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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
Pay versus Performance Disclosure
This disclosure has been prepared in accordance with the SEC’s pay versus performance rules in Item 402(v) of Regulation
S-K
under the Exchange Act (“Item 402(v)”) and does not necessarily reflect value actually realized by the named executive officers or how our Compensation Committee evaluates compensation decisions in light of Company or individual performance.
The following tables and related disclosures provide information about (i) the total compensation (“SCT Total”) of our PEO and our
non-PEO
named executive officers (collectively, the “Other NEOs”) as set forth above in the subsection titled “Executive Compensation—2024 Summary Compensation Table,” (ii) the compensation actually paid (“CAP”) to our PEO and our Other NEOs, as calculated pursuant to Item 402(v), (iii) the total shareholder return (“TSR”) of both the Company and the Nasdaq Biotechnology Index; (iv) our net loss; and (vi) the relationship of the CAP to those TSRs and net loss. Our compensation programs for named executive officers are not based on financial measures, and so we have not included a column regarding a “Company-Selected Measure.”
 
                                
Value of Initial Fixed $100
Investment Based On:
        
Year
(a)
  
Summary
Compensation
Table Total
for PEO ($)
(1)

(b)
    
Compensation
Actually Paid
to PEO ($)
(2)

(c)
    
Average
Summary
Compensation
Table Total
for
Non-PEO

NEOs ($)
(3)

(d)
    
Average
Compensation
Actually Paid
to
Non-PEO

NEOs ($)
(4)

(e)
    
Total
Shareholder
Return ($)
(5)

(f)
    
Peer Group
Total
Shareholder
Return ($)
(6)

(g)
    
Net Loss ($)
(7)

(h)
 
2024
     39,639,512        42,669,028        13,803,059        15,535,124        313        107        (463,926,709
2023
     12,135,684        28,149,249        4,769,613        11,248,242        240        109        (402,265,659
2022
     13,661,941        29,657,130        5,315,171        12,584,386        183        105        (223,485,656
2021
     5,291,474        4,286,520        1,913,790        1,261,956        91        118        (100,076,195
2020
     3,374,620        13,957,951        3,503,811        10,645,847        102        118        (89,217,635
 
(1)
The dollar amounts reported in column (b) represent the amounts of total compensation reported for Grant
E. Pickering
(our Chief Executive Officer) for each corresponding year in the “Total” column of the Summary Compensation Table. Please refer to the subsection above titled “—Executive Compensation—Summary Compensation Table.” The SCT Total amounts do not reflect the actual amount of compensation earned by or paid to our PEO during the applicable years.
(2)
The dollar amounts reported in column (c) represent the amount of CAP to our PEO. The CAP amounts do not reflect the actual amount of compensation earned by or paid to our PEO during the applicable years. In accordance with Item 402(v), the following adjustments were made to our PEO’s SCT Total for each year to determine the CAP (to determine the value of stock options included in CAP, the Black-Scholes valuation model was used):
 
   
2024
   
2023
   
2022
   
2021
   
2020
 
Adjustments
 
PEO
   
PEO
   
PEO
   
PEO
   
PEO
 
SCT Total
 
$
39,639,512
 
 
$
12,135,684
 
 
$
13,661,941
 
 
$
5,291,474
 
 
$
3,374,620
 
(Deduct): Aggregate change in actuarial present value included in SCT Total for the covered fiscal year
    —        —        —        —        —   
Add: Service cost for the covered fiscal year
    —        —        —        —        —   
Add: Prior service cost for the covered fiscal year
    —        —        —        —        —   
(Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year
  $ (38,242,213     (11,001,200   $ (12,559,049   $ (4,353,113   $ (2,623,695
 
   
2024
   
2023
   
2022
   
2021
   
2020
 
Adjustments
 
PEO
   
PEO
   
PEO
   
PEO
   
PEO
 
Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end
  $ 31,805,305     $ 15,786,448     $ 19,172,031     $ 4,105,563     $ 6,055,220  
Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end
  $ 3,443,735     $ 7,868,081     $ 6,351,332     $ (651,679   $ 3,491,427  
Add: Vesting date fair value of awards granted and vested during the covered fiscal year
  $ 3,702,839     $ 3,158,794     $ 2,321,656     $ 790,370       —   
Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year
  $ 2,319,850     $ 201,441     $ 709,220     $ (896,095   $ 3,660,379  
(Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year
    —        —        —        —        —   
Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year
    —        —        —        —        —   
CAP Amounts (as calculated)
 
$
42,669,028
 
 
$
28,149,249
 
 
$
29,657,130
 
 
$
4,286,520
 
 
$
13,957,951
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
(3)
The dollar amounts reported in column (d) represent the average of the amounts reported for the Other NEOs as a group in the “Total” column of the Summary Compensation Table in each applicable year. The Other NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024, Andrew Guggenhime, Jim Wassil and Mikhail Eydelman; (ii) for 2023, Andrew Guggenhime, Jim Wassil and Mikhail Eydelman; (iii) for 2022, Andrew Guggenhime, Jim Wassil, Mikhail Eydelman and Paul Sauer; (iv) for 2021, Andrew Guggenhime, Jim Wassil, Paul Sauer and Harp Dhaliwal; and (v) for 2020, Andrew Guggenhime and Jim Wassil. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Other NEOs as a group during the applicable year.
(4)
The dollar amounts reported in column (e) represent the average of “compensation actually paid” to the Other NEOs as a group, as computed in accordance with Item 402(v). The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Other NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v), the following adjustments were made
  to average total compensation for the Other NEOs as a group for each year to determine the CAP, using the same methodology described above in Note (2).
 
   
2024
   
2023
   
2022
   
2021
   
2020
 
Adjustments
 
Other NEOs
   
Other NEOs
   
Other NEOs
   
Other NEOs
   
Other NEOs
 
SCT Total
 
$
13,803,059
 
 
$
4,769,613
 
 
$
5,315,171
 
 
$
1,913,790
 
 
$
3,503,811
 
(Deduct): Aggregate change in actuarial present value included in SCT Total for the covered fiscal year
    —        —        —        —        —   
Add: Service cost for the covered fiscal year
    —        —        —        —        —   
Add: Prior service cost for the covered fiscal year
    —        —        —        —        —   
(Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year
  $ (13,014,265   $ (4,094,139   $ (4,575,299   $ (1,401,561   $ (2,916,624
Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end
  $ 10,724,688     $ 5,738,325     $ 8,149,296     $ 1,314,076     $ 7,100,782  
Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end
  $ 1,483,006     $ 3,536,479     $ 2,700,860     $ (399,844   $ 2,199,310  
Add: Vesting date fair value of awards granted and vested during the covered fiscal year
  $ 1,522,377     $ 1,243,430     $ 585,457     $ 192,495       —   
Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year
  $ 1,016,259     $ 54,518     $ 408,902     $ (357,000   $ 758,569  
(Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year
    —        —        —        —        —   
Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year
    —        —        —        —        —   
CAP Amounts (as calculated)
 
$
15,535,124
 
 
$
11,248,242
 
 
$
12,584,386
 
 
$
1,261,956
 
 
$
10,645,847
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
 
(5)
Cumulative TSR is calculated assuming an investment of $100 in our common stock at the closing price of $26.15 on June 12, 2020, the date our common stock commenced trading on the Nasdaq Global Select Market.
 
(6)
Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the following published industry index: Nasdaq Biotechnology Index.
(7)
Represents the amount of net loss as reported in our Statements of Comprehensive Loss included in our Annual Reports on Form
10-K
for the years ended December 31, 2024, 2023, 2022, 2021 and 2020.
       
Named Executive Officers, Footnote The Other NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024, Andrew Guggenhime, Jim Wassil and Mikhail Eydelman; (ii) for 2023, Andrew Guggenhime, Jim Wassil and Mikhail Eydelman; (iii) for 2022, Andrew Guggenhime, Jim Wassil, Mikhail Eydelman and Paul Sauer; (iv) for 2021, Andrew Guggenhime, Jim Wassil, Paul Sauer and Harp Dhaliwal; and (v) for 2020, Andrew Guggenhime and Jim Wassil. The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Other NEOs as a group during the applicable year.        
Peer Group Issuers, Footnote Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the following published industry index: Nasdaq Biotechnology Index.        
PEO Total Compensation Amount $ 39,639,512 $ 12,135,684 $ 13,661,941 $ 5,291,474 $ 3,374,620
PEO Actually Paid Compensation Amount $ 42,669,028 28,149,249 29,657,130 4,286,520 13,957,951
Adjustment To PEO Compensation, Footnote
(2)
The dollar amounts reported in column (c) represent the amount of CAP to our PEO. The CAP amounts do not reflect the actual amount of compensation earned by or paid to our PEO during the applicable years. In accordance with Item 402(v), the following adjustments were made to our PEO’s SCT Total for each year to determine the CAP (to determine the value of stock options included in CAP, the Black-Scholes valuation model was used):
 
   
2024
   
2023
   
2022
   
2021
   
2020
 
Adjustments
 
PEO
   
PEO
   
PEO
   
PEO
   
PEO
 
SCT Total
 
$
39,639,512
 
 
$
12,135,684
 
 
$
13,661,941
 
 
$
5,291,474
 
 
$
3,374,620
 
(Deduct): Aggregate change in actuarial present value included in SCT Total for the covered fiscal year
    —        —        —        —        —   
Add: Service cost for the covered fiscal year
    —        —        —        —        —   
Add: Prior service cost for the covered fiscal year
    —        —        —        —        —   
(Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year
  $ (38,242,213     (11,001,200   $ (12,559,049   $ (4,353,113   $ (2,623,695
 
   
2024
   
2023
   
2022
   
2021
   
2020
 
Adjustments
 
PEO
   
PEO
   
PEO
   
PEO
   
PEO
 
Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end
  $ 31,805,305     $ 15,786,448     $ 19,172,031     $ 4,105,563     $ 6,055,220  
Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end
  $ 3,443,735     $ 7,868,081     $ 6,351,332     $ (651,679   $ 3,491,427  
Add: Vesting date fair value of awards granted and vested during the covered fiscal year
  $ 3,702,839     $ 3,158,794     $ 2,321,656     $ 790,370       —   
Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year
  $ 2,319,850     $ 201,441     $ 709,220     $ (896,095   $ 3,660,379  
(Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year
    —        —        —        —        —   
Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year
    —        —        —        —        —   
CAP Amounts (as calculated)
 
$
42,669,028
 
 
$
28,149,249
 
 
$
29,657,130
 
 
$
4,286,520
 
 
$
13,957,951
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
       
Non-PEO NEO Average Total Compensation Amount $ 13,803,059 4,769,613 5,315,171 1,913,790 3,503,811
Non-PEO NEO Average Compensation Actually Paid Amount $ 15,535,124 11,248,242 12,584,386 1,261,956 10,645,847
Adjustment to Non-PEO NEO Compensation Footnote
(4)
The dollar amounts reported in column (e) represent the average of “compensation actually paid” to the Other NEOs as a group, as computed in accordance with Item 402(v). The dollar amounts do not reflect the actual average amount of compensation earned by or paid to the Other NEOs as a group during the applicable year. In accordance with the requirements of Item 402(v), the following adjustments were made
  to average total compensation for the Other NEOs as a group for each year to determine the CAP, using the same methodology described above in Note (2).
 
   
2024
   
2023
   
2022
   
2021
   
2020
 
Adjustments
 
Other NEOs
   
Other NEOs
   
Other NEOs
   
Other NEOs
   
Other NEOs
 
SCT Total
 
$
13,803,059
 
 
$
4,769,613
 
 
$
5,315,171
 
 
$
1,913,790
 
 
$
3,503,811
 
(Deduct): Aggregate change in actuarial present value included in SCT Total for the covered fiscal year
    —        —        —        —        —   
Add: Service cost for the covered fiscal year
    —        —        —        —        —   
Add: Prior service cost for the covered fiscal year
    —        —        —        —        —   
(Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year
  $ (13,014,265   $ (4,094,139   $ (4,575,299   $ (1,401,561   $ (2,916,624
Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end
  $ 10,724,688     $ 5,738,325     $ 8,149,296     $ 1,314,076     $ 7,100,782  
Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end
  $ 1,483,006     $ 3,536,479     $ 2,700,860     $ (399,844   $ 2,199,310  
Add: Vesting date fair value of awards granted and vested during the covered fiscal year
  $ 1,522,377     $ 1,243,430     $ 585,457     $ 192,495       —   
Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year
  $ 1,016,259     $ 54,518     $ 408,902     $ (357,000   $ 758,569  
(Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year
    —        —        —        —        —   
Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year
    —        —        —        —        —   
CAP Amounts (as calculated)
 
$
15,535,124
 
 
$
11,248,242
 
 
$
12,584,386
 
 
$
1,261,956
 
 
$
10,645,847
 
 
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
       
Compensation Actually Paid vs. Total Shareholder Return
LOGO
       
Compensation Actually Paid vs. Net Income
LOGO
       
Total Shareholder Return Vs Peer Group
LOGO
       
Total Shareholder Return Amount $ 313 240 183 91 102
Peer Group Total Shareholder Return Amount 107 109 105 118 118
Net Income (Loss) $ (463,926,709) (402,265,659) (223,485,656) (100,076,195) (89,217,635)
PEO Name Grant E. Pickering        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (38,242,213) (11,001,200) (12,559,049) (4,353,113) (2,623,695)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 31,805,305 15,786,448 19,172,031 4,105,563 6,055,220
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,702,839 3,158,794 2,321,656 790,370  
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,319,850 201,441 709,220 (896,095) 3,660,379
PEO | Year Over Year Change in Fair Value at Covered Fiscal Year End of Awards Granted in Any Prior Fiscal Year that were Outstanding and Unvested at the Covered Fiscal Year End [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,443,735 7,868,081 6,351,332 (651,679) 3,491,427
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (13,014,265) (4,094,139) (4,575,299) (1,401,561) (2,916,624)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 10,724,688 5,738,325 8,149,296 1,314,076 7,100,782
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,522,377 1,243,430 585,457 192,495  
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,016,259 54,518 408,902 (357,000) 758,569
Non-PEO NEO | Year Over Year Change in Fair Value at Covered Fiscal Year End of Awards Granted in Any Prior Fiscal Year that were Outstanding and Unvested at the Covered Fiscal Year End [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 1,483,006 $ 3,536,479 $ 2,700,860 $ (399,844) $ 2,199,310