7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 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 
      
    		                                       
      cash flows from operating activities:
    		                                       
      net income
    		-60,715,000 -71,847,000 -84,846,000 -94,169,000 -84,126,000 -68,063,000 -72,400,000 -72,473,000 -51,146,000 -44,615,000 -41,126,000 -39,194,000 -35,403,000 -37,572,000 -37,169,000 96,198,000 -20,639,000 -22,910,000 -27,723,000 -20,423,000 -20,437,000 -17,062,000 -15,236,000 -14,000,000 -12,829,000 -14,916,000 -14,302,000 -18,837,000 -17,339,000 -18,387,000 -19,398,000 -19,103,000 -15,089,000 -13,639,000 -12,971,000 -10,815,000 -14,969,000 -8,358,000 -10,330,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                       
      depreciation
    		   0 2,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 8,000 11,000 11,000 10,000 8,000 9,000 16,000 21,000 23,000 22,000 23,000                 
      accretion of investments
    		-2,413,000 -3,211,000 -3,599,000 -2,940,000 -3,058,000 -3,649,000 -3,821,000  -3,659,000 -3,718,000 -3,967,000                             
      non-cash operating lease expense
    		158,000 172,000 221,000 208,000 295,000 242,000 244,000 243,000 237,000 149,000 110,000 112,000 100,000 99,000 110,000 111,000 105,000 96,000 101,000 105,000 107,000 106,000 108,000                 
      stock-based compensation
    		12,082,000 13,787,000 10,380,000 12,297,000 11,934,000 9,896,000 8,899,000 8,327,000 8,321,000 8,065,000 6,238,000 4,241,000 4,362,000 3,938,000 3,478,000 3,929,000 3,381,000 3,240,000 2,767,000 2,035,000 3,063,000 2,130,000 1,829,000 1,525,000 1,550,000 1,338,000 1,592,000 1,472,000 1,737,000 1,571,000 1,421,000 1,280,000 1,345,000 1,448,000 1,377,000 947,000 792,000 779,000 2,190,000 
      amortization of debt issuance costs
    		62,000 55,000 112,000                                     
      benefit from credit losses
    		                                       
      changes in operating assets and liabilities:
    		                                       
      accounts receivable
    		-5,949,000 -3,732,000 -8,120,000                                     
      inventory
    		-7,183,000 -12,916,000 -4,191,000                                     
      prepaid expenses and other assets
    		-4,364,000 -10,770,000 5,992,000  -10,677,000 1,964,000 -2,854,000 3,957,000 -3,740,000 -2,440,000 2,899,000 4,702,000 -2,744,000 9,761,000 -14,691,000 77,000 886,000 -1,697,000 -660,000 1,475,000 -3,405,000 146,000 -2,530,000 10,000 2,603,000 -212,000 -2,453,000 3,817,000 63,000 -225,000 -2,622,000 -81,000 834,000 59,000 -1,141,000 -1,549,000 314,000 219,000 -613,000 
      collaboration (payable) receivable
    		-3,420,000 -24,503,000 -7,044,000  2,403,000                                   
      other receivable
    		-38,000 -39,000 45,000 -128,000 6,075,000 -3,509,000 -6,073,000                                 
      other assets
    		   0                                    
      accounts payable
    		-3,527,000 7,306,000 -1,579,000 6,728,000 -6,670,000 2,759,000 -1,152,000 3,912,000 -4,930,000 2,922,000 3,707,000 -2,764,000 676,000 -1,793,000 2,562,000 547,000 1,498,000 -2,905,000 3,021,000 -328,000 2,004,000 -7,166,000 2,820,000 -454,000 4,355,000 -2,070,000 2,908,000 -1,740,000 -2,119,000 2,709,000 358,000 12,000 -1,006,000 434,000 366,000 365,000 612,000 349,000 -403,000 
      accrued expenses and other liabilities
    		1,102,000 17,903,000 -2,533,000  21,037,000 -6,844,000 -6,709,000 7,503,000 14,160,000 2,378,000 -9,174,000 10,966,000 -3,861,000 -1,540,000 3,856,000 638,000 1,896,000 194,000 41,000 1,686,000 617,000 776,000 -2,512,000 548,000 -3,881,000 3,939,000 -4,017,000 810,000 -287,000 -360,000 811,000 1,297,000 3,886,000 129,000 -7,000 958,000 2,177,000 422,000 1,285,000 
      net cash from operating activities
    		-70,535,000 -87,795,000 -95,162,000 -57,388,000 -62,322,000 -71,645,000 -83,548,000 -41,349,000 -44,653,000 -35,371,000 -39,228,000 -22,894,000 -28,544,000 -40,306,000 -41,931,000 100,709,000 -24,944,000 -24,045,000 -22,589,000 -15,631,000 -18,297,000 -21,407,000 -15,925,000 -12,727,000 -8,529,000 -12,525,000 -16,831,000 -15,043,000 -18,469,000 -15,149,000 -19,870,000 -12,722,000 -10,181,000 -11,800,000 -12,668,000 -10,416,000 -11,448,000 -6,890,000 -6,403,000 
      capex
    		0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -14,000 0 0 -173,000 -42,000 0 0 0 0 -55,000 -73,000 -133,000 
      free cash flows
    		-70,535,000 -87,795,000 -95,162,000 -57,388,000 -62,322,000 -71,645,000 -83,548,000 -41,349,000 -44,653,000 -35,371,000 -39,228,000 -22,894,000 -28,544,000 -40,306,000 -41,931,000 100,709,000 -24,944,000 -24,045,000 -22,589,000 -15,631,000 -18,297,000 -21,407,000 -15,925,000 -12,727,000 -8,529,000 -12,525,000 -16,831,000 -15,057,000 -18,469,000 -15,149,000 -20,043,000 -12,764,000 -10,181,000 -11,800,000 -12,668,000 -10,416,000 -11,503,000 -6,963,000 -6,536,000 
      cash flows from investing activities:
    		                                       
      purchases of property and equipment
    		                           -14,000 0 0 -173,000 -42,000    0 -55,000 -73,000 -133,000 
      purchases of short and long-term investments
    		-30,440,000 -91,713,000 -10,538,000 -376,314,000 -13,353,000 0 -167,385,000 -129,290,000 -82,723,000 -81,008,000 -61,585,000                             
      proceeds from sales and maturities of short-term investments
    		103,000,000 133,600,000 104,680,000  100,200,000 61,750,000 67,986,000 113,000,000 122,800,000 154,915,000 81,500,000 113,250,000 72,817,000 72,418,000 50,448,000 45,400,000 89,575,000 81,500,000 37,500,000 64,447,000 38,500,000 17,575,000 15,885,000 41,722,000 21,362,000 20,335,000 33,380,000 34,679,000 29,500,000 41,750,000 24,500,000 40,843,000 31,985,000 37,352,000 25,095,000 47,895,000 30,025,000 30,520,000 31,857,000 
      net cash from investing activities
    		72,429,000 41,887,000 94,142,000 -268,973,000 86,847,000 61,750,000 -99,399,000 -16,290,000 40,077,000 73,907,000 19,915,000 -137,629,000 -6,793,000 -49,948,000 8,182,000   21,680,000 -29,228,000   -78,612,000 -19,053,000 6,596,000 12,364,000 -18,931,000 12,752,000 15,962,000 3,508,000 19,284,000 12,644,000 1,544,000 6,921,000 -36,555,000 11,063,000 21,331,000 8,050,000 -624,000 -47,137,000 
      cash flows from financing activities:
    		                                       
      proceeds from employee stock purchase plan
    		-80,000 468,000 545,000  535,000 237,000 309,000  259,000 178,000 196,000  110,000 58,000 92,000 125,000 99,000 64,000 79,000 103,000 93,000 85,000 64,000 57,000 53,000 45,000 27,000 69,000 32,000 63,000 34,000 58,000        
      proceeds from stock option exercises
    		6,358,000 83,000 385,000 3,139,000 2,563,000 439,000 1,859,000 112,000 1,592,000 1,146,000 2,278,000 1,396,000 7,363,000 2,235,000 465,000  1,606,000 825,000 881,000  1,707,000 1,015,000 338,000  27,000    0    7,000       
      net cash from financing activities
    		6,278,000 551,000 930,000 347,425,000 3,098,000 676,000 2,168,000 258,483,000 1,851,000 1,324,000 2,474,000 163,502,000 -13,525,000 21,720,000 557,000 109,779,000 1,705,000 6,020,000 960,000 138,658,000 1,767,000 109,001,000 54,998,000 58,000 80,000 6,000 28,426,000 6,145,000 9,462,000 89,000 33,000 25,614,000 1,004,000 48,987,000 117,000 176,000 1,710,000 -1,232,000 53,548,000 
      net decrease cash, cash equivalents and restricted cash
    		8,172,000                                       
      cash, cash equivalents and restricted cash—beginning of period
    		0 0 154,300,000  0 0 295,611,000  0 0 74,471,000  0 0 222,080,000  0 0 115,358,000  0 0 24,724,000  0 0 33,985,000  0 0 35,389,000         
      cash, cash equivalents and restricted cash —end of period
    		8,172,000 -45,357,000 154,210,000  27,623,000 -9,219,000 114,832,000  -2,725,000 39,860,000 57,632,000  -48,862,000 -68,534,000 188,888,000  3,392,000 3,655,000 64,501,000  2,745,000 8,982,000 44,744,000  3,915,000 -31,450,000 58,332,000  -5,499,000 4,224,000 28,196,000         
      net increase cash, cash equivalents and restricted cash
    		  -90,000  27,623,000                                   
      adjustments to reconcile net income to net cash provided provided by operating activities:
    		                                       
      non-cash interest income
    		                                       
      changes in fair value of derivative liability
    		           0 0                           
      prepaid expenses and other current assets
    		                                       
      collaboration payable/receivable
    		                                       
      accrued expenses and other current liabilities
    		                                       
      proceeds from sales of equipment
    		           0                            
      proceeds from maturities of short-term investments
    		                                       
      proceeds from issuance of common stock in follow on public offerings
    		                                       
      proceeds from issuance of common stock in at-the-market offering
    		                                       
      proceeds from purchase and sale agreement
    		                                       
      payment on term loan
    		           2,000                            
      proceeds from espp
    		                                       
      net increase in cash, cash equivalents and restricted cash
    		       200,844,000 -2,725,000       150,532,000 3,392,000 3,655,000 -50,857,000 58,887,000 2,745,000 8,982,000 20,020,000    24,347,000             
      cash, cash equivalents and restricted cash—beginning of year
    		                                       
      cash, cash equivalents and restricted cash—end of year
    		                                       
      supplemental schedule of cash flow information:
    		                                       
      interest paid
    		                                      1,000 
      issuance costs in accounts payable and accrued expenses
    		                                       
      lease assets recognized upon lease remeasurement
    		                                       
      collaboration receivable (payable)
    		      315,000  -3,899,000                               
      net (decrease) in cash, cash equivalents and restricted cash
    		      -180,779,000                                 
      amortization of investments
    		                                       
      other
    		               0    -1,000 3,000    3,000   12,000 1,000 -3,000 1,000 0 0 1,000 7,000 28,000 -1,000   
      deferred revenue
    		               0 -12,375,000 -379,000 -379,000 -379,000 -380,000 -379,000 -379,000 -379,000 -380,000 -379,000 -379,000 -379,000 -380,000 -379,000 -379,000 3,807,000 -305,000 -305,000 -305,000 -305,000 -305,000 -305,000 -305,000 
      allocation of proceeds to common stock issued under the incyte share purchase agreement
    		                                       
      allocation of proceeds to derivative liability recorded under the incyte share purchase agreement
    		                                       
      non-cash interest expense
    		           0 792,000 159,000 152,000 -583,000 124,000 120,000 114,000 113,000 110,000 104,000 62,000                 
      proceeds from issuance of common stock in at-the-market stock offering
    		            0    0        0 0 830,000             
      supplemental disclosure of cash flow information:
    		                                       
      cash paid for interest
    		            1,099,000 490,000 470,000  503,000 503,000 493,000  504,000 503,000 126,000                 
      collaboration receivable
    		          2,082,000 1,065,000                            
      net decrease in cash, cash equivalents and restricted cash
    		          -16,839,000  -48,862,000 -68,534,000 -33,192,000          3,915,000    -5,499,000 4,224,000 -7,193,000         
      (accretion) and amortization of investments
    		                                       
      proceeds from issuance of common stock in direct placement offering
    		                                       
      proceeds from term loan agreement
    		                                       
      amortization and accretion of short-term investments
    		                                       
      purchases of short-term investments
    		            -79,835,000 -122,366,000 -42,266,000 -105,227,000 -62,944,000 -59,820,000 -66,728,000 -128,587,000 -19,225,000 -96,187,000 -34,938,000 -35,126,000 -8,998,000 -39,266,000 -20,628,000 -18,703,000 -25,992,000 -22,466,000 -11,683,000 -39,251,000 -25,023,000 -73,908,000 -14,081,000 -26,567,000 -21,820,000 -31,069,000 -78,863,000 
      amortization and accretion of investments
    		             -267,000 -53,000 171,000 173,000 187,000 113,000 65,000 -2,000 -83,000 -110,000                 
      other receivables
    		                                       
      changes in fair value of derivate liability
    		              -187,000                         
      proceeds from exercise of stock options
    		                                       
      net cash from (used) in investing activities
    		                                       
      proceeds from direct stock offering
    		                    -33,000 107,901,000 34,866,000  0 -192,000 27,571,000             
      proceeds from debt agreement
    		                    0 0 19,730,000                 
      supplemental disclosures of noncash investing and financing activities:
    		                                       
      issuance costs debt included in accounts payable and accrued expenses
    		                      82,000                 
      net cash (used in)/provided by investing activities
    		                                       
      proceeds from issuance of common stock in follow on public offering
    		                                       
      depreciation, amortization and accretion
    		                        -176,000 -224,000 -180,000  -145,000 -75,000 -62,000  154,000 73,000 6,000  -69,000 4,000 53,000 
      amortization of operating leases
    		                                       
      issuance costs included in accounts payable and accrued expenses
    		                          171,000       26,000 135,000     
      change in fair value of warrants
    		                                       
      proceeds from issuance of common stock in initial public offering
    		                                       
      proceeds from issuance of common stock in follow-on public stock offering
    		                                       
      property and equipment purchases included in accounts payable and accrued expenses
    		                                1,000      73,000 
      vesting of restricted stock
    		                                0 48,000 11,000    10,000 
      amortization of debt discount and debt issuance costs
    		                                       
      change in restricted cash
    		                                  49,000     
      proceeds from issuance of convertible preferred stock
    		                                       
      deferred issuance costs
    		                                       
      payments on term loans
    		                                       
      net increase in cash and cash equivalents
    		                                  -1,488,000 11,091,000   8,000 
      cash and cash equivalents—beginning of year
    		                                       
      cash and cash equivalents—end of year
    		                                       
      change in fair value of warrants and derivative
    		                                    0 0 1,720,000 
      changes in restricted cash
    		                                1,000       
      proceeds from issuance of common stock in initial public stock offering
    		                                   -29,000 -141,000 -1,231,000 53,549,000 
      proceeds from issuance of common stock in follow on public stock offering
    		                                -162,000       
      net decrease in cash and cash equivalents
    		                                -2,256,000       
      cash and cash equivalents—beginning of period
    		                                0 0 23,844,000  0 0 23,179,000 
      cash and cash equivalents—end of period
    		                                -2,256,000 632,000 22,356,000  -1,688,000 -8,746,000 23,187,000 
      accretion of dividends on convertible preferred stock
    		                                      2,598,000 
      reclassification of common stock warrant liability to additional paid-in capital
    		                                      4,551,000 
      conversion of preferred stock to common stock upon closing of initial public offering
    		                                       
      proceeds from the exercise of stock options
    		                                  118,000     
      supplemental disclosures of non-cash investing and financing activities:
    		                                       
      conversion of preferred stock to common stock upon closing of ipo
    		                                      328,942,000 
      write-off of deferred costs associated with postponed initial public offering
    		                                       
      proceeds from issuance of debt
    		                                       
      increase in restricted cash
    		                                       
      payments on debt
    		                                       
      deferred debt issuance and financing costs
    		                                       
      supplement disclosures of cash flow information (note 13).
    		                                       
      decrease in restricted cash
    		                                      2,000 
      principal payments on capital lease obligation
    		                                      -1,000 
      accretion of convertible preferred stock to redemption value
    		                                       
      ipo issuance costs included in accounts payable and accrued expenses
    		                                      1,400,000 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.