Taysha Gene Therapies, Inc(NASDAQ:TSHA) 
Taysha Gene Therapies, Inc., a gene therapy company, focuses on developing and commercializing adeno-associated virus-based gene therapies for the treatment of monogenic diseases of the central nervous system. It primarily develops TSHA-101 for the treatment of GM2 gangliosidosis; TSHA-118 for the t...
Website: http://www.tayshagtx.com
Founded: 2019
CEO: R. A. Session
Sector: Healthcare
Industry: Biotechnology
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At a glance:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 5,485,000 | 1,986,000 | 2,302,000 | 2,022,000 | 1,788,000 | 1,112,000 | 3,411,000 | 3,604,000 | 4,746,000 | 2,395,000 | 4,706,000 | ||||||||||||
yoy | NaN% | 171.27% | NaN% | 78.60% | -32.51% | -43.90% | -62.33% | -53.57% | -27.52% | ||||||||||||||
qoq | NaN% | NaN% | NaN% | -13.73% | 13.85% | 13.09% | 60.79% | -67.40% | -5.36% | -24.06% | 98.16% | -49.11% | |||||||||||
operating expenses: | |||||||||||||||||||||||
research and development | 33,809,000 | 24,952,000 | 25,745,000 | 20,141,000 | 15,565,000 | 15,325,000 | 14,946,000 | 15,073,000 | 20,657,000 | 12,682,000 | 11,791,000 | 19,791,000 | 12,514,000 | 13,861,000 | 16,391,000 | 23,118,000 | 37,799,000 | 37,918,000 | 39,528,000 | 30,643,000 | 23,854,000 | 12,260,000 | 11,057,000 |
general and administrative | 9,677,000 | 8,833,000 | 8,279,000 | 8,598,000 | 8,158,000 | 6,629,000 | 7,902,000 | 7,338,000 | 7,084,000 | 6,719,000 | 8,589,000 | 5,988,000 | 8,751,000 | 7,341,000 | 8,683,000 | 9,867,000 | 11,469,000 | 11,806,000 | 11,153,000 | 10,129,000 | 8,236,000 | 6,107,000 | 3,984,000 |
total operating expenses | 43,486,000 | 33,785,000 | 34,024,000 | 28,739,000 | 23,723,000 | 21,954,000 | 27,686,000 | 22,411,000 | 27,741,000 | 19,850,000 | 20,996,000 | 25,779,000 | 21,265,000 | 57,622,000 | 25,074,000 | 32,985,000 | 49,268,000 | 49,724,000 | 50,681,000 | 40,772,000 | 32,090,000 | 18,367,000 | 15,041,000 |
income from operations | -43,486,000 | -28,300,000 | -34,024,000 | -26,753,000 | -21,421,000 | -19,932,000 | -25,898,000 | -21,299,000 | -24,330,000 | -16,246,000 | -16,250,000 | -23,384,000 | -16,559,000 | -55,120,000 | -25,074,000 | -32,985,000 | -49,268,000 | -49,724,000 | -50,681,000 | -40,772,000 | -32,090,000 | -18,367,000 | -15,041,000 |
yoy | 103.01% | 41.98% | 31.38% | 25.61% | -11.96% | 22.69% | 59.37% | -8.92% | 46.93% | -70.53% | -35.19% | -29.11% | -66.39% | 10.85% | -50.53% | -19.10% | 53.53% | 170.72% | 236.95% | ||||
qoq | 53.66% | -16.82% | 27.18% | 24.89% | 7.47% | -23.04% | 21.59% | -12.46% | 49.76% | -0.02% | -30.51% | 41.22% | -69.96% | 119.83% | -23.98% | -33.05% | -0.92% | -1.89% | 24.30% | 27.06% | 74.72% | 22.11% | |
operating margin % | NaN% | -515.95% | NaN% | -1347.08% | -930.54% | -985.76% | -1448.43% | -1915.38% | -713.28% | -450.78% | -342.39% | -976.37% | -351.87% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% |
other income: | |||||||||||||||||||||||
change in fair value of warrant liability | -736,000 | -292,000 | -273,000 | 102,000 | 83,000 | 75,000 | 195,000 | -337,000 | 65,738,000 | -100,456,000 | |||||||||||||
change in fair value of term loan | -1,470,000 | -1,643,000 | -1,534,000 | -1,461,000 | -1,530,000 | -548,000 | -1,703,000 | -1,279,000 | -1,053,000 | ||||||||||||||
interest income | 2,586,000 | 2,870,000 | 3,169,000 | 1,859,000 | 1,326,000 | 1,700,000 | 2,107,000 | 1,440,000 | 1,693,000 | 1,921,000 | 1,109,000 | 223,000 | 319,000 | 199,000 | 9,000 | 27,000 | 14,000 | 29,000 | 37,000 | 40,000 | 66,000 | ||
interest expense | -9,000 | -12,000 | -15,000 | -17,000 | -19,000 | -22,000 | -24,000 | -27,000 | -29,000 | -713,000 | -1,471,000 | -1,440,000 | -1,374,000 | -796,000 | -1,241,000 | -912,000 | -849,000 | -691,000 | -543,000 | -194,000 | -1,000 | ||
other income | -31,000 | -237,000 | 13,000 | 42,000 | 3,000 | -8,000 | -6,000 | -1,000 | -3,000 | -8,000 | |||||||||||||
total other income | 1,076,000 | 449,000 | 1,291,000 | -129,000 | -108,000 | 1,147,000 | 374,000 | 371,000 | 269,000 | -25,778,500 | -100,837,000 | -1,214,000 | -1,063,000 | -603,000 | -1,233,000 | -888,000 | -843,000 | -662,000 | -506,000 | -154,000 | 66,000 | 49,000 | -1,000 |
net income | -42,410,000 | -27,851,000 | -32,733,000 | -26,882,000 | -21,529,000 | -18,785,000 | -25,524,000 | -20,928,000 | -24,061,000 | 47,741,000 | -117,087,000 | -24,598,000 | -17,622,000 | -55,723,000 | -26,307,000 | -33,873,000 | -50,111,000 | -50,386,000 | -51,187,000 | -40,926,000 | -32,024,000 | -18,318,000 | -15,042,000 |
yoy | 96.99% | 48.26% | 28.24% | 28.45% | -10.52% | -139.35% | -78.20% | -14.92% | 36.54% | -185.68% | 345.08% | -27.38% | -64.83% | 10.59% | -48.61% | -17.23% | 56.48% | 175.06% | 240.29% | ||||
qoq | 52.27% | -14.91% | 21.77% | 24.86% | 14.61% | -26.40% | 21.96% | -13.02% | -150.40% | -140.77% | 376.00% | 39.59% | -68.38% | 111.82% | -22.34% | -32.40% | -0.55% | -1.56% | 25.07% | 27.80% | 74.82% | 21.78% | |
net income margin % | NaN% | -507.77% | NaN% | -1353.58% | -935.23% | -929.03% | -1427.52% | -1882.01% | -705.39% | 1324.67% | -2467.07% | -1027.06% | -374.46% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% |
net loss per common share, basic and diluted | -120 | -80 | -90 | -90 | -80 | -70 | -100 | -90 | -100 | 920 | -930 | ||||||||||||
weighted-average common shares outstanding, basic and diluted | 366,632,827,000 | 319,711,972,000 | 353,309,524,000 | 297,988,978,000 | 269,306,331,000 | 250,134,421,000 | 267,824,045,000 | 232,821,553,000 | 231,249,344,000 | 116,121,482,000 | 125,700,799,000 | 64,244,531,000 | 63,260,905,000 | 43,952,015,000 | 40,937,808,000 | 40,142,403,000 | 38,174,717,000 | 37,650,566,000 | 38,003,954,000 | 37,479,164,000 | 36,992,377,000 | 17,665,683,000 | 11,733,170,000 |
impairment of long-lived assets | 4,838,000 | 449,000 | 616,000 | ||||||||||||||||||||
other expense | -30,000 | -37,000 | -66,000 | -81,000 | -5,000 | -23,000 | -19,000 | ||||||||||||||||
net income per common share, basic and diluted | -380 | -280 | -1,010 | -640 | -840 | -1,310 | -1,330 | -1,350 | -1,090 | -870 | 330 | -1,280 | |||||||||||
change in fair value of preferred stock tranche liability |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||
current assets: | |||||||||||||||||||||||
cash and cash equivalents | 276,576,000 | 319,767,000 | 297,344,000 | 312,761,000 | 116,593,000 | 139,036,000 | 157,688,000 | 172,743,000 | 123,980,000 | 143,940,000 | 164,278,000 | 45,083,000 | 63,425,000 | 87,880,000 | 34,306,000 | 66,239,000 | 96,630,000 | 149,103,000 | 188,785,000 | 197,370,000 | 228,684,000 | 251,253,000 | 278,634,000 |
restricted cash | 449,000 | 449,000 | 449,000 | 449,000 | 449,000 | 449,000 | 449,000 | 449,000 | 449,000 | 449,000 | 2,637,000 | 2,637,000 | 2,637,000 | 2,637,000 | 2,637,000 | 2,637,000 | 2,637,000 | 2,637,000 | 2,628,000 | ||||
prepaid expenses and other current assets | 5,225,000 | 4,431,000 | 2,158,000 | 3,054,000 | 3,666,000 | 2,645,000 | 3,418,000 | 3,278,000 | 4,168,000 | 3,479,000 | 5,529,000 | 9,032,000 | 8,933,000 | 8,537,000 | 8,696,000 | 10,596,000 | 10,261,000 | 10,499,000 | 8,385,000 | 9,932,000 | 10,817,000 | 6,626,000 | |
total current assets | 282,250,000 | 324,647,000 | 299,951,000 | 316,264,000 | 120,708,000 | 142,130,000 | 161,555,000 | 178,470,000 | 130,597,000 | 149,868,000 | 171,807,000 | 54,115,000 | 72,358,000 | 96,417,000 | 43,002,000 | 76,835,000 | 106,891,000 | 159,602,000 | 197,170,000 | 207,302,000 | 239,629,000 | 257,879,000 | 279,238,000 |
property, plant and equipment | 6,450,000 | 6,736,000 | 6,805,000 | 6,957,000 | 7,236,000 | 7,485,000 | 7,613,000 | 10,513,000 | 10,686,000 | 10,826,000 | 11,169,000 | 14,139,000 | 14,642,000 | 14,963,000 | 63,954,000 | 61,011,000 | 55,120,000 | 50,610,000 | 40,553,000 | 33,867,000 | 2,497,000 | ||
operating lease right-of-use assets | 9,155,000 | 9,439,000 | 7,463,000 | 7,773,000 | 8,079,000 | 8,381,000 | 8,678,000 | 8,971,000 | 9,261,000 | 9,582,000 | 9,852,000 | 10,348,000 | 10,647,000 | 10,943,000 | |||||||||
other non-current assets | 181,000 | 183,000 | 184,000 | 186,000 | 188,000 | 217,000 | 220,000 | 288,000 | 304,000 | 304,000 | 304,000 | 304,000 | 1,316,000 | 1,316,000 | 1,245,000 | 1,206,000 | 673,000 | 440,000 | |||||
total assets | 300,351,000 | 343,320,000 | 316,554,000 | 333,331,000 | 138,362,000 | 160,364,000 | 180,217,000 | 200,393,000 | 152,999,000 | 172,731,000 | 195,769,000 | 81,543,000 | 101,600,000 | 126,276,000 | 111,468,000 | 142,332,000 | 165,976,000 | 213,956,000 | 241,042,000 | 241,860,000 | 242,829,000 | 258,881,000 | 279,266,000 |
liabilities and stockholders' equity | |||||||||||||||||||||||
current liabilities: | |||||||||||||||||||||||
accounts payable | 4,564,000 | 6,275,000 | 5,438,000 | 7,713,000 | 4,326,000 | 3,592,000 | 4,932,000 | 8,718,000 | 10,380,000 | 6,366,000 | 7,520,000 | 10,766,000 | 9,002,000 | 10,946,000 | 15,251,000 | 23,967,000 | 21,997,000 | 21,763,000 | 22,051,000 | 6,355,000 | 4,083,000 | 1,994,000 | 8,837,000 |
accrued expenses and other current liabilities | 15,534,000 | 20,277,000 | 17,708,000 | 12,151,000 | 10,761,000 | 12,862,000 | 12,608,000 | 11,875,000 | 13,562,000 | 12,284,000 | 13,638,000 | 19,632,000 | 16,602,000 | 18,287,000 | 17,888,000 | 18,986,000 | 26,620,000 | 29,983,000 | 21,163,000 | 22,036,000 | 14,875,000 | 5,135,000 | |
total current liabilities | 20,098,000 | 26,552,000 | 28,631,000 | 25,349,000 | 22,557,000 | 26,227,000 | 29,335,000 | 34,176,000 | 38,637,000 | 36,756,000 | 180,451,000 | 50,641,000 | 54,455,000 | 62,790,000 | 33,139,000 | 42,953,000 | 48,617,000 | 51,746,000 | 43,214,000 | 28,391,000 | 18,958,000 | 7,129,000 | 11,624,000 |
term loan | 48,961,000 | 50,106,000 | 50,852,000 | 41,051,000 | 42,453,000 | 43,942,000 | 42,971,000 | 37,835,000 | 40,512,000 | 40,508,000 | 38,548,000 | 38,354,000 | 38,161,000 | 37,967,000 | 37,773,000 | 37,580,000 | 37,386,000 | 37,192,000 | 27,812,000 | ||||
operating lease liability, net of current portion | 17,766,000 | 18,172,000 | 16,506,000 | 16,808,000 | 17,093,000 | 17,361,000 | 17,751,000 | 18,134,000 | 18,499,000 | 18,953,000 | 19,101,000 | 19,528,000 | 19,928,000 | 20,440,000 | |||||||||
other non-current liabilities | 1,582,000 | 1,552,000 | 1,576,000 | 1,396,000 | 1,200,000 | 1,309,000 | 1,363,000 | 1,380,000 | 1,502,000 | 1,577,000 | 3,832,000 | 3,922,000 | 4,004,000 | 4,130,000 | 3,934,000 | 3,480,000 | 3,496,000 | 3,735,000 | 3,015,000 | 765,000 | 999,000 | 450,000 | |
total liabilities | 88,407,000 | 96,382,000 | 97,565,000 | 84,604,000 | 83,303,000 | 88,839,000 | 91,420,000 | 91,525,000 | 99,150,000 | 97,794,000 | 244,883,000 | 118,657,000 | 116,548,000 | 125,327,000 | 100,342,000 | 109,622,000 | 115,251,000 | 118,573,000 | 100,648,000 | 55,365,000 | 19,957,000 | 7,579,000 | 11,624,000 |
commitments and contingencies - note 13 | |||||||||||||||||||||||
stockholders' equity | |||||||||||||||||||||||
preferred stock, 0.00001 par value per share... | |||||||||||||||||||||||
common stock, 0.00001 par value per share... | 3,000 | 3,000 | 3,000 | 3,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 1,000 | 1,000 | 1,000 | 1,000 | 1,000 | |||||||
additional paid-in capital | 964,666,000 | 958,427,000 | 903,578,000 | 900,139,000 | 681,177,000 | 677,859,000 | 674,643,000 | 664,457,000 | 591,166,000 | 587,942,000 | 511,632,000 | 406,546,000 | 404,114,000 | 402,389,000 | 357,065,000 | 352,342,000 | 336,485,000 | 331,032,000 | 325,657,000 | 320,571,000 | 316,022,000 | 312,428,000 | 310,450,000 |
accumulated other comprehensive income | 985,000 | 2,405,000 | |||||||||||||||||||||
accumulated deficit | -753,710,000 | -711,300,000 | -683,449,000 | -650,716,000 | -623,834,000 | -602,305,000 | -583,520,000 | -557,996,000 | -537,068,000 | -513,007,000 | -560,748,000 | -443,661,000 | -419,063,000 | -401,441,000 | -345,940,000 | -319,633,000 | -285,760,000 | -235,649,000 | -185,263,000 | -134,076,000 | -93,150,000 | -61,126,000 | -42,808,000 |
total stockholders’ equity | 211,944,000 | 246,938,000 | 218,989,000 | 248,727,000 | 55,059,000 | 71,525,000 | 88,797,000 | 108,868,000 | 53,849,000 | 74,937,000 | 949,000 | 11,126,000 | 32,710,000 | 50,725,000 | 95,383,000 | 140,394,000 | 186,495,000 | 222,872,000 | 251,302,000 | 267,642,000 | |||
total liabilities and stockholders' equity | 300,351,000 | 343,320,000 | 316,554,000 | 333,331,000 | 138,362,000 | 160,364,000 | 180,217,000 | 200,393,000 | 152,999,000 | 172,731,000 | 126,276,000 | 111,468,000 | 142,332,000 | 165,976,000 | 213,956,000 | 241,042,000 | 241,860,000 | 242,829,000 | 258,881,000 | 279,266,000 | |||
deferred revenue | 5,485,000 | 5,485,000 | 7,470,000 | 9,773,000 | 11,795,000 | 13,583,000 | 14,695,000 | 18,106,000 | 18,759,000 | 20,243,000 | 28,851,000 | 33,557,000 | |||||||||||
accumulated other comprehensive loss | -192,000 | -1,143,000 | -699,000 | -2,286,000 | -4,031,000 | -2,328,000 | -251,000 | ||||||||||||||||
assets held for sale | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | |||||||||||||||||||
liabilities and stockholders' (deficit) equity | |||||||||||||||||||||||
current liabilities | |||||||||||||||||||||||
warrant liability | 140,534,000 | ||||||||||||||||||||||
deferred revenue, net of current portion | 2,951,000 | 6,212,000 | |||||||||||||||||||||
stockholders' (deficit) equity | |||||||||||||||||||||||
total stockholders’ (deficit) equity | -49,114,000 | -37,114,000 | -14,948,000 | ||||||||||||||||||||
total liabilities and stockholders' (deficit) equity | 195,769,000 | 81,543,000 | 101,600,000 | ||||||||||||||||||||
revenue | 4,746,000 | 2,395,000 | 4,706,000 | ||||||||||||||||||||
operating expenses: | |||||||||||||||||||||||
research and development | 11,791,000 | 19,791,000 | 12,514,000 | ||||||||||||||||||||
general and administrative | 8,589,000 | 5,988,000 | 8,751,000 | ||||||||||||||||||||
impairment of long-lived assets | 616,000 | ||||||||||||||||||||||
total operating expenses | 20,996,000 | 25,779,000 | 21,265,000 | ||||||||||||||||||||
income from operations | -16,250,000 | -23,384,000 | -16,559,000 | ||||||||||||||||||||
other income: | |||||||||||||||||||||||
change in fair value of warrant liability | -100,456,000 | ||||||||||||||||||||||
interest income | 1,109,000 | 223,000 | 319,000 | ||||||||||||||||||||
interest expense | -1,471,000 | -1,440,000 | -1,374,000 | ||||||||||||||||||||
other income | -19,000 | 3,000 | -8,000 | ||||||||||||||||||||
total other income | -100,837,000 | -1,214,000 | -1,063,000 | ||||||||||||||||||||
net income | -117,087,000 | -24,598,000 | -17,622,000 | ||||||||||||||||||||
net income per common share, basic and diluted | -930 | -380 | -280 | ||||||||||||||||||||
weighted-average common shares outstanding, basic and diluted | 125,700,799,000 | 64,244,531,000 | 63,260,905,000 | ||||||||||||||||||||
commitments and contingencies - note 12 | |||||||||||||||||||||||
commitments and contingencies - note 11 | |||||||||||||||||||||||
build-to-suit lease liability | 25,496,000 | 25,609,000 | 25,752,000 | 25,900,000 | 26,607,000 | 26,209,000 | |||||||||||||||||
deferred lease asset | 630,000 | 643,000 | 655,000 | 667,000 | 691,000 | 691,000 | 703,000 | 715,000 | |||||||||||||||
commitments and contingencies - note 9 | |||||||||||||||||||||||
commitments and contingencies - note 10 | |||||||||||||||||||||||
deferred offering costs | 128,000 | ||||||||||||||||||||||
property and equipment | 287,000 | 28,000 | |||||||||||||||||||||
prepaid expenses | 604,000 | ||||||||||||||||||||||
accrued expenses | 2,727,000 | ||||||||||||||||||||||
due to related party | 60,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | ||||||||||||||||||||||
net loss | -42,410,000 | -27,851,000 | -32,733,000 | -26,882,000 | -21,529,000 | -18,785,000 | -25,524,000 | -20,928,000 | -24,061,000 | 47,741,000 | ||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||
depreciation expense | 295,000 | 299,000 | 286,000 | 277,000 | 283,000 | 304,000 | 294,000 | 322,000 | 325,000 | 366,000 | 331,000 | 343,000 | 331,000 | 364,000 | 277,000 | 274,000 | 257,000 | 209,000 | 166,000 | 85,000 | 32,000 | 6,000 |
stock-based compensation | 5,547,000 | 3,529,000 | 3,285,000 | 3,190,000 | 3,294,000 | 3,216,000 | 3,357,000 | 3,332,000 | 3,198,000 | 1,968,000 | 2,040,000 | 2,222,000 | 1,675,000 | 4,103,000 | 4,470,000 | 4,141,000 | 5,329,000 | 4,955,000 | 5,086,000 | 4,549,000 | 3,594,000 | 2,013,000 |
change in fair value of warrant liability | 736,000 | 292,000 | 273,000 | -102,000 | -83,000 | -75,000 | -195,000 | 337,000 | -65,738,000 | |||||||||||||
non-cash change in fair value of term loan | 32,000 | 205,000 | 186,000 | 185,000 | 256,000 | -732,000 | 403,000 | -21,000 | -247,000 | |||||||||||||
non-cash lease expense | 285,000 | 400,000 | 312,000 | 308,000 | 339,000 | 301,000 | 297,000 | 294,000 | 325,000 | 274,000 | 305,000 | 303,000 | 300,000 | |||||||||
other | 27,000 | 32,000 | 28,000 | 241,000 | -5,000 | 72,000 | 677,000 | -26,000 | 27,000 | 160,000 | 194,000 | 259,000 | 128,000 | 290,000 | 229,000 | 193,000 | 194,000 | 295,000 | -101,000 | |||
changes in operating assets and liabilities: | ||||||||||||||||||||||
prepaid expenses and other assets | -794,000 | -2,135,000 | 971,000 | 482,000 | -1,052,000 | 819,000 | -741,000 | 822,000 | -693,000 | 2,003,000 | 3,499,000 | 909,000 | -400,000 | 108,000 | 1,900,000 | -191,000 | 271,000 | -1,831,000 | 1,752,000 | 902,000 | -4,184,000 | |
accounts payable | 1,289,000 | -2,126,000 | -1,948,000 | 2,998,000 | 923,000 | -1,504,000 | -3,781,000 | -1,615,000 | 3,980,000 | -1,230,000 | -3,188,000 | 1,764,000 | 359,000 | -4,587,000 | -9,429,000 | 3,668,000 | 2,544,000 | -1,506,000 | 13,618,000 | 510,000 | 1,872,000 | -3,442,000 |
accrued expenses and other liabilities | -5,149,000 | 2,674,000 | 5,008,000 | 732,000 | -2,125,000 | 106,000 | 428,000 | -2,377,000 | 422,000 | -2,017,000 | -2,936,000 | -1,074,000 | -250,000 | -1,570,000 | 205,000 | -7,420,000 | -538,000 | 5,363,000 | -2,874,000 | 11,870,000 | 3,183,000 | |
deferred revenue | -5,485,000 | 0 | -1,986,000 | -2,302,000 | -2,022,000 | -1,788,000 | -1,112,000 | -3,411,000 | -3,604,000 | -4,746,000 | -2,395,000 | -4,706,000 | ||||||||||
net cash from operating activities | -40,878,000 | -26,722,000 | -24,166,000 | -20,182,000 | -22,020,000 | -18,308,000 | -21,615,000 | -21,504,000 | -19,798,000 | -16,117,000 | -17,949,000 | -18,767,000 | -20,185,000 | 14,277,000 | -28,655,000 | -33,208,000 | -40,804,000 | -40,258,000 | -31,933,000 | -22,816,000 | -22,035,000 | -19,848,000 |
capital expenditures | -24,000 | -250,000 | -108,000 | -2,000 | -378,000 | 2,000 | -35,000 | -201,000 | -140,000 | -17,000 | 0 | 48,000 | -3,900,000 | -2,309,000 | -2,020,000 | -7,863,000 | -8,427,000 | -8,270,000 | -3,502,000 | -2,998,000 | -534,000 | -51,000 |
free cash flows | -40,902,000 | -26,972,000 | -24,274,000 | -20,184,000 | -22,398,000 | -18,306,000 | -21,650,000 | -21,705,000 | -19,938,000 | -16,134,000 | -17,949,000 | -18,719,000 | -24,085,000 | 11,968,000 | -30,675,000 | -41,071,000 | -49,231,000 | -48,528,000 | -35,435,000 | -25,814,000 | -22,569,000 | -19,899,000 |
cash flows from investing activities | ||||||||||||||||||||||
purchase of research and development license | -3,000,000 | 0 | 0 | -1,000,000 | -250,000 | -3,000,000 | -250,000 | -500,000 | ||||||||||||||
purchase of property, plant and equipment | -24,000 | -250,000 | -108,000 | -2,000 | -378,000 | 2,000 | -35,000 | -201,000 | -140,000 | -17,000 | 0 | 48,000 | -3,900,000 | -2,309,000 | -2,020,000 | -7,863,000 | -8,427,000 | -8,270,000 | -3,502,000 | -2,998,000 | -534,000 | |
net cash from investing activities | -3,024,000 | -247,000 | -48,000 | 62,000 | -371,000 | 13,000 | -35,000 | -201,000 | -140,000 | -10,000 | -3,490,000 | 48,000 | -3,900,000 | -2,370,000 | -3,020,000 | -8,113,000 | -11,427,000 | -8,520,000 | -4,002,000 | -8,498,000 | -534,000 | -6,051,000 |
cash flows from financing activities | ||||||||||||||||||||||
payment of shelf registration costs | 14,000 | 0 | -47,000 | 0 | 0 | -387,000 | -39,000 | -92,000 | -76,000 | -151,000 | ||||||||||||
proceeds from common stock issuances under espp | 176,000 | 0 | 84,000 | 0 | 75,000 | 0 | 63,000 | 0 | 26,000 | 0 | 18,000 | 0 | 50,000 | 0 | ||||||||
proceeds from stock option exercises | 516,000 | 1,023,000 | ||||||||||||||||||||
net cash from financing activities | 711,000 | 49,556,000 | 8,797,000 | 216,288,000 | -52,000 | -357,000 | 6,595,000 | 70,468,000 | -22,000 | -4,248,000 | 140,634,000 | 377,000 | -370,000 | 41,667,000 | -258,000 | 10,930,000 | -242,000 | 9,105,000 | -1,482,000 | |||
net decrease in cash, cash equivalents and restricted cash | -43,191,000 | -22,443,000 | -19,960,000 | -18,342,000 | -24,455,000 | 53,574,000 | -31,933,000 | -30,391,000 | -52,473,000 | |||||||||||||
cash, cash equivalents and restricted cash at the beginning of the period | 322,531,000 | 0 | 0 | 0 | 141,636,000 | 0 | 0 | 0 | 146,540,000 | 0 | 0 | 0 | 90,517,000 | 0 | 0 | 0 | 151,740,000 | 0 | ||||
cash, cash equivalents and restricted cash at the end of the period | 279,340,000 | 22,587,000 | -15,417,000 | 196,168,000 | 119,193,000 | -18,652,000 | -15,055,000 | 48,763,000 | 126,580,000 | -20,375,000 | 119,195,000 | -18,342,000 | 66,062,000 | 53,574,000 | -31,933,000 | -30,391,000 | 99,267,000 | -39,673,000 | ||||
cash and cash equivalents | 276,576,000 | 22,423,000 | -15,417,000 | 196,168,000 | 116,593,000 | -18,652,000 | -15,055,000 | 48,763,000 | 123,980,000 | -20,338,000 | 119,195,000 | -18,342,000 | 63,425,000 | 53,574,000 | -31,933,000 | -30,391,000 | 96,630,000 | -39,682,000 | ||||
restricted cash | 2,764,000 | 164,000 | 0 | 0 | 2,600,000 | 0 | 0 | 0 | 2,600,000 | -37,000 | 0 | 0 | 2,637,000 | 0 | 0 | 0 | 2,637,000 | 9,000 | ||||
supplemental disclosure of cash flow information: | ||||||||||||||||||||||
cash paid for interest | 1,447,000 | 1,450,000 | 1,363,000 | 1,292,000 | 1,294,000 | 1,302,000 | 1,325,000 | 1,326,000 | 1,329,000 | 1,287,000 | 1,266,000 | 1,274,000 | 1,125,000 | 1,017,000 | 823,000 | 516,000 | 419,000 | 531,000 | 0 | |||
supplemental disclosure of noncash investing and financing activities: | ||||||||||||||||||||||
offering costs not yet paid | -386,000 | 388,000 | 23,000 | -314,000 | -85,000 | -405,000 | ||||||||||||||||
research and development license expense | 0 | 0 | 0 | 0 | 0 | 1,250,000 | 3,000,000 | 1,250,000 | 0 | 5,500,000 | 3,000,000 | |||||||||||
debt issuance costs expensed under the fair value option | 0 | |||||||||||||||||||||
impairment of long-lived assets | 0 | 449,000 | ||||||||||||||||||||
proceeds from issuance of common stock and pre-funded warrants from underwritten public offering, net of underwriting discounts and sales commissions and other offering costs | -70,000 | -454,000 | -360,000 | 6,659,000 | ||||||||||||||||||
proceeds from issuance of common stock pursuant to at-the-market offering, net of sales commissions and other offering costs | ||||||||||||||||||||||
prepayment of 2023 trinity term loan | 0 | |||||||||||||||||||||
proceeds from 2025 trinity term loan | 0 | |||||||||||||||||||||
proceeds from issuance of common stock upon exercise of warrants | ||||||||||||||||||||||
debt issuance costs for term loan | 0 | 0 | 0 | -18,000 | ||||||||||||||||||
net increase in cash, cash equivalents and restricted cash | 22,587,000 | -15,417,000 | -18,652,000 | -15,055,000 | -20,375,000 | -39,673,000 | ||||||||||||||||
proceeds allocated to success fee liability | 0 | |||||||||||||||||||||
right-of-use assets obtained in exchange for lease liabilities | ||||||||||||||||||||||
purchase of research and development license not yet paid | -250,000 | 1,250,000 | 2,750,000 | 5,500,000 | ||||||||||||||||||
non-cash impact of exercise of liability classified warrants | ||||||||||||||||||||||
property, plant and equipment in accounts payable and accrued expenses | 0 | 213,000 | 52,000 | 112,000 | 636,000 | 644,000 | -1,791,000 | 4,513,000 | 1,624,000 | 3,350,000 | 2,207,000 | 1,101,000 | ||||||||||
issuance costs for pre-funded warrant liability | 0 | |||||||||||||||||||||
non-cash loss on debt extinguishment | ||||||||||||||||||||||
repayment of svb term loan | ||||||||||||||||||||||
proceeds from trinity tern loan | ||||||||||||||||||||||
proceeds from issuance of common stock and pre-funded warrants from private placement, net of placement agent commissions and other offering costs | -423,000 | |||||||||||||||||||||
proceeds from issuance of common stock from private placement | ||||||||||||||||||||||
reclassification of warrants to additional paid-in capital | ||||||||||||||||||||||
allocation of proceeds to success fee liability | ||||||||||||||||||||||
recognition of asset retirement obligation | ||||||||||||||||||||||
issuance of warrants in connection with private placement | 0 | 0 | ||||||||||||||||||||
payment of offering costs | ||||||||||||||||||||||
research and development license not yet paid | ||||||||||||||||||||||
proceeds from trinity term loan | ||||||||||||||||||||||
proceeds from at-the-market offering, net of sales commissions and other offering costs | ||||||||||||||||||||||
proceeds from public offering of common stock, net of sales commissions and other offering costs | ||||||||||||||||||||||
proceeds from issuance of common stock to astellas, net of offering costs | ||||||||||||||||||||||
proceeds from issuance of common stock from private placement, net of sales commissions | 0 | |||||||||||||||||||||
proceeds from issuance of common stock, net of sales commissions | 0 | |||||||||||||||||||||
net income | -24,598,000 | -17,622,000 | -55,723,000 | -26,307,000 | -33,873,000 | -50,111,000 | -50,386,000 | -51,187,000 | -40,926,000 | -32,024,000 | -18,318,000 | |||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||
due to related party | 0 | 0 | 0 | -8,000 | ||||||||||||||||||
proceeds from term loan | 9,979,000 | |||||||||||||||||||||
acquisition of property, plant and equipment funded by landlord | 0 | 0 | -1,000 | 607,000 | ||||||||||||||||||
build-to-suit lease liability | -357,000 | 357,000 | ||||||||||||||||||||
deferred offering costs not yet paid | -69,000 | 88,000 | 21,000 | -63,000 | 128,000 | |||||||||||||||||
espp contributions | 44,000 | 277,000 | ||||||||||||||||||||
change in fair value of preferred stock tranche liability | 0 | |||||||||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commission and other offering costs | ||||||||||||||||||||||
proceeds from series a convertible preferred stock, net of issuance costs | ||||||||||||||||||||||
proceeds from series b convertible preferred stock, net of issuance costs | ||||||||||||||||||||||
proceeds from note payable to related party | ||||||||||||||||||||||
repayment of note payable to related party | ||||||||||||||||||||||
reclassification of preferred stock tranche liability | ||||||||||||||||||||||
allocation of preferred stock tranche liability | 0 | |||||||||||||||||||||
conversion of series a and series b convertible preferred stock to common stock | 0 | |||||||||||||||||||||
build-to-suit lease | ||||||||||||||||||||||
issuance costs for issuance of common stock in initial public offering not yet paid | ||||||||||||||||||||||
series a convertible preferred stock issuance costs not yet paid | ||||||||||||||||||||||
proceeds from issuances of series a convertible preferred stock | ||||||||||||||||||||||
payment of series a convertible preferred stock issuance costs | ||||||||||||||||||||||
net increase in cash and cash equivalents | -31,314,000 | -22,569,000 | -27,381,000 | |||||||||||||||||||
cash at the beginning of the period | 0 | 251,253,000 | ||||||||||||||||||||
cash at the end of the period | -31,314,000 | 228,684,000 | -27,381,000 | |||||||||||||||||||
series a issuance costs not yet paid | ||||||||||||||||||||||
purchase of research and development licenses | ||||||||||||||||||||||
purchase of property and equipment | -51,000 | |||||||||||||||||||||
proceeds from issuance of common stock in initial public offering, net of underwriting discounts and commission and other offering costs | -1,308,000 | |||||||||||||||||||||
proceeds from issuances of series a convertible preferred stock, net of issuance costs | -174,000 | |||||||||||||||||||||
proceeds from issuance of series b convertible preferred stock, net of issuance costs | 0 | |||||||||||||||||||||
proceeds from notes payable to related party | 0 | |||||||||||||||||||||
repayment of notes payable to related party | 0 | |||||||||||||||||||||
property and equipment in accounts payable and accrued expenses | ||||||||||||||||||||||
reclassification of preferred stock tranche liability upon share issuance | 0 | |||||||||||||||||||||
prepaid expenses | ||||||||||||||||||||||
accrued expenses | ||||||||||||||||||||||
issuance costs for issuances of common stock in initial public offering not yet paid | ||||||||||||||||||||||
issuance costs for issuance of series a convertible preferred stock not yet paid |