7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 
      
    		                   
      cash flows from operating activities
    		                   
      net income
    		-62,321,000 -55,247,000 -34,085,000 -29,457,000 -26,599,000 -26,352,000 -26,949,000 -23,579,000 -14,122,000 -15,947,000 -22,781,000 -21,229,000 -3,277,000 -7,090,000 -15,231,000 -17,823,000 -18,551,000 -16,447,000 -19,048,000 
      adjustments to reconcile net income to net cash from operations:
    		                   
      depreciation and amortization
    		87,000 85,000 20,000 9,000 11,000 110,000 26,000 25,000 25,000 25,000 25,000         
      stock-based compensation
    		9,514,000 8,420,000 6,363,000 4,334,000 4,332,000 4,091,000 4,058,000 1,927,000 1,270,000 1,309,000 1,024,000         
      amortization/accretion of investment securities
    		-1,739,000 -2,621,000 -2,527,000 -2,212,000                
      income from initial consolidation of variable interest entity
    		0                   
      non-cash lease expense
    		120,000 117,000 112,000                 
      non-cash interest expense
    		211,000 208,000 207,000          5,000 13,000 36,000 26,000 32,000 37,000 188,000 
      other non-cash items
    		  15,000 15,000 -48,000               
      changes in operating assets and liabilities:
    		                   
      prepaid expenses and other current assets
    		371,000 -681,000 -7,230,000 2,080,000 1,107,000 2,496,000 -4,112,000 -1,507,000 213,000 1,036,000 -908,000 29,000 1,542,000 211,000 -1,430,000 1,562,000 -826,000 -215,000 -3,057,000 
      accounts payable
    		918,000 -321,000 -1,277,000 4,395,000 -1,047,000 -669,000 -7,360,000 3,969,000 3,766,000 -726,000 -10,750,000 2,337,000 -478,000 -3,492,000 2,159,000 2,021,000 -501,000 -2,131,000 2,173,000 
      accrued external research and development expenses
    		242,000 42,000 280,000 -9,191,000 5,981,000               
      other accrued expenses
    		4,954,000 1,171,000 -3,689,000 2,328,000 1,483,000               
      operating lease liabilities
    		-156,000 72,000 435,000 -110,000 -121,000 -189,000 -75,000 34,000 52,000 -64,000 -76,000         
      net cash from operating activities
    		-47,799,000 -47,918,000 -41,376,000 -27,573,000 -17,361,000 -15,393,000 -33,599,000 -17,796,000 -7,476,000 -12,724,000 -35,466,000 -12,405,000 -4,011,000 -9,498,000 -16,338,000 -12,668,000 -16,097,000 -15,928,000 -15,007,000 
      capex
    		-26,000 -36,000 -851,000 -449,000 8,000 3,000 -67,000 6,000 -45,000 -12,000 -21,000 0 0 0 0 -10,000 0 0 0 
      free cash flows
    		-47,825,000 -47,954,000 -42,227,000 -28,022,000 -17,353,000 -15,390,000 -33,666,000 -17,790,000 -7,521,000 -12,736,000 -35,487,000 -12,405,000 -4,011,000 -9,498,000 -16,338,000 -12,678,000 -16,097,000 -15,928,000 -15,007,000 
      cash flows from investing activities
    		                   
      purchases of marketable securities
    		-85,436,000 -58,626,000 -347,250,000 -72,777,000 -94,098,000               
      maturities of marketable securities
    		135,000,000 110,351,000 75,468,000 71,800,000                
      purchases of property and equipment
    		-26,000 -36,000 -851,000 -449,000 8,000 3,000 -67,000 -3,000 -45,000 -12,000 -29,000         
      net cash from investing activities
    		49,538,000 51,689,000 -272,633,000 -1,426,000 -71,090,000 -219,749,000 -67,000 -3,000 -45,000 -12,000 -29,000     405,000    
      cash flows from financing activities
    		                   
      proceeds from sale of common stock in underwritten offering, net of issuance costs paid
    		0 0 234,003,000                 
      proceeds from sale of pre-funded warrants in underwritten offering, net of issuance costs paid
    		0 0 9,386,000                 
      proceeds from sale of common stock in at-the-market offerings, net of issuance costs paid
    		   0 0 -59,000 14,849,000    14,605,000         
      proceeds from stock option exercises
    		1,531,000 892,000 575,000 1,202,000 401,000 567,000 806,000 806,000 618,000 1,076,000 222,000         
      contributions from employee stock purchase plan
    		291,000 0 287,000 0 196,000 0 245,000             
      net cash from financing activities
    		11,588,000 892,000 244,251,000 28,797,000 426,000 173,191,000 15,900,000 7,758,000 460,000 153,855,000 77,306,000 154,344,000 -2,911,000 -1,230,000 -1,225,000 -1,179,000 -1,250,000 -1,581,000 195,490,000 
      net decrease in cash, cash equivalents and restricted cash
    		13,327,000 4,663,000 -69,758,000                 
      cash, cash equivalents and restricted cash, beginning of period
    		0 0 192,672,000 0 0 0 360,616,000 0 0 0 194,788,000         
      cash, cash equivalents and restricted cash, end of period
    		13,327,000 4,663,000 122,914,000 -202,000 -88,025,000 -61,951,000 342,850,000 -10,041,000 -7,061,000 141,119,000 236,599,000         
      supplemental cash flow information
    		                   
      cash paid for interest
    		709,000 709,000 698,000          35,000 36,000 47,000 59,000 104,000 84,000 60,000 
      supplemental disclosure of non-cash activities
    		                   
      deferred issuance costs related to underwritten offering included in accounts payable and accrued expenses
    		  225,000                 
      proceeds from issuance of long-term debt, net of issuance costs paid
    		                   
      payment of debt issuance costs
    		                   
      proceeds from sale of common stock in offerings, net of issuance costs paid
    		   0 -171,000   6,952,000 -100,000           
      proceeds from sale of pre-funded warrants in offerings, net of issuance costs paid
    		       0 -58,000           
      net increase in cash, cash equivalents and restricted cash
    		   -202,000 -88,025,000 -61,951,000 -17,766,000 -10,041,000 -7,061,000 141,119,000 41,811,000         
      change in fair value of contingent value right liability
    		        0           
      noncash lease expense
    		    36,000 146,000 142,000 110,000 46,000 50,000 84,000         
      cash paid for income taxes
    		    4,000   34,000            
      right-of-use assets obtained in exchange for new operating lease liabilities
    		       0 0           
      net increase in right-of-use assets related to lease modifications and reassessment events
    		                   
      net increase in operating lease liabilities related to lease modifications and reassessment events
    		                   
      deferred issuance costs on sale of common stock and pre-funded warrants in offerings included in accounts payable and accrued expenses
    		       10,000 -343,000           
      amortization/ accretion of investment securities
    		                   
      cash flow from investing activities
    		                   
      cash flow from financing activities
    		                   
      net decrease in right-of-use assets related to lease modifications and reassessment events
    		                   
      net decrease in operating lease liabilities due to lease modifications and reassessment events
    		                   
      receivable related to deferred issuance costs on sale of common stock and pre-funded warrants in offerings included in other current assets
    		                   
      accrued expenses
    		      671,000 2,725,000 1,274,000 93,000 -2,084,000         
      purchases of property and equipment included in accounts payable and accrued expenses
    		       9,000   8,000         
      receivable for proceeds from stock option exercises included in other current assets
    		          845,000         
      change in fair value of derivative liability
    		                   
      other assets
    		           25,000 6,000 13,000 20,000 -5,000 327,000 -334,000 -225,000 
      proceeds from the issuance of common stock in pre-closing financing
    		                   
      cash acquired in connection with the reverse recapitalization
    		                   
      payment of reverse recapitalization transaction costs
    		                   
      settlement of derivative liability upon issuance of common stock to roche
    		                   
      decrease in right-of-use assets related to lease modifications
    		                   
      decrease in operating lease liabilities due to lease modifications
    		                   
      decrease in right-of-use assets related to lease modification
    		                   
      decrease in operating lease liabilities due to lease modification
    		                   
      proceeds from sale of common stock in registered direct offering, net of issuance costs paid
    		          34,217,000         
      proceeds from sale of pre-funded warrants in registered direct offering, net of issuance costs paid
    		          28,262,000         
      deferred issuance costs on sale of common stock in registered direct offering included in accounts payable and accrued expenses
    		          69,000         
      deferred issuance costs on sale of pre-funded warrants in registered direct offering included in accounts payable and accrued expenses
    		          56,000         
      deferred issuance costs on sale of common stock in at-the-market offerings included in accounts payable and accrued expenses
    		          97,000         
      deferred issuance costs on equity financing included in accounts payable and accrued expenses
    		                   
      noncash license expense
    		                   
      proceeds from issuance of convertible preferred stock, net of issuance costs
    		                   
      deferred issuance costs on series b convertible preferred stock in accounts payable and accruals
    		                   
      deferred offering costs included in accounts payable and accruals at end of period
    		                   
      cash flows from operating activities:
    		                   
      adjustments to reconcile net income to net cash from operating activities:
    		                   
      depreciation expense
    		               46,000 58,000 62,000 65,000 
      stock-based compensation expense
    		            941,000 2,356,000 1,976,000 1,673,000 1,659,000 2,862,000 1,593,000 
      loss on conversion of convertible notes
    		               0 0 0 711,000 
      accretion of discount on convertible notes
    		               0 0 0 1,600,000 
      deferred offering or transaction costs
    		                   
      accrued expenses and other current liabilities
    		            -1,581,000 -1,509,000 -3,868,000 135,000 1,705,000 238,000 -348,000 
      cash flows from investing activities:
    		                   
      purchase of property and equipment
    		               -10,000    
      cash flows from financing activities:
    		                   
      proceeds from business combination
    		               0 0 -437,000 196,319,000 
      proceeds from exercise of stock options
    		            6,000 9,000 25,000 71,000 0 106,000 4,000 
      proceeds from sale of stock under employee stock purchase plan
    		            0       
      principal payments on term loan
    		            -2,917,000 -1,250,000 -1,250,000 -1,250,000 -1,250,000 -1,250,000 -833,000 
      increase in cash, cash equivalents and restricted cash
    		            -6,922,000 -10,728,000 -17,563,000 -13,442,000 -17,408,000 -17,509,000 180,483,000 
      cash, cash equivalents and restricted cash at beginning of period
    		            0 0 136,950,000  0 0 4,826,000 
      cash, cash equivalents and restricted cash at end of period
    		            -6,922,000 -10,728,000 119,387,000  -17,408,000 -17,509,000 185,309,000 
      supplemental disclosure
    		                   
      noncash financing activities
    		                   
      proceeds from exercise of stock options included in other current assets
    		               60,000    
      conversion of convertible notes to series b preferred stock
    		               0 0 0 14,515,000 
      exercise of warrants
    		               0 0 0 76,000 
      property and equipment purchases included in accounts payable and accrued expenses
    		                -52,000   
      deferred offering costs
    		               0 0 0 1,341,000 
      cash - fsdc trust account and cash
    		             0 121,782,000   0 121,782,000 
      cash - pipe financing
    		             0 95,060,000   0 95,060,000 
      less: equity issuance costs and other costs paid
    		             0 -20,960,000     
      net proceeds from the business combination
    		             0 195,882,000   0 195,882,000 
      unpaid issuance costs in accounts payable and accrued expenses and other current liabilities
    		                  437,000 
      gain on the sale of property and equipment
    		                   
      change in fair value of warrant liability
    		                   
      proceeds from the sale of property and equipment
    		                   
      proceeds from sale of series b convertible preferred stock
    		                   
      proceeds from convertible notes
    		                   
      cash, cash equivalents and restricted cash at beginning of year
    		                   
      cash, cash equivalents and restricted cash at end of year
    		                   
      noncash investing and financing activities
    		                   
      proceeds from the sale of property and equipment included in other current assets
    		                   
      discount on convertible notes
    		                   
      deferred offering costs included in accounts payable and accrued expenses and other current liabilities
    		                   
      less: equity issuance costs and other costs paid prior to june 30, 2021
    		                   
      less: underwriting fees and other issuance costs paid prior to march 31, 2021
    		                  -20,523,000 
      proceeds from business combination, net of issuance costs paid per the cash flows from financing activities
    		                  196,319,000 
      less: other issuance costs included in accounts payable and accrued expenses and other current liabilities
    		                  -437,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.