7Baggers

Rhythm Pharmaceuticals, Inc
(NASDAQ:RYTM) 

RYTM stock logo

Rhythm Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for the treatment of rare genetic diseases of obesity. The company's lead product candidate is IMCIVREE, a potent melanocortin-4 receptor for the treatment of ...

Founded: 2008
Full Time Employees: 70
Sector: Healthcare
Industry: Biotechnology
Pharmaceuticals
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At a glance:
Bull Thesis:
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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 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 2018-03-31 2017-12-31 2017-09-30 
                                       
      revenues:
    		                                   
      product revenue
    		60,112,000 57,253,000 51,298,000 48,502,000 37,718,000 41,830,000 33,251,000 29,078,000 25,967,000 24,234,000 22,504,000 19,221,000 11,469,000 8,790,000 4,284,000 2,312,000 1,498,000 1,817,000 1,028,000 274,000 35,000               
      license revenue
    		    -5,014,000           6,754,000                    
      total revenues
    		60,112,000 57,253,000 51,298,000 48,502,000 32,704,000 41,830,000 33,251,000 29,078,000 25,967,000 24,234,000 22,504,000 19,221,000                        
      yoy
    		83.81% 36.87% 54.28% 66.80% 25.94% 72.61% 47.76% 51.28%                            
      qoq
    		4.99% 11.61% 5.76% 48.31% -21.82% 25.80% 14.35% 11.98% 7.15% 7.69% 17.08%                         
      costs and expenses:
    		                                   
      cost of sales
    		7,157,000 4,802,000 5,499,000 5,543,000 3,648,000 3,787,000 3,828,000 2,947,000 2,807,000 3,233,000 2,412,000 2,236,000 1,421,000 1,028,000 497,000 378,000 230,000 236,000 222,000 137,000 4,000               
      research and development
    		41,725,000 42,033,000 46,027,000 42,308,000 36,973,000 41,168,000 37,931,000 30,194,000 128,665,000 29,892,000 33,570,000 33,543,000 37,945,000 23,548,000 21,116,000 31,456,000 32,510,000 31,574,000 27,539,000 25,104,000 19,911,000 21,954,000 22,995,000 22,997,000 22,504,000 24,809,000 26,572,000 35,308,000 22,761,000 18,762,000 10,705,000 8,584,000 12,286,000 6,653,000 5,971,000 
      selling, general, and administrative
    		63,591,000 57,481,000 52,425,000 45,947,000 39,087,000 38,130,000 35,377,000 36,415,000 34,382,000 32,374,000 30,475,000 30,046,000 24,634,000 26,317,000 21,938,000 22,328,000 21,449,000 20,996,000 17,507,000 15,465,000 14,518,000 13,119,000 11,289,000 8,921,000 12,796,000 9,415,000 10,535,000 8,841,000 7,759,000 8,389,000 8,539,000 6,437,000 4,715,000   
      total costs and expenses
    		112,473,000 104,316,000 103,951,000 93,798,000 79,708,000 83,085,000 77,136,000 69,556,000 165,854,000 65,499,000 66,457,000 65,825,000 64,000,000 50,893,000 43,551,000 54,162,000 54,189,000 52,806,000 45,268,000 40,706,000 34,433,000               
      income from operations
    		-52,361,000 -47,063,000 -52,653,000 -45,296,000 -47,004,000 -41,255,000 -43,885,000 -40,478,000 -139,887,000 -41,265,000 -43,953,000 -46,604,000 -52,531,000 -42,103,000 -39,267,000 -45,096,000 -52,691,000 -50,989,000 -44,240,000 -40,432,000 -34,398,000 -35,073,000 -34,284,000 -31,918,000 -35,300,000 -34,224,000 -37,107,000 -44,149,000 -30,520,000 -27,151,000 -19,244,000 -15,021,000 -17,001,000 -10,983,000 -8,286,000 
      yoy
    		11.40% 14.08% 19.98% 11.90% -66.40% -0.02% -0.15% -13.14% 166.29% -1.99% 11.93% 3.34% -0.30% -17.43% -11.24% 11.54% 53.18% 45.38% 29.04% 26.67% -2.56% 2.48% -7.61% -27.70% 15.66% 26.05% 92.82% 193.92% 79.52% 147.21% 132.25%     
      qoq
    		11.26% -10.62% 16.24% -3.63% 13.94% -5.99% 8.42% -71.06% 239.00% -6.12% -5.69% -11.28% 24.77% 7.22% -12.93% -14.41% 3.34% 15.26% 9.42% 17.54% -1.92% 2.30% 7.41% -9.58% 3.14% -7.77% -15.95% 44.66% 12.41% 41.09% 28.11% -11.65% 54.79% 32.55%  
      operating margin %
    		-87.11% -82.20% -102.64% -93.39% -143.73% -98.63% -131.98% -139.20% -538.71% -170.28% -195.31% -242.46% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% 
      other income:
    		                                   
      other income
    		-1,704,000 57,000 274,000 1,576,000 -644,000 -195,000 1,088,000 302,000 524,000 559,000 -159,000 -17,000         100,000,000               
      interest expense
    		-4,583,000 -4,615,000 -4,742,000 -5,817,000 -5,409,000 -5,447,000 -5,242,000 -4,603,000 -4,755,000 -4,550,000 -3,149,000 -3,303,000 -3,061,000 -3,011,000 -2,144,000                     
      interest income
    		3,554,000 4,085,000 4,328,000 3,242,000 3,639,000 3,515,000 4,054,000 4,097,000 3,046,000 3,819,000 3,466,000 3,221,000 3,440,000 3,041,000 920,000 95,000 -73,000 134,000 138,000 21,000 154,000 176,000 466,000 801,000 1,136,000 1,268,000 1,104,000 1,353,000 1,546,000 1,644,000 1,558,000 609,000 542,000 452,000 51,000 
      total other income
    		-2,733,000 -473,000 -140,000   -2,127,000 -100,000 8,696,000 -1,185,000 -172,000 158,000 -99,000 352,000 -390,000 -1,594,000 95,000 -73,000 134,000 138,000 21,000 100,154,000 176,000 466,000 801,000 1,136,000           
      income before income taxes
    		-55,094,000 -47,536,000 -52,793,000 -46,295,000 -49,418,000 -43,382,000 -43,985,000 -31,782,000 -141,072,000                           
      provision for income taxes
    		545,000 -31,000 111,000 337,000 80,000 -90,000 -344,000 479,000 300,000 196,000 368,000       1,997,250 -8,995,000 -5,022,000 22,006,000               
      net income
    		-55,639,000 -47,505,000 -52,904,000 -46,632,000 -49,498,000 -43,292,000 -43,641,000 -32,261,000 -141,372,000 -41,633,000 -44,163,000 -46,703,000 -52,179,000 -42,493,000 -40,861,000 -45,001,000 -52,764,000 -42,866,000 -35,107,000 -35,389,000 43,750,000 -34,897,000 -33,818,000 -31,117,000 -34,164,000           
      yoy
    		12.41% 9.73% 21.23% 44.55% -64.99% 3.98% -1.18% -30.92% 170.94% -2.02% 8.08% 3.78% -1.11% -0.87% 16.39% 27.16% -220.60% 22.84% 3.81% 13.73% -228.06%               
      qoq
    		17.12% -10.21% 13.45% -5.79% 14.34% -0.80% 35.27% -77.18% 239.57% -5.73% -5.44% -10.49% 22.79% 3.99% -9.20% -14.71% 23.09% 22.10% -0.80% -180.89% -225.37% 3.19% 8.68% -8.92%            
      net income margin %
    		-92.56% -82.97% -103.13% -96.14% -151.35% -103.50% -131.25% -110.95% -544.43% -171.80% -196.25% -242.98% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% -Infinity% Infinity% -Infinity% -Infinity% -Infinity% -Infinity% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% NaN% 
      accrued dividends on convertible preferred stock
    		-1,104,000 -1,332,000 -1,375,000 -1,349,000 -1,322,000 -1,339,000 -1,329,000 -1,302,000                            
      net loss attributable to common stockholders
    		-56,743,000 -48,837,000 -54,279,000 -47,981,000 -50,820,000 -44,631,000 -44,970,000 -33,563,000                  -32,956,000 -36,003,000 -42,796,000 -28,974,000 -25,507,000 -17,686,000 -14,412,000 -16,459,000 -10,619,000 -11,429,000 
      net income per share
    		-0.83 -0.73 -0.82 -0.75 -0.81 -0.72 -0.73 -0.55 -2.35 -0.7 -0.76 -0.82 -0.92 -0.74 -0.79   -0.86 -0.7   -0.79 -0.77 -0.71 -0.78 -0.73 -1.04 -1.24 -0.84       
      weighted-average common shares outstanding, basic and diluted
    		67,974,193 64,984,361 66,261,055 63,684,359 63,059,165 60,995,204 61,219,918 61,011,824 60,143,558 57,673,128 57,874,960 56,867,662 56,708,975 52,120,701 51,400,922   49,600,294 50,246,303   44,127,220 44,142,334 44,098,860 44,049,843 36,422,450 34,541,765 34,452,661 34,417,189 31,004,047,000 34,256,519,000 27,960,664,000 27,284,140,000 13,267,960,000 6,404,254,000 
      other comprehensive income:
    		                                   
      foreign currency translation adjustment
    		1,784 11 834 -2,104 -2 977 -602 -302 -71 -189 76 -48 21                       
      unrealized gain, net on marketable securities
    		-544 96.25 488      -244 436 -175 40 65 247 267                     
      comprehensive loss
    		-54,399 -48,707 -52,957 -50,178 -50,832 -44,067 -44,957 -33,999 -141,687 -41,386 -44,262 -46,711 -52,093 -42,246 -40,294   -42,760 -35,107   -35,086 -34,210 -30,550 -34,101           
      gain on settlement of forward contract
    		       8,900,000                            
      other comprehensive loss:
    		                                   
      total other (expense)
    		   -999,000 -2,414,000                               
      unrealized (loss), net on marketable securities
    		   -93 -10                               
      unrealized gain, net on marketable securities, net of tax
    		     -412 615 -134                            
      loss before taxes
    		         -35,669,250 -43,795,000   -34,656,500 -40,861,000   -4,689,250 -44,102,000                 
      reclassification of losses on rarestone equity into net loss
    		              300                     
      other expense
    		            -27,000 -92,500 -370,000                     
      income before taxes
    		               -45,001,000 -52,764,000   -40,411,000 65,756,000               
      net income per share
    		-0.83 -0.73 -0.82 -0.75 -0.81 -0.72 -0.73 -0.55 -2.35 -0.7 -0.76 -0.82 -0.92 -0.74 -0.79   -0.86 -0.7   -0.79 -0.77 -0.71 -0.78 -0.73 -1.04 -1.24 -0.84       
      basic
    		               -0.89 -1.05   -0.7 0.92               
      diluted
    		               -0.89 -1.05   -0.7 0.9               
      weighted-average common shares outstanding
    		                                   
      basic
    		               50,398,003 50,326,627   50,209,484 47,638,565               
      diluted
    		               50,398,003 50,326,627   50,209,484 48,501,697               
      unrealized income on marketable securities and other long-term assets
    		               -277                    
      comprehensive income
    		               -45,278 -53,392   -35,310 43,643               
      unrealized loss on marketable securities
    		                -628                   
      unrealized gain on marketable securities
    		                 106  79 -107 -189 -392 567 63           
      operating expenses:
    		                                   
      total operating expenses
    		                     35,073,000 34,284,000 31,918,000 35,300,000 34,224,000 37,107,000 44,149,000 30,520,000 27,151,000 19,244,000 15,021,000 17,001,000 10,983,000 8,286,000 
      total other income:
    		                         1,000,750 1,104,000 1,353,000 1,546,000 1,644,000 1,558,000 609,000 542,000 452,000 -1,730,000 
      net loss and comprehensive loss
    		                         -26,943,250 -36,003,000 -42,796,000 -28,974,000 -25,507,000 -17,686,000 -14,412,000 -16,459,000 -10,531,000 -10,016,000 
      revaluation of series a investor instrument and series a investor right/obligation
    		                                   
      net loss attributable to common stockholders per common share, basic and diluted
    		                             -760 -520 -520 -600 190 -1,780 
      general and administrative
    		                                 1,297,000 2,315,000 
      revaluation of series a investor instrument
    		                                 -465,750 -1,781,000 
    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 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 2018-03-31 2017-12-31 2017-09-30 
                                         
        assets
      		                                   
        current assets:
      		                                   
        cash and cash equivalents
      		62,137,000 54,301,000 52,078,000 135,586,000 106,095,000 89,137,000 47,521,000 161,669,000 53,428,000 60,081,000 64,593,000 115,684,000 109,661,000 127,677,000 185,087,000 113,207,000 78,537,000 59,248,000 92,372,000 69,339,000 87,271,000 100,854,000 67,670,000 59,091,000 55,776,000 62,294,000 71,680,000 63,118,000 42,020,000 49,542,000 58,247,000 210,484,000 43,167,000 34,236,000 27,914,000 
        short-term investments
      		278,488,000 334,648,000 363,974,000 155,444,000 208,393,000 231,428,000 250,869,000 157,461,000 147,771,000 215,765,000 234,667,000 137,918,000 184,921,000 205,611,000 162,708,000 122,389,000 162,427,000 235,607,000 235,982,000 298,815,000 317,479,000 71,938,000 134,114,000 169,535,000 201,648,000 230,165,000 90,755,000 132,049,000 179,503,000 202,519,000 214,139,000 77,070,000 93,286,000 113,846,000 2,501,000 
        accounts receivable
      		34,192,000 26,081,000 33,034,000 26,122,000 17,825,000 18,512,000 19,306,000 17,598,000 14,695,000 14,867,000 14,541,000 13,831,000 8,117,000 6,224,000 3,328,000 1,707,000 862,000 1,025,000                  
        inventory
      		28,651,000 25,753,000 22,107,000 18,872,000 19,316,000 18,741,000 13,895,000 11,994,000 8,507,000 8,624,000 7,762,000 6,178,000 5,487,000 2,917,000                      
        prepaid expenses and other current assets
      		26,622,000 26,133,000 23,609,000 24,656,000 17,659,000 16,382,000 8,750,000 8,644,000 11,352,000 8,931,000 7,638,000 10,267,000 9,652,000 11,807,000 10,751,000 12,029,000 11,623,000 12,507,000 7,282,000 10,300,000 7,384,000 8,876,000 8,130,000 9,193,000 10,436,000 9,945,000 8,442,000 8,334,000 8,646,000 6,628,000 4,152,000 3,217,000 1,961,000 2,589,000 1,621,000 
        total current assets
      		430,090,000 466,916,000 494,802,000 360,680,000 369,288,000 374,200,000 340,341,000 357,366,000 235,753,000 308,268,000 329,201,000 283,878,000 317,838,000 354,236,000 361,874,000 249,332,000 253,449,000 308,387,000 335,636,000 378,454,000 412,134,000 181,668,000 209,914,000 237,819,000 267,860,000 302,404,000 170,877,000 203,501,000 230,169,000 258,689,000 276,538,000 290,771,000 138,414,000 150,671,000 32,036,000 
        property and equipment
      		1,065,000 1,104,000 237,000 297,000 462,000 632,000 801,000 973,000 1,149,000 1,341,000 1,545,000 1,773,000 2,001,000 2,197,000 2,426,000 2,559,000 2,722,000 2,813,000 2,956,000 3,051,000 3,006,000 3,195,000 3,289,000 3,331,000 3,504,000 3,671,000 3,862,000 3,901,000 2,757,000       
        right-of-use asset
      		2,936,000 3,049,000 3,158,000 3,262,000 3,367,000 3,477,000 3,588,000 3,696,000 670,000 781,000 888,000 990,000 1,088,000 1,182,000 1,273,000 1,359,000 1,442,000 1,522,000 1,598,000 1,671,000 1,741,000 1,807,000 1,871,000 1,932,000 1,989,000 2,045,000 2,097,000 3,085,000 3,174,000       
        intangible assets
      		5,106,000 5,319,000 5,533,000 5,747,000 5,960,000 6,174,000 6,388,000 6,601,000 6,815,000 7,028,000 7,242,000 7,456,000 7,669,000 7,883,000 8,097,000 8,311,000 8,527,000 4,658,000 4,772,000 4,886,000 5,000,000               
        restricted cash
      		601,000 522,000 671,000 527,000 464,000 464,000 462,000 460,000 460,000 328,000 328,000 328,000 328,000 328,000 328,000 328,000 328,000 328,000 328,000 328,000 328,000 403,000 403,000 403,000 403,000 403,000 402,000 401,000 402,000 401,000 251,000 250,000 250,000 225,000 225,000 
        other long-term assets
      		2,518,000 3,286,000 2,473,000 2,220,000 7,144,000 7,326,000 11,992,000 12,750,000 13,804,000 14,999,000 14,995,000 15,518,000 16,754,000 16,655,000 15,616,000 15,786,000 18,356,000 11,815,000 10,533,000                 
        total assets
      		442,316,000 480,196,000 506,874,000 372,733,000 386,685,000 392,273,000 363,572,000 381,846,000 258,651,000 332,745,000 354,199,000 309,943,000 345,678,000 382,481,000 389,614,000 277,675,000 284,824,000 329,523,000 355,823,000 388,390,000 422,209,000 187,073,000 215,477,000 243,485,000 273,756,000 308,523,000 177,533,000 210,888,000 236,502,000 260,210,000 277,728,000 291,749,000 139,443,000 151,736,000 34,804,000 
        liabilities, convertible preferred stock and stockholders’ equity
      		                                   
        current liabilities:
      		                                   
        accounts payable
      		12,299,000 13,947,000 13,631,000 15,982,000 11,912,000 12,328,000 4,887,000 4,543,000 7,550,000 4,885,000 3,839,000 8,383,000 13,347,000 4,797,000 4,933,000 6,012,000 12,010,000 5,737,000 4,614,000 5,009,000 9,147,000 4,900,000 3,793,000 4,761,000 5,932,000 10,415,000 7,745,000 6,565,000 3,992,000 7,640,000 208,000 3,312,000 2,456,000 2,427,000 2,271,000 
        accrued expenses and other current liabilities
      		80,045,000 83,855,000 84,456,000 69,185,000 59,314,000 62,658,000 54,797,000 48,077,000 44,531,000 48,262,000 44,271,000 35,708,000 30,549,000 32,894,000 25,741,000 35,605,000 25,199,000 30,084,000 18,265,000 11,880,000 7,150,000 12,559,000 11,536,000 9,640,000 11,277,000 13,530,000 17,005,000 19,146,000 8,373,000 5,942,000 7,595,000 3,849,000 3,038,000 4,210,000 3,108,000 
        lease liability
      		676,000 650,000 624,000 510,000 224,000   816,000 793,000 770,000 748,000 726,000 705,000 684,000 664,000 644,000 625,000 606,000 588,000 570,000 553,000 535,000 519,000 503,000 487,000 472,000 457,000 379,000 202,000       
        deferred revenue
      		48,000 194,000    1,286,000 1,286,000 1,286,000 1,286,000 1,286,000 1,286,000 1,286,000 1,428,000 1,434,000 1,760,000 2,309,000                    
        deferred royalty obligation, current
      		10,130,000 7,296,000 5,556,000 3,778,000 1,590,000 1,541,000                              
        total current liabilities
      		103,198,000 105,942,000 104,267,000 129,455,000 111,823,000 115,517,000 97,605,000 54,722,000 54,160,000 55,203,000 50,144,000 46,103,000 46,029,000 39,809,000 33,098,000 44,570,000 47,274,000 43,427,000 23,467,000 17,459,000 16,850,000 17,994,000 15,848,000 14,904,000 17,696,000 24,417,000 25,207,000 26,090,000 12,567,000 13,582,000 7,803,000 7,247,000 5,579,000 6,720,000 5,460,000 
        long-term liabilities:
      		                                   
        deferred royalty obligation
      		98,339,000 100,886,000 103,409,000 106,014,000 107,934,000 108,269,000 109,241,000 108,372,000 107,368,000 106,143,000 104,699,000 79,347,000 77,520,000 75,810,000 72,961,000 34,273,000                    
        lease liability, non-current
      		3,163,000 3,342,000 3,515,000 3,681,000 3,839,000 3,938,000 4,030,000 3,301,000 284,000 490,000                          
        total liabilities
      		204,700,000 210,170,000 211,191,000 239,150,000 223,596,000 227,724,000 210,876,000 202,351,000 197,070,000 162,986,000 156,725,000 127,658,000 125,915,000 118,219,000 108,419,000 82,047,000 49,055,000 45,372,000 33,560,000 36,701,000 41,262,000 20,545,000 18,540,000 17,732,000 20,655,000 27,503,000 28,418,000 29,421,000 16,013,000 13,954,000 8,091,000 7,432,000 5,785,000 6,948,000 5,710,000 
        commitments and contingencies
      		                                   
        series a convertible preferred stock, 0.001 par value: 150,000 shares authorized; 115,000 and 132,500 shares issued and outstanding at march 31, 2026 and december 31, 2025, respectively. liquidation preference of 115,000 and 132,500 as of march 31, 2026, and december 31, 2025, respectively.
      		114,710,000                                   
        stockholders’ equity:
      		                                   
        preferred stock, 0.001 par value: 9,850,000 shares authorized; no shares issued and outstanding at march 31, 2026 and december 31, 2025
      		                                   
        common stock
      		69,000 67,000 67,000 64,000 62,000 61,000 61,000 60,000 60,000 59,000 59,000 57,000 56,000 56,000 56,000 50,000 50,000 50,000 50,000 50,000 50,000 44,000 44,000 44,000 44,000 44,000 35,000 34,000 34,000 34,000 34,000 34,000 27,000 27,000 2,000 
        additional paid-in capital
      		1,529,909,000 1,491,675,000 1,454,048,000 1,241,744,000 1,223,772,000 1,177,045,000 1,123,768,000 1,108,269,000 1,097,810,000 1,064,302,000 1,050,631,000 991,182,000 981,950,000 974,356,000 949,043,000 823,188,000 818,051,000 813,041,000 808,265,000 802,584,000 796,532,000 625,762,000 621,085,000 615,691,000 612,552,000 606,307,000 441,455,000 437,805,000 434,031,000 430,824,000 428,698,000 425,406,000 260,342,000 255,013,000 47,784,000 
        accumulated other comprehensive income
      		444,000 -796,000    -39,000 -604,000 -617,000 -181,000 134,000        -1,000 21,000 21,000 -58,000 49,000 238,000 630,000            
        accumulated deficit
      		-1,407,516,000 -1,351,877,000 -1,304,372,000 -1,251,468,000 -1,204,836,000 -1,155,338,000 -1,112,010,000 -1,068,369,000 -1,036,108,000 -894,736,000 -853,103,000 -808,940,000 -762,237,000 -710,058,000 -667,565,000 -626,704,000 -581,703,000 -528,939,000 -486,073,000 -450,966,000 -415,577,000 -459,327,000 -424,430,000 -390,612,000 -359,495,000 -325,331,000 -292,375,000 -256,372,000 -213,576,000 -184,602,000 -159,095,000 -141,123,000 -126,711,000 -110,252,000 -99,721,000 
        total stockholders’ equity
      		122,906,000 139,069,000 148,817,000 -11,908,000 18,947,000 21,729,000 11,215,000 39,343,000 61,581,000 169,759,000 197,474,000 182,285,000 219,763,000 264,262,000 281,195,000 195,628,000 235,769,000 284,151,000 322,263,000 351,689,000 380,947,000 166,528,000 196,937,000 225,753,000 253,101,000 281,020,000 149,115,000 181,467,000 220,489,000 246,256,000 269,637,000 284,317,000 133,658,000 144,788,000 -51,856,000 
        total liabilities, convertible preferred stock and stockholders’ equity
      		442,316,000 480,196,000 506,874,000 372,733,000 386,685,000 392,273,000 363,572,000 381,846,000                      260,210,000 277,728,000 291,749,000 139,443,000 151,736,000 34,804,000 
        other current liability - lg chem
      		   40,000,000 38,783,000 37,704,000 36,635,000                             
        derivative liability
      		       360,000 660,000 1,150,000 1,190,000 1,320,000 1,290,000 1,340,000 920,000 1,590,000                    
        series a convertible preferred stock, 0.001 par value: 150,000 shares authorized; 132,500 and 150,000 shares issued and outstanding at december 31, 2025 and december 31, 2024, respectively. liquidation preference of 132,500 and 150,000 as of december 31, 2025, and december 31, 2024, respectively.
      		 130,957,000                                  
        series a convertible preferred stock, 0.001 par value: 150,000 shares authorized; 150,000 and 150,000 shares issued and outstanding at september 30, 2025 and december 31, 2024, respectively. liquidation preference of 150,000 as of september 30, 2025.
      		  146,866,000                                 
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at september 30, 2025 and december 31, 2024
      		                                   
        accumulated other comprehensive
      		  -926,000 -2,248,000 -51,000                               
        series a convertible preferred stock, 0.001 par value: 150,000 shares authorized; 150,000 and 150,000 shares issued and outstanding at june 30, 2025 and december 31, 2024, respectively. liquidation preference of 150,000 as of june 30, 2025.
      		   145,491,000                                
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at june 30, 2025 and december 31, 2024
      		                                   
        series a convertible preferred stock, 0.001 par value: 150,000 shares authorized; 150,000 and 150,000 shares issued and outstanding at march 31, 2025 and december 31, 2024, respectively. liquidation preference of 150,000 as of march 31, 2025.
      		    144,142,000                               
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at march 31, 2025 and december 31, 2024
      		                                   
        series a convertible preferred stock, 0.001 par value: 150,000 shares authorized; 150,000 and 0 shares issued and outstanding at december 31, 2024 and december 31, 2023, respectively. liquidation preference of 150,000 as of december 31, 2024.
      		     142,820,000                              
        series a convertible preferred stock, 0.001 par value: 150,000 shares authorized; 150,000 and 0 shares issued and outstanding at september 30, 2024 and december 31, 2023, respectively. liquidation preference of 150,000 as of september 30, 2024.
      		      141,481,000                             
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at september 30, 2024 and december 31, 2023
      		                                   
        other long-term liabilities
      		       35,596,000 34,598,000                           
        series a convertible preferred stock, 0.001 par value: 150,000 shares authorized; 150,000 and 0 shares issued and outstanding at june 30, 2024 and december 31, 2023, respectively. liquidation preference of 150,000 as of june 30, 2024.
      		       140,152,000                            
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at june 30, 2024 and december 31, 2023
      		                                   
        liabilities and stockholders’ equity
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at march 31, 2024 and december 31, 2023
      		                                   
        total liabilities and stockholders’ equity
      		        258,651,000 332,745,000 354,199,000 309,943,000 345,678,000 382,481,000 389,614,000 277,675,000 284,824,000 329,523,000 355,823,000 388,390,000 422,209,000 187,073,000 215,477,000 243,485,000 273,756,000 308,523,000 177,533,000 210,888,000 236,502,000       
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at december 31, 2023 and december 31, 2022
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at september 30, 2023 and december 31, 2022
      		                                   
        accumulated other comprehensive loss
      		          -113,000 -14,000 -6,000 -92,000 -339,000 -906,000 -629,000                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at june 30, 2023 and december 31, 2022
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at march 31, 2023 and december 31, 2022
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at december 31, 2022 and december 31, 2021
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at september 30, 2022 and december 31, 2021
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at june 30, 2022 and december 31, 2021
      		                                   
        contract liability
      		                9,440,000 7,000,000                  
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at march 31, 2022 and december 31, 2021
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at december 31, 2021 and december 31, 2020
      		                                   
        deferred tax liability
      		                  7,989,000 16,984,000 22,006,000               
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at september 30, 2021 and december 31, 2020
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at june 30, 2021 and december 31, 2020
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at march 31, 2021 and december 31, 2020
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at december 31, 2020 and december 31, 2019
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at september 30, 2020 and december 31, 2019
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at june 30, 2020 and december 31, 2019
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at march 31, 2020 and december 31, 2019, respectively
      		                                   
        deferred rent
      		                               86,000 85,000 83,000 81,000 
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at december 31, 2019 and 2018
      		                                   
        deferred issuance costs
      		                          295,000        1,698,000 
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at september 30, 2019 and december 31, 2018, respectively
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at june 30, 2019 and december 31, 2018, respectively
      		                                   
        preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at march 31, 2019 and december 31, 2018, respectively
      		                                   
        property, plant and equipment
      		                             1,120,000 939,000 728,000 779,000 840,000 845,000 
        preferred stock:
      		                                   
        convertible preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at december 31, 2018 and december 31, 2017, respectively
      		                                   
        convertible preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at september 30, 2018 and december 31, 2017, respectively
      		                                   
        convertible preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at june 30, 2018 and december 31, 2017, respectively
      		                                   
        convertible preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at march 31, 2018 and december 31, 2017, respectively
      		                                   
        due to related party
      		                                   
        series a convertible preferred stock, 0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding at december 31, 2017 and 40,000,000 shares issued and outstanding at december 31, 2016;
      		                                   
        stockholders’ equity
      		                                   
        series a convertible preferred stock, 1.00 par value: 80,950,000 shares authorized; 80,949,999 shares issued and outstanding at september 30, 2017 and 40,000,000 shares issued and outstanding at december 31, 2016;
      		                                  80,950,000 
        series a-1 convertible junior preferred stock, 0.001 par value...
      		                                  79,000 
      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 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 2018-03-31 2017-12-31 
                                          
          operating activities
        		                                  
          net loss
        		-55,639,000 -47,505,000 -52,904,000 -46,632,000 -49,498,000 -43,292,000 -43,677,000 -32,261,000 -141,372,000 -41,633,000 -44,163,000 -46,703,000 -52,179,000 -42,493,000    -42,866,000    -34,897,000 -33,818,000 -31,117,000 -34,164,000 -32,956,000 -36,003,000 -42,796,000 -28,974,000 -25,507,000 -17,686,000 -14,412,000 -16,459,000 -10,531,000 
          adjustments to reconcile net loss to net cash from operating activities:
        		                                  
          stock-based compensation expense
        		23,099,000 19,266,000 18,810,000 15,880,000 12,862,000 10,556,000 11,001,000 10,358,000 7,767,000 8,674,000 8,612,000 8,891,000 6,376,000 5,287,000 4,796,000 5,137,000 4,611,000 4,676,000 5,268,000 5,669,000 5,191,000 4,257,000 4,695,000 3,028,000 5,475,000 2,924,000 3,035,000 3,272,000 2,644,000 2,023,000 1,893,000 1,516,000 958,000 709,000 
          depreciation and amortization
        		252,000 272,000 304,000 379,000 383,000 383,000 385,000 390,000 405,000 417,000 442,000 442,000 457,000 442,000 442,000 438,000 350,000 325,000 315,000 317,000 201,000 178,000 172,000 173,000 167,000 191,000 191,000 207,000 245,000 214,000 106,000 61,000 61,000 60,000 
          non-cash interest expense
        		4,577,000 4,616,000 4,742,000 5,818,000 5,408,000 8,413,000 4,203,000                            
          non-cash accretion & amortization of short-term investments
        		-1,436,000 -1,855,000 -1,695,000 -1,179,000 -1,787,000 -2,138,000 -2,465,000 -1,507,000 -2,055,000                          
          non-cash rent expense
        		113,000 109,000 104,000 105,000 110,000 111,000 108,000 70,000 111,000 107,000 102,000 98,000 94,000 -69,000 -68,000 -65,000 -65,000 -65,000 -63,000 -61,000 -61,000   -58,000 -56,000 -58,000 8,000 151,000 102,000 84,000 17,000 -20,000 -20,000 -20,000 
          change in fair value of embedded derivative liability
        		330,000 -130,000 -360,000 -500,000 80,000 -120,000 -510,000 -300,000 -490,000 -40,000 -130,000 30,000 -50,000                      
          foreign currency loss
        		1,352,000  1,270,000                                
          other non-cash items
        		178,000                                  
          changes in operating assets and liabilities:
        		                                  
          accounts receivable
        		-8,110,000 6,175,000 -6,600,000 -7,832,000 687,000 794,000 -1,708,000 -2,903,000 172,000 -326,000 -710,000 -5,714,000 -1,893,000                      
          inventory
        		-3,086,000 -4,927,000 -2,451,000 479,000 -575,000 -4,846,000 -1,901,000 -3,487,000 117,000 -862,000 -1,585,000 -690,000 -2,570,000                      
          prepaid expenses and other current assets
        		-487,000 -2,707,000 6,385,000 -6,801,000 -3,204,000 -5,705,000 -106,000 2,708,000 -2,421,000 5,243,000 497,000 -2,678,000 -186,000 -744,000 -492,000 -1,530,000 950,000 -6,191,000 2,965,000 -3,025,000 1,651,000 -541,000 1,444,000 495,000 -847,000 -1,786,000 -544,000 -727,000 -3,321,000 -3,526,000 -1,927,000 -1,414,000 581,000 -917,000 
          deferred revenue
        		-145,000 194,000 0 0 -1,286,000     0 0 -142,000 -6,000 -7,080,000 -549,000                    
          other long-term assets
        		435,000 -681,000 -5,242,000 5,424,000 102,000 4,786,000 908,000 1,054,000 1,195,000 -4,000 537,000 1,222,000 -99,000 1,000 -870,000 2,690,000 -6,661,000 -1,282,000                 
          accounts payable, accrued expenses and other liabilities
        		-5,618,000 1,255,000 11,015,000 13,255,000 -3,633,000 15,179,000 7,508,000 482,000 -1,251,000 4,858,000 4,087,000 661,000 5,167,000                      
          net cash from operating activities
        		-44,185,000 -25,389,000 -26,622,000 -23,313,000 -40,351,000 -18,845,000 -25,215,000 -29,076,000 -40,743,000 -29,383,000 -29,251,000 -41,090,000 -36,433,000 -34,000,000 -46,987,000 -38,809,000 -53,632,000 -40,472,000 -40,160,000 -31,840,000 -33,531,000 -29,123,000 -27,030,000 -29,729,000 -36,098,000 -32,221,000 -33,605,000 -25,546,000 -31,378,000 -20,983,000 -16,942,000 -12,480,000 -11,651,000 -7,885,000 
          capital expenditures
        		0 0 0 0 0 0 0 0  1,000 -1,000 0 -47,000 1,000 -95,000 -60,000 -127,000 -68,000 -106,000 -248,000 -12,000 -84,000 0 0  0 -259,000 -2,315,000 -811,000 -395,000 -317,000 0  -55,000 
          free cash flows
        		-44,185,000 -25,389,000 -26,622,000 -23,313,000 -40,351,000 -18,845,000 -25,215,000 -29,076,000  -29,382,000 -29,252,000 -41,090,000 -36,480,000 -33,999,000 -47,082,000 -38,869,000 -53,759,000 -40,540,000 -40,266,000 -32,088,000 -33,543,000 -29,207,000 -27,030,000 -29,729,000  -32,221,000 -33,864,000 -27,861,000 -32,189,000 -21,378,000 -17,259,000 -12,480,000  -7,940,000 
          investing activities
        		                                  
          purchases of short-term investments
        		-42,199,000 -20,347,000 -267,847,000 -26,954,000 -33,521,000 -66,378,000 -135,623,000   -40,653,000 -169,187,000 -75,434,000 -69,644,000 -100,416,000 -101,081,000 -10,961,000 -39,479,000 -68,734,000 -93,769,000 -64,927,000 -297,542,000 -33,471,000 -9,985,000 -28,043,000 -15,370,000 -184,877,000 -41,073,000 -14,056,000 -55,819,000 -60,033,000 -168,150,000 -18,386,000 -2,023,000 -113,896,000 
          maturities of short-term investments
        		99,251,000 51,647,000 61,500,000 80,989,000 58,333,000 87,535,000 45,305,000 57,750,000 70,050,000 63,292,000 74,500,000 124,500,000 92,675,000 59,640,000 61,479,000 51,000,000 112,128,000 69,050,000 156,655,000 83,700,000 51,842,000 95,442,000 45,025,000 60,904,000 44,243,000 45,750,000 82,803,000 62,516,000 80,171,000 72,703,000 32,000,000 34,833,000 22,630,000 2,500,000 
          net cash from investing activities
        		57,052,000 30,347,000 -246,347,000 54,035,000 24,812,000 21,157,000 -90,818,000 -8,562,000 30,050,000 22,640,000 -94,960,000 48,191,000 18,464,000 -40,775,000 -39,697,000 35,979,000 72,522,000 7,248,000 62,780,000 13,525,000 -145,712,000 61,887,000 34,910,000 32,861,000 28,873,000 -139,127,000 41,471,000 46,145,000 23,541,000 12,275,000 -136,467,000 16,437,000 20,607,000 -111,451,000 
          financing activities
        		                                  
          repayment of deferred royalty obligation
        		-4,288,000 -5,400,000 -5,570,000 -4,332,000 -4,615,000 -3,808,000 -3,336,000 -2,973,000 -2,783,000    -1,351,000                      
          proceeds from the exercise of stock options
        		6,095,000 2,449,000 5,486,000 3,443,000 2,226,000 2,990,000 5,231,000 1,402,000 6,353,000 4,997,000 1,577,000 341,000 553,000 5,889,000    105,000 180,000 383,000 3,466,000 420,000 501,000 183,000 383,000 611,000 434,000 498,000 21,000 174,000 1,308,000   0 
          tax withholding on vesting of restricted stock
        		-8,458,000                                  
          proceeds from issuance of common stock from espp
        		1,251,000 1,000 729,000 0 854,000 0 597,000 0 673,000 0 388,000 0 665,000 0 227,000 0 399,000 0 233,000 0 388,000 0 198,000 0 324,000 0 263,000 0 295,000      
          proceeds from atm equity offering
        		  1,000 0 34,034,000                              
          net cash from financing activities
        		-5,400,000 -2,948,000 189,301,000 -889,000 32,499,000 38,328,000 2,492,000 146,179,000 4,243,000 2,423,000 73,043,000 -965,000 -133,000 17,365,000 158,564,000 37,500,000 399,000 100,000 413,000 383,000 165,585,000 420,000 699,000 183,000 707,000 161,963,000 697,000 498,000 316,000 153,000 1,173,000   125,658,000 
          effect of exchange rates on cash
        		448,000 64,000 304,000 -279,000 -2,000 977,000 -603,000 -301,000 -71,000 -192,000 77,000 -113,000 86,000                      
          net increase in cash, cash equivalents and restricted cash
        		7,915,000 2,074,000 -83,364,000 29,554,000 16,958,000 41,618,000 -114,145,000   -4,512,000 -51,091,000 6,023,000 -18,016,000 -57,410,000 71,880,000 34,670,000 19,289,000 -33,124,000    33,184,000 8,579,000 3,315,000 -6,518,000 -9,385,000 8,563,000 21,097,000 -7,521,000 -8,555,000 -152,236,000 167,317,000 8,956,000  
          cash, cash equivalents and restricted cash at beginning of period
        		54,823,000 0 0 0 89,601,000 0 0 0 60,409,000 0 0 0 128,005,000 0 0 0 59,576,000 0 0 0 101,257,000 0     0 0 49,943,000 0 0    
          cash, cash equivalents and restricted cash at end of period
        		62,738,000 2,074,000 -83,364,000 29,554,000 106,559,000 41,618,000 -114,145,000 108,240,000 53,888,000 -4,512,000 -51,091,000 6,023,000 109,989,000 -57,410,000 71,880,000 34,670,000 78,865,000 -33,124,000 23,033,000 -17,932,000 87,599,000 33,184,000     8,563,000 21,097,000 42,422,000 -8,555,000 -152,236,000    
          supplemental disclosure of non-cash investing and financing activities:
        		                                  
          accretion of preferred stock dividends
        		1,104,000 1,332,000 1,375,000 1,349,000 1,322,000 1,339,000 1,329,000                            
          gain on settlement of forward contract
        		     0 0                            
          acquired ipr&d assets classified as investing activities
        		     0 0 0 92,385,000 0 17,000 255,000 5,395,000                      
          acquisition of ipr&d assets
        		 0    0 -500,000 0 -40,000,000                          
          purchases of property and equipment
        		         1,000 -1,000 0 -47,000 1,000 -95,000 -60,000 -127,000 -68,000 -106,000 -248,000 -12,000 -84,000    0 -259,000 -2,315,000 -811,000      
          proceeds from issuance of common stock upon completion of public offering, net of offering costs
        		 2,000                                 
          net proceeds from issuance of common stock
        		         0    14,138,000    -5,000 0 0 161,731,000         -21,000 -135,000    
          proceeds from royalty financing agreement, net of issuance costs
        		         0                         
          proceeds from series a preferred stock, net of issuance costs
        		     0 0                            
          non-current liability issued in exchange for the acquisition of ipr&d
        		     0 0 0 33,669,000                          
          issuance of common stock in exchange for ipr&d
        		     0 0 0 18,716,000                          
          loss on rarestone equity investment
        		             0                     
          payment of milestone obligation under license agreement
        		             0                     
          non-cash accretion of other current liability
        		                                  
          non-cash accretion of non-current liability
        		       998,000 929,000                          
          holdback payable associated with acquisition of ipr&d assets, in accrued expenses
        		                                  
          transaction costs associated with acquisition of ipr&d assets, in accounts payable
        		                                  
          non-cash interest expense and amortization of debt issuance costs
        		        4,009,000 4,018,000 3,148,000 3,133,000 3,061,000 3,199,000                     
          unrealized loss on short-term investments
        		        -244,000                          
          net decrease in cash, cash equivalents and restricted cash
        		        -6,521,000           -17,932,000 -13,658,000              
          supplemental disclosure of non-cash investing activities:
        		                                  
          gain on sale of priority review voucher
        		                 0 0 0 -100,000,000              
          proceeds from sale of priority review voucher
        		                 0 0 0 100,000,000              
          proceeds from out-license agreement
        		                                  
          acquisition of ipr&d assets, including transaction costs
        		         0 -272,000 -875,000 -4,520,000                      
          repayments on deferred royalty obligation
        		          -2,167,000                        
          deferred financing costs in accrued expenses
        		              -354,000                    
          unrealized gain on short-term investments
        		                                  
          holdback payable associated with the acquisition, in accrued expenses
        		           0 500,000                      
          transaction costs associated with the acquisition, in accounts payable
        		           -120,000 375,000                      
          accounts payable, accrued expenses and other current liabilities
        		             15,712,000 -12,569,000 -1,547,000 -53,000 12,920,000 5,990,000 5,671,000 -6,269,000 1,941,000 536,000 -2,250,000 -6,673,000 -536,000 -1,230,000 14,347,000 -2,074,000 5,729,000 655,000 1,789,000 -1,220,000 1,116,000 
          deferred tax provision
        		                  -8,995,000 -5,022,000 22,006,000              
          proceeds from royalty financing agreement
        		              37,500,000                    
          supplemental disclosures:
        		                                  
          net income
        		               -45,001,000 -52,764,000   -35,389,000 43,750,000              
          amortization of debt issuance costs
        		                                  
          milestone obligation under license agreement
        		                 0 0                
          adjustments to reconcile net loss to cash from operating activities:
        		                                  
          adjustments to reconcile net income to cash from operating activities:
        		                                  
          non-cash research and development license expense
        		                             0 0 0 4,448,000  
          deferred rent
        		                                  
          tenant improvement allowance
        		                         0         
          deferred rent expense
        		                                  
          cash, cash equivalents and restricted cash at beginning of year
        		                       0 62,697,000        34,461,000  
          cash, cash equivalents and restricted cash at end of year
        		                       3,315,000 56,179,000        43,417,000  
          mark to market revaluation of series a investor instrument
        		                                  
          deferred issuance costs
        		                                 1,698,000 
          due to related party
        		                                  
          net proceeds from issuance of series a convertible preferred stock
        		                                 0 
          deferred grant income
        		                                  
          due to related parties
        		                                 0 
          purchases of property, plant and equipment
        		                             -395,000 -317,000   -55,000 
          modification of warrant in connection with license agreement
        		                                  
          mark to market revaluation of series a investor instrument and series a investor right/obligation
        		                                  
          restricted cash
        		                                  
          equity contribution
        		                                  
          net increase in cash and cash equivalents
        		                                 6,322,000 
          cash and cash equivalents at beginning of year
        		                                  
          cash and cash equivalents at end of year
        		                                  
          cash and cash equivalents at beginning of period
        		                                  
          cash and cash equivalents at end of period