MeiraGTx Holdings plc(NASDAQ:MGTX) 
MeiraGTx Holdings plc, a clinical stage gene therapy company, focusing on developing treatments for patients living with serious diseases. The company develops various therapies for ocular diseases, including inherited blindness, as well as Xerostomia following radiation treatment for head and neck ...
Website: http://www.meiragtx.com
Founded: 2015
Full Time Employees: 206
Sector: Healthcare
Industry: Biotechnology
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At a glance:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 |
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revenues: | ||||||||||||||||||||||||||||||||
service revenue - related party | 293,000 | 410,000 | 3,691,000 | 1,926,000 | 10,910,000 | 282,000 | 697,000 | |||||||||||||||||||||||||
total revenue | 293,000 | 410,000 | 3,691,000 | 10,910,000 | 282,000 | 697,000 | ||||||||||||||||||||||||||
yoy | -96.24% | 1208.87% | ||||||||||||||||||||||||||||||
qoq | -88.89% | 3768.79% | -59.54% | |||||||||||||||||||||||||||||
operating expenses: | ||||||||||||||||||||||||||||||||
cost of service revenue - related party | 198,000 | 313,000 | 2,676,000 | 1,378,000 | 11,985,000 | |||||||||||||||||||||||||||
general and administrative | 8,928,000 | 13,616,000 | 12,313,000 | 9,364,000 | 12,723,000 | 11,257,000 | 13,147,000 | 10,009,000 | 12,388,000 | 12,772,000 | 10,762,000 | 10,518,000 | 11,268,000 | 7,887,000 | 10,409,000 | 9,918,000 | 8,896,111 | 11,497,270 | 11,806,134 | 9,874,810 | 13,437,171 | 8,499,475 | 6,629,052 | 17,378,052 | ||||||||
research and development | 31,984,000 | 32,532,000 | 33,495,000 | 32,780,000 | 26,243,000 | 34,934,000 | 34,322,000 | 27,856,000 | 19,937,000 | 22,322,000 | 16,862,000 | 23,999,000 | 23,099,000 | 21,612,000 | 15,190,000 | 16,709,000 | 4,626,085 | 16,202,065 | 8,083,342 | 4,614,446 | 9,771,754 | 12,976,229 | 8,109,160 | 7,790,694 | ||||||||
total operating expenses | 41,110,000 | 46,461,000 | 48,484,000 | 43,522,000 | 50,951,000 | 46,191,000 | 47,469,000 | 37,865,000 | 32,325,000 | 35,094,000 | 27,624,000 | 34,517,000 | 34,367,000 | 29,499,000 | 25,599,000 | 26,627,000 | 13,522,196 | 27,699,335 | 19,889,476 | 14,489,256 | 23,208,925 | 21,475,704 | 14,738,212 | 25,168,746 | ||||||||
income from operations | -40,817,000 | -46,051,000 | -44,793,000 | -41,596,000 | -40,041,000 | -45,909,000 | -46,772,000 | -32,762,000 | -28,785,000 | -31,760,000 | -22,808,000 | -23,758,000 | -28,734,000 | -22,552,000 | -20,483,000 | -22,032,000 | -8,430,364 | -25,225,630 | -15,679,900 | -10,906,670 | -21,227,249 | -20,690,744 | -14,738,212 | -25,168,746 | ||||||||
yoy | -1.87% | 15.01% | -2.43% | -11.07% | 22.22% | 59.49% | 47.27% | 43.64% | 21.16% | 10.53% | 1.14% | 15.99% | 30.42% | 167.51% | -18.80% | 40.51% | -22.70% | 18.84% | -24.22% | -26.00% | -15.66% | |||||||||||
qoq | 2.81% | 7.69% | -12.78% | -1.85% | 13.82% | -9.37% | -4.00% | -17.32% | 10.10% | -7.03% | -66.58% | 60.88% | -48.62% | 2.59% | -41.44% | |||||||||||||||||
operating margin % | -13930.72% | NaN% | -11231.95% | -1213.57% | -Infinity% | NaN% | -367.01% | -16279.79% | -6710.47% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% |
other non-operating income: | ||||||||||||||||||||||||||||||||
foreign currency gain | -2,837,000 | -1,558,000 | 8,624,000 | 3,687,000 | 3,463,000 | -284,000 | -535,000 | 1,905,000 | 3,857,000 | -10,426,000 | -3,366,000 | 381,000 | 1,875,427 | -351,863 | -756,701 | 115,470 | 283,175 | 2,718,400 | -677,488 | -2,726,624 | ||||||||||||
interest income | 189,000 | 161,000 | 408,000 | 971,000 | 1,189,000 | 827,000 | 1,097,000 | 523,000 | 655,000 | 545,000 | 288,000 | 41,000 | 16,000 | 32,000 | 67,000 | 89,000 | 158,346 | 193,604 | 789,370 | 959 | 39,726 | 264 | 25,354 | |||||||||
interest expense | -2,848,000 | -3,065,000 | -3,034,000 | -3,043,000 | -3,357,000 | -3,254,000 | -3,250,000 | -3,381,000 | -3,355,000 | -3,060,000 | -1,892,000 | -82,000 | -77,000 | -59,000 | -51,000 | -59,000 | -35,136 | -34,045 | -33,966 | -9,283 | -9,454 | -9,574 | -9,508 | -9,708 | ||||||||
net income | -46,313,000 | -50,513,000 | -38,795,000 | -39,981,000 | -39,330,000 | -48,620,000 | -20,442,000 | -44,297,000 | -29,581,000 | -30,364,000 | -37,284,000 | -33,973,000 | -31,045,000 | -25,945,000 | -20,086,000 | -23,617,000 | -6,431,727 | -25,417,934 | -15,681,197 | -10,460,854 | -20,822,412 | -17,981,918 | -15,424,944 | -29,980,832 | ||||||||
yoy | 15.84% | 28.43% | -20.21% | 95.58% | -11.21% | 64.36% | -32.68% | 18.81% | -12.93% | -2.19% | 43.70% | 69.14% | 31.45% | 303.39% | -20.98% | 50.61% | -38.52% | 22.07% | -12.79% | -32.18% | -30.55% | |||||||||||
qoq | 30.20% | -2.97% | -19.11% | 137.84% | 49.75% | -2.58% | 9.75% | 9.43% | 29.17% | -14.95% | -74.70% | 62.09% | -49.76% | 15.80% | -48.55% | |||||||||||||||||
net income margin % | -15806.48% | NaN% | -12320.24% | -1051.07% | -Infinity% | NaN% | -360.49% | -17241.13% | -2932.86% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% | -Infinity% | NaN% | -Infinity% | -Infinity% |
other comprehensive gain: | ||||||||||||||||||||||||||||||||
foreign currency translation gain | 172,000 | 1,213,000 | -1,234,000 | 6,007,000 | -2,541,000 | -2,353,000 | 8,772,000 | 7,357,000 | 1,932,000 | 2,669,000 | -407,000 | -271,000 | 3,945,924 | |||||||||||||||||||
comprehensive loss | -46,141,000 | -49,300,000 | -41,254,000 | -41,328,000 | -40,564,000 | -49,108,000 | -22,133,000 | -38,290,000 | -32,122,000 | -32,717,000 | -28,512,000 | -14,916,186 | -28,001,825 | |||||||||||||||||||
basic and diluted adjusted net loss per ordinary share | -570 | -0.3 | -0.63 | -0.62 | ||||||||||||||||||||||||||||
weighted-average number of ordinary shares outstanding | 81,300,944,000 | 80,430,186,000 | 80,947,703,000 | 80,585,625,000 | 79,032,341,000 | 69,822,353,000 | 71,633,150,000 | 64,376,396,000 | 64,065,895,000 | 56,486,525,000 | 59,526,642,000 | 55,349,534,000 | 48,638,151,000 | 45,177,857,000 | 44,687,635,000 | 44,668,240,000 | 44,501,314,000 | 44,139,655,000 | 44,170,299,000 | 44,137,773,000 | 43,974,395,000 | 37,724,189 | 37,223,375 | 36,969,682 | 36,624,950 | 33,161,860 | 34,663,623 | 32,827,029 | 28,776,915 | 18,948,520 | 26,340,450 | 13,611,452 |
gain on sale of nonfinancial assets | -584,000 | 29,018,000 | ||||||||||||||||||||||||||||||
other comprehensive loss: | ||||||||||||||||||||||||||||||||
basic and diluted net loss per ordinary share | -620 | -480 | -510 | -550 | -760 | -320 | -740 | -530 | -620 | -830 | -760 | -700 | -590 | -460 | -540 | -0.17 | -0.69 | -0.43 | -0.59 | -2.29 | ||||||||||||
foreign currency translation loss | -2,459,000 | -1,347,000 | -488,000 | -1,691,000 | ||||||||||||||||||||||||||||
license revenue - related party | 5,103,000 | 3,540,000 | 3,334,000 | 4,816,000 | 10,759,000 | 5,633,000 | 6,947,000 | 5,116,000 | 4,595,000 | 5,091,832 | 2,473,705 | 4,209,576 | 3,582,586 | 784,960 | ||||||||||||||||||
fair value adjustment | -1,000 | 54,000 | -34,000 | 252,000 | 397,000 | |||||||||||||||||||||||||||
foreign currency loss | -8,677,000 | -12,838,000 | -2,647,000 | -1,615,000 | ||||||||||||||||||||||||||||
other comprehensive income: | ||||||||||||||||||||||||||||||||
total comprehensive loss | -26,616,000 | -29,113,000 | -23,276,000 | -20,493,000 | -23,888,000 | -10,552,954 | -24,900,342 | -11,735,273 | -8,807,347 | -19,242,530 | -19,115,601 | |||||||||||||||||||||
income before income taxes | -6,431,727 | -25,417,934 | -10,799,524 | -20,913,802 | ||||||||||||||||||||||||||||
benefit for income taxes | 338,670 | 91,390 | ||||||||||||||||||||||||||||||
foreign currency translation, net of tax of 0 and 338,670 for the three-month periods ended september 30, 2020 and 2019, respectively and 0 and 430,060 for the nine-month periods ended september 30, 2020 and 2019, respectively | -4,121,227 | |||||||||||||||||||||||||||||||
foreign currency translation gain, net of tax of 0, for the three-month and six-month periods ended june 30, 2020, and 91,390 for the three-month and six-month periods ended june 30, 2019 | 517,592 | |||||||||||||||||||||||||||||||
change in fair value of warrant liability | -2,184,183 | |||||||||||||||||||||||||||||||
other income | 83,075 | |||||||||||||||||||||||||||||||
foreign currency translation, net of tax of 338,670 and 0 for the three-month periods ended september 30, 2019 and 2018, respectively and 430,060 and 0 for the nine-month periods ended september 30, 2019 and 2018, respectively | 1,653,507 | |||||||||||||||||||||||||||||||
accretion on convertible preferred c shares and warrants | -1,141,794 | |||||||||||||||||||||||||||||||
adjusted net loss | -10,460,854 | -20,822,412 | -17,981,918 | -15,424,944 | -31,122,626 | |||||||||||||||||||||||||||
license revenue—related party | 1,981,676 | |||||||||||||||||||||||||||||||
foreign currency translation, net of tax of 91,390 and 0 for the three and six-month periods ended june 30, 2019 and 2018, respectively | 1,579,882 | |||||||||||||||||||||||||||||||
other comprehensive | ||||||||||||||||||||||||||||||||
foreign currency translation | -1,133,683 | |||||||||||||||||||||||||||||||
other comprehensive income | 508,758 | 1,979,007 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 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 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 |
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assets | ||||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||||
cash and cash equivalents | 71,541,000 | 14,841,000 | 32,166,000 | 66,523,000 | 103,659,000 | 122,873,000 | 99,974,000 | 119,206,000 | 129,566,000 | 63,365,000 | 92,773,000 | 68,784,000 | 114,706,000 | 72,108,000 | 113,781,000 | 143,634,000 | 172,556,000 | 199,410,000 | 179,084,386 | 194,811,181 | 210,409,650 | 227,233,384 | 253,330,623 | 204,273,017 | 227,275,139 | 68,080,175 | 88,560,634 | 102,060,551 |
accounts receivable - related party | 3,263,000 | 2,808,000 | 2,319,000 | 734,000 | 707,000 | 3,279,000 | 1,628,000 | 10,915,000 | 10,138,000 | 22,398,000 | 32,690,000 | 36,298,000 | 23,701,000 | 15,942,000 | 13,078,000 | 16,775,000 | 17,966,000 | 12,015,000 | 26,639,805 | 24,432,392 | 27,979,259 | 23,337,377 | ||||||
prepaid expenses | 6,031,000 | 7,195,000 | 7,033,000 | 6,928,000 | 6,828,000 | 7,029,000 | 4,955,000 | 5,076,000 | 5,625,000 | 6,997,000 | 8,108,000 | 6,981,000 | 10,171,000 | 6,682,000 | 7,217,000 | 8,840,000 | 6,506,000 | 6,365,000 | 4,001,502 | 7,318,772 | 3,460,056 | 4,464,085 | 6,248,981 | 3,265,612 | 1,765,209 | 1,937,785 | 2,029,327 | 1,613,955 |
tax incentive receivable | 14,696,000 | 9,002,000 | 4,472,000 | 4,221,000 | 8,971,000 | 5,152,000 | 3,557,000 | 13,171,000 | 13,277,000 | 10,013,000 | 8,026,000 | 7,857,000 | 4,897,000 | 6,350,000 | 6,865,000 | 5,383,000 | 7,428,000 | 7,388,000 | 7,087,253 | 6,777,863 | 6,819,851 | 11,974,437 | ||||||
other current assets | 670,000 | 328,000 | 780,000 | 606,000 | 2,018,000 | 713,000 | 660,000 | 932,000 | 1,016,000 | 758,000 | 1,547,000 | 1,561,000 | 1,561,000 | 3,330,000 | 1,984,000 | 2,299,000 | 2,588,000 | 4,948,000 | 818,671 | 1,868,559 | 1,965,752 | 1,970,585 | 11,509,144 | 5,336,569 | 2,117,334 | 4,634,105 | 716,737 | 311,283 |
total current assets | 96,201,000 | 34,174,000 | 47,084,000 | 79,889,000 | 123,518,000 | 139,046,000 | 110,774,000 | 149,300,000 | 159,622,000 | 103,531,000 | 143,144,000 | 121,481,000 | 155,036,000 | 104,412,000 | 142,925,000 | 176,931,000 | 207,044,000 | 230,126,000 | 217,882,143 | 235,208,767 | 251,012,166 | 268,979,868 | 271,088,748 | 212,875,198 | 231,157,682 | 74,652,065 | 91,306,698 | 103,985,789 |
property, plant and equipment | 102,573,000 | 107,653,000 | 110,816,000 | 104,408,000 | 102,878,000 | 112,541,000 | 108,844,000 | 111,412,000 | 115,896,000 | 111,880,000 | 114,004,000 | 112,580,000 | 93,620,000 | 91,388,000 | 84,069,000 | 22,014,237 | ||||||||||||
intangible assets | 494,000 | 653,000 | 742,000 | 773,000 | 821,000 | 951,000 | 969,000 | 1,038,000 | 1,118,000 | 1,140,000 | 1,252,000 | 1,295,000 | 1,293,000 | 1,474,000 | 1,668,000 | 1,861,000 | 1,994,000 | 2,060,000 | ||||||||||
restricted cash | 2,217,000 | 2,265,000 | 2,258,000 | 2,087,000 | 2,009,000 | 2,156,000 | 1,051,000 | 1,059,000 | 1,083,000 | 1,038,000 | 250,526 | 377,598 | 123,376 | 123,376 | 123,376 | 123,376 | 123,376 | 123,376 | 123,376 | |||||||||
other assets | 1,466,000 | 1,111,000 | 1,093,000 | 1,032,000 | 1,002,000 | 1,139,000 | 1,139,000 | 1,138,000 | 1,917,000 | 1,421,000 | 1,465,000 | 1,428,000 | 1,322,000 | 1,505,000 | 1,609,000 | 201,000 | 206,000 | 204,000 | 203,255 | 194,318 | 191,198 | 195,053 | ||||||
equity method and other investments | 6,749,000 | 6,749,000 | 6,749,000 | 6,749,000 | 6,749,000 | 6,766,000 | 6,766,000 | 6,766,000 | 6,766,000 | 6,326,000 | 6,326,000 | 6,326,000 | 6,656,000 | 6,656,000 | 6,656,000 | 6,665,000 | 6,665,000 | 6,665,000 | ||||||||||
right-of-use assets - operating leases | 12,124,000 | 13,064,000 | 5,820,000 | 6,348,000 | 10,576,000 | 12,782,000 | 13,823,000 | 14,835,000 | 15,910,000 | 17,446,000 | 18,693,000 | 19,427,000 | 19,913,000 | 21,538,000 | 23,223,000 | |||||||||||||
right-of-use assets - finance leases | 22,831,000 | 23,802,000 | 24,154,000 | 22,728,000 | 22,198,000 | 24,107,000 | 23,285,000 | 23,687,000 | 24,432,000 | 23,680,000 | 24,626,000 | 24,851,000 | 22,890,000 | 24,765,000 | 26,771,000 | |||||||||||||
total assets | 244,655,000 | 189,471,000 | 198,716,000 | 224,014,000 | 269,751,000 | 299,488,000 | 266,651,000 | 309,235,000 | 326,744,000 | 267,194,000 | 310,263,000 | 288,140,000 | 301,412,000 | 252,461,000 | 287,693,000 | 303,336,000 | 326,768,000 | 339,676,000 | 293,045,723 | 290,611,376 | 304,667,843 | 323,887,646 | 317,752,177 | 253,076,041 | 257,854,303 | 96,894,763 | 105,235,912 | 117,676,971 |
liabilities and shareholders' equity | ||||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||||
accounts payable | 16,658,000 | 21,537,000 | 25,586,000 | 20,290,000 | 23,586,000 | 29,504,000 | 21,398,000 | 21,223,000 | 16,042,000 | 20,773,000 | 28,497,000 | 29,755,000 | 21,693,000 | 18,111,000 | 18,498,000 | 11,421,000 | 11,644,000 | 7,902,000 | 5,195,937 | 3,089,350 | 7,288,347 | 3,759,339 | 3,798,441 | 3,233,478 | 3,382,373 | 3,042,861 | 2,415,667 | 3,461,441 |
accrued expenses | 25,239,000 | 23,872,000 | 15,483,000 | 23,964,000 | 27,414,000 | 19,341,000 | 16,928,000 | 17,353,000 | 42,639,000 | 28,251,000 | 24,889,000 | 31,067,000 | 24,774,000 | 23,572,000 | 23,181,000 | 21,926,000 | 17,559,000 | 17,248,000 | 15,563,482 | 18,491,860 | 12,784,394 | 18,083,757 | 9,346,895 | 9,576,307 | 7,996,329 | 11,991,697 | 6,042,290 | 5,289,261 |
lease obligations - operating leases, current | 2,221,000 | |||||||||||||||||||||||||||
lease obligations - finance leases, current | 39,000 | |||||||||||||||||||||||||||
deferred revenue - related party, current | 1,996,000 | 2,742,000 | 2,908,000 | 4,241,000 | 4,827,000 | 5,107,000 | 3,498,000 | 3,772,000 | 2,926,000 | 7,922,000 | 12,058,000 | 13,693,000 | 18,878,000 | 21,205,000 | 20,190,000 | 23,003,000 | 24,877,000 | 25,597,000 | 23,715,116 | 23,003,106 | 20,930,133 | 25,678,515 | 24,115,777 | |||||
note payable, net, current | 24,866,000 | 74,055,000 | ||||||||||||||||||||||||||
other current liabilities | 105,108,000 | 28,241,000 | 6,812,000 | 580,000 | 903,000 | 1,283,000 | 970,000 | 1,007,000 | 1,278,000 | 2,476,000 | 2,233,000 | 2,571,000 | 3,359,000 | 983,000 | 17,639 | 60,780 | 195,618 | 437,053 | ||||||||||
total current liabilities | 176,127,000 | 152,922,000 | 53,436,000 | 52,372,000 | 60,783,000 | 59,418,000 | 47,006,000 | 47,543,000 | 67,078,000 | 63,514,000 | 71,803,000 | 81,104,000 | 72,363,000 | 67,505,000 | 65,501,000 | 59,630,000 | 57,253,000 | 53,520,000 | 46,608,192 | 46,722,104 | 43,026,017 | 49,195,821 | 39,289,802 | 40,790,164 | 33,204,345 | 15,498,810 | 8,487,241 | 8,779,417 |
deferred revenue - related party | 64,840,000 | 64,210,000 | 63,044,000 | 59,618,000 | 57,576,000 | 58,902,000 | 53,763,000 | 53,331,000 | 34,017,000 | 23,191,000 | 25,364,000 | 26,425,000 | 15,486,000 | 21,337,000 | 37,277,000 | 32,488,000 | 39,333,000 | 43,303,000 | 48,279,463 | 50,691,547 | 55,700,543 | 60,535,576 | 62,837,715 | 77,186,561 | ||||
lease obligations - operating leases | 10,611,000 | |||||||||||||||||||||||||||
lease obligations - finance leases | 97,000 | |||||||||||||||||||||||||||
asset retirement obligations | 1,411,000 | 1,365,000 | 1,454,000 | 1,344,000 | 2,821,000 | 2,880,000 | 2,490,000 | 2,440,000 | 2,401,000 | 2,319,000 | 2,301,000 | 2,238,000 | 2,081,000 | 2,099,000 | 2,114,000 | 1,916,000 | 1,897,000 | 1,856,000 | 1,741,407 | 1,682,515 | 1,652,570 | 1,654,755 | 131,213 | 132,846 | 133,816 | |||
note payable | 49,699,000 | 73,773,000 | 73,495,000 | 73,221,000 | 72,942,000 | 72,665,000 | 72,391,000 | 72,119,000 | 71,844,000 | 71,571,000 | 71,301,000 | 70,845,000 | ||||||||||||||||
total liabilities | 302,785,000 | 230,028,000 | 195,756,000 | 190,915,000 | 201,924,000 | 203,752,000 | 186,612,000 | 187,501,000 | 188,567,000 | 175,308,000 | 186,736,000 | 197,918,000 | 178,742,000 | 110,489,000 | 126,409,000 | 115,497,000 | 121,046,000 | 118,882,000 | 113,959,476 | 117,845,862 | 119,743,057 | 133,085,545 | 122,858,807 | 123,512,930 | 113,436,053 | 15,835,290 | 8,891,841 | 9,204,866 |
commitments and contingencies | ||||||||||||||||||||||||||||
shareholders' deficit: | ||||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 81,446,126 and 81,120,931 shares issued and outstanding at march 31, 2026 and december 31, 2025, respectively | 3,000 | |||||||||||||||||||||||||||
capital in excess of par value | 820,018,000 | 797,063,000 | 791,280,000 | 780,165,000 | 773,565,000 | 763,204,000 | 706,943,000 | 699,531,000 | 693,841,000 | 659,170,000 | 652,521,000 | 587,094,000 | 550,168,000 | 540,958,000 | 533,655,000 | 521,420,000 | 516,027,000 | 510,605,000 | 431,103,319 | 414,229,672 | 401,488,623 | 395,630,666 | 390,053,479 | |||||
treasury shares | -18,193,000 | |||||||||||||||||||||||||||
accumulated other comprehensive gain | 2,578,000 | |||||||||||||||||||||||||||
accumulated deficit | -862,536,000 | -831,311,000 | -780,798,000 | -742,003,000 | -702,022,000 | -662,623,000 | -623,293,000 | -574,673,000 | -554,231,000 | -574,446,000 | -530,149,000 | -500,568,000 | -442,891,000 | -405,607,000 | -371,634,000 | -330,677,000 | -304,732,000 | -284,645,000 | -250,566,810 | -244,135,083 | -218,717,149 | -203,035,952 | -197,554,901 | -187,094,046 | -166,271,635 | -148,289,717 | -127,232,972 | -111,808,028 |
total shareholders' deficit | -58,130,000 | |||||||||||||||||||||||||||
total liabilities and shareholders' deficit | 244,655,000 | |||||||||||||||||||||||||||
contract assets - related party | 270,000 | 950,000 | ||||||||||||||||||||||||||
inventory | 314,000 | 607,000 | 385,000 | |||||||||||||||||||||||||
lease obligations, current | 2,475,000 | 2,647,000 | 3,297,000 | 4,053,000 | 4,183,000 | 4,212,000 | 4,188,000 | 4,193,000 | 4,092,000 | 4,126,000 | 4,018,000 | 3,659,000 | 3,634,000 | 3,632,000 | 3,280,000 | 3,173,000 | 2,773,000 | 2,116,018 | 2,137,788 | 1,962,363 | 1,674,210 | 2,028,689 | 1,660,319 | 679,025 | ||||
lease obligations | 11,531,000 | 4,049,000 | 4,086,000 | 7,523,000 | 9,610,000 | 10,688,000 | 11,796,000 | 12,952,000 | 14,256,000 | 15,508,000 | 16,453,000 | 17,458,000 | 19,063,000 | 20,767,000 | 21,262,000 | 22,357,000 | 19,999,000 | 17,127,159 | 18,555,378 | 19,172,729 | 21,504,340 | 20,600,077 | 15,392,543 | 2,911,331 | ||||
shareholders' equity | ||||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 80,479,684 and 78,397,380 shares issued and outstanding at september 30, 2025 and december 31, 2024, respectively | 3,000 | |||||||||||||||||||||||||||
accumulated other comprehensive loss | -6,312,000 | -7,525,000 | -5,066,000 | -3,719,000 | -4,848,000 | -3,614,000 | -3,126,000 | -739,000 | -2,906,000 | -5,575,000 | -5,168,000 | -1,451,753 | -292,477 | -801,235 | ||||||||||||||
total shareholders' equity | -40,557,000 | 2,960,000 | 33,099,000 | 67,827,000 | 95,736,000 | 80,039,000 | 121,734,000 | 138,177,000 | 91,886,000 | 123,527,000 | 90,222,000 | 122,670,000 | 141,972,000 | 161,284,000 | 187,839,000 | 205,722,000 | 220,794,000 | 179,086,247 | 172,765,514 | 184,924,786 | 190,802,101 | |||||||
total liabilities and shareholders' equity | 189,471,000 | 198,716,000 | 224,014,000 | 269,751,000 | 299,488,000 | 266,651,000 | 309,235,000 | 326,744,000 | 267,194,000 | 310,263,000 | 288,140,000 | 301,412,000 | 252,461,000 | 287,693,000 | 303,336,000 | 326,768,000 | 339,676,000 | 293,045,723 | 290,611,376 | 304,667,843 | 323,887,646 | |||||||
shareholders' equity: | ||||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 80,446,284 and 78,397,380 shares issued and outstanding at june 30, 2025 and december 31, 2024, respectively | 3,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 79,418,438 and 78,397,380 shares issued and outstanding at march 31, 2025 and december 31, 2024, respectively | 3,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 78,397,380 and 63,601,015 shares issued and outstanding at december 31, 2024 and december 31, 2023, respectively | 3,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 77,695,418 and 63,601,015 shares issued and outstanding at september 30, 2024 and december 31, 2023, respectively | 3,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 64,684,187 and 63,601,015 shares issued and outstanding at june 30, 2024 and december 31, 2023, respectively | 3,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 64,298,691 and 63,601,015 shares issued and outstanding at march 31, 2024 and december 31, 2023, respectively | 2,000 | |||||||||||||||||||||||||||
in-process research and development | 732,000 | 753,000 | 752,000 | 682,000 | 723,000 | 772,000 | 803,000 | 823,000 | 812,000 | 810,357 | 774,727 | 762,285 | 777,655 | |||||||||||||||
deferred income tax liability | 184,000 | 189,000 | 189,000 | 171,000 | 181,000 | 194,000 | 201,000 | 206,000 | 204,000 | 203,255 | 194,318 | 191,198 | 195,053 | |||||||||||||||
other long-term liabilities | 208,000 | 338,000 | 304,000 | 556,000 | ||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 63,601,015 and 48,477,209 shares issued and outstanding at december 31, 2023 and december 31, 2022, respectively | 2,000 | |||||||||||||||||||||||||||
accumulated other comprehensive income | -1,435,000 | 7,160,000 | 1,153,000 | 3,694,000 | 15,391,000 | 6,619,000 | 2,669,474 | 2,151,882 | -1,794,042 | 2,393,372 | 739,865 | -840,017 | 293,666 | |||||||||||||||
| ||||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 59,597,151 and 48,477,209 shares issued and outstanding at september 30, 2023 and december 31, 2022, respectively | 2,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 59,535,314 and 48,477,209 shares issued and outstanding at june 30, 2023 and december 31, 2022, respectively | 2,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 48,686,263 and 48,477,209 shares issued and outstanding at march 31, 2023 and december 31, 2022, respectively | 2,000 | |||||||||||||||||||||||||||
commitments | ||||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 44,725,678 and 44,548,925 shares issued and outstanding at september 30, 2022 and december 31, 2021, respectively | 2,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 44,710,678 and 44,548,925 shares issued and outstanding at june 30, 2022 and december 31, 2021, respectively | 2,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 44,710,678 and 44,548,925 shares issued and outstanding at march 31, 2022 and december 31, 2021, respectively | 2,000 | |||||||||||||||||||||||||||
property and equipment | 63,699,000 | 54,679,000 | 47,303,000 | 34,820,814 | 27,807,875 | 25,430,812 | 23,858,108 | 16,899,147 | 15,907,334 | 15,858,667 | 13,624,968 | 13,567,806 | ||||||||||||||||
security deposits | 1,166,000 | 1,201,000 | 1,034,000 | 737,720 | 705,515 | 709,886 | 951,138 | 839,149 | 349,592 | 107,593 | 105,085 | 180,870 | ||||||||||||||||
right-of-use assets | 52,010,000 | 54,156,000 | 51,472,000 | 38,591,434 | 25,920,174 | 26,561,496 | 29,002,448 | 28,801,757 | 23,820,541 | 10,606,985 | ||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 44,316,385 and 44,189,150 shares issued and outstanding at september 30, 2021 and december 31, 2020, respectively | 2,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 44,309,453 and 44,189,150 shares issued and outstanding at june 30, 2021 and december 31, 2020, respectively | 2,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 44,282,073 and 44,189,150 shares issued and outstanding at march 31, 2021 and december 31, 2020, respectively | 2,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 38,412,163 and 36,791,906 shares issued and outstanding at september 30, 2020 and december 31, 2019, respectively | 1,491 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 37,362,416 and 36,791,906 shares issued and outstanding at june 30, 2020 and december 31, 2019, respectively | 1,451 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized, 36,817,916 and 36,791,906 shares issued and outstanding at march 31, 2020 and december 31, 2019, respectively | 1,430 | |||||||||||||||||||||||||||
deferred rent | 201,264 | 210,993 | 224,367 | |||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized 36,791,906 issued and outstanding at december 31, 2019 27,386,632 issued and outstanding at december 31, 2018 | 1,429 | |||||||||||||||||||||||||||
liabilities and shareholders’ equity | ||||||||||||||||||||||||||||
shareholders’ equity: | ||||||||||||||||||||||||||||
ordinary shares, 0.00003881 par value, 1,288,327,750 authorized 36,571,722 issued and outstanding at september 30, 2019 27,386,632 issued and outstanding at december 31, 2018 | 1,420 | |||||||||||||||||||||||||||
total shareholders’ equity | 194,893,370 | 129,563,111 | 144,418,250 | 81,059,473 | 96,344,071 | 108,472,105 | ||||||||||||||||||||||
total liabilities and shareholders’ equity | 317,752,177 | 253,076,041 | 257,854,303 | |||||||||||||||||||||||||
deferred revenue—related party, current | 26,320,060 | |||||||||||||||||||||||||||
deferred revenue—related party | 67,197,377 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 nominal value, 1,288,327,750 authorized 33,342,791 issued and outstanding at june 30, 2019 27,386,632 issued and outstanding at december 31, 2018 | 1,295 | |||||||||||||||||||||||||||
capital in excess of nominal value | 315,915,997 | 311,528,607 | 229,054,460 | 223,868,465 | 221,080,313 | |||||||||||||||||||||||
deferred revenue, related party, current | 20,951,000 | |||||||||||||||||||||||||||
ordinary shares, 0.00003881 nominal value, 1,288,327,750 authorized 33,342,566 issued and outstanding at march 31, 2019 27,386,632 issued and outstanding at december 31, 2018 | 1,295 | |||||||||||||||||||||||||||
liabilities, convertible preferred c shares and shareholders’ equity | ||||||||||||||||||||||||||||
warrant liability | ||||||||||||||||||||||||||||
capitalized lease obligation—current portion | 27,199 | 29,284 | 28,715 | |||||||||||||||||||||||||
due to kadmon | ||||||||||||||||||||||||||||
capitalized lease obligation | 7,097 | 12,092 | 20,732 | |||||||||||||||||||||||||
asset retirement obligation | 128,119 | |||||||||||||||||||||||||||
convertible preferred c shares | ||||||||||||||||||||||||||||
convertible preferred c shares 0 and 5,005,935 outstanding at december 31, 2018 and december 31, 2017, respectively | ||||||||||||||||||||||||||||
shareholders’ equity | ||||||||||||||||||||||||||||
ordinary shares, 0.00003881 nominal value, 1,288,327,750 authorized 27,386,632 issued and outstanding at december 31, 2018 8,826,190 issued and 8,714,563 issued and outstanding at december 31, 2017 | 1,064 | |||||||||||||||||||||||||||
total liabilities, convertible preferred c shares and shareholders’ equity | 96,894,763 | 105,235,912 | 117,676,971 | |||||||||||||||||||||||||
other liabilities | 181,515 | 180,350 | ||||||||||||||||||||||||||
convertible preferred c shares 0 and 5,005,935 outstanding at september 30, 2018 and december 31, 2017, respectively | ||||||||||||||||||||||||||||
ordinary shares, 0.00003881 nominal value, 1,288,327,750 authorized 27,184,132 issued and outstanding at september 30, 2018 8,826,190 issued and 8,714,563 issued and outstanding at december 31, 2017 | 1,055 | |||||||||||||||||||||||||||
convertible preferred c shares 0 and 5,005,935 outstanding at june 30, 2018 december 31, 2017, respectively | ||||||||||||||||||||||||||||
a ordinary shares, 0.00003881 nominal value 27,184,132 issued and outstanding at june 30, 2018 8,826,190 issued and 8,714,563 issued and outstanding at december 31, 2017 | 1,055 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-09-30 | 2018-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||||||||||
net loss | -46,313,000 | -129,289,000 | -78,776,000 | -39,981,000 | -108,392,000 | -69,062,000 | -20,442,000 | -104,242,000 | -59,945,000 | -30,364,000 | -102,302,000 | -65,018,000 | -31,045,000 | -69,649,000 | -43,704,000 | -23,617,000 | -10,461,146 | -6,431,727 | -25,417,934 | -15,681,197 | -49,265,184 | -38,804,330 | -17,981,918 | -61,809,129 | -46,384,185 |
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||||||||
share-based compensation expense | 3,654,000 | 16,504,000 | 10,551,000 | 4,887,000 | 19,074,000 | 12,770,000 | 6,960,000 | 20,756,000 | 13,703,000 | 6,432,000 | 21,818,000 | 14,881,000 | 7,578,000 | 15,359,000 | 10,020,000 | 4,817,000 | 3,939,711 | 3,737,919 | 5,056,069 | 5,682,881 | 10,826,665 | 7,321,114 | 2,934,991 | 15,555,913 | 12,633,556 |
foreign currency loss | 2,837,000 | -12,311,000 | -3,687,000 | -2,644,000 | 819,000 | 535,000 | 2,915,000 | -5,762,000 | -3,857,000 | 25,911,000 | 13,073,000 | 2,647,000 | 4,600,000 | 1,234,000 | 1,615,000 | 351,866 | 756,701 | -3,117,047 | -3,001,575 | 2,425,488 | 1,748,000 | ||||
depreciation and amortization | 3,008,000 | 9,427,000 | 6,271,000 | 3,081,000 | 9,757,000 | 6,497,000 | 3,275,000 | 9,818,000 | 6,339,000 | 3,092,000 | 6,231,000 | 4,203,000 | 2,118,000 | 5,811,000 | 3,774,000 | 1,758,000 | |||||||||
change in right-of-use assets | 653,000 | ||||||||||||||||||||||||
gain on termination of lease liabilities | -1,465,000 | -1,365,000 | -1,365,000 | ||||||||||||||||||||||
loss on disposal of equipment, furniture and fixtures | 55,000 | 310,000 | -122,000 | 418,000 | 434,000 | 89,000 | 97,140 | 10,138 | 98,166 | 7,550 | |||||||||||||||
amortization of interest on asset retirement obligations | 36,000 | 126,000 | 98,000 | 63,000 | 146,000 | 97,000 | 48,000 | 130,000 | 89,000 | 44,000 | 125,000 | 84,000 | 42,000 | 112,000 | 74,000 | 35,000 | 35,222 | 34,462 | 33,323 | 33,062 | |||||
amortization of debt discount | 228,000 | 834,000 | 552,000 | 274,000 | 824,000 | 546,000 | 273,000 | 809,000 | 538,000 | 266,000 | 170,000 | ||||||||||||||
acquired in-process research and development | 499,000 | ||||||||||||||||||||||||
decrease in operating assets: | |||||||||||||||||||||||||
accounts receivable - related party | -260,000 | -2,143,000 | -1,653,000 | -49,000 | 5,033,000 | 7,764,000 | -1,603,000 | -198,000 | -10,552,000 | -14,137,000 | -2,150,000 | 5,794,000 | 9,171,000 | 21,484,000 | 20,666,000 | 26,764,000 | -11,676,609 | -2,588,796 | 3,569,105 | -4,705,613 | |||||
contract assets - related party | 986,000 | 986,000 | 701,000 | ||||||||||||||||||||||
inventory | 428,000 | 122,000 | -203,000 | ||||||||||||||||||||||
prepaid expenses | -42,000 | -113,000 | 144,000 | 7,000 | -1,289,000 | 654,000 | 530,000 | 1,212,000 | 198,000 | 1,235,000 | -2,838,000 | 1,009,000 | 780,000 | -1,827,000 | 620,000 | 739,000 | -2,901,475 | 3,598,786 | -3,891,560 | 827,980 | -4,413,356 | -1,331,780 | 188,044 | ||
tax incentive receivable | 163,000 | 4,851,000 | 4,851,000 | 8,170,000 | 9,586,000 | -2,283,000 | 6,518,000 | 5,565,000 | 5,565,000 | 7,518,000 | 5,667,000 | 5,667,000 | -5,343,136 | 0 | 0 | 4,628,464 | |||||||||
other current assets | -113,000 | 1,929,000 | 1,394,000 | 1,638,000 | 923,000 | 905,000 | 626,000 | 898,000 | 196,000 | 136,000 | 578,000 | -1,096,000 | 387,000 | 2,387,000 | 2,163,000 | -348,000 | -3,625,637 | 1,115,605 | 88,748 | -98,803 | -6,358,738 | -591,153 | 2,523,388 | 239,627 | 650,528 |
other assets | 1,276,000 | -32,000 | 689,000 | 632,000 | 632,000 | -15,000 | -15,000 | -111,000 | -109,000 | -239,000 | -147,000 | -147,000 | |||||||||||||
increase in operating liabilities: | |||||||||||||||||||||||||
accounts payable | 7,909,000 | -2,362,000 | -2,968,000 | -3,061,000 | 14,024,000 | 5,670,000 | 5,198,000 | 5,393,000 | 13,072,000 | 14,642,000 | 8,628,000 | 3,706,000 | 4,609,000 | 3,898,000 | 2,519,000 | 1,593,000 | 1,084,913 | 1,185,154 | -4,648,524 | 3,944,220 | 1,415,012 | 266,910 | 304,716 | -2,337,302 | -2,413,642 |
accrued expenses | -9,904,000 | -4,329,000 | -12,595,000 | -3,585,000 | -23,350,000 | -24,928,000 | -24,231,000 | -13,917,000 | -17,234,000 | -11,469,000 | 944,000 | -1,058,000 | -3,831,000 | -2,012,000 | -5,048,000 | -5,071,000 | 4,805,748 | -3,788,469 | 5,633,391 | -4,479,397 | -2,428,405 | -2,355,789 | -4,124,797 | -3,496,882 | -4,748,762 |
lease liabilities | -1,266,000 | ||||||||||||||||||||||||
other current liabilities | 55,603,000 | 27,557,000 | 5,904,000 | -19,000 | 123,000 | 37,000 | 1,593,000 | -23,000 | -23,000 | -24,000 | -436,161 | ||||||||||||||
deferred revenue - related party | -50,000 | -695,000 | -1,720,000 | -329,000 | 23,867,000 | 20,537,000 | 20,475,000 | -11,977,000 | -6,874,000 | -3,334,000 | -21,208,000 | -16,392,000 | -5,633,000 | -16,658,000 | -9,711,000 | -4,595,000 | -3,787,872 | -5,091,832 | -2,473,705 | -4,209,576 | |||||
net cash from operating activities | 17,810,000 | -92,990,000 | -80,775,000 | -36,828,000 | -81,219,000 | -56,197,000 | -36,741,000 | -90,818,000 | -66,404,000 | -37,392,000 | -56,831,000 | -36,105,000 | -8,298,000 | -29,358,000 | -12,175,000 | 9,086,000 | -29,562,384 | -9,141,583 | -12,880,557 | -12,383,275 | 42,016,287 | 60,421,867 | 82,165,990 | -47,419,158 | -36,425,351 |
capital expenditures | -2,008,000 | -3,554,000 | -2,944,000 | -1,710,000 | -3,737,000 | -3,007,000 | -1,678,000 | -17,144,000 | -13,580,000 | -8,605,000 | -36,471,000 | -26,460,000 | -12,460,000 | -21,982,000 | -10,077,000 | -4,502,000 | -8,014,638 | -5,956,938 | -2,916,012 | -4,035,968 | -4,230,740 | -2,206,996 | -1,115,233 | -2,372,622 | -1,318,016 |
free cash flows | 15,802,000 | -96,544,000 | -83,719,000 | -38,538,000 | -84,956,000 | -59,204,000 | -38,419,000 | -107,962,000 | -79,984,000 | -45,997,000 | -93,302,000 | -62,565,000 | -20,758,000 | -51,340,000 | -22,252,000 | 4,584,000 | -37,577,022 | -15,098,521 | -15,796,569 | -16,419,243 | 37,785,547 | 58,214,871 | 81,050,757 | -49,791,780 | -37,743,367 |
cash flows from investing activities: | |||||||||||||||||||||||||
purchase of property, plant and equipment | -2,008,000 | -3,554,000 | -2,944,000 | -1,710,000 | -3,737,000 | -3,007,000 | -1,678,000 | -17,144,000 | -13,580,000 | -8,605,000 | -36,471,000 | -26,460,000 | -12,460,000 | -1,115,233 | |||||||||||
acquisition of in-process research and development assets | -250,000 | ||||||||||||||||||||||||
net cash from investing activities | -2,258,000 | -3,018,000 | -2,471,000 | -1,710,000 | 24,697,000 | 26,011,000 | 27,340,000 | -17,144,000 | -13,580,000 | -8,605,000 | -36,471,000 | -26,460,000 | -12,460,000 | -36,348,000 | -24,443,000 | -18,868,000 | -10,234,737 | -19,833,716 | -2,916,012 | -4,035,968 | -4,230,740 | -2,206,996 | -1,115,233 | -2,372,622 | -1,318,016 |
cash flows from financing activities: | |||||||||||||||||||||||||
exercise of share options | 62,000 | 46,000 | 35,000 | 4,000 | 192,000 | 192,000 | 192,000 | 414,000 | 360,000 | 141,000 | 187,449 | 478,232 | 0 | 175,077 | 54,611 | 1,267 | |||||||||
payments of withholdings on shares withheld for income taxes | -5,960,000 | -2,991,000 | -2,761,000 | -2,761,000 | -2,340,000 | -2,221,000 | -2,221,000 | -1,519,000 | -1,231,000 | -1,231,000 | -2,774,000 | -2,774,000 | -2,774,000 | ||||||||||||
payments on lease obligations - financing leases | -14,000 | -1,000 | -1,000 | -5,000 | -3,710 | -3,458 | -5,615 | -10,266 | -17,923 | -13,365 | -6,624 | ||||||||||||||
proceeds from the issuance of ordinary shares | 14,027,000 | 9,915,000 | 9,915,000 | 4,482,000 | 55,135,000 | 3,198,000 | 1,586,000 | 61,950,000 | 61,950,000 | 73,887,500 | |||||||||||||||
issuance costs in connection with ordinary shares | -35,000 | -26,000 | -26,000 | -12,000 | -2,505,000 | -644,000 | -635,000 | -4,119,000 | -4,003,000 | -4,635,362 | -7,469,748 | -2,426,953 | -2,426,953 | -4,115,843 | -2,781,553 | ||||||||||
payment for treasury shares | -18,193,000 | ||||||||||||||||||||||||
net cash from financing activities | -10,113,000 | 6,944,000 | 7,163,000 | 1,713,000 | 50,290,000 | 333,000 | -1,270,000 | 56,312,000 | 56,716,000 | -1,231,000 | 70,367,000 | -2,582,000 | -2,582,000 | 413,000 | 359,000 | 136,000 | 69,435,877 | 13,132,310 | -5,615 | 164,811 | 147,766,947 | 77,560,949 | 77,566,423 | 130,047,495 | 131,469,856 |
net increase in cash, cash equivalents and restricted cash | 5,439,000 | 29,638,756 | -15,842,989 | -15,802,184 | -16,254,432 | 185,552,494 | 135,775,820 | 158,617,180 | 80,255,715 | 93,726,489 | |||||||||||||||
effect of exchange rate changes on cash, cash equivalents and restricted cash | 126,000 | 502,000 | 4,839,000 | -233,000 | 612,000 | 229,000 | 287,000 | 537,000 | |||||||||||||||||
cash, cash equivalents and restricted cash at beginning of the period | 68,193,000 | 105,668,000 | 105,668,000 | 105,668,000 | 130,649,000 | 130,649,000 | 130,649,000 | 115,516,000 | |||||||||||||||||
cash, cash equivalents and restricted cash at end of the period | 73,758,000 | 17,106,000 | 34,424,000 | 68,610,000 | 125,029,000 | 101,025,000 | 120,265,000 | 64,403,000 | |||||||||||||||||
supplemental disclosure of non-cash transactions: | |||||||||||||||||||||||||
fixed asset acquisitions included in accounts payable and accrued expenses | 920,000 | 753,000 | 892,000 | 615,000 | |||||||||||||||||||||
change in estimate of asset retirement obligation | 1,476,000 | ||||||||||||||||||||||||
issuance of shares in connection with acquisition of in-process research and development asset | 249,000 | ||||||||||||||||||||||||
receivable from sale of fixed assets included in other current assets | 9,000 | 125,000 | |||||||||||||||||||||||
supplemental disclosure of cash flow information: | |||||||||||||||||||||||||
cash paid for interest | 2,710,000 | 8,275,000 | 5,557,000 | 2,863,000 | 8,864,000 | 5,891,000 | 2,953,000 | 9,965,000 | 6,989,000 | 1,572,000 | 165,000 | 75,000 | 36,000 | 57,000 | 35,000 | 24,000 | 2,998 | 0 | 14 | 122 | 1,219 | 991 | 553 | 31,531 | 31,531 |
loss on equity method investment | |||||||||||||||||||||||||
gain on sale of nonfinancial assets | -28,434,000 | -29,018,000 | -29,018,000 | ||||||||||||||||||||||
change in lease liabilities | |||||||||||||||||||||||||
proceeds from sale of equipment, furniture and fixtures | 536,000 | 473,000 | |||||||||||||||||||||||
proceeds from sale of nonfinancial assets | 28,434,000 | 29,018,000 | 29,018,000 | ||||||||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | -89,064,000 | -76,083,000 | -36,825,000 | -6,232,000 | -29,853,000 | -10,671,000 | -51,650,000 | ||||||||||||||||||
cash, cash equivalents and restricted cash at beginning of the year | |||||||||||||||||||||||||
cash, cash equivalents and restricted cash at end of the year | |||||||||||||||||||||||||
right-of-use assets obtained in exchange for lease liabilities | 8,200,000 | 1,793,000 | 1,793,000 | 1,793,000 | 4,424,000 | 4,123,000 | 1,120,000 | ||||||||||||||||||
reversal of issuance costs | 50,000 | ||||||||||||||||||||||||
foreign currency gain | -10,753,000 | -2,659,292 | -2,718,400 | ||||||||||||||||||||||
net change in right-of-use assets and liabilities | -73,000 | -138,000 | 71,000 | -158,000 | -100,000 | -36,000 | -153,000 | -104,000 | -24,000 | -85,000 | -98,000 | -50,000 | 161,000 | 95,000 | -35,000 | ||||||||||
gain on disposal of equipment, furniture and fixtures | -122,000 | -38,000 | |||||||||||||||||||||||
change in estimate of asset retirement obligations | 1,576,000 | 370,000 | |||||||||||||||||||||||
fair value adjustment | -53,000 | -53,000 | -54,000 | -615,000 | -649,000 | -397,000 | |||||||||||||||||||
impairment of acquired in-process research and development and right-of-use assets | |||||||||||||||||||||||||
fixed asset acquisition included in accounts payable and accrued expenses | 1,897,000 | 1,181,000 | 1,558,000 | ||||||||||||||||||||||
issuance of shares in connection with asset acquisition | 209,000 | 209,000 | 0 | 0 | |||||||||||||||||||||
proceeds from issuance of note payable | 75,000,000 | ||||||||||||||||||||||||
payment of issuance costs | |||||||||||||||||||||||||
asset retirement obligations incurred in connection with leases | 8,000 | 9,000 | 10,000 | ||||||||||||||||||||||
warrants issued in connection with note payable | 2,273,000 | ||||||||||||||||||||||||
payment of financing fees | -2,051,000 | ||||||||||||||||||||||||
fixed asset acquisition included in accounts payable and accrued expenses at end of the period | 2,941,000 | 2,385,000 | 3,162,000 | 7,598,000 | 7,484,000 | 8,567,000 | |||||||||||||||||||
net decrease in cash and cash equivalents | -23,268,000 | -47,228,000 | -22,935,000 | -65,147,000 | -23,340,000 | -65,293,000 | -36,259,000 | -9,646,000 | |||||||||||||||||
effect of exchange rate changes on cash and cash equivalents | 525,000 | 496,000 | |||||||||||||||||||||||
cash and cash equivalents at beginning of the period | 115,516,000 | 115,516,000 | 137,703,000 | 137,703,000 | 137,703,000 | ||||||||||||||||||||
cash and cash equivalents at end of the period | 92,773,000 | 68,784,000 | 114,706,000 | 72,108,000 | 113,781,000 | ||||||||||||||||||||
issuance of shares in connection with license agreement | |||||||||||||||||||||||||
fair value adjustments | |||||||||||||||||||||||||
payment for right-of-use asset | -8,866,000 | -8,866,000 | -8,866,000 | ||||||||||||||||||||||
equity method and other investments | -5,500,000 | -5,500,000 | -5,500,000 | ||||||||||||||||||||||
effect of exchange rate changes on cash | -62,000 | -448,000 | -582,000 | -593,000 | -705,000 | -464,000 | 546,687 | 366,720 | -173,883 | -315,080 | -302,046 | 417,022 | 577,784 | -243,719 | -214,576 | ||||||||||
cash and cash equivalents at beginning of the year | |||||||||||||||||||||||||
cash and cash equivalents at end of the year | |||||||||||||||||||||||||
issuance of shares in connection with equity method and other investments | 1,165,000 | 1,165,000 | 1,165,000 | ||||||||||||||||||||||
gain on termination of lease liability | -1 | 0 | 0 | -143,589 | |||||||||||||||||||||
purchase of intangible asset | |||||||||||||||||||||||||
cash and cash equivalents at beginning of year | |||||||||||||||||||||||||
cash and cash equivalents at end of year | |||||||||||||||||||||||||
fixed asset acquisition included in accounts payable and accrued expenses at end of year | |||||||||||||||||||||||||
asset retirement obligations in connection with leases | |||||||||||||||||||||||||
security deposits | -372,000 | -374,000 | -212,000 | -26,656 | 0 | 0 | 190,839 | -745,275 | -245,835 | 130,949 | -180,980 | ||||||||||||||
purchase of property and equipment | -21,982,000 | -10,077,000 | -4,502,000 | -8,014,638 | -5,956,938 | -2,916,012 | -4,035,968 | -4,230,740 | -2,206,996 | -2,372,622 | -1,318,016 | ||||||||||||||
cash and cash equivalents at beginning of period | 209,520,000 | 209,520,000 | 209,520,000 | ||||||||||||||||||||||
cash and cash equivalents at end of period | 143,634,000 | 172,556,000 | 199,410,000 | ||||||||||||||||||||||
fixed asset acquisition included in accounts payable and accrued expenses at end of period | 4,027,000 | 3,184,000 | 1,709,000 | 423,210 | 1,030,909 | -2,344,090 | 2,505,098 | 71,473 | 236,535 | 298,551 | |||||||||||||||
ordinary shares issued in connection with license agreement | |||||||||||||||||||||||||
payment for right of use asset | -91,714 | ||||||||||||||||||||||||
purchase of arthrogen, net of acquired cash | |||||||||||||||||||||||||
cash, cash equivalents and restricted cash at beginning of year | |||||||||||||||||||||||||
cash, cash equivalents and restricted cash at end of year | |||||||||||||||||||||||||
issuance of shares in connection with a license agreement | |||||||||||||||||||||||||
issuance of shares in connection with payables | 421,500 | ||||||||||||||||||||||||
reclassification of property and equipment to right-of-use asset | |||||||||||||||||||||||||
asset retirement obligations in connection with a lease | |||||||||||||||||||||||||
depreciation | 1,065,118 | 940,316 | 815,423 | 1,569,098 | 1,036,283 | 499,641 | 1,549,686 | 1,015,079 | |||||||||||||||||
lease obligations | -112,514 | 95,181 | 47,780 | 304,713 | -19,454 | ||||||||||||||||||||
benefit for income taxes | -430,060 | ||||||||||||||||||||||||
cash, cash equivalents and restricted cash at beginning of period | 0 | 0 | 227,356,760 | 68,203,551 | 68,203,551 | 68,203,551 | 8,672,014 | 8,672,014 | |||||||||||||||||
cash, cash equivalents and restricted cash at end of period | -15,476,269 | -15,976,067 | 210,787,248 | 253,453,999 | 204,396,393 | 227,398,515 | 88,684,010 | 102,183,927 | |||||||||||||||||
lease obligations for right-of-use asset | 22,932,582 | 24,462,830 | 10,930,367 | ||||||||||||||||||||||
ordinary shares issued in connection with license agreements | 1,966,340 | 1,966,340 | |||||||||||||||||||||||
proceeds from the sale of ordinary shares | 155,200,007 | 80,000,000 | 80,000,000 | 69,750,000 | 69,750,000 | ||||||||||||||||||||
preferred c shares issued in connection with license agreements | |||||||||||||||||||||||||
deferred rent | -55,460 | -42,095 | |||||||||||||||||||||||
change in fair value of warrant liability | 1,514,775 | 1,514,775 | |||||||||||||||||||||||
issuance of shares for acquired research and development expense | |||||||||||||||||||||||||
due to kadmon | -861,030 | -861,030 | |||||||||||||||||||||||
exercise of warrants | 9,720,000 | 9,720,000 | |||||||||||||||||||||||
proceeds from the sale of convertible preferred c shares | 56,849,592 | 56,849,592 | |||||||||||||||||||||||
issuance costs in connection with convertible preferred c shares | -690,473 | -610,473 | |||||||||||||||||||||||
payment of note payable | -1,442,009 | ||||||||||||||||||||||||
conversion of convertible preferred c shares into ordinary shares | 120,520,391 | 120,520,391 | |||||||||||||||||||||||
reclassification of warrant liability upon exercise of warrants | 4,194,408 | 4,194,408 | |||||||||||||||||||||||
issuance costs in connection with sale of ordinary shares in accounts payable and accrued expenses at end of year | |||||||||||||||||||||||||
amortization of interest on asset retirement obligation | 7,861 | 5,277 | 2,639 | 10,918 | 7,322 | ||||||||||||||||||||
deferred revenue | 93,120,824 | 96,267,249 | 98,692,719 | ||||||||||||||||||||||
proceeds from the sale of convertible preferred c shares, net of issuance costs | |||||||||||||||||||||||||
issuance costs in connection with sale of ordinary shares in accounts payable and accrued expenses at end of period | 1,509,977 | ||||||||||||||||||||||||
other liabilities | -252,322 | ||||||||||||||||||||||||
issuance of convertible preferred c shares in connection with payables | 1,356,129 | 1,356,129 | |||||||||||||||||||||||
issuance costs in connection with sale of convertible preferred c shares included in accrued expenses at end of period | 80,000 | ||||||||||||||||||||||||
shares issued in connection with license agreements | 1,966,340 | ||||||||||||||||||||||||
(increase) in operating assets: | |||||||||||||||||||||||||
preferred c shares issued in connection with a license agreement | 137,658 | 137,973 | |||||||||||||||||||||||
issuance of shares for services | |||||||||||||||||||||||||
convertible note inducement expense | |||||||||||||||||||||||||
issuance of note payable in connection with lease termination | |||||||||||||||||||||||||
payments on capitalized lease obligation | -23,772 | -15,701 | |||||||||||||||||||||||
(payment) issuance of note payable | -1,442,009 | ||||||||||||||||||||||||
proceeds from excercised stock options | |||||||||||||||||||||||||
capitalized lease obligation for equipment purchase | |||||||||||||||||||||||||
conversion of note payable into convertible preferred c shares | |||||||||||||||||||||||||
asset retirement obligation in connection with a lease | |||||||||||||||||||||||||
prepaid expenses and other current assets | -112,440 | 317,130 | |||||||||||||||||||||||
interest payable | |||||||||||||||||||||||||
issuance costs in connection with sale of ordinary shares in accrued expenses at end of period | 309,892 | ||||||||||||||||||||||||
issuance of ordinary shares in connection with a research agreement | |||||||||||||||||||||||||
issuance of long-term note payable |