Restatement of Previously Issued Financial Statements (Tables)

3 Months Ended

Sep. 30, 2021

Accounting Changes and Error Corrections [Abstract]

Schedule of Amounts Originally Reported Derived from Original Quarterly Report

The following tables reflect the impact of the restatement adjustments to the specific line items presented in our previously reported financial statements for the periods indicated. The amounts originally reported were derived from the Original Quarterly Report (in thousands, except per share amounts):

	September 30, 2021
	As Originally Reported			Adjustments			As Restated
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Deferred revenue	$	14,837		$	(9,528	)	$	5,309
Total current liabilities		30,365			(9,528	)		20,837
Deferred revenue, long-term		87,276			7,054			94,330
Total liabilities		144,524			(2,474	)		142,050
Stockholders’ equity:
Accumulated deficit		(339,689	)		2,474			(337,215	)
Total stockholders’ equity		31,827			2,474			34,301
	September 30, 2020
	As Originally Reported			Adjustments			As Restated
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Deferred revenue	$	18,972		$	(13,765	)	$	5,207
Total current liabilities		31,486			(13,765	)		17,721
Deferred revenue, long-term		64,864			12,118			76,982
Total liabilities		131,681			(1,647	)		130,034
Stockholders’ equity:
Accumulated deficit		(279,326	)		1,647			(277,679	)
Total stockholders’ equity		82,328			1,647			83,975

	Three Months Ended September 30, 2021
	As Originally Reported			Adjustments			As Restated
Revenue	$	13,387		$	(5,630	)	$	7,757
Loss from operations		(14,475	)		(5,630	)		(20,105	)
Net loss		(11,880	)		(5,630	)		(17,510	)
Net loss:
Basic		(11,880	)		(5,630	)		(17,510	)
Diluted		(14,467	)		(5,630	)		(20,097	)
Net loss per share:
Basic		(0.11	)		(0.05	)		(0.16	)
Diluted		(0.13	)		(0.05	)		(0.18	)
	Three Months Ended September 30, 2020
	As Originally Reported			Adjustments			As Restated
Revenue	$	3,834		$	2,804		$	6,638
Loss from operations		(15,586	)		2,804			(12,782	)
Net (loss) income		(2,092	)		2,804			712
Net (loss) income:
Basic		(2,092	)		2,804			712
Diluted		(15,316	)		2,804			(12,512	)
Net (loss) income per share:
Basic		(0.02	)		0.03			0.01
Diluted		(0.13	)		0.02			(0.11	)

	Three Months Ended September 30, 2021
	As Originally Reported			Adjustments		As Restated
Statement of Stockholders' Equity
Accumulated deficit	$	(339,689	)	$	2,474	$	(337,215	)
Total stockholders' equity		31,827			2,474		34,301
	Three Months Ended September 30, 2020
	As Originally Reported			Adjustments		As Restated
Statement of Stockholders' Equity
Accumulated deficit	$	(279,326	)	$	1,647	$	(277,679	)
Total stockholders' equity		82,328			1,647		83,975

	Three Months Ended September 30, 2021
	As Originally Reported			Adjustments			As Restated
Statement of Cash Flows
Cash flows from operating activities:
Net loss	$	(11,880	)	$	(5,630	)	$	(17,510	)
Changes in operating assets and liabilities:
Deferred revenue		14,787			5,630			20,417
Net cash used in operating activities		(7,721	)		—			(7,721	)
	Three Months Ended September 30, 2020
	As Originally Reported			Adjustments			As Restated
Statement of Cash Flows
Cash flows from operating activities:
Net (loss) income	$	(2,092	)	$	2,804		$	712
Changes in operating assets and liabilities:
Deferred revenue		1,336			(2,804	)		(1,468	)
Net cash used in operating activities		(9,111	)		—			(9,111	)

Schedule Of Revenue Associated With License Agreement

We recognized revenue associated with the following license agreements (in thousands):

	Three Months Ended September 30,
	2021		2020
	(As Restated)
KKC License Agreements	$	7,757	$	6,373
Helsinn License Agreement		—		265
	$	7,757	$	6,638
Timing of Revenue Recognition:
Services performed over time	$	7,185	$	6,297
Pass through services at a point in time	572		341
	$	7,757	$	6,638

Schedule of Changes in Accounts Receivable, Unbilled Receivables and Contract Liabilities

The following table presents changes in accounts receivable, unbilled receivables, and contract liabilities accounted for under Topic 606 during the three months ended September 30, 2021 and 2020 (in thousands):

	Three Months Ended September 30,
	2021			2020
Accounts receivable
Accounts receivable, beginning of period	$	—		$	83
Amounts billed		27,638			2,727
Payments received		(17,638	)		(2,693	)
Accounts receivable, end of period	$	10,000		$	117
Unbilled receivables
Unbilled receivables, beginning of period	$	7,582		$	2,858
Billable amounts		28,176			5,114
Amounts billed		(27,638	)		(2,727	)
Unbilled receivables, end of period	$	8,120		$	5,245
Contract liabilities
Contract liabilities, beginning of period	$	14,677		$	19,108
Revenue recognized		417			(1,718	)
Payments received		20,000			254
Contract liabilities, end of period	$	35,094		$	17,644