XML 54 R36.htm IDEA: XBRL DOCUMENT

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

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
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
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
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
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	)