Quarterly
Annual
| Unit: USD | 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 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | ||||||||||||||||||||||||||||||||||||
collaboration revenue | 20,750,000 | 15,288,000 | 14,108,000 | |||||||||||||||||||||||||||||||||
total revenue | 20,750,000 | 15,288,000 | 14,108,000 | |||||||||||||||||||||||||||||||||
operating expenses | ||||||||||||||||||||||||||||||||||||
research and development | 67,908,000 | 62,785,000 | 55,973,000 | 52,267,000 | 41,705,000 | 39,727,000 | 36,268,000 | 32,533,000 | 29,328,000 | 28,182,000 | 25,192,000 | 22,668,000 | 24,973,000 | 24,258,000 | 20,913,000 | 20,956,000 | 22,367,000 | 21,074,000 | 20,324,000 | 17,524,000 | 16,601,000 | 13,697,000 | 12,575,000 | 13,980,000 | 11,480,000 | 11,099,000 | 11,267,000 | 6,808,000 | 5,158,000 | 5,220,000 | 4,305,000 | 3,959,000 | 3,567,000 | 3,642,000 | 3,345,000 | 2,604,000 |
general and administrative | 32,839,000 | 25,169,000 | 22,835,000 | 24,071,000 | 18,179,000 | 16,677,000 | 18,184,000 | 14,229,000 | 13,145,000 | 11,821,000 | 11,374,000 | 12,488,000 | 11,621,000 | 11,075,000 | 11,869,000 | 12,082,000 | 11,310,000 | 12,573,000 | 10,572,000 | 8,808,000 | 7,593,000 | 7,476,000 | 7,625,000 | 8,300,000 | 4,251,000 | 3,736,000 | 3,366,000 | 2,313,000 | 2,217,000 | 2,075,000 | 1,717,000 | 1,838,000 | 2,365,000 | 1,779,000 | 1,492,000 | 1,037,000 |
total operating expenses | 100,747,000 | 87,954,000 | 78,808,000 | 76,338,000 | 59,884,000 | 56,404,000 | 54,452,000 | 46,762,000 | 42,473,000 | 40,003,000 | 36,566,000 | 35,156,000 | 36,594,000 | 35,333,000 | 32,782,000 | 33,038,000 | 33,677,000 | 33,647,000 | 30,896,000 | 26,332,000 | 24,194,000 | 21,173,000 | 20,200,000 | 21,230,000 | 15,982,000 | 15,276,000 | 14,991,000 | 9,499,000 | 7,930,000 | 7,653,000 | 7,058,000 | 6,791,000 | 7,040,000 | 6,428,000 | 5,907,000 | 4,688,000 |
income from operations | -79,997,000 | -72,666,000 | -64,700,000 | |||||||||||||||||||||||||||||||||
yoy | ||||||||||||||||||||||||||||||||||||
qoq | 10.09% | 12.31% | ||||||||||||||||||||||||||||||||||
operating margin % | ||||||||||||||||||||||||||||||||||||
other income | ||||||||||||||||||||||||||||||||||||
interest and other income | 6,274,000 | 6,935,000 | 7,879,000 | 5,659,000 | 5,892,000 | 5,973,000 | 5,325,000 | 4,370,000 | 4,275,000 | 3,216,000 | 2,861,000 | 2,271,000 | 1,090,000 | 564,000 | 329,000 | 295,000 | 311,000 | 290,000 | ||||||||||||||||||
interest expense | -393,000 | -391,000 | -382,000 | -403,000 | -412,000 | -406,000 | -398,000 | -394,000 | -404,000 | -387,000 | -364,000 | -306,000 | -108,000 | -144,000 | -146,000 | -144,000 | -144,000 | 197,000 | -252,000 | -267,000 | -258,000 | -226,000 | -209,000 | -203,000 | -194,000 | -189,000 | -42,000 | |||||||||
total other income | 5,881,000 | 6,544,000 | 7,497,000 | 5,256,000 | 5,480,000 | 5,567,000 | 4,927,000 | 3,976,000 | 3,871,000 | 2,829,000 | 2,497,000 | 2,042,000 | 1,090,000 | 564,000 | 329,000 | 295,000 | 311,000 | -16,000 | 202,000 | 173,000 | 425,000 | 686,000 | 990,000 | 2,440,000 | 975,000 | 537,000 | 387,000 | 166,000 | 110,000 | 120,000 | 132,000 | 130,000 | 414,000 | 338,000 | 322,000 | 212,000 |
income before income taxes | -74,116,000 | -66,122,000 | -57,203,000 | |||||||||||||||||||||||||||||||||
income tax expense | 226,000 | |||||||||||||||||||||||||||||||||||
net income | -74,116,000 | -66,122,000 | -57,429,000 | -19,217,000 | -54,404,000 | -50,837,000 | -49,525,000 | -42,786,000 | -38,602,000 | -37,174,000 | -34,069,000 | -33,114,000 | -35,504,000 | -34,769,000 | -32,453,000 | -32,743,000 | -33,366,000 | -33,663,000 | -30,694,000 | -26,159,000 | -23,769,000 | -20,487,000 | -19,210,000 | -18,790,000 | -15,007,000 | -14,739,000 | -14,604,000 | -9,333,000 | -7,820,000 | -7,533,000 | -6,926,000 | -6,661,000 | -6,626,000 | -6,090,000 | -5,585,000 | -4,476 |
yoy | 36.23% | 30.07% | 15.96% | -55.09% | 40.94% | 36.75% | 45.37% | 29.21% | 8.73% | 6.92% | 4.98% | 1.13% | 6.41% | 3.29% | 5.73% | 25.17% | 40.38% | 64.31% | 59.78% | 39.22% | 58.39% | 39.00% | 31.54% | 101.33% | 91.91% | 95.66% | 110.86% | 40.11% | 18.02% | 23.69% | 24.01% | 148715.91% | ||||
qoq | 12.09% | 15.14% | 198.84% | -64.68% | 7.02% | 2.65% | 15.75% | 10.84% | 3.84% | 9.11% | 2.88% | -6.73% | 2.11% | 7.14% | -0.89% | -1.87% | -0.88% | 9.67% | 17.34% | 10.06% | 16.02% | 6.65% | 2.24% | 25.21% | 1.82% | 0.92% | 56.48% | 19.35% | 3.81% | 8.76% | 3.98% | 0.53% | 8.80% | 9.04% | 124676.59% | |
net income margin % | ||||||||||||||||||||||||||||||||||||
net income per share | -0.85 | -0.75 | -0.66 | -0.22 | -0.63 | -0.59 | -0.59 | -0.55 | -0.5 | -0.53 | -0.5 | -0.49 | -0.53 | -0.52 | -0.49 | -0.5 | -0.5 | -0.51 | -0.46 | -0.45 | -0.42 | -0.4 | -0.42 | -0.21 | -0.4 | -0.45 | -0.46 | -0.38 | -0.4 | -0.39 | -0.37 | -0.36 | -0.36 | -0.57 | -0.54 | -1.41 |
weighted-average number of shares used in computing net income per share, basic and diluted | 87,645 | 87,586 | 87,415 | 86,161 | 86,950 | 86,635 | 83,905 | 73,229 | 77,241 | 69,795 | 68,403 | 66,990 | 66,889 | 66,672 | 66,607 | 66,352 | 66,353 | 66,282 | 66,218 | 53,077 | 56,405 | 51,633 | 45,411 | 41,946 | 37,789 | 32,971 | 31,829 | 24,344 | 19,789 | 19,464 | 18,850 | 18,548 | 18,245 | 10,723 | 10,420 | 3,184 |
comprehensive loss | -73,909 | -66,385 | -57,219 | -19,569 | -52,825 | -50,484 | -49,070 | -40,522 | -36,915 | -36,500 | -31,933 | -31,730 | -37,105 | -35,936 | -37,312 | -34,338 | -33,167 | -33,974 | -30,822 | -26,337 | -24,102 | -20,491 | -18,980 | -18,254 | -15,037 | -14,764 | -14,623 | -9,325 | -7,823 | -7,534 | -6,960 | -6,627 | -6,528 | -6,075 | -5,599 | |
other comprehensive income | -18.5 | -30 | ||||||||||||||||||||||||||||||||||
unrealized gain on short-term investments | 207 | -263 | 210 | |||||||||||||||||||||||||||||||||
operating expenses: | ||||||||||||||||||||||||||||||||||||
other income: | ||||||||||||||||||||||||||||||||||||
comprehensive loss: | ||||||||||||||||||||||||||||||||||||
other comprehensive income: | ||||||||||||||||||||||||||||||||||||
unrealized gain on marketable securities | 596.75 | 1,579 | 353 | 455 | 8 | -3 | -1 | -34 | 34 | 98 | 15 | |||||||||||||||||||||||||
balance at december 31, 2023 | 279,994 | 74,350 | 74,350 | 74,350 | ||||||||||||||||||||||||||||||||
issuance of pre-funded warrants to purchase common stock, net of offering costs | 30,681.5 | 8,164.5 | ||||||||||||||||||||||||||||||||||
issuance of common stock, net of offering costs | 5,771.75 | 1,377 | 1,377 | 1,377 | -59,549 | 5,661 | 5,661 | -127,186 | 10,465 | |||||||||||||||||||||||||||
share-based compensation expense | 2,128 | 1,709.5 | 4,878.25 | 4,295.5 | 2,266.25 | 6,938 | 4,415 | 2,179 | 3,099 | 1,924 | 894 | 1,503 | 919 | 490 | 1,663 | 1,129 | 644 | |||||||||||||||||||
issuance of common stock under equity plans | 638.75 | 454 | 454 | 454 | 125 | 125 | 125 | -2,834 | 322 | 266 | ||||||||||||||||||||||||||
balance at march 31, 2024 | 319,214 | 76,181 | 76,181 | 76,181 | ||||||||||||||||||||||||||||||||
balance at june 30, 2024 | 322,081.5 | 76,422 | 76,422 | |||||||||||||||||||||||||||||||||
exercise of pre-funded warrants | 1,000 | |||||||||||||||||||||||||||||||||||
balance at september 30, 2024 | 324,713 | 77,749 | ||||||||||||||||||||||||||||||||||
unrealized gain on marketable securities and foreign currency | 2,264 | 1,687 | 674 | 2,136 | -1,906.75 | -1,601 | -1,595 | 199 | -311 | -128 | -178 | -333 | -4 | 230 | ||||||||||||||||||||||
common stock | ||||||||||||||||||||||||||||||||||||
shares | ||||||||||||||||||||||||||||||||||||
balance at december 31, 2022 | 249,277.75 | 68,314 | 68,314 | 68,314 | ||||||||||||||||||||||||||||||||
balance at march 31, 2023 | 250,987.25 | 68,439 | 68,439 | 68,439 | ||||||||||||||||||||||||||||||||
balance at june 30, 2023 | 276,236 | 74,143 | 74,143 | |||||||||||||||||||||||||||||||||
balance at september 30, 2023 | 278,029.5 | 74,251 | ||||||||||||||||||||||||||||||||||
balance at december 31, 2021 | 235,339.75 | 66,572 | 66,572 | 66,572 | ||||||||||||||||||||||||||||||||
other comprehensive loss | -25 | -19 | ||||||||||||||||||||||||||||||||||
balance at september 30, 2022 | 241,181 | 66,894 | ||||||||||||||||||||||||||||||||||
other comprehensive loss: | ||||||||||||||||||||||||||||||||||||
unrealized loss on marketable securities and foreign currency | -1,167 | -4,859 | ||||||||||||||||||||||||||||||||||
balance at june 30, 2022 | 66,838 | |||||||||||||||||||||||||||||||||||
issuance of common stock under equity incentive plan | 64 | |||||||||||||||||||||||||||||||||||
balance at march 31, 2022 | 66,636 | |||||||||||||||||||||||||||||||||||
balance at december 31, 2020 | -847,160 | 66,194 | 66,194 | 66,194 | ||||||||||||||||||||||||||||||||
issuance of common stock from exercises of options and employee stock purchase plan | 908 | 310 | 102 | |||||||||||||||||||||||||||||||||
balance at september 30, 2021 | 233,542 | 66,504 | ||||||||||||||||||||||||||||||||||
balance at june 30, 2021 | 66,296 | |||||||||||||||||||||||||||||||||||
management fee income, related party | 8,000 | 12,000 | 12,000 | 12,000 | 15,000 | -310,000 | 180,000 | 180,000 | 195,000 | 195,000 | 195,000 | 195,000 | 195,000 | 195,000 | 300,000 | 300,000 | 300,000 | 300,000 | ||||||||||||||||||
interest income | 302,000 | 305,000 | 559,000 | 818,000 | 1,119,000 | 2,553,000 | 1,047,000 | 624,000 | 450,000 | 197,000 | 124,000 | 128,000 | 131,000 | 124,000 | 114,000 | 38,000 | 22,000 | |||||||||||||||||||
issuance of common stock from exercise of options | 69 | |||||||||||||||||||||||||||||||||||
balance at march 31, 2021 | 66,263 | |||||||||||||||||||||||||||||||||||
balance at december 31, 2019 | -385,938 | 45,384 | ||||||||||||||||||||||||||||||||||
issuance of common stock from exercise of options and employee stock purchase plan | -7,104 | 778 | ||||||||||||||||||||||||||||||||||
balance at september 30, 2020 | 145,652 | 56,627 | ||||||||||||||||||||||||||||||||||
research and development, related party | 214,250 | 181,000 | 377,000 | 299,000 | 334,000 | 494,000 | 293,000 | 1,011,000 | 977,000 | 1,082,000 | 993,000 | 1,056,000 | 1,024,000 | |||||||||||||||||||||||
general and administrative, related party | 48,250 | 70,000 | 64,000 | 59,000 | 44,000 | 61,000 | 65,000 | 25,000 | 17,000 | 26,000 | 14,000 | 14,000 | 23,000 | |||||||||||||||||||||||
operating activities | ||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||
non-cash interest expense | 167 | 114 | 57 | 62 | 32 | 16 | 27 | 11 | ||||||||||||||||||||||||||||
depreciation expense | 10 | 9 | 5 | 23 | 16 | 8 | 23 | 15 | 8 | 13 | 6 | 3 | ||||||||||||||||||||||||
amortization of premium and accretion of discounts on marketable securities | -1,299 | -703 | -275 | |||||||||||||||||||||||||||||||||
changes in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||
accounts receivable, related party | -16 | -14 | -41 | 86 | -9 | -46 | 169 | 144 | 24 | -349 | -342 | -318 | ||||||||||||||||||||||||
prepaid expenses and other current assets | -1,282 | -1,026 | -624 | -184 | -462 | -409 | -193 | -352 | -510 | -644 | -778 | |||||||||||||||||||||||||
other long-term assets | -355 | -42 | -163 | -205 | -117 | -288 | -223 | 51 | 74 | -288 | -129 | |||||||||||||||||||||||||
accounts payable and accrued expenses | 1,537 | 814 | 440 | 1,173 | -502 | -1,088 | -26 | -882 | -1,097 | 2,561 | 1,382 | 90 | ||||||||||||||||||||||||
accounts payable and accrued expenses, related party | 38 | 221 | 117 | -428 | -373 | -342 | 151 | 117 | 258 | 978 | ||||||||||||||||||||||||||
other long-term liabilities | 168 | 112 | 58 | 166 | 109 | 147 | 52 | 22 | -999 | -998 | ||||||||||||||||||||||||||
net cash from operating activities | -38,444 | -25,443 | -12,851 | -20,967 | -14,732 | -8,622 | -18,611 | -13,139 | -7,314 | -12,320 | -7,890 | -4,123 | ||||||||||||||||||||||||
investing activities | ||||||||||||||||||||||||||||||||||||
purchases of marketable securities | -203,461 | -106,850 | -76,207 | -79,254 | -19,360 | -10,543 | -41,207 | -23,445 | -4,003 | -30,129 | -26,260 | |||||||||||||||||||||||||
maturities of marketable securities | 119,543 | 80,993 | 46,493 | 59,927 | 36,327 | 20,077 | 43,705 | 25,800 | 12,200 | |||||||||||||||||||||||||||
net cash from investing activities | -83,918 | -25,857 | -29,714 | -19,327 | 16,967 | 9,534 | 2,498 | 2,355 | 8,197 | -30,178 | -26,287 | -10 | ||||||||||||||||||||||||
financing activities | ||||||||||||||||||||||||||||||||||||
proceeds from issuance of common stock | 132,170 | 57,650 | 57,650 | 53,683 | 159 | 47,586 | 47,841 | 51,580 | ||||||||||||||||||||||||||||
proceeds from exercise of stock options | 327 | 125 | 222 | 35 | 5 | |||||||||||||||||||||||||||||||
repayment of long-term debt | -1,000 | -250 | ||||||||||||||||||||||||||||||||||
net cash from financing activities | 131,497 | 57,525 | 57,650 | 53,905 | 194 | 5 | 7,453 | 7,453 | 52,589 | 52,841 | 56,580 | |||||||||||||||||||||||||
net increase in cash and cash equivalents | 9,135 | 6,225 | 15,085 | 13,611 | 2,429 | 917 | -8,660 | -3,331 | 883 | 10,091 | 18,664 | |||||||||||||||||||||||||
cash and cash equivalents at beginning of period | 11,433 | 11,433 | 11,433 | 9,725 | 9,725 | 9,725 | 15,443 | 15,443 | 15,443 | 1,124 | 1,124 | |||||||||||||||||||||||||
cash and cash equivalents at end of period | 20,568 | 17,658 | 26,518 | 23,336 | 12,154 | 10,642 | 6,783 | 12,112 | 16,326 | 11,215 | 19,788 | |||||||||||||||||||||||||
amortization of discount on marketable securities | -73 | 3 | 19 | 119 | 103 | 65 | 104 | 37 | ||||||||||||||||||||||||||||
proceeds from issuance of long-term debt | 7,453 | 7,453 | ||||||||||||||||||||||||||||||||||
supplemental disclosure of cash flow information: | ||||||||||||||||||||||||||||||||||||
interest paid | 466 | 305 | 148 | |||||||||||||||||||||||||||||||||
interest expense, related party | -46,000 | |||||||||||||||||||||||||||||||||||
non-cash license fee expense | 500 | 500 | 500 | |||||||||||||||||||||||||||||||||
change in value of derivative liability | 268 | 307 | ||||||||||||||||||||||||||||||||||
non-cash interest expense, related party | ||||||||||||||||||||||||||||||||||||
purchases of property and equipment | -49 | -27 | -10 | |||||||||||||||||||||||||||||||||
proceeds from issuance of convertible notes payable | 5,000 | 5,000 | 5,000 | |||||||||||||||||||||||||||||||||
proceeds from issuance of convertible notes payable, related party | ||||||||||||||||||||||||||||||||||||
proceeds from issuance of restricted stock awards | 3 | |||||||||||||||||||||||||||||||||||
supplemental disclosure of non-cash financing activities: | ||||||||||||||||||||||||||||||||||||
conversion of convertible notes and related accrued interest to common stock | 4,327 | 4,327 | 4,327 | |||||||||||||||||||||||||||||||||
conversion of convertible notes and related accrued interest to common stock, related party | 3,288 | 3,288 | 3,288 | |||||||||||||||||||||||||||||||||
financing costs included in accounts payable and accrued expenses | 253 | 3,535 | ||||||||||||||||||||||||||||||||||
non-cash accrued interest expense | 37 | 37 | 37 | |||||||||||||||||||||||||||||||||
non-cash accrued interest expense, related party | 42 | |||||||||||||||||||||||||||||||||||
long-term liabilities | ||||||||||||||||||||||||||||||||||||
accounts payable, related party | 923 | 927 | ||||||||||||||||||||||||||||||||||
proceeds from issuance of notes payable, related party | ||||||||||||||||||||||||||||||||||||
unrealized loss on marketable securities | -14 | |||||||||||||||||||||||||||||||||||
non-cash accrued interest expense, related parties | 42 | 41 | ||||||||||||||||||||||||||||||||||
net income and comprehensive loss | -4,476,000 | |||||||||||||||||||||||||||||||||||
prepaid expenses | -664 | |||||||||||||||||||||||||||||||||||
other liabilities | -907 | |||||||||||||||||||||||||||||||||||
net increase in cash | 52,447 | |||||||||||||||||||||||||||||||||||
cash at beginning of period | 1,124 | |||||||||||||||||||||||||||||||||||
cash at end of period | 53,571 |
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.
