Cassava Sciences, Inc
(NASDAQ:SAVA)

Cassava Sciences, Inc., a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-b...

Website: https://www.cassavasciences.com/

Founded: 1998

Full Time Employees: 9

CEO: Remi Barbier

Sector: Healthcare

Industry: Biotechnology

Biotechnology Alzheimer's

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Unit: USD	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	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-05-04	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-05-04

operating expenses:
research and development	3,853,000	3,955,000	5,116,000	13,666,000	12,276,750	17,676,000	15,198,000	16,233,000																					741,750	436,000	1,463,000	1,068,000	1,544,000	1,619,000	3,063,000	1,388,000	1,335,000	2,657,000	1,589,000	3,595,000	3,620,000	2,356,000	1,986,000	1,138,000	1,108,000	2,116,000	1,935,000	2,147,000	1,151,000	1,444,000	1,139,000	1,183,000	2,101,000	2,379,000	1,516,000	1,609,000	1,711,000	2,019,000	2,392,000	2,178,000	8,010,000	2,360,000	2,248,000	3,127,000	3,812,000	4,521,000	5,090,000	7,636,000	9,190,000	12,928,000	11,215,000	12,484,000	13,559,000	13,268,000	11,044,000	9,860,000	13,290,000	10,471,000	10,188,000	12,854,000	7,155,000	8,144,000	9,518,000	8,122,000	8,869,000	8,547,000	8,181,000	9,496,000	6,052,000	5,358,000	3,715,000	43,715,000	3,788,000
general and administrative	9,699,000	7,905,000	40,276,000	10,920,000	8,957,000	12,947,000	46,204,000	3,701,000	4,058,000	4,276,000	3,808,000	4,392,000	3,285,000	2,819,000	2,969,000	2,915,000	4,102,000	1,712,000	1,237,000	1,004,000	1,105,000	1,038,000	818,000	778,000	838,000	831,000	845,000	877,000	748,000	848,000	998,000	1,099,000	879,000	977,000	1,103,000	1,376,000	1,208,000	884,000	1,455,000	2,234,000	914,000	1,330,000	1,401,000	1,457,000	1,059,000	1,429,000	1,322,000	1,317,000	1,190,000	1,290,000	1,139,000	1,218,000	2,207,000	2,001,000	1,461,000	1,512,000	1,620,000	1,753,000	1,788,000	1,537,000	9,510,000	2,107,000	1,663,000	1,486,000	1,583,000	1,530,000	1,414,000	1,731,000	1,927,000	3,552,000	1,896,000	1,819,000	2,134,000	2,011,000	2,102,000	1,838,000	1,962,000	1,686,000	2,049,000	1,970,000	1,577,000	1,105,000	1,139,000	1,038,000	964,000	861,000	1,106,000	937,000	882,000	735,000	751,000	20,667,000	970,000
total operating expenses	13,552,000	11,860,000	45,392,000	24,586,000	29,487,000	30,623,000	61,402,000	19,934,000	22,789,000	27,879,000	28,777,000	26,512,000	20,937,000	21,345,000	19,917,000	17,821,000	14,444,000	9,753,000	5,138,000	3,533,000	2,624,000	1,437,000	1,163,000	1,222,000	1,576,000	779,000	1,153,000	1,451,000	750,000	1,284,000	2,461,000	2,167,000	2,423,000	2,596,000	4,166,000	2,764,000	2,543,000	3,541,000	3,044,000	5,829,000	4,534,000	3,686,000	3,387,000	2,595,000	2,167,000	3,545,000	3,257,000	3,464,000	2,341,000	2,734,000	2,278,000	2,401,000	4,308,000	4,380,000	2,977,000	3,121,000	3,331,000	3,772,000	4,180,000	3,715,000	17,520,000	4,467,000	3,911,000	4,613,000	5,395,000	6,051,000	6,504,000	9,367,000	11,117,000	16,480,000	13,111,000	14,303,000	15,693,000	15,279,000	13,146,000	11,698,000	15,252,000	12,157,000	12,237,000	14,824,000	8,732,000	9,249,000	10,657,000	9,160,000	9,833,000	9,408,000	9,287,000	10,433,000	6,934,000	6,093,000	4,466,000			5,328,173	3,289,202	3,980,624
operating income	-13,552,000	-11,860,000	-45,392,000	-24,586,000	-29,487,000	-30,623,000	-61,402,000	-19,934,000	-22,789,000	-27,879,000	-28,777,000	-26,512,000	-20,937,000	-21,345,000	-19,917,000	-17,821,000	-14,444,000	-9,753,000	-5,138,000	-3,533,000	-2,624,000	-1,437,000	-1,163,000	-1,222,000	-1,576,000	-779,000	-1,153,000	-1,451,000	-750,000	-1,284,000	-2,461,000	-2,167,000	-2,423,000	-2,596,000	-4,166,000	-2,764,000	-2,543,000	-3,541,000	-3,044,000	-5,829,000	-4,534,000	-3,686,000	-3,387,000	-2,595,000	-2,167,000	-3,545,000	-3,257,000	-3,464,000	32,903,000	-776,000	-319,000	-443,000	-1,840,000	-1,655,000	-253,000	-148,000	-584,000	-1,023,000	-1,428,000	-479,000	-9,511,000	-1,572,000	-1,255,000	-1,364,000	-1,666,000	-2,288,000	-268,000	-2,532,000	-2,873,000	13,814,000	-2,564,000	336,000	-1,637,000	531,000	919,000	10,356,000	-8,916,000	6,353,000	1,509,000	502,000	-3,652,000	-9,249,000	-10,657,000	-9,160,000	-9,833,000	-9,408,000	-9,287,000	-10,433,000	-6,934,000	-6,093,000	-4,466,000			-5,328,173	-3,289,202	-3,980,624
yoy	-54.04%	-61.27%	-26.07%	23.34%	29.39%	9.84%	113.37%	-24.81%	8.85%	30.61%	44.48%	48.77%	44.95%	118.86%	287.64%	404.42%	450.46%	578.71%	341.79%	189.12%	66.50%	84.47%	0.87%	-15.78%	110.13%	-39.33%	-53.15%	-33.04%	-69.05%	-50.54%	-40.93%	-21.60%	-4.72%	-26.69%	36.86%	-52.58%	-43.91%	-3.93%	-10.13%	124.62%	109.23%	3.98%	3.99%	-25.09%	-106.59%	356.83%	921.00%	681.94%	-1888.21%	-53.11%	26.09%	199.32%	215.07%	61.78%	-82.28%	-69.10%	-93.86%	-34.92%	13.78%	-64.88%	470.89%	-31.29%	368.28%	-46.13%	-42.01%	-116.56%	-89.55%	-853.57%	75.50%	2501.51%	-379.00%	-96.76%	-81.64%	-91.64%	-39.10%	1962.95%	144.14%	-168.69%	-114.16%	-105.48%	-62.86%	-1.69%	14.75%	-12.20%	41.81%	54.41%	107.95%			14.35%	35.78%
qoq	14.27%	-73.87%	84.63%	-16.62%	-3.71%	-50.13%	208.03%	-12.53%	-18.26%	-3.12%	8.54%	26.63%	-1.91%	7.17%	11.76%	23.38%	48.10%	89.82%	45.43%	34.64%	82.60%	23.56%	-4.83%	-22.46%	102.31%	-32.44%	-20.54%	93.47%	-41.59%	-47.83%	13.57%	-10.57%	-6.66%	-37.69%	50.72%	8.69%	-28.18%	16.33%	-47.78%	28.56%	23.01%	8.83%	30.52%	19.75%	-38.87%	8.84%	-5.98%	-110.53%	-4340.08%	143.26%	-27.99%	-75.92%	11.18%	554.15%	70.95%	-74.66%	-42.91%	-28.36%	198.12%	-94.96%	505.03%	25.26%	-7.99%	-18.13%	-27.19%	753.73%	-89.42%	-11.87%	-120.80%	-638.77%	-863.10%	-120.53%	-408.29%	-42.22%	-91.13%	-216.15%	-240.34%	321.01%	200.60%	-113.75%	-60.51%	-13.21%	16.34%	-6.84%	4.52%	1.30%	-10.98%	50.46%	13.80%	36.43%				61.99%	-17.37%
operating margin %	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	93.36%	-39.63%	-16.28%	-22.63%	-74.55%	-60.73%	-9.29%	-4.98%	-21.26%	-37.21%	-51.89%	-14.80%	-118.75%	-54.30%	-47.25%	-41.98%	-44.68%	-60.80%	-4.30%	-37.04%	-34.85%	45.60%	-24.31%	2.30%	-11.65%	3.36%	6.53%	46.96%	-140.72%	34.32%	10.98%	3.28%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	-Infinity%	-Infinity%	-Infinity%
interest income	974,000	1,167,000	1,214,000	1,265,000	1,800,000	2,618,000	2,316,000	1,776,000	1,579,000	2,005,000	2,198,000	2,051,000	1,554,000	878,000	314,000	31,000	14,000	15,000	13,000	7,000	6,000	7,000	27,000	72,000	60,000	82,000	94,000	92,000	73,000	17,000	9,000	7,000	5,000	6,000	6,000	21,000	21,000	23,000	29,000	34,000	17,000	15,000	13,000	12,000	11,000	11,000	11,000	14,000	16,750	14,000	18,000	35,000	101,250	105,000	123,000	178,000	177,000	208,000	228,000	272,000	335,000	544,000	451,000	344,000	308,250	613,000	233,000	387,000	1,287,750	1,377,000	1,539,000	2,234,000													167,000	177,000	221,000	270,000	249,000	124,000	120,000	7,134,000	141,000	193,226	239,341	266,310
other income	39,000	-114,000	-46,000	-82,000	90,000	62,000	99,000	160,000	291,000	223,000	203,000	190,000	249,000	210,000	275,000	263,000	258,000	176,000
gain from change in fair value of warrant liabilities							65,142,000	43,041,000
net income	-12,539,000	-10,807,000	-44,224,000	-23,403,000	-27,597,000	-27,943,000	6,155,000	25,043,000	-20,919,000	-25,651,000	-26,376,000	-24,271,000	-19,134,000	-20,257,000	-19,328,000	-17,527,000	-14,172,000	-9,562,000	-5,125,000	-3,526,000	-2,618,000	-1,430,000	-1,136,000	-1,150,000	-1,516,000	-697,000	-1,059,000	-1,359,000	-677,000	-1,267,000	-2,452,000	-2,160,000	-2,418,000	-2,590,000	-4,160,000	-2,743,000	-2,522,000	-3,518,000	-3,015,000	-5,795,000	-4,517,000	-3,671,000	-3,374,000	-2,583,000	-2,156,000	-3,534,000	-3,246,000	-3,450,000	33,015,000	-762,000	-301,000	-408,000	-1,794,000	-1,550,000	-130,000	30,000	-391,000	-815,000	-1,200,000	-207,000	-9,171,000	-1,028,000	-804,000	-1,020,000	-297,000	-1,312,000	-34,000	-1,824,000	-1,389,000	15,191,000	-1,025,000	2,570,000	1,131,000	3,173,000	3,365,000	12,636,000	-5,711,000	9,656,000	1,367,000	877,000	-3,133,000	-8,767,000	-10,182,000	-8,589,000	-9,316,000	-9,231,000	-9,066,000	-10,163,000	-6,685,000	-5,969,000	-4,346,000			-5,134,347	-3,050,061	-3,714,514
yoy	-54.56%	-61.32%	-818.51%	-193.45%	31.92%	8.94%	-123.34%	-203.18%	9.33%	26.63%	36.47%	38.48%	35.01%	111.85%	277.13%	397.08%	441.33%	568.67%	351.14%	206.61%	72.69%	105.16%	7.27%	-15.38%	123.93%	-44.99%	-56.81%	-37.08%	-72.00%	-51.08%	-41.06%	-21.25%	-4.12%	-26.38%	37.98%	-52.67%	-44.17%	-4.17%	-10.64%	124.35%	109.51%	3.88%	3.94%	-25.13%	-106.53%	363.78%	978.41%	745.59%	-1940.30%	-50.84%	131.54%	-1460.00%	358.82%	90.18%	-89.17%	-114.49%	-95.74%	-20.72%	49.25%	-79.71%	2987.88%	-21.65%	2264.71%	-44.08%	-78.62%	-108.64%	-96.68%	-170.97%	-222.81%	378.76%	-130.46%	-79.66%	-119.80%	-67.14%	146.16%	1340.82%	82.29%	-210.14%	-113.43%	-110.21%	-66.37%	-5.03%	12.31%	-15.49%	39.36%	54.65%	108.61%			16.26%	42.49%
qoq	16.03%	-75.56%	88.97%	-15.20%	-1.24%	-553.99%	-75.42%	-219.71%	-18.45%	-2.75%	8.67%	26.85%	-5.54%	4.81%	10.28%	23.67%	48.21%	86.58%	45.35%	34.68%	83.08%	25.88%	-1.22%	-24.14%	117.50%	-34.18%	-22.08%	100.74%	-46.57%	-48.33%	13.52%	-10.67%	-6.64%	-37.74%	51.66%	8.76%	-28.31%	16.68%	-47.97%	28.29%	23.05%	8.80%	30.62%	19.81%	-38.99%	8.87%	-5.91%	-110.45%	-4432.68%	153.16%	-26.23%	-77.26%	15.74%	1092.31%	-533.33%	-107.67%	-52.02%	-32.08%	479.71%	-97.74%	792.12%	27.86%	-21.18%	243.43%	-77.36%	3758.82%	-98.14%	31.32%	-109.14%	-1582.05%	-139.88%	127.23%	-64.36%	-5.71%	-73.37%	-321.26%	-159.14%	606.36%	55.87%	-127.99%	-64.26%	-13.90%	18.55%	-7.80%	0.92%	1.82%	-10.79%	52.03%	12.00%	37.34%				68.34%	-17.89%
net income margin %	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	93.68%	-38.92%	-15.36%	-20.84%	-72.69%	-56.88%	-4.77%	1.01%	-14.23%	-29.65%	-43.60%	-6.40%	-114.51%	-35.51%	-30.27%	-31.39%	-7.96%	-34.87%	-0.55%	-26.69%	-16.85%	50.15%	-9.72%	17.56%	8.05%	20.07%	23.92%	57.30%	-90.14%	52.17%	9.94%	5.72%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	-Infinity%	-Infinity%	-Infinity%
shares used in computing net income per share, basic	12,073.25	48,308	48,308	48,262	11,433.5	47,976	46,202	43,001
net income per share	-0.26	-0.22	-0.92	-0.48	-0.6	-0.58	0.13	0.58	-0.5	-0.61	-0.63	-0.58	-0.47	-0.51	-0.48	-0.44	-0.36	-0.24	-0.13	-0.09	-0.09	-0.06	-0.05	-0.05	-0.09	-0.04	-0.06	-0.08	0.08	-0.11	-0.36	-0.33	-0.37	-0.4	-0.64	-0.06	-0.06	-0.08	-0.07	-0.13	-0.053	-0.08	-0.07	-0.06	-0.058	-0.08	-0.07	-0.08	-0.008	-0.02	-0.01	-0.01	-0.04	-0.03			-0.01	-0.02
numerator, diluted:
adjustment for change in fair value of warrant liabilities								-43,792
adjusted numerator, diluted	-12,539	-10,807	-44,224	-23,403	-27,597	-27,943	6,155	-18,749
shares used in computing net loss per share, diluted	4	48,308		48,262				44,102
shares used in computing net income per share, diluted			48,308		11,525.25	47,976	46,202
research and development, net of grant reimbursement									18,731,000	23,603,000	24,969,000	22,120,000	17,652,000	18,526,000	16,948,000	14,906,000	10,342,000	8,041,000	3,901,000	2,529,000	1,519,000	399,000	591,000	544,000	738,000	-52,000	308,000	574,000
shares used in computing net income per share, basic and diluted									87	42,002
shares used in computing net loss per share, basic and diluted											41,793	41,739	193	40,050	40,015	39,962	187	39,957	39,953	37,721	1,360	24,972	24,779	24,481	250	17,162	17,162	17,162	2,184	11,959	6,838	6,638		6,538	6,537	45,742	35	45,742
gain on sale of property and equipment																							-246,000	-100,000
weighted-average shares used for eps calculation																																								45,356		45,356	45,356	45,356		45,345	45,247	45,127			44,999		44,753	44,601	44,777		44,160																								43,795	43,853	43,744,000	43,664	37,267	35,594	35,499	35,426,000	29,483,000	27,999	27,334,000		27,157	27,039	27,094,395	27,036,570
basic and diluted																																							45,708																			44,631	44,190	43,124		42,703	42,663
weighted-average shares used for eps calculation																																								45,356		45,356	45,356	45,356		45,345	45,247	45,127			44,999		44,753	44,601	44,777		44,160																								43,795	43,853	43,744,000	43,664	37,267	35,594	35,499	35,426,000	29,483,000	27,999	27,334,000		27,157	27,039	27,094,395	27,036,570
revenue:
program fee revenue																																																	35,244,000	1,958,000	1,959,000	1,958,000	2,468,000	2,725,000	2,724,000	2,724,000	2,724,000	2,725,000	2,724,000	2,724,000	2,724,000	2,724,000	2,524,000	2,524,000	3,587,000	3,587,000	3,587,000	3,587,000	3,587,000	3,587,000	3,587,000	3,587,000	3,587,000	6,551,000	6,550,000	6,550,000	6,550,000	6,550,000	6,550,000	6,550,000
total revenue																																																	35,244,000	1,958,000	1,959,000	1,958,000	2,468,000	2,725,000	2,724,000	2,973,000	2,747,000	2,749,000	2,752,000	3,236,000	8,009,000	2,895,000	2,656,000	3,249,000	3,729,000	3,763,000	6,236,000	6,835,000	8,244,000	30,294,000	10,547,000	14,639,000	14,056,000	15,810,000	14,065,000	22,054,000	6,336,000	18,510,000	13,746,000	15,326,000
yoy																																														NaN%	NaN%	NaN%	1328.04%	-28.15%	-28.08%	-34.14%	-10.16%	-0.87%	-1.02%	-8.13%	-65.70%	-5.04%	3.61%	-0.40%	114.78%	-23.07%	-57.41%	-52.47%	-54.77%	-87.58%	-40.87%	-53.31%	-41.35%	91.61%	-25.01%	-33.62%	121.84%	-14.59%	2.32%	43.90%
qoq																																														NaN%	NaN%	NaN%	1700.00%	-0.05%	0.05%	-20.66%	-9.43%	0.04%	-8.38%	8.23%	-0.07%	-0.11%	-14.96%	-59.60%	176.65%	9.00%	-18.25%	-12.87%	-0.90%	-39.66%	-8.76%	-17.09%	-72.79%	187.23%	-27.95%	4.15%	-11.09%	12.41%	-36.22%	248.07%	-65.77%	34.66%	-10.31%
collaboration revenue																																																								249,000	23,000	24,000	28,000	512,000	285,000	171,000	132,000	725,000	142,000	176,000	2,649,000	3,248,000	4,657,000	6,707,000	6,960,000	11,052,000	10,469,000	9,259,000	7,515,000	15,504,000	-214,000	6,960,000	7,196,000	8,776,000
revenue
operating expenses
weighted-average shares used for eps calculation																																								45,356		45,356	45,356	45,356		45,345	45,247	45,127			44,999		44,753	44,601	44,777		44,160																								43,795	43,853	43,744,000	43,664	37,267	35,594	35,499	35,426,000	29,483,000	27,999	27,334,000		27,157	27,039	27,094,395	27,036,570
basic																																									45,756				45,269				45,007			44,932				44,732					42,644			42,410	42,165	42,201	42,137	42,090	42,252	41,535	41,579	43,848	44,150	44,049	44,025	44,341	44,146	44,184	44,138	43,995
diluted																																									45,756				45,269				45,208			44,932				44,756					42,644			42,410	42,165	42,201	42,137	42,090	43,857	43,021	41,579	45,388	45,676	45,655	45,180	45,591	45,475	45,221	45,258	45,505
net income per share	-0.26	-0.22	-0.92	-0.48	-0.6	-0.58	0.13	0.58	-0.5	-0.61	-0.63	-0.58	-0.47	-0.51	-0.48	-0.44	-0.36	-0.24	-0.13	-0.09	-0.09	-0.06	-0.05	-0.05	-0.09	-0.04	-0.06	-0.08	0.08	-0.11	-0.36	-0.33	-0.37	-0.4	-0.64	-0.06	-0.06	-0.08	-0.07	-0.13	-0.053	-0.08	-0.07	-0.06	-0.058	-0.08	-0.07	-0.08	-0.008	-0.02	-0.01	-0.01	-0.04	-0.03			-0.01	-0.02
basic and diluted																																																											-0.03		-0.018	-0.02	-0.02
loss before benefit from income taxes																																																													-713,000	-1,028,000	-804,000	-1,020,000
benefit from income taxes																																																																	-825,000	-363,000	-1,000	-321,000
net income per share	-0.26	-0.22	-0.92	-0.48	-0.6	-0.58	0.13	0.58	-0.5	-0.61	-0.63	-0.58	-0.47	-0.51	-0.48	-0.44	-0.36	-0.24	-0.13	-0.09	-0.09	-0.06	-0.05	-0.05	-0.09	-0.04	-0.06	-0.08	0.08	-0.11	-0.36	-0.33	-0.37	-0.4	-0.64	-0.06	-0.06	-0.08	-0.07	-0.13	-0.053	-0.08	-0.07	-0.06	-0.058	-0.08	-0.07	-0.08	-0.008	-0.02	-0.01	-0.01	-0.04	-0.03			-0.01	-0.02
basic																																																																-0.02		-0.03		-0.04	-0.04	0.37	-0.02	0.06	0.03	0.07
diluted																																																																-0.02		-0.03		-0.04	-0.03	0.35	-0.02	0.06	0.02	0.07
milestone revenue																																																																						20,000,000								5,000,000
income before benefit from income taxes																																																																	-963,750	-1,675,000	-35,000	-2,145,000
interest and other income																																																																									2,768,000	2,642,000	2,446,000	2,280,000	2,553,000	2,559,000	2,468,000	2,088,000	519,000	482,000	475,000	571,000
income before provision for income taxes																																																																									1,131,000	3,173,000	3,365,000	12,636,000			3,977,000	2,590,000
provision for income taxes																																																																															2,610,000	1,713,000
earnings per share
basic																																																																											0.08	0.28	-0.13	0.22	0.03	0.02
diluted																																																																											0.07	0.28	-0.12	0.21	0.03	0.02
income before provision (credit) for income taxes																																																																													3,869,500	8,912,000
provision (credit) for income taxes																																																																													894,750	-744,000
other income:
return to series c preferred stockholders for beneficial conversion feature																																																																																												-14,231,000
loss available to common stockholders																																																																																	-6,884,250	-8,767,000	-10,182,000	-8,589,000	-9,316,000	-9,231,000	-9,066,000	-10,163,000	-6,685,000	-5,969,000	-4,346,000	-71,479,000	-4,617,000
basic and diluted loss per share																																																																																	-0.07	-0.2		-0.2	-0.21	-0.26	-0.26		-0.135	-0.21			-0.17
basic and diluted loss per common share																																																																																			-230					-290			-160
operating expenses :
return to series c preferred stockholder for beneficial conversion feature
licensing fees
research and development:
total research and development expense																																																																																														1,904,887.5	2,130,144	2,673,994
general and administrative:
total general and administrative expense																																																																																														992,819.25	1,159,058	1,306,630
net loss before income taxes																																																																																														-2,697,513.25	-3,049,861	-3,714,314
income tax expense																																																																																														150	200	200
return to series c preferred shareholders for beneficial conversion feature
net loss available to common shareholders																																																																																														-2,697,663.25	-3,050,061	-3,714,514
basic and diluted net loss per share																																																																																														-0.1	-0.11	-0.14

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	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	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30

assets
current assets:
cash and cash equivalents	86,573,000	95,502,000	106,080,000	112,381,000	117,328,000	128,574,000	148,978,000	207,291,000	124,169,000	121,136,000	142,350,000	201,015,000	174,662,000	197,232,000	209,693,000	233,437,000	241,524,000	278,254,000	282,192,000	93,506,000	24,074,000	25,254,000	25,600,000	23,081,000	17,804,000	18,534,000	19,125,000	19,807,000	20,444,000	9,608,000	10,734,000	10,479,000	11,916,000	14,067,000	17,264,000	16,615,000	21,214,000	24,626,000	26,614,000	31,299,000	33,993,000	36,352,000	37,249,000	40,590,000	42,052,000	44,575,000	45,852,000	48,588,000	49,727,000	51,545,000	51,591,000	49,355,000	88,240,000	79,020,000	73,779,000	73,144,000	71,709,000	62,830,000	54,894,000	4,798,000	106,292,000	66,773,000	50,657,000	35,794,000	29,169,000	145,200,000	172,790,000	153,158,000	143,950,000	125,425,000	130,807,000	86,567,000	40,814,000	49,191,000	61,816,000	16,386,000	31,558,000	51,109,000	67,825,000	95,651,000	1,421,000	2,512,000	107,000	1,379,000	1,750,000	3,172,000	7,181,000	12,027,000	46,900,000	42,546,000	45,664,000	50,091,000	53,892,508	57,805,993
prepaid expenses and other current assets	1,391,000	2,207,000	2,830,000	2,440,000	2,823,000	7,958,000	13,571,000	14,831,000	9,830,000	8,497,000	7,834,000	10,211,000	8,610,000	6,969,000	12,507,000	11,045,000	10,391,000	1,304,000
total current assets	87,964,000	97,709,000	108,910,000	114,821,000	120,151,000	136,532,000	202,549,000	222,122,000	133,999,000	129,633,000	150,184,000	211,226,000	183,272,000	204,201,000	222,200,000	244,482,000	251,915,000	279,558,000	283,766,000	93,994,000	25,071,000	25,440,000	25,877,000	23,349,000	18,189,000	18,583,000	19,265,000	20,040,000	20,720,000	9,699,000	10,889,000	10,663,000	12,204,000	14,079,000	17,390,000	19,070,000	22,220,000	24,741,000	28,413,000	31,691,000	35,413,000	37,502,000	39,367,000	40,829,000	43,510,000	45,307,000	47,243,000	50,103,000	51,416,000	52,848,000	54,518,000	56,507,000	92,907,000	94,037,000	96,371,000	98,489,000	100,084,000	101,964,000	100,557,000	98,484,000	180,028,000	181,260,000	177,714,000	178,471,000	180,981,000	184,255,000	187,605,000	190,636,000	193,598,000	177,105,000	190,363,000	205,374,000	206,407,000	206,659,000	210,254,000	207,114,000	216,859,000	211,693,000	214,147,000	214,164,000	72,087,000	81,685,000	91,293,000	99,656,000	53,974,000	61,038,000	70,540,000	78,750,000	84,816,000	42,625,000
property and equipment	20,403,000	20,646,000	20,823,000	20,563,000	20,781,000	20,964,000	21,135,000	21,364,000	21,604,000	21,854,000	22,077,000	22,864,000	23,130,000	22,155,000	20,863,000	20,616,000	20,695,000	75,000	10,000	11,000	12,000	13,000	33,000	47,000	61,000	75,000	88,000	87,000	104,000	122,000	139,000	156,000	173,000	190,000	214,000	232,000	250,000	187,000	201,000	215,000	228,000	242,000	256,000	65,000	69,000	72,000	76,000							52,000	87,000	122,000	157,000	192,000	232,000	285,000	340,000	398,000	457,000	517,000	578,000	641,000	708,000	774,000	1,256,000	1,373,000	1,490,000	1,607,000	1,549,000	1,206,000	1,223,000	1,267,000	1,352,000	1,475,000	1,556,000	1,556,000	1,612,000	1,430,000	1,404,000	1,461,000	1,753,000	1,791,000	1,810,000	1,688,000	1,747,000	1,831,000	1,917,000	2,003,000	2,086,360	2,175,800
total assets	108,367,000	118,355,000	129,733,000	135,384,000	140,932,000	157,533,000	223,753,000	243,568,000	155,718,000	151,663,000	172,529,000	234,834,000	207,286,000	227,381,000	244,191,000	266,782,000	274,249,000	281,305,000	284,050,000	94,300,000	25,399,000	25,498,000	25,977,000	23,486,000	18,375,000	18,805,000	19,523,000	20,139,000	20,836,000	9,833,000	11,058,000	10,831,000	12,377,000	14,269,000	17,604,000	19,302,000	22,482,000	24,940,000	28,626,000	31,918,000	35,653,000	37,756,000	39,635,000	40,906,000	43,591,000	45,391,000	47,319,000	50,103,000	51,756,000	53,200,000	54,870,000	56,859,000	93,259,000	94,440,000	96,810,000	98,963,000	100,592,000	102,593,000	101,226,000	99,195,000	180,794,000	182,084,000	178,597,000	182,005,000	182,732,000	186,316,000	189,733,000	193,436,000	195,497,000	179,122,000	192,497,000	207,625,000	208,810,000	208,633,000	212,245,000	208,456,000	218,286,000	213,243,000	215,778,000	215,795,000	73,774,000	83,190,000	92,772,000	101,192,000	55,802,000	62,904,000	72,425,000	80,513,000	86,638,000	44,531,000
liabilities and stockholders' equity
current liabilities:
accounts payable and accrued expenses	39,189,000		46,092,000	42,822,000	8,192,000		52,244,000	52,552,000	9,603,000		9,492,000
accrued development expense	605,000	364,000	1,366,000	3,788,000	4,077,000	2,440,000	2,543,000	1,596,000	1,797,000	3,037,000	7,344,000	2,280,000	4,096,000	3,318,000	2,925,000	2,803,000	3,251,000	2,462,000	1,553,000	719,000	558,000	755,000	387,000	777,000	415,000	179,000	243,000	156,000			18,000	399,000		32,000	8,000	27,000	744,000	641,000	818,000	894,000	642,000	448,000	207,000	25,000	337,000	332,000	301,000	641,000	742,000	572,000	382,000	929,000	793,000	605,000	419,000	914,000	754,000	576,000	435,000	258,000	646,000	1,108,000	768,000	1,221,000	1,114,000	491,000	902,000	1,029,000	862,000	822,000	973,000	817,000	3,916,000	4,014,000	4,062,000	5,777,000	5,774,000	5,641,000	6,318,000	4,461,000	6,539,000	6,919,000	6,521,000	6,358,000	5,780,000	3,566,000
accrued compensation and benefits	246,000	1,625,000	362,000	563,000	855,000	1,357,000	1,950,000	218,000	228,000	200,000	187,000	170,000	160,000	176,000	172,000	1,877,000	126,000	120,000	99,000	83,000	80,000	84,000	72,000	58,000	55,000	60,000	62,000	61,000	305,000	313,000	309,000	309,000	298,000	309,000	302,000	335,000	340,000	934,000	1,483,000	623,000	1,046,000	900,000	738,000	652,000	1,224,000	1,047,000	879,000	712,000	550,000	379,000	1,114,000	853,000	1,579,000	377,000	1,086,000	915,000	785,000	632,000	1,500,000	1,712,000	2,329,000	1,004,000	1,043,000	1,138,000	1,086,000	1,608,000	2,180,000										409,000	325,000	775,000	501,000	416,000	188,000	639,000	415,000	375,000	643,000	580,000	369,000	359,000	541,000	389,000	273,000	245,766	455,994
other current liabilities	75,000	198,000	226,000	159,000	113,000	299,000	297,000	228,000	125,000	385,000	391,000	492,000	416,000	370,000	261,000	631,000	509,000	50,000	50,000	94,000	7,000	14,000	11,000	9,000	7,000	14,000	12,000		8,000	12,000	10,000																10,000	3,000
total current liabilities	40,115,000	43,834,000	48,046,000	47,332,000	13,237,000	11,750,000	57,034,000	54,594,000	77,121,000	14,195,000	17,414,000	7,063,000	8,308,000	8,722,000	6,789,000	12,534,000	6,326,000	4,637,000	2,650,000	1,865,000	1,168,000	1,314,000	1,145,000	1,387,000	907,000	937,000	902,000	511,000	862,000	1,287,000	758,000	1,132,000	1,010,000	999,000	883,000	665,000	2,167,000	1,953,000	3,344,000	2,551,000	2,586,000	1,813,000	1,200,000	850,000	2,383,000	1,739,000	1,618,000	1,801,000	9,655,000	9,218,000	9,694,000	9,999,000	13,800,000	12,421,000	12,938,000	13,272,000	13,085,000	12,818,000	13,361,000	14,071,000	14,689,000	13,760,000	12,692,000	18,511,000	18,110,000	18,069,000	19,577,000	20,114,000	20,683,000	19,854,000	20,706,000	20,657,000	34,762,000	33,575,000	33,023,000	36,654,000	36,512,000	37,203,000	35,960,000	32,347,000				7,796,000						2,395,000
other non-current liabilities	111,000	118,000	119,000	79,000	79,000	79,000	80,000					197,000	197,000	201,000	194,000	194,000	194,000
total liabilities	40,226,000	43,952,000	48,165,000	47,411,000	13,316,000	11,829,000	57,114,000			14,195,000	17,414,000	7,295,000	8,567,000	9,011,000	7,097,000	12,867,000	6,684,000	4,825,000	2,863,000	2,100,000	1,426,000	1,314,000	1,145,000	1,387,000	930,000	982,000	970,000	511,000	862,000	1,287,000	758,000	1,132,000	1,010,000	999,000	883,000	665,000	2,167,000	1,953,000	3,344,000	2,551,000	2,586,000	1,813,000	1,200,000	850,000	2,383,000	1,739,000	1,618,000	1,801,000	37,504,000	39,025,000	41,460,000	43,723,000	46,927,000	48,271,000	51,512,000	54,570,000	57,106,000	59,562,000	62,829,000	66,262,000	69,603,000	71,398,000	68,647,000	73,753,000	76,671,000	80,463,000	85,557,000	89,150,000	92,983,000	95,735,000	100,174,000	103,711,000	109,762,000	115,122,000	121,120,000	130,541,000	136,950,000	144,191,000	149,498,000	152,435,000	7,635,000	8,253,000	8,221,000		7,127,000	5,161,000	5,820,000	3,951,000	4,018,000
commitments and contingencies
stockholders' equity:
preferred stock, 0.001 par value...
common stock, 0.001 par value...	48,000	48,000	48,000	48,000	48,000	48,000	48,000	48,000	43,000	42,000	42,000	42,000	40,000	40,000	40,000	40,000	40,000	40,000
additional paid-in capital	574,508,000	570,439,000	565,065,000	560,663,000	556,082,000	550,767,000	544,105,000	538,497,000	434,280,000	518,195,000	514,923,000	511,049,000	463,097,000	462,491,000	461,887,000	461,181,000	460,659,000	460,012,000	459,594,000	267,086,000	196,250,000	195,032,000	194,544,000	190,664,000	184,499,000	184,180,000	183,851,000	183,567,000	183,236,000	170,551,000	169,852,000	167,091,000	166,342,000	165,654,000	164,906,000	164,079,000	163,234,000	162,389,000	161,669,000	159,959,000	159,141,000	158,346,000	157,464,000	156,502,000
accumulated deficit	-506,415,000	-496,084,000	-483,545,000	-472,738,000	-428,514,000	-405,111,000	-377,514,000	-349,571,000	-355,726,000	-380,769,000	-359,850,000	-283,552,000	-264,418,000	-244,161,000	-224,833,000	-207,306,000	-193,134,000	-183,572,000	-178,447,000	-174,921,000	-172,303,000	-170,873,000	-169,737,000	-168,587,000	-167,071,000	-166,374,000	-165,315,000	-163,956,000	-163,279,000	-162,012,000	-159,559,000	-157,399,000	-154,982,000	-152,391,000	-148,231,000	-145,488,000	-142,966,000	-139,448,000	-136,433,000	-130,638,000	-126,121,000	-122,450,000	-119,076,000	-116,493,000	-114,337,000	-110,802,000	-107,557,000	-104,107,000	-137,122,000	-136,360,000	-136,059,000	-135,651,000	-133,857,000	-132,306,000	-132,175,000	-132,205,000	-131,814,000	-130,999,000	-129,799,000	-129,592,000	-120,421,000	-119,393,000	-118,589,000	-117,569,000	-117,272,000	-115,960,000	-115,926,000	-114,102,000	-112,714,000	-127,904,000	-122,862,000	-118,129,000	-119,260,000	-122,433,000	-124,617,000	-136,506,000	-130,795,000	-140,450,000	-141,817,000	-142,694,000
total stockholders' equity	68,141,000	74,403,000	81,568,000	87,973,000	127,616,000	145,704,000	166,639,000	188,974,000	78,597,000	137,468,000	155,115,000								281,187,000	92,200,000	23,973,000	24,184,000	24,832,000	22,099,000	17,445,000	17,823,000	18,553,000	19,628,000	19,974,000	8,546,000	10,300,000	9,699,000	11,367,000	13,270,000	16,721,000	18,637,000	20,315,000	22,987,000	25,282,000	29,367,000	33,067,000	35,943,000	38,435,000	40,056,000	41,208,000	43,652,000	45,701,000	48,302,000	14,252,000																										91,125,000
total liabilities and stockholders' equity	108,367,000	118,355,000	129,733,000	135,384,000	140,932,000	157,533,000	223,753,000	243,568,000	155,718,000	151,663,000	172,529,000								284,050,000	94,300,000	25,399,000	25,498,000	25,977,000	23,486,000	18,375,000	18,805,000	19,523,000	20,139,000	20,836,000	9,833,000	11,058,000	10,831,000	12,377,000	14,269,000	17,604,000	19,302,000	22,482,000	24,940,000	28,626,000	31,918,000	35,653,000	37,756,000	39,635,000	40,906,000	43,591,000	45,391,000	47,319,000	50,103,000	51,756,000																										212,245,000
accounts payable and other accrued expenses		41,647,000				7,654,000				10,573,000
intangible assets						37,000	69,000	82,000	115,000	176,000	268,000	622,000	740,000	859,000	940,000	1,075,000	1,209,000
restricted cash							40,000,000
warrant liabilities									65,368,000
operating lease right-of-use assets												122,000	144,000	166,000	188,000	210,000	231,000	252,000	274,000	295,000	316,000	45,000	67,000	90,000	113,000	135,000	158,000
operating lease liabilities, current												104,000	102,000	100,000	99,000	97,000	95,000	93,000	84,000	58,000	58,000	45,000	67,000	90,000	90,000	90,000	90,000
operating lease liabilities, non-current												35,000	62,000	88,000	114,000	139,000	164,000	188,000	213,000	235,000	258,000				23,000	45,000	68,000
other assets																399,000	199,000	1,420,000							12,000	12,000	12,000	12,000	12,000	12,000	30,000	12,000					12,000	12,000	12,000	12,000	12,000	12,000	12,000	12,000	12,000	12,000			340,000	352,000	352,000	352,000	352,000	351,000	352,000	352,000	351,000	437,000	437,000	426,000	426,000	426,000	426,000	3,017,000	1,173,000	1,420,000	1,420,000	2,026,000	643,000	644,000	644,000	644,000	854,000	768,000	768,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000
liabilities and stockholders’ equity
accounts payable												4,017,000	3,534,000	4,758,000	3,332,000	7,126,000	2,345,000	1,912,000	864,000	911,000	465,000	416,000	608,000	453,000	340,000	594,000	495,000	294,000	549,000	962,000	421,000	424,000	712,000	658,000	573,000	303,000	1,083,000	378,000	1,043,000	1,034,000	898,000	465,000	255,000	173,000	822,000	360,000	428,000	445,000	531,000	435,000	366,000	361,000	507,000	501,000	502,000	464,000	556,000	604,000	436,000	1,107,000	715,000	625,000	485,000	1,317,000	1,005,000	975,000	1,685,000	2,216,000	3,485,000	3,206,000	2,962,000	3,624,000	3,008,000	2,220,000	840,000	985,000	438,000	596,000	820,000	998,000	564,000	1,006,000	904,000	877,000	831,000	817,000	5,105,000	3,441,000	3,537,000	1,731,000	1,728,000	2,648,000	1,072,243	1,406,197
stockholders’ equity:
total stockholders’ equity												227,539,000	198,719,000	218,370,000	237,094,000	253,915,000	267,565,000	276,480,000																																14,175,000	13,410,000	13,136,000	46,332,000	46,169,000	45,298,000	44,393,000	43,486,000	43,031,000	38,397,000	32,933,000	111,191,000	110,686,000	109,950,000	108,252,000	106,061,000	105,853,000	104,176,000	104,286,000	102,514,000	83,387,000	92,323,000	103,914,000	99,048,000	93,511,000		77,915,000	81,336,000	69,052,000	66,280,000	63,360,000	66,139,000	74,937,000	84,551,000	93,396,000	48,675,000	57,743,000	66,605,000	76,562,000	82,620,000	42,136,000
total liabilities and stockholders’ equity												234,834,000	207,286,000	227,381,000	244,191,000	266,782,000	274,249,000	281,305,000																																53,200,000	54,870,000	56,859,000	93,259,000	94,440,000	96,810,000	98,963,000	100,592,000	102,593,000	101,226,000	99,195,000	180,794,000	182,084,000	178,597,000	182,005,000	182,732,000	186,316,000	189,733,000	193,436,000	195,497,000	179,122,000	192,497,000	207,625,000	208,810,000	208,633,000		208,456,000	218,286,000	213,243,000	215,778,000	215,795,000	73,774,000	83,190,000	92,772,000	101,192,000	55,802,000	62,904,000	72,425,000	80,513,000	86,638,000	44,531,000
other current assets																			1,574,000	488,000	997,000	186,000	277,000	268,000	385,000	49,000	140,000	233,000	276,000	91,000	155,000	184,000	288,000	12,000	126,000	356,000	456,000	115,000	299,000	392,000	520,000	200,000	119,000	239,000	358,000	482,000	141,000	265,000	389,000	3,000	127,000	253,000	378,000	95,000	475,000	358,000	493,000	15,000	84,000	144,000	286,000	5,018,000	2,181,000	2,712,000	3,506,000	2,038,000	2,031,000	541,000	408,000	32,000	311,000	303,000	480,000	332,000	294,000	2,714,000
preferred stock, .001 par value...
common stock, .001 par value...																			40,000	35,000	26,000	25,000	25,000	22,000	17,000	17,000	17,000	17,000	17,000	7,000	7,000																					45,000				45,000				43,000				42,000				42,000				44,000				44,000				44,000				44,000				35,000
noncurrent liabilities
marketable securities																																				2,099,000	550,000		1,500,000		900,000	950,000	1,999,000		1,100,000	250,000	1,250,000	1,250,000	1,300,000	1,300,000	2,800,000	6,899,000	4,289,000	14,922,000	22,117,000	24,987,000	27,651,000	38,211,000	43,583,000	86,428,000	73,450,000	109,469,000	124,876,000	139,965,000	148,306,000	37,017,000	12,784,000	36,937,000	49,240,000	51,648,000	59,245,000	118,504,000	165,113,000	157,136,000	148,144,000	188,014,000	182,360,000	154,232,000	141,963,000	117,001,000	70,126,000	79,138,000	91,034,000	98,018,000	51,809,000	57,820,000	63,004,000	65,402,000	36,290,000
shares issued and outstanding at december 31, 2017 and 2016, respectively																																7,000
accumulated other comprehensive income																																					1,000				1,000	1,000	1,000	1,000	1,000		1,000	1,000	1,000	1,000	1,000	4,000	2,000	43,000	96,000	128,000	121,000	394,000	468,000	525,000	693,000	473,000	664,000	347,000	-31,000	99,000	195,000	325,000	-183,000	465,000	905,000	584,000			103,000									-544,000	-122,000	-267,000	157,000	50,000	35,000
preferred stock
common stock																																	7,000	7,000	46,000		46,000	46,000	46,000		46,000	46,000	46,000		45,000	45,000	45,000		45,000	45,000	45,000		45,000	45,000	45,000		45,000	45,000	44,000		43,000	43,000	43,000		42,000	42,000	42,000		42,000	41,000	42,000		44,000	44,000	44,000		44,000	44,000	44,000		44,000	44,000	44,000		36,000	36,000	35,000		35,000	27,000	27,000		27,183	27,202
shares issued and outstanding at december 31, 2016 and 2015, respectively																																				46,000
issued and outstanding at december 31, 2015 and 2014																																								46,000
45,510,038 shares issued and outstanding at december 31, 2014 and 2013, respectively																																												46,000
additional paid-in-capital																																													155,499,000	154,409,000	153,212,000	152,363,000	151,328,000	150,489,000	149,423,000	148,738,000	180,142,000	178,387,000	177,332,000	176,425,000	175,134,000	173,591,000	167,684,000	161,957,000	230,876,000	229,563,000	227,832,000	225,432,000	223,322,000	221,672,000	219,865,000	218,021,000	215,369,000	210,785,000	214,238,000	221,415,000	217,910,000	216,077,000	215,595,000	214,749,000	212,378,000	210,588,000	208,868,000	206,489,000	206,168,000	206,160,000	205,943,000	205,920,000	151,469,000	151,452,000	150,824,000	150,732,000	150,149,000	103,770,000	103,248,000	103,254,000	104,088,441	104,334,258
deferred program fee revenue - current portion																																																	7,832,000				10,897,000	10,897,000	10,897,000		10,897,000	10,897,000	10,897,000			10,897,000	10,097,000		14,348,000	14,348,000	14,348,000		14,348,000	14,348,000	14,348,000						26,200,000	26,200,000	26,200,000
non-current liabilities:
deferred program fee revenue - non-current portion																																																	27,412,000				32,690,000	35,415,000	38,139,000		43,587,000	46,312,000	49,036,000			57,208,000			57,393,000	60,980,000	64,567,000		71,740,000	75,328,000	78,915,000
deferred tax liabilities																																																	437,000	437,000	437,000	437,000	437,000	435,000	435,000	435,000				431,000				1,437,000				882,000
45,326,940 shares issued and outstanding at december 31, 2013 and 2012, respectively																																																45,000
current assets
current liabilities
deferred program fee revenue—current portion																																																		7,832,000	7,832,000	7,832,000				10,897,000				10,897,000				14,348,000				14,348,000				14,348,000	26,200,000	26,200,000	26,200,000	26,200,000				26,200,000
non-current liabilities
deferred program fee revenue—non-current portion																																																		29,370,000	31,329,000	33,287,000				40,863,000				51,760,000				53,805,000				68,154,000				82,501,000	74,237,000	80,787,000	87,337,000
stockholders’ equity
other accrued liabilities																																																				24,000	24,000	41,000	34,000	82,000	93,000	109,000	93,000	97,000	102,000	126,000	299,000	487,000	557,000	647,000	462,000	2,521,000	1,988,000	1,478,000	2,423,000	1,868,000	1,638,000	1,141,000	1,921,000	913,000	112,000	84,000	1,847,000	187,000	116,000	140,000	157,000	146,000	141,000	135,000	135,000	141,000	122,000	123,000	202,000	180,000	141,940	140,895
receivables																																																									231,000	908,000	1,996,000	7,114,000
non-current assets
other liabilities																																																									434,000	432,000	432,000		430,000	430,000	423,000		1,168,000	1,414,000	1,413,000		560,000	553,000	553,000	553,000	763,000	760,000	760,000
deferred program fee revenue – current portion																																																													10,897,000
deferred program fee revenue – non-current portion																																																													54,484,000
deferred program fee revenue-non-current portion																																																															55,532,000
income taxes payable																																																																												2,779,000	3,579,000
collaboration revenue receivable																																																																													2,596,000	6,305,000	4,234,000	889,000
accumulative other comprehensive income																																																																									354,000
accumulated other comprehensive loss																																																																										-177,000		-372,000	-291,000	-1,130,000	-815,000	-479,000	-512,000	-472,000	-823,000
stockholders' equity
deferred program fee revenue—noncurrent portion																																																																												93,887,000				120,088,000
prepaid expenses																																																																													345,000	47,000	125,000	623,000	540,000	35,000	152,000	259,000	415,000	46,000	355,000	1,321,000		41,000	326,000	1,101,000	563,181	499,906
deferred program fee revenue - noncurrent portion																																																																													100,438,000	106,988,000	113,538,000
accrued income tax																																																																														4,357,000
preferred stock; .001 par value...
deficit accumulated during the development stage																																																																																	-139,561,000	-130,795,000	-120,613,000	-112,024,000	-102,708,000	-93,478,000	-84,411,000	-74,248,000	-67,563,000	-61,593,000	-57,248,000	-52,631,000	-47,496,385	-44,446,324
deferred compensation																																																																																								-7,000	-26,000	-58,000	-195,000	-304,000	-1,266,928	-1,117,859
notes receivable from stockholders																																																																																									-10,000	-10,000	-123,000	-122,000	-120,964	-160,798
prepaid and other expenses																																																																																									1,626,000
interest receivable																																																																																										38,000	46,000	55,000	74,247	82,866

Cashflow Statements:

Quarterly

Annual

Unit: USD	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	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-05-04	2003-03-31	2002-12-31	2002-09-30

cash flows from operating activities:
net loss									-20,919,000	-25,651,000	-26,376,000	-24,271,000	-19,134,000	-20,257,000	-19,328,000	-17,527,000	-14,172,000	-9,562,000	-5,125,000	-3,526,000	-2,618,000	-1,430,000	-1,136,000	-1,150,000	-1,516,000	-697,000	-1,059,000	-1,359,000	-677,000	-1,267,000	-2,453,000	-2,160,000	-2,418,000	-2,590,000	-4,160,000	-2,743,000	-2,522,000	-3,518,000	-3,015,000	-5,795,000		-3,671,000	-3,374,000	-2,583,000		-3,535,000	-3,245,000	-3,450,000		-762,000			-1,794,000	-1,551,000			-391,000	-815,000	-1,200,000	-207,000		-1,028,000	-804,000	-1,020,000																	-3,133,000	-8,766,000	-10,182,000	-8,589,000	-9,316,000	-9,230,000	-9,067,000	-10,163,000	-6,685,000	-5,970,000			-4,617,000	-5,134,347	-3,050,061
adjustments to reconcile net loss to net cash from operating activities:
stock-based compensation	5,374,000	4,402,000	4,581,000	5,225,000	5,744,000	5,608,000	2,604,000	2,335,000	2,129,000	949,000	835,000	673,000	616,000	470,000	485,000	495,000	522,000	572,000	415,000	250,000
gain from change in fair value of warrant liabilities					0	0	-65,142,000	-43,041,000
depreciation					228,000	228,000	246,000	250,000	267,000	273,000	272,000	272,000	271,000	181,000	174,000	178,000	179,000
amortization of intangible assets					32,000	31,000	56,000	61,000	89,000	119,000	119,000	119,000	118,000	119,000	125,000	135,000	134,000
changes in operating assets and liabilities:
prepaid expenses and other current assets
operating lease right-of-use assets and liabilities									0	0	0	-17,000	-3,000	-2,000	-3,000	-1,000	-2,000	-1,000	6,000	25,000
accounts payable and other accrued expenses
accrued development expense	-1,002,000	-2,422,000	-289,000	1,637,000	-103,000	947,000	-201,000	-1,240,000	-4,307,000	300,000	1,768,000	2,996,000	-1,816,000	778,000	393,000	122,000	-448,000	789,000	909,000	834,000	161,000	-197,000	368,000	-390,000	362,000	236,000	-64,000	87,000	156,000	0	-18,000	-381,000	399,000	-32,000	24,000	-19,000	-717,000	103,000	-177,000	-76,000	252,000	194,000	241,000	182,000	-312,000	5,000	31,000	-340,000	-101,000	170,000	190,000	-547,000	136,000	188,000	186,000	-495,000	160,000	178,000	141,000	177,000	-388,000	-462,000	340,000	-453,000	107,000	623,000	-411,000	-127,000	167,000	40,000	-151,000	156,000	-3,099,000	-98,000	-48,000	-1,715,000	3,000	133,000	-677,000	1,857,000	-2,078,000	-380,000	398,000	163,000	578,000	2,214,000
accrued compensation and benefits	1,263,000	-201,000	-292,000	-502,000	-593,000	1,732,000	-10,000	28,000	13,000	-33,000	8,000	42,000	10,000	-16,000	4,000	-1,705,000	1,751,000	6,000	21,000	16,000	3,000	-4,000	12,000	14,000				1,000					11,000	-11,000	7,000	-33,000	-5,000	-594,000	-549,000	860,000	-423,000	146,000	162,000	86,000	-572,000	177,000	168,000	167,000	162,000	171,000	-735,000	261,000	-224,000	700,000	-709,000	171,000	130,000	153,000	-868,000	-212,000	-617,000	1,325,000	-39,000	-95,000	52,000	-522,000	-572,000	490,000										84,000	-450,000	274,000	85,000	228,000	-451,000	224,000	40,000	-268,000	63,000	211,000	10,000	-182,000
other liabilities	-29,000	107,000	46,000	-186,000	1,000	149,000	103,000	-260,000	-6,000	98,000	-83,000	-313,000	76,000	42,000	116,000	-370,000																																																		19,000	1,000	-17,000
net cash from operating activities	-9,748,000	-6,221,000	-4,947,000	-11,336,000	-61,265,000	-18,296,000	-18,241,000	-19,127,000	-22,316,000	-26,530,000	-19,924,000	-13,255,000	-21,320,000	-21,550,000	-11,114,000	-23,530,000	-7,987,000	-14,764,000	-5,139,000	-2,306,000	-1,175,000	-2,171,000	-842,000	-1,194,000	-589,000	-730,000	-591,000	-604,000	-565,000	-1,436,000	-1,126,000	-1,643,000	-1,437,000	-2,151,000	-3,197,000	-1,452,000	-3,031,000	-2,787,000	-3,274,000	-3,142,000	-3,548,000	-2,410,000	-1,948,000	-1,147,000	-2,563,000	-1,672,000	-2,591,000	-2,723,000	-1,454,000	-1,819,000	-1,801,000	-1,873,000	-1,854,000	-1,297,000	-1,950,000	-2,070,000	-809,000	-1,173,000	-1,547,000	3,269,000	-3,339,000	3,430,000	560,000	-794,000	-2,040,000	-5,256,000	-3,614,000	-3,781,000	-4,394,000	17,469,000	-3,522,000	1,610,000	-2,732,000	-517,000	-1,307,000	6,787,000	-10,200,000	6,848,000	-4,849,000	-3,626,000	140,514,000	-9,772,000	-9,757,000	-7,753,000				-6,920,000	-6,371,000	-5,892,000
capital expenditures	-501,000	0	0		-57,000	-17,000	0		-41,000	-22,000	6,000	-357,000	335,000	-1,156,000	-1,466,000	-425,000	-100,000	-22,041,000	0	0	0	0	0		0	0	0	-18,000	0	0	0	0	0	0	0		1,000	0	0		0	0	0	-195,000	-1,000	0	0	-79,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0		-157,000	-426,000	-65,000	-48,000	0	0	0	-94,000	-39,000	-272,000	-117,000	-35,000				-208,000	0	0
free cash flows	-10,249,000	-6,221,000	-4,947,000		-61,322,000	-18,313,000	-18,241,000		-22,357,000	-26,552,000	-19,918,000	-13,612,000	-20,985,000	-22,706,000	-12,580,000	-23,955,000	-8,087,000	-36,805,000	-5,139,000	-2,306,000	-1,175,000	-2,171,000	-842,000		-589,000	-730,000	-591,000	-622,000	-565,000	-1,436,000	-1,126,000	-1,643,000	-1,437,000	-2,151,000	-3,197,000		-3,030,000	-2,787,000	-3,274,000		-3,548,000	-2,410,000	-1,948,000	-1,342,000	-2,564,000	-1,672,000	-2,591,000	-2,802,000	-1,454,000	-1,819,000	-1,801,000	-1,873,000	-1,854,000	-1,297,000	-1,950,000	-2,070,000	-809,000	-1,173,000	-1,547,000	3,269,000	-3,339,000	3,430,000	560,000	-794,000	-2,040,000	-5,256,000	-3,614,000	-3,781,000	-4,394,000	17,469,000	-3,522,000		-2,889,000	-943,000	-1,372,000	6,739,000	-10,200,000	6,848,000	-4,849,000	-3,720,000	140,475,000	-10,044,000	-9,874,000	-7,788,000				-7,128,000	-6,371,000	-5,892,000
cash flows from investing activities:
purchases of property and equipment	-501,000				-57,000	-17,000																			0	0	0	-18,000									1,000				0	0	0	-195,000	-1,000	0	0	-79,000																														0	0	-94,000
net cash from investing activities	-501,000				-57,000	-17,000			-41,000	-22,000	6,000	-357,000	335,000	-1,156,000	-1,466,000	-425,000	-100,000	-22,041,000			0	0	260,000	100,000	0	0	0	-18,000							0	2,101,000	-1,544,000	-625,000	1,500,000	-1,497,000	900,000	51,000	1,051,000	-2,194,000	1,101,000	-851,000	1,001,000	-79,000	51,000	1,000	1,501,000	4,103,000	-2,605,000	10,517,000	7,005,000	2,705,000	2,503,000	10,000,000	4,998,000	42,402,000	-13,320,000	35,935,000	15,174,000	14,674,000	8,545,000	-110,939,000	-24,208,000	23,374,000	12,640,000	1,637,000	7,321,000	58,638,000	46,997,000	-8,063,000	-9,190,000	39,347,000	-5,577,000	-26,519,000	-12,152,000	-24,894,000	-46,516,000	8,741,000	12,069,000	6,425,000
cash flows from financing activities:
proceeds from issuance of common stock upon exercise of stock options	0	0	0	90,000					1,143,000	464,000	889,000	64,000	9,000	136,000	119,000	211,000	0
proceeds from exercise of common stock warrants, net of exercise costs					0	0	101,392,000	22,160,000
2025 atm offering program costs
net cash from financing activities	-329,000	0	0	90,000	918,000	0	101,392,000	22,160,000	1,143,000	464,000	889,000	64,000	47,338,000	136,000	119,000	211,000	0	75,000	1,274,000	190,992,000	70,607,000	991,000	236,000	3,613,000	5,866,000	0	0	-60,000	-72,000	12,272,000	0	1,898,000					-24,000	0	-214,000	-46,000					0	0	313,000	66,000	264,000	0	254,000	6,000	-34,426,000	0			-259,000	52,000	4,485,000	4,425,000	-84,835,000	154,000	382,000	983,000	120,000	164,000	232,000	39,000	962,000	-581,000	-9,181,000	-16,008,000	1,488,000	203,000	-2,128,000	-704,000	605,000	120,000	285,000	694,000	232,000	-60,000	93,000	56,000				47,000	621,000	46,446,000
net increase in cash and cash equivalents	-10,578,000	-6,301,000	-4,947,000	-11,246,000			83,122,000	3,033,000					26,353,000	-22,570,000	-12,461,000	-23,744,000	-8,087,000	-36,730,000	-3,938,000	188,686,000	69,432,000	-1,180,000	-346,000	2,519,000	5,277,000			-682,000	-637,000			255,000				649,000										-2,523,000	-1,277,000	-2,736,000	-1,139,000	-1,818,000	-46,000	2,236,000	-38,885,000	9,220,000	5,241,000	635,000	1,435,000	8,879,000	7,936,000	50,096,000	-101,494,000	39,519,000	16,116,000	14,863,000	6,625,000	-116,031,000	-27,590,000	19,632,000	9,208,000	18,525,000	-5,382,000	44,240,000	45,753,000	-8,377,000	-12,625,000	45,430,000	-15,172,000	-19,551,000			94,230,000	-1,091,000	2,405,000	-1,272,000	-371,000	-1,422,000	-4,009,000	-4,846,000	-34,873,000	4,354,000				-3,801,217	-3,913,485
cash and cash equivalents at beginning of period	0	0	0	128,574,000			0	121,136,000	0	0	0	201,015,000	0	0	0	233,437,000	0	0	0	93,506,000	0	0	0	23,081,000	0	0	0	19,807,000	0	0	0	10,479,000	0	0																																				0	0	86,567,000	0	0	0	16,386,000	0	0	0	95,651,000	0	0	0	1,379,000	0	0	0	12,027,000	0	0	0	50,091,000	50,091,000	-291	0
cash and cash equivalents at end of period	-10,578,000	-6,301,000	-4,947,000	117,328,000			83,122,000	124,169,000	-21,214,000	-26,088,000	-19,029,000	187,467,000	26,353,000	-22,570,000	-12,461,000	209,693,000	-8,087,000	-36,730,000	-3,938,000	282,192,000	69,432,000	-1,180,000	-346,000	25,600,000	5,277,000	-730,000	-591,000	19,125,000	-637,000	10,836,000	-1,126,000	10,734,000	-1,437,000	-2,151,000																																				18,525,000	-5,382,000	130,807,000	45,753,000	-8,377,000	-12,625,000	61,816,000	-15,172,000	-19,551,000	-16,716,000	67,825,000	94,230,000	-1,091,000	2,405,000	107,000	-371,000	-1,422,000	-4,009,000	7,181,000	-34,873,000	4,354,000	-3,118,000	45,664,000	45,664,000	-3,801,508	-3,913,485
supplemental cash flow information:
non-cash financing activities
issuance of warrants resulting in recognition of warrant liabilities					0	0	0	113,363,000
derecognition of warrant liabilities upon exercise of warrants					0	0	-226,000	-4,954,000
net income		-10,807,000	-44,224,000	-23,403,000		-27,943,000	6,155,000	25,043,000																																												-408,000				30,000									-297,000	-1,312,000	-34,000	-1,824,000	-1,389,000	15,191,000	-1,025,000	2,570,000	1,131,000	3,173,000	3,365,000	12,636,000	-5,711,000	9,655,000	1,367,000	877,000												-4,617,000
depreciation and amortization		131,000	218,000	220,000															8,000	1,000	1,000	1,000	6,000	14,000	14,000	14,000	13,000	17,000	17,000	18,000	17,000	17,000	17,000	17,000	16,000	18,000	17,000	13,000	14,000	14,000	13,000	14,000	14,000	4,000	5,000	3,000	4,000	3,000					0	52,000	35,000	35,000	35,000	35,000	40,000	53,000	55,000	58,000	59,000	60,000	61,000	63,000	67,000	66,000	101,000	117,000	117,000	117,000	99,000	83,000	82,000	92,000	85,000	85,000	81,000	94,000	95,000	90,000	91,000	92,000	101,000	100,000	96,000	86,000	85,000	84,000
prepaid and other current assets		-390,000	383,000	5,135,000		1,260,000	-5,001,000	-1,333,000		-1,739,000	1,437,000	2,679,000
accounts payable and accrued expenses		2,959,000	34,630,000	538,000		-308,000	42,949,000	-970,000		-846,000	2,096,000	4,565,000
proceeds from common stock offering, net of issuance costs
non-cash investing activities
purchases of property and equipment included in accounts payable
net increase in cash, cash equivalents and restricted cash
cash, cash equivalents and restricted cash at beginning of period
cash, cash equivalents and restricted cash at end of period
reconciliation to condensed consolidated balance sheet:
cash and cash equivalents
restricted cash
cash, cash equivalents and restricted cash
prepaid and other assets													-1,601,000	-1,641,000	5,494,000	-1,063,000	-854,000	-7,866,000
purchase of property and equipment									-41,000	-22,000	6,000	-357,000	335,000	-1,156,000	-1,466,000	-425,000	-100,000	-22,041,000																																																							-157,000	-426,000	-65,000	-48,000					-39,000	-272,000	-117,000	-35,000	191,000	-62,000	-77,000	-208,000						-2,093	0
proceeds from issuance of common stock upon exercise of 2018 warrants
net decrease in cash and cash equivalents										-26,088,000	-19,029,000	-13,548,000																					-1,437,000	-2,151,000			-4,599,000	-3,412,000	-1,988,000	-4,685,000	-2,694,000	-2,359,000	-897,000	-3,341,000																																				-27,826,000
gain on sale of property and equipment																					0	0	-246,000	-100,000
accounts payable													143,000	-1,224,000	1,426,000	-3,794,000	4,781,000	433,000	1,048,000	-47,000	446,000	49,000	-192,000	155,000	113,000	-254,000	99,000	201,000	-255,000	-413,000			-288,000	54,000	93,000	270,000	-760,000	705,000	-665,000	9,000	116,000	433,000	210,000	82,000	-649,000	462,000	-68,000	-17,000	-86,000	96,000	69,000	5,000	-146,000	6,000	-1,000	38,000	-92,000	-48,000	168,000	-671,000	392,000	90,000	140,000	-832,000	312,000	30,000	-710,000	-531,000	-1,269,000	279,000	244,000	-662,000	616,000	788,000	1,380,000	-145,000	547,000	-158,000	-224,000	-178,000	434,000	-442,000	102,000	27,000	46,000	14,000	-3,078,000	1,664,000	-96,000	1,806,000
proceeds from sale of property and equipment																					0	0	260,000	100,000
proceeds from issuance of common stock upon exercise of common stock warrants																	0
other current liabilities																		653,000	0	-44,000			3,000	2,000	2,000	-7,000	2,000	12,000		-4,000	2,000	10,000
proceeds from registered direct offering, net of issuance costs																		0	0	189,825,000
proceeds from exercise of stock options																			1,274,000	475,000	0
proceeds from exercise of common stock warrants																			0	692,000	356,000	735,000	236,000	3,613,000
other current assets																				185,000	509,000	-811,000			129,000	-336,000	91,000	93,000	43,000	-246,000	82,000	72,000	104,000	-276,000	114,000	230,000	104,000	-341,000	184,000	139,000	194,000	-320,000	-81,000	120,000	119,000	124,000	-341,000	124,000	124,000	-386,000	124,000	126,000	125,000	-283,000	380,000	-117,000	-274,000	0	0	60,000	-2,160,000	-268,000	2,163,000	531,000				171,000	-133,000	-376,000	279,000	-8,000	2,559,000			38,000
receivable from exercise of stock options																				1,271,000
non-cash stock-based compensation																					238,000	228,000	252,000	270,000	304,000	319,000	329,000	344,000	403,000	484,000	699,000	802,000	750,000	687,000	709,000	827,000	845,000	845,000	934,000	1,710,000	818,000	795,000	882,000	962,000	1,004,000	1,090,000	884,000	783,000																																								52,000
issuance costs from 2018 sale of common stock and warrants																									0	0	0	-60,000
proceeds from follow-on public offering, net of issuance costs
proceeds from sale of common stock and warrants
proceeds from issuance of common stock and warrants, net of issuance costs
non-cash net interest income																																																			-1,000	-7,000	-3,000	75,000	137,000	133,000	168,000	287,000	300,000	386,000	174,000	304,000	43,000	731,000	172,000	-678,000	-121,000	649,000	172,000	123,000	-164,000	942,000	-316,000	192,000	-147,000	950,000							62,000	245,000
other non-current assets																																																	340,000
purchases of marketable securities																																	0	0	0	-399,000	-2,095,000	-549,000	0	-1,497,000	0	-899,000	-949,000	-1,999,000	2,000	-1,101,000	-249,000	-1,250,000	-1,249,000	-1,299,000	-1,299,000	-2,797,000		-4,286,000	-4,795,000	-4,795,000						-18,912,000	-13,177,000	-18,677,000														-35,351,000	-30,267,000	-46,284,000
sales of marketable securities																																	0	0	0	400,000																																2,024,000	4,040,000	3,759,000	7,322,000	37,766,000	65,992,000	2,478,000	51,586,000	79,625,000	6,265,000	2,132,000	3,660,000	15,204,000						32,639,000
maturities of marketable securities																																	0	0	0	2,100,000	550,000	0			900,000	950,000			1,100,000	250,000	1,250,000	1,250,000	1,300,000	1,300,000	2,800,000	6,900,000	4,287,000	14,803,000	11,800,000	7,500,000	5,000,000	10,000,000	4,998,000	42,402,000	1,667,000	47,440,000	28,351,000	33,351,000	19,000,000	8,000,000	0	21,350,000	8,600,000	0	-1,000	20,872,000	0	2,000,000	4,000,000	2,500,000	12,375,000	6,700,000	14,455,000	6,280,000						0
proceeds from issuance of common stock, net of issuance costs																														12,272,000	0	1,898,000
net cash provided (used in) investing activities																																	0
cash from statutory taxes for net exercise of performance awards																																						0
deferred financing costs																																					-24,000	0	0	-46,000
cash and cash equivalents at beginning of the period																																				16,615,000	0	0	0	31,299,000	0	0	0	40,590,000	0	0	0	48,588,000	0	0	0	49,355,000		0	0	73,144,000		0	0	4,798,000		0	0	35,794,000		0	0	153,158,000
cash and cash equivalents at end of the period																																				17,264,000	-4,599,000	-3,412,000	-1,988,000	26,614,000	-2,694,000	-2,359,000	-897,000	37,249,000	-1,462,000	-2,523,000	-1,277,000	45,852,000	-1,139,000	-1,818,000	-46,000	51,591,000		9,220,000	5,241,000	73,779,000		8,879,000	7,936,000	54,894,000		39,519,000	16,116,000	50,657,000		-116,031,000	-27,590,000	172,790,000
proceeds from issuance of common stock																																													0	0	313,000	66,000	264,000	0	254,000	6,000		0							566,000	154,000	382,000	983,000	129,000	164,000	232,000	39,000	664,000	-580,000	252,000	765,000	1,489,000	203,000	817,000	143,000	543,000	120,000	285,000	694,000	232,000	-60,000	93,000	56,000	54,390,000	-2,000	368,000	47,000
statutory taxes for net exercise of performance awards
adjustments to reconcile net income to net cash from operating activities:
deferred program fee revenue																																																	-35,244,000	-1,958,000	-1,959,000	-1,958,000	-2,468,000	-2,725,000	-2,724,000	-2,724,000					-15,496,000	10,047,000	-2,523,000	-2,524,000	-3,587,000	-3,587,000	-3,587,000	-3,587,000	-3,587,000	-3,588,000	-3,587,000	-3,586,000						-6,550,000	-6,550,000	-6,550,000
deferred tax liabilities
other assets																																														0												86,000	0	-11,000		1,000	5,000	1,578,000					-1,061,000				0
adjustments to reconcile net income to net cash used
in operating activities:
excess tax benefits from equity-based compensation plans
nondividend distribution
other accrued liabilities																																																7,000	3,000	0	0	-24,000	0	-17,000	7,000	-48,000	-14,000	-14,000	16,000	-3,000	-5,000	-24,000	-173,000	-188,000	-52,000	-108,000	185,000	-369,000	533,000	517,000	-945,000	555,000	297,000	500,000	-780,000	593,000	300,000	28,000	-1,763,000	1,660,000	71,000	-24,000	-17,000	11,000			0	-6,000	-69,000	-1,000
adjustments to reconcile net income to net cash
used in operating activities:
non-cash stock based compensation																																																	771,000	839,000	812,000	679,000	2,577,000	2,257,000	869,000	907,000	1,211,000	1,491,000	1,423,000	1,303,000	16,206,000	1,159,000	1,349,000	1,418,000	1,793,000	1,672,000	1,575,000	1,619,000	1,804,000	5,165,000	1,710,000	1,526,000	2,017,000	1,630,000	1,429,000	1,218,000			1,435,000	1,685,000	89,000	69,000	123,000	-33,000	69,000	20,000
receivables																																																									640,000	199,000	1,157,000	5,118,000
adjustments to reconcile net loss to net cash used
other non-current liabilities
purchase of marketable securities																																																																	-10,435,000	-118,917,000			0				-18,838,000	-12,115,000	-64,711,000	-42,730,000					-61,129,000	-8,911,000	-16,994,000	-6,557,000	-57,367,000	-26,124,000	-8,109,000	-22,467,000
proceeds from (cash from) issuance of common stock
cash and cash equivalents at beginning of the year
cash and cash equivalents at end of the year
cash received for income taxes
tax benefits from equity-based compensation plans
cash paid for income taxes																																																																	-4,000	847,000	0	334,000					0	0	0	2,800,000
program fee revenue																																																										-2,725,000	-2,724,000	-2,724,000
proceeds from sales of marketable securities
proceeds from exercise of common stock options																																																										52,000	4,485,000	4,425,000
adjustments to reconcile net loss to net cash used in operating activities:
loss on disposal of property and equipment																																																																													0
purchase of stock pursuant to the stock repurchase plan																																																																					0	-1,000	-9,433,000	-16,773,000
non-cash tax benefit from carry-back																																																																		-363,000	-1,000	-321,000
income taxes payable																																																																									-67,000	0	0	-2,712,000	-800,000
other current assets and other assets																																																																		-1,093,000
proceeds from the sales of marketable securities																																																																		-22,000
collaboration revenue receivable																																																																										0	0	2,382,000		3,709,000	-2,071,000	-3,345,000
recognition of program fees
purchase of treasury stock																																																																										0	-2,945,000	-847,000
amortization of program fees																																																																											-6,550,000	-6,550,000
non-cash change in interest income																																																																														-770,000	-432,000	-498,000
prepaid expenses																																																																														-298,000	78,000	498,000	-83,000	-505,000	117,000	107,000	156,000	-369,000	309,000	966,000
accrued income tax
stock subscription note payments received																																																																																									98,000	0
non-cash interest income																																																																																						-360,000	30,000	270,000
sales and maturities of marketable securities																																																																																		17,924,000	29,180,000	13,017,000				24,702,000	2,258,000
proceeds from issuance of preferred stock
non-cash expense for warrants issued
cash flows from investing activities: - sum
cash flows from financing activities: - sum																																																																																						-2,000
net cash from investment activities																																																																																								2,027,000
non-cash stock based compensation expense and other																																																																																										-27,000
prepaid and other expenses
proceeds from issuance of various preferred stock
proceeds from public offerings
proceeds from issuance of common stock pursuant to employee stock plans and warrants
interest receivable
proceeds from initial public offering
cash flows used in investing activities:
proceeds from issuance of series b redeemable convertible preferred stock
proceeds from issuance of series c redeemable convertible preferred stock
proceeds from issuance of series a convertible preferred stock
net proceeds from issuance of common stock
repayment (funding) of notes receivable by stockholders																																																																																															20,034
proceeds from issuance of common stock, net of repurchases

Cassava Sciences, Inc(NASDAQ:SAVA)

Cassava Sciences, Inc
(NASDAQ:SAVA)