Monte Rosa Therapeutics Inc(NASDAQ:GLUE) 
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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 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
collaboration revenue | 4,210,000 | 2,781,000 | 12,768,000 | 23,194,000 | 84,929,000 | 60,647,000 | 9,216,000 | 4,695,000 | 1,064,000 | ||||||||||
operating expenses: | |||||||||||||||||||
research and development | 44,069,000 | 41,979,000 | 36,678,000 | 30,653,000 | 32,190,000 | 38,866,000 | 27,616,000 | 28,055,000 | 27,026,000 | 27,135,000 | 28,306,000 | 29,076,000 | 26,755,000 | 24,868,000 | 21,342,000 | 17,915,000 | 18,130,000 | 15,115,000 | 14,637,000 |
general and administrative | 10,175,000 | 10,517,000 | 9,065,000 | 8,095,000 | 8,703,000 | 8,777,000 | 8,127,000 | 9,282,000 | 8,985,000 | 7,728,000 | 8,662,000 | 8,145,000 | 7,504,000 | 7,621,000 | 7,020,000 | 6,387,000 | 5,257,000 | 4,753,000 | 3,486,000 |
total operating expenses | 54,244,000 | 52,496,000 | 45,743,000 | 38,748,000 | 40,893,000 | 47,643,000 | 35,743,000 | 37,337,000 | 36,011,000 | 34,863,000 | 36,968,000 | 37,221,000 | 34,259,000 | 32,489,000 | 28,362,000 | 24,302,000 | 23,387,000 | 19,868,000 | 18,123,000 |
income from operations | -50,034,000 | -49,715,000 | -32,975,000 | -15,554,000 | 44,036,000 | 13,004,000 | -26,527,000 | -32,642,000 | -34,947,000 | -34,863,000 | -36,968,000 | -37,221,000 | -34,259,000 | -32,489,000 | -28,362,000 | -24,302,000 | -23,387,000 | -19,868,000 | -18,123,000 |
yoy | -213.62% | -482.31% | 24.31% | -52.35% | -226.01% | -137.30% | -28.24% | -12.30% | 2.01% | 7.31% | 30.34% | 53.16% | 46.49% | 63.52% | 56.50% | ||||
qoq | 0.64% | 50.77% | 112.00% | -135.32% | 238.63% | -149.02% | -18.73% | -6.60% | 0.24% | -5.69% | -0.68% | 8.65% | 5.45% | 14.55% | 16.71% | 3.91% | 17.71% | 9.63% | |
other income: | |||||||||||||||||||
interest income | 5,591,000 | 3,689,000 | 2,746,000 | 3,068,000 | 3,439,000 | 2,595,000 | 2,892,000 | 2,637,000 | 2,442,000 | 2,368,000 | 2,227,000 | 2,302,000 | 2,437,000 | 1,990,000 | 997,000 | 13,000 | 13,000 | 14,000 | |
foreign currency exchange gain | -8,000 | -50,000 | -29,000 | 1,390,000 | 173,000 | 2,000 | -153,000 | -53,000 | 620,000 | -779,000 | 27,000 | -93,000 | -85,000 | -283,000 | 63,000 | 96,000 | -24,000 | 18,000 | -296,000 |
gain on disposal of property and equipment | 14,750 | ||||||||||||||||||
total other income | 5,583,000 | 3,639,000 | 2,717,000 | 4,458,000 | 3,671,000 | 2,597,000 | 2,739,000 | 2,584,000 | 3,062,000 | 1,589,000 | 2,254,000 | 2,233,000 | 2,221,000 | 1,707,000 | 1,044,000 | 370,000 | -255,750 | 31,000 | -282,000 |
net income before income taxes | -44,451,000 | 1,588,250 | -30,258,000 | -11,096,000 | 47,707,000 | ||||||||||||||
income tax provision | -52,000 | ||||||||||||||||||
net income | -44,503,000 | -46,135,000 | -27,081,000 | -12,295,000 | 46,885,000 | 13,437,000 | -23,859,000 | -30,310,000 | -31,968,000 | -33,252,000 | -34,884,000 | -35,178,000 | -32,038,000 | -30,782,000 | -27,318,000 | -23,932,000 | -23,440,000 | -19,837,000 | -18,405,000 |
yoy | -194.92% | -443.34% | 13.50% | -59.44% | -246.66% | -140.41% | -31.60% | -13.84% | -0.22% | 8.02% | 27.70% | 46.99% | 36.68% | 55.17% | 48.43% | ||||
qoq | -3.54% | 70.36% | 120.26% | -126.22% | 248.92% | -156.32% | -21.28% | -5.19% | -3.86% | -4.68% | -0.84% | 9.80% | 4.08% | 12.68% | 14.15% | 2.10% | 18.16% | 7.78% | |
comprehensive loss: | |||||||||||||||||||
provision for pension benefit obligation | 55,000 | -154,518 | 53,000 | 53,000 | 48,000 | -909 | 37 | 35 | 35 | -1,411 | 14 | 14 | 14 | 619 | 32 | 34,000 | -71,000 | -535,000 | -495,000 |
unrealized loss on available-for-sale securities | -974,000 | -97,000 | -21,000 | 231 | -176 | -146,000 | |||||||||||||
comprehensive income | -45,422,000 | 1,904,500 | -26,955,000 | -12,339,000 | 46,912,000 | ||||||||||||||
earnings per share: | |||||||||||||||||||
basic | -0.45 | 0.023 | -0.33 | -0.15 | 0.57 | ||||||||||||||
diluted | -0.45 | 0.023 | -0.33 | -0.15 | 0.57 | ||||||||||||||
weighted-average number of shares outstanding: | |||||||||||||||||||
basic | 99,883,878 | 82,397,753 | 82,186,768 | 82,148,719 | |||||||||||||||
diluted | 99,883,878 | 82,397,753 | 82,186,768 | 82,956,423 | |||||||||||||||
income tax benefit | -59,000 | 3,177,000 | |||||||||||||||||
comprehensive income: | |||||||||||||||||||
unrealized gain on available-for-sale securities | 45,047 | 73,000 | -125 | 311 | -12 | -4 | 142 | 171 | -261 | 345 | |||||||||
provision for income taxes | -1,199,000 | -822,000 | -2,164,000 | -71,000 | -252,000 | -83,000 | 22,000 | -170,000 | -190,000 | ||||||||||
gain on disposal of fixed assets | 59,000 | 24,000 | -16,000 | 125,000 | |||||||||||||||
loss on sale of marketable securities | -131,000 | ||||||||||||||||||
net loss before income taxes | 15,601,000 | -23,788,000 | -30,058,000 | -31,885,000 | -33,274,000 | -34,714,000 | -34,988,000 | ||||||||||||
net income per share | 0.23 | -0.29 | -0.43 | -0.53 | -0.57 | -0.7 | -0.71 | -0.65 | -0.63 | -0.58 | -0.51 | -0.11 | -0.43 | -3.63 | |||||
weighted-average number of shares outstanding used in computing net loss per common share—basic and diluted | 83,071,185 | 73,910,026 | 82,011,670 | 71,233,992 | 60,156,187 | 51,396,961 | 49,814,903 | 49,431,922 | 49,347,473 | 47,227,370 | 46,732,353 | 46,595,782 | 25,000,124 | 45,987,866 | 5,070,554 | ||||
other comprehensive income: | |||||||||||||||||||
comprehensive loss | 12,403 | -23,511 | -30,287 | -31,937 | -34,521 | -34,699 | -35,425 | -31,679 | -29,932 | -27,462 | -24,044,000 | -23,511,000 | -20,372,000 | -18,900,000 | |||||
changes in fair value of preferred stock tranche obligations | |||||||||||||||||||
other comprehensive loss: | |||||||||||||||||||
interest and other income | 149,000 | ||||||||||||||||||
net loss attributable to common stockholders | -23,932,000 | ||||||||||||||||||
reconciliation of net loss to net loss attributable to common stockholders |
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 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||
current assets: | |||||||||||||||||||
cash and cash equivalents | 159,859,000 | 129,883,000 | 208,343,000 | 69,429,000 | 78,530,000 | 224,254,000 | 125,575,000 | 108,847,000 | 99,752,000 | 128,101,000 | 59,055,000 | 47,027,000 | 51,847,000 | 54,912,000 | 112,394,000 | 138,305,000 | 346,071,000 | 367,034,000 | 357,060,000 |
marketable securities | 506,361,000 | 247,221,000 | 182,915,000 | 221,165,000 | 247,544,000 | 147,895,000 | 116,611,000 | 153,358,000 | 93,140,000 | 104,312,000 | 119,422,000 | 156,039,000 | 179,887,000 | 207,914,000 | 159,755,000 | 178,858,000 | |||
collaboration receivable | 7,000,000 | ||||||||||||||||||
other receivables | 4,609,000 | 4,600,000 | 4,965,000 | 2,370,000 | 1,408,000 | 173,000 | 595,000 | 842,000 | 601,000 | 505,000 | 294,000 | 1,154,000 | 2,170,000 | 7,656,000 | 4,050,000 | ||||
prepaid expenses and other current assets | 6,718,000 | 4,481,000 | 5,594,000 | 6,501,000 | 4,798,000 | 5,118,000 | 8,426,000 | 5,849,000 | 5,543,000 | 3,294,000 | 4,140,000 | 3,884,000 | 5,692,000 | 4,444,000 | 4,569,000 | 3,203,000 | 2,595,000 | 3,485,000 | 1,229,000 |
total current assets | 677,547,000 | 393,185,000 | 401,817,000 | 299,465,000 | 332,280,000 | 377,440,000 | 251,207,000 | 277,896,000 | 199,036,000 | 236,212,000 | 182,911,000 | 208,104,000 | 240,556,000 | 275,886,000 | 295,235,000 | 320,366,000 | 348,666,000 | 370,519,000 | 358,289,000 |
property and equipment | 28,409,000 | 25,986,000 | 27,598,000 | 29,052,000 | 29,336,000 | 29,483,000 | 31,442,000 | 33,250,000 | 34,036,000 | 33,803,000 | 34,992,000 | 35,335,000 | 33,266,000 | 27,075,000 | 19,384,000 | 13,396,000 | 12,325,000 | 11,801,000 | 8,923,000 |
operating lease right-of-use assets | 24,693,000 | 24,386,000 | 25,065,000 | 25,674,000 | 26,263,000 | 26,831,000 | 27,364,000 | 27,893,000 | 28,422,000 | 28,808,000 | 29,408,000 | 30,359,000 | 30,534,000 | 34,832,000 | 38,534,000 | 6,910,000 | |||
restricted cash | 4,947,000 | 4,954,000 | 4,950,000 | 4,950,000 | 4,880,000 | 4,863,000 | 4,908,000 | 4,866,000 | 4,863,000 | 5,333,000 | 5,338,000 | 1,729,000 | 1,729,000 | ||||||
other long-term assets | 832,000 | 148,000 | 411,000 | 445,000 | 440,000 | 115,000 | 159,000 | 209,000 | 389,000 | 352,000 | 270,000 | 291,000 | 351,000 | 278,000 | 148,000 | ||||
total assets | 736,428,000 | 448,659,000 | 459,841,000 | 359,586,000 | 393,199,000 | 438,732,000 | 315,080,000 | 344,114,000 | 266,746,000 | 303,755,000 | 252,103,000 | 278,616,000 | 309,028,000 | 342,389,000 | 357,603,000 | 346,005,000 | 366,329,000 | 384,049,000 | 368,941,000 |
liabilities and stockholders’ equity | |||||||||||||||||||
current liabilities: | |||||||||||||||||||
accounts payable | 7,900,000 | 3,550,000 | 14,509,000 | 5,581,000 | 6,489,000 | 17,215,000 | 3,978,000 | 6,473,000 | 6,828,000 | 11,152,000 | 5,500,000 | 5,308,000 | 7,382,000 | 7,862,000 | 9,753,000 | 4,511,000 | 6,558,000 | 3,530,000 | 7,463,000 |
accrued expenses and other current liabilities | 25,594,000 | 26,694,000 | 17,902,000 | 13,767,000 | 16,287,000 | 18,785,000 | 15,099,000 | 12,759,000 | 10,713,000 | 14,600,000 | 14,228,000 | 11,114,000 | 10,243,000 | 14,580,000 | 8,972,000 | 6,455,000 | 10,080,000 | 9,213,000 | 3,328,000 |
current deferred revenue | 33,059,000 | 29,571,000 | 24,791,000 | 18,410,000 | 32,575,000 | 117,232,000 | 18,918,000 | 19,645,000 | 20,407,000 | 17,678,000 | |||||||||
current portion of operating lease liability | 4,483,000 | 4,397,000 | 4,241,000 | 4,094,000 | 3,865,000 | 3,714,000 | 3,646,000 | 3,471,000 | 3,345,000 | 3,162,000 | 2,881,000 | 2,667,000 | 2,890,000 | 3,127,000 | 3,065,000 | 1,524,000 | |||
total current liabilities | 71,036,000 | 64,212,000 | 61,443,000 | 41,852,000 | 59,216,000 | 156,946,000 | 41,641,000 | 42,348,000 | 41,293,000 | 46,592,000 | 22,609,000 | 19,089,000 | 20,515,000 | 25,569,000 | 21,790,000 | 12,490,000 | 16,638,000 | 12,743,000 | 10,791,000 |
deferred revenue, net of current | 103,635,000 | 111,332,000 | 111,894,000 | 8,059,000 | 16,863,000 | 16,147,000 | 25,107,000 | 33,596,000 | 28,529,000 | 32,323,000 | |||||||||
defined benefit plan liability | 5,260,000 | 5,265,000 | 4,740,000 | 4,558,000 | 3,961,000 | 3,702,000 | 2,823,000 | 2,614,000 | 2,568,000 | 2,713,000 | 1,453,000 | 1,505,000 | 1,512,000 | 1,533,000 | 2,128,000 | 2,183,000 | 2,176,000 | 2,001,000 | 1,472,000 |
operating lease liability, net of current | 34,581,000 | 34,794,000 | 35,927,000 | 37,037,000 | 37,999,000 | 39,001,000 | 40,052,000 | ||||||||||||
total liabilities | 214,512,000 | 215,603,000 | 214,004,000 | 91,506,000 | 118,039,000 | 215,796,000 | 109,623,000 | 119,443,000 | 114,227,000 | 124,505,000 | 67,579,000 | 64,962,000 | 65,302,000 | 70,976,000 | 66,511,000 | 20,130,000 | 18,814,000 | 14,744,000 | 12,263,000 |
commitments and contingencies | |||||||||||||||||||
stockholders’ equity | |||||||||||||||||||
preferred stock, 0.0001 par value... | |||||||||||||||||||
common stock, 0.0001 par value... | 8,000 | 7,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 6,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 4,000 |
additional paid-in capital | 1,048,371,000 | 714,090,000 | 680,157,000 | 675,445,000 | 670,186,000 | 664,874,000 | 659,798,000 | 655,501,000 | 553,063,000 | 547,857,000 | 518,610,000 | 513,041,000 | 507,688,000 | 503,696,000 | 493,443,000 | 473,970,000 | 471,566,000 | 469,845,000 | 436,847,000 |
accumulated other comprehensive loss | -4,746,000 | -3,827,000 | -3,247,000 | -3,373,000 | -3,329,000 | -3,356,000 | -2,322,000 | -2,670,000 | -2,693,000 | -2,724,000 | -1,455,000 | -1,640,000 | -1,393,000 | -1,752,000 | -2,602,000 | -2,133,000 | -2,021,000 | -1,950,000 | -1,415,000 |
accumulated deficit | -521,717,000 | -477,214,000 | -431,079,000 | -403,998,000 | -391,703,000 | -438,588,000 | -452,025,000 | -428,166,000 | -397,856,000 | -365,888,000 | -332,636,000 | -297,752,000 | -262,574,000 | -230,536,000 | -199,754,000 | -145,967,000 | -122,035,000 | -98,595,000 | -78,758,000 |
total stockholders’ equity | 521,916,000 | 233,056,000 | 245,837,000 | 268,080,000 | 275,160,000 | 222,936,000 | 205,457,000 | 224,671,000 | 152,519,000 | 179,250,000 | 184,524,000 | 213,654,000 | 243,726,000 | 271,413,000 | 291,092,000 | 325,875,000 | 347,515,000 | 369,305,000 | 356,678,000 |
total liabilities and stockholders’ equity | 736,428,000 | 448,659,000 | 459,841,000 | 359,586,000 | 393,199,000 | 438,732,000 | 315,080,000 | 344,114,000 | 266,746,000 | 303,755,000 | 252,103,000 | 278,616,000 | 309,028,000 | 342,389,000 | 357,603,000 | 346,005,000 | |||
accounts receivable | 9,000,000 | ||||||||||||||||||
operating lease liability | 40,885,000 | 41,837,000 | 42,877,000 | 43,517,000 | 44,368,000 | 43,275,000 | 43,874,000 | 42,593,000 | 5,457,000 | ||||||||||
current restricted cash | 960,000 | 960,000 | 960,000 | ||||||||||||||||
restricted cash, net of current | 4,580,000 | 4,522,000 | 4,527,000 | 4,321,000 | 4,318,000 | 4,302,000 | |||||||||||||
proceeds receivable from common stock sale | 13,507,000 | ||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ equity | |||||||||||||||||||
preferred stock tranche obligations | |||||||||||||||||||
convertible preferred stock, 0.0001 par value... | |||||||||||||||||||
total liabilities, convertible preferred stock and stockholders’ equity | 366,329,000 | 384,049,000 | 368,941,000 | ||||||||||||||||
liabilities, convertible preferred stock and stockholders’ deficit |
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 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||
net loss | -44,503,000 | 13,437,000 | -23,859,000 | -30,310,000 | -31,968,000 | -33,252,000 | -34,884,000 | -35,178,000 | -32,038,000 | -30,782,000 | -23,932,000 | -23,440,000 | -19,837,000 | ||||
adjustments to reconcile net loss to net cash from operating activities | |||||||||||||||||
stock-based compensation expense | 5,949,000 | 4,309,000 | 4,364,000 | 4,894,000 | 5,298,000 | 4,469,000 | 4,282,000 | 4,502,000 | 4,873,000 | 4,074,000 | 4,468,000 | 4,153,000 | 3,974,000 | 3,326,000 | 2,251,000 | 1,856,000 | 2,073,000 |
depreciation | 2,029,000 | 2,088,000 | 2,095,000 | 2,125,000 | 2,048,000 | 2,061,000 | 2,103,000 | 2,060,000 | 1,897,000 | 1,846,000 | 1,834,000 | 1,391,000 | 1,151,000 | 1,070,000 | 753,000 | 809,000 | 582,000 |
net accretion of discounts/premiums on marketable securities | -985,000 | 87,000 | -466,000 | -737,000 | -1,029,000 | -696,000 | -1,089,000 | -1,094,000 | -69,000 | -737,000 | -497,000 | -1,414,000 | -1,266,000 | -1,260,000 | -45,000 | ||
gain on disposal of property and equipment | 0 | 0 | 0 | -59,000 | 0 | 0 | -125,000 | ||||||||||
changes in operating assets and liabilities | |||||||||||||||||
collaboration receivable | 7,000,000 | ||||||||||||||||
other receivables | -9,000 | 365,000 | -2,596,000 | -961,000 | -1,235,000 | 422,000 | 247,000 | -327,000 | -10,000 | -336,000 | 375,000 | -195,000 | 2,053,000 | -10,000 | |||
prepaid expenses and other assets | -2,921,000 | 1,376,000 | |||||||||||||||
accounts payable | 4,377,000 | -10,612,000 | 8,880,000 | -1,102,000 | -10,874,000 | 13,308,000 | -2,380,000 | 394,000 | -5,070,000 | 5,768,000 | 686,000 | -1,002,000 | 306,000 | 155,000 | -2,184,000 | 4,740,000 | -4,251,000 |
accrued expenses and other current liabilities | -3,712,000 | 8,735,000 | 4,194,000 | -2,471,000 | -2,606,000 | 3,697,000 | 2,329,000 | 2,044,000 | -3,886,000 | 1,289,000 | 2,788,000 | 2,765,000 | -3,285,000 | 2,072,000 | -3,559,000 | -139,000 | 5,882,000 |
defined benefit plan liability | 49,000 | -147,000 | 235,000 | 650,000 | 307,000 | -30,000 | 246,000 | 81,000 | -110,000 | -149,000 | -7,000 | 24,000 | 41,000 | ||||
right-of-use assets and operating lease liabilities | -434,000 | -298,000 | -354,000 | -144,000 | -283,000 | -451,000 | -129,000 | -297,000 | -471,000 | 366,000 | 798,000 | 2,306,000 | 6,895,000 | -163,000 | |||
deferred revenue | -4,209,000 | 4,218,000 | 110,216,000 | -22,970,000 | -83,940,000 | 89,353,000 | -9,216,000 | 4,305,000 | -1,064,000 | ||||||||
net cash from operating activities | -37,369,000 | -43,014,000 | 100,428,000 | -34,720,000 | -45,492,000 | 128,922,000 | -20,994,000 | -27,767,000 | -38,165,000 | 29,634,000 | -24,706,000 | -25,324,000 | -23,406,000 | -23,961,000 | -27,404,000 | -14,172,000 | -17,794,000 |
capital expenditures | 868,000 | -1,057,000 | -662,000 | -1,549,000 | -1,283,000 | -264,000 | -503,000 | -2,770,000 | -401,000 | -2,722,000 | -1,827,000 | -9,476,000 | -4,779,000 | -5,781,000 | -893,000 | -4,312,000 | 31,000 |
free cash flows | -36,501,000 | -44,071,000 | 99,766,000 | -36,269,000 | -46,775,000 | 128,658,000 | -21,497,000 | -30,537,000 | -38,566,000 | 26,912,000 | -26,533,000 | -34,800,000 | -28,185,000 | -29,742,000 | -28,297,000 | -18,484,000 | -17,763,000 |
cash flows from investing activities: | |||||||||||||||||
purchases of property and equipment | -1,868,000 | -767,000 | -651,000 | -1,695,000 | -1,587,000 | -183,000 | -399,000 | -2,022,000 | -1,384,000 | -1,689,000 | -1,659,000 | -6,512,000 | -9,181,000 | -7,271,000 | -1,687,000 | -3,059,000 | -1,755,000 |
purchases of marketable securities | -331,997,000 | -153,659,000 | -65,969,000 | -19,033,000 | -138,014,000 | -67,961,000 | -32,373,000 | -73,959,000 | -56,068,000 | -27,514,000 | -7,813,000 | 0 | -67,824,000 | -94,368,000 | -178,958,000 | ||
proceeds from maturities of marketable securities | 72,868,000 | 89,360,000 | 104,758,000 | 46,052,000 | 39,372,000 | 37,248,000 | 70,521,000 | 14,823,000 | 67,305,000 | 43,500,000 | 45,100,000 | 25,000,000 | 51,700,000 | 47,700,000 | |||
net cash from investing activities | -260,997,000 | -65,066,000 | 38,138,000 | 25,324,000 | -100,229,000 | -30,896,000 | 37,749,000 | -61,158,000 | 9,853,000 | 14,297,000 | 35,628,000 | 18,550,000 | 20,326,000 | -53,939,000 | -180,520,000 | -3,047,000 | -1,688,000 |
cash flows from financing activities: | |||||||||||||||||
proceeds from exercise of employee stock options | 4,522,000 | 5,361,000 | 348,000 | 0 | 14,000 | 379,000 | 15,000 | 421,000 | 246,000 | 14,000 | 1,101,000 | 897,000 | 18,000 | 111,000 | 153,000 | 21,000 | 0 |
proceeds from underwritten public offering, net of underwriter's commission of 20,700 | 324,300,000 | ||||||||||||||||
payment of offering costs | -487,000 | ||||||||||||||||
net cash from financing activities | 328,335,000 | 29,624,000 | 348,000 | 365,000 | 14,000 | 608,000 | 15,000 | 98,023,000 | 246,000 | 25,173,000 | 1,101,000 | 1,200,000 | 18,000 | 20,434,000 | 153,000 | -135,000 | 29,456,000 |
net increase in cash, cash equivalents and restricted cash | 29,969,000 | 98,634,000 | -57,466,000 | -207,771,000 | -17,354,000 | 9,974,000 | |||||||||||
cash, cash equivalents and restricted cash—beginning of period | 134,837,000 | 0 | 0 | 0 | 229,117,000 | 0 | 0 | 0 | 132,681,000 | 0 | 0 | 0 | 60,190,000 | 0 | 351,409,000 | 0 | |
cash, cash equivalents and restricted cash—end of period | 164,806,000 | -78,456,000 | 138,914,000 | -9,031,000 | 83,410,000 | 98,634,000 | 16,770,000 | 9,098,000 | 104,615,000 | 69,104,000 | 12,023,000 | -5,574,000 | 57,128,000 | -57,466,000 | 143,638,000 | 9,974,000 | |
reconciliation of cash, cash equivalents and restricted cash | |||||||||||||||||
cash and cash equivalents | 159,859,000 | -78,460,000 | 138,914,000 | -9,101,000 | 78,530,000 | 98,679,000 | 16,728,000 | 9,095,000 | 99,752,000 | 69,046,000 | 12,028,000 | -4,820,000 | 51,847,000 | -57,482,000 | 138,305,000 | -20,963,000 | 9,974,000 |
restricted cash | 4,947,000 | 4,000 | 0 | 70,000 | 4,880,000 | -45,000 | 42,000 | 3,000 | 4,863,000 | 58,000 | -5,000 | -754,000 | 5,281,000 | 16,000 | 5,333,000 | 3,609,000 | 0 |
total cash, cash equivalents and restricted cash | 164,806,000 | -78,456,000 | 138,914,000 | -9,031,000 | 83,410,000 | 98,634,000 | 16,770,000 | 9,098,000 | 104,615,000 | 69,104,000 | 12,023,000 | -5,574,000 | 57,128,000 | -57,466,000 | 143,638,000 | -17,354,000 | 9,974,000 |
supplemental disclosure of noncash items | |||||||||||||||||
purchases of property and equipment in accounts payable and accrued expenses | 2,736,000 | -290,000 | -11,000 | 146,000 | 304,000 | -81,000 | -104,000 | -748,000 | 983,000 | -1,033,000 | -168,000 | -2,964,000 | 4,402,000 | 1,490,000 | |||
proceeds from sale of common stock pursuant to the at-the-market sales agreement, net of underwriter's discount | |||||||||||||||||
proceeds from underwritten public offering, net of underwriter's discount of 3,000 | |||||||||||||||||
proceeds from the issuance of pre-funded warrants | 0 | 0 | |||||||||||||||
payment of common stock and pre-funded warrant issuance costs | 0 | 0 | |||||||||||||||
proceeds from employee stock purchase plan | 370,000 | 0 | 229,000 | 0 | 275,000 | 0 | |||||||||||
net income | -27,081,000 | -12,295,000 | 46,885,000 | ||||||||||||||
proceeds from sale of common stock pursuant to the at-the-market sales agreement, net of underwriter's discount of 29 | 0 | ||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | 138,914,000 | -9,031,000 | -145,707,000 | 9,098,000 | -28,066,000 | 69,104,000 | 12,023,000 | -5,574,000 | -3,062,000 | ||||||||
accounts receivable | |||||||||||||||||
prepaid expenses and other current assets | -1,709,000 | -4,000 | 3,352,000 | -2,528,000 | -125,000 | -2,287,000 | 765,000 | -235,000 | 1,867,000 | -1,320,000 | -5,000 | -608,000 | 889,000 | -2,256,000 | |||
loss on sale of marketable securities | 0 | 0 | 0 | 131,000 | |||||||||||||
proceeds from the sale of property and equipment | |||||||||||||||||
proceeds from sale of marketable securities | 0 | 0 | 0 | 45,631,000 | |||||||||||||
proceeds from underwritten public offering cost, net of underwriter's discount of 3,000 | 0 | 0 | |||||||||||||||
reduction of right-of-use assets for lease incentives receivable | 125,000 | 484,000 | 1,211,000 | 3,433,000 | 3,597,000 | ||||||||||||
noncash lease expense | 1,612,000 | 379,000 | |||||||||||||||
proceeds from sale of property and equipment | 0 | 0 | 0 | 125,000 | 12,000 | ||||||||||||
proceeds from issuance of common stock, net of underwriting discount of 620 | |||||||||||||||||
proceeds from issuance of pre-funded warrants | |||||||||||||||||
payment of common stock issuance costs | -68,000 | ||||||||||||||||
payment of pre-funded warrant issuance costs | |||||||||||||||||
common stock issuance costs in accounts payable and accrued expenses | |||||||||||||||||
proceeds receivable from issuance of common stock | |||||||||||||||||
changes in fair value of preferred stock tranche obligations | 0 | 0 | |||||||||||||||
loss on disposal of property and equipment | 4,000 | ||||||||||||||||
proceeds from issuance of convertible preferred stock | 0 | 0 | |||||||||||||||
payment of convertible preferred stock issuance costs | 0 | 0 | |||||||||||||||
proceeds from initial public offering, net of underwriting discount of 17,895 | |||||||||||||||||
issuance of common stock, net of underwriting discount of 620 | |||||||||||||||||
payment of initial public offering issuance costs | -156,000 | -1,555,000 | |||||||||||||||
conversion of convertible preferred stock into common stock | 0 | 0 | |||||||||||||||
settlement of preferred stock tranche obligation | 0 | 0 | |||||||||||||||
proceeds from initial public offering, net of underwriting discount of 17.9 million | |||||||||||||||||
operating lease liability | -375,000 | ||||||||||||||||
purchases of property and equipment in accounts payable | 794,000 | -1,253,000 | 1,786,000 | ||||||||||||||
cash, cash equivalents and restricted cash—beginning of year | |||||||||||||||||
cash, cash equivalents and restricted cash—end of year | |||||||||||||||||
conversion of convertible note payable and accrued interest into series a convertible preferred stock | |||||||||||||||||
proceeds from initial public offering, net of underwriting discount of 15.6 million | |||||||||||||||||
common stock issuance costs in accounts payable |