| Summary of Significant Accounting Policies | 3.
Summary of Significant Accounting Policies
Basis of Presentation
The accompanying condensed consolidated financial statements are
presented in U.S. dollars and have been prepared in conformity with
accounting principles generally accepted in the United States of
America (“GAAP”). Any reference in these notes to
applicable guidance is meant to refer to the authoritative GAAP as
found in the Accounting Standards Codification (“ASC”)
and as amended by Accounting Standards Update (“ASU”)
of the Financial Accounting Standards Board
(“FASB”).
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 financial position
as of June 30, 2020 and its results of operations and changes
in stockholders’ equity (deficit) for the three and six
months ended June 30, 2020 and 2019 and cash flows for the six
months ended June 30, 2020 and 2019. Operating results for the
six months ended June 30, 2020 are not necessarily indicative
of the results that may be expected for the year ending
December 31, 2020.
The condensed consolidated balance sheet at December 31, 2019
has been derived from the audited consolidated financial statements
at that date but does not include all of the information and
footnotes required by GAAP for complete financial statements. These
unaudited condensed consolidated financial statements should be
read in conjunction with the consolidated financial statements of
Compass Therapeutics LLC and related footnotes for the year ended
December 31, 2019, included as Exhibit 99.1 in the
Company’s Form 8-K
Principles of Consolidation
The accompanying condensed consolidated financial statements
include the accounts of Compass Therapeutics, Inc., and its
wholly-owned subsidiaries Compass Therapeutics LLC and Compass
Therapeutics Advisors Inc. All intercompany accounts and
transactions have been eliminated in consolidation.
Use of Estimates
The preparation of financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial
statements and the reported amounts of expenses during the
reporting period. Significant estimates and assumptions reflected
in these financial statements include, but are not limited to, the
accrual of research and development expenses, the valuation of the
embedded derivative, the valuation of common stock and estimates
associated with stock-based awards. Estimates are periodically
reviewed in light of changes in circumstances, facts and
experience. Actual results could differ from those estimates.
Changes in estimates are recorded in the period that they become
known.
Segment Information
Operating segments are defined as components of an enterprise for
which separate and discrete information is available for evaluation
by the chief operating decision-maker in deciding how to allocate
resources and assess performance. The Company has one operating
segment. The Company’s chief operating decision-maker, its
chief executive officer, manages the Company’s operations on
a consolidated basis for the purpose of allocating resources. All
of the Company’s long-lived assets are held in the United
States.
Cash and Cash Equivalents
The Company considers all highly liquid investments that are
readily convertible into cash with original maturities of three
months or less from the date of purchase to be cash equivalents.
Cash and cash equivalents include cash held in banks and amounts
held in money market funds. Cash equivalents are stated at cost,
which approximates market value. Cash equivalents consisted of
money market funds of $62.1 million and $22.8 million at
June 30, 2020 and December 31, 2019, respectively.
Concentrations of Credit Risk and Off-Balance
Financial instruments that potentially expose the Company to
concentrations of credit risk consist primarily of cash, cash
equivalents and restricted cash. The Company maintains its cash,
cash equivalents and restricted cash with financial institutions
that management believes to be of high-credit quality. The Company
has not experienced any losses related to its cash, cash
equivalents and restricted cash.
Property and Equipment
Property and equipment are stated at cost, net of accumulated
depreciation and amortization. Depreciation and amortization are
recorded using the straight-line method over the estimated useful
lives of the related assets as follows:
Estimated Useful Life
Asset Classification
Equipment 5 years
Furniture and fixtures 7 years
Software 5 years
Leasehold improvements
Lesser of estimated useful life or lease term
Estimated useful lives are periodically assessed to determine if
changes are appropriate. Maintenance and repairs are charged to
expense as incurred. When assets are retired or otherwise disposed
of, the cost of these assets and related accumulated depreciation
or amortization are eliminated from the condensed consolidated
balance sheet and any resulting gains or losses are included in the
condensed consolidated statement of operations in the period of
disposal. Costs for capital assets not yet placed into service are
capitalized as construction-in-progress
Impairment of Long-Lived Assets
Long-lived assets consist of property and equipment. Long-lived
assets to be held and used are tested for recoverability whenever
events or changes in business circumstances indicate that the
carrying amount of the assets may not be fully recoverable. Factors
that the Company considers in deciding when to perform an
impairment review include significant underperformance of the
business in relation to expectations, significant negative industry
or economic trends and significant changes or planned changes in
the use of the assets. If an impairment review is performed to
evaluate a long-lived asset group for recoverability, the Company
compares forecasts of undiscounted cash flows expected to result
from the use and eventual disposition of the long-lived asset group
to its carrying value. An impairment loss would be recognized in
the condensed consolidated statements of operations when estimated
undiscounted future cash flows expected to result from the use of
an asset group are less than its carrying amount. The impairment
loss would be based on the excess of the carrying value of the
impaired asset group over its fair value, determined based on
discounted cash flows. The Company did not record any impairment
losses on long-lived assets during the six months ended
June 30, 2020 and 2019.
Fair Value Measurements
Certain assets and liabilities of the Company are carried at fair
value under GAAP. Fair value is defined as the exchange price that
would be received for an asset or paid to transfer a liability (an
exit price) in the principal or most advantageous market for the
asset or liability in an orderly transaction between market
participants on the measurement date. Valuation techniques used to
measure fair value must maximize the use of observable inputs and
minimize the use of unobservable inputs. Financial assets and
liabilities carried at fair value are to be classified and
disclosed in one of the following three levels of the fair value
hierarchy, of which the first two are considered observable and the
last is considered unobservable:
•
Level 1 – Quoted prices in active markets
for identical assets or liabilities.
•
Level 2 – Observable inputs (other than
Level 1 quoted prices), such as quoted prices in active
markets for similar assets or liabilities, quoted prices in markets
that are not active for identical or similar assets and
liabilities, or other inputs that are observable or can be
corroborated by observable market data.
•
Level 3 – Unobservable inputs that are
supported by little or no market activity and that are significant
to determining the fair value of the assets or liabilities,
including pricing models, discounted cash flow methodologies and
similar techniques.
To the extent that the valuation is based on models or inputs that
are less observable or unobservable in the market, the
determination of fair value requires more judgment. Accordingly,
the degree of judgment exercised by the Company in determining fair
value is greatest for instruments categorized in Level 3. A
financial instrument’s level within the fair value hierarchy
is based on the lowest level of any input that is significant to
the fair value measurement.
An entity may choose to measure many financial instruments and
certain other items at fair value at specified election dates.
Subsequent unrealized gains and losses on items for which the fair
value option has been elected are reported in earnings.
The Company’s cash equivalents are carried at fair value
according to the fair value hierarchy described above and were
determined based on Level 1 measurements (see Note 4). The
Company’s restricted cash is carried at fair value according
to the fair value hierarchy described above and were determined
based on Level 2 measurements (see Note 4). The carrying
values of other current assets and accounts payable approximate
their fair value due to the short-term nature of these assets and
liabilities. The carrying values of the Company’s loan
approximated its fair value as of June 30, 2020 and
December 31, 2019 due to its variable interest rate. The fair
value of the loan related embedded derivative (see Note 4) was
determined based on Level 3 measurements.
Research and Development Costs
Costs associated with internal research and development and
external research and development services, including drug
development and preclinical studies, are expensed as incurred.
Research and development expenses include costs for salaries,
employee benefits, subcontractors, facility-related expenses,
depreciation and amortization, stock-based compensation,
third-party license fees, laboratory supplies, and external costs
of outside vendors engaged to conduct discovery, preclinical and
clinical development activities and clinical trials as well as to
manufacture clinical trial materials, and other costs. The Company
recognizes external research and development costs based on an
evaluation of the progress to completion of specific tasks using
information provided to the Company by its service providers.
Nonrefundable advance payments for goods or services to be received
in the future for use in research and development activities are
recorded as prepaid expenses. Such prepaid expenses are recognized
as an expense when the goods have been delivered or the related
services have been performed, or when it is no longer expected that
the goods will be delivered, or the services rendered.
Costs associated with licenses of technology acquired as part of
collaborative arrangements are expensed as incurred and are
generally included in research and development expense in the
condensed consolidated statements of operations if it is determined
the license has no alternative future use.
Accrued Research and Development Expenses
The Company has entered into various research and development and
other agreements with commercial firms, researchers, universities
and others for provisions of goods and services. These agreements
are generally cancelable, and the related costs are recorded as
research and development expenses as incurred. The Company records
accruals for estimated ongoing research and development costs. When
evaluating the adequacy of the accrued liabilities, the Company
analyzes progress of the studies or clinical trials, including the
phase or completion of events, invoices received and contracted
costs. Significant judgments and estimates are made in determining
the accrued balances at the end of any reporting period. Actual
results could differ materially from the Company’s estimates.
The Company’s historical accrual estimates have not been
materially different from the actual costs.
Stock-Based Compensation
Through December 2019, Compass Therapeutics LLC issued Class A
and Class C common units to various employees, directors and
consultants. The units constituted “profits interests”
for tax purposes and were accounted for as share-based payment
arrangements. Compass LLC measured the estimated fair value of the
unit-based awards on the date of grant and recognized compensation
expense over the requisite service period, which was generally the
vesting period of the respective award. Upon consummation of the
Merger, all outstanding vested units were converted into shares of
common stock and all outstanding unvested units were converted into
shares of restricted stock that will continue to vest over the
remaining term of the original award.
The Company records compensation expense for all stock-based awards
granted to employees and non-employees
Net Loss per Share
Basic loss per share is computed by dividing net loss applicable to
common stockholders by the weighted average number of shares of
common stock outstanding during each period. Diluted loss per share
includes the effect, if any, from the potential exercise or
conversion of securities, such as unvested convertible preferred
units and warrants that would result in the issuance of incremental
shares of common stock. In computing the basic and diluted net loss
per share applicable to common stockholders, the weighted average
number of shares remains the same for both calculations due to the
fact that when a net loss exists, dilutive shares are not included
in the calculation as the impact is anti-dilutive.
The following potentially dilutive securities outstanding as of
June 30, 2020 and 2019 have been excluded from the computation
of diluted weighted average shares outstanding, as they would be
anti-dilutive:
June 30,
2020 2019
Common stock issued upon vesting of share-based award 1,254,965 2,038,955
Preferred stock as converted
— 30,629,606
Warrants to purchase common stock
— 3,114,145
Total 1,254,965 35,782,706
Recently Issued Accounting Pronouncements
In February 2016, the FASB issued ASU No. 2016-02, Leases, right-of-use
In August 2018, the FASB issued ASU No. 2018-13, Disclosure
Framework—Changes to the Disclosure
Requirements for Fair Value Measurements,
In November 2018, the FASB issued ASU No. 2018-18, Collaborative
Arrangements (Topic 808): Clarifying the Interaction Between Topic
808 and Topic 606 2018-18”). 2018-18
In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes 2019-12”), 2019-12 2019-12 | 3.
Summary of Significant Accounting Policies
Basis of Presentation
The accompanying consolidated financial statements are presented in
U.S. dollars and have been prepared in conformity with accounting
principles generally accepted in the United States of America
(“GAAP”). Any reference in these notes to applicable
guidance is meant to refer to the authoritative GAAP as found in
the Accounting Standards Codification (“ASC”) and as
amended by Accounting Standards Updates of the Financial Accounting
Standards Board (“FASB”).
Principles of Consolidation
The accompanying consolidated financial statements include the
accounts of Compass Therapeutics LLC and its wholly-owned
subsidiary, Compass Therapeutics Advisors Inc. All intercompany
accounts and transactions have been eliminated in
consolidation.
Use of Estimates
The preparation of financial statements in conformity with GAAP
requires management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial
statements and the reported amounts of expenses during the
reporting period. Significant estimates and assumptions reflected
in these financial statements include, but are not limited to, the
accrual of research and development expenses, the valuation of the
preferred equity call right liability, the valuation of the
embedded derivative, the valuation of common units and estimates
associated with unit-based awards. Estimates are periodically
reviewed in light of changes in circumstances, facts and
experience. Actual results could differ from those estimates.
Changes in estimates are recorded in the period that they become
known.
Segment Information
Operating segments are defined as components of an enterprise for
which separate and discrete information is available for evaluation
by the chief operating decision-maker in deciding how to allocate
resources and assess performance. The Company has one operating
segment. The Company’s chief operating decision maker, its
chief executive officer, manages the Company’s operations on
a consolidated basis for the purpose of allocating resources. All
of the Company’s long-lived assets are held in the United
States.
Cash and Cash Equivalents
The Company considers all highly liquid investments that are
readily convertible into cash with original maturities of three
months or less from the date of purchase to be cash equivalents.
Cash and cash equivalents include cash held in banks and amounts
held in money market funds. Cash equivalents are stated at cost,
which approximates market value. Cash equivalents consisted of
money market funds of $22.8 million and $55.3 million at
December 31, 2019 and 2018, respectively.
Restricted Cash
As of December 31, 2019 and 2018, the Company was required to
maintain a separate cash balance of $0.2 million to
collateralize corporate credit cards with a bank, which was
classified as restricted cash on the consolidated balance sheets as
a non-current
In connection with the Company’s lease agreement entered into
July 2016 (see Note 11), the Company is required to maintain a
letter of credit of $0.1 million for the benefit of the
landlord. As of December 31, 2019, and 2018, the underlying
cash balance securing this letter of credit was classified as
restricted cash on the consolidated balance sheets as a
non-current
Concentrations of Credit Risk and Off-Balance
Financial instruments that potentially expose the Company to
concentrations of credit risk consist primarily of cash, cash
equivalents and restricted cash. The Company maintains its cash,
cash equivalents, and restricted cash with financial institutions
that management believes to be of high-credit quality. The Company
generally maintains balances in various operating accounts at
financial institutions that management believes to be of
high-credit quality, in amounts that may exceed federally insured
limits. The Company has not experienced any losses related to its
cash, cash equivalents and restricted cash.
As of December 31, 2019 and 2018, the Company had no
off-balance
Property and Equipment
Property and equipment are stated at cost, net of accumulated
depreciation and amortization. Depreciation and amortization are
recorded using the straight-line method over the estimated useful
lives of the related assets as follows:
Estimated Useful Life
Asset classification
Equipment 5 years
Furniture and fixtures 7 years
Software 5 years
Leasehold improvements
Lesser of estimated useful life or lease term
Estimated useful lives are periodically assessed to determine if
changes are appropriate. Maintenance and repairs are expensed as
incurred. When assets are retired or otherwise disposed of, the
cost of these assets and related accumulated depreciation or
amortization are eliminated from the consolidated balance sheet and
any resulting gains or losses are included in the consolidated
statement of operations in the period of disposal. Costs for
capital assets not yet placed into service are capitalized as
construction-in-progress
Impairment of Long-Lived Assets
Long-lived assets consist of property and equipment. Long-lived
assets to be held and used are tested for recoverability whenever
events or changes in business circumstances indicate that the
carrying amount of the assets may not be fully recoverable. Factors
that the Company considers in deciding when to perform an
impairment review include significant underperformance of the
business in relation to expectations, significant negative industry
or economic trends and significant changes or planned changes in
the use of the assets. If an impairment review is performed to
evaluate a long-lived asset group for recoverability, the Company
compares forecasts of undiscounted cash flows expected to result
from the use and eventual disposition of the long-lived asset group
to its carrying value. An impairment loss would be recognized in
loss from operations when estimated undiscounted future cash flows
expected to result from the use of an asset group are less than its
carrying amount. The impairment loss would be based on the excess
of the carrying value of the impaired asset group over its fair
value, determined based on discounted cash flows. The Company did
not record any impairment losses on long-lived assets during the
years ended December 31, 2019 or 2018.
Fair Value Measurements
Certain assets and liabilities of the Company are carried at fair
value under GAAP. Fair value is defined as the exchange price that
would be received for an asset or paid to transfer a liability (an
exit price) in the principal or most advantageous market for the
asset or liability in an orderly transaction between market
participants on the measurement date. Valuation techniques used to
measure fair value must maximize the use of observable inputs and
minimize the use of unobservable inputs. Financial assets and
liabilities carried at fair value are to be classified and
disclosed in one of the following three levels of the fair value
hierarchy, of which the first two are considered observable and the
last is considered unobservable:
•
Level 1—Quoted prices in active markets for
identical assets or liabilities.
•
Level 2—Observable inputs (other than
Level 1 quoted prices), such as quoted prices in active
markets for similar assets or liabilities, quoted prices in markets
that are not active for identical or similar assets and
liabilities, or other inputs that are observable or can be
corroborated by observable market data.
•
Level 3—Unobservable inputs that are supported
by little or no market activity and that are significant to
determining the fair value of the assets or liabilities, including
pricing models, discounted cash flow methodologies and similar
techniques.
To the extent that the valuation is based on models or inputs that
are less observable or unobservable in the market, the
determination of fair value requires more judgment. Accordingly,
the degree of judgment exercised by the Company in determining fair
value is greatest for instruments categorized in Level 3. A
financial instrument’s level within the fair value hierarchy
is based on the lowest level of any input that is significant to
the fair value measurement.
An entity may choose to measure many financial instruments and
certain other items at fair value at specified election dates.
Subsequent unrealized gains and losses on items for which the fair
value option has been elected will be reported in earnings.
The Company’s cash equivalents are carried at fair value
according to the fair value hierarchy described above and were
determined based on Level 1 measurements (see Note 4). The
Company’s restricted cash is carried at fair value according
to the fair value hierarchy described above and were determined
based on Level 2 measurements (see Note 4). The carrying
values of other current assets and accounts payable approximate
their fair value due to the short-term nature of these assets and
liabilities. The carrying values of the Company’s loan
approximated its fair value as of December 31, 2019 and
March 31, 2020 due to its variable interest rate. The fair
value of the loan related embedded derivative (see Note 4) was
determined based on Level 3 measurements.
Deferred Offering Costs
The Company capitalizes certain legal, professional, accounting and
other third-party fees that are directly associated with
in-process in-process
Research and Development Costs
Costs associated with internal research and development and
external research and development services, including drug
development and preclinical studies, are expensed as incurred.
Research and development expenses include costs for salaries,
employee benefits, subcontractors, facility-related expenses,
depreciation and amortization, unit-based compensation, third-party
license fees, laboratory supplies, and external costs of outside
vendors engaged to conduct discovery, preclinical and clinical
development activities and clinical trials as well as to
manufacture clinical trial materials, and other costs. The Company
recognizes external research and development costs based on an
evaluation of the progress to completion of specific tasks using
information provided to the Company by its service providers.
Nonrefundable advance payments for goods or services to be received
in the future for use in research and development activities are
recorded as prepaid expenses. Such prepaid expenses are recognized
as an expense when the goods have been delivered or the related
services have been performed, or when it is no longer expected that
the goods will be delivered, or the services rendered.
Costs associated with licenses of technology acquired as part of
collaborative arrangements are expensed as incurred and are
generally included in research and development expense in the
consolidated statements of operations if it is determined the
license has no alternative future use.
Accrued Research and Development Expenses
The Company has entered into various research and development and
other agreements with commercial firms, researchers, universities
and others for provisions of goods and services. These agreements
are generally cancelable, and the related costs are recorded as
research and development expenses as incurred. The Company records
accruals for estimated ongoing research and development costs. When
evaluating the adequacy of the accrued liabilities, the Company
analyzes progress of the studies or clinical trials, including the
phase or completion of events, invoices received and contracted
costs. Significant judgments and estimates are made in determining
the accrued balances at the end of any reporting period. Actual
results could differ materially from the Company’s estimates.
The Company’s historical accrual estimates have not been
materially different from the actual costs.
Debt Issuance Costs
Debt issuance costs consist of payments made to secure commitments
under certain debt financing arrangements. These amounts are
recognized as interest expense over the period of the financing
arrangement using the effective interest method. If the financing
arrangement is canceled or forfeited, or if the utility of the
arrangement to the Company is otherwise compromised, these costs
are recognized as interest expense immediately.
The Company’s consolidated financial statements present debt
issuance costs related to a recognized debt liability as a direct
reduction from the carrying amount of that debt liability.
Patent Costs
All patent-related costs incurred in connection with filing and
prosecuting patent applications are expensed as incurred due to the
uncertainty about the recovery of the expenditure. Amounts incurred
are classified as general and administrative expense in the
consolidated statements of operations.
Unit-Based Compensation
The Company accounts for all unit-based awards granted to employees
and non-employees
The Company determines the fair value of the underlying profit
interest units based on input from management and approved by the
Board, which utilizes the Company’s enterprise value
determined utilizing various methods including the back-solve
method, the option-pricing method (“OPM”) or a hybrid
of the probability-weighted expected return method
(“PWERM”) and the OPM. The total enterprise value is
then allocated to the various outstanding equity instruments,
including the underlying profit interest, utilizing the
option-pricing model.
For employee and non-employee
The fair value of each profits interest unit is estimated on the
date of grant using the Black-Scholes option-pricing model, which
requires inputs based on certain subjective assumptions, including
the expected unit price volatility, the expected term of the unit,
the risk-free interest rate for a period that approximates the
expected term of the units and the Company’s expected
dividend yield. The fair value of each restricted equity award is
estimated on the date of grant based on the fair value of the
Company’s common units on that same date. As there is no
public market for its common units, the Company determines the
volatility for awards granted based on an analysis of reported data
for a group of guideline companies that issued options with
substantially similar terms. The expected volatility has been
determined using a weighted-average of the historical volatility
measures of this group of guideline companies. The Company expects
to continue to do so until such time as it has adequate historical
data regarding the volatility of its own traded unit price. The
expected term of the Company’s units granted to employees has
been determined utilizing the “simplified” method for
awards that qualify as “plain-vanilla” options. The
Company has elected to apply the nonpublic entity practical
expedient for calculating the expected term of non-employee
Income Taxes
Compass Therapeutics LLC elected to be treated as a partnership for
income tax reporting purposes and therefore, federal and
Massachusetts and any other state income taxes are the
responsibility of the individual members. As such, no federal or
state income taxes related to the LLC are recorded in the
consolidated financial statements. The Company’s wholly-owned
subsidiary, Compass Therapeutics Advisors Inc., is organized as a
C-corporation
The Company follows the liability method of accounting for income
taxes, as set forth in ASC 740, “Accounting for Income
Taxes.”
ASC 740-10, Accounting for Uncertainty in Income Taxes” 740-10”), 740-10,
Net Loss per Unit
The Company follows the two-class two-class two-class
Basic net income (loss) per unit attributable to common unitholders
is computed by dividing the net income (loss) attributable to
common unitholders by the weighted average number of common units
outstanding for the period. Diluted net income (loss) attributable
to common unitholders is computed by adjusting net income (loss)
attributable to common unitholders to reallocate undistributed
earnings based on the potential impact of dilutive securities.
Diluted net income (loss) per unit attributable to common
unitholders is computed by dividing the diluted net income (loss)
attributable to common unitholders by the weighted average number
of common units outstanding for the period, including potential
dilutive common units. For purpose of this calculation, outstanding
profit interest options, convertible preferred unit and warrants to
purchase shares of convertible preferred units are considered
potential dilutive common units.
The Company’s convertible preferred unit contractually
entitles the holders of such units to participate in dividends but
does not contractually require the holders of such units to
participate in losses of the Company. Accordingly, in periods in
which the Company reports a net loss attributable to common
unitholders, such losses are not allocated to such participating
securities. In periods in which the Company reports a net loss
attributable to common unitholders, diluted net loss per unit
attributable to common unitholders is the same as basic net loss
per unit attributable to common unitholders, since dilutive common
units are not assumed to have been issued if their effect is
anti-dilutive. The Company reported a net loss attributable to
common unitholders for the years ended December 31, 2019 and
2018.
Recently Adopted Accounting Pronouncements
In May 2014, the FASB issued ASU No. 2014-09, Revenue from
Contracts with Customers (Topic 606) 2014-09”), 2014-09 2014-09
In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment
Accounting” 2016-09”). 2016-09 2016-09
In May 2017, the FASB issued ASU No. 2017-09, Compensation—Stock Compensation (Topic 718): Scope of
Modification Accounting 2017-09”), 2017-09
In June 2018, the FASB issued ASU No. 2018-07, “Compensation—Stock Compensation (Topic 718):
Improvements to Nonemployee Share-Based Payment
Accounting No. 2018-07”). 505-50, Non-Employees. 2018-07
In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash
Flows (Topic 230), Restricted Cash 2016-18”). 2016-09 beginning-of-period end-of-period 2016-18
Recently Issued Accounting Pronouncements
In February 2016, the FASB issued ASU No. 2016-02, Leases right-of-use
In August 2018, the FASB issued ASU No. 2018-13, Changes to the Disclosure Requirements for Fair
Value Measurements
In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements
(Topic 808): Clarifying the Interaction between Topic 808 and Topic
606 2018-18”). 2018-18
In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740):
Simplifying the Accounting for Income Taxes 2019-12”), 2019-12 2019-12 |
