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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Yield10 Bioscience Inc | NASDAQ:YTEN | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.017 | -7.11% | 0.222 | 0.222 | 0.2286 | 0.249 | 0.216 | 0.249 | 331,776 | 00:58:02 |
|
Delaware
|
|
04-3158289
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
19 Presidential Way
Woburn, MA
|
|
01801
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock
|
YTEN
|
The Nasdaq Capital Market
|
Large accelerated filer
|
o
|
Accelerated filer
|
o
|
Non-accelerated filer
|
ý
|
Smaller reporting company
|
ý
|
Emerging growth company
|
o
|
|
|
|
|
|
Page
|
|
|
|
Item
|
|
|
|
||
|
||
|
||
|
||
|
||
|
||
|
|
|
|
|
|
Item
|
|
|
|
|
|
|
September 30,
2020 |
|
December 31,
2019 |
||||
Assets
|
|
|
|
||||
Current Assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
2,995
|
|
|
$
|
5,417
|
|
Short-term investments
|
8,794
|
|
|
5,700
|
|
||
Accounts receivable
|
148
|
|
|
72
|
|
||
Unbilled receivables
|
56
|
|
|
20
|
|
||
Prepaid expenses and other current assets
|
368
|
|
|
475
|
|
||
Total current assets
|
12,361
|
|
|
11,684
|
|
||
Restricted cash
|
254
|
|
|
332
|
|
||
Property and equipment, net
|
935
|
|
|
1,243
|
|
||
Right-of-use assets
|
2,796
|
|
|
3,141
|
|
||
Other assets
|
300
|
|
|
318
|
|
||
Total assets
|
$
|
16,646
|
|
|
$
|
16,718
|
|
|
|
|
|
||||
Liabilities, Convertible Preferred Stock and Stockholders’ Equity (Deficit)
|
|
|
|
||||
Current Liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
103
|
|
|
$
|
279
|
|
Accrued expenses
|
930
|
|
|
1,326
|
|
||
Lease liabilities
|
443
|
|
|
602
|
|
||
Total current liabilities
|
1,476
|
|
|
2,207
|
|
||
Lease liabilities, net of current portion
|
3,283
|
|
|
3,619
|
|
||
Warrant liability
|
—
|
|
|
14,977
|
|
||
Other long-term liabilities
|
15
|
|
|
—
|
|
||
Total liabilities
|
4,774
|
|
|
20,803
|
|
||
Commitments and contingencies (Note 10)
|
|
|
|
||||
Series B Convertible Preferred Stock ($0.01 par value per share); 0 and 5,750 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively
|
—
|
|
|
—
|
|
||
Stockholders’ Equity (Deficit):
|
|
|
|
||||
Series A Convertible Preferred Stock ($0.01 par value per share); 0 shares and 796 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively
|
—
|
|
|
—
|
|
||
Common stock ($0.01 par value per share); 60,000,000 shares authorized at September 30, 2020 and December 31, 2019; 3,330,778 and 933,423 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively
|
33
|
|
|
9
|
|
||
Additional paid-in capital
|
384,465
|
|
|
360,926
|
|
||
Accumulated other comprehensive loss
|
(168
|
)
|
|
(126
|
)
|
||
Accumulated deficit
|
(372,458
|
)
|
|
(364,894
|
)
|
||
Total stockholders’ equity (deficit)
|
11,872
|
|
|
(4,085
|
)
|
||
Total liabilities, convertible preferred stock and stockholders’ equity (deficit)
|
$
|
16,646
|
|
|
$
|
16,718
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30,
|
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
Revenue:
|
|
|
|
|
|
|
|
||||||||
Grant revenue
|
$
|
204
|
|
|
$
|
224
|
|
|
$
|
604
|
|
|
$
|
666
|
|
Total revenue
|
204
|
|
|
224
|
|
|
604
|
|
|
666
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Expenses:
|
|
|
|
|
|
|
|
||||||||
Research and development
|
1,300
|
|
|
1,232
|
|
|
3,939
|
|
|
3,646
|
|
||||
General and administrative
|
1,098
|
|
|
990
|
|
|
3,664
|
|
|
3,201
|
|
||||
Total expenses
|
2,398
|
|
|
2,222
|
|
|
7,603
|
|
|
6,847
|
|
||||
Loss from operations
|
(2,194
|
)
|
|
(1,998
|
)
|
|
(6,999
|
)
|
|
(6,181
|
)
|
||||
|
|
|
|
|
|
|
|
||||||||
Other income (expense):
|
|
|
|
|
|
|
|
||||||||
Change in fair value of warrants
|
—
|
|
|
—
|
|
|
(957
|
)
|
|
—
|
|
||||
Loan forgiveness income (Note 9)
|
—
|
|
|
—
|
|
|
333
|
|
|
—
|
|
||||
Other income (expense), net
|
37
|
|
|
16
|
|
|
85
|
|
|
68
|
|
||||
Total other income (expense)
|
37
|
|
|
16
|
|
|
(539
|
)
|
|
68
|
|
||||
Net loss before income tax expense
|
(2,157
|
)
|
|
(1,982
|
)
|
|
(7,538
|
)
|
|
(6,113
|
)
|
||||
Income tax expense
|
(11
|
)
|
|
—
|
|
|
(26
|
)
|
|
—
|
|
||||
Net loss
|
$
|
(2,168
|
)
|
|
$
|
(1,982
|
)
|
|
$
|
(7,564
|
)
|
|
$
|
(6,113
|
)
|
|
|
|
|
|
|
|
|
||||||||
Basic and diluted net loss per share
|
$
|
(0.87
|
)
|
|
$
|
(6.33
|
)
|
|
$
|
(3.69
|
)
|
|
$
|
(20.64
|
)
|
|
|
|
|
|
|
|
|
||||||||
Number of shares used in per share calculations:
|
|
|
|
|
|
|
|
||||||||
Basic and diluted
|
2,492,274
|
|
|
312,952
|
|
|
2,050,726
|
|
|
296,139
|
|
|
Three Months Ended
September 30, |
Nine Months Ended
September 30, |
||||||||||||
|
2020
|
|
2019
|
2020
|
|
2019
|
||||||||
Net loss:
|
$
|
(2,168
|
)
|
|
$
|
(1,982
|
)
|
$
|
(7,564
|
)
|
|
$
|
(6,113
|
)
|
Other comprehensive loss
|
|
|
|
|
|
|
||||||||
Change in unrealized gain (loss) on investments
|
(6
|
)
|
|
—
|
|
1
|
|
|
—
|
|
||||
Change in foreign currency translation adjustment
|
5
|
|
|
(6
|
)
|
(43
|
)
|
|
(14
|
)
|
||||
Total other comprehensive loss
|
(1
|
)
|
|
(6
|
)
|
(42
|
)
|
|
(14
|
)
|
||||
Comprehensive loss
|
$
|
(2,169
|
)
|
|
$
|
(1,988
|
)
|
$
|
(7,606
|
)
|
|
$
|
(6,127
|
)
|
|
Nine Months Ended
September 30, |
||||||
|
2020
|
|
2019
|
||||
Cash flows from operating activities
|
|
|
|
||||
Net loss
|
$
|
(7,564
|
)
|
|
$
|
(6,113
|
)
|
Adjustments to reconcile net loss to cash used in operating activities:
|
|
|
|
||||
Depreciation
|
137
|
|
|
150
|
|
||
Change in fair value of warrants
|
957
|
|
|
—
|
|
||
Loss on disposal of fixed assets
|
206
|
|
|
—
|
|
||
Charge for 401(k) company common stock match
|
95
|
|
|
73
|
|
||
Stock-based compensation
|
506
|
|
|
406
|
|
||
Non-cash lease expense
|
345
|
|
|
456
|
|
||
Deferred income tax provision
|
33
|
|
|
—
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
(76
|
)
|
|
23
|
|
||
Unbilled receivables
|
(36
|
)
|
|
(17
|
)
|
||
Prepaid expenses and other assets
|
92
|
|
|
217
|
|
||
Accounts payable
|
(228
|
)
|
|
(66
|
)
|
||
Accrued expenses
|
(324
|
)
|
|
48
|
|
||
Lease liabilities
|
(495
|
)
|
|
(622
|
)
|
||
Other liabilities
|
15
|
|
|
—
|
|
||
Net cash used for operating activities
|
(6,337
|
)
|
|
(5,445
|
)
|
||
|
|
|
|
||||
Cash flows from investing activities
|
|
|
|
||||
Purchase of property and equipment
|
(42
|
)
|
|
(12
|
)
|
||
Proceeds from sale of property and equipment
|
10
|
|
|
—
|
|
||
Purchase of short-term investments
|
(6,290
|
)
|
|
(1,000
|
)
|
||
Proceeds from the sale and maturity of short-term investments
|
3,197
|
|
|
3,746
|
|
||
Net cash (used for) provided by investing activities
|
(3,125
|
)
|
|
2,734
|
|
||
|
|
|
|
||||
Cash flows from financing activities
|
|
|
|
||||
Proceeds from warrants exercised (Note 12)
|
1,658
|
|
|
—
|
|
||
Proceeds from public and private offerings, net of issuance costs
|
5,367
|
|
|
2,583
|
|
||
Taxes paid on employees' behalf related to vesting of stock awards
|
(17
|
)
|
|
(4
|
)
|
||
Net cash provided by financing activities
|
7,008
|
|
|
2,579
|
|
||
|
|
|
|
||||
Effect of exchange rate changes on cash, cash equivalents and restricted cash
|
(46
|
)
|
|
(14
|
)
|
||
|
|
|
|
||||
Net decrease in cash, cash equivalents and restricted cash
|
(2,500
|
)
|
|
(146
|
)
|
||
Cash, cash equivalents and restricted cash at beginning of period
|
5,749
|
|
|
3,355
|
|
||
Cash, cash equivalents and restricted cash at end of period
|
$
|
3,249
|
|
|
$
|
3,209
|
|
|
|
|
|
||||
Supplemental disclosure of non-cash information:
|
|
|
|
||||
Offering costs remaining in accrued expenses
|
$
|
63
|
|
|
$
|
41
|
|
|
Three Months Ended September 30, 2020
|
||||||||||||||||||||||||||||||||||
|
Series B Convertible Preferred Stock
|
Series A Convertible Preferred Stock
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Shares
|
|
Par Value
|
Shares
|
|
Par Value
|
|
Shares
|
|
Par Value
|
|
Additional Paid-In Capital
|
|
Accumulated Other Comprehensive Income (Loss)
|
|
Accumulated Deficit
|
|
Total Stockholders' Equity
|
|||||||||||||||||
Balance, June 30, 2020
|
—
|
|
|
$
|
—
|
|
—
|
|
|
$
|
—
|
|
|
1,972,798
|
|
|
$
|
20
|
|
|
$
|
378,924
|
|
|
$
|
(167
|
)
|
|
$
|
(370,290
|
)
|
|
$
|
8,487
|
|
Non-cash stock-based compensation expense
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
243
|
|
|
—
|
|
|
—
|
|
|
243
|
|
|||||||
Issuance of common stock for 401(k) match
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
3,689
|
|
|
—
|
|
|
23
|
|
|
—
|
|
|
—
|
|
|
23
|
|
|||||||
Issuance of common stock for restricted stock units
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
6,006
|
|
|
—
|
|
|
(17
|
)
|
|
—
|
|
|
—
|
|
|
(17
|
)
|
|||||||
Issuance of common stock for concurrent private and public offerings, net of offering costs of $425
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
1,348,285
|
|
|
13
|
|
|
5,292
|
|
|
—
|
|
|
—
|
|
|
5,305
|
|
|||||||
Effect of foreign currency translation and unrealized loss on investments
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
|||||||
Net loss
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,168
|
)
|
|
(2,168
|
)
|
|||||||
Balance, September 30, 2020
|
—
|
|
|
$
|
—
|
|
—
|
|
|
$
|
—
|
|
|
3,330,778
|
|
|
$
|
33
|
|
|
$
|
384,465
|
|
|
$
|
(168
|
)
|
|
$
|
(372,458
|
)
|
|
$
|
11,872
|
|
|
Three Months Ended September 30, 2019
|
||||||||||||||||||||||||||||||||||
|
Series B Convertible Preferred Stock
|
Series A Convertible Preferred Stock
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Shares
|
|
Par Value
|
Shares
|
|
Par Value
|
|
Shares
|
|
Par Value
|
|
Additional Paid-In Capital
|
|
Accumulated other Comprehensive Loss
|
|
Accumulated Deficit
|
|
Total Stockholders' Equity
|
|||||||||||||||||
Balance, June 30, 2019
|
—
|
|
|
$
|
—
|
|
—
|
|
|
$
|
—
|
|
|
312,352
|
|
|
$
|
3
|
|
|
$
|
360,638
|
|
|
$
|
(118
|
)
|
|
$
|
(356,069
|
)
|
|
$
|
4,454
|
|
Non-cash stock-based compensation expense
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
131
|
|
|
—
|
|
|
—
|
|
|
131
|
|
|||||||
Issuance of common stock for 401(k) match
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
607
|
|
|
—
|
|
|
23
|
|
|
—
|
|
|
—
|
|
|
23
|
|
|||||||
Effect of foreign currency translation and unrealized loss on investments
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6
|
)
|
|
—
|
|
|
(6
|
)
|
|||||||
Net loss
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(1,982
|
)
|
|
(1,982
|
)
|
|||||||
Balance, September 30, 2019
|
—
|
|
|
$
|
—
|
|
—
|
|
|
$
|
—
|
|
|
312,959
|
|
|
$
|
3
|
|
|
$
|
360,792
|
|
|
$
|
(124
|
)
|
|
$
|
(358,051
|
)
|
|
$
|
2,620
|
|
|
Nine Months Ended September 30, 2020
|
||||||||||||||||||||||||||||||||||
|
Series B Convertible Preferred Stock
|
Series A Convertible Preferred Stock
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Shares
|
|
Par Value
|
Shares
|
|
Par Value
|
|
Shares
|
|
Par Value
|
|
Additional Paid-In Capital
|
|
Accumulated Other Comprehensive Income (Loss)
|
|
Accumulated Deficit
|
|
Total Stockholders' (Deficit) Equity
|
|||||||||||||||||
Balance, December 31, 2019
|
5,750
|
|
|
$
|
—
|
|
796
|
|
|
$
|
—
|
|
|
933,423
|
|
|
$
|
9
|
|
|
$
|
360,926
|
|
|
$
|
(126
|
)
|
|
$
|
(364,894
|
)
|
|
$
|
(4,085
|
)
|
Non-cash stock-based compensation expense
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
597
|
|
|
—
|
|
|
—
|
|
|
597
|
|
|||||||
Issuance of common stock for 401(k) match
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
17,518
|
|
|
—
|
|
|
86
|
|
|
—
|
|
|
—
|
|
|
86
|
|
|||||||
Issuance of common stock for warrant exercise
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
207,296
|
|
|
2
|
|
|
1,656
|
|
|
—
|
|
|
—
|
|
|
1,658
|
|
|||||||
Issuance of common stock upon conversion of Series A Convertible Preferred Stock
|
—
|
|
|
—
|
|
(796
|
)
|
|
—
|
|
|
99,500
|
|
|
2
|
|
|
(2
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Issuance of common stock upon conversion of Series B Convertible Preferred Stock
|
(5,750
|
)
|
|
—
|
|
—
|
|
|
—
|
|
|
718,750
|
|
|
7
|
|
|
(7
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||||
Reclassification of warrant liability to equity
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
15,934
|
|
|
—
|
|
|
—
|
|
|
15,934
|
|
|||||||
Issuance of common stock upon vesting of restricted stock units
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
6,006
|
|
|
—
|
|
|
(17
|
)
|
|
—
|
|
|
—
|
|
|
(17
|
)
|
|||||||
Issuance of common stock for private and public offering, net of offering costs of $425
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
1,348,285
|
|
|
13
|
|
|
5,292
|
|
|
—
|
|
|
—
|
|
|
5,305
|
|
|||||||
Effect of foreign currency translation and unrealized loss on investments
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(42
|
)
|
|
—
|
|
|
(42
|
)
|
|||||||
Net loss
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(7,564
|
)
|
|
(7,564
|
)
|
|||||||
Balance, September 30, 2020
|
—
|
|
|
$
|
—
|
|
—
|
|
|
$
|
—
|
|
|
3,330,778
|
|
|
$
|
33
|
|
|
$
|
384,465
|
|
|
$
|
(168
|
)
|
|
$
|
(372,458
|
)
|
|
$
|
11,872
|
|
|
Nine Months Ended September 30, 2019
|
||||||||||||||||||||||||||||||||||
|
Series B Convertible Preferred Stock
|
Series A Convertible Preferred Stock
|
|
Common Stock
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||
|
Shares
|
|
Par Value
|
Shares
|
|
Par Value
|
|
Shares
|
|
Par Value
|
|
Additional Paid-In Capital
|
|
Accumulated other Comprehensive Loss
|
|
Accumulated Deficit
|
|
Total Stockholders' Equity
|
|||||||||||||||||
Balance, December 31, 2018
|
—
|
|
|
$
|
—
|
|
—
|
|
|
$
|
—
|
|
|
250,631
|
|
|
$
|
3
|
|
|
$
|
357,743
|
|
|
$
|
(110
|
)
|
|
$
|
(351,938
|
)
|
|
$
|
5,698
|
|
Non-cash stock-based compensation expense
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
406
|
|
|
—
|
|
|
—
|
|
|
406
|
|
|||||||
Issuance of common stock for 401(k) match
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
1,671
|
|
|
—
|
|
|
64
|
|
|
—
|
|
|
—
|
|
|
64
|
|
|||||||
Issuance of stock for restricted stock unit vesting, net of 2,449 shares withheld for employee taxes
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
116
|
|
|
—
|
|
|
(4
|
)
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
|||||||
Issuance of common stock for registered direct offering, net of $349 offering costs
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
60,541
|
|
|
—
|
|
|
2,583
|
|
|
—
|
|
|
—
|
|
|
2,583
|
|
|||||||
Effect of foreign currency translation and unrealized loss on investments
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(14
|
)
|
|
—
|
|
|
(14
|
)
|
|||||||
Net loss
|
—
|
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6,113
|
)
|
|
(6,113
|
)
|
|||||||
Balance, September 30, 2019
|
—
|
|
|
$
|
—
|
|
—
|
|
|
$
|
—
|
|
|
312,959
|
|
|
$
|
3
|
|
|
$
|
360,792
|
|
|
$
|
(124
|
)
|
|
$
|
(358,051
|
)
|
|
$
|
2,620
|
|
|
September 30,
2020 |
|
December 31,
2019 |
||||
Cash and cash equivalents
|
$
|
2,995
|
|
|
$
|
5,417
|
|
Restricted cash
|
254
|
|
|
332
|
|
||
Total cash, cash equivalents and restricted cash
|
$
|
3,249
|
|
|
$
|
5,749
|
|
Asset Description
|
|
Estimated Useful Life (years)
|
Equipment
|
|
3
|
Furniture and fixtures
|
|
5
|
Software
|
|
3
|
Leasehold improvements
|
|
Shorter of useful life or term of lease
|
•
|
Clarifies that certain transactions between collaborative arrangement participants should be accounted for as revenue under ASC 606, Revenue from Contracts with Customers, when the collaborative arrangement participant is a customer in the context of a unit of account. In those situations, the guidance in ASC 606 should be applied, including recognition, measurement, presentation and disclosure requirements;
|
•
|
Adds unit-of-account guidance to ASC 808, Collaborative Arrangements, to align with the guidance in ASC 606 (that is, a distinct good or service) when an entity is assessing whether the collaborative arrangement or a part of the arrangement is within the scope of ASC 606; and
|
•
|
Precludes a company from presenting transactions with collaborative arrangement participants that are not directly related to sales to third parties with revenue recognized under ASC 606 if the collaborative arrangement participant is not a customer.
|
|
Three Months Ended
September 30, |
Nine Months Ended
September 30, |
||||||||
|
2020
|
|
2019
|
2020
|
|
2019
|
||||
Options
|
317,706
|
|
|
61,310
|
|
183,346
|
|
|
51,386
|
|
Restricted Stock Awards
|
12,288
|
|
|
—
|
|
12,874
|
|
|
56
|
|
Series A Convertible Preferred Stock
|
—
|
|
|
—
|
|
17,013
|
|
|
—
|
|
Series B Convertible Preferred Stock
|
—
|
|
|
—
|
|
41,971
|
|
|
—
|
|
Warrants
|
2,843,699
|
|
|
175,995
|
|
2,843,699
|
|
|
175,995
|
|
Total
|
3,173,693
|
|
|
237,305
|
|
3,098,903
|
|
|
227,437
|
|
|
Accumulated Cost at September 30, 2020
|
|
Unrealized
|
|
Market Value at September 30, 2020
|
||||||||||
|
|
Gain
|
|
(Loss)
|
|
||||||||||
Short-term investments
|
|
|
|
|
|
|
|
||||||||
Government securities
|
$
|
8,793
|
|
|
$
|
1
|
|
|
$
|
—
|
|
|
$
|
8,794
|
|
Total
|
$
|
8,793
|
|
|
$
|
1
|
|
|
$
|
—
|
|
|
$
|
8,794
|
|
|
Accumulated Cost at December 31, 2019
|
|
Unrealized
|
|
Market Value at December 31, 2019
|
||||||||||
|
|
Gain
|
|
(Loss)
|
|
||||||||||
Short-term investments
|
|
|
|
|
|
|
|
||||||||
Government securities
|
$
|
5,700
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5,700
|
|
Total
|
$
|
5,700
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
5,700
|
|
At December 31, 2019
|
Series A Warrants
|
|
Series B Warrants
|
Fair market value of common stock (per share)
|
$6.86
|
|
$6.86
|
Expected term (years)
|
2.3
|
|
7.3
|
Risk free rate
|
1.62%
|
|
1.83%
|
Volatility
|
127%
|
|
115%
|
At January 15, 2020
|
Series A Warrants
|
|
Series B Warrants
|
Fair market value of common stock (per share)
|
$3.77
|
|
$3.77
|
Expected term (years)
|
2.3
|
|
7.3
|
Risk free rate
|
1.62%
|
|
1.83%
|
Volatility
|
127%
|
|
115%
|
|
Fair value measurements at reporting date using
|
|
|
||||||||||||
|
Quoted prices in active markets for identical
assets
|
|
Significant other
observable inputs
|
|
Significant
unobservable inputs
|
|
Balance as of
|
||||||||
Description
|
(Level 1)
|
|
(Level 2)
|
|
(Level 3)
|
|
September 30, 2020
|
||||||||
Assets
|
|
|
|
|
|
|
|
||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
$
|
2,350
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,350
|
|
Short-term investments:
|
|
|
|
|
|
|
|
||||||||
U.S. government and agency securities
|
—
|
|
|
8,794
|
|
|
—
|
|
|
8,794
|
|
||||
Total assets
|
$
|
2,350
|
|
|
$
|
8,794
|
|
|
$
|
—
|
|
|
$
|
11,144
|
|
|
Fair value measurements at reporting date using
|
|
|
||||||||||||
|
Quoted prices in active markets for identical
assets
|
|
Significant other
observable inputs
|
|
Significant
unobservable inputs
|
|
Balance as of
|
||||||||
Description
|
(Level 1)
|
|
(Level 2)
|
|
(Level 3)
|
|
December 31, 2019
|
||||||||
Assets
|
|
|
|
|
|
|
|
||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
||||||||
Money market funds
|
$
|
2,622
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,622
|
|
U.S. government and agency securities
|
—
|
|
|
1,750
|
|
|
—
|
|
|
1,750
|
|
||||
Short-term investments:
|
|
|
|
|
|
|
|
||||||||
U.S. government and agency securities
|
—
|
|
|
5,700
|
|
|
—
|
|
|
5,700
|
|
||||
Total assets
|
$
|
2,622
|
|
|
$
|
7,450
|
|
|
$
|
—
|
|
|
$
|
10,072
|
|
|
|
|
|
|
|
|
|
||||||||
Liabilities
|
|
|
|
|
|
|
|
||||||||
Warrant liability
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
14,977
|
|
|
$
|
14,977
|
|
Total liabilities
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
14,977
|
|
|
$
|
14,977
|
|
|
September 30,
2020 |
|
December 31,
2019 |
||||
Employee compensation and benefits
|
$
|
483
|
|
|
$
|
669
|
|
Leased facilities
|
101
|
|
|
51
|
|
||
Professional services
|
153
|
|
|
327
|
|
||
Other
|
193
|
|
|
279
|
|
||
Total accrued expenses
|
$
|
930
|
|
|
$
|
1,326
|
|
|
Number of
Shares
|
|
Weighted Average
Exercise Price
|
|||
Outstanding at December 31, 2019
|
62,065
|
|
|
$
|
178.95
|
|
Granted
|
266,192
|
|
|
$
|
5.93
|
|
Exercised
|
—
|
|
|
$
|
—
|
|
Forfeited
|
(721
|
)
|
|
$
|
48.40
|
|
Expired
|
(655
|
)
|
|
$
|
2,587.46
|
|
Outstanding at September 30, 2020
|
326,881
|
|
|
$
|
33.52
|
|
|
|
|
|
|||
Vested and expected to vest at September 30, 2020
|
326,881
|
|
|
$
|
33.52
|
|
Options exercisable at September 30, 2020
|
66,176
|
|
|
$
|
127.65
|
|
|
Number of RSUs
|
Weighted Average Remaining Contractual Life (years)
|
|
Outstanding at December 31, 2019
|
—
|
|
|
Awarded
|
17,000
|
|
|
Common stock issued upon vesting
|
(8,500
|
)
|
|
Forfeited
|
—
|
|
|
Outstanding at September 30, 2020
|
8,500
|
|
0.37
|
Year ended December 31,
|
Undiscounted Cash Flows
|
||
2020 (October to December)
|
$
|
173
|
|
2021
|
704
|
|
|
2022
|
726
|
|
|
2023
|
749
|
|
|
2024
|
771
|
|
|
Thereafter
|
1,540
|
|
|
Total undiscounted future lease payments
|
4,663
|
|
|
Discount
|
(937
|
)
|
|
Total lease liabilities
|
$
|
3,726
|
|
Short-term lease liability
|
$
|
443
|
|
Long-term lease liability
|
$
|
3,283
|
|
|
Three Months Ended
September 30, |
|
Nine Months Ended
September 30, |
||||||||||||
|
2020
|
|
2019
|
|
2020
|
|
2019
|
||||||||
Lease cost:
|
|
|
|
|
|
|
|
||||||||
Operating lease cost
|
$
|
151
|
|
|
$
|
257
|
|
|
$
|
537
|
|
|
$
|
774
|
|
Short-term lease cost
|
167
|
|
|
139
|
|
|
473
|
|
|
393
|
|
||||
Sublease income
|
(140
|
)
|
|
(126
|
)
|
|
(419
|
)
|
|
(385
|
)
|
||||
Total lease cost, net
|
$
|
178
|
|
|
$
|
270
|
|
|
$
|
591
|
|
|
$
|
782
|
|
|
|
|
|
|
|
|
|
||||||||
Other information as of:
|
|
|
|
|
September 30, 2020
|
|
December 31, 2019
|
||||||||
Weighted-average remaining lease term (years)
|
|
|
|
|
6.2
|
|
6.7
|
||||||||
Weighted-average discount rate
|
|
|
|
|
7.25%
|
|
7.24%
|
|
U.S.
|
|
Canada
|
|
Eliminations
|
|
Total
|
||||||||
Three Months Ended September 30, 2020:
|
|
|
|
|
|
|
|
||||||||
Grant revenue from external customers
|
$
|
204
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
204
|
|
Inter-geographic revenues
|
—
|
|
|
625
|
|
|
(625
|
)
|
|
—
|
|
||||
Revenues
|
$
|
204
|
|
|
$
|
625
|
|
|
$
|
(625
|
)
|
|
$
|
204
|
|
|
|
|
|
|
|
|
|
||||||||
Three Months Ended September 30, 2019:
|
|
|
|
|
|
|
|
||||||||
Grant revenue from external customers
|
$
|
224
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
224
|
|
Inter-geographic revenues
|
—
|
|
|
477
|
|
|
(477
|
)
|
|
—
|
|
||||
Revenues
|
$
|
224
|
|
|
$
|
477
|
|
|
$
|
(477
|
)
|
|
$
|
224
|
|
|
|
|
|
|
|
|
|
||||||||
Nine Months Ended September 30, 2020:
|
|
|
|
|
|
|
|
||||||||
Net revenues from external customers
|
$
|
537
|
|
|
$
|
67
|
|
|
$
|
—
|
|
|
$
|
604
|
|
Inter-geographic revenues
|
—
|
|
|
1,403
|
|
|
(1,403
|
)
|
|
—
|
|
||||
Net revenues
|
$
|
537
|
|
|
$
|
1,470
|
|
|
$
|
(1,403
|
)
|
|
$
|
604
|
|
|
|
|
|
|
|
|
|
||||||||
Nine Months Ended September 30, 2019:
|
|
|
|
|
|
|
|
||||||||
Net revenues from external customers
|
$
|
666
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
666
|
|
Inter-geographic revenues
|
—
|
|
|
1,313
|
|
|
(1,313
|
)
|
|
—
|
|
||||
Net revenues
|
$
|
666
|
|
|
$
|
1,313
|
|
|
$
|
(1,313
|
)
|
|
$
|
666
|
|
|
U.S.
|
|
Canada
|
|
Eliminations
|
|
Total
|
||||||||
September 30, 2020
|
$
|
894
|
|
|
$
|
41
|
|
|
$
|
—
|
|
|
$
|
935
|
|
December 31, 2019
|
$
|
1,186
|
|
|
$
|
57
|
|
|
$
|
—
|
|
|
$
|
1,243
|
|
•
|
405,750 Class A Units priced at a public offering price of $8.00 per unit, with each unit consisting of one share of common stock, par value $0.01 per share, Series A Warrants to purchase one share of common stock at an exercise price of $8.00 per share, expiring two and one-half-years from the closing date of the offering, and Series B Warrants to purchase one share of common stock at an exercise price of $8.00 per share, expiring seven and one-half-years from the closing date of the offering. The 405,750 Class A Units sold include the full exercise of the underwriter's over-allotment option of 93,750 Class A Units.
|
•
|
2,504 Class B Units, priced at a public offering price of $1,000 per unit, with each unit consisting of one share of Series A Convertible Preferred Stock, par value $0.01 per share, convertible at any time at the holder's option into 125 shares of common stock, par value $0.01 per share, Series A Warrants to purchase 125 shares of common stock at an exercise price of $8.00 per share, expiring two and one-half-years from the closing date of the offering, and Series B Warrants to purchase 125 shares of common stock at an exercise price of $8.00 per share, expiring seven and one-half-years from the closing date of the offering. The Series A Convertible Preferred Stock was convertible into shares of common stock at any time using a conversion ratio of $8.00 per share. As of April 30, 2020, all of the shares of the Series A Convertible Preferred Stock had converted to 313,000 shares of the Company's common stock.
|
•
|
Gross proceeds from the sale of Class A Units and Class B Units totaled $5,750.
|
•
|
5,750 Units, priced at $1,000 per unit, each unit consisting of one share of the Company's Series B Convertible Preferred Stock, par value $0.01 per share, contingently convertible into 125 shares of common stock at an exercise price of $8.00, Series A Warrants to purchase 125 shares of common stock, par value $0.01 per share, at an exercise price of $8.00 per share, expiring two and one-half-years from the closing date of the offering, and Series B Warrants to purchase 125 shares of common stock at an exercise price of $8.00 per share, expiring seven and one-half-years from the closing date of the offering.
|
•
|
Gross proceeds from the private placement also totaled $5,750.
|
Issuance
|
|
Number of Shares Issuable Upon Exercise of Outstanding Warrants
|
|
Exercise Price Per Share of Common Stock
|
|
Expiration Date
|
|||
November 2019 Public Offering - Series A
|
|
580,727
|
|
|
$
|
8.00
|
|
|
May 19, 2022
|
November 2019 Public Offering - Series B
|
|
649,477
|
|
|
$
|
8.00
|
|
|
May 19, 2027
|
November 2019 Private Placement - Series A
|
|
718,750
|
|
|
$
|
8.00
|
|
|
May 19, 2022
|
November 2019 Private Placement - Series B
|
|
718,750
|
|
|
$
|
8.00
|
|
|
May 19, 2027
|
December 2017 Public Offering - Series A
|
|
160,975
|
|
|
$
|
90.00
|
|
|
December 21, 2022
|
July 2017 Registered Direct Offering
|
|
14,270
|
|
|
$
|
201.60
|
|
|
January 7, 2024
|
Consultant
|
|
750
|
|
|
$
|
116.00
|
|
|
September 11, 2024
|
Total
|
|
2,843,699
|
|
|
|
|
|
|
September 30,
2020 |
|
December 31,
2019 |
||
Stock Options
|
326,881
|
|
|
62,065
|
|
RSUs
|
8,500
|
|
|
—
|
|
Series A Convertible Preferred Stock - November 2019 Public Offering
|
—
|
|
|
99,500
|
|
Warrants
|
2,843,699
|
|
|
175,995
|
|
Total number of common shares reserved for future issuance
|
3,179,080
|
|
|
337,560
|
|
Program Title
|
|
Funding
Agency
|
|
Total Government Funded Appropriations
|
|
Total revenue recognized through September 30, 2020
|
|
Remaining amount to be recognized as of September 30, 2020
|
|
Contract/Grant
Expiration
|
|||||||
Subcontract from Michigan State University project funded by DOE entitled "A Systems Approach to Increasing Carbon Flux to Seed Oil"
|
|
Department of Energy
|
|
$
|
2,403
|
|
|
$
|
1,762
|
|
|
$
|
641
|
|
|
September 2021
|
|
Funding from National Research Council Canada through its Industrial Research Assistance Program (NRC-IRAP) entitled "Innovation Assistance Program"
|
|
National Research Council Canada
|
|
67
|
|
|
67
|
|
|
—
|
|
|
June 2020
|
||||
Total
|
|
|
|
$
|
2,470
|
|
|
$
|
1,829
|
|
|
$
|
641
|
|
|
|
|
Three Months Ended
September 30, |
|
|
||||||||
|
2020
|
|
2019
|
|
Change
|
||||||
Grant revenue
|
$
|
204
|
|
|
$
|
224
|
|
|
$
|
(20
|
)
|
|
Three Months Ended
September 30, |
|
|
||||||||
|
2020
|
|
2019
|
|
Change
|
||||||
Research and development expenses
|
$
|
1,300
|
|
|
$
|
1,232
|
|
|
$
|
68
|
|
General and administrative expenses
|
1,098
|
|
|
990
|
|
|
108
|
|
|||
Total expenses
|
$
|
2,398
|
|
|
$
|
2,222
|
|
|
$
|
176
|
|
|
Three Months Ended
September 30, |
|
|
||||||||
|
2020
|
|
2019
|
|
Change
|
||||||
Other income (expense), net
|
$
|
37
|
|
|
$
|
16
|
|
|
$
|
21
|
|
|
Nine Months Ended September 30,
|
|
|
||||||||
|
2020
|
|
2019
|
|
Change
|
||||||
Grant revenue
|
$
|
604
|
|
|
$
|
666
|
|
|
$
|
(62
|
)
|
|
Nine Months Ended September 30,
|
|
|
||||||||
|
2020
|
|
2019
|
|
Change
|
||||||
Research and development expenses
|
$
|
3,939
|
|
|
$
|
3,646
|
|
|
$
|
293
|
|
General and administrative expenses
|
3,664
|
|
|
3,201
|
|
|
463
|
|
|||
Total expenses
|
$
|
7,603
|
|
|
$
|
6,847
|
|
|
$
|
756
|
|
|
Nine Months Ended September 30,
|
|
|
||||||||
|
2020
|
|
2019
|
|
Change
|
||||||
Change in fair value of warrants
|
$
|
(957
|
)
|
|
$
|
—
|
|
|
$
|
(957
|
)
|
Loan forgiveness income
|
333
|
|
|
—
|
|
|
$
|
333
|
|
||
Other income (expense), net
|
85
|
|
|
68
|
|
|
17
|
|
|||
Total other income (expense), net
|
$
|
(539
|
)
|
|
$
|
68
|
|
|
$
|
(607
|
)
|
|
Specimen Stock Certificate for shares of the Registrant's Common Stock (filed herewith).
|
|
|
|
|
|
Securities Purchase Agreement, dated as of August 22, 2020, by and between Yield10 Bioscience, Inc. and the Investors listed on Schedule I thereto (incorporated herein by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on August 25, 2020 (File No. 001-33133)).
|
|
|
|
|
|
Certification Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 of the Principal Executive Officer (filed herewith).
|
|
|
|
|
|
Certification Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934 of the Principal Financial Officer (filed herewith).
|
|
|
|
|
|
Section 1350 Certification (furnished herewith).
|
|
|
|
|
101.1
|
|
The following financial information from the Yield10 Bioscience, Inc. Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 formatted in XBRL: (i) Condensed Consolidated Balance Sheets, September 30, 2020 and December 31, 2019; (ii) Condensed Consolidated Statements of Operations, Three and Nine Months Ended September 30, 2020 and 2019; (iii) Condensed Consolidated Statements of Comprehensive Loss, Three and Nine Months Ended September 30, 2020 and 2019; (iv) Condensed Consolidated Statements of Cash Flows, Nine Months Ended September 30, 2020 and 2019; (v) Condensed Consolidated Statements of Series B Convertible Preferred Stock and Stockholders' (Deficit) Equity, Three and Nine Months Ended September 30, 2020 and 2019; and (vi) Notes to Consolidated Financial Statements.
|
|
YIELD10 BIOSCIENCE, INC.
|
|
|
|
|
|
|
|
November 12, 2020
|
By:
|
/s/ OLIVER PEOPLES
|
|
|
Oliver Peoples
|
|
|
President and Chief Executive Officer
|
|
|
(Principal Executive Officer)
|
|
|
|
November 12, 2020
|
By:
|
/s/ CHARLES B. HAASER
|
|
|
Charles B. Haaser
|
|
|
Chief Accounting Officer
|
|
|
(Principal Financial and Accounting Officer)
|
1 Year Yield10 Bioscience Chart |
1 Month Yield10 Bioscience Chart |
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