vir-10q_20190930.htm
false Q3 0001706431 --12-31 Non-accelerated Filer 0.222222222 0 0 2019-11-30 P5Y P4Y P4Y P9Y1M17D P8Y10M9D P8Y10M9D P8Y6M14D P6Y P6Y P6Y 0.894 0.881 0.025 0.029 P5Y10M24D P6Y 0.885 0.876 0.885 0.876 0.019 0.028 0.019 0.025 0001706431 2019-01-01 2019-09-30 xbrli:shares 0001706431 2019-11-15 iso4217:USD 0001706431 2019-09-30 0001706431 2018-12-31 iso4217:USD xbrli:shares 0001706431 us-gaap:GrantMember 2019-07-01 2019-09-30 0001706431 us-gaap:GrantMember 2018-07-01 2018-09-30 0001706431 us-gaap:GrantMember 2019-01-01 2019-09-30 0001706431 us-gaap:GrantMember 2018-01-01 2018-09-30 0001706431 vir:ContractRevenueMember 2019-07-01 2019-09-30 0001706431 vir:ContractRevenueMember 2018-07-01 2018-09-30 0001706431 vir:ContractRevenueMember 2019-01-01 2019-09-30 0001706431 vir:ContractRevenueMember 2018-01-01 2018-09-30 0001706431 2019-07-01 2019-09-30 0001706431 2018-07-01 2018-09-30 0001706431 2018-01-01 2018-09-30 0001706431 us-gaap:ConvertiblePreferredStockMember 2019-06-30 0001706431 us-gaap:ConvertiblePreferredStockMember 2019-09-30 0001706431 us-gaap:ConvertiblePreferredStockMember 2018-06-30 0001706431 vir:SeriesAOneConvertiblePreferredStockMember 2018-07-01 2018-09-30 0001706431 us-gaap:ConvertiblePreferredStockMember 2018-09-30 0001706431 us-gaap:CommonStockMember 2019-06-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001706431 us-gaap:RetainedEarningsMember 2019-06-30 0001706431 2019-06-30 0001706431 us-gaap:CommonStockMember 2019-07-01 2019-09-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2019-07-01 2019-09-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-07-01 2019-09-30 0001706431 us-gaap:RetainedEarningsMember 2019-07-01 2019-09-30 0001706431 us-gaap:CommonStockMember 2019-09-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2019-09-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-09-30 0001706431 us-gaap:RetainedEarningsMember 2019-09-30 0001706431 us-gaap:CommonStockMember 2018-06-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0001706431 us-gaap:RetainedEarningsMember 2018-06-30 0001706431 2018-06-30 0001706431 us-gaap:CommonStockMember 2018-07-01 2018-09-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2018-07-01 2018-09-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-07-01 2018-09-30 0001706431 us-gaap:RetainedEarningsMember 2018-07-01 2018-09-30 0001706431 us-gaap:CommonStockMember 2018-09-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2018-09-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-09-30 0001706431 us-gaap:RetainedEarningsMember 2018-09-30 0001706431 2018-09-30 0001706431 us-gaap:ConvertiblePreferredStockMember 2018-12-31 0001706431 vir:SeriesBConvertiblePreferredStockMember 2019-01-01 2019-09-30 0001706431 us-gaap:ConvertiblePreferredStockMember 2017-12-31 0001706431 vir:SeriesAOneConvertiblePreferredStockMember 2018-01-01 2018-09-30 0001706431 vir:SeriesATwoConvertiblePreferredStockMember 2018-01-01 2018-09-30 0001706431 us-gaap:CommonStockMember 2018-12-31 0001706431 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001706431 us-gaap:RetainedEarningsMember 2018-12-31 0001706431 us-gaap:CommonStockMember 2019-01-01 2019-09-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-09-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-09-30 0001706431 us-gaap:RetainedEarningsMember 2019-01-01 2019-09-30 0001706431 us-gaap:CommonStockMember 2017-12-31 0001706431 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001706431 us-gaap:RetainedEarningsMember 2017-12-31 0001706431 2017-12-31 0001706431 us-gaap:CommonStockMember 2018-01-01 2018-09-30 0001706431 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-09-30 0001706431 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-09-30 0001706431 us-gaap:RetainedEarningsMember 2018-01-01 2018-09-30 0001706431 vir:SeriesAOneConvertiblePreferredStockMember 2019-07-01 2019-09-30 0001706431 vir:ConvertiblePreferredStockWarrantLiabilityMember 2019-01-01 2019-09-30 0001706431 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-09-30 xbrli:pure 0001706431 2019-09-16 2019-09-16 0001706431 us-gaap:IPOMember us-gaap:SubsequentEventMember 2019-10-09 2019-10-10 0001706431 us-gaap:IPOMember us-gaap:SubsequentEventMember 2019-10-10 0001706431 us-gaap:SubsequentEventMember 2019-10-09 2019-10-10 0001706431 us-gaap:IPOMember us-gaap:CommonStockMember us-gaap:SubsequentEventMember us-gaap:ConvertiblePreferredStockMember 2019-10-09 2019-10-10 0001706431 vir:SeriesAOneConvertiblePreferredStockMember 2016-09-30 0001706431 us-gaap:IPOMember us-gaap:CommonStockMember us-gaap:SubsequentEventMember vir:ConvertiblePreferredStockWarrantLiabilityMember 2019-10-09 2019-10-10 0001706431 us-gaap:IPOMember 2019-09-30 0001706431 us-gaap:IPOMember 2018-12-31 0001706431 srt:MinimumMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-09-30 0001706431 srt:MinimumMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2018-12-31 0001706431 srt:MaximumMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2019-09-30 0001706431 srt:MaximumMember us-gaap:MeasurementInputRiskFreeInterestRateMember 2018-12-31 0001706431 us-gaap:MeasurementInputExercisePriceMember us-gaap:ValuationTechniqueOptionPricingModelMember vir:ConvertiblePreferredStockWarrantLiabilityMember 2019-09-30 0001706431 us-gaap:MeasurementInputExercisePriceMember us-gaap:ValuationTechniqueOptionPricingModelMember vir:ConvertiblePreferredStockWarrantLiabilityMember 2018-12-31 0001706431 us-gaap:MeasurementInputExpectedTermMember us-gaap:ValuationTechniqueOptionPricingModelMember vir:ConvertiblePreferredStockWarrantLiabilityMember 2019-09-30 0001706431 us-gaap:MeasurementInputExpectedTermMember us-gaap:ValuationTechniqueOptionPricingModelMember vir:ConvertiblePreferredStockWarrantLiabilityMember 2018-12-31 0001706431 us-gaap:MeasurementInputPriceVolatilityMember us-gaap:ValuationTechniqueOptionPricingModelMember vir:ConvertiblePreferredStockWarrantLiabilityMember 2019-09-30 0001706431 us-gaap:MeasurementInputPriceVolatilityMember us-gaap:ValuationTechniqueOptionPricingModelMember vir:ConvertiblePreferredStockWarrantLiabilityMember 2018-12-31 0001706431 us-gaap:MeasurementInputRiskFreeInterestRateMember us-gaap:ValuationTechniqueOptionPricingModelMember vir:ConvertiblePreferredStockWarrantLiabilityMember 2019-09-30 0001706431 us-gaap:MeasurementInputRiskFreeInterestRateMember us-gaap:ValuationTechniqueOptionPricingModelMember vir:ConvertiblePreferredStockWarrantLiabilityMember 2018-12-31 0001706431 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member 2019-09-30 0001706431 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel2Member 2019-09-30 0001706431 us-gaap:BankTimeDepositsMember us-gaap:FairValueInputsLevel2Member 2019-09-30 0001706431 vir:ConvertiblePreferredStockWarrantLiabilityMember us-gaap:FairValueInputsLevel3Member 2019-09-30 0001706431 vir:ContingentConsiderationLiabilityMember us-gaap:FairValueInputsLevel3Member 2019-09-30 0001706431 us-gaap:MoneyMarketFundsMember us-gaap:FairValueInputsLevel1Member 2018-12-31 0001706431 vir:StructuredDepositsMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0001706431 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueInputsLevel2Member 2018-12-31 0001706431 vir:ConvertiblePreferredStockWarrantLiabilityMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0001706431 vir:ContingentConsiderationLiabilityMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0001706431 srt:MaximumMember 2019-09-30 0001706431 vir:WarrantLiabilityMember us-gaap:FairValueInputsLevel3Member 2018-12-31 0001706431 us-gaap:FairValueInputsLevel3Member 2018-12-31 0001706431 vir:ContingentConsiderationLiabilityMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-09-30 0001706431 vir:WarrantLiabilityMember us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-09-30 0001706431 us-gaap:FairValueInputsLevel3Member 2019-01-01 2019-09-30 0001706431 vir:WarrantLiabilityMember us-gaap:FairValueInputsLevel3Member 2019-09-30 0001706431 us-gaap:FairValueInputsLevel3Member 2019-09-30 0001706431 vir:TomegaVaxIncMember 2016-09-01 2016-09-30 0001706431 vir:TomegaVaxIncMember vir:LetterAgreementMember 2016-09-30 0001706431 vir:TomegaVaxIncMember vir:LetterAgreementMember 2019-01-01 2019-09-30 0001706431 vir:TomegaVaxIncMember vir:LetterAgreementMember 2019-09-30 0001706431 vir:HumabsBiomedSAMember 2017-08-01 2017-08-31 0001706431 vir:HumabsBiomedSAMember vir:HepatitisBVirusProductMember 2017-08-31 0001706431 vir:HumabsBiomedSAMember vir:AnotherProductMember 2017-08-31 0001706431 vir:HumabsBiomedSAMember 2017-08-31 0001706431 us-gaap:DevelopedTechnologyRightsMember srt:MinimumMember vir:HumabsBiomedSAMember 2019-01-01 2019-09-30 0001706431 us-gaap:DevelopedTechnologyRightsMember vir:HumabsBiomedSAMember srt:MaximumMember 2019-01-01 2019-09-30 0001706431 vir:HumabsBiomedSAMember 2019-01-01 2019-09-30 0001706431 vir:HumabsBiomedSAMember 2019-09-30 0001706431 vir:AgenovirCorporationMember 2018-01-01 2018-01-31 0001706431 vir:AgenovirCorporationMember vir:SeriesATwoConvertiblePreferredStockMember 2018-01-01 2018-01-31 0001706431 vir:AgenovirCorporationMember vir:SeriesATwoConvertiblePreferredStockMember 2018-01-31 0001706431 vir:AgenovirCorporationMember 2018-01-31 0001706431 vir:AgenovirCorporationMember 2019-04-01 2019-04-30 0001706431 vir:AgenovirCorporationMember 2018-01-01 2018-09-30 0001706431 vir:AgenovirCorporationMember us-gaap:PropertyPlantAndEquipmentMember 2018-01-01 2018-09-30 0001706431 vir:AgenovirCorporationMember us-gaap:InProcessResearchAndDevelopmentMember 2018-01-01 2018-09-30 0001706431 vir:AgenovirCorporationMember vir:HepatitisBVirusProductMember 2018-01-31 0001706431 vir:AgenovirCorporationMember vir:HumanPapillomavirusProgramMember 2018-01-31 vir:Milestone 0001706431 vir:AgenovirCorporationMember 2019-01-01 2019-09-30 0001706431 vir:AgenovirCorporationMember 2019-09-30 0001706431 vir:StateraHealthLimitedLiabilityCompanyMember 2019-02-01 2019-02-28 0001706431 vir:SeriesATwoConvertiblePreferredStockMember vir:StateraHealthLimitedLiabilityCompanyMember 2019-02-01 2019-02-28 0001706431 vir:SeriesATwoConvertiblePreferredStockMember vir:StateraHealthLimitedLiabilityCompanyMember 2019-02-28 0001706431 vir:StateraHealthLimitedLiabilityCompanyMember 2019-02-28 0001706431 vir:StateraHealthLimitedLiabilityCompanyMember us-gaap:DevelopedTechnologyRightsMember 2019-02-01 2019-02-28 0001706431 vir:TwoThousandSeventeenGrantMember srt:MaximumMember vir:BillAndMelindaGatesFoundationMember 2017-08-31 0001706431 vir:TwoThousandSeventeenGrantMember vir:BillAndMelindaGatesFoundationMember 2017-08-01 2017-08-31 0001706431 us-gaap:GrantMember vir:BillAndMelindaGatesFoundationMember 2019-07-01 2019-09-30 0001706431 us-gaap:GrantMember vir:BillAndMelindaGatesFoundationMember 2018-07-01 2018-09-30 0001706431 us-gaap:GrantMember vir:BillAndMelindaGatesFoundationMember 2019-01-01 2019-09-30 0001706431 us-gaap:GrantMember vir:BillAndMelindaGatesFoundationMember 2018-01-01 2018-09-30 0001706431 vir:HumanImmunodeficiencyVirusGrantMember srt:MaximumMember 2018-01-26 0001706431 us-gaap:GrantMember vir:BillAndMelindaGatesFoundationMember vir:HumanImmunodeficiencyVirusGrantMember 2019-07-01 2019-09-30 0001706431 us-gaap:GrantMember vir:BillAndMelindaGatesFoundationMember vir:HumanImmunodeficiencyVirusGrantMember 2018-07-01 2018-09-30 0001706431 us-gaap:GrantMember vir:BillAndMelindaGatesFoundationMember vir:HumanImmunodeficiencyVirusGrantMember 2019-01-01 2019-09-30 0001706431 us-gaap:GrantMember vir:BillAndMelindaGatesFoundationMember vir:HumanImmunodeficiencyVirusGrantMember 2018-01-01 2018-09-30 0001706431 vir:TuberculosisTBGrantMember srt:MaximumMember 2018-03-16 0001706431 vir:TuberculosisTBGrantMember us-gaap:GrantMember 2019-07-01 2019-09-30 0001706431 vir:TuberculosisTBGrantMember us-gaap:GrantMember 2018-07-01 2018-09-30 0001706431 vir:TuberculosisTBGrantMember us-gaap:GrantMember 2019-01-01 2019-09-30 0001706431 vir:TuberculosisTBGrantMember us-gaap:GrantMember 2018-01-01 2018-09-30 0001706431 vir:NationalInstitutesOfHealthMember 2019-09-30 0001706431 vir:NationalInstitutesOfHealthMember us-gaap:GrantMember 2019-07-01 2019-09-30 0001706431 vir:NationalInstitutesOfHealthMember us-gaap:GrantMember 2018-07-01 2018-09-30 0001706431 vir:NationalInstitutesOfHealthMember us-gaap:GrantMember 2019-01-01 2019-09-30 0001706431 vir:NationalInstitutesOfHealthMember us-gaap:GrantMember 2018-01-01 2018-09-30 0001706431 vir:BriiAgreementMember vir:BriiBioParentMember 2018-05-01 2018-05-31 0001706431 vir:BriiAgreementMember vir:BriiBioParentMember 2018-05-31 0001706431 vir:BriiAgreementMember vir:BriiBiosciencesOffshoreLimitedMember srt:MaximumMember 2018-05-31 0001706431 vir:BriiAgreementMember vir:BriiBiosciencesOffshoreLimitedMember srt:MaximumMember vir:LicensedProductByLicensedProductMember 2018-05-31 0001706431 vir:BriiAgreementMember vir:BriiBiosciencesOffshoreLimitedMember srt:MaximumMember country:CN 2018-05-31 0001706431 vir:BriiAgreementMember vir:BriiBiosciencesOffshoreLimitedMember srt:MaximumMember country:US 2018-05-31 0001706431 vir:BriiAgreementMember 2018-05-01 2018-05-31 0001706431 vir:BriiAgreementMember vir:BriiBioParentMember us-gaap:OtherAssetsMember 2018-05-31 0001706431 vir:BriiAgreementMember vir:BriiBiosciencesOffshoreLimitedMember us-gaap:OtherAssetsMember 2018-05-31 0001706431 vir:BriiAgreementMember vir:BriiBiosciencesOffshoreLimitedMember us-gaap:OtherAssetsMember 2019-09-30 0001706431 vir:BriiAgreementMember vir:BriiBiosciencesOffshoreLimitedMember us-gaap:OtherAssetsMember 2018-12-31 0001706431 vir:AlnylamPharmaceuticalsIncMember vir:AlnylamAgreementMember 2017-10-01 2017-10-31 0001706431 vir:AlnylamPharmaceuticalsIncMember vir:AlnylamAgreementMember 2018-12-31 0001706431 vir:AlnylamPharmaceuticalsIncMember vir:AlnylamAgreementMember vir:FirstSiRNAProductMember 2017-10-01 2017-10-31 0001706431 vir:AlnylamPharmaceuticalsIncMember vir:AlnylamAgreementMember vir:EachInfectiousDiseaseSiRNAMember 2017-10-01 2017-10-31 0001706431 vir:AlnylamPharmaceuticalsIncMember vir:AlnylamAgreementMember vir:CommercializationMember 2017-10-01 2017-10-31 0001706431 vir:AlnylamPharmaceuticalsIncMember vir:AlnylamAgreementMember 2019-07-01 2019-09-30 0001706431 vir:AlnylamPharmaceuticalsIncMember vir:AlnylamAgreementMember 2018-07-01 2018-09-30 0001706431 vir:AlnylamPharmaceuticalsIncMember vir:AlnylamAgreementMember 2019-01-01 2019-09-30 0001706431 vir:AlnylamPharmaceuticalsIncMember vir:AlnylamAgreementMember 2018-01-01 2018-09-30 0001706431 vir:VisterraIncMember vir:VisterraAgreementMember us-gaap:ResearchAndDevelopmentExpenseMember 2019-01-01 2019-09-30 0001706431 vir:VisterraIncMember vir:VisterraAgreementMember us-gaap:ResearchAndDevelopmentExpenseMember 2018-07-01 2018-09-30 0001706431 vir:VisterraIncMember vir:VisterraAgreementMember us-gaap:ResearchAndDevelopmentExpenseMember 2018-01-01 2018-09-30 0001706431 vir:VisterraIncMember vir:VisterraAgreementMember 2019-07-01 2019-09-30 0001706431 vir:VisterraIncMember vir:VisterraAgreementMember 2019-01-01 2019-09-30 0001706431 vir:VisterraIncMember vir:VisterraAgreementMember 2017-08-01 2017-08-31 0001706431 vir:RockefellerUniversityMember vir:RockefellerAgreementMember 2018-07-01 2018-07-31 0001706431 vir:RockefellerUniversityMember vir:RockefellerAgreementMember vir:CommercializationMember 2018-07-01 2018-07-31 0001706431 vir:RockefellerUniversityMember vir:RockefellerAgreementMember vir:FirstInfectiousDiseaseProductMember 2018-07-01 2018-07-31 0001706431 vir:RockefellerUniversityMember vir:RockefellerAgreementMember vir:FirstFourOtherInfectiousDiseaseProductsMember 2018-07-01 2018-07-31 0001706431 vir:RockefellerUniversityMember vir:RockefellerAgreementMember vir:AnyOtherInfectiousDiseaseProductMember 2018-07-01 2018-07-31 0001706431 vir:RockefellerUniversityMember vir:RockefellerAgreementMember us-gaap:ResearchAndDevelopmentExpenseMember 2019-01-01 2019-09-30 0001706431 vir:MedImmuneLimitedLiabilityCompanyMember vir:TwoThousandAndEighteenMedImmuneAgreementMember 2018-09-01 2018-09-30 0001706431 vir:MedImmuneLimitedLiabilityCompanyMember vir:TwoThousandAndEighteenMedImmuneAgreementMember vir:InfluenzaAAndInfluenzaBMember 2018-09-01 2018-09-30 0001706431 vir:MedImmuneLimitedLiabilityCompanyMember vir:TwoThousandAndEighteenMedImmuneAgreementMember vir:InfluenzaAMember 2019-09-01 2019-09-30 0001706431 vir:XencorIncorporationMember vir:XencorAgreementMember vir:InfluenzaAResearchProgramsMember 2019-08-01 2019-08-31 0001706431 vir:XencorIncorporationMember vir:XencorAgreementMember vir:HBVResearchProgramsMember 2019-08-01 2019-08-31 0001706431 vir:XencorIncorporationMember vir:XencorAgreementMember vir:InfluenzaAAndHBVResearchProgramsMember 2019-08-01 2019-08-31 0001706431 vir:XencorIncorporationMember vir:XencorAgreementMember 2019-08-01 2019-08-31 0001706431 vir:XencorAgreementMember vir:XencorIncorporationMember 2019-09-01 2019-09-30 0001706431 vir:LabEquipmentMember 2019-09-30 0001706431 vir:LabEquipmentMember 2018-12-31 0001706431 us-gaap:ComputerEquipmentMember 2019-09-30 0001706431 us-gaap:ComputerEquipmentMember 2018-12-31 0001706431 us-gaap:FurnitureAndFixturesMember 2019-09-30 0001706431 us-gaap:FurnitureAndFixturesMember 2018-12-31 0001706431 us-gaap:LeaseholdImprovementsMember 2019-09-30 0001706431 us-gaap:LeaseholdImprovementsMember 2018-12-31 0001706431 us-gaap:ConstructionInProgressMember 2018-12-31 0001706431 2019-08-01 2019-08-31 0001706431 2019-08-31 0001706431 vir:PromissoryNoteMember vir:ExecutiveOfficerAndDirectorMember 2017-01-31 0001706431 vir:PromissoryNoteMember 2019-01-01 2019-09-30 0001706431 vir:PromissoryNoteMember 2018-12-31 0001706431 vir:PromissoryNoteMember 2019-08-01 2019-08-31 0001706431 vir:SeriesBConvertiblePreferredStockMember 2019-01-31 0001706431 vir:SeriesAOneConvertiblePreferredStockMember 2018-06-01 2018-06-30 0001706431 vir:SeriesAOneConvertiblePreferredStockMember 2018-06-30 0001706431 vir:SeriesAOneConvertiblePreferredStockMember vir:FirstAndSecondClosingsMember 2018-06-01 2018-06-30 0001706431 vir:SeriesAOneConvertiblePreferredStockMember vir:ThirdClosingMember 2018-07-01 2018-07-31 0001706431 vir:SeriesBConvertiblePreferredStockMember 2019-01-01 2019-01-31 0001706431 vir:SeriesAOneConvertiblePreferredStockMember 2019-09-30 0001706431 vir:SeriesATwoConvertiblePreferredStockMember 2019-09-30 0001706431 vir:SeriesBConvertiblePreferredStockMember 2019-09-30 0001706431 vir:SeriesAOneConvertiblePreferredStockMember 2018-12-31 0001706431 vir:SeriesATwoConvertiblePreferredStockMember 2018-12-31 0001706431 vir:SeriesBConvertiblePreferredStockMember 2018-12-31 0001706431 vir:SeniorPreferredStockMember 2019-01-01 2019-09-30 0001706431 vir:SeriesAOneConvertiblePreferredStockMember 2019-01-01 2019-09-30 0001706431 vir:SeriesATwoConvertiblePreferredStockMember 2019-01-01 2019-09-30 0001706431 srt:MinimumMember 2019-01-01 2019-09-30 vir:Director 0001706431 2016-09-01 2016-09-30 0001706431 us-gaap:MeasurementInputPriceVolatilityMember 2016-09-30 0001706431 2016-09-30 0001706431 us-gaap:MeasurementInputRiskFreeInterestRateMember 2016-09-30 0001706431 us-gaap:MeasurementInputExercisePriceMember 2016-09-30 0001706431 us-gaap:MeasurementInputExpectedDividendRateMember 2016-09-30 0001706431 us-gaap:SubsequentEventMember us-gaap:CommonStockMember 2019-10-10 0001706431 vir:TwoThousandSixteenEquityIncentivePlanMember srt:MaximumMember 2016-09-01 2016-09-30 0001706431 vir:TwoThousandSixteenEquityIncentivePlanMember 2016-09-01 2016-09-30 0001706431 vir:TwoThousandSixteenEquityIncentivePlanMember 2019-09-30 0001706431 vir:TwoThousandNineteenEquityIncentivePlanMember srt:MaximumMember 2019-09-01 2019-09-30 0001706431 vir:TwoThousandNineteenEquityIncentivePlanMember 2019-09-01 2019-09-30 0001706431 vir:TwoThousandNineteenEquityIncentivePlanMember 2019-09-30 0001706431 vir:TwoThousandNineteenEmployeeStockPurchasePlanMember us-gaap:CommonStockMember 2019-09-30 0001706431 vir:TwoThousandSixteenEquityIncentivePlanMember us-gaap:EmployeeStockOptionMember 2018-12-31 0001706431 vir:TwoThousandSixteenEquityIncentivePlanMember us-gaap:EmployeeStockOptionMember 2019-01-01 2019-09-30 0001706431 vir:TwoThousandSixteenEquityIncentivePlanMember us-gaap:EmployeeStockOptionMember 2019-09-30 0001706431 vir:TwoThousandSixteenEquityIncentivePlanMember us-gaap:EmployeeStockOptionMember 2018-01-01 2018-12-31 0001706431 us-gaap:EmployeeStockOptionMember 2019-07-01 2019-09-30 0001706431 us-gaap:EmployeeStockOptionMember 2018-07-01 2018-09-30 0001706431 us-gaap:EmployeeStockOptionMember 2018-01-01 2018-09-30 0001706431 us-gaap:EmployeeStockOptionMember 2019-09-30 0001706431 srt:MaximumMember 2019-01-01 2019-09-30 0001706431 us-gaap:RestrictedStockMember 2018-12-31 0001706431 us-gaap:RestrictedStockMember 2019-01-01 2019-09-30 0001706431 us-gaap:RestrictedStockMember 2019-09-30 0001706431 vir:RestrictedStockPurchaseAgreementMember vir:ExecutiveOfficerAndDirectorMember 2017-01-01 2017-01-31 0001706431 us-gaap:RestrictedStockMember 2019-08-01 2019-08-31 0001706431 us-gaap:ResearchAndDevelopmentExpenseMember 2019-07-01 2019-09-30 0001706431 us-gaap:ResearchAndDevelopmentExpenseMember 2018-07-01 2018-09-30 0001706431 us-gaap:ResearchAndDevelopmentExpenseMember 2019-01-01 2019-09-30 0001706431 us-gaap:ResearchAndDevelopmentExpenseMember 2018-01-01 2018-09-30 0001706431 us-gaap:GeneralAndAdministrativeExpenseMember 2019-07-01 2019-09-30 0001706431 us-gaap:GeneralAndAdministrativeExpenseMember 2018-07-01 2018-09-30 0001706431 us-gaap:GeneralAndAdministrativeExpenseMember 2019-01-01 2019-09-30 0001706431 us-gaap:GeneralAndAdministrativeExpenseMember 2018-01-01 2018-09-30 0001706431 us-gaap:ConvertibleDebtSecuritiesMember 2019-01-01 2019-09-30 0001706431 us-gaap:ConvertibleDebtSecuritiesMember 2018-01-01 2018-09-30 0001706431 us-gaap:EmployeeStockOptionMember 2019-01-01 2019-09-30 0001706431 us-gaap:EmployeeStockOptionMember 2018-01-01 2018-09-30 0001706431 us-gaap:RestrictedStockMember 2019-01-01 2019-09-30 0001706431 us-gaap:RestrictedStockMember 2018-01-01 2018-09-30 0001706431 us-gaap:WarrantMember 2019-01-01 2019-09-30 0001706431 us-gaap:WarrantMember 2018-01-01 2018-09-30 0001706431 us-gaap:PensionPlansDefinedBenefitMember vir:HumabsBiomedSAMember 2019-07-01 2019-09-30 0001706431 us-gaap:PensionPlansDefinedBenefitMember vir:HumabsBiomedSAMember 2018-07-01 2018-09-30 0001706431 us-gaap:PensionPlansDefinedBenefitMember vir:HumabsBiomedSAMember 2019-01-01 2019-09-30 0001706431 us-gaap:PensionPlansDefinedBenefitMember vir:HumabsBiomedSAMember 2018-01-01 2018-09-30 0001706431 vir:StateraHealthLimitedLiabilityCompanyMember us-gaap:DevelopedTechnologyRightsMember 2018-01-01 2018-09-30

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 10-Q

 

(Mark One)

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

For the quarterly period ended September 30, 2019

OR

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: 001-39083

 

Vir Biotechnology, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

 

Delaware

81-2730369

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification No.)

499 Illinois Street, Suite 500, San Francisco, California

94158

(Address of principal executive offices)

(Zip Code)

 

Registrant’s telephone number, including area code: (415) 906-4324

 

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

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common stock, par value $0.0001 per share

 

VIR

 

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 13(a) of the Exchange Act. 

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

As of November 15, 2019, the registrant had 109,678,822 shares of common stock, $0.0001 par value per share, outstanding.

 

 

 


Table of Contents

 

 

 

Page

PART I.

FINANCIAL INFORMATION

 

Item 1.

Financial Statements (unaudited)

3

 

Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018 (unaudited)

3

 

Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2019 and 2018 (unaudited)

4

 

Condensed Consolidated Statements of Comprehensive Loss for the Three and Nine Months Ended September 30, 2019 and 2018 (unaudited)

5

 

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Deficit for the Three and Nine Months Ended September 30, 2019 and 2018 (unaudited)

6

 

Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2019 and 2018 (unaudited)

8

 

Notes to Unaudited Condensed Consolidated Financial Statements

9

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

29

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

37

Item 4.

Controls and Procedures

37

PART II.

OTHER INFORMATION

 

Item 1.

Legal Proceedings

38

Item 1A.

Risk Factors

38

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

78

Item 3.

Defaults Upon Senior Securities

78

Item 4.

Mine Safety Disclosures

78

Item 5.

Other Information

78

Item 6.

Exhibits

79

Signatures

81

 


1


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

 

This Quarterly Report on Form 10-Q contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our strategy, future financial condition, future operations, research and development, planned clinical trials and preclinical studies, technology platforms, the timing and likelihood of regulatory filings and approvals for our product candidates, our ability to commercialize our product candidates, the potential benefits of collaborations, projected costs, prospects, plans, objectives of management and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology.

 

We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions described in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this report. Other sections of this report may include additional factors that could harm our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time, and it is not possible for our management to predict all risk factors 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, or implied by, any forward-looking statements.

 

In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. Although we believe that we have a reasonable basis for each forward-looking statement contained in this report, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur at all. You should refer to the section titled “Risk Factors” for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. Except as required by law, we undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

 

2


PART I—FINANCIAL INFORMATION

Item 1. Financial Statements.

VIR BIOTECHNOLOGY, INC.

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

(unaudited)

 

 

 

September 30, 2019

 

 

December 31, 2018

 

ASSETS

 

 

 

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

93,698

 

 

$

47,598

 

Short-term investments

 

 

226,512

 

 

 

50,845

 

Restricted cash and cash equivalents, current

 

 

8,822

 

 

 

10,761

 

Prepaid expenses and other current assets

 

 

8,688

 

 

 

8,579

 

Total current assets

 

 

337,720

 

 

 

117,783

 

Intangible assets, net

 

 

35,999

 

 

 

36,917

 

Goodwill

 

 

16,937

 

 

 

16,937

 

Property and equipment, net

 

 

15,448

 

 

 

12,290

 

Restricted cash and cash equivalents, noncurrent

 

 

2,850

 

 

 

1,003

 

Other assets

 

 

13,688

 

 

 

6,666

 

TOTAL ASSETS

 

$

422,642

 

 

$

191,596

 

LIABILITIES, CONVERTIBLE PREFERRED STOCK AND

   STOCKHOLDERS’ DEFICIT

 

 

 

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

 

 

 

Accounts payable

 

$

5,815

 

 

$

6,473

 

Accrued liabilities

 

 

22,953

 

 

 

14,534

 

Deferred revenue, current portion

 

 

8,822

 

 

 

8,761

 

Advanced proceeds from preferred stock financing

 

 

 

 

 

10,140

 

Contingent consideration, current portion

 

 

6,726

 

 

 

 

Total current liabilities

 

 

44,316

 

 

 

39,908

 

Deferred revenue, noncurrent

 

 

8,408

 

 

 

6,561

 

Convertible preferred stock warrant liability

 

 

4,425

 

 

 

1,024

 

Contingent consideration, noncurrent

 

 

3,343

 

 

 

9,250

 

Deferred tax liability

 

 

3,305

 

 

 

3,305

 

Other long-term liabilities

 

 

3,030

 

 

 

1,588

 

TOTAL LIABILITIES

 

 

66,827

 

 

 

61,636

 

Commitments and contingencies (Note 7)

 

 

 

 

 

 

 

 

Convertible preferred stock, $0.0001 par value; 421,450,000 shares authorized; 88,112,733 and

   69,910,520 shares issued and outstanding as of September 30, 2019 and

   December 31, 2018, respectively; aggregate liquidation preference of

   $675,567 and $333,058 as of September 30, 2019 and

   December 31, 2018, respectively

 

 

636,612

 

 

 

309,137

 

STOCKHOLDERS’ DEFICIT:

 

 

 

 

 

 

 

 

Common stock, $0.0001 par value; 558,350,000 shares authorized as of

   September 30, 2019 and December 31, 2018; 11,728,232 and

   8,858,799 shares issued and outstanding as of September 30, 2019

   and December 31, 2018, respectively

 

 

1

 

 

 

1

 

Additional paid-in capital

 

 

23,869

 

 

 

14,672

 

Accumulated other comprehensive income (loss)

 

 

81

 

 

 

(14

)

Accumulated deficit

 

 

(304,748

)

 

 

(193,836

)

TOTAL STOCKHOLDERS’ DEFICIT

 

 

(280,797

)

 

 

(179,177

)

TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND

   STOCKHOLDERS’ DEFICIT

 

$

422,642

 

 

$

191,596

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

3


VIR BIOTECHNOLOGY, INC.

Condensed Consolidated Statements of Operations

(in thousands, except share and per share data)

(unaudited)

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Grant revenue

 

$

1,166

 

 

$

2,771

 

 

$

6,771

 

 

$

6,680

 

Contract revenue

 

 

237

 

 

 

114

 

 

 

340

 

 

 

862

 

Total revenue

 

 

1,403

 

 

 

2,885

 

 

 

7,111

 

 

 

7,542

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

39,863

 

 

 

29,837

 

 

 

95,541

 

 

 

78,256

 

General and administrative

 

 

9,220

 

 

 

7,394

 

 

 

25,790

 

 

 

21,182

 

Total operating expenses

 

 

49,083

 

 

 

37,231

 

 

 

121,331

 

 

 

99,438

 

Loss from operations

 

 

(47,680

)

 

 

(34,346

)

 

 

(114,220

)

 

 

(91,896

)

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

2,012

 

 

 

712

 

 

 

6,564

 

 

 

1,919

 

Other income (expense), net

 

 

(2,659

)

 

 

178

 

 

 

(3,251

)

 

 

(14

)

Total other income (expense), net

 

 

(647

)

 

 

890

 

 

 

3,313

 

 

 

1,905

 

Loss before benefit from (provision for) income taxes

 

 

(48,327

)

 

 

(33,456

)

 

 

(110,907

)

 

 

(89,991

)

Benefit from (provision for) income taxes

 

 

13

 

 

 

 

 

 

(5

)

 

 

500

 

Net loss

 

$

(48,314

)

 

$

(33,456

)

 

$

(110,912

)

 

$

(89,491

)

Net loss per share, basic and diluted

 

$

(4.60

)

 

$

(4.16

)

 

$

(11.53

)

 

$

(12.20

)

Weighted-average shares outstanding, basic and diluted

 

 

10,500,848

 

 

 

8,043,283

 

 

 

9,615,379

 

 

 

7,333,986

 

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

4


VIR BIOTECHNOLOGY, INC.

Condensed Consolidated Statements of Comprehensive Loss

(in thousands)

(unaudited)

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net loss

 

$

(48,314

)

 

$

(33,456

)

 

$

(110,912

)

 

$

(89,491

)

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized gains (losses) on investments, net of tax

 

 

(159

)

 

 

(25

)

 

95

 

 

 

(41

)

Other comprehensive income (loss)

 

 

(159

)

 

 

(25

)

 

95

 

 

 

(41

)

Comprehensive loss

 

$

(48,473

)

 

$

(33,481

)

 

$

(110,817

)

 

$

(89,532

)

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 

5


VIR BIOTECHNOLOGY, INC.

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Deficit

(in thousands, except share amounts)

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

Other

 

 

 

 

 

 

Total

 

 

 

Convertible Preferred Stock

 

 

 

Common Stock

 

 

Paid-in

 

 

Comprehensive

 

 

Accumulated

 

 

Stockholders'

 

 

 

Share

 

 

Amount

 

 

 

 

Share

 

 

Amount

 

 

Capital

 

 

Income (Loss)

 

 

Deficit

 

 

Deficit

 

Balance at June 30, 2019

 

 

88,112,733

 

 

$

636,612

 

 

 

 

 

9,722,838

 

 

$

1

 

 

$

19,226

 

 

$

240

 

 

$

(256,434

)

 

$

(236,967

)

Issuance of common stock in connection with a

   license agreement

 

 

 

 

 

 

 

 

 

 

38,888

 

 

 

 

 

 

617

 

 

 

 

 

 

 

 

 

617

 

Repayment of promissory notes, net of unvested

   common stock

 

 

 

 

 

 

 

 

 

 

1,390,925

 

 

 

 

 

 

1,355

 

 

 

 

 

 

 

 

 

1,355

 

Vesting of restricted common stock

 

 

 

 

 

 

 

 

 

 

337,075

 

 

 

 

 

 

119

 

 

 

 

 

 

 

 

 

119

 

Exercise of stock options

 

 

 

 

 

 

 

 

 

 

238,506

 

 

 

 

 

 

364

 

 

 

 

 

 

 

 

 

364

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,188

 

 

 

 

 

 

 

 

 

2,188

 

Other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(159

)

 

 

 

 

 

(159

)

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(48,314

)

 

 

(48,314

)

Balance at September 30, 2019

 

 

88,112,733

 

 

$

636,612

 

 

 

 

 

11,728,232

 

 

$

1

 

 

$

23,869

 

 

$

81

 

 

$

(304,748

)

 

$

(280,797

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

Other

 

 

 

 

 

 

Total

 

 

 

Convertible Preferred Stock

 

 

 

Common Stock

 

 

Paid-in

 

 

Comprehensive

 

 

Accumulated

 

 

Stockholders'

 

 

 

Share

 

 

Amount

 

 

 

 

Share

 

 

Amount

 

 

Capital

 

 

Loss

 

 

Deficit

 

 

Deficit

 

Balance at June 30, 2018

 

 

69,466,076

 

 

$

307,186

 

 

 

 

 

7,515,382

 

 

$

1

 

 

$

11,701

 

 

$

(16

)

 

$

(133,987

)

 

$

(122,301

)

Issuance of Series A-1 convertible preferred

   stock, net of issuance cost of $50

 

 

444,444

 

 

 

1,951

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vesting of restricted common stock

 

 

 

 

 

 

 

 

 

 

615,261

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercise of stock options

 

 

 

 

 

 

 

 

 

 

209,621

 

 

 

 

 

 

311

 

 

 

 

 

 

 

 

 

311

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,449

 

 

 

 

 

 

 

 

 

1,449

 

Other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(25

)

 

 

 

 

 

(25

)

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(33,456

)

 

 

(33,456

)

Balance at September 30, 2018

 

 

69,910,520

 

 

$

309,137

 

 

 

 

 

8,340,264

 

 

$

1

 

 

$

13,461

 

 

$

(41

)

 

$

(167,443

)

 

$

(154,022

)

 

The accompanying notes are an integral part of these condensed consolidated financial statements.

6


VIR BIOTECHNOLOGY, INC.

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Deficit

(in thousands, except share amounts)

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

Other

 

 

 

 

 

 

Total

 

 

 

Convertible Preferred Stock

 

 

 

Common Stock

 

 

Paid-in

 

 

Comprehensive

 

 

Accumulated

 

 

Stockholders'

 

 

 

Share

 

 

Amount

 

 

 

Share

 

 

Amount

 

 

Capital

 

 

Income (Loss)

 

 

Deficit

 

 

Deficit

 

Balance at December 31, 2018

 

 

69,910,520

 

 

$

309,137

 

 

 

 

8,858,799

 

 

$

1

 

 

$

14,672

 

 

$

(14

)

 

$

(193,836

)

 

$

(179,177

)

Issuance of Series B convertible preferred stock,

   net of issuance cost of $165

 

 

18,202,213

 

 

 

327,475

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of common stock in connection with a

   license agreement

 

 

 

 

 

 

 

 

 

38,888

&