,078,000	89,162,000	94,675,000	101,500,000
total liabilities and stockholders’ equity																	263,372,000				91,717,000				72,971,000			81,854,000		71,670,000	50,158,000	14,197,000	13,327,000	18,677,000	17,505,000	19,746,000	24,933,000	31,619,000	36,165,000	23,950,000	27,460,000	32,367,000	35,702,000	40,180,000	43,740,000	22,671,000	26,021,000	20,819,000	22,735,000	16,249,000	19,120,000	21,042,000	23,339,000		22,833,000	24,948,000	43,140,000	47,113,000	46,940,000	38,688,000	41,000,000	43,014,000	29,918,000	32,630,000	34,492,000	37,104,000	36,371,000	39,231,000	47,161,000	55,784,000	115,866,000	107,670,000	116,327,000
accrued development milestone																												15,000,000	15,000,000	15,000,000	15,000,000
operating lease liabilities - current portion																									481,000	461,000	441,000
operating lease liabilities - noncurrent portion																									2,898,000
operating lease liabilities—current portion																												417,000
operating lease liabilities—noncurrent																												3,266,000
commitments and contingencies
derivative liability																														19,780,000	6,957,000
deferred rent																																42,000	47,000	51,000	55,000	57,000	58,000	60,000	60,000	59,000	57,000	55,000	53,000	48,000	42,000	37,000	11,000
deferred revenue, less current portion																																					5,585,000	5,585,000			5,587,000	5,596,000			5,584,000	5,584,000
derivative liabilities																																																									128,000	170,000	180,000	514,000	972,000	1,310,000	2,181,000	2,407,000	2,490,000	971,000	352,000	374,000	600,000	1,930,000	2,262,000	3,434,000	5,262,000
deferred tax liabilities																																																										13,000	132,000	222,000	222,000	222,000	222,000	222,000	222,000	222,000	253,000	316,000	316,000	316,000	616,000	632,000	648,000	2,506	4,038,000	4,038	4,038,000	32,550,780	34,024,901	32,550,780	35,049,999	4,038				35,049,999
accounts and other receivables, net of allowance																																																														1,111,000				815,000
note receivable, net of allowance																																																																					667,000	481,000
note receivable and other, net of allowance																																																																		109,000	133,000	60,000	59,000
intangibles																																																																		28,802,000
deferred revenue and other																																																																				4,016,000	5,971,000	8,114,000
other intangibles																																																																						36,802,000
goodwill																																																																							55,386,000	55,413,000	56,042,000	47,757	50,826,000	50,826	50,826,000	53,159,229	52,835,183	53,159,229	53,280,689	50,826			8,909,744	53,280,689
accounts and note receivable and other current assets																																																																							4,231,000	3,362,000	2,899,000
other intangibles, net of accumulated amortization of 71,847 and 69,010, respectively																																																																							37,766,000
accounts payable and accrued expenses																																																																							3,385,000	7,406,000	7,304,000
common stock
other intangibles, net of accumulated amortization of 70,897 and 69,010, respectively																																																																								38,766,000
other intangibles, net of accumulated amortization of 70,192 and 68,873, respectively																																																																									40,465,000
accumulated deficit prior to development stage																																																																									-2,016,000
accumulated deficit during development stage																																																																									-147,427,000
current assets
trade and other receivables																																																																										2,957	2,053,000	2,053	2,053,000	1,001,486	1,001,486	1,001,486	1,238,335	2,053				1,238,335
prepayments																																																																										605				632,154		632,154
non-current assets
property, plant and equipment																																																																										603	1,764,000	1,764	1,764,000	3,139,549	3,139,549	3,139,549	3,864,981	1,764		3,273,663	3,273,663	3,864,981
other intangible assets																																																																										46,486	63,181,000	63,181	63,181,000	162,107,107	162,107,106	162,107,107	167,714,239	63,181				167,714,239
total non-current assets																																																																										94,846	115,771,000	115,771	115,771,000	218,405,885	218,081,838	218,405,885	224,849,909	115,771		68,110,901	68,110,901	224,849,909	67,534,972		67,534,972
current liabilities
trade and other payables																																																																										8,711	10,919,000	10,919	10,919,000	7,416,013	10,042,837	7,416,013	10,978,448	10,919				10,978,448
borrowings																																																																											6,011,000	6,011	6,011,000	11,219,697	11,219,696	11,219,697	6,848,377	6,011				6,848,377
other financial liabilities																																																																										10,444	10,984,000	10,984	10,984,000	2,465,416	2,465,416	2,465,416		10,984
provisions																																																																										168	141,000	141	141,000	192,920	192,920	192,920	735,929	141		29,879	29,879	735,929	8,034		8,034
non-current liabilities
total non-current liabilities																																																																										2,506	9,509,000	9,509	9,509,000	36,490,872	37,964,993	36,490,872	46,493,534	9,509				46,493,534
net assets																																																																										77,720	83,820,000	83,820	83,820,000	175,032,585	173,276,168	175,032,585	189,230,222	83,820		79,987,614	79,987,614	189,230,222	88,436,160		88,436,160
equity
issued capital																																																																										244,040	233,097,000	233,097	233,097,000	230,377,035	231,518,913	230,377,035	224,897,860	233,097				224,897,860
reserves																																																																										12,866	8,393,000	8,393	8,393,000	1,583,894	1,960,738	1,583,894	3,797,322	8,393		20,671	20,761	3,797,322	538,395		538,395
defecit accumulated prior to development stage
defecit accumulated during development stage
total equity																																																																										77,720	83,820,000	83,820	83,820,000	175,032,585	173,276,168	175,032,585	189,230,222	83,820		79,987,614	79,987,614	189,230,222	88,436,160		88,436,160
other																																																																											372,000	372	372,000		632,154		514,988	372		322,933	322,933	514,988	93,310		93,310
deficit accumulated prior to development stage																																																																											-3,813,000		-3,813,000	-3,813,181		-3,813,181					-3,813,181
deficit accumulated during development stage																																																																											-153,857,000		-153,857,000	-53,115,163		-53,115,163					-24,103,801
notes to the financial statements are included on pages 15 to 39.
accumulated losses																																																																												-157,670			-60,203,483		-39,464,960	-157,670		-27,916,982		-39,464,960	-19,986,071		-19,986,071
other payables, related party
other financial assets
short-term investments
accounts receivable — related party																																																																																			59,000					31,000
liabilities, redeemable convertible preferred stock and stockholders’ deficit
accrued expenses and other liabilities																																																																																			1,792,000					897,000
current portion of long-term debt																																																																																								200,000
advance from related party																																																																																								2,795,000
advance from related party, net of current portion
series a redeemable convertible preferred stock, 0.01 par value...																																																																																			29,677,000					28,027,000
stockholders’ deficit
deferred stock-based compensation																																																																																			-820,000					-692,000
accumulated other comprehensive loss																																																																																								-169,000
cash																																																																																				12,892,061			22,000,602		22,000,602
receivables																																																																																				709,418	709,418		246,437		246,437
other non-current assets																																																																																							16,587		16,587
payables																																																																																				2,017,820	1,967,718		1,431,127		1,431,127
parent entity interest
contributed equity																																																																																				107,883,835	107,883,835		107,883,836		107,883,836
total parent entity interest in equity																																																																																				79,987,614			88,436,160		88,436,160
total outside equity interest
cash assets																																																																																					12,892,061
payables, related party																																																																																					50,102
total parent entity interest																																																																																					79,987,614
plant and equipment																																																																																							1,756,367		1,756,367

Cashflow Statements:

Quarterly

Annual

Unit: USD	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	2018-09-30	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	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30

cash flows from operating activities:
net loss	-67,609,000	-59,732,000	-59,426,000	-45,195,000	-41,399,000	-29,361,000	-30,826,000	-29,284,000	-14,099,000	-12,612,000	-22,920,000	-21,164,000	-43,452,000	-18,420,000	-19,406,000	-20,976,000	-19,432,000	-16,695,000	-10,010,000	-12,280,000	-15,469,000	-3,801,000	-12,950,000	-13,174,000	-10,410,000	-15,647,000	-11,498,000	-19,238,000	-33,126,000	-34,428,000	-6,978,000	-5,782,000	-5,983,000		-5,140,000	-67,000	-7,162,000									-3,967,000	-2,187,000	-3,514,000	-3,687,000	-3,947,000	-2,794,000	-2,608,000	-2,551,000		-2,686,000	-17,460,000	-2,427,000		-2,685,000		-2,705,000			-534,000	-636,000	-870,000	-471,000	-63,579,000	-5,501,000	140,837,000	-147,427,000
adjustments to reconcile net loss to cash flows from operating activities:
depreciation of property and equipment	698,000	576,000	538,000	497,000			362,000	303,000	112,000	115,000	132,000	105,000	130,000	96,000	89,000	81,000	83,000	86,000	70,000	72,000	54,000	47,000	55,000	33,000	35,000	31,000	34,000	44,000	43,000	41,000	43,000	44,000	39,000	32,000	27,000	26,000	6,000	64,000	29,000	30,000	29,000	33,000	22,000	22,000	35,000	36,000	35,000	29,000	39,000	57,000	57,000	56,000	55,000	78,000	44,000	44,000	24,000	15,000	15,000	10,000	8,000	9,000	10,000	13,000	24,000	30,000	35,000
amortization of debt discount and premium and discount on available-for-sale marketable securities	-943,000	-951,000	-1,201,000	-1,733,000	-1,810,000	-1,876,000	-1,692,000	-575,000	-522,000	-39,000	-51,000	-244,000	-340,000	-214,000	-114,000	110,000
stock-based compensation	6,749,000	6,428,000	6,876,000	7,820,000	7,900,000	7,446,000	8,695,000	12,699,000	3,590,000	3,629,000	1,788,000	3,050,000	3,361,000	3,199,000	4,140,000	3,477,000	2,808,000	2,471,000	1,180,000	988,000	1,263,000	2,389,000	735,000	1,160,000	857,000	977,000	1,496,000	1,238,000
deferred income tax	369,000	0
changes in operating assets and liabilities:
accounts receivable and other current assets	-10,781,000	-3,134,000	-180,000	3,428,000	1,863,000	-939,000	3,092,000	-4,260,000	-269,000	10,748,000	-979,000	4,932,000	6,280,000	368,000	-6,373,000	-2,937,000	-5,981,000	1,321,000	-3,626,000	-2,317,000	2,352,000	-1,978,000	6,792,000	-2,320,000	-4,623,000	0	-8,635,000	-2,046,000	-529,000		-249,000	-55,000	129,000		-87,000	-52,000	8,000		-236,000	384,000	136,000		230,000	24,705,000	-25,323,000		319,000	1,154,000	-457,000		-432,000	163,000	147,000		-250,000	-168,000	206,000		-48,000		-231,000	201,000	100,000
other assets	-27,000	-24,000	-18,000	-44,000	-3,410,000
inventory	297,000	568,000	-549,000	176,000	502,000	865,000	584,000	-351,000	671,000	-315,000	-724,000	-1,185,000	-845,000	-277,000	82,000	280,000	580,000	810,000	205,000	-248,000	-1,697,000	132,000	-414,000	-1,221,000	421,000	-888,000	-785,000	-607,000
accounts payable and accrued expenses	6,231,000	-3,058,000	-3,470,000	4,974,000	8,133,000	-6,038,000	5,066,000	-1,430,000	728,000	-2,889,000	5,947,000	-2,267,000	-483,000	1,771,000	2,017,000	-2,107,000	3,446,000	3,676,000	3,152,000	-1,798,000	1,283,000	2,931,000	-398,000	-1,944,000	1,115,000	-345,000	1,233,000	2,593,000	756,000		-135,000	-525,000	-972,000		-283,000	99,000	-240,000		87,000	898,000	-350,000		-9,000	-5,000	235,000		475,000	-870,000	-438,000		501,000	286,000	-2,000		205,000	-357,000	-373,000		109,000		48,000	-214,000	-123,000		260,000	-343,000	-2,498,000		-4,224,000	-6,978,000	6,547,000
right-of-use assets and operating lease liabilities	-24,000	-19,000	64,000	479,000	407,000	672,000	15,000	524,000	-506,000	82,000	192,000	193,000	113,000	-34,000	25,000	-35,000	-34,000	80,000	-36,000	-38,000	117,000	-15,000	-27,000	-3,000	-1,000	3,000	9,000	35,000
deferred revenue	0	0	-5,115,000	-23,522,000	-8,592,000	-7,783,000	-5,474,000	-8,797,000	-12,897,000	-13,923,000	71,598,000	-255,000	-205,000	-240,000	-198,000	-225,000	-197,000	-313,000	-181,000	-240,000	16,261,000	300,000	-30,000	15,000	15,000	0	0	-30,000		-240,000	-265,000	495,000	-40,000	-206,000	120,000	-3,000	-8,000	128,000	-8,000	-9,000	-8,000	9,000	-34,000	-34,000	-35,000	23,000	-1,140,000	510,000	340,000	-103,000	164,000	-176,000	150,000	-195,000	-89,000	-181,000	-1,430,000	-558,000	-21,000	481,000	441,000	-2,472,000	-1,977,000	-2,264,000	-2,235,000	-1,561,000	-1,828,000	-1,842,000	18,953,000	-1,791,000	1,613,000
other noncurrent liabilities	-7,000	-8,000
net cash from operating activities	-65,047,000	-59,354,000	-62,589,000	-53,120,000	-35,849,000	-39,028,000	-20,178,000	-31,171,000	-23,109,000	-15,204,000	57,023,000	-16,835,000	-12,588,000	-13,136,000	-19,123,000	-20,158,000	-16,668,000	-7,787,000	-10,543,000	-15,099,000	5,895,000	1,136,000	-5,121,000	-16,345,000	-11,486,000	-14,772,000	-17,107,000	-13,334,000	-11,766,000	-6,081,000	-4,820,000	-5,038,000	-5,968,000	-4,452,000	-4,543,000	-5,009,000	-6,486,000	-4,347,000	-4,302,000	-3,174,000	-4,493,000	-3,006,000	-3,954,000	21,251,000	-3,994,000	-2,785,000	-1,852,000	-2,257,000	-3,777,000	-3,380,000	-1,962,000	-1,782,000	-1,621,000	-1,838,000	-2,143,000	-2,360,000	-2,660,000	1,245,000	-1,613,000	13,608,000	-1,461,000	-1,323,000	-925,000	-1,140,000	-1,853,000	-957,000	-4,486,000
capital expenditures	-986,000	-798,000	-1,220,000	-276,000	-384,000	-1,574,000	-900,000	-1,194,000	-883,000	-1,720,000	-396,000	-484,000	-585,000	-1,198,000	-218,000	-149,000	0	-131,000	0		-192,000	-128,000	-26,000	-16,000	-6,000	0	-25,000	-182,000	-109,000	-45,000	1,000	0	-64,000	-126,000	-16,000	0		-46,000	-31,000	-25,000	-11,000	-90,000	-43,000	-22,000	-6,000	-173,000	-54,000	-13,000	-8,000	-19,000	-13,000	-32,000	-4,000	-6,000	-19,000	-159,000	-221,000	-65,000	-9,000	0	0	0		-21,000	-18,000	-49,000	-107,000
free cash flows	-66,033,000	-60,152,000	-63,809,000	-53,396,000	-36,233,000	-40,602,000	-21,078,000	-32,365,000	-23,992,000	-16,924,000	56,627,000	-17,319,000	-13,173,000	-14,334,000	-19,341,000	-20,307,000	-16,668,000	-7,918,000	-10,543,000		5,703,000	1,008,000	-5,147,000	-16,361,000	-11,492,000	-14,772,000	-17,132,000	-13,516,000	-11,875,000	-6,126,000	-4,819,000	-5,038,000	-6,032,000	-4,578,000	-4,559,000	-5,009,000		-4,393,000	-4,333,000	-3,199,000	-4,504,000	-3,096,000	-3,997,000	21,229,000	-4,000,000	-2,958,000	-1,906,000	-2,270,000	-3,785,000	-3,399,000	-1,975,000	-1,814,000	-1,625,000	-1,844,000	-2,162,000	-2,519,000	-2,881,000	1,180,000	-1,622,000	13,608,000	-1,461,000	-1,323,000		-1,161,000	-1,871,000	-1,006,000	-4,593,000
cash flows from investing activities:
purchases of marketable securities	-148,835,000	-9,817,000	-53,944,000	-39,424,000	-164,078,000	-49,230,000			-49,265,000	0	-2,921,000	-2,930,000	-13,498,000	-33,530,000	-29,794,000	-62,293,000																		0	1,000	-3,000,000	-2,053,000	-7,275,000	-4,399,000	-3,308,000	-2,535,000	-1,545,000	-5,390,000	-3,036,000	-251,000	-250,000				0	-3,173,000	-1,786,000	-2,799,000	-3,154,000	-5,323,000	-3,184,000	-3,731,000	-5,030,000	-4,905,000
sales and maturities of marketable securities	75,000,000	66,000,000	103,500,000	79,225,000	68,500,000	67,000,000	25,500,000	22,000,000	3,000,000	0	16,784,000	35,500,000	47,000,000	41,000,000	30,000,000	6,000,000
purchases of property and equipment	-986,000	-798,000	-1,220,000	-276,000	-384,000	-1,574,000	-900,000	-1,194,000	-883,000	-1,720,000	-396,000	-484,000	-585,000	-1,198,000	-218,000	-149,000	0	-131,000			-192,000	-128,000	-26,000	-16,000	-6,000	0	-25,000	-182,000	-109,000	-45,000	1,000	0	-64,000	-126,000	-16,000			-46,000	-31,000	-25,000	-11,000	-90,000	-43,000	-22,000	-6,000	-173,000	-54,000	-13,000	-8,000	-19,000	-13,000	-32,000	-4,000	-6,000	-19,000	-159,000	-221,000	-65,000	-9,000					-21,000	-18,000	-49,000	-107,000	-139,000	-44,000	4,678,000	-4,767,000
proceeds from sale of property and equipment																																		0	0	0	33,000									2,000	4,000																								388,000
net cash from investing activities	-74,666,000	55,385,000	48,336,000	39,525,000	-95,962,000	16,196,000	-160,395,000	20,806,000	-47,148,000	-1,720,000	13,467,000	32,086,000	32,917,000	6,272,000	-12,000	-56,442,000	-32,965,000	-131,000			-192,000	-128,000	-26,000	-16,000	-6,000	0	-25,000	-182,000	-109,000	-1,753,000	-15,071,000	0	-64,000	2,374,000	3,335,000	2,388,000	5,480,000	-5,321,000	1,433,000	-28,000	-546,000	-885,000	-2,783,000	-3,058,000	-7,000	-421,000	-2,264,000	1,309,000	1,442,000	2,281,000	560,000	2,870,000	647,000	91,000	108,000	959,000	-552,000	-1,606,000	-2,555,000					-21,000	-18,000	-49,000	-107,000
cash flows from financing activities:
proceeds from issuance of stock	166,787,000				151,521,000				216,200,000																																																											0
payment of equity issue costs	-252,000	0	0	-291,000	-365,000	0	-218,000	-89,000
net settlement of stock units to satisfy statutory tax withholding	-18,000	-133,000	-19,000	-1,218,000	0	-78,000	-78,000	-4,356,000	0	0	0	-169,000	-24,000	0	-21,000	-250,000	-5,000	-5,000	-12,000	-128,000	0	0	-71,000	-19,000	-33,000	-41,000	-26,000	-20,000
proceeds from exercise of stock options and employee stock purchase plan	467,000	905,000	273,000	593,000					2,321,000													107,000	0	187,000
principal payments on finance lease obligations	-27,000	-27,000	-16,000	-35,000	-32,000				0	0	-18,000	-18,000	-34,000	-36,000	-34,000	-33,000	-44,000	-44,000	-40,000	-18,000	-14,000	-15,000	-13,000	-7,000
net cash from financing activities	166,957,000	7,403,000	238,000	-951,000	151,685,000	11,893,000	329,000	115,000	218,485,000	10,362,000	-36,658,000	-5,119,000	-58,000	92,000	-276,000	-448,000	108,516,000	-2,000	-381,000	108,769,000	10,480,000	4,904,000	1,662,000	20,446,000	1,945,000	2,371,000	17,914,000	11,634,000	28,863,000	30,266,000	23,361,000	6,081,000	963,000	6,099,000	2,395,000	0	9,000	122,000	16,530,000	329,000	9,000	0	0	179,000	56,000	-14,000	7,457,000	1,620,000	9,981,000	0	0	-66,000	4,735,000	0	0	0	114,000	-21,000		0
net increase in cash, cash equivalents and restricted cash	27,244,000	3,434,000	-14,015,000	-14,546,000	19,874,000	-10,939,000	-180,244,000	-10,250,000	148,228,000	-6,562,000	33,832,000	10,132,000	20,271,000	-6,772,000	-19,411,000	-77,048,000	58,883,000	-7,920,000	-10,949,000	93,670,000	16,183,000	5,912,000	-3,485,000	4,085,000	-9,546,000	-12,401,000	782,000	-1,882,000	16,988,000
cash, cash equivalents and restricted cash at beginning of period	0	0	0	99,854,000	0	0	0	281,413,000		0	0	95,783,000		0	0	178,743,000						0	0	22,364,000		0	0	45,411,000	38,926,000
cash, cash equivalents and restricted cash at end of period	27,244,000	3,434,000	-14,015,000	85,308,000	19,874,000	-10,939,000	-180,244,000	271,163,000		-6,562,000	33,832,000	105,915,000		-6,772,000	-19,411,000	101,695,000						5,912,000	-3,485,000	26,449,000		-12,401,000	782,000	43,529,000	55,914,000
reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets:
cash and cash equivalents	27,244,000	3,434,000	-14,015,000	85,158,000	19,874,000	-10,939,000	-180,244,000	271,013,000	148,228,000	-6,562,000	33,832,000	105,765,000
restricted cash	0	0	0	150,000	0	0	0	150,000	0	0	0	150,000
total cash, cash equivalents and restricted cash at end of period	27,244,000	3,434,000	-14,015,000	85,308,000	19,874,000	-10,939,000	-180,244,000	271,163,000		-6,562,000	33,832,000	105,915,000
supplemental disclosure of non-cash investing and financing activities:
lease liability arising from obtaining right-of-use assets	0	0	0	903,000	0	-112,000
stock issuance costs								218,000	306,000										-264,000	329,000				295,000																							-32,000	79,000	39,000				67,000															-2,000
reconciliation of cash, cash equivalents and restricted cash to the condensed consolidated balance sheets:
stock issuance costs in accounts payable and accrued expenses		20,000	0	20,000
property and equipment additions in accounts payable and accrued expenses			-53,000	96,000		-79,000	-315,000	535,000
provision for excess and obsolete inventory									0	0
loss on extinguishment of debt									0	0			0	0	0	1,559,000									0	0	0	3,810,000																																											23,361,000
payment of long-term debt									0	0			0	0	0	-38,235,000
payment of extinguishment of debt costs									0	0			0	0	0	-2,294,000									0	0	0	-2,716,000
borrowings under revolving facility									0	0	0	5,300,000	11,466,000	10,475,000	10,475,000	11,459,000
repayment under revolving facility									0	0	-5,295,000	-10,480,000	-11,466,000	-10,475,000	-10,475,000	-984,000
supplemental cash flow information:
cash interest paid									0	0	665,000	740,000	693,000	558,000	408,000	941,000	1,222,000	1,221,000	1,208,000	1,195,000	1,600,000	2,611,000	9,000	1,290,000	1,296,000	2,399,000	64,000	1,111,000	583,000
depreciation and amortization
proceeds from exercise of stock options						251,000	625,000	4,560,000			5,000	248,000	0	154,000	0	241,000	89,000	101,000	0	183,000					106,000	0	44,000	264,000									9,000				9,000				56,000
amortization of intangible assets													205,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	615,000	0	184,000	182,000	182,000	179,000	180,000	183,000	187,000	187,000	190,000	192,000	191,000	190,000	193,000	196,000	196,000	196,000	194,000	192,000	191,000	192,000	193,000	193,000	193,000	192,000	819,000	833,000	840,000	829,000	790,000	815,000	840,000	844,000	811,000	771,000	820,000	934,000	960,000	962,000	-20,387,000	22,351,000
impairment of intangible assets																																																						0	0																45,278,000
proceeds from issuance of long-term debt													0	0	0	30,000,000									0	0	15,000,000	35,000,000		5,000,000
payment of equity and debt issue costs									-36,000				0	-26,000	-221,000	-352,000
cash, cash equivalents and restricted cash at beginning of year																	0	0	0	45,059,000
cash, cash equivalents and restricted cash at end of year																	58,883,000	-7,920,000	-10,949,000	138,729,000
reconciliation of cash, cash equivalents and restricted cash
total cash, cash equivalents and restricted cash
accrued term loan exit fee													0	0	0	600,000									0	0	900,000	2,100,000		300,000
debt issue costs															-218,000	244,000												222,000
proceeds from issuance of stock and pre-funded warrants, net of issuance costs
payments forgiven under paycheck protection program loan																	0	0
principal portion of finance lease liabilities																				12,000				7,000
amortization of debt discount																	166,000	162,000	153,000	147,000	211,000	186,000	177,000	171,000	166,000	160,000	130,000	140,000	154,000
non-cash interest expense																					0	330,000	324,000	323,000	324,000	322,000	294,000	112,000																																								0	206,000	-456,000	757,000
provision for excess and obsolescence inventory
proceeds under paycheck protection program loan																					0	0
payment of long-term debt principal																									0	0	0	-20,000,000
effect of foreign exchange rate changes on cash and cash equivalents																														-2,000	0	0	4,000	6,000	-1,000	-2,000	-8,000	-8,000	-4,000	-5,000	-3,000	5,000	-7,000	-5,000	-5,000	-1,000	-5,000	1,000	1,000	0	-9,000	-1,000	2,000	-3,000	2,000	-2,000	-3,000	-2,000	6,000	4,000	-15,000	5,000	-11,000	41,000	41,000	-127,000	-34,000	2,000	-35,000	133,000	-144,000
gain on extinguishment of debt																		0
proceeds from issuance of stock, net of issuance costs																		-54,000	-329,000	108,732,000	25,116,000	4,812,000	-295,000	20,285,000	1,872,000	2,412,000				25,205,000	9,266,000	6,081,000	963,000					-10,000								-92,000	7,005,000	1,163,000	9,981,000	0	0	-66,000	4,735,000
supplemental disclosure of non-cash financing activities:
payment of debt issue costs																									0	0	-447,000	-894,000		-442,000
payment of contingent development milestone																									0	0
amortization of bond (discount) premium on marketable securities																																		0	-2,000	-2,000	-5,000
amortization of noncurrent portion of deferred revenue																																		-1,000	1,000
change in fair value of derivative liability																													18,886,000	23,953,000
deferred rent																													38,000	-7,000	-4,000	-5,000	-4,000	-4,000	-2,000	-1,000	-2,000	0	1,000	2,000	2,000	2,000	6,000	5,000	5,000	26,000
maturities of marketable securities																																		2,500,000	3,350,000	5,393,000	7,500,000	2,000,000	5,863,000	3,305,000	2,000,000	750,000	2,650,000	0	250,000	0	500,000	1,400,000	1,450,000	2,300,000	3,746,000	4,688,000	3,450,000	3,250,000	5,450,000	3,199,000	3,400,000	3,489,000	2,359,000
acquisition of icon bioscience inc., net of cash acquired																														-1,708,000
proceeds from exercise of warrants																													28,863,000
accrued development milestone																														0
fair value of second tranche purchase liability																														0
fair value of warrants issued with debt																														-5,000
fair value of second tranche warrants
accrued acquisition costs
stock-based compensation expense																													1,397,000		443,000	606,000	681,000		644,000	396,000	734,000		661,000	483,000	405,000		614,000	417,000	309,000		441,000	305,000	217,000		312,000	263,000	343,000		379,000	165,000	477,000		574,000		389,000	420,000	293,000				94,000	608,000
accounts and other receivables
prepaid expenses and other current assets
accounts payable
accrued expenses
supplemental disclosure of non-investing and financing activities:
amortization of bond discount on marketable securities
changes in current assets and liabilities:
exercise of stock options																																			90,000				20,000				0				452,000								0	0	114,000
net decrease in cash and cash equivalents																															3,470,000	1,043,000	-5,065,000			-2,623,000	-1,005,000				-5,033,000														-2,033,000	-1,403,000	-3,101,000		5,919,000		-1,158,000	-834,000	-936,000
cash and cash equivalents at beginning of period																															0	0	16,898,000		0	0	15,313,000		0	0	19,121,000		0	0	15,334,000		0	0	6,899,000		0	0	4,625,000		0	0	12,912,000		0		0	0	6,899,000		0	0	15,609,000		0	2,354,000	316,000
cash and cash equivalents at end of period																															3,470,000	1,043,000	11,833,000		1,186,000	-2,623,000	14,308,000		13,657,000	-2,878,000	14,088,000		-6,744,000	18,367,000	11,384,000		3,336,000	673,000	14,546,000		-1,411,000	1,021,000	8,388,000		-2,033,000	-1,403,000	9,811,000		5,919,000		-1,158,000	-834,000	5,963,000		-1,830,000	-1,133,000	10,982,000		8,392,000	-6,671,000	16,454,000
net income																																						-6,387,000	-5,041,000	-5,186,000	-4,933,000	-5,146,000	-4,998,000	-4,075,000	20,566,000																		-1,591,000
adjustments to reconcile net income to cash flows from operating activities:
net increase in cash and cash equivalents																																		4,027,000				-9,554,000	13,657,000			-3,886,000	-6,744,000	18,367,000	-3,950,000	-3,221,000	3,336,000	673,000	7,647,000	-1,099,000	-1,411,000	1,021,000	3,763,000											-1,120,000	-1,830,000	-1,133,000	-4,627,000
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
supplemental disclosure of cash flow information:
cash paid for income taxes																																						0				0																0		96,000
issuance of stock, net of issue costs
amortization of bond premium on marketable securities																																						1,000	18,000	34,000	34,000	32,000	25,000	23,000	18,000	19,000	2,000	7,000	17,000	29,000	38,000	41,000	44,000	41,000	62,000	76,000	85,000	85,000	38,000
gain on sale of property and equipment																																														-2,000	-4,000
change in restricted cash																																														0	0
purchase of property and equipment
change in fair value of derivatives																																																						0	0	-128,000	-42,000	-10,000	-334,000	-871,000	-226,000	-83,000	1,519,000	619,000	-22,000	-226,000	-1,330,000	-1,164,000	-1,172,000	12,139,000	-18,160,000
deferred income tax benefit																																																																-31,000				-296,000	-15,000	25,115,000	-25,339,000
proceeds from sales of marketable securities																																																						1,000	0
deferred tax benefit																																																							0	0	-13,000
supplemental disclosure of non-cash investing activities:
proceeds from exercise of stock options and warrants
loss on sale of equipment																																																																0
provision for losses on note receivable																																																																0	0	667,000	633,000
foreign currency translation gains upon dissolution of subsidiaries
exercise of warrants																																																													0
patents and licences
gross carrying amount at beginning of period
foreign currency translation adjustments
gross carrying amount at end of period
accumulated amortization at beginning of period
amortization expense
accumulated amortization at end of period
net book value at end of period
impairment of goodwill
provision for loss on note receivable
supplemental disclosure:
benefit from losses on note receivable
•
loss from discontinued operations
gain on sale of discontinued operations
loss from continuing operations
amortization of convertible note debt discount and issue costs																																																																							6,649,000
accounts, note and other receivables
net cash from operating activities of continuing operations
net cash from operating activities of discontinued operations
decrease in restricted cash
net cash from investing activities of continuing operations
net cash from investing activities of discontinued operations
proceeds from issuance of convertible notes																																																																							21,500,000
debt issuance costs																																																																							-1,894,000
repayment of convertible notes																																																																							-14,973,000
premium paid on extinguishment of debt																																																																							-3,034,000
proceeds from issuance of shares																																																																						-63,416,000	84,038,000
share issue costs																																																																						5,095,000	-7,330,000
share-based compensation expense																																																																						-2,796,000	2,882,000
accounts and note receivable and other current assets																																																																		312,000	-55,000		-865,000	2,486,000	-2,822,000
cash flows from financing activities																																																																					0	-63,299,000	81,686,000
in-process research and development																																																																							26,244,000
gain on sale of fixed assets
net cash paid for acquisition of businesses, net of cash acquired																																																																							-5,836,000
depreciation and amortization of property and equipment																																																																					65,000	-4,412,000	4,667,000
cash flows from operating activities																																																																					8,471,000	45,868,000	-57,042,000
cash flows from investing activities																																																																					-44,000	8,273,000	-8,362,000
net change in cash and cash equivalents																																																																					8,392,000	-9,025,000	16,138,000
gain on sale of subsidiary																																																																							-3,674,000
other																																																																							31,000
proceeds from sale of subsidiary																																																																							1,853,000
equity contribution from outside equity interest																																																																							3,379,000
receipts from customers
payments to suppliers, employees and consultants
interest received
income tax paid
research and development expenditure paid
other revenue received
interest paid
purchase of property, plant and equipment
proceeds from sale of property, plant and equipment
net cash received from sale of subsidiary
net cash paid for acquisition of subsidiary
net cash paid for increased interest in subsidiary
proceeds from issue of ordinary shares
payment of share issue and registration costs
proceeds from exercise of options and warrants
proceeds from borrowings
payment of borrowing costs
payment of note redemption costs and penalties
repayment of borrowings
cash and cash equivalents at the beginning of the financial year
effects of exchange rate changes on the balance of cash and cash equivalents held in foreign currencies
cash and cash equivalents at the end of the financial year
payments to suppliers, employees and
consultants
income received in advance
proceeds from sale of property, plant and
equipment
net cash paid for acquisition of business
and options
payment of share issue costs
payment of finance costs
net increase in cash and
cash equivalents
cash and cash equivalents at the
beginning of the period
effects of exchange rate changes on the
balance of cash and cash equivalents
held in foreign currencies
cash and cash equivalents at the end
of the period
notes to the financial statements are included on pages 15 to 39.
net (decrease) / increase in cash and
beginning of the half-year
of the half-year
net earnings
adjustments to reconcile net (loss) to net cash from operating activities
(gain)/loss on sale of assets
non-cash charges for asset impairment
depreciation
noncash charges for stock-based compensation
changes in operating assets and liabilities
purchases of short-term investments
sales and maturities of short-term investments
proceeds from sale of assets
proceeds from the issuance of long-term debt
repayments of long-term debt
proceeds from the sale of common stock
supplemental disclosure of cash flow information
cash paid for interest
cash paid for (refunds of) taxes
adjustments to reconcile net (loss) to net cash from (used in) operating activities
loss on sale of assets
payments to all suppliers, employees and consultants
research and development expenditure
other income
goods and services tax received from ato
net cash flows used in operating activities
additional equity contributions received by subsidiary
cash paid for equity increase in controlled entity
net cash held by subsidiary on acquisition
net cash flows from / (used in) investing activities
proceeds from issues of ordinary shares
net cash flows from financing activities
net increase/(decrease) in cash held
add opening cash brought forward
effects of exchange rate changes on cash
closing cash carried forward

EyePoint Pharmaceuticals, Inc(NASDAQ:EYPT)

EyePoint Pharmaceuticals, Inc
(NASDAQ:EYPT)