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Selected Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2022
Selected Quarterly Financial Information [Abstract] |
Selected Quarterly Financial Data (Unaudited) | 17. Selected Quarterly Financial Data (Unaudited) The following tables present selected quarterly financial data for each of the periods presented (in thousands, except share and per share data):
|  | March 31, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Balance Sheets |  |  |  |  |  |  |  |  |
Deferred revenue, current portion |  | $ | 70,013 |  |  | $ | (15,364 | ) |  | $ | 54,649 |
Total current liabilities |  |  | 102,766 |  |  |  | (15,364 | ) |  |  | 87,402 |
Deferred revenue, net of current portion |  |  | 108,788 |  |  |  | 113,297 |  |  |  | 222,085 |
Total liabilities |  |  | 228,631 |  |  |  | 97,933 |  |  |  | 326,564 |
Accumulated deficit |  |  | (557,609 | ) |  |  | (97,933 | ) |  |  | (655,542 | )
Total stockholders' equity (deficit) |  |  | 68,194 |  |  |  | (97,933 | ) |  |  | (29,739 | )
Total liabilities and stockholders' equity (deficit) |  |  | 296,825 |  |  |  | - |  |  |  | 296,825 |
|  | Three Months Ended March 31, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Revenue |  |  |  |  |  |  |  |  |
AbbVie |  | $ | 2,427 |  |  | $ | (676 | ) |  | $ | 1,751 |
Amgen |  |  | 2,288 |  |  |  | (51 | ) |  |  | 2,237 |
Astellas |  |  | 5,016 |  |  |  | (250 | ) |  |  | 4,766 |
BMS |  |  | 7,405 |  |  |  | (7,119 | ) |  |  | 286 |
Total revenue |  | $ | 17,136 |  |  | $ | (8,096 | ) |  | $ | 9,040 |
|  | Three Months Ended March 31, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Statements of Operations |  |  |  |  |  |  |  |  |
Revenue |  | $ | 17,136 |  |  | $ | (8,096 | ) |  | $ | 9,040 |
Operating expenses: |  |  |  |  |  |  |  |  |
Research and development |  |  | 30,559 |  |  |  | - |  |  |  | 30,559 |
General and administrative |  |  | 10,543 |  |  |  | - |  |  |  | 10,543 |
Total operating expenses |  |  | 41,102 |  |  |  | - |  |  |  | 41,102 |
Loss from operations |  |  | (23,966 | ) |  |  | (8,096 | ) |  |  | (32,062 | )
Interest income |  |  | 68 |  |  |  | - |  |  |  | 68 |
Other income (expense) |  |  | 13 |  |  |  | - |  |  |  | 13 |
Loss before income taxes |  |  | (23,885 | ) |  |  | (8,096 | ) |  |  | (31,981 | )
Loss/(Benefit) from income taxes |  |  | - |  |  |  | - |  |  |  | - |
Net loss |  |  | (23,885 | ) |  |  | (8,096 | ) |  |  | (31,981 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Unrealized gain / (loss) on investments, net of tax |  |  | (677 | ) |  |  | - |  |  |  | (677 | )
Comprehensive income (loss) |  | $ | (24,562 | ) |  | $ | (8,096 | ) |  | $ | (32,658 | )
Net loss per share, basic and diluted |  | $ | (0.37 | ) |  |  |  |  | $ | (0.49 | )
Shares used to compute net loss per share, basic and diluted |  |  | 65,393,691 |  |  |  |  |  |  | 65,393,691 |
|  | Three Months Ended March 31, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Statements of Cash Flow |  |  |  |  |  |  |  |  |
Net loss |  | $ | (23,885 | ) |  | $ | (8,096 | ) |  | $ | (31,981 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |
Deferred revenue |  |  | (16,121 | ) |  |  | 8,096 |  |  |  | (8,025 | )
Net cash used in operating activities |  |  | (41,313 | ) |  |  | - |  |  |  | (41,313 | )
|  | June 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Balance Sheets |  |  |  |  |  |  |  |  |
Deferred revenue, current portion |  | $ | 65,787 |  |  | $ | (4,799 | ) |  | $ | 60,988 |
Total current liabilities |  |  | 99,439 |  |  |  | (4,799 | ) |  |  | 94,640 |
Deferred revenue, net of current portion |  |  | 95,863 |  |  |  | 108,044 |  |  |  | 203,907 |
Total liabilities |  |  | 211,378 |  |  |  | 103,245 |  |  |  | 314,623 |
Accumulated deficit |  |  | (581,793 | ) |  |  | (103,245 | ) |  |  | (685,038 | )
Total stockholders' equity (deficit) |  |  | 48,708 |  |  |  | (103,245 | ) |  |  | (54,537 | )
Total liabilities and stockholders' equity (deficit) |  |  | 260,086 |  |  |  | - |  |  |  | 260,086 |
|  | Three Months Ended June 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Revenue |  |  |  |  |  |  |  |  |
AbbVie |  | $ | 5,377 |  |  | $ | 1,398 |  |  | $ | 6,775 |
Amgen |  |  | 369 |  |  |  | (12 | ) |  |  | 357 |
Astellas |  |  | 5,014 |  |  |  | (357 | ) |  |  | 4,657 |
BMS |  |  | 7,405 |  |  |  | (6,341 | ) |  |  | 1,064 |
Total revenue |  | $ | 18,165 |  |  | $ | (5,312 | ) |  | $ | 12,853 |
|  | Three Months Ended June 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Statements of Operations |  |  |  |  |  |  |  |  |
Revenue |  | $ | 18,165 |  |  | $ | (5,312 | ) |  | $ | 12,853 |
Operating expenses: |  |  |  |  |  |  |  |  |
Research and development |  |  | 31,159 |  |  |  | - |  |  |  | 31,159 |
General and administrative |  |  | 11,748 |  |  |  | - |  |  |  | 11,748 |
Total operating expenses |  |  | 42,907 |  |  |  | - |  |  |  | 42,907 |
Loss from operations |  |  | (24,742 | ) |  |  | (5,312 | ) |  |  | (30,054 | )
Interest income |  |  | 262 |  |  |  | - |  |  |  | 262 |
Other income (expense) |  |  | 296 |  |  |  | - |  |  |  | 296 |
Loss before income taxes |  |  | (24,184 | ) |  |  | (5,312 | ) |  |  | (29,496 | )
Loss/(Benefit) from income taxes |  |  | - |  |  |  | - |  |  |  | - |
Net loss |  |  | (24,184 | ) |  |  | (5,312 | ) |  |  | (29,496 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Unrealized gain / (loss) on investments, net of tax |  |  | (243 | ) |  |  | - |  |  |  | (243 | )
Comprehensive income (loss) |  | $ | (24,427 | ) |  | $ | (5,312 | ) |  | $ | (29,739 | )
Net loss per share, basic and diluted |  | $ | (0.37 | ) |  |  |  |  | $ | (0.45 | )
Shares used to compute net loss per share, basic and diluted |  |  | 65,542,762 |  |  |  |  |  |  | 65,542,762 |
|  | Six Months Ended June 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Revenue |  |  |  |  |  |  |  |  |
AbbVie |  | $ | 7,804 |  |  | $ | 722 |  |  | $ | 8,526 |
Amgen |  |  | 2,657 |  |  |  | (63 | ) |  |  | 2,594 |
Astellas |  |  | 10,030 |  |  |  | (607 | ) |  |  | 9,423 |
BMS |  |  | 14,810 |  |  |  | (13,460 | ) |  |  | 1,350 |
Total revenue |  | $ | 35,301 |  |  | $ | (13,408 | ) |  | $ | 21,893 |
|  | Six Months Ended June 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Statements of Operations |  |  |  |  |  |  |  |  |
Revenue |  | $ | 35,301 |  |  | $ | (13,408 | ) |  | $ | 21,893 |
Operating expenses: |  |  |  |  |  |  |  |  |
Research and development |  |  | 61,718 |  |  |  | - |  |  |  | 61,718 |
General and administrative |  |  | 22,291 |  |  |  | - |  |  |  | 22,291 |
Total operating expenses |  |  | 84,009 |  |  |  | - |  |  |  | 84,009 |
Loss from operations |  |  | (48,708 | ) |  |  | (13,408 | ) |  |  | (62,116 | )
Interest income |  |  | 330 |  |  |  | - |  |  |  | 330 |
Other income (expense) |  |  | 309 |  |  |  | - |  |  |  | 309 |
Loss before income taxes |  |  | (48,069 | ) |  |  | (13,408 | ) |  |  | (61,477 | )
Loss/(Benefit) from income taxes |  |  | - |  |  |  | - |  |  |  | - |
Net loss |  |  | (48,069 | ) |  |  | (13,408 | ) |  |  | (61,477 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Unrealized gain / (loss) on investments, net of tax |  |  | (920 | ) |  |  | - |  |  |  | (920 | )
Comprehensive income (loss) |  | $ | (48,989 | ) |  | $ | (13,408 | ) |  | $ | (62,397 | )
Net loss per share, basic and diluted |  | $ | (0.73 | ) |  |  |  |  | $ | (0.94 | )
Shares used to compute net loss per share, basic and diluted |  |  | 65,468,638 |  |  |  |  |  |  | 65,468,638 |
|  | Six Months Ended June 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Statements of Cash Flow |  |  |  |  |  |  |  |  |
Net loss |  | $ | (48,069 | ) |  | $ | (13,408 | ) |  | $ | (61,477 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |
Deferred revenue |  |  | (33,272 | ) |  |  | 13,408 |  |  |  | (19,864 | )
Net cash used in operating activities |  |  | (75,550 | ) |  |  | - |  |  |  | (75,550 | )
|  | September 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Balance Sheets |  |  |  |  |  |  |  |  |
Deferred revenue, current portion |  | $ | 61,325 |  |  | $ | 25,801 |  |  | $ | 87,126 |
Total current liabilities |  |  | 97,841 |  |  |  | 25,801 |  |  |  | 123,642 |
Deferred revenue, net of current portion |  |  | 85,122 |  |  |  | 83,212 |  |  |  | 168,334 |
Total liabilities |  |  | 198,018 |  |  |  | 109,013 |  |  |  | 307,031 |
Accumulated deficit |  |  | (605,089 | ) |  |  | (109,013 | ) |  |  | (714,102 | )
Total stockholders' equity (deficit) |  |  | 28,474 |  |  |  | (109,013 | ) |  |  | (80,539 | )
Total liabilities and stockholders' equity (deficit) |  |  | 226,492 |  |  |  | - |  |  |  | 226,492 |
|  | Three Months Ended September 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Revenue |  |  |  |  |  |  |  |  |
AbbVie |  | $ | 3,449 |  |  | $ | (477 | ) |  | $ | 2,972 |
Amgen |  |  | 349 |  |  |  | (12 | ) |  |  | 337 |
Astellas |  |  | 5,712 |  |  |  | 168 |  |  |  | 5,880 |
BMS |  |  | 7,405 |  |  |  | (5,447 | ) |  |  | 1,958 |
Total revenue |  | $ | 16,915 |  |  | $ | (5,768 | ) |  | $ | 11,147 |
|  | Three Months Ended September 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Statements of Operations |  |  |  |  |  |  |  |  |
Revenue |  | $ | 16,915 |  |  | $ | (5,768 | ) |  | $ | 11,147 |
Operating expenses: |  |  |  |  |  |  |  |  |
Research and development |  |  | 30,367 |  |  |  | - |  |  |  | 30,367 |
General and administrative |  |  | 10,490 |  |  |  | - |  |  |  | 10,490 |
Total operating expenses |  |  | 40,857 |  |  |  | - |  |  |  | 40,857 |
Loss from operations |  |  | (23,942 | ) |  |  | (5,768 | ) |  |  | (29,710 | )
Interest income |  |  | 616 |  |  |  | - |  |  |  | 616 |
Other income (expense) |  |  | 30 |  |  |  | - |  |  |  | 30 |
Loss before income taxes |  |  | (23,296 | ) |  |  | (5,768 | ) |  |  | (29,064 | )
Loss/(Benefit) from income taxes |  |  | - |  |  |  | - |  |  |  | - |
Net loss |  |  | (23,296 | ) |  |  | (5,768 | ) |  |  | (29,064 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Unrealized gain / (loss) on investments, net of tax |  |  | 367 |  |  |  | - |  |  |  | 367 |
Comprehensive income (loss) |  | $ | (22,929 | ) |  | $ | (5,768 | ) |  | $ | (28,697 | )
Net loss per share, basic and diluted |  | $ | (0.35 | ) |  |  |  |  | $ | (0.44 | )
Shares used to compute net loss per share, basic and diluted |  |  | 65,912,334 |  |  |  |  |  |  | 65,912,334 |
|  | Nine Months Ended September 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Revenue |  |  |  |  |  |  |  |  |
AbbVie |  | $ | 11,253 |  |  | $ | 245 |  |  | $ | 11,498 |
Amgen |  |  | 3,006 |  |  |  | (75 | ) |  |  | 2,931 |
Astellas |  |  | 15,742 |  |  |  | (439 | ) |  |  | 15,303 |
BMS |  |  | 22,215 |  |  |  | (18,907 | ) |  |  | 3,308 |
Total revenue |  | $ | 52,216 |  |  | $ | (19,176 | ) |  | $ | 33,040 |
|  | Nine Months Ended September 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Statements of Operations |  |  |  |  |  |  |  |  |
Revenue |  | $ | 52,216 |  |  | $ | (19,176 | ) |  | $ | 33,040 |
Operating expenses: |  |  |  |  |  |  |  |  |
Research and development |  |  | 92,085 |  |  |  | - |  |  |  | 92,085 |
General and administrative |  |  | 32,781 |  |  |  | - |  |  |  | 32,781 |
Total operating expenses |  |  | 124,866 |  |  |  | - |  |  |  | 124,866 |
Loss from operations |  |  | (72,650 | ) |  |  | (19,176 | ) |  |  | (91,826 | )
Interest income |  |  | 946 |  |  |  | - |  |  |  | 946 |
Other income (expense) |  |  | 339 |  |  |  | - |  |  |  | 339 |
Loss before income taxes |  |  | (71,365 | ) |  |  | (19,176 | ) |  |  | (90,541 | )
Loss/(Benefit) from income taxes |  |  | - |  |  |  | - |  |  |  | - |
Net loss |  |  | (71,365 | ) |  |  | (19,176 | ) |  |  | (90,541 | )
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |
Unrealized gain / (loss) on investments, net of tax |  |  | (553 | ) |  |  | - |  |  |  | (553 | )
Comprehensive income (loss) |  | $ | (71,918 | ) |  | $ | (19,176 | ) |  | $ | (91,094 | )
Net loss per share, basic and diluted |  | $ | (1.09 | ) |  |  |  |  | $ | (1.38 | )
Shares used to compute net loss per share, basic and diluted |  |  | 65,618,162 |  |  |  |  |  |  | 65,618,162 |
|  | Nine Months Ended September 30, 2022 |
|  | As Reported |  |  | Restatement Adjustment |  |  | As Restated |
Condensed Statements of Cash Flow |  |  |  |  |  |  |  |  |
Net loss |  | $ | (71,365 | ) |  | $ | (19,176 | ) |  | $ | (90,541 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |
Deferred revenue |  |  | (48,475 | ) |  |  | 19,176 |  |  |  | (29,299 | )
Net cash used in operating activities |  |  | (109,394 | ) |  |  | - |  |  |  | (109,394 | )

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI https://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=126900988&loc=SL124452896-108306 + Details
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- References No definition available. + Details
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Period Type: | duration