Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2022 | Jul. 25, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001738021 | |
Entity Registrant Name | Compass Therapeutics, Inc. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-39696 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 82-4876496 | |
Entity Address, Address Line One | 80 Guest St., Suite 601 | |
Entity Address, City or Town | Boston | |
Entity Address, State or Province | MA | |
Entity Address, Postal Zip Code | 02135 | |
City Area Code | 617 | |
Local Phone Number | 500-8099 | |
Title of 12(b) Security | Common Stock, $0.0001 par value per share | |
Trading Symbol | CMPX | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 101,284,613 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 26,238 | $ 144,514 |
Marketable securities | 105,780 | 0 |
Prepaid expenses and other current assets | 2,527 | 2,591 |
Total current assets | 134,545 | 147,105 |
Property and equipment, net | 1,850 | 2,243 |
Operating lease, right-of-use ("ROU") asset | 3,541 | 4,089 |
Other assets | 320 | 320 |
Total assets | 140,256 | 153,757 |
Current liabilities: | ||
Accounts payable | 6,532 | 867 |
Accrued expenses | 3,301 | 8,775 |
Operating lease obligations, current portion | 1,051 | 989 |
Total current liabilities | 10,884 | 10,631 |
Operating lease obligations, long-term portion | 2,444 | 3,048 |
Total liabilities | 13,328 | 13,679 |
Stockholders' equity: | ||
Common stock, $0.0001 par value: 300,000 shares authorized; 101,284 and 101,303 shares issued at June 30, 2022 and December 31, 2021, respectively; 100,968 and 100,832 shares outstanding at June 30, 2022 and December 31, 2021, respectively | 10 | 10 |
Additional paid-in-capital | 376,675 | 373,657 |
Accumulated other comprehensive loss | (512) | 0 |
Accumulated deficit | (249,245) | (233,589) |
Total stockholders' equity | 126,928 | 140,078 |
Total liabilities and stockholders' equity | $ 140,256 | $ 153,757 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 300,000 | 300,000 |
Common stock, shares issued (in shares) | 101,284 | 101,303 |
Common stock, shares outstanding (in shares) | 100,968 | 100,832 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Operating expenses: | ||||
Research and development | $ 5,862 | $ 2,905 | $ 10,278 | $ 7,609 |
General and administrative | 3,125 | 2,166 | 5,891 | 4,798 |
In-process R&D | 0 | 50,618 | 0 | 50,618 |
Total operating expenses | 8,987 | 55,689 | 16,169 | 63,025 |
Loss from operations | (8,987) | (55,689) | (16,169) | (63,025) |
Other income (expense), net | 493 | (102) | 513 | (185) |
Loss before income tax expense | (8,494) | (55,791) | (15,656) | (63,210) |
Income tax expense | 0 | (13) | 0 | (13) |
Net loss | $ (8,494) | $ (55,804) | $ (15,656) | $ (63,223) |
Net loss per share - basic and diluted (in dollars per share) | $ (0.08) | $ (1.07) | $ (0.16) | $ (1.23) |
Basic and diluted weighted average shares outstanding (in shares) | 100,947 | 51,913 | 100,903 | 51,582 |
Other comprehensive loss: | ||||
Net loss | $ (8,494) | $ (55,804) | $ (15,656) | $ (63,223) |
Unrealized loss on marketable securities | (512) | 0 | (512) | 0 |
Comprehensive loss | $ (9,006) | $ (55,804) | $ (16,168) | $ (63,223) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock Outstanding [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 51,221 | ||||
Balance at Dec. 31, 2020 | $ 5 | $ 191,348 | $ 0 | $ (151,408) | $ 39,945 |
Vesting of share-based awards (in shares) | 92 | ||||
Vesting of share-based awards | $ 0 | 0 | 0 | 0 | 0 |
Stock-based compensation | 0 | 948 | 0 | 0 | 948 |
Net loss | $ 0 | 0 | 0 | (7,422) | (7,422) |
Balance (in shares) at Mar. 31, 2021 | 51,313 | ||||
Balance at Mar. 31, 2021 | $ 5 | 192,296 | 0 | (158,830) | 33,471 |
Balance (in shares) at Dec. 31, 2020 | 51,221 | ||||
Balance at Dec. 31, 2020 | $ 5 | 191,348 | 0 | (151,408) | 39,945 |
Net loss | (63,223) | ||||
Unrealized loss on marketable securities | 0 | ||||
Balance (in shares) at Jun. 30, 2021 | 61,666 | ||||
Balance at Jun. 30, 2021 | $ 6 | 243,503 | 0 | (214,634) | 28,875 |
Balance (in shares) at Mar. 31, 2021 | 51,313 | ||||
Balance at Mar. 31, 2021 | $ 5 | 192,296 | 0 | (158,830) | 33,471 |
Vesting of share-based awards (in shares) | 88 | ||||
Vesting of share-based awards | $ 0 | 0 | 0 | 0 | 0 |
Stock-based compensation | 0 | 908 | 0 | 0 | 908 |
Net loss | $ 0 | 0 | 0 | (55,804) | (55,804) |
Unrealized loss on marketable securities | 0 | ||||
Balance (in shares) at Jun. 30, 2021 | 61,666 | ||||
Balance at Jun. 30, 2021 | $ 6 | 243,503 | 0 | (214,634) | 28,875 |
Common shares issued for TRIGR acquisition (in shares) | 10,265 | ||||
Common shares issued for TRIGR acquisition | $ 1 | 50,299 | 0 | 0 | 50,300 |
Balance (in shares) at Dec. 31, 2021 | 100,832 | ||||
Balance at Dec. 31, 2021 | $ 10 | 373,657 | 0 | (233,589) | 140,078 |
Vesting of share-based awards (in shares) | 73 | ||||
Vesting of share-based awards | $ 0 | 0 | 0 | 0 | 0 |
Stock-based compensation | 0 | 1,574 | 0 | 0 | 1,574 |
Net loss | $ 0 | 0 | 0 | (7,162) | (7,162) |
Balance (in shares) at Mar. 31, 2022 | 100,905 | ||||
Balance at Mar. 31, 2022 | $ 10 | 375,231 | 0 | (240,751) | 134,490 |
Balance (in shares) at Dec. 31, 2021 | 100,832 | ||||
Balance at Dec. 31, 2021 | $ 10 | 373,657 | 0 | (233,589) | 140,078 |
Net loss | (15,656) | ||||
Unrealized loss on marketable securities | (512) | ||||
Balance (in shares) at Jun. 30, 2022 | 100,968 | ||||
Balance at Jun. 30, 2022 | $ 10 | 376,675 | (512) | (249,245) | 126,928 |
Balance (in shares) at Mar. 31, 2022 | 100,905 | ||||
Balance at Mar. 31, 2022 | $ 10 | 375,231 | 0 | (240,751) | 134,490 |
Vesting of share-based awards (in shares) | 63 | ||||
Vesting of share-based awards | $ 0 | 0 | 0 | 0 | 0 |
Stock-based compensation | 0 | 1,444 | 0 | 0 | 1,444 |
Net loss | 0 | 0 | 0 | (8,494) | (8,494) |
Unrealized loss on marketable securities | $ 0 | 0 | (512) | 0 | (512) |
Balance (in shares) at Jun. 30, 2022 | 100,968 | ||||
Balance at Jun. 30, 2022 | $ 10 | $ 376,675 | $ (512) | $ (249,245) | $ 126,928 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Mar. 31, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 20, 2021 | |
Cash flows from operating activities: | ||||||
Net loss | $ (8,494) | $ (7,162) | $ (7,422) | $ (15,656) | $ (63,223) | $ (63,223) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||
Depreciation and amortization | 385 | 304 | ||||
Gain on disposal of equipment | (69) | (70) | (44) | (44) | ||
Noncash interest expense | 0 | 22 | ||||
Share-based compensation | 3,018 | 1,856 | ||||
Amortization of premium and discount on marketable securities | 110 | 0 | ||||
Charge for in-process R&D | 0 | 0 | 50,618 | 50,618 | ||
ROU asset amortization | 548 | 518 | ||||
Changes in operating assets and liabilities: | ||||||
Prepaid expenses and other current assets | 64 | (200) | ||||
Accounts payable | 5,588 | (502) | ||||
Accrued expenses | (5,987) | (398) | ||||
Operating lease liability | (542) | (495) | ||||
Net cash used in operating activities | (12,542) | (11,544) | ||||
Cash flows from investing activities: | ||||||
Purchases of property and equipment | (131) | (424) | ||||
Purchases of marketable securities | (105,779) | 0 | ||||
Asset acquisition costs | 0 | (318) | ||||
Proceeds from sale of equipment | 176 | 115 | ||||
Net cash used in investing activities | (105,734) | (627) | ||||
Cash flows from financing activities: | ||||||
Repayment of borrowings | 0 | (3,750) | ||||
Net cash used in financing activities | 0 | (3,750) | ||||
Net change in cash, cash equivalents and restricted cash | (118,276) | (15,921) | ||||
Cash, cash equivalents and restricted cash at beginning of period | $ 144,514 | $ 47,339 | 144,514 | $ 47,339 | 47,339 | |
Cash, cash equivalents and restricted cash at end of period | $ 26,238 | 26,238 | 31,418 | |||
Supplemental disclosure of cash flow information | ||||||
Cash paid for interest | 0 | 226 | ||||
ROU asset acquired through operating leases | 0 | 5,148 | ||||
Unrealized loss on marketable securities | 512 | 0 | ||||
Acquisition of Trigr Therapeutics, Inc. | 0 | 50,300 | ||||
Fixed asset costs included in accounts payable | 77 | 0 | ||||
Purchase of securities included in accrued expenses | $ 513 | $ 0 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Nature of Business and Basis of Presentation Compass Therapeutics, Inc. (“Compass” or the “Company”) is a clinical-stage, oncology-focused biopharmaceutical company developing proprietary antibody-based therapeutics to treat multiple human diseases. Our scientific focus is on the relationship between angiogenesis and the immune system. Our pipeline includes novel product candidates that leverage our understanding of the tumor microenvironment, including both angiogenesis-targeted agents and immune-oncology focused agents. These product candidates are designed to optimize critical components required for an effective anti-tumor response to cancer. These include modulation of the microvasculature via angiogenesis-targeted agents; induction of a potent immune response via activators on effector cells in the tumor microenvironment; and alleviation of immunosuppressive mechanisms used by tumors to evade immune surveillance. We plan to advance our product candidates through clinical development as both standalone therapies and in combination with our proprietary drug candidates as long as their continued development is supported by clinical and nonclinical data. References to Compass or the Company herein include Compass Therapeutics, Inc. and its wholly-owned subsidiaries. The Company was incorporated as Olivia Ventures, Inc. (“Olivia”) in the State of Delaware on March 20, 2018. 12b 2 1934, The Company is subject to risks and uncertainties common to companies in the biotechnology and pharmaceutical industries. There can be no In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the financial statements) considered necessary to present fairly the Company’s consolidated financial position as of June 30, 2022 three six June 30, 2022 2021 six June 30, 2022 2021. six June 30, 2022 not may December 31, 2022. The unaudited condensed consolidated financial statements include the accounts of Compass Therapeutics, Inc. and its subsidiaries, and have been prepared by the Company in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet at December 31, 2021 not Annual Report on Form 10 December 31, 2021 ( Liquidity Since our inception, we have devoted substantially all of our efforts to organizing and staffing our Company, business planning, raising capital, research and development activities, building our intellectual property portfolio and providing general and administrative support for these operations. To date, we have funded our operations primarily with proceeds from the sale of our equity securities and borrowings from debt arrangements. Through June 30, 2022, June 30, 2022, second 2024. COVID- 19 We have been carefully monitoring the COVID- 19 19 19 There have been delays in sourcing of selected supplies required for the manufacturing of material to be used in our future clinical trials, and these delays have impacted and may 19 may third 19 |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies There have been no Marketable Securities Marketable securities consist of available-for-sale debt securities and are carried at fair value. Unrealized holding gains and losses are reported within other comprehensive loss in the Company's Consolidated Statements of Comprehensive Loss. Fair value is based on available market information including quoted market prices, broker or dealer quotations, or other observable inputs. Recently Adopted Accounting Pronouncements The Company adopted ASU 2019 12, Simplifying the Accounting for Income Taxes January 1, 2022. 740, Income Taxes 740, 2019 12 not Accounting Pronouncements not In June 2016, No. 2016 13, No. 2019 04, No. 2019 05, No. 2019 10, No. 2019 11, No. 2020 03 2016 03” December 15, 2022 |
Note 3 - Marketable Securities
Note 3 - Marketable Securities | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 3. Marketable Securities The objectives of the Company’s investment policy are to ensure the safety and preservation of invested funds, as well as to maintain liquidity sufficient to meet cash flow requirements. The Company invests its excess cash in securities issued by financial institutions, commercial companies, and government agencies that management believes to be of high credit quality in order to limit the amount of its credit exposure. The Company has not Unrealized gains and losses on investments that are available for sale are recognized in accumulated comprehensive loss, unless an unrealized loss is considered to be other than temporary, in which case the unrealized loss is charged to operations. The Company periodically reviews its investments for other than temporary declines in fair value below cost basis and whenever events or changes in circumstances indicate that the carrying amount of an asset may not The following tables summarize marketable securities held at June 30, 2022 ( Fair Value Measurements as of June 30, 2022 Using: Amortized Cost Unrealized gains Unrealized Losses Fair Value Assets Corporate bonds $ 73,184 $ — $ (416 ) $ 72,768 Commercial paper 22,713 — (52 ) 22,661 Certificates of Deposit 5,674 — (20 ) 5,654 Asset-backed securities 4,721 — (24 ) 4,697 Total assets $ 106,292 $ — $ (512 ) $ 105,780 As of June 30, 2022 Maturing in one year or less $ 88,480 Maturing after one year through two years 17,300 Maturing after two years — Total $ 105,780 There were no marketable securities as of December 31, 2021. |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4. The following tables represent the Company’s financial assets that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands): Fair Value Measurements as of June 30, 2022 Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Assets Corporate bonds $ — $ 72,768 $ — $ 72,768 Commercial paper 22,661 — — 22,661 Certificates of deposit — 5,654 — 5,654 Asset-backed securities — 4,697 — 4,697 Money market funds (cash equivalents) 11,301 — — 11,301 Total assets $ 33,962 $ 83,119 $ — $ 117,081 Fair Value Measurements as of December 31, 2021 Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Assets Money market funds (cash equivalents) $ 130,005 $ — $ — $ 130,005 Total assets $ 130,005 $ — $ — $ 130,005 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 5. Property and equipment consist of the following (in thousands): June 30, 2022 December 31, 2021 Equipment $ 5,027 $ 5,351 Leasehold improvements 1,607 1,531 Software 365 365 Furniture and fixtures 22 22 Total property and equipment–at cost 7,021 7,269 Less: Accumulated depreciation (5,171 ) (5,026 ) Property and equipment, net $ 1,850 $ 2,243 Depreciation expense for the six June 30, 2022 2021 |
Note 6 - Accrued Expenses
Note 6 - Accrued Expenses | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 6. Accrued expenses consist of the following (in thousands): June 30, December 31, 2022 2021 Compensation and benefits $ 845 $ 1,601 Project expenses 1,651 704 Accrued milestone — 6,000 Marketable securities not settled 513 — Other 292 470 Total accrued expenses $ 3,301 $ 8,775 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 7. Leases The Company adopted ASU 2016 02, Leases (Topic 842 January 1, 2021, January 1, 2021. No not 12 The Company has evaluated its leases and determined that it has one When available, the Company will use the rate implicit in the lease to discount lease payments to present value; however, the Company’s current lease does not The Company has one December 2020. January 2021. four five January 1, 2021. two 11 June 30, 2022. The table below presents the undiscounted cash flows for the lease term. The undiscounted cash flows are reconciled to the operating lease liabilities recorded on the condensed consolidated balance sheet ( 000's Remainder of 2022 $ 550 Years ending December 31, 2023 1,345 2024 1,379 2025 543 Total minimum lease payments 3,817 Less: amount of lease payments representing interest (322 ) Present value of future minimum lease payments 3,495 Less: operating lease obligations, current portion (1,051 ) Operating lease obligations, long-term portion $ 2,444 Milestone payments As part of the ABL Bio Agreement, the Company is obligated to pay certain development milestone payments. In the fourth 2021, 1 009. 10 |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 8. Stock-based compensation expense for the three six June 30, 2022 2021 Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (000’s) (000’s) Research and development $ 174 $ 139 $ 548 $ 298 General and administrative 1,270 809 2,470 1,558 Total $ 1,444 $ 948 $ 3,018 $ 1,856 As of June 30, 2022, Restricted Stock: Prior to the adoption of the 2020 six June 30, 2022 Shares Fair Value Weighted Average Fair Value (000 s) Per Share Unvested, December 31, 2021 471 $ 1.76 Granted — $ — Vested (136 ) $ 1.82 Forfeited or canceled (20 ) $ 1.77 Unvested, June 30, 2022 315 $ 1.74 As of June 30, 2022, 2020 In June 2020, 2020 “2020 2020 January 1, 2022 June 30, 2022, The 2020 four 10 Stock Options: The following table summarizes the stock option activity for the 2020 Weighted Weighted Number of Average Average Aggregate Unvested Exercise Remaining Intrinsic Options Price Contractual Value (000's) Per Share Term (in years) $(000's) Outstanding at December 31, 2021 3,659 $ 4.99 8.67 Granted 2,229 $ 2.29 9.53 Exercised — Forfeited/cancelled (244 ) $ 4.06 Outstanding at June 30, 2022 5,644 $ 3.97 8.94 $ 839 Vested at June 30, 2022 2,182 $ 4.86 9.29 $ 47 For the six June 30, 2022, June 30, 2022, June 30, 2022, For the six June 30, 2021, June 30, 2021. The weighted average assumptions used in the Black-Scholes pricing model to determine the fair value of stock options granted during the six June 30, 2022 2021 Six Months Ended June 30, 2022 2021 Expected term (in years) 5.8 6.1 Risk-free rate 1.93 % 0.76 % Expected volatility 90.3 % 89.3 % Expected dividend yield — — RSUs: The following table summarizes the RSU activity for the 2020 Shares (000's) Weighted Average Price Per Share Weighted Average Fair Value $(000's) Unvested, December 31, 2021 1,200 $ 3.83 $ 4,596 Granted — — — Vested — — — Forfeited or canceled — — — Unvested, June 30, 2022 1,200 $ 3.83 $ 4,596 Weighted average price per share is the weighted grant price based on the closing market price of each of the stock grants. The weighted average fair value is the weighted average share price times the number of shares. As of June 30, 2022, |
Note 9 - Other Income (Expense)
Note 9 - Other Income (Expense) | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Other Nonoperating Income and Expense [Text Block] | 9. Other income (expense) consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (000's) (000's) Interest income $ 424 $ 9 $ 443 $ 24 Interest expense — (111 ) — (253 ) Realized gain on disposal of equipment 69 — 70 44 Total other income (expense) $ 493 $ (102 ) $ 513 $ (185 ) |
Note 10 - License, Research and
Note 10 - License, Research and Collaboration Agreements | 6 Months Ended |
Jun. 30, 2022 | |
Notes to Financial Statements | |
Collaborative Arrangement Disclosure [Text Block] | 10. Collaboration Agreements ABL Bio Corporation ("ABL Bio") Agreement In November 2018, ABL001, DLL4 009 009, 009 1 009 2 009 June 30, 2022, 1. 009 May 2021 2021, In May 2021, two Adimab Agreement The Company entered into a collaboration agreement with Adimab, LLC on October 16, 2014. first first six 2022. June 30, 2022, Other License and Research Agreements FUJIFILM Diosynth Biotechnologies ("Fujifilm ) Agreement The Company entered into a scope of work (“SOW”) under a master services agreement with Fujifilm on July 20, 2020. three June 30, 2022 six June 30, 2022. June 30, 2022, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Accounting Policies [Abstract] | |
Marketable Securities, Policy [Policy Text Block] | Marketable Securities Marketable securities consist of available-for-sale debt securities and are carried at fair value. Unrealized holding gains and losses are reported within other comprehensive loss in the Company's Consolidated Statements of Comprehensive Loss. Fair value is based on available market information including quoted market prices, broker or dealer quotations, or other observable inputs. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements The Company adopted ASU 2019 12, Simplifying the Accounting for Income Taxes January 1, 2022. 740, Income Taxes 740, 2019 12 not Accounting Pronouncements not In June 2016, No. 2016 13, No. 2019 04, No. 2019 05, No. 2019 10, No. 2019 11, No. 2020 03 2016 03” December 15, 2022 |
Note 3 - Marketable Securities
Note 3 - Marketable Securities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Fair Value Measurements as of June 30, 2022 Using: Amortized Cost Unrealized gains Unrealized Losses Fair Value Assets Corporate bonds $ 73,184 $ — $ (416 ) $ 72,768 Commercial paper 22,713 — (52 ) 22,661 Certificates of Deposit 5,674 — (20 ) 5,654 Asset-backed securities 4,721 — (24 ) 4,697 Total assets $ 106,292 $ — $ (512 ) $ 105,780 |
Investments Classified by Contractual Maturity Date [Table Text Block] | As of June 30, 2022 Maturing in one year or less $ 88,480 Maturing after one year through two years 17,300 Maturing after two years — Total $ 105,780 |
Note 4 - Fair Value Measureme_2
Note 4 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements as of June 30, 2022 Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Assets Corporate bonds $ — $ 72,768 $ — $ 72,768 Commercial paper 22,661 — — 22,661 Certificates of deposit — 5,654 — 5,654 Asset-backed securities — 4,697 — 4,697 Money market funds (cash equivalents) 11,301 — — 11,301 Total assets $ 33,962 $ 83,119 $ — $ 117,081 Fair Value Measurements as of December 31, 2021 Using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value Assets Money market funds (cash equivalents) $ 130,005 $ — $ — $ 130,005 Total assets $ 130,005 $ — $ — $ 130,005 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2022 December 31, 2021 Equipment $ 5,027 $ 5,351 Leasehold improvements 1,607 1,531 Software 365 365 Furniture and fixtures 22 22 Total property and equipment–at cost 7,021 7,269 Less: Accumulated depreciation (5,171 ) (5,026 ) Property and equipment, net $ 1,850 $ 2,243 |
Note 6 - Accrued Expenses (Tabl
Note 6 - Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, 2022 2021 Compensation and benefits $ 845 $ 1,601 Project expenses 1,651 704 Accrued milestone — 6,000 Marketable securities not settled 513 — Other 292 470 Total accrued expenses $ 3,301 $ 8,775 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Remainder of 2022 $ 550 Years ending December 31, 2023 1,345 2024 1,379 2025 543 Total minimum lease payments 3,817 Less: amount of lease payments representing interest (322 ) Present value of future minimum lease payments 3,495 Less: operating lease obligations, current portion (1,051 ) Operating lease obligations, long-term portion $ 2,444 |
Note 8 - Stock-based Compensa_2
Note 8 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (000’s) (000’s) Research and development $ 174 $ 139 $ 548 $ 298 General and administrative 1,270 809 2,470 1,558 Total $ 1,444 $ 948 $ 3,018 $ 1,856 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Shares Fair Value Weighted Average Fair Value (000 s) Per Share Unvested, December 31, 2021 471 $ 1.76 Granted — $ — Vested (136 ) $ 1.82 Forfeited or canceled (20 ) $ 1.77 Unvested, June 30, 2022 315 $ 1.74 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Number of Average Average Aggregate Unvested Exercise Remaining Intrinsic Options Price Contractual Value (000's) Per Share Term (in years) $(000's) Outstanding at December 31, 2021 3,659 $ 4.99 8.67 Granted 2,229 $ 2.29 9.53 Exercised — Forfeited/cancelled (244 ) $ 4.06 Outstanding at June 30, 2022 5,644 $ 3.97 8.94 $ 839 Vested at June 30, 2022 2,182 $ 4.86 9.29 $ 47 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Six Months Ended June 30, 2022 2021 Expected term (in years) 5.8 6.1 Risk-free rate 1.93 % 0.76 % Expected volatility 90.3 % 89.3 % Expected dividend yield — — |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Shares (000's) Weighted Average Price Per Share Weighted Average Fair Value $(000's) Unvested, December 31, 2021 1,200 $ 3.83 $ 4,596 Granted — — — Vested — — — Forfeited or canceled — — — Unvested, June 30, 2022 1,200 $ 3.83 $ 4,596 |
Note 9 - Other Income (Expens_2
Note 9 - Other Income (Expense) (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Notes Tables | |
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 (000's) (000's) Interest income $ 424 $ 9 $ 443 $ 24 Interest expense — (111 ) — (253 ) Realized gain on disposal of equipment 69 — 70 44 Total other income (expense) $ 493 $ (102 ) $ 513 $ (185 ) |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Basis of Presentation (Details Textual) $ in Millions | 51 Months Ended |
Jun. 30, 2022 USD ($) | |
Proceeds from Issuance or Sale of Equity, Total | $ 329 |
Cash and Marketable Securities | $ 132 |
Note 3 - Marketable Securitie_2
Note 3 - Marketable Securities (Details Textual) $ in Thousands | Dec. 31, 2021 USD ($) |
Marketable Securities, Total | $ 0 |
Note 3 - Marketable Securitie_3
Note 3 - Marketable Securities - Marketable Securities (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Amortized Cost | $ 106,292 |
Unrealized Gains | 0 |
Unrealized Losses | (512) |
Total | 105,780 |
Corporate Debt Securities [Member] | |
Amortized Cost | 73,184 |
Unrealized Gains | 0 |
Unrealized Losses | (416) |
Total | 72,768 |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | |
Amortized Cost | 22,713 |
Unrealized Gains | 0 |
Unrealized Losses | (52) |
Total | 22,661 |
Certificates of Deposit [Member] | |
Amortized Cost | 5,674 |
Unrealized Gains | 0 |
Unrealized Losses | (20) |
Total | 5,654 |
Asset-Backed Securities [Member] | |
Amortized Cost | 4,721 |
Unrealized Gains | 0 |
Unrealized Losses | (24) |
Total | $ 4,697 |
Note 3 - Marketable Securitie_4
Note 3 - Marketable Securities - Maturity (Details) $ in Thousands | Jun. 30, 2022 USD ($) |
Maturing in one year or less | $ 88,480 |
Maturing after one year through two years | 17,300 |
Maturing after two years | 0 |
Total | $ 105,780 |
Note 4 - Fair Value Measureme_3
Note 4 - Fair Value Measurements - Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Marketable Securities | $ 105,780 | |
Corporate Debt Securities [Member] | ||
Marketable Securities | 72,768 | |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 22,661 | |
Certificates of Deposit [Member] | ||
Marketable Securities | 5,654 | |
Asset-Backed Securities [Member] | ||
Marketable Securities | 4,697 | |
Fair Value, Recurring [Member] | ||
Total assets | 117,081 | $ 130,005 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Marketable Securities | 72,768 | |
Fair Value, Recurring [Member] | Cash and Cash Equivalents [Member] | ||
Marketable Securities | 11,301 | 130,005 |
Fair Value, Recurring [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 22,661 | |
Fair Value, Recurring [Member] | Certificates of Deposit [Member] | ||
Marketable Securities | 5,654 | |
Fair Value, Recurring [Member] | Asset-Backed Securities [Member] | ||
Marketable Securities | 4,697 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Total assets | 33,962 | 130,005 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | ||
Marketable Securities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member] | ||
Marketable Securities | 11,301 | 130,005 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 22,661 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | ||
Marketable Securities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-Backed Securities [Member] | ||
Marketable Securities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Total assets | 83,119 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Marketable Securities | 72,768 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents [Member] | ||
Marketable Securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | ||
Marketable Securities | 5,654 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-Backed Securities [Member] | ||
Marketable Securities | 4,697 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Total assets | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | ||
Marketable Securities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Cash and Cash Equivalents [Member] | ||
Marketable Securities | 0 | $ 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Marketable Securities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member] | ||
Marketable Securities | 0 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-Backed Securities [Member] | ||
Marketable Securities | $ 0 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Depreciation, Total | $ 0.4 | $ 0.3 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Total property and equipment–at cost | $ 7,021 | $ 7,269 |
Less: Accumulated depreciation | (5,171) | (5,026) |
Property and equipment, net | 1,850 | 2,243 |
Equipment [Member] | ||
Total property and equipment–at cost | 5,027 | 5,351 |
Leasehold Improvements [Member] | ||
Total property and equipment–at cost | 1,607 | 1,531 |
Software Development [Member] | ||
Total property and equipment–at cost | 365 | 365 |
Furniture and Fixtures [Member] | ||
Total property and equipment–at cost | $ 22 | $ 22 |
Note 6 - Accrued Expenses - Sch
Note 6 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Compensation and benefits | $ 845 | $ 1,601 |
Project expenses | 1,651 | 704 |
Accrued milestone | 0 | 6,000 |
Marketable securities not settled | 513 | 0 |
Other | 292 | 470 |
Total accrued expenses | $ 3,301 | $ 8,775 |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies (Details Textual) $ in Millions | Jun. 30, 2022 USD ($) |
Number of Operating Leases | 1 |
Lessee, Operating Lease, Term of Contract (Year) | 4 years 5 months 1 day |
Lessee, Operating Lease, Discount Rate | 6.25% |
Lessee, Operating Lease, Remaining Lease Term (Year) | 35 years |
ABL Bio [Member] | |
Milestone Payment Obligation | $ 6 |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Undiscounted Cash Flows Reconciled to Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2022 | Dec. 31, 2021 |
Remainder of 2022 | $ 550 | |
2023 | 1,345 | |
2024 | 1,379 | |
2025 | 543 | |
Total minimum lease payments | 3,817 | |
Less: amount of lease payments representing interest | (322) | |
Present value of future minimum lease payments | 3,495 | |
Less: operating lease obligations, current portion | (1,051) | $ (989) |
Operating lease obligations, long-term portion | $ 2,444 | $ 3,048 |
Note 8 - Stock-based Compensa_3
Note 8 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions | 6 Months Ended | |||
Jan. 01, 2022 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2020 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 12,600 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 2.29 | $ 3.95 | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 47 | $ 0 | ||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 8,200 | |||
The 2020 Stock Option and Incentive Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 2.9 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 4.2 | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 2.2 | |||
Restricted Stock [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 500 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 3 months 18 days | |||
Share-Based Payment Arrangement, Option [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years | |||
Share-Based Payment Arrangement, Option [Member] | The 2020 Stock Option and Incentive Plan [Member] | ||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 4 years | |||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 3,900 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years 4 months 24 days |
Note 8 - Stock-based Compensa_4
Note 8 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Stock-based compensation expense | $ 1,444 | $ 948 | $ 3,018 | $ 1,856 |
Research and Development Expense [Member] | ||||
Stock-based compensation expense | 174 | 139 | 548 | 298 |
General and Administrative Expense [Member] | ||||
Stock-based compensation expense | $ 1,270 | $ 809 | $ 2,470 | $ 1,558 |
Note 8 - Stock-based Compensa_5
Note 8 - Stock-based Compensation - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] shares in Thousands | 6 Months Ended |
Jun. 30, 2022 $ / shares shares | |
Unvested, shares (in shares) | shares | 471 |
Granted, shares (in shares) | shares | 0 |
Vested, shares (in shares) | shares | (136) |
Forfeited or canceled, shares (in shares) | shares | (20) |
Unvested, shares (in shares) | shares | 315 |
Unvested, weighted average price per share (in dollars per share) | $ / shares | $ 1.76 |
Granted, weighted average price per share (in dollars per share) | $ / shares | 0 |
Vested, weighted average price per share (in dollars per share) | $ / shares | 1.82 |
Forfeited or canceled, weighted average price per share (in dollars per share) | $ / shares | 1.77 |
Unvested, weighted average price per share (in dollars per share) | $ / shares | $ 1.74 |
Note 8 - Stock-based Compensa_6
Note 8 - Stock-based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Outstanding (in shares) | 3,659 | ||
Outstanding, weighted average exercise price per share (in dollars per share) | $ 4.99 | ||
Outstanding, weighted average remaining contractual term (Year) | 8 years 11 months 8 days | 8 years 8 months 1 day | |
Granted (in shares) | 2,229 | ||
Granted, weighted average exercise price per share (in dollars per share) | $ 2.29 | ||
Granted, weighted average remaining contractual term (Year) | 9 years 6 months 10 days | ||
Exercised (in shares) | 0 | ||
Exercised (in dollars per share) | |||
Forfeited/cancelled (in shares) | (244) | ||
Forfeited/cancelled, weighted average exercise price per share (in dollars per share) | $ 4.06 | ||
Outstanding (in shares) | 5,644 | 3,659 | |
Outstanding, weighted average exercise price per share (in dollars per share) | $ 3.97 | $ 4.99 | |
Outstanding, aggregate intrinsic value | $ 839 | ||
Vested (in shares) | 2,182 | ||
Vested, weighted average exercise price per share (in dollars per share) | $ 4.86 | ||
Vested, weighted average remaining contractual term (Year) | 9 years 3 months 14 days | ||
Vested, aggregate intrinsic value | $ 47 | $ 0 |
Note 8 - Stock-based Compensa_7
Note 8 - Stock-based Compensation - Weighted Average Assumptions (Details) | 6 Months Ended | |
Jun. 30, 2022 | Jun. 30, 2021 | |
Expected term (in years) (Year) | 5 years 9 months 18 days | 6 years 1 month 6 days |
Risk-free rate | 1.93% | 0.76% |
Expected volatility | 90.30% | 89.30% |
Expected dividend yield | 0% | 0% |
Note 8 - Stock-based Compensa_8
Note 8 - Stock-based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) [Member] $ / shares in Units, $ in Thousands | 6 Months Ended |
Jun. 30, 2022 USD ($) $ / shares shares | |
Unvested, shares (in shares) | shares | 1,200 |
Unvested, weighted average price per share (in dollars per share) | $ / shares | $ 3.83 |
Unvested, weighted average fair value | $ | $ 4,596 |
Granted, shares (in shares) | shares | 0 |
Granted, weighted average price per share (in dollars per share) | $ / shares | $ 0 |
Vested, shares (in shares) | shares | 0 |
Vested, weighted average price per share (in dollars per share) | $ / shares | $ 0 |
Forfeited or canceled, shares (in shares) | shares | 0 |
Forfeited or canceled, weighted average price per share (in dollars per share) | $ / shares | $ 0 |
Unvested, shares (in shares) | shares | 1,200 |
Unvested, weighted average price per share (in dollars per share) | $ / shares | $ 3.83 |
Note 9 - Other Income (Expens_3
Note 9 - Other Income (Expense) - Schedule of Other Income (Expense) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Jun. 20, 2021 | |
Interest income | $ 424 | $ 9 | $ 443 | $ 24 | |
Interest expense | 0 | (111) | 0 | (253) | |
Realized gain on disposal of equipment | 69 | 0 | 70 | 44 | $ 44 |
Total other income (expense) | $ 493 | $ (102) | $ 513 | $ (185) |
Note 10 - License, Research a_2
Note 10 - License, Research and Collaboration Agreements (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | |
Nov. 30, 2018 | Jun. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Accounts Payable, Current, Total | $ 6,532 | $ 6,532 | $ 867 | |
ABL Bio Agreement [Member] | ||||
Upfront Payment | $ 5,000 | |||
Maximum Development and Regulatory Milestone Payments | 110,000 | |||
ABL Bio Agreement [Member] | Oncology [Member] | ||||
Maximum Commercial Milestone Payments and Royalties | 295,000 | |||
ABL Bio Agreement [Member] | Ophthalmology [Member] | ||||
Maximum Commercial Milestone Payments and Royalties | $ 185,000 | |||
Accounts Payable, Current, Total | 6,000 | 6,000 | ||
Adimab Agreement [Member] | ||||
Milestone Payments Paid | 0 | |||
Milestone Payment Obligation | 2,000 | 2,000 | ||
FUJIFILM Diosynth Biotechnologies Agreement [Member] | ||||
Cash Payment for License Agreement | 488 | 500 | ||
Research and Development Expense, Total | 2,200 | 2,800 | ||
License and Research Agreement, Expenses to be Recognized | $ 600 | $ 600 |