7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 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 2020-09-30 2020-06-30 2020-03-31 2019-09-30 2019-06-30 2019-03-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2015-09-30 2015-06-30 2014-12-31 
      
    		                                
      revenue
    		                                
      operating expenses:
    		                                
      research and development
    		34,068,000 42,658,000 35,942,000 37,357,000 42,315,000 46,345,000 45,227,000 41,744,000 46,844,000 51,383,000 46,371,000 50,037,000 43,383,000 41,356,000 30,794,000 32,161,000 39,975,000 24,798,000 28,542,000 21,657,000 16,731,000 16,957,000 14,829,000 13,989,000 15,137,000 13,065,000 10,772,000 5,743,000 -7,558,000 -3,612,000 -1,954,000  
      general and administrative
    		18,351,000 25,020,000 28,446,000 25,337,000 27,109,000 27,367,000 22,148,000 21,535,000 18,585,000 17,374,000 15,823,000 19,045,000 15,105,000 12,854,000 11,770,000 12,172,000 9,671,000 9,250,000 10,680,000 5,730,000 6,828,000 7,163,000 4,336,000 4,403,000 3,808,000 2,268,000 4,100,000 8,662,000 -7,011,000 -1,825,000 -1,728,000  
      restructuring
    		-172,000 3,471,000                               
      total operating expenses
    		52,247,000 71,149,000 64,388,000 62,694,000 69,424,000 73,712,000 67,375,000 63,279,000 65,429,000 68,757,000 62,194,000 69,082,000 58,488,000 54,210,000 42,564,000 44,333,000 49,646,000 34,048,000 39,222,000 27,387,000 23,559,000 24,120,000 19,165,000 18,392,000 18,945,000 15,333,000 14,872,000 14,405,000     
      income from operations
    		-52,247,000 -71,149,000 -64,388,000 -62,694,000 -69,424,000 -73,712,000 -67,375,000 -63,279,000 -65,429,000 -68,757,000 -62,194,000 -69,082,000 -58,488,000 -54,210,000 -42,564,000 -44,333,000 -49,646,000 -34,048,000 -39,222,000 -27,387,000 -23,559,000 -24,120,000 -19,165,000 -18,392,000 -18,945,000 -15,333,000 -14,872,000 -14,405,000 -14,569,000 -5,437,000 -3,682,000  
      yoy
    		-24.74% -3.48% -4.43% -0.92% 6.11% 7.21% 8.33% -8.40% 11.87% 26.83% 46.12% 55.83% 17.81% 59.22% 8.52% 61.88% 110.73% 41.16% 104.65% 48.91% 24.35% 57.31% 28.87% 27.68% 30.04% 182.01% 303.91%      
      qoq
    		-26.57% 10.50% 2.70% -9.69% -5.82% 9.41% 6.47% -3.29% -4.84% 10.55% -9.97% 18.11% 7.89% 27.36% -3.99% -10.70% 45.81% -13.19% 43.21% 16.25% -2.33% 25.85% 4.20% -2.92% 23.56% 3.10% 3.24% -1.13% 167.96% 47.66%   
      operating margin %
    		                                
      interest expense
    		-473,000 -473,000 -472,000 -473,000 -471,000 -471,000 -471,000 -470,000 -469,000 -468,000 -468,000 -467,000 -465,000 -465,000 -464,000 -463,000 -534,000 -251,000 -1,729,000 -1,967,000 -1,786,000 -1,573,000 -1,466,000 -1,544,000 -1,604,000 -1,176,000 -1,363,000 -1,427,000 -2,349,000 -192,000 -564,000  
      interest and other income
    		709,000 483,000 1,336,000 1,617,000 1,327,000 2,294,000 3,029,000 814,000 1,720,000 846,000 1,908,000 1,245,000 1,353,000 669,000 623,000      429,000  979,000 1,000,000         
      accretion of discount on investments
    		1,679,000 2,220,000 2,190,000 1,713,750 1,849,000 2,243,000 2,763,000              -124,000 62,000 368,000 256,000 247,000        
      net income
    		-50,332,000 -68,919,000 -61,334,000 -60,327,000 -66,719,000 -69,646,000 -62,054,000 -59,660,000 -61,899,000 -65,701,000 -58,335,000 -66,723,000 -57,756,000 -54,402,000 -42,982,000 -44,247,000 -50,118,000 -34,525,000 -40,179,000 -29,080,000 -25,040,000 -24,664,000 -19,284,000 -18,680,000 -19,451,000 -16,089,000 -15,767,000 -15,343,000 30,313,000 -55,961,000 -2,387,000  
      yoy
    		-24.56% -1.04% -1.16% 1.12% 7.79% 6.00% 6.38% -10.59% 7.17% 20.77% 35.72% 50.80% 15.24% 57.57% 6.98% 52.16% 100.15% 39.98% 108.35% 55.67% 28.73% 53.30% 22.31% 21.75% -164.17% -71.25% 560.54%      
      qoq
    		-26.97% 12.37% 1.67% -9.58% -4.20% 12.23% 4.01% -3.62% -5.79% 12.63% -12.57% 15.53% 6.17% 26.57% -2.86% -11.71% 45.16% -14.07% 38.17% 16.13% 1.52% 27.90% 3.23% -3.96% 20.90% 2.04% 2.76% -150.62% -154.17% 2244.41%   
      net income margin %
    		                                
      net income per share
    		-0.45 -0.62 -0.56 -0.62 -0.71 -0.74 -0.66 -0.62 -0.75 -0.82 -0.73 -0.89 -0.87 -0.83 -0.67 -0.68 -0.79 -0.55 -0.65 -0.53 -0.45 -0.45 -0.38 -0.38 -0.43 -0.4 -0.4 -0.42 -0.963 -2.48 -0.15  
      weighted-average common shares outstanding - basic and diluted
    		111,571,136 111,019,647 110,093,461 94,807,773 94,158,491 93,746,243 93,549,884 84,009,004 82,636,120 80,472,362 79,453,519 68,148,925 66,215,535 65,476,531 64,509,721 63,235,417 63,825,429 63,061,232 61,574,405 55,188,956 55,158,459 54,883,120 50,364,649 49,267,247 45,122,815 39,900,551 39,483,006 36,137,120     
      accretion of discount and amortization of premium on investments
    		       3,275,000 2,279,000 2,678,000 2,419,000                      
      research and development incentives
    		               500,000   500,000      250,000   186,000     
      amortization of premium on investments - net
    		           -282,000 -156,000 -396,000 -577,000 -527,750 -744,000 -727,000               
      interest and other income - net
    		               554,500 806,000 501,000               
      interest and other income net
    		                  911,000 518,000  967,000   601,000        
      (amortization of premium) accretion of discount on investments - net
    		                  -639,000 -244,000             
      interest income
    		                         459,000 473,000 288,000 786,000 33,000   
      other income / (expense) net
    		                         -39,000       
      other income /
    		                          -5,000      
      other income
    		                           15,000     
      loss on extinguishment of debt
    		                            -1,099,750 -3,716,000   
      change in fair value of warrant liabilities
    		                            66,750    
      change in fair value of convertible bridge notes redemption rights derivative
    		                            120,000    
      change in fair value of 2020 convertible notes derivative liability
    		                            -10,698,250 -46,649,000 1,859,000  
      weighted-average number of shares outstanding—basic and diluted
    		                             22,573,195 16,327,003  
      cash flows from operating activities:
    		                                
      adjustments to reconcile net income to cash from operating activities:
    		                                
      noncash interest expense
    		                             1,132 577  
      noncash rent expense
    		                             -5   
      depreciation
    		                             7 1  
      stock-based compensation
    		                             1,932 1,558  
      changes in operating assets and liabilities:
    		                                
      prepaid expenses and other assets
    		                             -968 -574  
      accounts payable
    		                             563 -333  
      accrued expenses and other current liabilities
    		                             487 651  
      net cash from operating activities
    		                             -10,377 -6,050  
      cash flows from investing activities:
    		                                
      purchase of short-term investments
    		                             -29,117   
      purchase of property and equipment
    		                             -318 -30  
      net cash from investing activities
    		                             -29,435   
      cash flows from financing activities:
    		                                
      proceeds from issuance of common stock in initial public offering, net of issuance costs
    		                             38,085 38,115  
      proceeds from issuance of 2020 convertible notes in initial public offering
    		                             21,000   
      payments of 2020 convertible notes issuance costs
    		                             -1,841 -1,841  
      proceeds from issuance of common stock in follow-on public offering, net of issuance costs
    		                             73,955   
      proceeds from exercise of stock options
    		                             43   
      principal payments on notes payable
    		                             -5,800 -5,800  
      proceeds from exercise of warrants for series aa preferred stock
    		                                
      net cash from financing activities
    		                             125,442   
      net change in cash and cash equivalents
    		                             85,630 45,394  
      cash and cash equivalents, beginning of period
    		                             3,618 3,618  
      cash and cash equivalents, end of period
    		                             89,248 49,012  
      supplemental disclosure of cash flow information:
    		                                
      cash paid for interest
    		                             89 89  
      supplemental disclosure of noncash investing and financing activities:
    		                                
      accrual of series aa preferred stock dividends
    		                                
      acquisition of leasehold improvements
    		                             445   
      conversion of series aa preferred stock into common stock upon initial public offering
    		                             46,383 46,383  
      conversion of series x preferred stock into common stock upon initial public offering
    		                             548 548  
      conversion of convertible bridge notes into common stock upon initial public offering
    		                             2,028 2,028  
      conversion of 2020 convertible notes into common stock
    		                             66,375   
      accretion of series aa preferred stock to redemption value
    		                             130 130  
      reclassification of fair value of warrant liability to equity upon initial public offering
    		                             215 215  
      reclassification of fair value of warrant liability related to exercise of preferred stock warrants
    		                                
      reclassification of deferred public offering costs to stockholders’ equity
    		                             1,590 1,590  
      reclassification of deferred public offering costs to other assets
    		                             256 256  
      retirement of treasury stock
    		                                
      net cash from investing activities:
    		                              -30  
      proceeds from issuance of 2020 convertible notes in initial public offering, net of underwriting discounts
    		                              21,000  
      net cash from financing activities:
    		                              51,474  
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.