0000950170-21-000664.txt : 20210803 0000950170-21-000664.hdr.sgml : 20210803 20210802205023 ACCESSION NUMBER: 0000950170-21-000664 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 73 CONFORMED PERIOD OF REPORT: 20210630 FILED AS OF DATE: 20210803 DATE AS OF CHANGE: 20210802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Singular Genomics Systems, Inc. CENTRAL INDEX KEY: 0001850906 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] IRS NUMBER: 812948451 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-40443 FILM NUMBER: 211137559 BUSINESS ADDRESS: STREET 1: 10931 N. TORREY PINES ROAD, SUITE #100 CITY: LA JOLLA STATE: CA ZIP: 92037 BUSINESS PHONE: (858) 333-7830 MAIL ADDRESS: STREET 1: 10931 N. TORREY PINES ROAD, SUITE #100 CITY: LA JOLLA STATE: CA ZIP: 92037 10-Q 1 omic-20210630.htm 10-Q 10-Q
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Table of Contents

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2021

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from             to              . 


Commission File Number: 001-40443

SINGULAR GENOMICS SYSTEMS, INC.

(Exact name of Registrant as specified in its charter)

 

 

Delaware

 

81-2948451

(State or other jurisdiction of
incorporation or organization)

 

(I.R.S. Employer
Identification Number)

 

 

10931 N. Torrey Pines Road, Suite #100
La Jolla, California
(Address of principal executive offices)


92037
(Zip Code)

(858) 333-7830

(Registrant’s telephone number, including area code)

 

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, $0.0001 par value per share

OMIC

The Nasdaq Global Market LLC
(Nasdaq Global Select Market)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes ☐ No

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

  

Accelerated filer

Non-accelerated filer

  

Smaller reporting company

 

 

  

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.  

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

 

71,556,026 shares of common stock, $0.0001 par value, outstanding as of July 31, 2021.

 


Table of Contents

 

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This filing contains forward-looking statements. All statements other than statements of historical facts contained in this report, including statements regarding our future results of operations and financial position, future revenue, business strategy, prospects, products, research and development costs, timing and likelihood of success, as well as plans and objectives of management for future operations, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that are in some cases beyond our control and may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

The words “anticipate,” “believe,” contemplate,” “continue” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these terms or other similar expressions are intended to identify forward looking statements. Forward-looking statements contained in this report include, but are not limited to, statements about:

estimates of our addressable market, market growth, future revenue, expenses, capital requirements and our needs for additional financing;
our ability to successfully implement our commercialization plan for our G4 Integrated Solution and planned PX Integrated Solution;
the implementation of our business model and strategic plans for our G4 Integrated Solution and planned PX Integrated Solution;
our expectations regarding the rate and degree of market acceptance of our G4 Integrated Solution and planned PX Integrated Solution;
our ability to compete with competitive companies and technologies in our industry;
our ability to manage and grow our business and commercialize our G4 Integrated Solution and planned PX Integrated Solution;
our ability to develop and commercialize new products and development product enhancements;
the impact of COVID-19 on our business;
our ability to establish and maintain intellectual property protection for our products or avoid or defend claims of infringement;
the performance of third-party manufacturers and suppliers;
our ability to effectively manufacture our products
the potential effects of government regulation;
our ability to hire and retain key personnel and to manage our future growth effectively;
our ability to obtain additional financing in this or future offerings;
the volatility of the trading price of our common stock;
our expectations regarding use of proceeds from our initial public offering;
the impact of local, regional, and national and international economic conditions and events;
our expectations about market trends; and
our expectations regarding the period during which we will qualify as an emerging growth company under the JOBS Act.

These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described in the section titled “Risk Factors” elsewhere in this report. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this report may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.

 


Table of Contents

 

You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, advancements, discoveries, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, except as required by law, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this report to conform these statements to actual results or to changes in our expectations.

You should read this report and the documents that we reference in this report and have filed with the SEC as exhibits to this report with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect.

Summary of Material Risks Associated with Our Business

 

Our business is subject to a number of risks that if realized could materially affect our business, prospects, operating results and financial condition. These risks are discussed more fully in the “Risk Factors” section of this Quarterly Report on Form 10-Q. These risks include the following:

 

Our limited operating history makes it difficult to evaluate our future prospects and the risks and challenges we may encounter.
We have incurred significant losses since inception, we expect to incur significant losses in the future and we may not be able to generate sufficient revenue to achieve and maintain profitability.
We are a pre-revenue life science technology company in the development stage and have no history commercializing our products or technology, which makes it difficult to evaluate our prospects and predict our future performance.
The life sciences technology market is highly competitive. If we fail to compete effectively, our business and operating results will suffer.
If we are sued for infringing, misappropriating or otherwise violating intellectual property rights of third parties, such litigation could be costly and time consuming and could prevent or delay us from developing or commercializing our product candidates.
If our products fail to achieve early customer and scientific acceptance, we may not be able to achieve broader market acceptance for our products, and our revenues and prospects may be harmed.
We expect to be highly dependent upon revenue generated from the sale of our G4 Integrated Solution, and any delay or failure by us to finalize the development and to begin to commercialize our G4 Integrated Solution will have a substantial adverse effect on our business and results of operations.
The COVID-19 pandemic and efforts to reduce its spread have adversely impacted, and are expected to continue to materially and adversely impact, our business and operations.
Our business will depend significantly on research and development spending by academic institutions and other research institutions, and any reduction in spending could limit demand for our products and adversely affect our business, results of operations, financial condition and prospects.
Our operating results may fluctuate significantly in the future, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or any guidance we may provide.
We have not commercially launched any products, and we may not be able to successfully commercially launch our G4 Integrated Solution or planned PX Integrated Solution as planned.
If we are unable to obtain and maintain sufficient intellectual property protection for our products and technology, or if the scope of the intellectual property protection obtained is not sufficiently broad, our competitors could develop and commercialize products similar or identical to ours, and our ability to successfully commercialize our products may be impaired.
We may require substantial additional funding, which may not be available to us on acceptable terms, or at all, and, if not available, may require us to delay, scale back, or cease our product development programs or operations.

 


Table of Contents

 

TABLE OF CONTENTS

 

Part I - Financial Information

2

Item 1. Financial Statements (Unaudited)

2

Condensed Balance Sheets

2

Condensed Statements of Operations and Comprehensive Loss

3

Condensed Statements of Preferred Stock and Stockholders’ Equity / (Deficit)

4

Condensed Statements of Cash Flows

5

Notes to Condensed Financial Statements

6

Item 2. Management's Discussion and Analysis of financial Condition and Results of Operations

21

Item 3. Quantitative and Qualitative Disclosures About Market Risk

31

Item 4. Controls and Procedures

32

Part II - Other Information

33

Item 1. Legal Proceedings

33

Item 1A. Risk Factors

34

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

68

Item 3. Defaults Upon Senior Securities

69

Item 4. Mine Safety Disclosures

69

Item 5. Other Information

69

Item 6. Exhibits

70

Signatures

72

 

 


Table of Contents

 

PART I-FINANCIAL INFORMATION

Item 1. Financial Statements

SINGULAR GENOMICS SYSTEMS, INC.

Condensed Balance Sheets

(In thousands, except share and par value amounts)

 

 

 

 June 30,

 

 

 December 31,

 

 

 

2021

 

 

2020

 

 

 

(Unaudited)

 

 

 

 

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

257,268

 

 

$

11,688

 

Short-term investments

 

 

114,400

 

 

 

15,231

 

Prepaid expenses and other assets

 

 

7,201

 

 

 

652

 

Total current assets

 

 

378,869

 

 

 

27,571

 

Property and equipment, net

 

$

3,434

 

 

$

2,368

 

Restricted cash

 

 

687

 

 

 

482

 

Other long-term assets

 

 

990

 

 

 

81

 

Total assets

 

$

383,980

 

 

$

30,502

 

 

 

 

 

 

 

Liabilities, Convertible Preferred Stock and Stockholders’ Equity (Deficit)

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

2,698

 

 

$

427

 

Accrued expenses

 

 

1,809

 

 

 

1,592

 

Current portion of long term debt, net of issuance costs

 

 

3,473

 

 

 

926

 

Warrant liability

 

 

-

 

 

 

451

 

Other short-term liabilities

 

 

172

 

 

 

294

 

Total current liabilities

 

 

8,152

 

 

 

3,690

 

Long-term debt, net of issuance costs

 

 

6,082

 

 

 

8,469

 

Other long-term liabilities

 

 

3,168

 

 

 

714

 

Total liabilities

 

 

17,402

 

 

 

12,873

 

Commitment and contingencies (Note 7)

 

 

 

 

 

 

Convertible preferred stock, $0.0001 par value;

 

 

 

 

 

 

Series Seed, 6,520,790 shares authorized, 0 and 6,520,790 issued and outstanding at June 30, 2021 and December 31, 2020; liquidation preference of $0 and $4,499,998 at June 30, 2021 and December 31, 2020

 

 

-

 

 

 

4,486

 

Series A, 12,932,429 shares authorized, 0 and 12,932,429 issued and outstanding at June 30, 2021 and December 31, 2020; liquidation preference of $0 and $20,000,002 at June 30, 2021 and December 31, 2020

 

 

-

 

 

 

19,908

 

Series B, 19,566,903 shares authorized, 0 and 19,373,169 issued and outstanding at June 30, 2021 and December 31, 2020; liquidation preference of $0 and $44,999,997 at June 30, 2021 and December 31, 2020

 

 

-

 

 

 

44,790

 

Stockholders’ Equity (Deficit):

 

 

 

 

 

 

Common stock, $0.0001 par value; 400,000,000 and 60,272,685 shares authorized, 71,526,327 and 10,816,937 of shares outstanding at June 30, 2021 and December 31, 2020, respectively

 

 

7

 

 

 

1

 

Additional paid-in capital

 

 

481,079

 

 

 

1,552

 

Accumulated other comprehensive gain

 

 

17

 

 

 

17

 

Accumulated deficit

 

 

(114,525

)

 

 

(53,125

)

Total stockholders’ equity (deficit)

 

 

366,578

 

 

 

(51,555

)

Total liabilities, convertible preferred stock and stockholders' equity (deficit)

 

$

383,980

 

 

$

30,502

 

 

See accompanying notes to these unaudited condensed financial statements.

 

2


Table of Contents

 

SINGULAR GENOMICS SYSTEMS, INC.

Condensed  Statements of Operations and Comprehensive Loss

(Unaudited)

(In thousands, except share and per share amounts)

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

Research and development

$

7,682

 

 

$

5,325

 

 

$

14,289

 

 

$

9,351

 

General and administrative

$

6,201

 

 

$

1,443

 

 

$

9,855

 

 

$

2,820

 

Total operating expenses

$

13,883

 

 

$

6,768

 

 

$

24,144

 

 

$

12,171

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

(13,883

)

 

 

(6,768

)

 

 

(24,144

)

 

 

(12,171

)

 

 

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

Interest and other income

$

413

 

 

$

156

 

 

$

543

 

 

$

372

 

Interest expense

$

(232

)

 

$

(235

)

 

$

(420

)

 

$

(301

)

Change in fair value of convertible promissory notes

$

(23,799

)

 

$

-

 

 

$

(35,199

)

 

$

-

 

Change in fair value of warrant liability

$

22

 

 

$

-

 

 

$

(2,180

)

 

$

-

 

Net loss

$

(37,479

)

 

$

(6,847

)

 

$

(61,400

)

 

$

(12,100

)

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

Unrealized (loss) gain on available-for-sale securities

$

49

 

 

$

572

 

 

$

-

 

 

$

30

 

Comprehensive loss

$

(37,430

)

 

$

(6,275

)

 

$

(61,400

)

 

$

(12,070

)

Basic and diluted net loss per share

$

(1.18

)

 

$

(0.65

)

 

$

(2.83

)

 

$

(1.17

)

Weighted-average shares used to compute basic and diluted net loss per share

 

31,628,921

 

 

 

10,572,148

 

 

 

21,696,142

 

 

 

10,382,036

 

 

See accompanying notes to these unaudited condensed financial statements.

 

3


Table of Contents

 

SINGULAR GENOMICS SYSTEMS, INC.

Condensed  Statements of Preferred Stock and Stockholders’ Equity / (Deficit)

(Unaudited)

(In thousands, except share data)

 

 

Series Seed
Convertible
Preferred Stock

 

 

Series A
Convertible
Preferred Stock

 

 

Series B
Convertible
Preferred Stock

 

 

 

Common Stock

 

 

Additional
Paid-In

 

 

Accumulated
Other
Comprehensive

 

 

Accumulated

 

 

Total
Stockholders’

 

 

Shares

 

Amount

 

 

Shares

 

Amount

 

 

Shares

 

Amount

 

 

 

Shares

 

Amount

 

 

Capital

 

 

Gain / (Loss)

 

 

Deficit

 

 

Equity / (Deficit)

 

Balance at December 31, 2020

 

6,520,790

 

$

4,486

 

 

 

12,932,429

 

$

19,908

 

 

 

19,373,169

 

$

44,790

 

 

 

 

10,816,937

 

$

1

 

 

$

1,552

 

 

$

17

 

 

$

(53,125

)

 

$

(51,555

)

Vesting of common stock issued for early
   exercise of stock options

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

151,343

 

 

-

 

 

 

92

 

 

 

-

 

 

 

-

 

 

 

92

 

Issuance of common stock in connection
   with exercise of stock options

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

1,855,904

 

 

-

 

 

 

995

 

 

 

-

 

 

 

-

 

 

 

995

 

Stock-based compensation

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

1,096

 

 

 

-

 

 

 

-

 

 

 

1,096

 

Unrealized loss on available- for-sale
   marketable securities

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

-

 

 

 

(49

)

 

 

-

 

 

 

(49

)

Net loss

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(23,921

)

 

 

(23,921

)

Balance at March 31, 2021

 

6,520,790

 

$

4,486

 

 

 

12,932,429

 

$

19,908

 

 

 

19,373,169

 

$

44,790

 

 

 

 

12,824,184

 

$

1

 

 

$

3,735

 

 

$

(32

)

 

$

(77,046

)

 

$

(73,342

)

Conversion of preferred stock into
   common stock

 

(6,520,790

)

 

(4,486

)

 

 

(12,932,429

)

 

(19,908

)

 

 

(19,373,169

)

 

(44,790

)

 

 

 

38,826,388

 

 

4

 

 

 

69,180

 

 

 

-

 

 

 

-

 

 

 

69,184

 

Conversion of the 2021 Notes into
   common stock

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

7,531,777

 

 

1

 

 

 

165,698

 

 

 

-

 

 

 

-

 

 

 

165,699

 

Issuance of common stock upon initial
   public offering, net of issuance costs

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

11,730,000

 

 

1

 

 

 

237,198

 

 

 

-

 

 

 

-

 

 

 

237,199

 

Cashless exercise of common stock
   warrant

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

117,088

 

 

-

 

 

 

2,631

 

 

 

 

 

 

 

 

 

2,631

 

Vesting of common stock issued for early
   exercise of stock options

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

378,146

 

 

-

 

 

 

230

 

 

 

-

 

 

 

-

 

 

 

230

 

Issuance of common stock in connection
   with exercise of stock options

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

118,744

 

 

-

 

 

 

66

 

 

 

-

 

 

 

-

 

 

 

66

 

Stock-based compensation

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

2,341

 

 

 

-

 

 

 

-

 

 

 

2,341

 

Unrealized gain on available- for-sale
   marketable securities

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

-

 

 

 

49

 

 

 

-

 

 

 

49

 

Net loss

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(37,479

)

 

 

(37,479

)

Balance at June 30, 2021

 

-

 

$

-

 

 

 

-

 

$

-

 

 

 

-

 

$

-

 

 

 

 

71,526,327

 

$

7

 

 

$

481,079

 

 

$

17

 

 

$

(114,525

)

 

$

366,578

 

 

 

Series Seed
Convertible
Preferred Stock

 

 

Series A
Convertible
Preferred Stock

 

 

Series B
Convertible
Preferred Stock

 

 

 

Common Stock

 

 

Additional
Paid-In

 

 

Accumulated
Other
Comprehensive

 

 

Accumulated

 

 

Total
Stockholders’

 

 

Shares

 

Amount

 

 

Shares

 

Amount

 

 

Shares

 

Amount

 

 

 

Shares

 

Amount

 

 

Capital

 

 

Gain / (Loss)

 

 

Deficit

 

 

Equity / (Deficit)

 

Balance at December 31, 2019

 

6,520,790

 

$

4,486

 

 

 

12,932,429

 

$

19,908

 

 

 

19,373,169

 

$

44,820

 

 

 

 

10,063,023

 

$

1

 

 

$

440

 

 

$

14

 

 

$

(25,180

)

 

$

(24,725

)

Vesting of restricted common stock

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

420,833

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Vesting of common stock issued for
   early exercise of stock options

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

6,445

 

 

-

 

 

 

8

 

 

 

-

 

 

 

-

 

 

 

8

 

Issuance of common stock in
   connection with exercise of
   stock options

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

18,124

 

 

-

 

 

 

4

 

 

 

-

 

 

 

-

 

 

 

4

 

Stock-based compensation

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

239

 

 

 

-

 

 

 

-

 

 

 

239

 

Unrealized loss on available-for-sale
   marketable securities

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

-

 

 

 

(542

)

 

 

-

 

 

 

(542

)

Net loss

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(5,253

)

 

 

(5,253

)

Balance at March 31, 2020

 

6,520,790

 

$

4,486

 

 

 

12,932,429

 

$

19,908

 

 

 

19,373,169

 

$

44,820

 

 

 

 

10,508,425

 

$

1

 

 

$

691

 

 

$

(528

)

 

$

(30,433

)

 

$

(30,269

)

Vesting of restricted common stock

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

229,167

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Vesting of common stock issued for
   early exercise of stock options

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

8,143

 

 

-

 

 

 

7

 

 

 

-

 

 

 

-

 

 

 

7

 

Issuance of common stock in
   connection with exercise of
   stock options

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

3,330

 

 

-

 

 

 

2

 

 

 

-

 

 

 

-

 

 

 

2

 

Stock-based compensation

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

260

 

 

 

-

 

 

 

-

 

 

 

260

 

Unrealized gain on available-for-sale
   marketable securities

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

-

 

 

 

572

 

 

 

-

 

 

 

572

 

Net loss

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

-

 

 

-

 

 

 

 

-

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(6,847

)

 

 

(6,847

)

Balance at June 30, 2020

 

6,520,790

 

$

4,486

 

 

 

12,932,429

 

$

19,908

 

 

 

19,373,169

 

$

44,820

 

 

 

 

10,749,065

 

$

1

 

 

$

960

 

 

$

44