7Baggers

PMV Pharmaceuticals, Inc
(NASDAQ:PMVP) 

PMVP stock logo

PMV Pharmaceuticals, Inc., a precision oncology company, engages in the discovery and development of small molecule, tumor-agnostic therapies for p53 mutations in cancer. The company's lead product candidate is PC14586, a small molecule that corrects a p53 protein containing the Y220C mutation and r...

Full Time Employees: 39
CEO: David H. Mack  
Sector: Healthcare
Industry: Biotechnology
Pharmaceuticals
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 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 
                           
      operating expenses:
    		                       
      research and development
    		15,330,000 15,827,000 18,210,000 18,400,000 17,441,000 13,767,000 16,947,000 14,628,000 13,186,000 13,382,000 13,586,000 13,843,000 15,073,000 15,025,000 13,666,000 11,462,000 11,836,000 12,167,000 9,162,000 7,664,000 7,500,000 6,181,000 5,992,000 
      general and administrative
    		3,689,000 3,415,000 4,312,000 4,479,000 4,123,000 11,401,000 4,941,000 5,542,000 5,035,000 5,520,000 6,042,000 6,279,000 6,407,000 6,137,000 5,709,000 6,423,000 6,783,000 6,305,000 5,935,000 5,386,000 4,174,000 4,320,000 2,709,000 
      total operating expenses
    		19,019,000 19,242,000 22,522,000 22,879,000 21,564,000 25,168,000 21,888,000 20,170,000 18,221,000 18,902,000 19,628,000 20,122,000 21,480,000 21,162,000 19,375,000 17,885,000 18,619,000 18,472,000 15,097,000 13,050,000 11,674,000 10,501,000 8,701,000 
      income from operations
    		-19,019,000 -19,242,000 -22,522,000 -22,879,000 -21,564,000 -25,168,000 -21,888,000 -20,170,000 -18,221,000 -18,902,000 -19,628,000 -20,122,000 -21,480,000 -21,162,000 -19,375,000 -17,885,000 -18,619,000 -18,472,000 -15,097,000 -13,050,000 -11,674,000 -10,501,000 -8,701,000 
      yoy
    		-11.80% -23.55% 2.90% 13.43% 18.35% 33.15% 11.51% 0.24% -15.17% -10.68% 1.31% 12.51% 15.37% 14.56% 28.34% 37.05% 59.49% 75.91% 73.51%     
      qoq
    		-1.16% -14.56% -1.56% 6.10% -14.32% 14.99% 8.52% 10.70% -3.60% -3.70% -2.46% -6.32% 1.50% 9.22% 8.33% -3.94% 0.80% 22.36% 15.69% 11.79% 11.17% 20.69%  
      other income:
    		                       
      interest income
    		980,000 1,232,000 1,480,000 1,690,000 1,935,000 2,287,000 2,615,000 2,801,000 2,952,000 3,166,000 2,984,000 2,696,000 2,325,000 1,797,000 1,124,000 604,000 229,000 106,000 102,000 113,000 128,000 48,000 40,000 
      other income
    		1,000 -1,000 -23,000   -119,000 121,000 -17,000 -1,000 -21,000 4,000 -6,000 27,000 20,000 13,000 -31,000  7,000 3,000 63,000    
      total other income
    		981,000 1,231,000 1,457,000 1,674,000 1,931,000 2,168,000 2,736,000 2,784,000 2,951,000 3,145,000 2,988,000 2,690,000 2,352,000 1,817,000 1,137,000 573,000 188,000 113,000 105,000 176,000 76,000 48,000 -60,000 
      income before provision for income taxes
    		-18,038,000 -18,011,000 -21,065,000 -21,205,000 -19,633,000 -23,000,000 -19,152,000 -17,386,000 -15,270,000 -15,757,000 -16,640,000 -17,432,000 -19,128,000 -19,345,000 -18,238,000 -17,312,000 -18,431,000 -18,359,000 -14,992,000 -12,874,000 -11,598,000 -10,453,000 -8,761,000 
      provision for income taxes
    		 26,000 -6,000 5,000 -2,197,000  74,000   -1,000  4,000   -9,000 -2,000 2,000  19,000  4,000 1,000 3,000 
      net income
    		-18,038,000 -18,037,000 -21,059,000 -21,210,000 -17,436,000 -23,000,000 -19,226,000 -1,213,000 -15,270,000 -15,756,000 -16,640,000 -17,436,000 -19,128,000 -19,345,000 -18,229,000 -17,310,000 -18,433,000 -18,359,000 -15,011,000 -12,874,000 -11,602,000 -10,454,000 -8,764,000 
      yoy
    		3.45% -21.58% 9.53% 1648.56% 14.18% 45.98% 15.54% -93.04% -20.17% -18.55% -8.72% 0.73% 3.77% 5.37% 21.44% 34.46% 58.88% 75.62% 71.28%     
      qoq
    		0.01% -14.35% -0.71% 21.64% -24.19% 19.63% 1485.00% -92.06% -3.08% -5.31% -4.57% -8.85% -1.12% 6.12% 5.31% -6.09% 0.40% 22.30% 16.60% 10.96% 10.98% 19.28%  
      unrealized loss on available for sale investments, net of tax
    		-101,000    -62,000                   
      foreign currency translation gain
    		2,000 1,000 1,000 -2,000 7,000 -6,250 4,000 5,000                
      total other comprehensive loss
    		-99,000   -63,000 -55,000                   
      total comprehensive loss
    		-18,137,000 -18,044,000 -20,989,000 -21,273,000 -17,491,000 -23,271,000 -18,631,000 -1,269,000 -15,623,000               
      net income per share
    		-0.34 -0.34 -0.4 -0.41 -0.34 -0.45 -0.37 -0.02 -0.3 -0.31 -0.34 -0.38 -0.42 -0.43 -0.4 -0.38 -0.41 -0.4 -0.33 -0.29 -0.26 3.53 -1.46 
      weighted-average common shares outstanding
    		53,331,766 52,541,613 52,993,238 52,010,827 51,952,062 51,578,807 51,574,027 51,478,751 51,445,862 48,014,645 49,047,296 45,813,132 45,773,357 45,594,824 45,622,957 45,571,067 45,466,044 45,137,656 45,295,232 45,070,104 44,785,226 14,364,475 6,022,457 
      unrealized gain on available for sale investments, net of tax
    		 -8,000 69,000   -261,000 591,000 -61,000 -319,000 545,000 -27,000 -212,000 329,000 580,000 -2,000         
      total other comprehensive income
    		 -7,000 70,000   -271,000 595,000 -56,000 -353,000               
      other expense
    		   -16,000 -4,000            -41,000    -52,000 -35,750 -100,000 
      unrealized (loss) on available for sale investments, net of tax
    		   -61,000                    
      provision income taxes
    		       -16,173,000                
      income taxes
    		                       
      foreign currency translation loss
    		        -34,000               
      comprehensive loss
    		         -13,278,500 -16,667,000 -17,648,000 -18,799,000 -18,765,000 -18,231,000 -17,667,000 -19,021,000 -18,451,000 -15,004,000 -12,854,000 -11,615,000 -10,454,000 -8,769,000 
      unrealized gain on marketable securities, net of tax
    		               -357,000        
      unrealized loss on marketable securities, net of tax
    		                -588,000       
      unrealized gains (loss) on marketable securities, net of tax
    		                 3,500 7,000     
      unrealized gains on marketable securities, net of tax
    		                   20,000   -5,000 
      unrealized losses on marketable securities, net of tax
    		                    -13,000   
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 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 
                             
        assets
      		                       
        current assets:
      		                       
        cash and cash equivalents
      		39,130,000 37,983,000 36,337,000 44,127,000 51,341,000 40,876,000 48,810,000 48,526,000 47,654,000 37,706,000 52,057,000 68,209,000 142,942,000 108,297,000 99,850,000 87,090,000 115,772,000 172,467,000 176,641,000 189,423,000 208,783,000 361,422,000 373,150,000 
        marketable securities, current
      		54,419,000 74,960,000 92,913,000 98,147,000 109,047,000 128,578,000 134,031,000 164,393,000 150,285,000 165,351,000 149,861,000 118,878,000 86,492,000 132,757,000 159,007,000 190,344,000 167,221,000 124,696,000 131,010,000 128,926,000 122,706,000   
        prepaid expenses and other current assets
      		2,231,000 2,284,000 3,199,000 3,037,000 3,111,000 6,204,000 5,957,000 5,048,000 3,699,000 3,530,000 2,556,000 2,504,000 3,022,000 5,130,000 5,497,000 3,609,000 4,225,000 3,301,000 5,082,000 3,909,000 3,464,000 3,339,000 522,000 
        total current assets
      		95,780,000 115,227,000 132,449,000 145,311,000 163,499,000 175,658,000 189,620,000 218,789,000 202,460,000 207,409,000 205,296,000 190,413,000 233,278,000 247,006,000 265,176,000 281,865,000 288,040,000 301,286,000 313,555,000 323,080,000 334,953,000 364,761,000 373,672,000 
        property and equipment
      		203,000 237,000 255,000 287,000 376,000 409,000 10,130,000 10,530,000 10,903,000 10,666,000 10,822,000 11,136,000 11,238,000 10,955,000 9,966,000 8,721,000 5,238,000 3,090,000 1,394,000 1,253,000 697,000 569,000 573,000 
        right-of-use assets
      		283,000 801,000 891,000 977,000 1,061,000 1,143,000 8,407,000 8,038,000 8,211,000 8,382,000 8,545,000 8,729,000 9,130,000 9,539,000 9,535,000 9,670,000        
        other assets
      		296,000 297,000 249,000 248,000 237,000 235,000 242,000 182,000 182,000 190,000 180,000 181,000 314,000 313,000 307,000 308,000 221,000 221,000 218,000 201,000 1,024,000 201,000 201,000 
        total assets
      		96,562,000 116,562,000 133,844,000 152,855,000 170,608,000 191,288,000 223,495,000 237,539,000 236,876,000 252,152,000 261,027,000 242,216,000 253,960,000 270,308,000 284,984,000 300,564,000 315,008,000 331,568,000 344,178,000 355,910,000 354,393,000 365,531,000 374,446,000 
        liabilities and stockholders’ equity
      		                       
        current liabilities:
      		                       
        accounts payable
      		1,631,000 3,155,000 3,399,000 2,598,000 3,593,000 6,579,000 2,063,000 4,533,000 859,000 3,237,000 1,678,000 3,489,000 1,774,000 2,996,000 4,826,000 3,348,000 4,864,000 3,189,000 1,278,000 2,369,000 1,252,000 1,607,000 548,000 
        accrued expenses
      		6,671,000 7,857,000 8,515,000 8,632,000 5,802,000 7,439,000 10,257,000 5,701,000 10,319,000 9,940,000 9,038,000 7,940,000 8,535,000 7,308,000 6,436,000 7,652,000 6,563,000 8,627,000 6,740,000 4,458,000 3,878,000 4,803,000 4,928,000 
        operating lease liabilities, current
      		293,000 403,000 390,000 377,000 364,000 352,000 1,243,000 1,151,000 880,000 852,000  18,000 281,000 528,000 394,000 383,000        
        total current liabilities
      		8,595,000 11,415,000 12,304,000 11,607,000 9,759,000 14,370,000 13,563,000 11,385,000 12,058,000 14,029,000 10,716,000 11,447,000 10,590,000 10,832,000 11,656,000 11,383,000 11,685,000 12,219,000 8,563,000 7,504,000 5,796,000 6,410,000 5,476,000 
        operating lease liabilities, noncurrent
      		 435,000 541,000 643,000 742,000 838,000 12,024,000 11,839,000 12,142,000 12,434,000 12,699,000 12,960,000 13,197,000 13,448,000 12,135,000 12,211,000        
        total liabilities
      		8,595,000 11,850,000 12,845,000 12,250,000 10,501,000 15,208,000 25,587,000 23,224,000 24,200,000 26,463,000 23,415,000 24,407,000 23,787,000 24,280,000 23,791,000 23,594,000 23,165,000 23,009,000 19,230,000 18,063,000 6,098,000 6,410,000 5,476,000 
        commitments and contingencies
      		                       
        stockholders’ equity:
      		                       
        preferred stock, 0.00001 par value...
      		                       
        common stock, 0.00001 par value...
      		                       
        additional paid-in capital
      		552,474,000 551,082,000 549,325,000 547,942,000 546,171,000 544,653,000 543,210,000 540,986,000 538,078,000 535,468,000 532,214,000 495,744,000 490,460,000 487,516,000 483,916,000 481,462,000 478,668,000 476,363,000 474,301,000 472,196,000 469,790,000 469,001,000 468,396,000 
        accumulated deficit
      		-464,492,000 -446,454,000 -428,417,000 -407,358,000 -386,148,000 -368,712,000 -345,712,000 -326,486,000 -325,273,000 -310,003,000 -294,247,000 -277,607,000 -260,171,000 -241,043,000 -221,698,000 -203,469,000 -186,159,000 -167,726,000 -149,367,000 -134,356,000 -121,482,000 -109,880,000 -99,426,000 
        accumulated other comprehensive income
      		-15,000 84,000 91,000 21,000 84,000 139,000 410,000 -185,000 -129,000 224,000         14,000     
        total stockholders’ equity
      		87,967,000 104,712,000 120,999,000 140,605,000 160,107,000 176,080,000 197,908,000 214,315,000 212,676,000  237,612,000 217,809,000 230,173,000  261,193,000 276,970,000 291,843,000  324,948,000 337,847,000 348,295,000 359,121,000 368,970,000 
        total liabilities and stockholders’ equity
      		96,562,000 116,562,000 133,844,000 152,855,000 170,608,000 191,288,000 223,495,000 237,539,000 236,876,000 252,152,000 261,027,000 242,216,000 253,960,000 270,308,000 284,984,000 300,564,000 315,008,000 331,568,000 344,178,000 355,910,000 354,393,000   
        marketable securities, noncurrent
      		   6,032,000 5,435,000 13,843,000 15,096,000  15,120,000 25,505,000 36,184,000 31,757,000  2,495,000   11,773,000 16,911,000 18,601,000 20,613,000 16,891,000   
        restricted cash
      		      822,000 822,000 822,000 822,000 822,000 822,000 822,000 822,000 822,000 822,000 822,000 822,000 822,000 822,000    
        stockholders' equity:
      		                       
        total stockholders' equity
      		         225,689,000    246,028,000    308,559,000      
        accumulated other comprehensive loss
      		          -355,000 -328,000 -116,000 -445,000 -1,025,000 -1,023,000 -666,000 -78,000  7,000 -13,000   
        right-of-use assets, operating leases
      		                9,736,000 10,060,000 10,410,000 10,763,000 828,000   
        operating lease liability, current
      		                258,000 403,000 545,000 677,000 666,000   
        operating lease liability, noncurrent
      		                11,480,000 10,790,000 10,667,000 10,559,000 302,000   
        current assets
      		                       
        short-term marketable securities
      		                       
        liabilities, convertible preferred stock, and stockholders’ equity
      		                       
        current liabilities
      		                       
        other liabilities
      		                       
        convertible preferred stock, accumulated liquidation value of 0 and 169,385 at december 31, 2020 and 2019, respectively
      		                       
        stockholders’ equity
      		                       
        total liabilities, convertible preferred stock, and stockholders’ equity
      		                     365,531,000 374,446,000 
        convertible preferred stock, accumulated liquidation value of 0 and 169,385 at september 30, 2020 (unaudited) and december 31, 2019, respectively
      		                       
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 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 
                              
          cash flows from operating activities:
        		                      
          net loss
        		-18,038,000 -18,037,000 -21,059,000 -21,210,000 -17,436,000 -23,000,000 -19,226,000 -1,213,000 -15,270,000 -15,756,000 -16,640,000 -17,436,000 -19,128,000 -19,345,000 -18,229,000 -17,310,000 -18,433,000 -18,359,000 -15,011,000 -12,874,000 -11,602,000 -10,454,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                      
          stock-based compensation expense
        		1,392,000 1,365,000 1,383,000 1,668,000 1,508,000 1,271,000 2,224,000 2,767,000 2,610,000 2,966,000 3,324,000 3,153,000 2,932,000 3,052,000         
          depreciation
        		34,000 33,000 31,000 32,000 37,000 39,000 371,000 372,000 362,000 359,000 358,000 369,000 171,000 75,000 74,000 82,000 84,000 77,000 80,000 71,000 79,000 61,000 
          accretion of discounts on marketable securities
        		-385,000 -513,000 -694,000 -724,000 -840,000 -1,132,000 -1,235,000 -1,376,000 -1,628,000              
          non cash lease income
        		-2,000                      
          gain on termination of lease
        		-24,000                      
          loss on sales and disposals of fixed assets
        		 0 -1,000                    
          other
        		1,000 -47,000 1,000 -14,000 -2,000 8,000 -59,000 -1,000 8,000    -1,000 -6,000 2,000   -2,000    -1,000 
          change in operating assets and liabilities:
        		                      
          prepaid expenses and other assets
        		53,000 915,000 -162,000 79,000 3,088,000 -247,000 -909,000 -1,349,000 -169,000 -984,000 -51,000 650,000 2,108,000 367,000 -1,888,000 616,000 -924,000 1,781,000 -1,173,000 378,000 -948,000 -2,817,000 
          accounts payable
        		-1,524,000 -244,000 801,000 -995,000 -2,986,000 4,516,000 -2,470,000 3,680,000 -2,384,000 1,553,000 -1,811,000 2,013,000 -1,520,000 -1,256,000 2,209,000 -1,581,000 239,000 576,000 -1,147,000 1,117,000 -355,000 1,595,000 
          accrued expenses
        		-1,186,000 -658,000 -117,000 2,830,000 -1,637,000 -2,818,000 4,556,000 -4,618,000 379,000 902,000 1,098,000 -595,000 1,227,000 872,000 -1,216,000 1,089,000 -2,064,000 1,711,000 2,617,000 438,000 -872,000 720,000 
          net cash from operating activities
        		-19,679,000 -17,189,000 -19,820,000 -18,302,000 -18,266,000 -16,661,000 -16,839,000 -1,598,000 -16,184,000 -12,085,000 -15,659,000 -12,901,000 -15,012,000 -15,324,000 -16,759,000 -13,679,000 -17,998,000 -12,028,000 -12,398,000 -9,241,000 -12,904,000 -10,312,000 
          capital expenditures
        		 -15,000 1,000 -11,000  -56,000 -1,000 -4,000 -588,000 -197,000 -44,000 -565,000 142,000 -2,212,000 -731,000 -3,435,000 640,000 0 -501,000 -466,000 -120,000 0 
          free cash flows
        		 -17,204,000 -19,819,000 -18,313,000  -16,717,000 -16,840,000 -1,602,000 -16,772,000 -12,282,000 -15,703,000 -13,466,000 -14,870,000 -17,536,000 -17,490,000 -17,114,000 -17,358,000 -12,028,000 -12,899,000 -9,707,000 -13,024,000 -10,312,000 
          cash flows from investing activities:
        		                      
          purchases of property and equipment
        		 -15,000 1,000 -11,000 -4,000 -56,000 -1,000 -4,000 -594,000 -197,000 -44,000 -565,000 -156,000 -1,638,000         
          purchases of marketable securities
        		-10,676,000 -21,041,000 -20,473,000 -30,962,000 -15,727,000 -37,513,000 -39,399,000 -40,885,000 -30,489,000 -33,392,000 -57,595,000 -106,050,000 -23,502,000 -34,687,000         
          maturities of marketable securities
        		31,500,000 39,500,000 32,499,000 41,929,000 44,445,000 45,091,000 56,490,000 43,212,000 57,249,000 31,001,000 24,000,000 42,652,000 73,303,000 59,548,000 76,852,000 43,739,000 55,676,000 29,499,000 49,751,000   0 
          net cash from investing activities
        		20,824,000    28,714,000    26,166,000 -2,588,000 -33,639,000 -63,963,000 49,645,000 23,223,000 29,513,000 -15,279,000 -38,825,000 7,559,000 -693,000 -10,553,000 -139,897,000 -57,000 
          cash flows from financing activities:
        		                      
          proceeds from the exercise of stock options
        		    10,000                  
          net cash from financing activities
        		 392,000 0 103,000 10,000 172,000 0   288,000 33,146,000 2,131,000 12,000 548,000 6,000 276,000 128,000 295,000 309,000 1,256,000 162,000 -1,359,000 
          impact of exchange rates on cash, cash equivalents, and restricted cash
        		2,000 -1,000 2,000 -1,000 7,000 -11,000 4,000 6,000 -34,000              
          net increase in cash and cash equivalents
        		1,147,000 1,646,000 -7,790,000 -7,214,000 10,465,000  284,000 872,000 9,948,000    34,645,000         -11,728,000 
          cash, cash equivalents, and restricted cash
        		                      
          cash, cash equivalents, and restricted cash - beginning of period
        		37,983,000 0 0 0 40,876,000 0 0 0 38,528,000 0 0 0 109,119,000 0 0 0 173,289,000  0    
          cash, cash equivalents, and restricted cash - end of period
        		39,130,000 1,646,000 -7,790,000 -7,214,000 51,341,000 -8,756,000 284,000 872,000 48,476,000 -14,351,000 -16,152,000 -74,733,000 143,764,000 8,447,000 12,760,000 -28,682,000 116,594,000  -12,782,000    
          non-cash lease income
        		 -3,000 -3,000    -98,000 -101,000 -92,000              
          loss on termination of lease
        		                      
          operating lease right-of-use assets and liabilities
        		      6,000        -1,000 826,000 786,000      
          proceeds from sale of property and equipment
        		 0 1,000                    
          issuance of common stock, net of issuance costs
        		          33,095,000            
          proceeds from the exercise of stock options and common stock issued under the 2020 eip
        		 392,000 0    0                
          supplemental disclosures of noncash investing activities
        		                      
          accrued purchases of property and equipment
        		        6,000    298,000 -574,000 -731,000 65,000 1,436,000      
          net cash provided (used) by investing activities
        		  12,028,000    17,119,000                
          non cash lease expense
        		    -2,000                  
          gain on sales and disposals of fixed assets
        		    4,000                  
          operating lease liabilities
        		                      
          proceeds from the exercise of stock options and common stock issued under the 2020 espp
        		           105,000 12,000 548,000 6,000        
          net increase in cash, cash equivalents, and restricted cash
        		                 -4,174,000 -12,782,000    
          loss on sale of equipment
        		                      
          proceeds from sale of equipment
        		                      
          amortization of (premiums) discounts on marketable securities
        		                      
          non-cash lease expense
        		         -87,000 -95,000 -99,000 -89,000 85,000 70,000 97,000 83,000 330,000 330,000    
          proceeds from the issuance of common stock
        		                      
          net decrease in cash, cash equivalents, and restricted cash
        		                      
          lease incentives used for leasehold improvements
        		                 -176,000     
          supplemental disclosures of cash flow information
        		                      
          cash paid for income tax
        		                 0 19,000 0 4,000 1,000 
          (accretion) of premiums on marketable securities
        		                      
          net increase in cash, cash equivalents and restricted cash
        		                      
          amortization of premiums on marketable securities
        		           -957,000 -712,000 -526,000 -228,000 72,000 54,000 91,000 127,000 165,000 167,000 0 
          net decrease in cash and cash equivalents
        		              12,760,000 -28,682,000 -56,695,000    -152,639,000  
          cash paid for income taxes
        		                2,000      
          proceeds from issuance of convertible preferred stock, net issuance costs
        		                      
          supplemental disclosures of noncash financing activities
        		                      
          conversion of convertible preferred stock to common stock
        		                     0 
          conversion of warrant liability to common stock
        		                     0 
          stock-based compensation
        		               2,518,000 2,177,000 1,767,000 1,796,000 1,150,000 627,000  
          purchase of property and equipment
        		               -3,500,000 -796,000  -501,000 -466,000 -120,000  
          purchase of marketable securities
        		               -55,518,000 -93,705,000 -21,678,000 -49,943,000 -45,447,000 -139,777,000 0 
          proceeds from exercise of stock options
        		                128,000 295,000 309,000 1,256,000 162,000  
          adjustments to reconcile net loss to net cash from operating activities: activities:
        		                      
          acquisition of property and equipment
        		                      
          cash, cash equivalents, and restricted cash—beginning of period
        		                      
          cash, cash equivalents, and restricted cash—end of period
        		                      
          proceeds from issuance of convertible preferred stock
        		                      
          unpaid offering costs
        		                      
          payment of deferred offering costs
        		                      
          cash and cash equivalents
        		                      
          cash and cash equivalents - beginning of period
        		                    361,422,000  
          cash and cash equivalents - end of period
        		                    208,783,000  
          stock based compensation
        		                     584,000 
          changes in operating assets and liabilities:
        		                      
          proceeds from issuance of convertible preferred stock, net of issuance costs
        		                      
          proceeds from issuance of common shares, net of issuance costs
        		                      
          cash and cash equivalents—beginning of period
        		                      
          cash and cash equivalents—end of period