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Basis of Accounting Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2021
Basis of Accounting Presentation and Summary of Significant Accounting Policies [Abstract] |
Adjustments to Financial Statement | The adjustments to the financial statement items for the affected periods are as follows:
|  | As Previously Reported |  |  | Adjustments |  |  | As Restated |
|  | (unaudited) |
Consolidated Balance Sheet as of December 31, 2020 |  |  |  |  |  |  |  |  |
In-process research and development |  | $ | 6,860,000 |  |  | $ | (870,000 | ) |  | $ | 5,990,000 |
Contingent consideration |  | $ | 20,110,000 |  |  | $ | (20,110,000 | ) |  | $ | - |
Accumulated deficit |  | $ | (37,381,000 | ) |  | $ | 19,240,000 |  |  | $ | (18,141,000 | )
Consolidated Statement of Operations for the year ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value of contingent consideration |  | $ | 19,240,000 |  |  | $ | (19,240,000 | ) |  | $ | - |
Net loss |  | $ | (26,531,000 | ) |  | $ | 19,240,000 |  |  | $ | (7,291,000 | )
Net loss per common share - basic and diluted |  | $ | (1.51 | ) |  | $ | 1.10 |  |  | $ | (0.41 | )
Consolidated Statement of Cash Flows for the year ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (26,531,000 | ) |  | $ | 19,240,000 |  |  | $ | (7,291,000 | )
Change in fair value of contingent consideration |  | $ | 19,240,000 |  |  | $ | (19,240,000 | ) |  | $ | - |
Consolidated Balance Sheet as of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
In-process research and development |  | $ | 6,860,000 |  |  | $ | (870,000 | ) |  | $ | 5,990,000 |
Security deposits and other assets |  | $ | 522,000 |  |  | $ | (34,000 | ) |  | $ | 488,000 |
Contingent consideration |  | $ | 19,930,000 |  |  | $ | (19,930,000 | ) |  | $ | - |
Other liabilities |  | $ | 23,000 |  |  | $ | 25,000 |  |  | $ | 48,000 |
Accumulated deficit |  | $ | (159,703,000 | ) |  | $ | 19,001,000 |  |  | $ | (140,702,000 | )
Consolidated Statement of Operations for the year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Change in fair value of contingent consideration |  | $ | (180,000 | ) |  | $ | 180,000 |  |  | $ | - |
Provision for income taxes |  | $ | (5,000 | ) |  | $ | (59,000 | ) |  | $ | (64,000 | )
Net loss |  | $ | (122,306,000 | ) |  | $ | (239,000 | ) |  | $ | (122,545,000 | )
Net loss attributable to common stockholders |  | $ | (122,322,000 | ) |  | $ | (239,000 | ) |  | $ | (122,561,000 | )
Net loss per common share - basic and diluted |  | $ | (2.82 | ) |  | $ | (0.01 | ) |  | $ | (2.83 | )
Consolidated Statement of Cash Flows for the year ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (122,306,000 | ) |  | $ | (239,000 | ) |  | $ | (122,545,000 | )
Change in fair value of contingent consideration |  | $ | (180,000 | ) |  | $ | 180,000 |  |  | $ | - |
Security deposits and other assets |  | $ | (34,000 | ) |  | $ | 34,000 |  |  | $ | - |
Other liabilities |  | $ | - |  |  | $ | 25,000 |  |  | $ | 25,000 |
The adjustments to the line items for the affected unaudited quarterly financial statements are as follows:
|  | As of June 30, 2020 |  |  | As of September 30, 2020 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Restated |  |  | As Previously Reported |  |  | Adjustments |  |  | As Restated |
|  | (in thousands) |  |  | (in thousands) |
Consolidated Balance Sheets |  | (unaudited) |  |  | (unaudited) |
In-process research and development |  | $ | 6,860,000 |  |  | $ | (870,000 | ) |  | $ | 5,990,000 |  |  | $ | 6,860,000 |  |  | $ | (870,000 | ) |  | $ | 5,990,000 |
Contingent consideration |  | $ | 870,000 |  |  | $ | (870,000 | ) |  | $ | - |  |  | $ | 870,000 |  |  | $ | (870,000 | ) |  | $ | - |
|  | As of March 31, 2021 |  |  | As of June 30, 2021 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Restated |  |  | As Previously Reported |  |  | Adjustments |  |  | As Restated |
|  | (in thousands) |  |  | (in thousands) |
Consolidated Balance Sheets |  | (unaudited) |  |  | (unaudited) |
In-process research and development |  | $ | 6,860,000 |  |  | $ | (870,000 | ) |  | $ | 5,990,000 |  |  | $ | 6,860,000 |  |  | $ | (870,000 | ) |  | $ | 5,990,000 |
Contingent consideration |  | $ | 19,290,000 |  |  | $ | (19,290,000 | ) |  | $ | - |  |  | $ | 19,290,000 |  |  | $ | (19,290,000 | ) |  | $ | - |
Accumulated deficit |  | $ | (55,083,000 | ) |  | $ | 18,420,000 |  |  | $ | (36,663,000 | ) |  | $ | (65,176,000 | ) |  | $ | 18,420,000 |  |  | $ | (46,756,000 | )
|  | As of September 30, 2021 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Restated |
|  | (in thousands) |
Consolidated Balance Sheets |  | (unaudited) |
In-process research and development |  | $ | 6,860,000 |  |  | $ | (870,000 | ) |  | $ | 5,990,000 |
Contingent consideration |  | $ | 19,360,000 |  |  | $ | (19,360,000 | ) |  | $ | - |
Accumulated deficit |  | $ | (151,232,000 | ) |  | $ | 18,490,000 |  |  | $ | (132,742,000 | )
|  | Three months ended March 31, 2021 |  |  | Three months ended September 30, 2021 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Restated |  |  | As Previously Reported |  |  | Adjustments |  |  | As Restated |
|  | (in thousands, except per share data) |  |  | (in thousands, except per share data) |
Consolidated Statement of Operations |  | (unaudited) |  |  | (unaudited) |
Change in fair value of contingent consideration |  | $ | (820,000 | ) |  | $ | 820,000 |  |  | $ | - |  |  | $ | 70,000 |  |  | $ | (70,000 | ) |  | $ | - |
Net loss |  | $ | (17,702,000 | ) |  | $ | (820,000 | ) |  | $ | (18,522,000 | ) |  | $ | (86,055,000 | ) |  | $ | 70,000 |  |  | $ | (85,985,000 | )
Net loss attributable to common stockholders |  | $ | (17,702,000 | ) |  | $ | (820,000 | ) |  | $ | (18,522,000 | ) |  | $ | (86,055,000 | ) |  | $ | 70,000 |  |  | $ | (85,985,000 | )
Net loss per common share - basic and diluted |  | $ | (0.64 | ) |  | $ | (0.03 | ) |  | $ | (0.67 | ) |  | $ | (1.70 | ) |  | $ | - |  |  | $ | (1.70 | )
|  | Three months ended March 31, 2021 |  |  | Six months ended June 30, 2021 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Restated |  |  | As Previously Reported |  |  | Adjustments |  |  | As Restated |
|  | (in thousands, except per share data) |  |  | (in thousands, except per share data) |
Consolidated Statement of Cash Flows |  | (unaudited) |  |  | (unaudited) |
Net loss |  | $ | (17,702,000 | ) |  | $ | (820,000 | ) |  | $ | (18,522,000 | ) |  | $ | (27,787,000 | ) |  | $ | (820,000 | ) |  | $ | (28,607,000 | )
Change in fair value of contingent consideration |  | $ | (820,000 | ) |  | $ | 820,000 |  |  | $ | - |  |  | $ | (820,000 | ) |  | $ | 820,000 |  |  | $ | - |
|  | Nine months ended September 30, 2021 |
|  | As Previously Reported |  |  | Adjustments |  |  | As Restated |
|  | (in thousands, except per share data) |
Consolidated Statement of Cash Flows |  | (unaudited) |
Net loss |  | $ | (113,842,000 | ) |  | $ | (750,000 | ) |  | $ | (114,592,000 | )
Change in fair value of contingent consideration |  | $ | (750,000 | ) |  | $ | 750,000 |  |  | $ | - |

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