Verve Therapeutics(NASDAQ:VERV) 
Verve Therapeutics, Inc, a clinical stage genetic medicines company, engages in developing gene editing medicines for patients to treat cardiovascular diseases in the United States.
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At a glance:
Bull Thesis:
Bear Thesis:
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Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
collaboration revenue | 32,976,000 | 13,080,000 | 6,865,000 | 6,692,000 | 5,695,000 | 5,144,000 | 3,117,000 | 2,093,000 | 1,404,000 | 1,012,000 | 929,000 | |||||
operating expenses: | ||||||||||||||||
research and development | 54,458,000 | 55,048,000 | 49,938,000 | 50,984,000 | 48,376,000 | 46,811,000 | 43,765,000 | 47,260,000 | 47,110,000 | 37,284,000 | 35,197,000 | 33,125,000 | 24,490,000 | 25,939,000 | 17,495,000 | 13,423,000 |
general and administrative | 15,154,000 | 14,099,000 | 13,837,000 | 14,547,000 | 14,163,000 | 12,281,000 | 11,686,000 | 13,416,000 | 12,553,000 | 11,438,000 | 9,592,000 | 9,067,000 | 7,435,000 | 6,601,000 | 6,007,000 | 3,541,000 |
total operating expenses | 69,612,000 | 69,147,000 | 63,775,000 | 65,531,000 | 62,539,000 | 59,092,000 | 55,451,000 | 60,676,000 | 59,663,000 | 48,722,000 | 44,789,000 | 42,192,000 | 31,925,000 | 32,540,000 | 23,502,000 | 16,964,000 |
income from operations | -36,636,000 | -56,067,000 | -56,910,000 | -58,839,000 | -56,844,000 | -53,948,000 | -52,334,000 | -58,583,000 | -58,259,000 | -47,710,000 | -43,860,000 | -42,192,000 | -31,925,000 | -32,540,000 | -23,502,000 | -16,964,000 |
yoy | -35.55% | 3.93% | 8.74% | 0.44% | -2.43% | 13.07% | 19.32% | 38.85% | 82.49% | 46.62% | 86.62% | 148.71% | ||||
qoq | -34.66% | -1.48% | -3.28% | 3.51% | 5.37% | 3.08% | -10.67% | 0.56% | 22.11% | 8.78% | 3.95% | 32.16% | -1.89% | 38.46% | 38.54% | |
other income: | ||||||||||||||||
change in fair value of success payment liability | 223,000 | -205,000 | -6,000 | 1,671,000 | 78,000 | -713,000 | 802,000 | -662,000 | 738,000 | 2,177,000 | -3,306,000 | 938,000 | 1,677,000 | 1,139,000 | 700,000 | -10,036,000 |
interest and other income | 5,459,000 | 6,310,000 | 6,887,000 | 7,429,000 | 8,136,000 | 6,341,000 | 5,841,000 | 5,438,000 | 5,546,000 | 4,501,000 | 1,976,000 | 308,000 | 82,000 | |||
total other income | 5,682,000 | 6,105,000 | 6,881,000 | 9,100,000 | 8,214,000 | 5,628,000 | 6,643,000 | 4,776,000 | 6,284,000 | 6,678,000 | -1,330,000 | 1,246,000 | 1,759,000 | -8,612,500 | 753,000 | -36,001,000 |
income before provision for income taxes | -30,954,000 | -49,962,000 | -50,029,000 | -49,739,000 | -48,630,000 | -48,320,000 | -45,691,000 | -53,807,000 | ||||||||
provision for income taxes | -79,000 | -73,000 | -104,000 | -66,000 | -106,000 | -32,000 | -67,000 | -176,000 | ||||||||
net income | -31,033,000 | -50,035,000 | -50,133,000 | -49,805,000 | -48,736,000 | -48,352,000 | -45,758,000 | -53,983,000 | -51,975,000 | -41,085,000 | -45,190,000 | -40,946,000 | -30,166,000 | -31,337,000 | -22,749,000 | -52,965,000 |
yoy | -36.32% | 3.48% | 9.56% | -7.74% | -6.23% | 17.69% | 1.26% | 31.84% | 72.30% | 31.11% | 98.65% | -22.69% | ||||
qoq | -37.98% | -0.20% | 0.66% | 2.19% | 0.79% | 5.67% | -15.24% | 3.86% | 26.51% | -9.08% | 10.36% | 35.74% | -3.74% | 37.75% | -57.05% | |
net loss per common share, basic and diluted | -350 | -580 | -590 | -590 | -590 | -690 | -720 | -870 | -840 | |||||||
weighted-average common shares used in net loss per share, basic and diluted | 88,795,827 | 84,722,277 | 84,632,952 | 84,226,523 | 83,132,960 | 63,211,849 | 61,953,992 | 61,787,403 | ||||||||
comprehensive loss: | ||||||||||||||||
other comprehensive loss: | ||||||||||||||||
unrealized (loss) on marketable securities | -35 | |||||||||||||||
comprehensive loss | -31,068 | -50,750 | -48,375 | -49,920 | -49,508 | -198,950,381 | -45,601 | -54,500 | -51,518 | -40,859 | -45,172 | -41,152 | -30,670 | |||
unrealized gain on marketable securities | -715 | 1,758 | -772 | 965,903 | 157 | 457 | -226 | -5 | -4 | |||||||
unrealized loss on marketable securities | -115 | -517 | -206 | -504 | ||||||||||||
other comprehensive gain: | ||||||||||||||||
change in fair value of antidilution rights liability | -25,970,000 | |||||||||||||||
net loss per common share attributable to common stockholders, basic and diluted | -650 | -790 | -840 | -620 | 40 | -470 | -6,660 | |||||||||
weighted-average common shares used in net loss per share attributable to common stockholders, basic and diluted | 54,023,653 | 57,207,125 | 48,674,873 | 48,571,214 | 26,872,036 | 47,992,773 | 7,948,110 | |||||||||
other comprehensive income: | ||||||||||||||||
unrealized income on marketable securities | -173 | 18 | ||||||||||||||
change in fair value of preferred stock tranche liability | ||||||||||||||||
interest income and other income | 19,500 | 53,000 | 5,000 | |||||||||||||
comprehensive loss attributable to common stockholders | -22,246.75 | -22,754 | -52,969 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||
current assets: | ||||||||||||||||
cash and cash equivalents | 96,554,000 | 172,560,000 | 158,709,000 | 141,490,000 | 144,200,000 | 206,180,000 | 78,370,000 | 70,042,000 | 83,746,000 | 115,412,000 | 277,019,000 | 72,889,000 | 91,420,000 | 64,330,000 | 148,134,000 | 387,446,000 |
marketable securities | 400,523,000 | 351,721,000 | 381,211,000 | 434,458,000 | 462,167,000 | 417,770,000 | 406,856,000 | 392,434,000 | 424,941,000 | 439,396,000 | 273,691,000 | 220,672,000 | 231,879,000 | 296,112,000 | 241,076,000 | 30,178,000 |
collaboration receivable | 1,399,000 | 3,255,000 | 2,628,000 | 3,040,000 | 5,767,000 | 5,897,000 | 3,145,000 | 2,093,000 | 1,404,000 | 1,012,000 | 929,000 | |||||
prepaid expenses and other current assets | 13,174,000 | 15,215,000 | 13,911,000 | 11,899,000 | 8,192,000 | 8,102,000 | 9,890,000 | 8,497,000 | 7,696,000 | 7,339,000 | 9,991,000 | 5,083,000 | 5,531,000 | 6,686,000 | 5,227,000 | 1,940,000 |
total current assets | 511,650,000 | 542,751,000 | 556,459,000 | 590,887,000 | 620,326,000 | 637,949,000 | 498,261,000 | 473,066,000 | 517,787,000 | 563,159,000 | 561,630,000 | 298,644,000 | 328,830,000 | 367,128,000 | 394,437,000 | 419,564,000 |
property and equipment | 18,457,000 | 18,644,000 | 19,625,000 | 20,195,000 | 21,024,000 | 22,505,000 | 20,803,000 | 21,252,000 | 21,053,000 | 18,778,000 | 15,159,000 | 12,354,000 | 11,132,000 | 7,224,000 | 6,574,000 | 6,417,000 |
restricted cash | 4,774,000 | 4,774,000 | 4,774,000 | 4,774,000 | 4,774,000 | 4,774,000 | 4,774,000 | 4,824,000 | 4,824,000 | 4,824,000 | 4,824,000 | 5,237,000 | 5,237,000 | 5,237,000 | 5,237,000 | 463,000 |
operating lease right-of-use assets | 76,217,000 | 78,082,000 | 79,921,000 | 81,736,000 | 83,527,000 | 85,295,000 | 87,041,000 | 88,766,000 | 90,003,000 | 91,877,000 | 91,332,000 | 839,000 | 1,340,000 | 1,839,000 | 2,335,000 | |
other long term assets | 3,065,000 | 3,141,000 | 3,127,000 | 3,318,000 | 2,706,000 | 2,165,000 | 1,528,000 | 1,223,000 | 585,000 | 7,193,000 | 2,702,000 | 2,696,000 | 2,294,000 | 74,000 | ||
total assets | 614,163,000 | 647,392,000 | 663,906,000 | 700,910,000 | 732,357,000 | 752,688,000 | 612,407,000 | 589,131,000 | 634,376,000 | 679,223,000 | 673,355,000 | 324,267,000 | 349,241,000 | 384,124,000 | 410,877,000 | 426,518,000 |
liabilities and stockholders’ equity | ||||||||||||||||
current liabilities: | ||||||||||||||||
accounts payable | 5,352,000 | 4,520,000 | 4,637,000 | 6,833,000 | 3,049,000 | 6,636,000 | 1,054,000 | 3,146,000 | 3,372,000 | 2,424,000 | 465,000 | 6,320,000 | 2,438,000 | 7,077,000 | 3,579,000 | 1,530,000 |
accrued expenses | 17,053,000 | 24,342,000 | 21,918,000 | 19,762,000 | 16,552,000 | 20,178,000 | 23,403,000 | 19,839,000 | 18,996,000 | 20,767,000 | 19,649,000 | 18,620,000 | 10,933,000 | 12,992,000 | 8,127,000 | 6,967,000 |
deferred revenue, current | 19,060,000 | 3,605,000 | 5,719,000 | 3,479,000 | 1,473,000 | |||||||||||
lease liability, current portion | 10,516,000 | 10,220,000 | 10,192,000 | 10,118,000 | 10,046,000 | 11,184,000 | 11,904,000 | 8,904,000 | ||||||||
total current liabilities | 51,981,000 | 42,909,000 | 42,642,000 | 40,367,000 | 31,294,000 | 37,006,000 | 34,575,000 | 33,031,000 | 33,552,000 | 35,095,000 | 29,018,000 | 25,847,000 | 14,803,000 | 22,024,000 | 20,251,000 | 8,649,000 |
long term lease liability | 58,120,000 | 59,541,000 | 60,887,000 | 62,183,000 | 63,454,000 | 64,715,000 | 66,689,000 | 67,819,000 | ||||||||
success payment liability | 959,000 | 1,182,000 | 977,000 | 971,000 | 2,642,000 | 2,720,000 | 2,007,000 | 2,809,000 | 2,147,000 | 2,885,000 | 5,062,000 | 1,756,000 | 2,694,000 | 4,371,000 | 12,460,000 | |
deferred revenue, non-current | 29,520,000 | 50,265,000 | 50,731,000 | 51,153,000 | 51,733,000 | 48,556,000 | 48,554,000 | 20,014,000 | 20,014,000 | 20,014,000 | 20,014,000 | |||||
other long term liabilities | 70,000 | 95,000 | 118,000 | 142,000 | 165,000 | 189,000 | 213,000 | 236,000 | 283,000 | 331,000 | 354,000 | 377,000 | ||||
total liabilities | 140,650,000 | 153,992,000 | 155,355,000 | 154,816,000 | 149,288,000 | 153,186,000 | 152,038,000 | 123,909,000 | 124,900,000 | 128,291,000 | 125,412,000 | 27,934,000 | 17,851,000 | 26,772,000 | 25,942,000 | 21,122,000 |
commitments and contingencies | ||||||||||||||||
stockholders’ equity: | ||||||||||||||||
preferred stock, 0.001 par value... | ||||||||||||||||
common stock, 0.001 par value... | 89,000 | 89,000 | 85,000 | 85,000 | 84,000 | 82,000 | 64,000 | 62,000 | 62,000 | 62,000 | 61,000 | 49,000 | 49,000 | 49,000 | 48,000 | 48,000 |
additional paid-in capital | 1,247,078,000 | 1,235,897,000 | 1,200,302,000 | 1,189,470,000 | 1,176,526,000 | 1,143,453,000 | 956,855,000 | 916,109,000 | 905,863,000 | 895,801,000 | 851,954,000 | 555,184,000 | 549,089,000 | 544,381,000 | 540,402,000 | 538,109,000 |
accumulated other comprehensive income | 393,000 | 428,000 | 1,143,000 | -615,000 | -500,000 | 272,000 | -228,000 | -2,000 | 3,000 | |||||||
accumulated deficit | -774,047,000 | -743,014,000 | -692,979,000 | -642,846,000 | -593,041,000 | -544,305,000 | -495,953,000 | -450,195,000 | -396,212,000 | -344,237,000 | -303,152,000 | -257,962,000 | -217,016,000 | -186,850,000 | -155,513,000 | -132,764,000 |
total stockholders’ equity | 473,513,000 | 493,400,000 | 508,551,000 | 546,094,000 | 583,069,000 | 599,502,000 | 460,369,000 | 465,222,000 | 509,476,000 | 550,932,000 | 547,943,000 | 296,333,000 | 331,390,000 | 357,352,000 | 384,935,000 | 405,396,000 |
total liabilities and stockholders’ equity | 614,163,000 | 647,392,000 | 663,906,000 | 700,910,000 | 732,357,000 | 752,688,000 | 612,407,000 | 589,131,000 | 634,376,000 | 673,355,000 | 324,267,000 | 349,241,000 | ||||
lease liability, current | 10,442,000 | 10,368,000 | 10,293,000 | |||||||||||||
accumulated other comprehensive loss | -597,000 | -754,000 | -237,000 | -694,000 | -920,000 | -938,000 | -732,000 | |||||||||
other long-term assets | 709,000 | 410,000 | ||||||||||||||
long-term lease liability | 68,927,000 | 70,014,000 | 71,011,000 | |||||||||||||
other long-term liabilities | 260,000 | 307,000 | ||||||||||||||
liabilities, and stockholders’ equity | ||||||||||||||||
total liabilities, and stockholders’ equity | 679,223,000 | |||||||||||||||
operating lease obligations, current portion | 907,000 | 1,432,000 | 1,955,000 | 2,295,000 | ||||||||||||
liabilities, convertible preferred stock, and stockholders’ equity | ||||||||||||||||
deferred rent, current portion | 152,000 | |||||||||||||||
deferred rent, net of current portion | 13,000 | |||||||||||||||
antidilution rights liability | ||||||||||||||||
convertible preferred stock | ||||||||||||||||
stockholders’ equity | ||||||||||||||||
total liabilities, convertible preferred stock, and stockholders’ equity | 384,124,000 | 410,877,000 | 426,518,000 | |||||||||||||
success payment liability, current portion | 6,250,000 | |||||||||||||||
operating lease obligations, net of current portion | 181,000 | |||||||||||||||
success payment liability, net of current portion | 5,510,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||
net loss | -31,033,000 | -50,035,000 | -50,133,000 | -49,805,000 | -48,736,000 | -48,352,000 | -45,758,000 | -53,983,000 | -51,975,000 | -41,085,000 | -45,190,000 | -40,946,000 | -30,166,000 | -31,337,000 | -22,749,000 |
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||
depreciation | 1,716,000 | 1,700,000 | 1,754,000 | 1,667,000 | 1,632,000 | 1,517,000 | 1,474,000 | 1,337,000 | 1,127,000 | 925,000 | 717,000 | 648,000 | 514,000 | 472,000 | 412,000 |
non-cash lease expense | 1,865,000 | 1,839,000 | 1,815,000 | 1,791,000 | 1,768,000 | 1,746,000 | 1,725,000 | 1,689,000 | 1,632,000 | 1,628,000 | 1,280,000 | 500,000 | 499,000 | 497,000 | |
net accretion of discount on marketable securities | -1,893,000 | -2,155,000 | -2,745,000 | ||||||||||||
stock-based compensation | 11,174,000 | 10,449,000 | 10,818,000 | 11,647,000 | 10,341,000 | 9,254,000 | 8,825,000 | 9,013,000 | 8,024,000 | 6,704,000 | 5,920,000 | 5,650,000 | 4,203,000 | 2,758,000 | 2,293,000 |
change in fair value of success payments liabilities | -223,000 | 205,000 | 6,000 | -1,671,000 | -78,000 | 713,000 | -802,000 | 662,000 | -738,000 | -2,177,000 | 3,306,000 | -938,000 | -1,677,000 | -1,139,000 | -700,000 |
changes in operating assets and liabilities: | |||||||||||||||
collaboration receivable | 1,856,000 | -626,000 | 410,000 | 2,686,000 | 168,000 | -2,775,000 | -83,000 | ||||||||
prepaid expenses and other assets | 2,117,000 | -1,819,000 | -4,274,000 | -672,000 | 368,000 | -2,006,000 | -949,000 | -6,474,000 | -4,043,000 | 1,149,000 | -5,508,000 | ||||
accounts payable | 729,000 | 491,000 | -2,568,000 | 3,553,000 | -3,306,000 | 4,499,000 | -2,060,000 | -14,000 | 1,485,000 | 1,195,000 | -5,394,000 | 4,088,000 | -5,105,000 | 3,485,000 | 2,061,000 |
accrued expenses and other liabilities | -7,515,000 | 2,460,000 | 2,257,000 | 3,559,000 | -3,649,000 | -3,227,000 | 3,545,000 | 1,734,000 | -2,283,000 | 2,380,000 | -515,000 | 8,307,000 | -3,131,000 | 5,113,000 | 2,448,000 |
operating lease liabilities | -1,348,000 | -1,272,000 | -1,221,000 | -1,198,000 | -1,234,000 | -1,900,000 | -1,058,000 | -2,698,000 | -1,564,000 | -170,000 | -1,793,000 | -525,000 | -523,000 | -521,000 | |
deferred revenue | -5,290,000 | -2,581,000 | 1,819,000 | 1,425,000 | 4,651,000 | 2,000 | 0 | ||||||||
net cash from operating activities | -27,845,000 | -40,845,000 | -39,607,000 | -34,158,000 | -43,082,000 | -40,680,000 | -11,811,000 | -47,962,000 | -49,096,000 | -32,892,000 | -29,175,000 | -26,758,000 | -33,507,000 | -28,043,000 | -21,355,000 |
capital expenditures | -1,224,000 | -1,387,000 | -936,000 | -980,000 | -433,000 | -2,185,000 | -1,061,000 | -2,662,000 | -3,375,000 | -4,968,000 | -2,637,000 | -2,719,000 | -2,908,000 | -981,000 | -1,002,000 |
free cash flows | -29,069,000 | -42,232,000 | -40,543,000 | -35,138,000 | -43,515,000 | -42,865,000 | -12,872,000 | -50,624,000 | -52,471,000 | -37,860,000 | -31,812,000 | -29,477,000 | -36,415,000 | -29,024,000 | -22,357,000 |
cash flows from investing activities: | |||||||||||||||
purchases of property and equipment | -1,224,000 | -1,387,000 | -936,000 | -980,000 | -433,000 | -2,185,000 | -1,061,000 | -2,662,000 | -3,375,000 | -4,968,000 | -2,637,000 | -2,719,000 | -2,908,000 | -981,000 | -1,002,000 |
purchases of marketable securities | -144,817,000 | -73,067,000 | -74,830,000 | -111,908,000 | -164,190,000 | -122,323,000 | -147,940,000 | -113,122,000 | -133,755,000 | -257,323,000 | -147,829,000 | -137,004,000 | -223,314,000 | ||
maturities of marketable securities | 97,873,000 | 104,000,000 | 132,578,000 | 143,038,000 | 122,991,000 | 115,615,000 | 137,167,000 | 148,809,000 | 152,522,000 | 93,978,000 | 94,950,000 | 84,750,000 | 63,000,000 | 81,000,000 | 12,000,000 |
net cash from investing activities | -48,168,000 | 29,546,000 | 56,812,000 | 30,150,000 | -41,632,000 | -8,893,000 | -11,834,000 | 33,025,000 | 15,392,000 | -168,313,000 | -55,516,000 | 7,782,000 | 60,092,000 | -56,985,000 | -212,316,000 |
cash flows from financing activities: | |||||||||||||||
proceeds from issuance of common stock, net of issuance costs | 24,301,000 | 0 | -51,000 | 22,484,000 | -65,000 | 1,987,000 | |||||||||
proceeds from exercise of stock options | 7,000 | 119,000 | 14,000 | 826,000 | 301,000 | 323,000 | 213,000 | 548,000 | 116,000 | 442,000 | 1,108,000 | 120,000 | 505,000 | 442,000 | 0 |
payment of equity offering costs | -51,000 | -393,000 | -178,000 | ||||||||||||
net cash from financing activities | 7,000 | 25,150,000 | 14,000 | 1,298,000 | 22,734,000 | 177,383,000 | 31,923,000 | 1,233,000 | 2,038,000 | 39,598,000 | 288,408,000 | 445,000 | 505,000 | 1,224,000 | -867,000 |
decrease in cash, cash equivalents and restricted cash | -76,006,000 | 17,219,000 | -2,710,000 | -61,980,000 | |||||||||||
cash, cash equivalents and restricted cash—beginning of period | 177,334,000 | 0 | 0 | 0 | 210,954,000 | 0 | 0 | 0 | 120,236,000 | 0 | 0 | 0 | 69,567,000 | 0 | 0 |
cash, cash equivalents and restricted cash—end of period | 101,328,000 | 13,851,000 | 17,219,000 | -2,710,000 | 148,974,000 | 127,810,000 | 8,278,000 | -13,704,000 | 88,570,000 | -161,607,000 | 203,717,000 | -18,531,000 | 96,657,000 | -83,804,000 | -234,538,000 |
supplemental disclosure of noncash investing and financing activities: | |||||||||||||||
property and equipment additions included in accounts payable and accrued expenses | 396,000 | -667,000 | 246,000 | -34,000 | 545,000 | 1,039,000 | -37,000 | -1,125,000 | 1,657,000 | -319,000 | 856,000 | -848,000 | 2,017,000 | 142,000 | -433,000 |
prepaid expenses and other current assets | |||||||||||||||
cash flows from financing activities | |||||||||||||||
proceeds from the issuance of common stock in connection with collaboration agreements | 0 | ||||||||||||||
issuance of common stock under employee stock purchase plan | 796,000 | 0 | 0 | ||||||||||||
increase in cash, cash equivalents and restricted cash | 127,810,000 | 8,278,000 | -13,704,000 | -31,666,000 | -161,607,000 | 203,717,000 | -18,531,000 | 27,090,000 | -83,804,000 | -234,538,000 | |||||
financing costs included in accounts payable and accrued expenses | |||||||||||||||
right-of-use assets obtained in exchange for new operating lease liabilities | 2,173,000 | 0 | |||||||||||||
net amortization of premium (accretion of discount) on marketable securities | -3,967,000 | -3,338,000 | -3,493,000 | -3,696,000 | -3,855,000 | ||||||||||
change in fair value of antidilution rights | 0 | 0 | |||||||||||||
success payment liability | |||||||||||||||
proceeds from issuance of preferred stock | 0 | 0 | |||||||||||||
proceeds from purchase of shares through employee stock purchase plan | |||||||||||||||
conversion of convertible preferred stock to common stock upon closing of initial public offering | 0 | 0 | |||||||||||||
settlement of derivative liability by issuing common stock | |||||||||||||||
proceeds from issuance of common stock, net of commissions | |||||||||||||||
offering costs included in accounts payable and accrued liabilities | |||||||||||||||
payment of financing costs | -65,000 | ||||||||||||||
change in fair value of preferred stock tranche liabilities | |||||||||||||||
deferred rent liability | |||||||||||||||
proceeds from the issuance of common stock in connection with the vertex agreement | 0 | ||||||||||||||
settlement of tranche right liability | |||||||||||||||
amortization of premium on marketable securities | -117,000 | 501,000 | 730,000 | 740,000 | 412,000 | ||||||||||
proceeds from initial public offering, net of underwriting discount | 0 | 0 | |||||||||||||
proceeds from issuance of common shares, net of commissions | |||||||||||||||
issuance of shares through employee stock purchase plan | 0 | ||||||||||||||
settlement of antidilution rights liability by issuing common stock | 0 | ||||||||||||||
proceeds from issuance of series b convertible preferred stock | |||||||||||||||
payment of initial public offering costs | 2,000 | -867,000 | |||||||||||||
initial public offering costs included in accounts payable and accrued liabilities | |||||||||||||||
non-cash research and development license expense | |||||||||||||||
shareholder loan given | |||||||||||||||
payments received on shareholder loan | |||||||||||||||
issuance of preferred stock tranche liability |