Codexis (CDXS) 10-Q 4 Nov 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Nov. 01, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-34705
Entity Registrant Name	Codexis, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	71-0872999
Entity Address, Address Line One	200 Penobscot Drive
Entity Address, City or Town	Redwood City
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94063
City Area Code	650
Local Phone Number	421-8100
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	CDXS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		65,687,012
Entity Central Index Key	0001200375
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 108,689	$ 116,797
Restricted cash, current	528	579
Financial assets:
Accounts receivable	16,527	24,953
Contract assets	5,867	4,557
Unbilled receivables	7,490	8,558
Total financial assets	29,884	38,068
Less: allowances	(109)	(416)
Total financial assets, net	29,775	37,652
Inventories	1,623	1,160
Prepaid expenses and other current assets	5,382	5,700
Total current assets	145,997	161,888
Restricted cash	1,520	1,519
Investment in non-marketable equity securities ($13,921 and $12,713 with a related party)	20,510	14,002
Right-of-use assets - Operating leases, net	40,493	44,095
Right-of-use assets - Finance leases, net	0	17
Property and equipment, net	23,319	21,345
Goodwill	3,241	3,241
Other non-current assets	208	276
Total assets	235,288	246,383
Current liabilities:
Accounts payable	2,621	2,995
Accrued compensation	9,463	11,119
Other accrued liabilities	12,992	12,578
Current portion of lease obligations - Operating leases	5,230	4,093
Deferred revenue ($0 and $245 to a related party)	1,602	2,586
Total current liabilities	31,908	33,371
Deferred revenue, net of current portion	8,238	3,749
Long-term lease obligations - Operating leases	39,655	43,561
Other long-term liabilities	1,356	1,311
Total liabilities	81,157	81,992
Commitments and Contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.0001 par value per share; 5,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.0001 par value per share; 100,000 shares authorized; 65,613 shares and 65,109 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively	6	6
Additional paid-in capital	562,811	552,083
Accumulated deficit	(408,686)	(387,698)
Total stockholders' equity	154,131	164,391
Total liabilities and stockholders' equity	$ 235,288	$ 246,383

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investment at cost basis	$ 20,510	$ 14,002
Deferred revenue	$ 1,602	$ 2,586
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	65,613,000	65,109,000
Common stock, outstanding (in shares)	65,613,000	65,109,000
Affiliated Entity
Investment at cost basis	$ 13,921	$ 12,713
Deferred revenue	$ 0	$ 245

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues:
Total revenues	$ 34,470	$ 36,769	$ 108,215	$ 80,253
Costs and operating expenses:
Cost of product revenue	9,786	6,867	29,577	15,403
Research and development	21,821	15,165	60,410	39,562
Selling, general and administrative	13,499	13,407	39,859	37,600
Total costs and operating expenses	45,106	35,439	129,846	92,565
Income (loss) from operations	(10,636)	1,330	(21,631)	(12,312)
Interest income	436	41	618	424
Other income, net	216	983	150	920
Income (loss) before income taxes	(9,984)	2,354	(20,863)	(10,968)
Provision for income taxes	8	110	125	121
Net income (loss)	$ (9,992)	$ 2,244	$ (20,988)	$ (11,089)
Net income (loss) per share, basic (in dollars per share)	$ (0.15)	$ 0.03	$ (0.32)	$ (0.17)
Net income (loss) per share, diluted (in dollars per share)	$ (0.15)	$ 0.03	$ (0.32)	$ (0.17)
Weighted average common stock shares used in computing net income (loss) per share, basic (in shares)	65,426	64,628	65,271	64,452
Weighted average common stock shares used in computing net income (loss) per share, diluted (in shares)	65,426	67,741	65,271	64,452
Product revenue
Revenues:
Total revenues	$ 28,042	$ 28,731	$ 93,376	$ 53,674
Research and development revenue
Revenues:
Total revenues	$ 6,428	$ 8,038	$ 14,839	$ 26,579

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - Affiliated Entity - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Product revenue
Revenue from related parties	$ 215	$ 0	$ 358	$ 0
Research and development revenue
Revenue from related parties	$ 1,000	$ 199	$ 1,245	$ 675

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020		64,283,000
Beginning balance at Dec. 31, 2020	$ 170,103	$ 6	$ 536,516	$ (366,419)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	422,964	423,000
Exercise of stock options	$ 2,700		2,700
Release of stock awards (in shares)		181,000
Employee stock-based compensation	8,360		8,360
Non-employee stock-based compensation	187		187
Taxes paid related to net share settlement of equity awards (in shares)		(54,000)
Taxes paid related to net share settlement of equity awards	(1,206)		(1,206)
Net income (loss)	(11,089)			(11,089)
Ending balance (in shares) at Sep. 30, 2021		64,833,000
Ending balance at Sep. 30, 2021	169,055	$ 6	546,557	(377,508)
Beginning balance (in shares) at Jun. 30, 2021		64,623,000
Beginning balance at Jun. 30, 2021	162,773	$ 6	542,519	(379,752)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		210,000
Exercise of stock options	1,022		1,022
Employee stock-based compensation	2,955		2,955
Non-employee stock-based compensation	61		61
Net income (loss)	2,244			2,244
Ending balance (in shares) at Sep. 30, 2021		64,833,000
Ending balance at Sep. 30, 2021	169,055	$ 6	546,557	(377,508)
Beginning balance (in shares) at Dec. 31, 2021		65,109,000
Beginning balance at Dec. 31, 2021	$ 164,391	$ 6	552,083	(387,698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	252,100	252,000
Exercise of stock options	$ 612		612
Release of stock awards (in shares)		332,000
Employee stock-based compensation	11,467		11,467
Non-employee stock-based compensation	133		133
Taxes paid related to net share settlement of equity awards (in shares)		(80,000)
Taxes paid related to net share settlement of equity awards	(1,484)		(1,484)
Net income (loss)	(20,988)			(20,988)
Ending balance (in shares) at Sep. 30, 2022		65,613,000
Ending balance at Sep. 30, 2022	154,131	$ 6	562,811	(408,686)
Beginning balance (in shares) at Jun. 30, 2022		65,494,000
Beginning balance at Jun. 30, 2022	159,459	$ 6	558,147	(398,694)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		77,000
Exercise of stock options	180		180
Release of stock awards (in shares)		47,000
Employee stock-based compensation	4,516		4,516
Non-employee stock-based compensation	15		15
Taxes paid related to net share settlement of equity awards (in shares)		(5,000)
Taxes paid related to net share settlement of equity awards	(47)		(47)
Net income (loss)	(9,992)			(9,992)
Ending balance (in shares) at Sep. 30, 2022		65,613,000
Ending balance at Sep. 30, 2022	$ 154,131	$ 6	$ 562,811	$ (408,686)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities:
Net loss	$ (20,988)	$ (11,089)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	3,961	2,143
Amortization expense - right-of-use assets - operating and finance leases	3,618	1,980
Stock-based compensation	11,600	8,547
Provision (recovery) for credit losses	(307)	0
Equity securities earned from research and development activities from a related party	(1,245)	(675)
Unrealized gain on non-marketable securities	(208)	(1,033)
Other non-cash items	(29)	(19)
Changes in operating assets and liabilities:
Financial assets	8,184	(19,633)
Inventories	(463)	(120)
Prepaid expenses and other assets	429	(1,195)
Accounts payable	(351)	575
Accrued compensation and other accrued liabilities	2,279	7,036
Other long-term liabilities	(3,863)	(2,324)
Deferred revenue	3,750	880
Net cash provided by (used in) operating activities	6,367	(14,927)
Investing activities:
Purchase of property and equipment	(8,340)	(8,348)
Proceeds from sale of property and equipment	29	36
Investment in non-marketable securities	(5,300)	(7,630)
Net cash used in investing activities	(13,611)	(15,942)
Financing activities:
Proceeds from exercises of stock options	612	2,700
Costs incurred in connection with equity financing	(42)	(153)
Taxes paid related to net share settlement of equity awards	(1,484)	(1,206)
Net cash provided by (used in) financing activities	(914)	1,341
Net decrease in cash, cash equivalents and restricted cash	(8,158)	(29,528)
Cash, cash equivalents and restricted cash at the beginning of the period	118,895	150,817
Cash, cash equivalents and restricted cash at the end of the period	110,737	121,289
Supplemental disclosure of cash flow information:
Interest paid	22	6
Income taxes paid	100	101
Supplemental non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	128	2,012
Cash reconciliation:
Cash and cash equivalents	108,689	119,189
Restricted cash, current and non-current	2,048	2,100
Total cash, cash equivalents and restricted cash	$ 110,737	$ 121,289

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business In these notes to the unaudited condensed consolidated financial statements, the “Company,” “we,” “us,” and “our” refers to Codexis, Inc. and its subsidiaries on a consolidated basis. We discover, develop and sell enzymes and other proteins that deliver value to our clients in a growing set of industries to commercialize an increasing number of novel enzymes, both as proprietary Codexis products and in partnership with our customers. We report our financial results based on two reportable segments: Performance Enzymes and Novel Biotherapeutics. The segment information aligns with how the chief operating decision maker (CODM), who is our Chief Executive Officer (CEO), reviews and manages the business. Business Update Regarding COVID-19 We are subject to risks and uncertainties as a result of the current COVID-19 pandemic. The COVID-19 pandemic has presented a substantial public health and economic challenge around the world and is affecting our employees, communities and business operations, as well as the U.S. economy and other economies worldwide. The full extent to which the COVID-19 pandemic will directly or indirectly impact our business, results of operations and financial condition will depend on future developments that are highly uncertain and may not be accurately predicted, including the duration and severity of the pandemic, the prevalence of more contagious and or virulent variants, and the extent and severity of the impact on our customers, new information that may emerge concerning COVID-19, the actions taken to contain it or treat its impact and the economic impact on local, regional, national and international markets. To date, we and our collaboration partners have been able to continue to supply our enzymes to our customers worldwide. However, we are dependent on our manufacturing and logistics partners and consequently, disruptions in operations of our partners and customers may affect our ability to supply enzymes to our customers. Furthermore, our ability to provide future R&D services may continue to be impacted by any disruptions in operations of our customers with whom we collaborate. We believe that these disruptions have had a minimal impact on revenue for the three and nine months ended September 30, 2022. The extent to which the pandemic may impact our business operations and operating results will continue to remain highly dependent on future developments, which are uncertain and cannot be predicted with confidence. Should these disruptions escalate in the future, they may negatively and materially impact our business, results of operations and financial condition.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") and the applicable rules and regulations of the Securities and Exchange Commission ("SEC") for interim financial information but does not include all the information and notes required by GAAP for complete financial statements. These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2021. The condensed consolidated balance sheet at December 31, 2021 has been derived from the audited consolidated financial statements at that date, but does not include all disclosures, including notes, required by GAAP for complete financial statements. The significant accounting policies used in preparation of the unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2022 and 2021, are consistent with those discussed in Note 2 to the audited consolidated financial statements in the Company’s 2021 Annual Report on Form 10-K and are updated below as necessary. There have been no significant changes in our significant accounting policies or critical accounting estimates since December 31, 2021. The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to present fairly our financial position as of September 30, 2022, results of our operations for the three and nine months ended September 30, 2022 and 2021, changes in stockholders' equity for the three and nine months ended September 30, 2022 and 2021, and cash flows for the nine months ended September 30, 2022 and 2021. The interim results are not necessarily indicative of the results for any future interim period or for the entire year. The unaudited condensed consolidated financial statements include the accounts of Codexis, Inc. and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of our unaudited condensed consolidated financial statements in conformity with GAAP requires us to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosure of contingent assets and liabilities. We regularly assess these estimates which primarily affect revenue recognition, inventories, valuation of equity investments, goodwill arising out of business acquisitions, accrued liabilities, stock awards, and the valuation allowances associated with deferred tax assets. Actual results could differ from those estimates and such differences may be material to the consolidated financial statements. The full extent to which the COVID-19 pandemic will directly or indirectly impact our business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, and may not be accurately predicted, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat COVID-19, as well as the economic impact on local, regional, national and international customers, markets and economies. Accounting Pronouncements Recently adopted accounting pronouncements In May 2021, FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40), Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options, a consensus of the Emerging Issues Task Force . The standard establishes a principles-based framework in accounting for modifications of freestanding equity-classified written call options on the basis of the economic substance of the underlying transaction. The standard also requires increment al financial statement disclosures. The standard affects entities that present earnings per share in accordance with the guidance in Topic 260, Earnings Per Share. We adopted the standard on January 1, 2022 on a prospective basis. The adoption of this standard had no impact on our Unaudited Condensed Consolidated Financial Statements and related disclosures. In August 2020, FASB issued ASU No 2020-06 Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40) No. 2020-06 August 2020 Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , to reduce the complexity and to simplify the accounting for convertible debt instruments and convertible preferred stock, and the derivatives scope exception for contracts in an entity's own equity. In addition, the guidance on calculating diluted earnings per share has been simplified and made more internally consistent. We adopted the standard on January 1, 2022 on a modified retrospective basis. The adoption of this standard had no impact on our Unaudited Condensed Consolidated Financial Statements and related disclosures. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) : Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The standard provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions in which the reference LIBOR or another reference rate are expected to be discontinued as a result of the Reference Rate Reform. We adopted the standard on January 1, 2022 on a prospective basis. The adoption of this standard had no significant impact on our Unaudited Condensed Consolidated Financial Statements and related disclosures. Recently issued accounting pronouncements not yet adopted There have been no other recent accounting pronouncements or changes in accounting pronouncements during the three and nine months ended September 30, 2022, that are of significance or potential significance to us.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Disaggregation of Revenue The following table provides information about disaggregated revenue from contracts with customers into the nature of the products and services, and geographic regions, and includes a reconciliation of the disaggregated revenue with reportable segments. The geographic regions that are tracked are the Americas (United States, Canada, and Latin America), EMEA (Europe, Middle East, and Africa), and APAC (Australia, New Zealand, Southeast Asia, and China). Segment information is as follows (in thousands): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total Major products and service: Product revenue $ 28,042 $ — $ 28,042 $ 28,731 $ — $ 28,731 Research and development revenue 3,104 3,324 6,428 3,853 4,185 8,038 Total revenues $ 31,146 $ 3,324 $ 34,470 $ 32,584 $ 4,185 $ 36,769 Primary geographical markets: Americas $ 3,654 $ 1,168 $ 4,822 $ 5,999 $ 1,817 $ 7,816 EMEA 3,831 2,156 5,987 2,317 2,368 4,685 APAC 23,661 — 23,661 24,268 — 24,268 Total revenues $ 31,146 $ 3,324 $ 34,470 $ 32,584 $ 4,185 $ 36,769 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total Major products and service: Product revenue $ 93,376 $ — $ 93,376 $ 53,674 $ — $ 53,674 Research and development revenue 7,398 7,441 14,839 14,723 11,856 26,579 Total revenues $ 100,774 $ 7,441 $ 108,215 $ 68,397 $ 11,856 $ 80,253 Primary geographical markets: Americas $ 8,514 $ 3,653 $ 12,167 $ 12,573 $ 6,015 $ 18,588 EMEA 11,017 3,788 14,805 11,294 5,841 17,135 APAC 81,243 — 81,243 44,530 — 44,530 Total revenues $ 100,774 $ 7,441 $ 108,215 $ 68,397 $ 11,856 $ 80,253 Contract Balances The following table presents balances of contract assets, unbilled receivables, contract costs, and contract liabilities (in thousands): September 30, 2022 December 31, 2021 Contract assets $ 5,867 $ 4,557 Unbilled receivables $ 7,490 $ 8,558 Contract costs $ 28 $ 56 Contract liabilities: deferred revenue $ 9,840 $ 6,335 We had no asset impairment charges related to financial assets in the three and nine months ended September 30, 2022 and 2021. The increase in contract assets was primarily due to increases in product revenue from contracts subject to over time revenue recognition. The decrease in unbilled receivables was primari ly due to the timing of billings. T he increase in deferred revenue was primarily due to the receipt of the $25.9 million fee from Pfizer in August 2022, pursuant to the terms of the Enzyme Supply Agreement (the “Pfizer Supply Agreement” ) that was executed in July 2022 , which was partially offset by the recognition of $19.4 million in contract assets relating to the same performance obligation within the same agreement. We recognized the following revenues (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Revenue recognized in the period for: 2022 2021 2022 2021 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied $ 889 $ 658 $ 1,694 $ 1,997 Changes in the period: Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods 495 1,521 365 5,848 Performance obligations satisfied from new activities in the period - contract revenue 33,086 34,590 106,156 72,408 Total revenues $ 34,470 $ 36,769 $ 108,215 $ 80,253 Performance Obligations The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting periods. The estimated revenue does not include contracts with original durations of one year or less, amounts of variable consideration attributable to royalties, or contract renewals that are unexercised as of September 30, 2022. The balances in the table below are partially based on judgments involved in estimating future orders from customers subject to the exercise of material rights pursuant to respective contracts as of September 30, 2022 (in thousands): Remainder of 2022 2023 2024 2025 and Thereafter Total Product revenue $ 5 $ 127 $ 5,276 $ 2,962 $ 8,370 Research and development revenue 423 1,047 — — 1,470 Total revenues $ 428 $ 1,174 $ 5,276 $ 2,962 $ 9,840

Net Income (Loss) per Share

Net Income (Loss) per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) per Share	N et Income (Loss) per S hare Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding, less restricted stock awards (“RSAs”) subject to forfeiture. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock shares outstanding, less RSAs subject to forfeiture, plus all additional common shares that would have been outstanding, assuming dilutive potential common stock shares had been issued for other dilutive securities. Anti-Dilutive Securities In periods of net loss, the weighted average number of shares outstanding, prior to the application of the treasury stock method, excludes potentially dilutive securities from the computation of diluted net loss per common share because including such shares would have an anti-dilutive effect. The following table sets forth the computation of basic and diluted net income (loss) per share during the three and nine months ended September 30, 2022 and 2021 (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net income (loss) $ (9,992) $ 2,244 $ (20,988) $ (11,089) Denominator: Weighted average common stock shares used in computing net income (loss) per share, basic 65,426 64,628 65,271 64,452 Effect of dilutive shares — 3,113 — — Weighted average common stock shares used in computing net income (loss) per share, diluted 65,426 67,741 65,271 64,452 Net income (loss) per share, basic $ (0.15) $ 0.03 $ (0.32) $ (0.17) Net income (loss) per share, diluted $ (0.15) $ 0.03 $ (0.32) $ (0.17) The following shares were not considered in the computation of diluted net income (loss) per share because their effect was anti-dilutive (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Shares issuable under the Equity Incentive Plan 6,604 451 6,604 5,148

Investments in Non-Marketable S

Investments in Non-Marketable Securities	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investments in Non-Marketable Securities	Investments in Non-Marketable Securities Non-Marketable Debt Securities We classify non-marketable debt securities, which are accounted for as available-for-sale, within Level 3 in the fair value hierarchy because we estimate the fair value based on a qualitative analysis using the most recent observable transaction price and other significant unobservable inputs including volatility, rights, and obligations of the securities we hold. We determine gains or losses on the sale or extinguishment of non-marketable debt securities using a specific identification method. Unrealized gains and losses from bifurcated embedded derivatives, which represent share-settled redemption features, are recorded as other expense, net, in the unaudited condensed consolidated statements of operations. Unrealized gains and losses on non-marketable debt securities are recorded as a component of other comprehensive loss until realized. Realized gains or losses are recorded as a component of other income, net. In November 2020, we purchased convertible subordinated notes issued by Arzeda Corp. (“Arzeda”), an early-stage computational protein design company, for $1.0 million and the investment was classified as available-for-sale non-marketable interest-bearing debt securities. In July 2021, we converted the non-marketable debt security with a carrying value of $1.3 million into 207,070 shares of Series B-2 preferred stock of Arzeda Corp. During the three and nine months ended September 30, 2021, we recognized nil and $0.3 million, respectively, in interest income from interest earned on our investment in this debt security. There were no investments in non-marketable debt securities as of September 30, 2022 and December 31, 2021. Non-Marketable Equity Securities In March 2022, we entered into a Stock Purchase Agreement with seqWell, Inc. (“seqWell”), a privately held biotechnology company, pursuant to which we purchased 1,000,000 shares of seqWell's Series C preferred stock for $5.0 million. Our non-marketable equity securities are investments in privately held companies without readily determinable market value. These investments are accounted for under the measurement alternative and are measured at cost minus impairment, if any, plus or minus changes resulting from observable price changes for identical or similar securities of the same issuer. Non-marketable equity securities are measured at fair value on a non-recurring basis and classified within Level 2 in the fair value hierarchy because we estimate the fair value of these investments using the observable transaction price paid by third party investors for the same or similar security of the same issuers. We adjust the carrying value of non-marketable equity securities which have been remeasured during the period and recognize resulting gains or losses as a component of other income, net in the unaudited condensed consolidated statements of operations. For the three months ended September 30, 2022, we recognized a $0.2 million unrealized gain in other income, net, and included as adjustment to the carrying value of our investment in MAI, for the remeasurement of the additional 1,587,049 shares of Series B preferred stock received as milestone payment during the three months ended September 30, 2022 based on the latest observed transaction price of MAI's preferred stock. See Note 11 “Related Party Transactions” for additional information on our investment in MAI. For the three months ended September 30, 2021, we recognized a $0.7 million unrealized gain in other income, net, due to an adjustment to the carrying value of our investment in MAI based on an analysis of observed transaction price from MAI's round of financing during the third quarter of 2021. There wa s no re measurement event for our investments in MAI and in other non-marketable equity securities that occurred during the remainder of 2022 and 2021. We recognized no realized gains or losses during the three and nine months ended September 30, 2022 and 2021. The following table presents the carrying value of our non-marketable equity securities (in thousands): September 30, 2022 December 31, 2021 Molecular Assemblies, Inc. (“MAI”) $ 13,921 $ 12,713 seqWell 5,000 — Arzeda 1,289 1,289 Other investments in non-marketable equity securities 300 — Total non-marketable equity securities $ 20,510 $ 14,002

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables present the financial instruments that were measured at fair value on a recurring basis within the fair value hierarchy (in thousands): September 30, 2022 Level 1 Level 2 Level 3 Total Money market funds $ 83,599 $ — $ — $ 83,599 December 31, 2021 Level 1 Level 2 Level 3 Total Money market funds $ 86,095 $ — $ — $ 86,095 During the three and nine months ended September 30, 2022 and 2021, we did not recognize any significant credit losses nor other-than-temporary impairment losses on non-marketable securities.

Balance Sheets Details

Balance Sheets Details	9 Months Ended
	Sep. 30, 2022
Balance Sheets Details [Abstract]
Balance Sheets Details	Balance Sheets Details Cash Equivalents Cash equivalents as of September 30, 2022 and December 31, 2021, consisted of the following (in thousands): September 30, 2022 December 31, 2021 Adjusted Cost Estimated Fair Value Adjusted Cost Estimated Fair Value Money market funds (1) $ 83,599 $ 83,599 $ 86,095 $ 86,095 (1) Money market funds are classified in cash and cash equivalents on our unaudited consolidated balance sheets. Average contractual maturities (in days) is not applicable. As of September 30, 2022, the total cash and cash equivalents balance of $108.7 million consisted of money market funds of $83.6 million and cash of $25.1 million held with major financial institutions. As of December 31, 2021, the total cash and cash equivalents balance of $116.8 million consisted of money market funds of $86.1 million and cash of $30.7 million held with major financial institutions. Inventories Inventories consisted of the following (in thousands): September 30, 2022 December 31, 2021 Raw materials $ 49 $ 49 Work-in-process 22 65 Finished goods 1,552 1,046 Inventories $ 1,623 $ 1,160 Inventories are recorded net of reserves of $1.3 million and $1.4 million as of September 30, 2022 and December 31, 2021, respectively. Property and Equipment, net Property and equipment, net consisted of the following (in thousands): September 30, 2022 December 31, 2021 Laboratory equipment $ 39,355 $ 33,101 Leasehold improvements 16,617 16,117 Computer equipment and software 3,912 3,481 Office equipment and furniture 1,326 1,297 Construction in progress 1,459 3,231 Property and equipment 62,669 57,227 Less: accumulated depreciation and amortization (39,350) (35,882) Property and equipment, net $ 23,319 $ 21,345 Depreciation expense included in both research and development expenses and selling, general and administrative expenses in the unaudited condensed consolidated statements of operations was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Depreciation expense $ 1,405 $ 768 $ 3,961 $ 2,143 Goodwill Goodwill had a carrying value of $3.2 million as of September 30, 2022 and December 31, 2021. Other Accrued Liabilities Other accrued liabilities consisted of the following (in thousands): September 30, 2022 December 31, 2021 Accrued purchases $ 7,573 $ 6,755 Accrued professional and outside service fees 4,276 5,147 Other 1,143 676 Total $ 12,992 $ 12,578

Stock-based Compensation

Stock-based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Equity Incentive Plans In 2019, our board of directors (the "Board") and stockholders approved the 2019 Incentive Award Plan (the "2019 Plan"). The 2019 Plan superseded and replaced in its entirety our 2010 Equity Incentive Plan (the “2010 Plan”) which was effective in March 2010, and no further awards will be granted under the 2010 Plan; however, the terms and conditions of the 2010 Plan will continue to govern any outstanding awards thereunder. The 2019 Plan provides for the grant of stock options, including incentive stock options and non-qualified stock options, stock appreciation rights, restricted stock awards ("RSAs"), restricted stock units ("RSUs"), performance-contingent restricted stock units ("PSUs"), performance based options ("PBOs"), other stock or cash based awards and dividend equivalents to eligible employees and consultants of the Company or any parent or subsidiary, as well as members of the Board. The number of shares of our common stock available for issuance under the 2019 Plan is equal to the sum of (i) 7,897,144 shares, and (ii) any shares subject to awards granted under the 2010 Plan that were outstanding as of April 22, 2019 and thereafter terminate, expire, lapse or are forfeited; provided that no more than 14,000,000 shares may be issued upon the exercise of incentive stock options (“ISOs”). In June 2019, 8.1 million shares authorized for issuance under the 2019 Plan were registered under the Securities Act of 1933, as amended (the “Securities Act”). The 2010 Plan provided for the grant of incentive stock options, non-statutory stock options, RSUs, RSAs, PSUs, PBOs, stock appreciation rights, and stock purchase rights to our employees, non-employee directors and consultants. Stock Options The option exercise price for incentive stock options must be at least 100% of the fair value of our common stock on the date of grant and the option exercise price for non-statutory stock options is at least 85% of the fair value of our common stock on the date of grant, as determined by the Board. If, at the time of a grant, the optionee directly or by attribution owns stock possessing more than 10% of the total combined voting power of all of our outstanding capital stock, the exercise price for these options must be at least 110% of the fair value of the underlying common stock. Stock options granted to employees generally have a maximum term of ten years and vest over four years from the date of grant, of which 25% vest at the end of one year, and 75% vest monthly over the remaining three years. We may grant options with different vesting terms from time to time. Unless an employee's termination of service is due to disability or death, upon termination of service, any unexercised vested options will be forfeited at the end of three months or the expiration of the option, whichever is earlier. Restricted Stock Units ("RSUs") We also grant employees RSUs, which generally vest over either a three year period with 33% of the shares subject to the RSUs vesting on each yearly anniversary of the vesting commencement date or over a four year period with 25% of the shares subject to the RSU vesting on each yearly anniversary of the vesting commencement date, in each case contingent upon such employee’s continued service on such vesting date. RSUs are generally subject to forfeiture if employment terminates prior to the release of vesting restrictions. We may grant RSUs with different vesting terms from time to time. Performance-contingent Restricted Stock Units ("PSUs") and Performance Based Options ("PBOs") The compensation committee of the Board approved, solely in respect of non-executive employees, delegated to our Chief Executive Officer the authority to approve grants of PSUs. The compensation committee of the Board also approved grants of PBOs and PSUs to our executives. The PSUs and PBOs vest based upon both the successful achievement of certain corporate operating milestones in specified timelines and continued employment through the applicable vesting date. When the performance goals are deemed to be probable of achievement for these types of awards, recognition of stock-based compensation expense commences. Once the number of shares eligible to vest is determined, those shares vest in two equal installments with 50% vesting upon achievement and the remaining 50% vesting on the first anniversary of achievement, in each case, subject to the recipient’s continued service through the applicable vesting date. If the performance goals are achieved at the threshold level, the number of shares eligible to vest in respect of the PSUs and PBOs would be equal to half the number of PSUs granted and one-quarter the number of shares underlying the PBOs granted. If the performance goals are achieved at the target level, the number of shares eligible to vest in respect of the PSUs and PBOs would be equal to the number of PSUs granted and half of the shares underlying the PBOs granted. If the performance goals are achieved at the superior level, the number of shares eligible to vest in respect of the PSUs would be equal to two times the number of PSUs granted and equal to the number of PBOs granted. The number of shares issuable upon achievement of the performance goals at the levels between the threshold and target levels for the PSUs and PBOs or between the target level and superior levels for the PSUs would be determined using linear interpolation. Achievement below the threshold level would result in no shares being eligible to vest in respect of the PSUs and PBOs. In the first quarter of 2022, we awarded PSUs ("2022 PSUs") and PBOs ("2022 PBOs"), each of which commence vesting based upon the achievement of various weighted performance goals, including total revenues, research and development revenue, product revenue (excluding sales of CDX-616 to Pfizer for its use in the manufacture of a critical intermediate for nirmatrelvir, an active pharmaceutical ingredient (API) in its PAXLOVID™ product), operating expenses excluding cost of product revenue, strategic performance enzyme deliverables, strategic biotherapeutics deliverables, organization and infrastructure upgrades, corporate developments, and significant events that can be publicly announced, subject to the recipient's continued service. As of September 30, 2022, we estimated that the 2022 PSUs and 2022 PBOs performance goals would be achieved at 97% and 49% o f the target level, respectively, and recognized stock-based compensation expenses accordingly. In 2021, we awarded PSUs ("2021 PSUs") and PBOs ("2021 PBOs"), each of which commence vesting based upon the achievement of various weighted performance goals, including total revenues, product revenue, performance enzymes pipeline advancements, biotherapeutics pipeline advancements, organization and infrastructure upgrades, and significant events that can be publicly announced. In the first quarter of 2022, we determined that the 2021 PSUs and 2021 PBOs performance goals had been achieved at 146% and 73% of the target level, respectively, and recognized stock-based compensation expenses accordingly. Accordingly, 50% of the shares underlying the 2021 PSUs and PBOs vested in the first quarter of 2022 and 50% of the shares underlying the 2021 PSUs and PBOs will vest in the first quarter of 2023, in each case , subject to the recipient’s continued service on each vesting date. In 2020, we awarded PSUs ("2020 PSUs") and PBOs ("2020 PBOs"), each of which commenced vesting based upon the achievement of various weighted performance goals, including total revenues, performance enzyme segment gross margin, major new biotherapeutics publicity events, strategic performance enzyme and biotherapeutics deliverables, and strategic plan development. In the first quarter of 2021, we determined that the 2020 PSUs and 2020 PBOs performance goals had been achieved at 88% and 44% of the target level, respectively, and recognized stock-based compensation expenses accordingly. Accordingly, 50% of the shares underlying the 2020 PSUs and PBOs vested in the first quarter of 2021 and 50% of the shares underlying the 2020 PSUs and PBOs vested in the first quarter of 2022, in each case subject to the recipient’s continued service on each vesting date. Stock-Based Compensation Expense Stock-based compensation expense is included in the unaudited condensed consolidated statements of operations as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Research and development $ 958 $ 652 $ 2,853 $ 1,726 Selling, general and administrative 3,573 2,364 8,747 6,821 Total $ 4,531 $ 3,016 $ 11,600 $ 8,547 The following table presents total stock-based compensation expense by security type included in the unaudited condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options $ 1,679 $ 693 $ 3,279 $ 2,040 RSUs and RSAs 1,290 742 3,785 1,974 PSUs 965 640 2,279 1,683 PBOs 597 941 2,257 2,850 Total $ 4,531 $ 3,016 $ 11,600 $ 8,547 In connection with the retirement of John Nicols, our former President and Chief Executive Officer, in August 2022, and the Transition and Separation Agreement between Mr. Nicols and the Company effective as of July 26, 2022, certain supplementary modifications were made to Mr. Nicols’ vested and unvested stock option and PBOs awards including voluntary forfeiture of certain unvested stock option and PBOs awards and the extension of the post-termination exercise period of certain vested stock option and PBOs awards. During the three and nine months ended September 30, 2022 , we recorded a one-time, non-cash incremental compensation expense of $1.0 million, net of the required reversal of previously recognized stock-based compensation expenses attributed to unvested shares, in selling, general and administrative expenses related to these stock option award modifications.

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Capital Stock	Capital Stock Exercise of Options For the nine months ended September 30, 2022 and September 30, 2021, we issued 252,100 and 422,964 shares, respectively, upon option exercises at a weighted-average exercise price of $2.43 and $6.45 per share, respectively, with net cash proceeds of $0.6 million and $2.7 million, respectively. Equity Distribution Agreement We filed a shelf Registration Statement on Form S-3 with the SEC, under which we may sell common stock, preferred stock, debt securities, warrants, purchase contracts, and units from time to time in one or more offerings. The registration statement became effective on May 7, 2021. In May 2021, we entered into an Equity Distribution Agreement (“EDA”) with Piper Sandler & Co (“PSC”), under which PSC, as our exclusive agent, at our discretion and at such times that we may determine from time to time, may sell over a three-year period from the execution of the EDA up to a maximum of $50.0 million of shares of our common stock. Under the terms of the EDA, PSC may sell the shares at market prices by any method that is deemed to be an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended. We are not required to sell any shares at any time during the term of the EDA. The EDA will terminate upon the earlier of: (i) the issuance and sale of all shares through PSC on the terms and conditions of the EDA, or (ii) the termination of the EDA in accordance with its terms. Either party may terminate the EDA at any time upon written notification to the other party in accordance with the EDA, and upon such notification, the offering will terminate. Under no circumstances shall any shares be sold pursuant to the EDA after the date which is three years after the registration statement is first declared effective by the SEC. We agreed to pay PSC a commission of 3% of the gross sales price of any shares sold pursuant to the EDA. With the exception of certain expenses, we will pay PSC up to 8% of the gross sales price of the shares sold pursuant to the EDA for a combined amount of commission and reimbursement of PSC's expenses and fees.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases Our headquarters are located in Redwood City, California, where we occupy approximately 77,300 square feet of office and laboratory space in multiple buildings within the same business park of Metropolitan Life Insurance Company ("MetLife"). Our lease agreement with MetLife ("RWC Lease") includes approximately 28,200 square feet of space located at 200 and 220 Penobscot Drive, Redwood City, California (the “200/220 Penobscot Space”) and approximately 37,900 square feet of space located at 400 Penobscot Drive, Redwood City, California (the “400 Penobscot Space”) (the 200/220 Penobscot Space and the 400 Penobscot Space are collectively referred to as the “Penobscot Space”), and approximately 11,200 square feet of space located at 501 Chesapeake Drive, Redwood City, California (the “501 Chesapeake Space”). We entered into the initial lease with MetLife for our facilities in Redwood City in 2004 and the RWC Lease has been amended multiple times since then to adjust the leased space and terms of the Lease. In February 2019, we entered into an Eighth Amendment to the Lease (the “Eighth Amendment”) with MetLife with respect to the Penobscot Space and the 501 Chesapeake Space to extend the term of the Lease for additional periods. Pursuant to the Eighth Amendment, the term of the lease of the Penobscot Space has been extended through May 2027. The lease term for the 501 Chesapeake Space has been extended to May 2029. We have one (1) option to extend the term of the lease for the Penobscot Space for five (5) years, and one (1) separate option to extend the term of the lease for the 501 Chesapeake Space for five (5) years. Pursuant to the terms of the RWC Lease, we exercised our right to deliver a letter of credit in lieu of a security deposit. The letter of credit is collateralized by deposit balances held by the bank in the amount of $1.1 million as of September 30, 2022 and December 31, 2021, and are recorded as non-current restricted cash on the unaudited condensed consolidated balance sheets. In January 2021, we entered into a lease agreement with ARE-San Francisco No. 63, LLC (“ARE”) to lease a portion of a facility consisted of approximately 36,593 rentable square feet in San Carlos, California to serve as additional office and research and development laboratory space (the “San Carlos Space”). The terms include an initial annualized base rent of $2.5 million, subject to scheduled 3% annual rent increases, an annualized additional allowance payment of $0.4 million, plus certain operating expenses. The lease has a 10-year term from the lease commencement date of November 30, 2021 with one option to extend the term for an additional period of 5 years. We have provided ARE with a $0.5 million security deposit in the form of a letter of credit and we commenced occupancy of the San Carlos Space in December 2021. We have the right to sublease the facility, subject to landlord consent. We are required to restore certain areas of the Redwood City and San Carlos facilities that we are renting to their original form. We are expensing the asset retirement obligation over the terms of the respective leases. We review the estimated obligation each reporting period and make adjustments if our estimates change. We recorded asset retirement obligations of $0.5 million an d $0.4 million as of September 30, 2022 and December 31, 2021, respectively, which are included in other liabilities on the unaudited condensed consolidated balance sheets. Accretion expense related to our asset retirement obligations was nominal in the three and nine months ended September 30, 2022 and 2021. Lease and other information Lease costs, amounts included in measurement of lease obligations and other information related to non-cancellable operating leases and finance leases were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Finance lease costs $ — $ 26 $ 18 $ 79 Operating lease cost 1,831 1,032 5,491 3,097 Short-term lease costs (1) — 30 40 40 Total lease cost (2) $ 1,831 $ 1,088 $ 5,549 $ 3,216 (1) Short-term lease costs on leases with terms of over one month and less than one year. (2) The Company had no variable lease costs. Other information: Operating Leases Weighted-average remaining lease term (in years) 7.3 years Weighted-average discount rate 5.4 % Nine Months Ended September 30, Cash paid: 2022 2021 Operating cash flows from operating leases $ 4,658 $ 3,145 As of September 30, 2022, our maturity analysis of annual undiscounted cash flows of the non-cancellable operating leases are as follows (in thousands): Years ending December 31, Operating Leases 2022 (remaining 3 months) $ 1,847 2023 7,568 2024 7,783 2025 8,004 2026 8,232 2027 and thereafter 20,706 Total minimum lease payments 54,140 Less: imputed interest 9,255 Lease obligations $ 44,885 Reconciliation of operating lease liabilities as shown within the unaudited condensed consolidated balance sheets Current portion of lease obligations - Operating leases $ 5,230 Long-term lease obligations - Operating leases 39,655 Total operating lease liabilities $ 44,885 Other Commitments We enter into supply and service arrangements in the normal course of business. Supply arrangements are primarily for fixed-price manufacture and supply. Service agreements are primarily for the development of manufacturing processes and certain studies. Commitments under service agreements are subject to cancellation at our discretion which may require payment of certain cancellation fees. The timing of completion of service arrangements is subject to variability in estimates of the time required to complete the work. The following table provides quantitative data regarding our other commitments. Future minimum payments reflect amounts that we expect to pay including potential obligations under services agreements subject to risk of cancellation by us (in thousands): Payments Due by Period Total 2022 (Remaining 3 Months) 2023 2024 2025 and Thereafter Development and manufacturing services agreements $ 2,866 $ 1,770 $ 991 $ 105 $ — Facility maintenance agreement 1,608 — 1,608 — — Total other commitments $ 4,474 $ 1,770 $ 2,599 $ 105 $ — Credit Facility In June 30, 2017, we entered into a credit facility (the “Credit Facility”) with Western Alliance Bank consisting of term loans (“Term Debt”) up to $10.0 million, and advances (“Advances”) under a revolving line of credit ("Revolving Line of Credit") up to $5.0 million with an accounts receivable borrowing base of 80% of eligible accounts receivable. The right to take draws on the Term Debt expired on December 31, 2021. On October 1, 2024, loans drawn, if any, under the Revolving Line of Credit terminate. Advances made under the Revolving Line of Credit bear interest at a variable annual rate equal to the greater of (i) 4.25% or (ii) the sum of (A) the prime rate plus (B) 1.00%. As of September 30, 2022 and December 31, 2021, we have not drawn from the Credit Facility. Our obligations under the Credit Facility are secured by a lien on substantially all of our personal property other than our intellectual property. The Credit Facility includes a number of customary covenants and restrictive financial covenants including meeting minimum product revenue levels and maintaining certain minimum cash levels with the lender. The Credit Facility's financial covenants restrict the ability of the Company to transfer collateral, incur additional indebtedness, engage in mergers or acquisitions, pay dividends or make other distributions, make investments, create liens, sell assets, or sell certain assets held at foreign subsidiaries. A failure to comply with these covenants could permit the lender to exercise remedies against us and the collateral securing the Credit Facility, including foreclosure of our properties securing the Credit Facilities and our cash. As of September 30, 2022 and December 31, 2021, we were in compliance with the covenants for the Credit Facility. Legal Proceedings We may be involved in legal actions in the ordinary course of business, including inquiries and proceedings concerning business practices and intellectual property infringement, employee relations and other claims. We will recognize a loss contingency in the condensed consolidated financial statements when it is probable a liability has been incurred and the amount of the loss can be reasonably estimated. We will disclose any loss contingencies that do not meet both conditions if there is a reasonable possibility that a material loss may have been incurred. Gain contingencies are not recorded until they are realized. In April 2022, we reached a settlement resolving a non-material dispute involving the Company's trademark. The terms of the settlement are not material to the business or the results of operations of the Company. We are currently not a party to any material pending litigation of other material proceedings. Indemnifications We are required to recognize a liability for the fair value of any obligations we assume upon the issuance of a guarantee. We have certain agreements with licensors, licensees and collaborators that contain indemnification provisions. In such provisions, we typically agree to indemnify the licensor, licensee and collaborator against certain types of third party claims. The maximum amount of the indemnifications is not limited. We accrue for known indemnification issues when a loss is probable and can be reasonably estimated. There were no accruals for expenses related to indemnification issues for any periods presented.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Molecular Assemblies, Inc. In June 2020, we entered into a Stock Purchase Agreement with MAI pursuant to which we purchased 1,587,050 shares of MAI's Series A preferred stock for $1.0 million. In connection with the transaction, Mr. Nicols, our former President and Chief Executive Officer, also joined MAI’s board of directors. Concurrently with our initial equity investment, we entered into a Master Collaboration and Research Agreement with MAI (the “MAI Agreement”), pursuant to which we are leveraging our CodeEvolver ® protein engineering platform technology to improve the DNA polymerase enzymes that are critical for enzymatic DNA synthesis. Under the MAI Agreement, we are performing services utilizing our CodeEvolver ® protein engineering platform technology to improve DNA polymerase enzymes in exchange for compensation in the form of additional shares of MAI's Series A and B preferred stock which are valued based on the observed transaction price of similar securities of MAI issued to third parties . We completed the R&D service with MAI pursuant to the MAI Agreement during the first quarter of 2022. In December 2021, we received the primary milestone payment pursuant to the MAI Agreement of $1.0 million in the form of an additional 1,587,049 shares of Series B preferred stock. Upon execution of the Commercial License and Enzyme Supply Agreement with MAI (“MAI Supply Agreement”) in July 2022, we received the commercialization and enzyme supply agreement milestone payment pursuant to the MAI Agreement of $1.0 million in the form of an additional 1,587,049 shares of Series B preferred stock. In addition to our initial equity investment and the shares we have received under the MAI Agreement, in April 2021, we purchased an additional 1,000,000 shares of MAI's Series A preferred stock for $0.6 million and in September 2021, we purchased 9,198,423 shares of MAI's Series B preferred stock for $7.0 million. We recognized $1.0 million and $1.2 million in research and development revenue from transactions with MAI in the three and nine months ended September 30, 2022, respectively, and we recognized $0.2 million and $0.7 million in research and development service transactions with MAI in the three and nine months ended September 30, 2021, respectively. Payment for the R&D services rendered under the MAI Agreement was received in the form of additional shares of MAI's Series A and Series B preferred stock. We received an aggregate of 1,587,049 shares of MAI's Series A and B preferred stock in the three and nine months ended September 30, 2022 and we received an aggregate of 476,114 and an aggregate of 1,904,456 shares of MAI's Series A and B preferred stock in the three and nine months ended September 30, 2021, respectively. As of September 30, 2022 we hold an aggregate of 18,292,369 shares of MAI's Series A and B preferred stock that we have earned or purchased since executing the Stock Purchase Agreement with MAI. In April 2022, we received a purchase order from MAI for the delivery of certain enzyme products to MAI in 2022. In July 2022, we and MAI executed the MAI Supply Agreement that will enable MAI to utilize an evolved terminal deoxynucleotidyl transferase (TdT) enzyme in MAI’s Fully Enzymatic Synthesis™ (or FES™) technology. We recognized $0.2 million and $0.4 million in product revenue in the three and nine months ended September 30, 2022, respectively. The carrying value of our investment in MAI Series A and B preferred stock was $13.9 million and $12.7 million as of September 30, 2022 and December 31, 2021, respectively (s ee Note 6 “Fair Value Measurements”)

Segment, Geographical and Other

Segment, Geographical and Other Revenue Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment, Geographical and Other Revenue Information	Segment, Geographical and Other Revenue Information Segment Information We manage our business as two business segments: Performance Enzymes and Novel Biotherapeutics. Our chief operating decision maker ("CODM") is our Chief Executive Officer. Our business segments are primarily based on our organizational structure and our operating results as used by our CODM in assessing performance and allocating resources for the Company. We report corporate-related expenses such as legal, accounting, information technology, and other costs that are not otherwise included in our reportable business segments as "corporate costs." All items not included in income (loss) from operations are excluded from the business segments. We manage our assets on a total company basis, not by business segment, as the majority of our operating assets are shared or commingled. Our CODM does not review asset information by business segment in assessing performance or allocating resources, and accordingly, we do not report asset information by business segment. All of our long lived assets are located in the United States. Factors considered in determining the two reportable segments of the Company include the nature of business activities, the management structure directly accountable to our CODM for operating and administrative activities, availability of discrete financial information and information presented to the Board of Directors. Our CODM regularly reviews our segments and the approach provided by management for performance evaluation and resource allocation. Operating expenses that directly support the segment activity are allocated based on segment headcount, revenue contribution or activity of the business units within the segments, based on the corporate activity type provided to the segment. The expense allocation excludes certain corporate costs that are separately managed from the segments. This provides the CODM with more meaningful segment profitability reporting to support operating decisions and allocate resources. The following table provides financial information by our reportable business segments along with a reconciliation to consolidated income (loss) before income taxes (in thousands): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total Revenues: Product revenue $ 28,042 $ — $ 28,042 $ 28,731 $ — $ 28,731 Research and development revenue 3,104 3,324 6,428 3,853 4,185 8,038 Total revenues 31,146 3,324 34,470 32,584 4,185 36,769 Costs and operating expenses: Cost of product revenue 9,786 — 9,786 6,867 — 6,867 Research and development (1) 6,782 13,855 20,637 5,670 8,850 14,520 Selling, general and administrative (1) 3,791 888 4,679 3,306 831 4,137 Total segment costs and operating expenses 20,359 14,743 35,102 15,843 9,681 25,524 Income (loss) from operations $ 10,787 $ (11,419) (632) $ 16,741 $ (5,496) 11,245 Corporate costs (2) (7,947) (8,097) Unallocated depreciation and amortization (1,405) (794) Income (loss) before income taxes $ (9,984) $ 2,354 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total Revenues: Product revenue $ 93,376 $ — $ 93,376 $ 53,674 $ — $ 53,674 Research and development revenue 7,398 7,441 14,839 14,723 11,856 26,579 Total revenues 100,774 7,441 108,215 68,397 11,856 80,253 Costs and operating expenses: Cost of product revenue 29,577 — 29,577 15,403 — 15,403 Research and development (1) 19,833 37,279 57,112 17,172 20,649 37,821 Selling, general and administrative (1) 11,208 2,288 13,496 9,294 2,052 11,346 Total segment costs and operating expenses 60,618 39,567 100,185 41,869 22,701 64,570 Income (loss) from operations $ 40,156 $ (32,126) 8,030 $ 26,528 $ (10,845) 15,683 Corporate costs (2) (24,940) (24,431) Unallocated depreciation and amortization (3,953) (2,220) Loss before income taxes $ (20,863) $ (10,968) (1) Research and development expenses and selling, general and administrative expenses exclude depreciation and amortization of finance leases. (2) Corporate costs include unallocated selling, general and administrative expenses, interest income, and other income, net. The following table provides stock-based compensation expense in cluded in income (loss) from operations (in thousands): Three Months Ended September 30, 2022 2021 Performance Enzymes Novel Biotherapeutics Corporate cost Total Performance Enzymes Novel Biotherapeutics Corporate cost Total Stock-based compensation $ 1,382 $ 414 $ 2,735 $ 4,531 $ 1,228 $ 272 $ 1,516 $ 3,016 Nine Months Ended September 30, 2022 2021 Performance Enzymes Novel Biotherapeutics Corporate cost Total Performance Enzymes Novel Biotherapeutics Corporate cost Total Stock-based compensation $ 4,151 $ 1,182 $ 6,267 $ 11,600 $ 3,337 $ 767 $ 4,443 $ 8,547 Significant Customers Customers that each accounted for 10% or more of our total revenues were as follows: Percentage of Total Revenues for the Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Customer A 39 % 51 % 54 % 29 % Customer B * * * 12 % Customer C 13 % * * 10 % * Percentage was less than 10% Customers that each accounted for 10% or more of accounts receivable balances as of the periods presented as follows: Percentage of Accounts Receivables as of September 30, 2022 December 31, 2021 Customer A 21 % 62 % Customer B 16 % * Customer D 14 % * Geographical Information Geographic revenues are identified by the location of the customer and consist of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenues Americas $ 4,822 $ 7,816 $ 12,167 $ 18,588 EMEA 5,987 4,685 14,805 17,135 APAC 23,661 24,268 81,243 44,530 Total revenues $ 34,470 $ 36,769 $ 108,215 $ 80,253 Identifiable long-lived assets by location was as follows (in thousands): September 30, 2022 December 31, 2021 United States $ 63,812 $ 65,457 Identifiable goodwill by reporting unit was as follows (in thousands): As of September 30, 2022 and December 31, 2021 Performance Enzymes Novel Biotherapeutics Total Goodwill $ 2,463 $ 778 $ 3,241

Allowance for Credit Losses

Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses The following table summarizes the financial assets allowance for credit losses (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Balance at beginning of period $ 109 $ 74 $ 416 $ 74 Provision for credit losses — — — — Write-offs — — (257) — Adjustment to the existing allowance — — (50) — Balance at end of period $ 109 $ 74 $ 109 $ 74 The following tables summarize accounts receivable by aging category (in thousands): September 30, 2022 Current 31-60 Days 61-90 Days 91 Days and over Total over 31 Days Total balance Accounts receivable $ 13,044 $ 1,941 $ 345 $ 1,197 $ 3,483 $ 16,527 December 31, 2021 Current 31-60 Days 61-90 Days 91 Days and over Total over 31 Days Total balance Accounts receivable $ 22,697 $ 536 $ 569 $ 1,151 $ 2,256 $ 24,953

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") and the applicable rules and regulations of the Securities and Exchange Commission ("SEC") for interim financial information but does not include all the information and notes required by GAAP for complete financial statements. These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the year ended December 31, 2021. The condensed consolidated balance sheet at December 31, 2021 has been derived from the audited consolidated financial statements at that date, but does not include all disclosures, including notes, required by GAAP for complete financial statements. The significant accounting policies used in preparation of the unaudited condensed consolidated financial statements for the three and nine months ended September 30, 2022 and 2021, are consistent with those discussed in Note 2 to the audited consolidated financial statements in the Company’s 2021 Annual Report on Form 10-K and are updated below as necessary. There have been no significant changes in our significant accounting policies or critical accounting estimates since December 31, 2021. The unaudited condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to present fairly our financial position as of September 30, 2022, results of our operations for the three and nine months ended September 30, 2022 and 2021, changes in stockholders' equity for the three and nine months ended September 30, 2022 and 2021, and cash flows for the nine months ended September 30, 2022 and 2021. The interim results are not necessarily indicative of the results for any future interim period or for the entire year.
Use of Estimates	Use of Estimates The preparation of our unaudited condensed consolidated financial statements in conformity with GAAP requires us to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosure of contingent assets and liabilities. We regularly assess these estimates which primarily affect revenue recognition, inventories, valuation of equity investments, goodwill arising out of business acquisitions, accrued liabilities, stock awards, and the valuation allowances associated with deferred tax assets. Actual results could differ from those estimates and such differences may be material to the consolidated financial statements. The full extent to which the COVID-19 pandemic will directly or indirectly impact our business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, and may not be accurately predicted, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat COVID-19, as well as the economic impact on local, regional, national and international customers, markets and economies.
Accounting Pronouncements	Accounting Pronouncements Recently adopted accounting pronouncements In May 2021, FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40), Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options, a consensus of the Emerging Issues Task Force . The standard establishes a principles-based framework in accounting for modifications of freestanding equity-classified written call options on the basis of the economic substance of the underlying transaction. The standard also requires increment al financial statement disclosures. The standard affects entities that present earnings per share in accordance with the guidance in Topic 260, Earnings Per Share. We adopted the standard on January 1, 2022 on a prospective basis. The adoption of this standard had no impact on our Unaudited Condensed Consolidated Financial Statements and related disclosures. In August 2020, FASB issued ASU No 2020-06 Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging— Contracts in Entity’s Own Equity (Subtopic 815-40) No. 2020-06 August 2020 Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , to reduce the complexity and to simplify the accounting for convertible debt instruments and convertible preferred stock, and the derivatives scope exception for contracts in an entity's own equity. In addition, the guidance on calculating diluted earnings per share has been simplified and made more internally consistent. We adopted the standard on January 1, 2022 on a modified retrospective basis. The adoption of this standard had no impact on our Unaudited Condensed Consolidated Financial Statements and related disclosures. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) : Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The standard provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions in which the reference LIBOR or another reference rate are expected to be discontinued as a result of the Reference Rate Reform. We adopted the standard on January 1, 2022 on a prospective basis. The adoption of this standard had no significant impact on our Unaudited Condensed Consolidated Financial Statements and related disclosures. Recently issued accounting pronouncements not yet adopted There have been no other recent accounting pronouncements or changes in accounting pronouncements during the three and nine months ended September 30, 2022, that are of significance or potential significance to us.
Segment Information	Segment Information We manage our business as two business segments: Performance Enzymes and Novel Biotherapeutics. Our chief operating decision maker ("CODM") is our Chief Executive Officer. Our business segments are primarily based on our organizational structure and our operating results as used by our CODM in assessing performance and allocating resources for the Company. We report corporate-related expenses such as legal, accounting, information technology, and other costs that are not otherwise included in our reportable business segments as "corporate costs." All items not included in income (loss) from operations are excluded from the business segments. We manage our assets on a total company basis, not by business segment, as the majority of our operating assets are shared or commingled. Our CODM does not review asset information by business segment in assessing performance or allocating resources, and accordingly, we do not report asset information by business segment. All of our long lived assets are located in the United States. Factors considered in determining the two reportable segments of the Company include the nature of business activities, the management structure directly accountable to our CODM for operating and administrative activities, availability of discrete financial information and information presented to the Board of Directors. Our CODM regularly reviews our segments and the approach provided by management for performance evaluation and resource allocation. Operating expenses that directly support the segment activity are allocated based on segment headcount, revenue contribution or activity of the business units within the segments, based on the corporate activity type provided to the segment. The expense allocation excludes certain corporate costs that are separately managed from the segments. This provides the CODM with more meaningful segment profitability reporting to support operating decisions and allocate resources.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Segment information is as follows (in thousands): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total Major products and service: Product revenue $ 28,042 $ — $ 28,042 $ 28,731 $ — $ 28,731 Research and development revenue 3,104 3,324 6,428 3,853 4,185 8,038 Total revenues $ 31,146 $ 3,324 $ 34,470 $ 32,584 $ 4,185 $ 36,769 Primary geographical markets: Americas $ 3,654 $ 1,168 $ 4,822 $ 5,999 $ 1,817 $ 7,816 EMEA 3,831 2,156 5,987 2,317 2,368 4,685 APAC 23,661 — 23,661 24,268 — 24,268 Total revenues $ 31,146 $ 3,324 $ 34,470 $ 32,584 $ 4,185 $ 36,769 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total Major products and service: Product revenue $ 93,376 $ — $ 93,376 $ 53,674 $ — $ 53,674 Research and development revenue 7,398 7,441 14,839 14,723 11,856 26,579 Total revenues $ 100,774 $ 7,441 $ 108,215 $ 68,397 $ 11,856 $ 80,253 Primary geographical markets: Americas $ 8,514 $ 3,653 $ 12,167 $ 12,573 $ 6,015 $ 18,588 EMEA 11,017 3,788 14,805 11,294 5,841 17,135 APAC 81,243 — 81,243 44,530 — 44,530 Total revenues $ 100,774 $ 7,441 $ 108,215 $ 68,397 $ 11,856 $ 80,253
Contract with Customer	The following table presents balances of contract assets, unbilled receivables, contract costs, and contract liabilities (in thousands): September 30, 2022 December 31, 2021 Contract assets $ 5,867 $ 4,557 Unbilled receivables $ 7,490 $ 8,558 Contract costs $ 28 $ 56 Contract liabilities: deferred revenue $ 9,840 $ 6,335 We recognized the following revenues (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Revenue recognized in the period for: 2022 2021 2022 2021 Amounts included in contract liabilities at the beginning of the period: Performance obligations satisfied $ 889 $ 658 $ 1,694 $ 1,997 Changes in the period: Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods 495 1,521 365 5,848 Performance obligations satisfied from new activities in the period - contract revenue 33,086 34,590 106,156 72,408 Total revenues $ 34,470 $ 36,769 $ 108,215 $ 80,253
Performance Obligation, Expected Timing of Satisfaction	The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting periods. The estimated revenue does not include contracts with original durations of one year or less, amounts of variable consideration attributable to royalties, or contract renewals that are unexercised as of September 30, 2022. The balances in the table below are partially based on judgments involved in estimating future orders from customers subject to the exercise of material rights pursuant to respective contracts as of September 30, 2022 (in thousands): Remainder of 2022 2023 2024 2025 and Thereafter Total Product revenue $ 5 $ 127 $ 5,276 $ 2,962 $ 8,370 Research and development revenue 423 1,047 — — 1,470 Total revenues $ 428 $ 1,174 $ 5,276 $ 2,962 $ 9,840

Net Income (Loss) per Share (Ta

Net Income (Loss) per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings (Loss) Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted net income (loss) per share during the three and nine months ended September 30, 2022 and 2021 (in thousands, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Numerator: Net income (loss) $ (9,992) $ 2,244 $ (20,988) $ (11,089) Denominator: Weighted average common stock shares used in computing net income (loss) per share, basic 65,426 64,628 65,271 64,452 Effect of dilutive shares — 3,113 — — Weighted average common stock shares used in computing net income (loss) per share, diluted 65,426 67,741 65,271 64,452 Net income (loss) per share, basic $ (0.15) $ 0.03 $ (0.32) $ (0.17) Net income (loss) per share, diluted $ (0.15) $ 0.03 $ (0.32) $ (0.17)
Shares Not Included in Computation of Diluted Net Loss Per Share	The following shares were not considered in the computation of diluted net income (loss) per share because their effect was anti-dilutive (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Shares issuable under the Equity Incentive Plan 6,604 451 6,604 5,148

Investments in Non-Marketable_2

Investments in Non-Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Carrying Value of Non-marketable Equity Securities	The following table presents the carrying value of our non-marketable equity securities (in thousands): September 30, 2022 December 31, 2021 Molecular Assemblies, Inc. (“MAI”) $ 13,921 $ 12,713 seqWell 5,000 — Arzeda 1,289 1,289 Other investments in non-marketable equity securities 300 — Total non-marketable equity securities $ 20,510 $ 14,002

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Summary of Financial Instruments Measured at Fair Value on a Recurring Basis	The following tables present the financial instruments that were measured at fair value on a recurring basis within the fair value hierarchy (in thousands): September 30, 2022 Level 1 Level 2 Level 3 Total Money market funds $ 83,599 $ — $ — $ 83,599 December 31, 2021 Level 1 Level 2 Level 3 Total Money market funds $ 86,095 $ — $ — $ 86,095

Balance Sheets Details (Tables)

Balance Sheets Details (Tables)	9 Months Ended
	Sep. 30, 2022
Balance Sheets Details [Abstract]
Schedule of Cash and Cash Equivalents	Cash equivalents as of September 30, 2022 and December 31, 2021, consisted of the following (in thousands): September 30, 2022 December 31, 2021 Adjusted Cost Estimated Fair Value Adjusted Cost Estimated Fair Value Money market funds (1) $ 83,599 $ 83,599 $ 86,095 $ 86,095 (1) Money market funds are classified in cash and cash equivalents on our unaudited consolidated balance sheets. Average contractual maturities (in days) is not applicable.
Schedule of Inventory Components	Inventories consisted of the following (in thousands): September 30, 2022 December 31, 2021 Raw materials $ 49 $ 49 Work-in-process 22 65 Finished goods 1,552 1,046 Inventories $ 1,623 $ 1,160
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): September 30, 2022 December 31, 2021 Laboratory equipment $ 39,355 $ 33,101 Leasehold improvements 16,617 16,117 Computer equipment and software 3,912 3,481 Office equipment and furniture 1,326 1,297 Construction in progress 1,459 3,231 Property and equipment 62,669 57,227 Less: accumulated depreciation and amortization (39,350) (35,882) Property and equipment, net $ 23,319 $ 21,345 Depreciation expense included in both research and development expenses and selling, general and administrative expenses in the unaudited condensed consolidated statements of operations was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Depreciation expense $ 1,405 $ 768 $ 3,961 $ 2,143
Schedule of Other Accrued Liabilities	Other accrued liabilities consisted of the following (in thousands): September 30, 2022 December 31, 2021 Accrued purchases $ 7,573 $ 6,755 Accrued professional and outside service fees 4,276 5,147 Other 1,143 676 Total $ 12,992 $ 12,578

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	Stock-based compensation expense is included in the unaudited condensed consolidated statements of operations as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Research and development $ 958 $ 652 $ 2,853 $ 1,726 Selling, general and administrative 3,573 2,364 8,747 6,821 Total $ 4,531 $ 3,016 $ 11,600 $ 8,547
Schedule of Stock-based Compensation Expense by Security Types	The following table presents total stock-based compensation expense by security type included in the unaudited condensed consolidated statements of operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Stock options $ 1,679 $ 693 $ 3,279 $ 2,040 RSUs and RSAs 1,290 742 3,785 1,974 PSUs 965 640 2,279 1,683 PBOs 597 941 2,257 2,850 Total $ 4,531 $ 3,016 $ 11,600 $ 8,547

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Lease Cost	Lease costs, amounts included in measurement of lease obligations and other information related to non-cancellable operating leases and finance leases were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Finance lease costs $ — $ 26 $ 18 $ 79 Operating lease cost 1,831 1,032 5,491 3,097 Short-term lease costs (1) — 30 40 40 Total lease cost (2) $ 1,831 $ 1,088 $ 5,549 $ 3,216 (1) Short-term lease costs on leases with terms of over one month and less than one year. (2) The Company had no variable lease costs. Other information: Operating Leases Weighted-average remaining lease term (in years) 7.3 years Weighted-average discount rate 5.4 % Nine Months Ended September 30, Cash paid: 2022 2021 Operating cash flows from operating leases $ 4,658 $ 3,145
Operating Lease Maturity	As of September 30, 2022, our maturity analysis of annual undiscounted cash flows of the non-cancellable operating leases are as follows (in thousands): Years ending December 31, Operating Leases 2022 (remaining 3 months) $ 1,847 2023 7,568 2024 7,783 2025 8,004 2026 8,232 2027 and thereafter 20,706 Total minimum lease payments 54,140 Less: imputed interest 9,255 Lease obligations $ 44,885 Reconciliation of operating lease liabilities as shown within the unaudited condensed consolidated balance sheets Current portion of lease obligations - Operating leases $ 5,230 Long-term lease obligations - Operating leases 39,655 Total operating lease liabilities $ 44,885
Schedule of Supply and Service Commitments	The following table provides quantitative data regarding our other commitments. Future minimum payments reflect amounts that we expect to pay including potential obligations under services agreements subject to risk of cancellation by us (in thousands): Payments Due by Period Total 2022 (Remaining 3 Months) 2023 2024 2025 and Thereafter Development and manufacturing services agreements $ 2,866 $ 1,770 $ 991 $ 105 $ — Facility maintenance agreement 1,608 — 1,608 — — Total other commitments $ 4,474 $ 1,770 $ 2,599 $ 105 $ —

Segment, Geographical and Oth_2

Segment, Geographical and Other Revenue Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting	The following table provides financial information by our reportable business segments along with a reconciliation to consolidated income (loss) before income taxes (in thousands): Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total Revenues: Product revenue $ 28,042 $ — $ 28,042 $ 28,731 $ — $ 28,731 Research and development revenue 3,104 3,324 6,428 3,853 4,185 8,038 Total revenues 31,146 3,324 34,470 32,584 4,185 36,769 Costs and operating expenses: Cost of product revenue 9,786 — 9,786 6,867 — 6,867 Research and development (1) 6,782 13,855 20,637 5,670 8,850 14,520 Selling, general and administrative (1) 3,791 888 4,679 3,306 831 4,137 Total segment costs and operating expenses 20,359 14,743 35,102 15,843 9,681 25,524 Income (loss) from operations $ 10,787 $ (11,419) (632) $ 16,741 $ (5,496) 11,245 Corporate costs (2) (7,947) (8,097) Unallocated depreciation and amortization (1,405) (794) Income (loss) before income taxes $ (9,984) $ 2,354 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Performance Enzymes Novel Biotherapeutics Total Performance Enzymes Novel Biotherapeutics Total Revenues: Product revenue $ 93,376 $ — $ 93,376 $ 53,674 $ — $ 53,674 Research and development revenue 7,398 7,441 14,839 14,723 11,856 26,579 Total revenues 100,774 7,441 108,215 68,397 11,856 80,253 Costs and operating expenses: Cost of product revenue 29,577 — 29,577 15,403 — 15,403 Research and development (1) 19,833 37,279 57,112 17,172 20,649 37,821 Selling, general and administrative (1) 11,208 2,288 13,496 9,294 2,052 11,346 Total segment costs and operating expenses 60,618 39,567 100,185 41,869 22,701 64,570 Income (loss) from operations $ 40,156 $ (32,126) 8,030 $ 26,528 $ (10,845) 15,683 Corporate costs (2) (24,940) (24,431) Unallocated depreciation and amortization (3,953) (2,220) Loss before income taxes $ (20,863) $ (10,968) (1) Research and development expenses and selling, general and administrative expenses exclude depreciation and amortization of finance leases. (2) Corporate costs include unallocated selling, general and administrative expenses, interest income, and other income, net. The following table provides stock-based compensation expense in cluded in income (loss) from operations (in thousands): Three Months Ended September 30, 2022 2021 Performance Enzymes Novel Biotherapeutics Corporate cost Total Performance Enzymes Novel Biotherapeutics Corporate cost Total Stock-based compensation $ 1,382 $ 414 $ 2,735 $ 4,531 $ 1,228 $ 272 $ 1,516 $ 3,016 Nine Months Ended September 30, 2022 2021 Performance Enzymes Novel Biotherapeutics Corporate cost Total Performance Enzymes Novel Biotherapeutics Corporate cost Total Stock-based compensation $ 4,151 $ 1,182 $ 6,267 $ 11,600 $ 3,337 $ 767 $ 4,443 $ 8,547
Schedule of Customers that Contributed 10% or More of Total Accounts Receivable	Significant Customers Customers that each accounted for 10% or more of our total revenues were as follows: Percentage of Total Revenues for the Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Customer A 39 % 51 % 54 % 29 % Customer B * * * 12 % Customer C 13 % * * 10 % * Percentage was less than 10% Customers that each accounted for 10% or more of accounts receivable balances as of the periods presented as follows: Percentage of Accounts Receivables as of September 30, 2022 December 31, 2021 Customer A 21 % 62 % Customer B 16 % * Customer D 14 % *
Schedule of Revenues by Geographical Area	Geographic revenues are identified by the location of the customer and consist of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Revenues Americas $ 4,822 $ 7,816 $ 12,167 $ 18,588 EMEA 5,987 4,685 14,805 17,135 APAC 23,661 24,268 81,243 44,530 Total revenues $ 34,470 $ 36,769 $ 108,215 $ 80,253
Schedule of Long-Lived Assets by Geographical Area	Identifiable long-lived assets by location was as follows (in thousands): September 30, 2022 December 31, 2021 United States $ 63,812 $ 65,457
Schedule of Intangible Assets and Goodwill	Identifiable goodwill by reporting unit was as follows (in thousands): As of September 30, 2022 and December 31, 2021 Performance Enzymes Novel Biotherapeutics Total Goodwill $ 2,463 $ 778 $ 3,241

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Analysis of Allowance for Credit Losses	The following table summarizes the financial assets allowance for credit losses (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Balance at beginning of period $ 109 $ 74 $ 416 $ 74 Provision for credit losses — — — — Write-offs — — (257) — Adjustment to the existing allowance — — (50) — Balance at end of period $ 109 $ 74 $ 109 $ 74
Summary of Accounts Receivable by Aging	The following tables summarize accounts receivable by aging category (in thousands): September 30, 2022 Current 31-60 Days 61-90 Days 91 Days and over Total over 31 Days Total balance Accounts receivable $ 13,044 $ 1,941 $ 345 $ 1,197 $ 3,483 $ 16,527 December 31, 2021 Current 31-60 Days 61-90 Days 91 Days and over Total over 31 Days Total balance Accounts receivable $ 22,697 $ 536 $ 569 $ 1,151 $ 2,256 $ 24,953

Description of Business (Detail

Description of Business (Details)	9 Months Ended
	Sep. 30, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 34,470	$ 36,769	$ 108,215	$ 80,253
Americas
Disaggregation of Revenue [Line Items]
Total revenues	4,822	7,816	12,167	18,588
EMEA
Disaggregation of Revenue [Line Items]
Total revenues	5,987	4,685	14,805	17,135
APAC
Disaggregation of Revenue [Line Items]
Total revenues	23,661	24,268	81,243	44,530
Product revenue
Disaggregation of Revenue [Line Items]
Total revenues	28,042	28,731	93,376	53,674
Research and development revenue
Disaggregation of Revenue [Line Items]
Total revenues	6,428	8,038	14,839	26,579
Performance Enzymes
Disaggregation of Revenue [Line Items]
Total revenues	31,146	32,584	100,774	68,397
Performance Enzymes | Americas
Disaggregation of Revenue [Line Items]
Total revenues	3,654	5,999	8,514	12,573
Performance Enzymes | EMEA
Disaggregation of Revenue [Line Items]
Total revenues	3,831	2,317	11,017	11,294
Performance Enzymes | APAC
Disaggregation of Revenue [Line Items]
Total revenues	23,661	24,268	81,243	44,530
Performance Enzymes | Product revenue
Disaggregation of Revenue [Line Items]
Total revenues	28,042	28,731	93,376	53,674
Performance Enzymes | Research and development revenue
Disaggregation of Revenue [Line Items]
Total revenues	3,104	3,853	7,398	14,723
Novel Biotherapeutics
Disaggregation of Revenue [Line Items]
Total revenues	3,324	4,185	7,441	11,856
Novel Biotherapeutics | Americas
Disaggregation of Revenue [Line Items]
Total revenues	1,168	1,817	3,653	6,015
Novel Biotherapeutics | EMEA
Disaggregation of Revenue [Line Items]
Total revenues	2,156	2,368	3,788	5,841
Novel Biotherapeutics | APAC
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Novel Biotherapeutics | Product revenue
Disaggregation of Revenue [Line Items]
Total revenues	0	0	0	0
Novel Biotherapeutics | Research and development revenue
Disaggregation of Revenue [Line Items]
Total revenues	$ 3,324	$ 4,185	$ 7,441	$ 11,856

Revenue Recognition - Contracts

Revenue Recognition - Contracts with Customer (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract assets	$ 5,867	$ 4,557
Unbilled receivables	7,490	8,558
Contract costs	28	56
Contract liabilities: deferred revenue	$ 9,840	$ 6,335

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Aug. 31, 2022
Revenue from Contract with Customer [Abstract]
Impairment charges related to contract assets		$ 0	$ 0	$ 0	$ 0
Retainer fee						$ 25,900,000
Revenue recognized	$ 19,400,000

Revenue Recognition - Revenue R

Revenue Recognition - Revenue Recognized During Period (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Amounts included in contract liabilities at the beginning of the period:
Performance obligations satisfied	$ 889	$ 658	$ 1,694	$ 1,997
Changes in the period:
Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods	495	1,521	365	5,848
Performance obligations satisfied from new activities in the period - contract revenue	33,086	34,590	106,156	72,408
Total revenues	$ 34,470	$ 36,769	$ 108,215	$ 80,253

Revenue Recognition - Performan

Revenue Recognition - Performance Obligation (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Performance obligation	$ 9,840
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 428
Expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 1,174
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 5,276
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 2,962
Expected timing of satisfaction, period
Product revenue
Disaggregation of Revenue [Line Items]
Performance obligation	$ 8,370
Product revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 5
Expected timing of satisfaction, period	3 months
Product revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 127
Expected timing of satisfaction, period	1 year
Product revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 5,276
Expected timing of satisfaction, period	1 year
Product revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 2,962
Expected timing of satisfaction, period
Research and development revenue
Disaggregation of Revenue [Line Items]
Performance obligation	$ 1,470
Research and development revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 423
Expected timing of satisfaction, period	3 months
Research and development revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 1,047
Expected timing of satisfaction, period	1 year
Research and development revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 0
Expected timing of satisfaction, period	1 year
Research and development revenue | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Disaggregation of Revenue [Line Items]
Performance obligation	$ 0
Expected timing of satisfaction, period

Net Income (Loss) per Share - S

Net Income (Loss) per Share - Schedule of Earnings (Loss) Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net income (loss)	$ (9,992)	$ 2,244	$ (20,988)	$ (11,089)
Denominator:
Weighted average common stock shares used in computing net income (loss) per share, basic (in shares)	65,426	64,628	65,271	64,452
Effect of diluted shares (in shares)	0	3,113	0	0
Weighted average common stock shares used in computing net income (loss) per share, diluted (in shares)	65,426	67,741	65,271	64,452
Net income (loss) per share, basic (in dollars per share)	$ (0.15)	$ 0.03	$ (0.32)	$ (0.17)
Net income (loss) per share, diluted (in dollars per share)	$ (0.15)	$ 0.03	$ (0.32)	$ (0.17)

Net Income (Loss) per Share -_2

Net Income (Loss) per Share - Shares Not Included in Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Shares issuable under the Equity Incentive Plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded as anti-dilutive (shares)	6,604	451	6,604	5,148

Investments in Non-Marketable_3

Investments in Non-Marketable Securities - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Nov. 30, 2020
Marketable Securities [Line Items]
Available-for-sale non-marketable interest-bearing debt securities		$ 0		$ 0			$ 0	$ 1,000,000
Non-marketable debt security at carrying value								$ 1,300,000
Interest income from amortization of discount			$ 0		$ 300,000
Unrealized gain on non-marketable securities				208,000	1,033,000
Equity securities without readily determinable fair value, upward price adjustment, annual amount		200,000	700,000
Equity securities without readily determinable fair value, upward (downward) price adjustment, annual amount		0	$ 0	0	$ 0
seqWell
Marketable Securities [Line Items]
Equity securities without readily determinable fair value (in shares)						1,000,000
Investment in non-marketable equity securities		$ 5,000,000		$ 5,000,000		$ 5,000,000	$ 0
Series B-2 Preferred Stock
Marketable Securities [Line Items]
Non-marketable debt security (in shares)	207,070
Series B Preferred Stock
Marketable Securities [Line Items]
Milestone payments received (in shares)		1,587,049

Investments in Non-Marketable_4

Investments in Non-Marketable Securities - Carrying Value and Fair Value of Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Total non-marketable equity securities
Marketable Securities [Line Items]
Investment in non-marketable equity securities	$ 20,510		$ 14,002
Molecular Assemblies, Inc. (“MAI”)
Marketable Securities [Line Items]
Investments and other noncurrent assets, with related party	13,921		12,713
seqWell
Marketable Securities [Line Items]
Investment in non-marketable equity securities	5,000	$ 5,000	0
Arzeda
Marketable Securities [Line Items]
Investment in non-marketable equity securities	1,289		1,289
Other investments in non-marketable equity securities
Marketable Securities [Line Items]
Investment in non-marketable equity securities	$ 300		$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Convertible Debt
Summary of financial instruments measured at fair value on a recurring basis
Credit losses	$ 0	$ 0	$ 0	$ 0
Other-than-temporary impairment losses	0	$ 0	0	$ 0
Money Market Funds
Summary of financial instruments measured at fair value on a recurring basis
Money market funds	83,599,000		83,599,000		$ 86,095,000
Level 1 | Money Market Funds
Summary of financial instruments measured at fair value on a recurring basis
Money market funds	83,599,000		83,599,000		86,095,000
Level 2 | Money Market Funds
Summary of financial instruments measured at fair value on a recurring basis
Money market funds	0		0		0
Level 3 | Money Market Funds
Summary of financial instruments measured at fair value on a recurring basis
Money market funds	$ 0		$ 0		$ 0

Balance Sheets Details - Cash a

Balance Sheets Details - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Cash and Cash Equivalents [Line Items]
Adjusted Cost	$ 108,689	$ 116,797	$ 119,189
Money Market Funds
Cash and Cash Equivalents [Line Items]
Adjusted Cost	83,599	86,095
Estimated Fair Value	83,599	86,095
Cash
Cash and Cash Equivalents [Line Items]
Adjusted Cost	$ 25,100	$ 30,700

Balance Sheets Details - Invent

Balance Sheets Details - Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Schedule of Inventory Components
Raw materials	$ 49	$ 49
Work-in-process	22	65
Finished goods	1,552	1,046
Inventories	1,623	1,160
Inventory reserves	$ 1,300	$ 1,400

Balance Sheets Details - Proper

Balance Sheets Details - Property and Equipment, net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment	$ 62,669		$ 62,669		$ 57,227
Less: accumulated depreciation and amortization	(39,350)		(39,350)		(35,882)
Property and equipment, net	23,319		23,319		21,345
Depreciation	1,405	$ 768	3,961	$ 2,143
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property and equipment	39,355		39,355		33,101
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	16,617		16,617		16,117
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment	3,912		3,912		3,481
Office equipment and furniture
Property, Plant and Equipment [Line Items]
Property and equipment	1,326		1,326		1,297
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,459		$ 1,459		$ 3,231

Balance Sheets Details - Goodwi

Balance Sheets Details - Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Balance Sheet Details [Abstract]
Goodwill	$ 3,241	$ 3,241

Balance Sheets Details - Other

Balance Sheets Details - Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Balance Sheets Details [Abstract]
Accrued purchases	$ 7,573	$ 6,755
Accrued professional and outside service fees	4,276	5,147
Other	1,143	676
Total	$ 12,992	$ 12,578

Stock-based Compensation - Equi

Stock-based Compensation - Equity Incentive Plans (Details) - 2019 Plan - shares	Jun. 30, 2019	Apr. 22, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant		7,897,144
Maximum number of shares to be issued upon exercise of stock options		14,000,000
Number of shares authorized	8,100,000

Stock-based Compensation - Stoc

Stock-based Compensation - Stock Options (Details)	9 Months Ended
	Sep. 30, 2022
Incentive Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock	100%
Non-Statutory Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock	85%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of voting interests	10%
Purchase price of common stock above minimum threshold	110%
Award vesting period	4 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
Stock Options | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Award vesting rights	25%
Stock Options | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Award vesting rights	75%

Stock-based Compensation - Rest

Stock-based Compensation - Restricted Stock Units (Details) - RSUs	9 Months Ended
	Sep. 30, 2022
Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Award vesting rights	33%
Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Award vesting rights	25%

Stock-based Compensation - PSUs

Stock-based Compensation - PSUs and PBOs (Details) - Performance Shares - installment	3 Months Ended		9 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of installments			2
Performance awards, threshold level, number of shares, multiplier			0
Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights	50%	50%	50%
Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights	50%		50%
2022 PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated performance goal achievement rate			97%
2022 PBO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated performance goal achievement rate			49%
2021 PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated performance goal achievement rate	146%
2021 PBO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated performance goal achievement rate	73%
2020 PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated performance goal achievement rate		88%
2020 PBO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated performance goal achievement rate		44%

Stock-based Compensation - St_2

Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 4,531	$ 3,016	$ 11,600	$ 8,547
Stock-based compensation expense	1,000		1,000
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	1,679	693	3,279	2,040
Compensation not yet recognized, stock options	6,700		6,700
RSUs and RSAs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	1,290	742	3,785	1,974
Compensation not yet recognized, share-based awards other than options	7,500		7,500
PSUs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	965	640	2,279	1,683
Compensation not yet recognized, share-based awards other than options	2,900		2,900
PBOs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	597	941	2,257	2,850
Compensation not yet recognized, share-based awards other than options	1,700		1,700
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	958	652	2,853	1,726
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 3,573	$ 2,364	$ 8,747	$ 6,821

Capital Stock (Details)

Capital Stock (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	May 31, 2021	Sep. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Subsidiary, Sale of Stock [Line Items]
Stock options exercised (shares)			252,100	422,964
Weighted average exercise price of stock options exercised (usd per share)			$ 2.43	$ 6.45
Proceeds from exercises of stock options			$ 612,000	$ 2,700,000
PSC
Subsidiary, Sale of Stock [Line Items]
Sale period	3 years
Value of shares for issuance		$ 50,000,000	$ 50,000,000
Commissions as percentage of gross sales price	3%
Shares issued (in shares)		0	0
PSC | Maximum
Subsidiary, Sale of Stock [Line Items]
Value of shares for issuance	$ 50,000,000
Commissions and reimbursements of expenses as percentage of gross sales price	8%

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)		1 Months Ended
	Jun. 30, 2017 USD ($)	Jan. 31, 2021 USD ($) ft² reporting_unit	Sep. 30, 2022 USD ($) ft² renewal_option	Dec. 31, 2021 USD ($)
Commitments and Contingencies [Line Items]
Area of real estate property (in square feet) | ft²			77,300
Number of options to extend | renewal_option			1
Asset retirement obligations			$ 500,000	$ 400,000
Future lease commitment			54,140,000
Indemnification Agreement
Commitments and Contingencies [Line Items]
Loss contingency accrual			0
Term Loan
Commitments and Contingencies [Line Items]
Borrowing capacity	$ 10,000,000
Revolving Credit Facility
Commitments and Contingencies [Line Items]
Borrowing capacity	$ 5,000,000
Accounts receivable, borrowing base percentage	80%
Stated interest rate	4.25%
Revolving Credit Facility | Prime Rate
Commitments and Contingencies [Line Items]
Basis spread on variable rate	1%
Demand Deposits
Commitments and Contingencies [Line Items]
Non-current restricted cash			$ 1,100,000	$ 1,100,000
200-220 Penobscot
Commitments and Contingencies [Line Items]
Area of real estate property (in square feet) | ft²			28,200
400 Penobscot
Commitments and Contingencies [Line Items]
Area of real estate property (in square feet) | ft²			37,900
Renewal term			5 years
501 Chesapeake
Commitments and Contingencies [Line Items]
Area of real estate property (in square feet) | ft²			11,200
Number of options to extend | renewal_option			1
Renewal term			5 years
San Carlos
Commitments and Contingencies [Line Items]
Area of real estate property (in square feet) | ft²		36,593
Number of options to extend | reporting_unit		1
Annualized rent		$ 2,500,000
Annual rent increases		3%
Lease term		10 years
Renewal term		5 years
Security deposit		$ 500,000
San Carlos | Asset under Construction
Commitments and Contingencies [Line Items]
Annualized rent		$ 400,000

Commitments and Contingencies_2

Commitments and Contingencies - Lease Cost (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Lease, Cost [Abstract]
Finance lease costs	$ 0	$ 26,000	$ 18,000	$ 79,000
Operating lease cost	1,831,000	1,032,000	5,491,000	3,097,000
Short-term lease costs	0	30,000	40,000	40,000
Total lease cost	1,831,000	1,088,000	5,549,000	3,216,000
Variable lease cost	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies_3

Commitments and Contingencies - Other Lease Information (Details)	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term (in years)	7 years 3 months 18 days
Weighted-average discount rate	5.40%

Commitments and Contingencies_4

Commitments and Contingencies - Cash Paid for Lease Obligations (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating cash flows from operating leases	$ 4,658	$ 3,145

Commitments and Contingencies_5

Commitments and Contingencies - Maturity Analysis of Operating Lease (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Operating Leases
2022 (remaining 3 months)	$ 1,847
2023	7,568
2024	7,783
2025	8,004
2026	8,232
2027 and thereafter	20,706
Total minimum lease payments	54,140
Less: imputed interest	9,255
Lease obligations	44,885
Current portion of lease obligations - Operating leases	5,230	$ 4,093
Long-term lease obligations - Operating leases	$ 39,655	$ 43,561

Commitments and Contingencies_6

Commitments and Contingencies - Other Commitments (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Other Commitments [Line Items]
Total	$ 4,474
2022 (Remaining 3 Months)	1,770
2023	2,599
2024	105
2025 and Thereafter	0
Development and manufacturing services agreements
Other Commitments [Line Items]
Total	2,866
2022 (Remaining 3 Months)	1,770
2023	991
2024	105
2025 and Thereafter	0
Facility maintenance agreement
Other Commitments [Line Items]
Total	1,608
2022 (Remaining 3 Months)	0
2023	1,608
2024	0
2025 and Thereafter	$ 0

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	1 Months Ended				3 Months Ended		9 Months Ended
	Jul. 31, 2022	Sep. 30, 2021	Apr. 30, 2021	Jun. 30, 2020	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Sep. 30, 2020
Related Party Transaction [Line Items]
Payments to acquire other investments							$ 5,300,000	$ 7,630,000
Investment at cost basis					$ 20,510,000		20,510,000		$ 14,002,000
Deferred revenue					9,840,000		9,840,000		6,335,000
Affiliated Entity
Related Party Transaction [Line Items]
Investment at cost basis					13,921,000		13,921,000		12,713,000
Molecular Assemblies, Inc. (“MAI”)
Related Party Transaction [Line Items]
Deferred revenue					0		0		$ 200,000
Molecular Assemblies, Inc. (“MAI”) | MAI Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Due from related parties, shares (in shares)	1,587,049			1,587,049
Milestone payment received	$ 1,000,000
Molecular Assemblies, Inc. (“MAI”) | MCRA
Related Party Transaction [Line Items]
Revenue from transactions with MAI					1,000,000	$ 200,000	1,200,000	$ 700,000
Molecular Assemblies, Inc. (“MAI”) | MCRA | Product revenue
Related Party Transaction [Line Items]
Revenue from transactions with MAI					$ 200,000		$ 400,000
MAI Agreement | MAI Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Due from related parties										$ 1,000,000
Series A Preferred Stock | Molecular Assemblies, Inc. (“MAI”) | MCRA
Related Party Transaction [Line Items]
Number of shares received in exchange for services (in shares)							18,292,369
Series A Preferred Stock | Molecular Assemblies, Inc. (“MAI”) | MCRA
Related Party Transaction [Line Items]
Number of shares received in exchange for services (in shares)					1,587,049	476,114	1,587,049	1,904,456
Series B Preferred Stock | Molecular Assemblies, Inc. (“MAI”) | MCRA
Related Party Transaction [Line Items]
Number of shares received in exchange for services (in shares)					1,587,049		1,587,049
Molecular Assemblies, Inc. (“MAI”) | Series A Preferred Stock
Related Party Transaction [Line Items]
Number of shares purchased (in shares)			1,000,000							1,587,050
Payments to acquire other investments			$ 600,000	$ 1,000,000
Molecular Assemblies, Inc. (“MAI”) | Series B Preferred Stock
Related Party Transaction [Line Items]
Number of shares purchased (in shares)		9,198,423				9,198,423		9,198,423
Payments to acquire other investments		$ 7,000,000

Segment, Geographical and Oth_3

Segment, Geographical and Other Revenue Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segment, Geographical and Oth_4

Segment, Geographical and Other Revenue Information - Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 34,470	$ 36,769	$ 108,215	$ 80,253
Cost of product revenue	9,786	6,867	29,577	15,403
Research and development	21,821	15,165	60,410	39,562
Selling, general and administrative	13,499	13,407	39,859	37,600
Total costs and operating expenses	45,106	35,439	129,846	92,565
Income (loss) from operations	(10,636)	1,330	(21,631)	(12,312)
Unallocated depreciation and amortization	(1,405)	(768)	(3,961)	(2,143)
Stock-based compensation	4,531	3,016	11,600	8,547
Performance Enzymes
Segment Reporting Information [Line Items]
Total revenues	31,146	32,584	100,774	68,397
Novel Biotherapeutics
Segment Reporting Information [Line Items]
Total revenues	3,324	4,185	7,441	11,856
Product revenue
Segment Reporting Information [Line Items]
Total revenues	28,042	28,731	93,376	53,674
Product revenue | Performance Enzymes
Segment Reporting Information [Line Items]
Total revenues	28,042	28,731	93,376	53,674
Product revenue | Novel Biotherapeutics
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Research and development revenue
Segment Reporting Information [Line Items]
Total revenues	6,428	8,038	14,839	26,579
Research and development revenue | Performance Enzymes
Segment Reporting Information [Line Items]
Total revenues	3,104	3,853	7,398	14,723
Research and development revenue | Novel Biotherapeutics
Segment Reporting Information [Line Items]
Total revenues	3,324	4,185	7,441	11,856
Operating segments
Segment Reporting Information [Line Items]
Total revenues	34,470	36,769	108,215	80,253
Cost of product revenue	9,786	6,867	29,577	15,403
Research and development	20,637	14,520	57,112	37,821
Selling, general and administrative	4,679	4,137	13,496	11,346
Total costs and operating expenses	35,102	25,524	100,185	64,570
Income (loss) from operations	(632)	11,245	8,030	15,683
Stock-based compensation	4,531	3,016	11,600	8,547
Operating segments | Performance Enzymes
Segment Reporting Information [Line Items]
Total revenues	31,146	32,584	100,774	68,397
Cost of product revenue	9,786	6,867	29,577	15,403
Research and development	6,782	5,670	19,833	17,172
Selling, general and administrative	3,791	3,306	11,208	9,294
Total costs and operating expenses	20,359	15,843	60,618	41,869
Income (loss) from operations	10,787	16,741	40,156	26,528
Stock-based compensation	1,382	1,228	4,151	3,337
Operating segments | Novel Biotherapeutics
Segment Reporting Information [Line Items]
Total revenues	3,324	4,185	7,441	11,856
Cost of product revenue	0	0	0	0
Research and development	13,855	8,850	37,279	20,649
Selling, general and administrative	888	831	2,288	2,052
Total costs and operating expenses	14,743	9,681	39,567	22,701
Income (loss) from operations	(11,419)	(5,496)	(32,126)	(10,845)
Stock-based compensation	414	272	1,182	767
Operating segments | Product revenue
Segment Reporting Information [Line Items]
Total revenues	28,042	28,731	93,376	53,674
Operating segments | Research and development revenue
Segment Reporting Information [Line Items]
Total revenues	6,428	8,038	14,839	26,579
Corporate, non-segment
Segment Reporting Information [Line Items]
Total costs and operating expenses	(7,947)	(8,097)	(24,940)	(24,431)
Unallocated depreciation and amortization	(1,405)	(794)	(3,953)	(2,220)
Income (loss) before income taxes	(9,984)	2,354	(20,863)	(10,968)
Stock-based compensation	$ 2,735	$ 1,516	$ 6,267	$ 4,443

Segment, Geographical and Oth_5

Segment, Geographical and Other Revenue Information - Concentration Risk (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Revenue, Product and Service Benchmark | Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	39%	51%	54%	29%
Revenue, Product and Service Benchmark | Customer B
Concentration Risk [Line Items]
Concentration risk, percentage				12%
Revenue, Product and Service Benchmark | Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	13%			10%
Accounts Receivable | Customer A
Concentration Risk [Line Items]
Concentration risk, percentage			21%		62%
Accounts Receivable | Customer B
Concentration Risk [Line Items]
Concentration risk, percentage			16%
Accounts Receivable | Customer C
Concentration Risk [Line Items]
Concentration risk, percentage			14%

Segment, Geographical and Oth_6

Segment, Geographical and Other Revenue Information - Revenues by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 34,470	$ 36,769	$ 108,215	$ 80,253
Americas
Segment Reporting Information [Line Items]
Total revenues	4,822	7,816	12,167	18,588
EMEA
Segment Reporting Information [Line Items]
Total revenues	5,987	4,685	14,805	17,135
APAC
Segment Reporting Information [Line Items]
Total revenues	$ 23,661	$ 24,268	$ 81,243	$ 44,530

Segment, Geographical and Oth_7

Segment, Geographical and Other Revenue Information - Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
United States
Geographic Areas, Long-Lived Assets [Abstract]
Long-lived assets	$ 63,812	$ 65,457

Segment, Geographical and Oth_8

Segment, Geographical and Other Revenue Information - Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Goodwill	$ 3,241	$ 3,241
Operating Segments
Segment Reporting Information [Line Items]
Goodwill	3,241	3,241
Operating Segments | Performance Enzymes
Segment Reporting Information [Line Items]
Goodwill	2,463	2,463
Operating Segments | Novel Biotherapeutics
Segment Reporting Information [Line Items]
Goodwill	$ 778	$ 778

Allowance for Credit Losses - A

Allowance for Credit Losses - Analysis of Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Allowance for Credit Loss
Balance at beginning of period	$ 109	$ 74	$ 416	$ 74
Provision for credit losses	0	0	0	0
Write-offs	0	0	(257)	0
Adjustment to the existing allowance	0	0	(50)	0
Balance at end of period	$ 109	$ 74	$ 109	$ 74

Allowance for Credit Losses - S

Allowance for Credit Losses - Summary of Finance Receivables by Aging Category (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounts receivable	$ 16,527	$ 24,953
Current
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounts receivable	13,044	22,697
31-60 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounts receivable	1,941	536
61-90 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounts receivable	345	569
91 Days and over
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounts receivable	1,197	1,151
Total over 31 Days
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounts receivable	$ 3,483	$ 2,256