Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
Our common stock has been publicly traded on the Nasdaq Global Select Market under the symbol “FIXX” since March 28, 2018. Prior to that time, there was no public market for our common stock.
Holders
As of March 1, 2021, there were approximately 17 holders of record of our common stock. This number does not include beneficial owners whose shares are held by nominees in street name.
Dividend Policy
We have never declared or paid any cash dividends on our capital stock. We intend to retain future earnings, if any, to finance the operation and expansion of our business and do not expect to pay any cash dividends in the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our board of directors after considering our financial condition, results of operations, capital requirements, business prospects and other factors the board of directors deems relevant, and subject to the restrictions contained in any future financing instruments.
Securities Authorized for Issuance under Equity Compensation Plans
Information about our equity compensation plans is incorporated herein by reference to Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters , of this Annual Report on Form 10-K.
Stock Performance Graph
This performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any of our filings under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act.
The graph set forth below compares the cumulative total stockholder return on our common stock between March 28, 2018 (the date our common stock commenced trading on the Nasdaq Global Select Market) and December 31, 2020, with the cumulative total return of (a) the Nasdaq Biotechnology Index and (b) the Nasdaq Composite Index, over the same period. This graph assumes an initial investment of $100 on March 28, 2018 in our common stock, the Nasdaq Biotechnology Index and the Nasdaq Composite Index and assumes the reinvestment of dividends, if any. The comparisons in the graph are not intended to forecast or be indicative of possible future performance of our common stock.
89
Recent Sales of Unregistered Securities; Purchases of Equity Securities by the Issuer or Affiliated Purchaser
We did not repurchase any of our equity securities during the quarter ended December 31, 2020. Other than as disclosed in our Current Report on Form 8-K filed with the SEC on November 9, 2020, we did not sell any equity securities during the year ended December 31, 2020 that were not registered under the Securities Act.
Use of Proceeds
Not applicable.
Item 6. Selected Financial Data.
The selected financial data presented below is derived from our audited consolidated financial statements. The selected financial data should be read in conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Item 7 of Part II to this Annual Report on Form 10-K. The selected financial data in this section are not intended to replace our consolidated financial statements and the related notes. Our historical results are not necessarily indicative of our future results.
For the Years Ended December 31,
(in thousands, except share and per share data)
2020
2019
2018
2017
2016
(as revised)
Consolidated Statements of Operations Data:
Collaboration revenue
$
2,702
$
1,666
$
5,322
$
—
$
—
Operating expenses:
Research and development
100,392
89,398
47,948
21,378
5,695
General and administrative
32,573
22,211
17,300
8,279
4,305
Total operating expenses
132,965
111,609
65,248
29,657
10,000
Loss from operations
(130,263
)
(109,943
)
(59,926
)
(29,657
)
(10,000
)
Other income (expense)
Changes in fair value of convertible preferred
stock tranche liability
—
—
—
(876
)
1,929
Interest income
1,569
6,027
4,349
542
24
Total other income (expense)
1,569
6,027
4,349
(334
)
1,953
Net loss
$
(128,694
)
$
(103,916
)
$
(55,577
)
$
(29,991
)
$
(8,047
)
Net loss per share-basic and diluted (1)
$
(2.80
)
$
(2.47
)
$
(1.95
)
$
(12.10
)
$
(4.23
)
Weighted average common shares outstanding-basic and diluted (1)
45,910,787
42,117,690
28,551,807
2,479,432
1,900,531
(1)
See Note 13 to our consolidated financial statements included elsewhere in this Annual Report on Form 10-K for an explanation of the method used to calculate basic and diluted net loss per common share and the weighted average number of shares used in the computation of the per share amounts.
As of December 31,
(in thousands)
2020
2019
2018
2017
2016
(as revised)
Consolidated Balance Sheet Data:
Cash, cash equivalents and short-term investments
$
217,431
$
262,388
$
214,737
$
129,659
$
11,392
Total assets
263,737
310,567
259,094
137,530
14,219
Total liabilities
67,742
52,060
62,739
39,222
6,719
Total stockholders’ equity (deficit)
195,995
258,507
196,355
(39,454
)
(9,892
)
Total liabilities, convertible preferred stock and
stockholders’ equity (deficit)
263,737
310,567
259,094
137,530
14,219
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.