Nuvalent, Inc.(NASDAQ:NUVL) 
Nuvalent, Inc., a preclinical stage biopharmaceutical company, develops therapies for patients with cancer. Its lead product candidates are NVL-520, a brain-penetrant ROS1-selective inhibitor, designed to inhibit ROS1 fusions that express the normal ROS1 kinase domain without any drug-resistant muta...
Website: http://www.nuvalent.com
Founded: 2017
CEO: James Porter
Sector: Healthcare
Industry: Biotechnology
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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 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating expenses | ||||||||||||||||||||
research and development | 83,608,000 | 67,796,000 | 83,843,000 | 80,913,000 | 74,418,000 | 69,423,000 | 60,551,000 | 49,166,000 | 38,634,000 | 35,585,000 | 29,611,000 | 25,922,000 | 22,125,000 | 22,855,000 | 14,625,000 | 13,558,000 | 12,693,000 | 13,194,000 | 9,055,000 | 7,826,000 |
general and administrative | 35,799,000 | 34,432,000 | 28,853,000 | 23,658,000 | 20,394,000 | 16,876,000 | 15,780,000 | 15,984,000 | 13,954,000 | 10,852,000 | 9,172,000 | 8,140,000 | 8,085,000 | 6,444,000 | 5,763,000 | 5,175,000 | 4,995,000 | 4,184,000 | 3,372,000 | 2,024,000 |
total operating expenses | 119,407,000 | 102,228,000 | 112,696,000 | 104,571,000 | 94,812,000 | 86,299,000 | 76,331,000 | 65,150,000 | 52,588,000 | 46,437,000 | 38,783,000 | 34,062,000 | 30,210,000 | 29,299,000 | 20,388,000 | 18,733,000 | 17,688,000 | 17,378,000 | 12,427,000 | 9,850,000 |
income from operations | -119,407,000 | -102,228,000 | -112,696,000 | -104,571,000 | -94,812,000 | -86,299,000 | -76,331,000 | -65,150,000 | -52,588,000 | -46,437,000 | -38,783,000 | -34,062,000 | -30,210,000 | -29,299,000 | -20,388,000 | -18,733,000 | -17,688,000 | -17,378,000 | -12,427,000 | -9,850,000 |
yoy | 25.94% | 18.46% | 47.64% | 60.51% | 80.29% | 85.84% | 96.82% | 91.27% | 74.07% | 58.49% | 90.22% | 81.83% | 70.79% | 68.60% | 64.06% | 90.18% | ||||
qoq | 16.80% | -9.29% | 7.77% | 10.29% | 9.86% | 13.06% | 17.16% | 23.89% | 13.25% | 19.74% | 13.86% | 12.75% | 3.11% | 43.71% | 8.83% | 5.91% | 1.78% | 39.84% | 26.16% | |
other income | 269,500 | 672,000 | 267,000 | 139,000 | 89,000 | 1,000 | 12,000 | |||||||||||||
change in fair value of related party revenue share liability | -2,570,000 | -27,940,000 | -19,810,000 | -6,040,000 | -1,430,000 | -1,340,000 | -16,600,000 | |||||||||||||
interest income and other income | 12,866,000 | 11,614,000 | 10,201,000 | 11,103,000 | 11,817,000 | 13,047,000 | 8,626,000 | 8,154,000 | 8,489,000 | 8,145,000 | 5,138,000 | 4,972,000 | 5,018,000 | |||||||
total other income | 10,296,000 | -16,326,000 | -9,609,000 | 5,063,000 | 10,387,000 | 11,707,000 | -7,974,000 | 8,154,000 | 8,489,000 | 8,145,000 | 5,138,000 | 4,972,000 | 5,018,000 | 3,176,000 | 672,000 | 267,000 | 139,000 | 89,000 | 1,000 | 12,000 |
income before income taxes | -109,111,000 | -118,554,000 | -122,305,000 | -99,508,000 | -84,425,000 | -74,592,000 | -84,305,000 | -56,996,000 | -44,099,000 | |||||||||||
income tax provision | 168,000 | 151,000 | 132,000 | 145,000 | 157,000 | 171,000 | 40,000 | 170,000 | 383,000 | |||||||||||
net income | -109,279,000 | -118,705,000 | -122,437,000 | -99,653,000 | -84,582,000 | -74,763,000 | -84,345,000 | -57,166,000 | -44,482,000 | -38,292,000 | -33,645,000 | -29,090,000 | -25,192,000 | -26,123,000 | -19,716,000 | -18,466,000 | -17,549,000 | -17,289,000 | -12,426,000 | |
yoy | 29.20% | 58.78% | 45.16% | 74.32% | 90.15% | 95.24% | 150.69% | 96.51% | 76.57% | 46.58% | 70.65% | 57.53% | 43.55% | 51.10% | 58.67% | |||||
qoq | -7.94% | -3.05% | 22.86% | 17.82% | 13.13% | -11.36% | 47.54% | 28.51% | 16.17% | 13.81% | 15.66% | 15.47% | -3.56% | 32.50% | 6.77% | 5.23% | 1.50% | 39.14% | ||
net income per share | -1.39 | -1.58 | -1.7 | -1.39 | -1.18 | -1.06 | -1.28 | -0.88 | -0.69 | -0.62 | -0.59 | -0.51 | -0.44 | -0.5 | -0.41 | -0.38 | -0.36 | 0.13 | -0.39 | -3.17 |
weighted-average shares of class a and class b common stock outstanding, basic and diluted | 78,670,371 | 72,686,749 | 72,143,466 | 71,843,774 | 71,607,546 | 66,408,807 | 65,678,693 | 64,605,308 | ||||||||||||
comprehensive loss | -112,987 | -118,722 | -121,430 | -99,144 | -83,669 | -76,195 | -81,401 | -57,419 | -45,831 | -36,951 | -33,418 | -30,325 | -25,000 | -25,751 | -19,450 | -18,579 | -18,340 | -17,494 | -12,449 | |
other comprehensive income | ||||||||||||||||||||
unrealized gains on marketable securities | -3,708 | -17 | 1,007 | 509 | 913 | -1,432 | 2,944 | -1,349 | 1,341 | 227 | 192 | -159.5 | 266 | |||||||
other comprehensive loss | ||||||||||||||||||||
unrealized losses on marketable securities | -253 | -1,235 | ||||||||||||||||||
weighted-average shares of common stock outstanding, basic and diluted | 64,150,588 | 58,223,339 | 57,091,394 | 56,866,991 | 56,703,873 | 49,668,864 | 48,410,514 | 48,319,067 | 48,284,778 | 21,783,754 | 32,066,089 | 3,106,152 | ||||||||
operating expenses: | ||||||||||||||||||||
other income: | ||||||||||||||||||||
comprehensive loss: | ||||||||||||||||||||
other comprehensive income: | ||||||||||||||||||||
other comprehensive loss: | ||||||||||||||||||||
change in fair value of preferred stock tranche rights | ||||||||||||||||||||
unrealized losses on marketable securities, net of tax of 0 | -113 | -791 | -205 | -23 | ||||||||||||||||
net loss and comprehensive loss | -9,838,000 |
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 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||
current assets | ||||||||||||||||||||
cash and cash equivalents | 159,733,000 | 261,745,000 | 115,752,000 | 127,470,000 | 120,835,000 | 145,691,000 | 369,244,000 | 77,700,000 | 98,515,000 | 335,387,000 | 88,434,000 | 70,872,000 | 90,115,000 | 241,806,000 | 76,313,000 | 75,915,000 | 67,273,000 | 68,526,000 | 245,886,000 | |
marketable securities | 1,127,743,000 | 1,110,207,000 | 827,351,000 | 878,128,000 | 952,390,000 | 972,611,000 | 799,065,000 | 580,294,000 | 593,322,000 | 384,518,000 | 324,824,000 | 360,367,000 | 360,347,000 | 230,357,000 | 163,751,000 | 181,049,000 | 205,461,000 | 219,585,000 | 56,543,000 | |
prepaid expenses and other current assets | 20,461,000 | 20,474,000 | 13,842,000 | 14,012,000 | 13,328,000 | 14,146,000 | 11,366,000 | 8,264,000 | 7,657,000 | 6,583,000 | 6,515,000 | 5,753,000 | 5,831,000 | 5,828,000 | 5,181,000 | 1,858,000 | 1,739,000 | 2,517,000 | 2,710,000 | 362,000 |
total current assets | 1,307,937,000 | 1,392,426,000 | 956,945,000 | 1,019,610,000 | 1,086,553,000 | 1,132,448,000 | 1,179,675,000 | 666,258,000 | 699,494,000 | 726,488,000 | 419,773,000 | 436,992,000 | 456,293,000 | 477,991,000 | 245,245,000 | 258,822,000 | 274,473,000 | 290,628,000 | 305,139,000 | 139,281,000 |
other assets | 23,211,000 | 20,279,000 | 22,965,000 | 20,933,000 | 19,253,000 | 9,304,000 | 9,183,000 | 8,972,000 | 8,972,000 | 5,896,000 | 5,307,000 | 4,956,000 | 4,696,000 | 4,468,000 | 4,313,000 | 4,199,000 | 2,566,000 | 3,196,000 | 2,834,000 | 2,503,000 |
total assets | 1,331,148,000 | 1,412,705,000 | 979,910,000 | 1,040,543,000 | 1,105,806,000 | 1,141,752,000 | 1,188,858,000 | 675,230,000 | 708,466,000 | 732,384,000 | 425,080,000 | 441,948,000 | 460,989,000 | 482,459,000 | 249,558,000 | 263,021,000 | 277,039,000 | 293,824,000 | 307,973,000 | 143,502,000 |
liabilities and stockholders’ equity | ||||||||||||||||||||
current liabilities | ||||||||||||||||||||
accounts payable | 22,136,000 | 30,158,000 | 22,010,000 | 13,342,000 | 26,165,000 | 5,225,000 | 15,934,000 | 7,403,000 | 13,396,000 | 9,274,000 | 9,781,000 | 8,117,000 | 6,433,000 | 7,195,000 | 4,620,000 | 4,028,000 | 4,246,000 | 2,893,000 | 2,532,000 | 3,798,000 |
accrued expenses and other current liabilities | 58,915,000 | 61,013,000 | 67,141,000 | 61,805,000 | 48,869,000 | |||||||||||||||
total current liabilities | 81,051,000 | 91,171,000 | 89,151,000 | 75,147,000 | 75,034,000 | 54,020,000 | 51,132,000 | 38,192,000 | 33,427,000 | 31,823,000 | 29,103,000 | 20,795,000 | 17,021,000 | 19,481,000 | 12,975,000 | 10,036,000 | 8,124,000 | 8,787,000 | 6,842,000 | 5,829,000 |
related party revenue share liability | 75,730,000 | 73,160,000 | 45,220,000 | 25,410,000 | 19,370,000 | 17,940,000 | 16,600,000 | |||||||||||||
other liabilities | 35,000 | 140,000 | 244,000 | 345,000 | ||||||||||||||||
total liabilities | 156,781,000 | 164,366,000 | 134,511,000 | 100,801,000 | 94,749,000 | 71,960,000 | 67,732,000 | 38,192,000 | 33,427,000 | 31,823,000 | 29,103,000 | 20,795,000 | 17,021,000 | 19,481,000 | 12,975,000 | 10,036,000 | 8,124,000 | 8,787,000 | 6,842,000 | 5,829,000 |
commitments and contingencies | ||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||
preferred stock, 0.0001 par value... | ||||||||||||||||||||
class a common stock, 0.0001 par value... | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 7,000 | 6,000 | 6,000 | 6,000 | 5,000 | 5,000 | 5,000 | 5,000 | 4,000 | 4,000 | 4,000 | 4,000 | 4,000 | |
class b convertible common stock, 0.0001 par value... | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | ||||||||||||||
additional paid-in capital | 2,257,422,000 | 2,218,407,000 | 1,696,745,000 | 1,669,658,000 | 1,641,829,000 | 1,616,895,000 | 1,592,034,000 | 1,026,546,000 | 1,007,128,000 | 986,819,000 | 645,285,000 | 637,043,000 | 629,533,000 | 623,543,000 | 371,398,000 | 368,350,000 | 365,701,000 | 363,483,000 | 362,083,000 | 1,052,000 |
accumulated other comprehensive income | -1,355,000 | 2,353,000 | 2,370,000 | 1,363,000 | 854,000 | -59,000 | 1,373,000 | -1,571,000 | -1,318,000 | 31,000 | ||||||||||
accumulated deficit | -1,081,708,000 | -972,429,000 | -853,724,000 | -731,287,000 | -631,634,000 | -547,052,000 | -472,289,000 | -387,944,000 | -330,778,000 | -286,296,000 | -248,004,000 | -214,359,000 | -185,269,000 | -160,077,000 | -133,954,000 | -114,238,000 | -95,772,000 | -78,223,000 | -60,934,000 | -48,508,000 |
total stockholders’ equity | 1,174,367,000 | 1,248,339,000 | 845,399,000 | 939,742,000 | 1,011,057,000 | 1,069,792,000 | 1,121,126,000 | 637,038,000 | 675,039,000 | 700,561,000 | 395,977,000 | 421,153,000 | 443,968,000 | 462,978,000 | 252,985,000 | 268,915,000 | 285,037,000 | 301,131,000 | ||
total liabilities and stockholders’ equity | 1,331,148,000 | 1,412,705,000 | 979,910,000 | 1,040,543,000 | 1,105,806,000 | 1,141,752,000 | 1,188,858,000 | 675,230,000 | 708,466,000 | 732,384,000 | 425,080,000 | 441,948,000 | 460,989,000 | 482,459,000 | 263,021,000 | 277,039,000 | ||||
accrued expenses | 48,795,000 | 35,198,000 | 30,789,000 | 20,031,000 | 22,549,000 | 19,322,000 | 12,678,000 | 10,588,000 | 12,286,000 | 8,355,000 | 6,008,000 | 3,878,000 | 5,894,000 | 4,310,000 | 2,031,000 | |||||
class b common stock, 0.0001 par value... | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||||
current assets: | ||||||||||||||||||||
current liabilities: | ||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||
accumulated other comprehensive loss | -1,310,000 | -1,537,000 | -302,000 | -494,000 | -866,000 | -1,132,000 | -1,019,000 | -228,000 | -23,000 | |||||||||||
liabilities and stockholders' equity | ||||||||||||||||||||
stockholders' equity: | ||||||||||||||||||||
total stockholders' equity | 236,583,000 | |||||||||||||||||||
total liabilities and stockholders' equity | 249,558,000 | |||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ equity | ||||||||||||||||||||
preferred stock tranche rights | ||||||||||||||||||||
notes payable and accrued interest to stockholder | ||||||||||||||||||||
convertible preferred stock (series a and b), 0.0001 par value... | 185,413,000 | |||||||||||||||||||
promissory note from stockholder | -284,000 | |||||||||||||||||||
total liabilities, convertible preferred stock and stockholders’ equity | 293,824,000 | 307,973,000 | ||||||||||||||||||
cash | 138,919,000 | |||||||||||||||||||
deferred offering costs | 1,718,000 | |||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ deficit | ||||||||||||||||||||
stockholders’ deficit: | ||||||||||||||||||||
common stock, 0.0001 par value... | ||||||||||||||||||||
total stockholders’ deficit | -47,740,000 | |||||||||||||||||||
total liabilities, convertible preferred stock and stockholders’ deficit | 143,502,000 |
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 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||
net loss | -109,279,000 | -118,705,000 | -122,437,000 | -99,653,000 | -84,582,000 | -74,763,000 | -84,345,000 | -57,166,000 | -44,482,000 | -38,292,000 | -33,645,000 | -29,090,000 | -25,192,000 | -26,123,000 | -19,716,000 | -18,466,000 | -17,549,000 | -17,289,000 | |
adjustments to reconcile net loss to net cash from operating activities | |||||||||||||||||||
stock-based compensation expense | 28,880,000 | 21,734,000 | 22,314,000 | 22,074,000 | 20,380,000 | 16,138,000 | 15,459,000 | 15,125,000 | 13,857,000 | 7,490,000 | 6,854,000 | 5,848,000 | 5,371,000 | 3,017,000 | 2,654,000 | 2,449,000 | 2,205,000 | 1,388,000 | 1,373,000 |
net accretion on marketable securities | -1,830,000 | -1,930,000 | -2,187,000 | -2,707,000 | -4,283,000 | -4,933,000 | -2,921,000 | -3,433,000 | -3,382,000 | ||||||||||
change in fair value of related party revenue share liability | 2,570,000 | 27,940,000 | 19,810,000 | 6,040,000 | 1,430,000 | 1,340,000 | |||||||||||||
other non-cash | 120,000 | 116,000 | 99,000 | 98,000 | 32,000 | ||||||||||||||
changes in operating assets and liabilities | |||||||||||||||||||
prepaid expenses and other current assets | -3,000 | -6,646,000 | 170,000 | -684,000 | 818,000 | -2,780,000 | -3,102,000 | -607,000 | -1,074,000 | -68,000 | 637,000 | 78,000 | -3,000 | -647,000 | -1,503,000 | -119,000 | 778,000 | 193,000 | -396,000 |
other assets | -3,036,000 | 2,584,000 | -2,131,000 | -1,778,000 | -9,183,000 | -121,000 | -211,000 | 0 | -3,076,000 | -589,000 | -351,000 | -260,000 | -228,000 | -155,000 | -114,000 | -1,633,000 | 630,000 | -362,000 | -331,000 |
accounts payable | -7,688,000 | 7,814,000 | 8,668,000 | -12,823,000 | 20,940,000 | -10,629,000 | 8,451,000 | -5,993,000 | 4,122,000 | -507,000 | 1,664,000 | 1,684,000 | -672,000 | 2,485,000 | 592,000 | -218,000 | 1,353,000 | 732,000 | -914,000 |
accrued expenses and other liabilities | -2,133,000 | -6,235,000 | 5,232,000 | 12,835,000 | -373,000 | ||||||||||||||
net cash from operating activities | -92,399,000 | -73,328,000 | -70,462,000 | -76,598,000 | -54,821,000 | -62,000,000 | -45,817,000 | -41,160,000 | -36,087,000 | -30,209,000 | -22,981,000 | -22,135,000 | -24,414,000 | -17,779,000 | -18,175,000 | -15,475,000 | -13,542,000 | -12,955,000 | -11,400,000 |
capital expenditures | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | -92,399,000 | -73,328,000 | -70,462,000 | -76,598,000 | -54,821,000 | -62,000,000 | -45,817,000 | -41,160,000 | -36,087,000 | -30,209,000 | -22,981,000 | -22,135,000 | -24,414,000 | -17,779,000 | -18,175,000 | -15,475,000 | -13,542,000 | -12,955,000 | -11,400,000 |
cash flows from investing activities | |||||||||||||||||||
purchases of marketable securities | -200,963,000 | -444,043,000 | -178,472,000 | -158,074,000 | -277,177,000 | -312,495,000 | -340,619,000 | -88,830,000 | -283,019,000 | -166,722,000 | -23,205,000 | -81,611,000 | -187,948,000 | -162,623,000 | -19,560,000 | -16,790,000 | -13,943,000 | -164,476,000 | |
proceeds from maturities of marketable securities | 181,549,000 | 235,552,000 | 302,594,000 | 105,038,000 | 76,248,000 | ||||||||||||||
net cash from investing activities | -19,414,000 | -280,943,000 | 53,971,000 | 77,478,000 | 25,417,000 | -170,045,000 | -212,906,000 | 16,208,000 | -206,771,000 | -56,261,000 | 38,400,000 | 1,594,000 | -127,260,000 | -65,401,000 | 17,567,000 | 24,112,000 | 13,057,000 | -163,461,000 | |
cash flows from financing activities | |||||||||||||||||||
proceeds from issuance of common stock | 10,135,000 | 500,640,000 | 4,773,000 | 5,755,000 | 4,554,000 | 8,787,000 | 550,455,000 | 4,293,000 | 6,452,000 | ||||||||||
payments of equity issuance costs | -334,000 | -376,000 | 0 | 0 | -6,000 | -295,000 | |||||||||||||
net cash from financing activities | 9,801,000 | 500,264,000 | 4,773,000 | 5,755,000 | 4,548,000 | 8,492,000 | 550,267,000 | 4,137,000 | 5,986,000 | 333,423,000 | 2,143,000 | 1,298,000 | -17,000 | 248,673,000 | 1,006,000 | 5,000 | -768,000 | -944,000 | 174,934,000 |
net decrease in cash and cash equivalents | -102,012,000 | 6,635,000 | -24,856,000 | -20,815,000 | -236,872,000 | -151,691,000 | |||||||||||||
cash and cash equivalents at beginning of period | 261,745,000 | 0 | 0 | 0 | 145,691,000 | 0 | 0 | 0 | 335,387,000 | 0 | 0 | 0 | 241,806,000 | 0 | 0 | 0 | 68,526,000 | 0 | 0 |
cash and cash equivalents at end of period | 159,733,000 | 145,993,000 | -11,718,000 | 6,635,000 | 120,835,000 | -223,553,000 | 291,544,000 | -20,815,000 | 98,515,000 | 246,953,000 | 17,562,000 | -19,243,000 | 90,115,000 | 165,493,000 | 398,000 | 8,642,000 | 67,273,000 | -177,360,000 | 106,967,000 |
supplemental disclosure of noncash investing and financing information: | |||||||||||||||||||
operating lease right-of-use asset | 0 | 0 | 0 | 798,000 | |||||||||||||||
proceeds from maturities and sales of marketable securities | 163,100,000 | 142,450,000 | |||||||||||||||||
payments of insurance costs financed by a third-party | 0 | 0 | -156,000 | -466,000 | -622,000 | 755,000 | -364,000 | -546,000 | -546,000 | 612,000 | -195,000 | -781,000 | -585,000 | ||||||
net increase in cash and cash equivalents | 145,993,000 | -223,553,000 | 246,953,000 | 17,562,000 | 165,493,000 | 398,000 | 8,642,000 | -1,253,000 | -177,360,000 | 106,967,000 | |||||||||
equity issuance costs | -231,000 | ||||||||||||||||||
insurance premium financed by a third-party | 0 | 0 | 0 | ||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||
accrued expenses | 13,748,000 | 4,252,000 | 10,914,000 | -2,052,000 | 3,849,000 | 4,490,000 | 2,454,000 | -1,152,000 | 4,477,000 | -85,000 | 2,325,000 | -1,235,000 | 2,169,000 | 1,293,000 | |||||
supplemental disclosure of noncash financing information: | |||||||||||||||||||
payments of public offering costs | |||||||||||||||||||
cash flows from operating activities: | |||||||||||||||||||
net accretion of discounts on marketable securities | |||||||||||||||||||
changes in operating assets and liabilities: | |||||||||||||||||||
cash flows from investing activities: | |||||||||||||||||||
proceeds from sales and maturities of marketable securities | 110,461,000 | 61,605,000 | 83,205,000 | 60,688,000 | 97,222,000 | 37,127,000 | 40,902,000 | 27,000,000 | |||||||||||
cash flows from financing activities: | |||||||||||||||||||
proceeds from public offerings, net of underwriting discounts and commissions | |||||||||||||||||||
proceeds from exercise of stock options | |||||||||||||||||||
proceeds from issuance of common stock under employee stock purchase plan | 194,000 | 0 | |||||||||||||||||
public offering costs included in accounts payable | |||||||||||||||||||
net amortization of premiums on marketable securities | -2,630,000 | -2,849,000 | -2,538,000 | -833,000 | -3,000 | 187,000 | 276,000 | 214,000 | |||||||||||
proceeds from issuance of common stock upon option exercise | 1,388,000 | 1,469,000 | 619,000 | 394,000 | 200,000 | 13,000 | |||||||||||||
payments of offering costs | 0 | 0 | -90,000 | ||||||||||||||||
change in fair value of preferred stock tranche rights | 0 | 0 | |||||||||||||||||
non-cash interest income on promissory note | 0 | 0 | |||||||||||||||||
proceeds from issuance of convertible preferred stock and preferred stock tranche rights, net of issuance costs | 0 | 0 | |||||||||||||||||
proceeds from repayment of promissory note to stockholder | 0 | ||||||||||||||||||
settlement of notes payable and accrued interest for preferred stock | 0 | 0 | |||||||||||||||||
conversion of convertible preferred stock to common stock upon initial public offering | 0 | ||||||||||||||||||
loss on extinguishment of debt | 0 | 0 | |||||||||||||||||
settlement of preferred stock tranche rights | 0 | 0 | |||||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions | 0 | ||||||||||||||||||
payments of initial public offering costs | -371,000 | -2,229,000 | |||||||||||||||||
initial public offering costs in accounts payable | |||||||||||||||||||
initial public offering costs in accrued expenses and other current liabilities | |||||||||||||||||||
issuance of promissory note to stockholder | |||||||||||||||||||
net income | |||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||
issuance of promissory note to founder | |||||||||||||||||||
deferred offering costs in accounts payable and accrued expenses | |||||||||||||||||||
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