Praxis Precision Medicines, Inc(NASDAQ:PRAX) 
Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company, develops therapies for central nervous system disorders characterized by neuronal imbalance. Its lead product candidates include PRAX-114, an extrasynaptic-preferring GABAA receptor positive allosteric modulator that is in...
Website: http://www.praxismedicines.com
Founded: 2015
Full Time Employees: 50
CEO: Marcio Souza
Sector: Healthcare
Industry: Biotechnology
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At a glance:
Bull Thesis:
Bear Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
collaboration revenue | 7,463,000 | 302,000 | 357,000 | 431,000 | 515,000 | 468,000 | 781,000 | 683,000 | |||||||||||||
operating expenses: | |||||||||||||||||||||
research and development | 65,797,000 | 63,006,000 | 60,806,000 | 56,288,000 | 41,881,000 | 27,260,000 | 26,984,000 | 18,388,000 | 17,260,000 | 25,614,000 | 25,504,000 | 28,329,000 | 30,439,000 | 43,620,000 | 52,652,000 | 43,511,000 | 33,139,000 | 25,678,000 | 17,929,000 | 16,272,000 | 12,786,000 |
general and administrative | 12,562,000 | 13,061,000 | 13,922,000 | 15,131,000 | 15,256,000 | 10,585,000 | 15,333,000 | 9,933,000 | 8,724,000 | 10,127,000 | 13,270,000 | 13,124,000 | 13,851,000 | 16,774,000 | 16,197,000 | 15,146,000 | 11,634,000 | 10,805,000 | 9,490,000 | 9,440,000 | 3,431,000 |
total operating expenses | 78,359,000 | 76,067,000 | 74,728,000 | 71,419,000 | 57,137,000 | 37,845,000 | 42,317,000 | 28,321,000 | 25,984,000 | 35,741,000 | 38,774,000 | 41,453,000 | 44,290,000 | 60,394,000 | 68,849,000 | 58,657,000 | 44,773,000 | 36,483,000 | 27,419,000 | 25,712,000 | 16,217,000 |
income from operations | -78,359,000 | -76,067,000 | -74,728,000 | -63,956,000 | -56,835,000 | -37,488,000 | -41,886,000 | -27,806,000 | -25,516,000 | -34,960,000 | -38,091,000 | -41,453,000 | -44,290,000 | -60,394,000 | -68,849,000 | -58,657,000 | -44,773,000 | -36,483,000 | -27,419,000 | -25,712,000 | -16,217,000 |
yoy | 37.87% | 102.91% | 78.41% | 130.01% | 122.74% | 7.23% | 9.96% | -32.92% | -42.39% | -42.11% | -44.67% | -29.33% | -1.08% | 65.54% | 151.10% | 128.13% | 176.09% | ||||
qoq | 3.01% | 1.79% | 16.84% | 12.53% | 51.61% | -10.50% | 50.64% | 8.97% | -27.01% | -8.22% | -8.11% | -6.41% | -26.66% | -12.28% | 17.38% | 31.01% | 22.72% | 33.06% | 6.64% | 58.55% | |
other income: | |||||||||||||||||||||
other income | 4,425,000 | 4,940,000 | 5,432,000 | 5,277,000 | 4,925,000 | 4,811,000 | 2,333,000 | 928,000 | 884,000 | 648,000 | 636,000 | 280,000 | 345,000 | 200,000 | 132,000 | 70,000 | 73,000 | 82,000 | |||
total other income | 4,425,000 | 4,940,000 | 5,432,000 | 5,277,000 | 4,925,000 | 4,811,000 | 2,333,000 | 928,000 | 884,000 | 648,000 | 636,000 | 280,000 | 345,000 | 200,000 | 132,000 | 70,000 | 73,000 | 82,000 | 46,000 | 6,000 | 1,000 |
net income | -73,934,000 | -71,127,000 | -69,296,000 | -58,679,000 | -51,910,000 | -32,677,000 | -39,553,000 | -26,878,000 | -24,632,000 | -34,312,000 | -37,455,000 | -41,173,000 | -43,945,000 | -60,194,000 | -68,717,000 | -58,582,000 | -44,705,000 | -36,401,000 | -27,373,000 | ||
yoy | 42.43% | 117.67% | 75.20% | 118.32% | 110.74% | -4.77% | 5.60% | -34.72% | -43.95% | -43.00% | -45.49% | -29.72% | -1.70% | 65.36% | 151.04% | ||||||
qoq | 3.95% | 2.64% | 18.09% | 13.04% | 58.86% | -17.38% | 47.16% | 9.12% | -28.21% | -8.39% | -9.03% | -6.31% | -26.99% | -12.40% | 17.30% | 31.04% | 22.81% | 32.98% | |||
net income per share | -3.36 | -3.31 | -3.29 | -3 | -2.75 | -1.74 | -2.84 | -17.57 | -0.18 | -0.49 | -0.71 | -0.85 | -0.96 | -1.32 | -1.51 | -1.33 | -1 | -0.88 | -0.71 | 18.67 | -12.1 |
weighted-average common shares outstanding, basic and diluted | 21,977,268 | 21,474,827 | 21,055,834 | 17,906,794 | 135,591,429 | 69,740,719 | 53,102,907 | 46,096,737 | 45,774,376 | 45,542,600 | 45,455,179 | 42,454,055 | 44,714,941 | 41,569,782 | 38,470,710 | 8,950,152 | 1,665,902 | ||||
weighted-average common shares outstanding, basic and diluted1 | 18,884,562 | 18,824,479 | 13,904,374 | 6,594,316 | |||||||||||||||||
income before income taxes | -43,214,000 | -43,945,000 | -58,587,000 | -44,700,000 | -36,401,000 | ||||||||||||||||
provision for income taxes | |||||||||||||||||||||
benefit from income taxes | -1,250 | -5,000 | |||||||||||||||||||
accretion and cumulative dividends on redeemable convertible preferred stock | -950,000 | -3,943,000 | |||||||||||||||||||
gain on repurchase of redeemable convertible preferred stock | |||||||||||||||||||||
net loss attributable to common stockholders | -58,582,000 | -44,705,000 | -36,401,000 | -27,373,000 | -26,656,000 | -20,159,000 | |||||||||||||||
interest income | 46,000 | 6,000 | 1,000 | ||||||||||||||||||
loss before benefit from income taxes | -27,373,000 | -25,706,000 | -16,216,000 | ||||||||||||||||||
net loss and comprehensive loss | -25,706,000 | -16,216,000 |
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 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||
current assets: | |||||||||||||||||||||||
cash and cash equivalents | 536,333,000 | 357,329,000 | 149,527,000 | 157,415,000 | 165,567,000 | 215,372,000 | 168,645,000 | 145,143,000 | 151,980,000 | 81,300,000 | 101,085,000 | 124,300,000 | 80,839,000 | 61,615,000 | 62,440,000 | 56,039,000 | 77,854,000 | 138,704,000 | 165,679,000 | 175,879,000 | 131,152,000 | 296,608,000 | 114,772,000 |
marketable securities | 250,532,000 | 242,002,000 | 117,630,000 | 143,860,000 | 162,424,000 | 177,195,000 | 188,387,000 | 206,736,000 | 55,436,000 | 4,983,000 | 38,874,000 | 61,300,000 | 109,365,000 | 144,662,000 | 137,207,000 | 148,691,000 | 163,305,000 | 139,659,000 | |||||
prepaid expenses and other current assets | 10,909,000 | 11,580,000 | 6,687,000 | 5,304,000 | 5,584,000 | 11,805,000 | 3,016,000 | 4,837,000 | 4,388,000 | 3,580,000 | 2,242,000 | 5,529,000 | 8,580,000 | 10,351,000 | 8,572,000 | 10,176,000 | 11,957,000 | 11,498,000 | 4,969,000 | 9,249,000 | 7,753,000 | 5,718,000 | 1,079,000 |
total current assets | 797,774,000 | 610,911,000 | 273,844,000 | 306,579,000 | 333,575,000 | 404,372,000 | 360,048,000 | 356,716,000 | 211,804,000 | 84,880,000 | 103,327,000 | 129,829,000 | 94,402,000 | 110,840,000 | 132,312,000 | 175,580,000 | 234,473,000 | 287,409,000 | 319,339,000 | 348,433,000 | 278,564,000 | 302,326,000 | 115,851,000 |
long-term marketable securities | 660,938,000 | 326,757,000 | 122,008,000 | 145,369,000 | 144,032,000 | 76,961,000 | 54,141,000 | 81,952,000 | 35,873,000 | ||||||||||||||
property and equipment | 170,000 | 147,000 | 174,000 | 258,000 | 247,000 | 230,000 | 277,000 | 369,000 | 476,000 | 588,000 | 700,000 | 759,000 | 865,000 | 971,000 | 1,077,000 | 1,134,000 | 1,142,000 | 1,213,000 | 625,000 | 182,000 | 109,000 | 82,000 | 98,000 |
operating lease right-of-use assets | 1,320,000 | 92,000 | 362,000 | 626,000 | 882,000 | 1,131,000 | 1,374,000 | 1,610,000 | 1,840,000 | 2,064,000 | 2,282,000 | 2,494,000 | 2,700,000 | 2,901,000 | 3,097,000 | 3,287,000 | 3,473,000 | 3,653,000 | 4,028,000 | 4,400,000 | 571,000 | 754,000 | 933,000 |
total assets | 1,460,202,000 | 937,907,000 | 396,388,000 | 452,832,000 | 478,736,000 | 483,110,000 | 416,256,000 | 441,063,000 | 250,409,000 | 87,948,000 | 106,725,000 | 133,498,000 | 98,383,000 | 115,128,000 | 136,902,000 | 180,417,000 | 239,504,000 | 292,747,000 | 324,408,000 | 353,511,000 | 279,253,000 | 303,177,000 | 119,548,000 |
liabilities and stockholders’ equity | |||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||
accounts payable | 31,158,000 | 24,628,000 | 30,819,000 | 28,832,000 | 22,909,000 | 12,528,000 | 15,010,000 | 8,195,000 | 9,404,000 | 5,815,000 | 7,166,000 | 8,010,000 | 16,986,000 | 14,672,000 | 10,122,000 | 11,821,000 | 13,269,000 | 10,780,000 | 7,544,000 | 7,401,000 | 5,774,000 | 4,088,000 | 3,452,000 |
accrued expenses | 17,648,000 | 35,033,000 | 21,628,000 | 19,021,000 | 15,547,000 | 23,763,000 | 15,457,000 | 10,058,000 | 6,976,000 | 7,416,000 | 6,979,000 | 13,317,000 | 9,352,000 | 15,850,000 | 17,884,000 | 25,768,000 | 30,929,000 | 26,844,000 | 16,529,000 | 7,826,000 | 7,386,000 | 10,869,000 | 6,186,000 |
operating lease liabilities | 1,435,000 | 110,000 | 436,000 | 755,000 | 1,066,000 | 1,259,000 | 1,224,000 | 1,191,000 | 1,158,000 | 1,126,000 | 1,095,000 | 1,064,000 | 1,035,000 | 1,005,000 | 977,000 | 949,000 | 1,025,000 | 810,000 | 681,000 | 553,000 | 578,000 | 763,000 | 746,000 |
total current liabilities | 50,241,000 | 59,771,000 | 52,883,000 | 48,608,000 | 39,522,000 | 37,550,000 | 32,861,000 | 20,620,000 | 18,794,000 | 15,749,000 | 16,792,000 | 24,430,000 | 29,916,000 | 34,345,000 | 28,983,000 | 38,538,000 | 45,223,000 | 38,434,000 | 24,754,000 | 15,780,000 | 13,738,000 | 15,720,000 | 10,384,000 |
total liabilities | 50,241,000 | 59,771,000 | 52,883,000 | 48,608,000 | 39,522,000 | 37,660,000 | 33,590,000 | 21,963,000 | 20,726,000 | 18,279,000 | 19,969,000 | 27,873,000 | 33,915,000 | 39,022,000 | 31,739,000 | 41,548,000 | 48,482,000 | 41,935,000 | 28,486,000 | 19,739,000 | 13,738,000 | 15,720,000 | 10,582,000 |
commitments and contingencies | |||||||||||||||||||||||
stockholders’ equity: | |||||||||||||||||||||||
preferred stock, 0.0001 par value... | |||||||||||||||||||||||
common stock, 0.0001 par value... | 15,000 | 15,000 | 14,000 | 14,000 | 14,000 | 14,000 | 14,000 | 14,000 | 13,000 | 13,000 | 13,000 | 13,000 | 6,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 5,000 | 4,000 | 4,000 | 1,000 |
additional paid-in capital | 2,644,109,000 | 2,017,566,000 | 1,394,088,000 | 1,380,978,000 | 1,344,577,000 | 1,281,522,000 | 1,159,382,000 | 1,145,308,000 | 923,141,000 | 723,577,000 | 713,786,000 | 708,023,000 | 632,580,000 | 606,918,000 | 595,165,000 | 585,070,000 | 576,955,000 | 567,598,000 | 553,975,000 | 547,145,000 | 442,524,000 | 437,007,000 | |
accumulated deficit | -1,232,569,000 | -1,140,008,000 | -1,051,097,000 | -977,163,000 | -906,036,000 | -836,740,000 | -778,061,000 | -726,151,000 | -693,474,000 | -653,921,000 | -627,043,000 | -602,411,000 | -568,099,000 | -530,644,000 | -489,471,000 | -445,526,000 | -385,332,000 | -316,615,000 | -258,033,000 | -213,328,000 | -176,927,000 | -149,554,000 | -123,264,000 |
accumulated other comprehensive gain | -1,594,000 | 563,000 | 500,000 | 395,000 | 659,000 | 654,000 | 1,331,000 | ||||||||||||||||
total stockholders’ equity | 1,409,961,000 | 878,136,000 | 343,505,000 | 404,224,000 | 439,214,000 | 445,450,000 | 382,666,000 | 419,100,000 | 229,683,000 | 69,669,000 | 86,756,000 | 105,625,000 | 64,468,000 | 76,106,000 | 105,163,000 | 138,869,000 | 191,022,000 | 250,812,000 | 295,922,000 | 333,772,000 | 265,515,000 | 287,457,000 | |
total liabilities and stockholders’ equity | 1,460,202,000 | 937,907,000 | 396,388,000 | 452,832,000 | 478,736,000 | 483,110,000 | 416,256,000 | 441,063,000 | 250,409,000 | 87,948,000 | 106,725,000 | 133,498,000 | 98,383,000 | 115,128,000 | 136,902,000 | 180,417,000 | 239,504,000 | 292,747,000 | 324,408,000 | 353,511,000 | 279,253,000 | ||
other non-current assets | 416,000 | 416,000 | 416,000 | 416,000 | 416,000 | 416,000 | 416,000 | 416,000 | 416,000 | 416,000 | 416,000 | 416,000 | 472,000 | 416,000 | 496,000 | 9,000 | 15,000 | ||||||
long-term liabilities: | |||||||||||||||||||||||
non-current portion of operating lease liabilities | 110,000 | 436,000 | 755,000 | 1,066,000 | 1,369,000 | 1,661,000 | 1,946,000 | 2,225,000 | 2,495,000 | 2,756,000 | 3,010,000 | 3,259,000 | 3,501,000 | 3,732,000 | 3,959,000 | 198,000 | |||||||
current portion of deferred revenue | 1,170,000 | 1,176,000 | 1,256,000 | 1,392,000 | 1,552,000 | 2,039,000 | 2,543,000 | 2,818,000 | |||||||||||||||
non-current portion of deferred revenue | 293,000 | 588,000 | 866,000 | 1,161,000 | 1,516,000 | 1,497,000 | 1,774,000 | 2,182,000 | |||||||||||||||
accumulated other comprehensive loss | -71,000 | -19,000 | -173,000 | -536,000 | -680,000 | -606,000 | -176,000 | -25,000 | -50,000 | -86,000 | |||||||||||||
accumulated other comprehensive income | 3,000 | ||||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ (deficit) equity | |||||||||||||||||||||||
series a redeemable convertible preferred stock, 0.0001 par value... | 10,416,000 | ||||||||||||||||||||||
series b redeemable convertible preferred stock, 0.0001 par value... | 52,648,000 | ||||||||||||||||||||||
series b-1 redeemable convertible preferred stock, 0.0001 par value... | 11,029,000 | ||||||||||||||||||||||
series c redeemable convertible preferred stock, 0.0001 par value... | 46,244,000 | ||||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ equity | 303,177,000 | ||||||||||||||||||||||
restricted cash | 600,000 | ||||||||||||||||||||||
other assets | 2,066,000 | ||||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ deficit | |||||||||||||||||||||||
series c-1 redeemable convertible preferred stock, 0.0001 par value... | 111,892,000 | ||||||||||||||||||||||
stockholders’ deficit: | |||||||||||||||||||||||
total stockholders’ deficit | -123,263,000 | ||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock and stockholders’ deficit | 119,548,000 |
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 | 2021-06-30 | 2021-03-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||||||||
net loss | -92,561,000 | -88,911,000 | -73,934,000 | -71,127,000 | -69,296,000 | -58,679,000 | -51,910,000 | -32,677,000 | -39,553,000 | -26,878,000 | -24,632,000 | -34,312,000 | -37,455,000 | -41,173,000 | -43,945,000 | -60,194,000 | -68,717,000 | -58,582,000 | -44,705,000 | -36,401,000 | -27,373,000 | -25,706,000 |
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||
depreciation expense | 39,000 | 28,000 | 19,000 | 46,000 | 47,000 | 47,000 | 92,000 | 107,000 | 112,000 | 111,000 | 109,000 | 106,000 | 106,000 | 105,000 | 102,000 | 119,000 | 93,000 | 93,000 | 39,000 | 27,000 | 23,000 | 20,000 |
stock-based compensation expense | 17,112,000 | 9,938,000 | 7,447,000 | 7,770,000 | 8,786,000 | 8,575,000 | 12,432,000 | 5,878,000 | 14,475,000 | 5,726,000 | 5,763,000 | 5,775,000 | 7,593,000 | 6,366,000 | 6,730,000 | 7,611,000 | 7,886,000 | 6,106,000 | 6,521,000 | 5,400,000 | 4,666,000 | 3,826,000 |
non-cash operating lease expense | 197,000 | 271,000 | 263,000 | 257,000 | 249,000 | 243,000 | 236,000 | 230,000 | 224,000 | 218,000 | 212,000 | 206,000 | 201,000 | 196,000 | 190,000 | 186,000 | 180,000 | 470,000 | 467,000 | 292,000 | 183,000 | 179,000 |
amortization of premiums and discounts on marketable securities | -655,000 | -671,000 | -705,000 | -987,000 | -1,229,000 | -1,390,000 | -2,005,000 | -1,531,000 | -84,000 | 0 | 0 | 2,000 | 45,000 | 196,000 | 209,000 | 223,000 | 375,000 | 633,000 | 639,000 | 554,000 | 261,000 | |
changes in operating assets and liabilities: | ||||||||||||||||||||||
prepaid expenses and other current assets | 672,000 | -4,894,000 | -1,383,000 | 280,000 | 6,637,000 | -8,789,000 | 1,821,000 | -449,000 | -808,000 | -1,337,000 | 3,287,000 | 3,051,000 | 1,771,000 | -1,779,000 | 1,604,000 | 1,783,000 | -1,061,000 | -6,529,000 | 4,280,000 | -1,496,000 | -2,035,000 | -4,039,000 |
accounts payable | 6,530,000 | -6,194,000 | 1,987,000 | 5,923,000 | 10,381,000 | -2,482,000 | 7,006,000 | -1,400,000 | 3,589,000 | -1,299,000 | -894,000 | -8,976,000 | 2,314,000 | 4,550,000 | -1,699,000 | -1,448,000 | 2,489,000 | 3,236,000 | 323,000 | 1,500,000 | 2,208,000 | 416,000 |
accrued expenses | -17,385,000 | 14,428,000 | 1,578,000 | 3,474,000 | -8,280,000 | 8,105,000 | 5,412,000 | 3,201,000 | -608,000 | 374,000 | -6,338,000 | 3,965,000 | -6,498,000 | -2,034,000 | -7,884,000 | -5,163,000 | 4,616,000 | 9,969,000 | 8,587,000 | 371,000 | -3,477,000 | 5,248,000 |
operating lease liabilities | -101,000 | -326,000 | -319,000 | -311,000 | -303,000 | -291,000 | -286,000 | -278,000 | -271,000 | -261,000 | -254,000 | -250,000 | -240,000 | -233,000 | -226,000 | -326,000 | -26,000 | -197,000 | -193,000 | -188,000 | -185,000 | -181,000 |
other | -10,000 | -1,000 | -2,000 | -1,000 | -2,000 | 0 | 0 | 0 | 56,000 | -56,000 | 80,000 | -72,000 | 7,000 | |||||||||
net cash from operating activities | -86,152,000 | -76,325,000 | -65,057,000 | -54,676,000 | -53,010,000 | -56,122,000 | -27,500,000 | -27,278,000 | -20,857,000 | -23,861,000 | -23,215,000 | -31,214,000 | -32,846,000 | -28,806,000 | -44,919,000 | -57,209,000 | -54,109,000 | -44,857,000 | -23,962,000 | -30,013,000 | -25,722,000 | -20,228,000 |
capital expenditures | 0 | 0 | 0 | 64,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -45,000 | -110,000 | -531,000 | -450,000 | -65,000 | 47,000 | 0 | |||
free cash flows | -76,325,000 | -65,057,000 | -54,676,000 | -52,946,000 | -56,122,000 | -27,500,000 | -27,278,000 | -20,857,000 | -23,861,000 | -23,215,000 | -31,214,000 | -28,806,000 | -44,964,000 | -57,319,000 | -45,388,000 | -24,412,000 | -30,078,000 | -25,675,000 | -20,228,000 | |||
cash flows from investing activities: | ||||||||||||||||||||||
purchases of property and equipment | -62,000 | 0 | 0 | 0 | -45,000 | -110,000 | -289,000 | -531,000 | -450,000 | -65,000 | -4,000 | |||||||||||
purchases of marketable securities | -486,782,000 | -390,275,000 | -75,133,000 | -41,347,000 | -117,057,000 | -69,418,000 | -11,959,000 | -198,922,000 | -91,220,000 | 0 | 0 | 0 | -83,022,000 | 0 | 0 | -24,164,000 | -140,006,000 | |||||
maturities of marketable securities | 142,569,000 | 61,884,000 | 125,546,000 | 59,297,000 | 65,993,000 | 58,500,000 | 61,525,000 | 0 | 0 | 5,000,000 | 34,000,000 | 22,594,000 | 48,000,000 | 35,000,000 | 74,761,000 | 10,700,000 | ||||||
net cash from investing activities | -344,275,000 | -328,391,000 | 50,413,000 | 17,894,000 | -51,064,000 | -10,918,000 | 49,566,000 | -195,922,000 | -91,220,000 | -50,000 | 0 | 5,000,000 | 34,000,000 | 22,594,000 | -8,550,000 | 10,169,000 | 13,550,000 | -24,229,000 | -140,010,000 | |||
cash flows from financing activities: | ||||||||||||||||||||||
issuance of common stock from follow-on public offering, net of underwriting discounts, commissions and offering costs | 621,235,000 | |||||||||||||||||||||
proceeds from at-the-market offerings, net of issuance and commission costs | 34,610,000 | 6,000,000 | 28,359,000 | 54,904,000 | 111,950,000 | 1,344,000 | -34,000 | 6,337,000 | ||||||||||||||
payments of tax withholdings related to vesting of restricted stock units | -12,923,000 | -819,000 | -52,000 | -23,000 | -1,195,000 | -157,000 | -1,000 | -13,000 | -137,000 | -5,000 | -1,000 | -4,000 | -127,000 | -7,000 | -7,000 | -16,000 | -230,000 | |||||
proceeds from exercise of stock options | 1,119,000 | 560,000 | 101,000 | |||||||||||||||||||
net cash from financing activities | 609,431,000 | 612,518,000 | 6,756,000 | 28,630,000 | 54,269,000 | 113,767,000 | 1,436,000 | 216,363,000 | 182,757,000 | 4,126,000 | 0 | 69,675,000 | 18,070,000 | 5,387,000 | 3,365,000 | 504,000 | 1,209,000 | 7,713,000 | 212,000 | 99,385,000 | 276,000 | 202,064,000 |
increase in cash, cash equivalents and restricted cash | 179,004,000 | 207,802,000 | -7,888,000 | -8,152,000 | -49,805,000 | 46,727,000 | 23,502,000 | -6,837,000 | 70,680,000 | -19,785,000 | -23,215,000 | 43,461,000 | 19,224,000 | 181,836,000 | ||||||||
cash, cash equivalents and restricted cash, beginning of period | 357,745,000 | 0 | 0 | 0 | 215,788,000 | 0 | 0 | 0 | 81,716,000 | 0 | 0 | 0 | 62,031,000 | 0 | 0 | 0 | 139,720,000 | 0 | 0 | 0 | 297,208,000 | 0 |
cash, cash equivalents and restricted cash, end of period | 536,749,000 | 207,802,000 | -7,888,000 | -8,152,000 | 165,983,000 | 46,727,000 | 23,502,000 | -6,837,000 | 152,396,000 | -19,785,000 | -23,215,000 | 43,461,000 | 81,255,000 | -825,000 | 6,401,000 | -21,815,000 | 78,270,000 | -26,975,000 | -10,200,000 | 45,143,000 | 131,752,000 | 181,836,000 |
reconciliation of cash, cash equivalents and restricted cash: | ||||||||||||||||||||||
cash and cash equivalents | 536,333,000 | 207,802,000 | -7,888,000 | -8,152,000 | 165,567,000 | 46,727,000 | 23,502,000 | -6,837,000 | 151,980,000 | -19,785,000 | -23,215,000 | 43,461,000 | 80,839,000 | -825,000 | 6,401,000 | -21,815,000 | 77,854,000 | -26,975,000 | -10,200,000 | 44,727,000 | 131,152,000 | |
restricted cash | 416,000 | 0 | 0 | 0 | 416,000 | 0 | 0 | 0 | 416,000 | 0 | 0 | 0 | 416,000 | 0 | 0 | 0 | 416,000 | 0 | 0 | 416,000 | 600,000 | |
total cash, cash equivalents and restricted cash | 536,749,000 | 207,802,000 | -7,888,000 | -8,152,000 | 165,983,000 | 46,727,000 | 23,502,000 | -6,837,000 | 152,396,000 | -19,785,000 | -23,215,000 | 43,461,000 | 81,255,000 | -825,000 | 6,401,000 | -21,815,000 | 78,270,000 | -26,975,000 | -10,200,000 | 45,143,000 | 131,752,000 | |
supplemental disclosures of non-cash activities: | ||||||||||||||||||||||
purchase of property and equipment included in accrued expenses | 0 | 64,000 | ||||||||||||||||||||
right-of-use assets obtained in exchange for lease obligations | 1,425,000 | |||||||||||||||||||||
removal of right-of-use assets in connection with lease termination | 4,086,000 | |||||||||||||||||||||
non-cash collaboration and license agreement expense | 0 | 0 | 0 | 2,500,000 | ||||||||||||||||||
other non-cash adjustments | ||||||||||||||||||||||
deferred revenue | -1,463,000 | -301,000 | -358,000 | -431,000 | -515,000 | -468,000 | -781,000 | -683,000 | ||||||||||||||
issuance of common stock from follow-on public offering and accompanying pre-funded warrants, net of underwriting discounts, commissions and offering costs | 0 | -108,000 | 216,095,000 | 161,649,000 | 0 | 0 | ||||||||||||||||
issuance of common stock from collaboration and license agreement | 0 | 0 | 0 | 14,765,000 | ||||||||||||||||||
proceeds from exercise of options and employee stock purchase plan purchases | ||||||||||||||||||||||
issuance costs from at-the-market offerings included in accrued expenses | ||||||||||||||||||||||
offering costs from follow-on public offering included in accounts payable | 0 | |||||||||||||||||||||
proceeds from exercise of stock options and employee stock purchase plan purchases | 808,000 | 201,000 | 315,000 | 143,000 | 1,000 | |||||||||||||||||
issuance costs from at-the-market offering included in accrued expenses | 168,000 | |||||||||||||||||||||
issuance costs from at-the-market offering included in accounts payable and accrued expenses | ||||||||||||||||||||||
offering costs from follow-on offering included in accounts payable | ||||||||||||||||||||||
purchases of property and equipment included in accounts payable | ||||||||||||||||||||||
proceeds from at-the-market offerings, net of issuance costs | 4,025,000 | 0 | 6,032,000 | 18,096,000 | 5,231,000 | 2,962,000 | 0 | 1,368,000 | ||||||||||||||
payment of issuance costs for at-the-market offerings | ||||||||||||||||||||||
offering costs included in accrued expenses | ||||||||||||||||||||||
proceeds from follow-on public offering, net of issuance costs | -67,000 | -96,000 | ||||||||||||||||||||
payment of issuance costs for at-the-market offerings and initial public offering | 0 | 0 | 0 | -262,000 | ||||||||||||||||||
proceeds from exercise of options and employee stock purchase plan contributions | 163,000 | 410,000 | ||||||||||||||||||||
decrease in cash, cash equivalents and restricted cash | -825,000 | 6,401,000 | -21,815,000 | -61,450,000 | -10,200,000 | 45,143,000 | -165,456,000 | |||||||||||||||
operating lease right-of-use assets obtained in exchange for operating lease liabilities | 0 | 0 | ||||||||||||||||||||
purchases of property and equipment included in accrued expenses | ||||||||||||||||||||||
net cash provided (used) in investing activities | ||||||||||||||||||||||
offering costs included in accounts payable and accrued expenses | ||||||||||||||||||||||
proceeds from exercise of options to purchase common stock | 333,000 | 479,000 | 308,000 | 809,000 | 851,000 | 61,000 | ||||||||||||||||
purchases of property and equipment included in accrued expenses and accounts payable | ||||||||||||||||||||||
proceeds from initial public offering of common stock, net of issuance costs | ||||||||||||||||||||||
payment of issuance costs for initial public offering | ||||||||||||||||||||||
proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | 0 | |||||||||||||||||||||
repurchase of series c redeemable convertible preferred stock | 0 | |||||||||||||||||||||
purchases of property and equipment included in accounts payable and accrued expenses | ||||||||||||||||||||||
accretion of redeemable convertible preferred stock to redemption value | 950,000 | |||||||||||||||||||||
payment of issuance costs for initial public offering and issuance of redeemable convertible preferred stock | 0 | |||||||||||||||||||||
deferred offering costs included in accrued expenses | ||||||||||||||||||||||
deferred offering costs included in accounts payable and accrued expenses | -350,000 | |||||||||||||||||||||
payment of deferred offering costs | -575,000 | |||||||||||||||||||||
purchases of property, plant and equipment included in accounts payable | 51,000 | |||||||||||||||||||||
redeemable convertible preferred stock issuance costs included in accounts payable | ||||||||||||||||||||||
other non-current assets | ||||||||||||||||||||||
operating lease liabilities recorded upon adoption of asc 842 |