0001121702-21-000031 | 10-Q | XBRL Viewer

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Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2021	May 07, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-33133
Entity Registrant Name	YIELD10 BIOSCIENCE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3158289
Entity Address, Postal Zip Code	01801
Entity Address, Address Line One	19 Presidential Way
Entity Address, City or Town	Woburn
Entity Address, State or Province	MA
City Area Code	617
Local Phone Number	583-1700
Title of 12(b) Security	Common Stock
Trading Symbol	YTEN
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,868,466
Entity Central Index Key	0001121702
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue:
Revenue	$ 196	$ 179
Expenses:
Research and development	1,316	1,460
General and administrative	1,432	1,387
Total expenses	2,748	2,847
Loss from operations	(2,552)	(2,668)
Other income (expense):
Change in fair value of warrants	0	(957)
Other income (expense), net	(1)	33
Total other income (expense)	(1)	(924)
Net loss from operations before income taxes	(2,553)	(3,592)
Income tax provision	(8)	(8)
Net loss	$ (2,561)	$ (3,600)
Basic and diluted net loss per share (in USD per share)	$ (0.60)	$ (2.12)
Number of shares used in per share calculations:
Basic and diluted (in shares)	4,296,129	1,697,125
Grant
Revenue:
Revenue	$ 196	$ 179

CONDENSED CONSOLIDATED BALANCE SHEETS UNAUDITED - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 18,582	$ 3,423
Short-term investments	3,262	6,279
Accounts receivable	39	86
Unbilled receivables	120	27
Prepaid expenses and other current assets	527	527
Total current assets	22,530	10,342
Long-term investments	886	0
Restricted cash	264	264
Property and equipment, net	968	921
Right-of-use assets	2,625	2,712
Other assets	295	283
Total assets	27,568	14,522
Current Liabilities:
Accounts payable	111	60
Accrued expenses	840	1,297
Lease liabilities	470	457
Total current liabilities	1,421	1,814
Lease liabilities, net of current portion	3,041	3,163
Other long-term liabilities	12	13
Total liabilities	4,474	4,990
Commitments and contingencies (Note 9)
Stockholders’ Equity:
Preferred stock ($0.01 par value per share); 5,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock ($0.01 par value per share); 60,000,000 shares authorized at March 31, 2021 and December 31, 2020; 4,865,335 and 3,334,048 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	49	33
Additional paid-in capital	400,865	384,758
Accumulated other comprehensive loss	(159)	(159)
Accumulated deficit	(377,661)	(375,100)
Total stockholders’ equity	23,094	9,532
Total liabilities and stockholders’ equity	$ 27,568	$ 14,522

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	60,000,000	60,000,000
Common stock, issued (in shares)	4,865,335	3,334,048
Common stock, outstanding (in shares)	4,865,335	3,334,048

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,561)	$ (3,600)
Other comprehensive loss
Change in unrealized gain on investments	1	22
Change in foreign currency translation adjustment	(1)	(55)
Total other comprehensive loss	0	(33)
Comprehensive loss	$ (2,561)	$ (3,633)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net loss	$ (2,561)	$ (3,600)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	54	48
Change in fair value of warrants	0	957
Loss on disposal of fixed assets	0	206
Charge for 401(k) company common stock match	44	42
Stock-based compensation	324	137
Non-cash lease expense	87	151
Deferred income tax provision	6	30
Changes in operating assets and liabilities:
Accounts receivable	47	18
Unbilled receivables	(93)	(105)
Prepaid expenses and other assets	(6)	(69)
Accounts payable	51	(144)
Accrued expenses	(480)	259
Lease liabilities	(109)	(236)
Other liabilities	(1)	18
Net cash used for operating activities	(2,637)	(2,288)
Cash flows from investing activities
Purchase of property and equipment	(101)	(42)
Proceeds from sale of property and equipment	0	10
Purchase of investments	(869)	(503)
Proceeds from the maturity of short-term investments	3,000	750
Net cash provided by investing activities	2,030	215
Cash flows from financing activities
Proceeds from warrants exercised (Note 11)	3,856	928
Proceeds from public offering, net of issuance costs	11,993	0
Taxes paid on employees' behalf related to vesting of stock awards	(83)	0
Net cash provided by financing activities	15,766	928
Effect of exchange rate changes on cash, cash equivalents and restricted cash	0	(55)
Net increase (decrease) in cash, cash equivalents and restricted cash	15,159	(1,200)
Cash, cash equivalents and restricted cash at beginning of period	3,687	5,749
Cash, cash equivalents and restricted cash at end of period	$ 18,846	$ 4,549

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Series A Preferred Stock Series A Convertible Preferred Stock	Series A Preferred Stock Common Stock	Series A Preferred Stock Additional Paid-In Capital	Series B Preferred Stock	Series B Preferred Stock Series A Convertible Preferred Stock	Series B Preferred Stock Common Stock	Series B Preferred Stock Additional Paid-In Capital
Balance (in shares) at Dec. 31, 2019		933,423				796
Balance at Dec. 31, 2019	$ (4,085)	$ 9	$ 360,926	$ (126)	$ (364,894)	$ 0
Increase (decrease) in stockholders' equity
Non-cash stock-based compensation expense	160		160
Issuance of common stock for 401k match (in shares)		3,715
Issuance of common stock for 401(k) match	25		25
Issuance of common stock for convertible securities (in shares)		204,796				(500)	62,500			(5,750)	718,750
Issuance of common stock for convertible securities	928	$ 2	926				$ 1	$ (1)			$ 7	$ (7)
Reclassification of warrant liability to equity	15,934		15,934
Effect of foreign currency translation and unrealized loss on investments	(33)			(33)
Net loss	(3,600)				(3,600)
Balance (in shares) at Mar. 31, 2020		1,923,184				296
Balance at Mar. 31, 2020	9,329	$ 19	377,963	(159)	(368,494)	$ 0
Convertible Preferred Stock, outstanding (in shares) at Dec. 31, 2019									5,750
Convertible Preferred Stock, outstanding at Dec. 31, 2019									$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of common stock upon conversion of Convertible Preferred Stock (in shares)		204,796				(500)	62,500			(5,750)	718,750
Convertible Preferred Stock, outstanding (in shares) at Mar. 31, 2020									0
Convertible Preferred Stock, outstanding at Mar. 31, 2020									$ 0
Balance (in shares) at Dec. 31, 2020		3,334,048				0
Balance at Dec. 31, 2020	9,532	$ 33	384,758	(159)	(375,100)	$ 0
Increase (decrease) in stockholders' equity
Non-cash stock-based compensation expense	335		335
Issuance of common stock for 401k match (in shares)		3,759
Issuance of common stock for 401(k) match	22		22
Issuance of common stock for convertible securities (in shares)		481,973
Issuance of common stock for convertible securities	3,856	$ 5	3,851
Issuance of common stock for restricted stock units (in shares)		5,555
Issuance of common stock for restricted stock units	0		0
Taxes paid on employees' behalf related to vesting of stock awards	(83)		(83)
Issuance of common stock for stock offerings (in shares)		1,040,000
Issuance of common stock for stock offerings, net of offering costs	11,993	$ 11	11,982
Effect of foreign currency translation and unrealized loss on investments	0
Net loss	(2,561)				(2,561)
Balance (in shares) at Mar. 31, 2021		4,865,335				0
Balance at Mar. 31, 2021	$ 23,094	$ 49	$ 400,865	$ (159)	$ (377,661)	$ 0
Convertible Preferred Stock, outstanding (in shares) at Dec. 31, 2020									0
Convertible Preferred Stock, outstanding at Dec. 31, 2020									$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of common stock upon conversion of Convertible Preferred Stock (in shares)		481,973
Convertible Preferred Stock, outstanding (in shares) at Mar. 31, 2021									0
Convertible Preferred Stock, outstanding at Mar. 31, 2021									$ 0

ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

ACCOUNTING POLICIES

Principles of Consolidation

The Company's unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions were eliminated, including transactions with its subsidiaries, Metabolix Oilseeds, Inc. and Yield10 Bioscience Securities Corp.

Reverse Stock Split

On January 15, 2020, the Company effected a 1-for-40 reverse stock split of its common stock. Unless otherwise indicated, all share amounts, per share data, share prices, and conversion rates set forth in these notes and the accompanying unaudited condensed financial statements have, where applicable, been adjusted retroactively to reflect this reverse stock split.

Cash, Cash Equivalents and Restricted Cash

The Company considers all highly liquid investments purchased with an original maturity date of ninety days or less at the date of purchase to be cash equivalents.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Company's Unaudited Condensed Consolidated Balance Sheets included herein:


	March 31, 2021		December 31, 2020
Cash and cash equivalents	$	18,582	$	3,423
Restricted cash	264		264
Total cash, cash equivalents and restricted cash	$	18,846	$	3,687

Amounts included in restricted cash represent those required to be set aside by contractual agreement. Restricted cash of $264 at March 31, 2021 and December 31, 2020 consists primarily of funds held in connection with the Company's lease agreement for its Woburn, Massachusetts facility.

Investments

The Company classifies investments purchased with an original maturity date of more than ninety days at the date of purchase and a maturity date of one year or less at the balance sheet date to be short-term investments. The Company classifies investments with a maturity date of greater than one year from the balance sheet date as long-term investments.

Other-than-temporary impairments of equity investments are recognized in the Company's statements of operations if the Company has experienced a credit loss and has the intent to sell the investment or if it is more likely than not that the Company will be required to sell the investment before recovery of the amortized cost basis. Realized gains and losses, dividends, interest income and declines in value judged to be other-than-temporary credit losses are included in other income (expense). Any premium or discount arising at purchase is amortized and/or accreted to interest income.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of grant revenue and expenses during the reporting periods. Actual results could differ from those estimates.

Foreign Currency Translation

The functional currency for Metabolix Oilseeds, Inc. is the Canadian dollar. Foreign denominated assets and liabilities of Metabolix Oilseeds are translated into U.S. dollars at the prevailing exchange rates in effect on the balance sheet date. Revenues and expenses are translated at average exchange rates prevailing during the period. Any resulting translation gains or losses are recorded in accumulated other comprehensive income (loss) in the consolidated balance sheet. When the Company dissolves, sells all or substantially all of the assets of a consolidated foreign subsidiary, the cumulative translation gain or loss of that subsidiary is released from comprehensive income (loss) and included within its consolidated statement of operations during the fiscal period when the dissolution or sale occurs.

Comprehensive Loss

Comprehensive loss is comprised of net loss and certain changes in stockholders' equity that are excluded from net loss. The Company includes unrealized gains and losses on debt securities and foreign currency translation adjustments in other comprehensive loss.

Income Taxes

The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the consolidated financial statements or in the Company's tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is provided to reduce deferred tax assets to a level which, more likely than not, will be realized.

The Company accounts for uncertain tax positions using a "more-likely-than-not" threshold for recognizing and resolving uncertain tax positions. The evaluation of uncertain tax positions is based on factors that include, but are not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, new audit activity and changes in facts or circumstances related to a tax position. The provision for income taxes includes the effects of any resulting tax reserves or unrecognized tax benefits that are considered appropriate as well as the related net interest and penalties, if any. The Company evaluates uncertain tax positions on a quarterly basis and adjusts the level of the liability to reflect any subsequent changes in the relevant facts surrounding the uncertain positions.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of cash, cash equivalents and investments. The Company has historically invested its cash in highly rated money market funds, corporate debt, federal agency notes and U.S. treasury notes. Investments, when purchased, are acquired in accordance with the Company’s investment policy which establishes a concentration limit per issuer.

At March 31, 2021 and December 31, 2020 , 100% of the Company's accounts and unbilled receivables are due from the U.S. and Canadian government grants. During the three months ended March 31, 2021, revenue earned from the Company's Michigan State University ("MSU") sub-award and from its research grant funded through the National Research Council Canada, represented 80.3% and 19.7% of recognized government grant revenue, respectively. During the three months ended March 31, 2020, the MSU sub-award represented 100.0%, of government grant revenue earned for the period.

Fair Value Measurements

The carrying amounts of the Company's financial instruments as of March 31, 2021 and December 31, 2020, which include cash equivalents, accounts receivable, unbilled receivables, accounts payable, and accrued expenses, approximate their fair values due to the short-term nature of these instruments. See Note 5 for further discussion on fair value measurements.

Segment Information

The accounting guidance for segment reporting establishes standards for reporting information on operating segments in financial statements. The Company is an agricultural bioscience company operating in one segment, which is the development of improved Camelina varieties to produce proprietary products, and to produce other high value genetic traits for the agriculture and food industries. The Company's chief operating decision-maker does not manage any part of the Company separately, and the allocation of resources and assessment of performance are based on the Company's consolidated operating results.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation and amortization. Repairs and maintenance are charged to operating expense as incurred. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets once they are placed in service as follows:


Asset Description						Estimated Useful Life (years)
Equipment						3
Furniture and fixtures						5
Software						3
Leasehold improvements						Shorter of useful life or term of lease

Right-of-Use Assets

The Company’s right-of-use assets consist of leased assets recognized in accordance with ASC 842, Leases, ("ASC 842") which requires lessees to recognize a lease liability and a corresponding right-of-use asset for long-term lease contracts. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The Company uses its incremental borrowing rate in calculating the present value of future lease payments when interest rates are not implicit in the lease. Leases with terms of 12 months or less at inception are expensed as costs are incurred and not capitalized under ASC 842.

Impairment of Long-Lived Assets

Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Accounting guidance further requires that companies recognize an impairment loss only if the carrying amount of a long-lived asset is not recoverable based on its undiscounted future cash flows and measure an impairment loss as the difference between the carrying amount and fair value of the asset.

Grant Revenue

The Company's source of continuing revenue is from its government research grants, in which it serves as either the primary contractor or as a subcontractor. These grants are considered a central operation of the Company's business. Revenue is earned as research expenses related to the grants are incurred. Revenue earned on government grants, but not yet invoiced as of the balance sheet date, are recorded as unbilled receivables in the accompanying unaudited condensed consolidated balance sheets at March 31, 2021 and December 31, 2020. Funds received from government grants in advance of work being performed, if any, are recorded as deferred revenue until earned.

Research and Development

All costs associated with internal research and development are expensed as incurred. Research and development expenses include, among others, direct costs for salaries, employee benefits, subcontractors, crop trials, facility related expenses, depreciation, and stock-based compensation. Costs incurred in connection with government research grants are recorded as research and development expense.

General and Administrative Expenses

The Company's general and administrative expense includes costs for salaries, employee benefits, facilities expenses, consulting and professional service fees, travel expenses, depreciation, stock-based compensation and office related expenses incurred to support the administrative operations of the Company.

Intellectual Property Costs

The Company includes all costs associated with the prosecution and maintenance of patents within general and administrative expenses in the Company's unaudited condensed consolidated statement of operations.

Stock-Based Compensation

All share-based payments to employees, members of the Board of Directors and non-employees are recognized within operating expenses based on the straight-line recognition of their grant date fair value over the period during which the recipient is required to provide service in exchange for the award. See Note 7 for a description of the types of stock-based awards granted, the compensation expense related to such awards and detail of equity-based awards outstanding.

Recent Accounting Standards

From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies that the Company adopts as of the specified effective date. During the three months ended March 31, 2021, the Company did not adopt any new accounting guidance.

The following new pronouncement is not yet effective but may impact the Company's financial statements in the future.

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The FASB subsequently issued amendments to ASU 2016-13, which have the same effective date and transition date as the initial pronouncement. This standard requires entities to estimate an expected lifetime credit loss on financial assets ranging from short-term trade accounts receivable to long-term financings and report credit losses using an expected losses model rather than the incurred losses model that was previously used, and establishes additional disclosures related to credit risks. For available-for-sale debt securities with unrealized losses, this standard now requires allowances to be recorded instead of reducing the amortized cost of the investment. This standard limits the amount of credit losses to be recognized for available-for-sale debt securities to the amount by which carrying value exceeds fair value and requires the reversal of previously recognized credit losses if fair value increases. The guidance is effective for fiscal years beginning after December 15, 2022 for SEC filers that are eligible to be smaller reporting companies under the SEC’s definition, and interim periods within those fiscal years. The Company is currently evaluating the impact this guidance will have on its unaudited condensed consolidated financial statements.

NATURE OF BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
NATURE OF BUSINESS AND BASIS OF PRESENTATION	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION	NATURE OF BUSINESS AND BASIS OF PRESENTATION Yield10 Bioscience, Inc. ("Yield10" or the "Company") is an agricultural bioscience company that is using its differentiated trait gene discovery platform, the "Trait Factory", to develop improved Camelina varieties to produce proprietary products, and to produce other high value genetic traits for the agriculture and food industries. Yield10 is headquartered in Woburn, Massachusetts and has an Oilseed Center of Excellence in Saskatoon, Saskatchewan, Canada. The Company's goals are to efficiently develop and commercialize a high value crop products business by developing superior varieties of Camelina for the production of feedstock oils, nutritional oils, and PHA bioplastics, and to license its yield traits to major seed companies for commercialization in major row crops, including corn, soybean and canola. The accompanying condensed consolidated financial statements are presented in U.S. dollars, are unaudited, and have been prepared by Yield10 in accordance with accounting principles generally accepted in the United States of America ("GAAP") and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Certain information and footnote disclosures normally included in the Company’s annual consolidated financial statements have been condensed or omitted. The year-end condensed consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. The condensed consolidated financial statements, in the opinion of management, reflect all adjustments (consisting only of normal recurring adjustments) necessary for fair statements of the financial position and results of operations for the interim periods ended March 31, 2021 and March 31, 2020. The results of operations for the interim periods are not necessarily indicative of the results of operations to be expected for any future period or the entire fiscal year. These interim unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2020, which are contained in the Company’s Annual Report on Form 10-K filed with the SEC on March 16, 2021. The accompanying condensed consolidated financial statements have been prepared on a basis which assumes that the Company will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the normal course of business. With the exception of a single year, the Company has recorded losses since its initial founding, including the three months ended March 31, 2021. As of March 31, 2021, the Company held unrestricted cash, cash equivalents and investments of $22,730. The Company follows the guidance of Accounting Standards Codification ("ASC") Topic 205-40, Presentation of Financial Statements-Going Concern, in order to determine whether there is substantial doubt about its ability to continue as a going concern for one year after the date its financial statements are issued. Based on its current cash forecast, management expects that the Company's present capital resources will be sufficient to fund its planned operations for at least that period of time. This forecast of cash resources is forward-looking information that involves risks and uncertainties, and the actual amount of expenses could vary materially and adversely as a result of a number of factors. The Company's ability to continue operations after its current cash resources are exhausted depends on its ability to obtain additional financing through, among other sources, public or private equity financing, secured or unsecured debt financing, equity or debt bridge financing, warrant holders' ability and willingness to exercise the Company's outstanding warrants, additional government grants or collaborative arrangements with third parties, as to which no assurance can be given. Management does not know whether additional financing will be available on terms favorable or acceptable to the Company when needed, if at all. If adequate additional funds are not available when required, management may be forced to curtail the Company's research efforts, explore strategic alternatives and/or wind down its operations and pursue options for liquidating its remaining assets, including intellectual property. If the Company issues equity or debt securities to raise additional funds in the future, (i) the Company may incur fees associated with such issuance, (ii) its existing stockholders may experience dilution from the issuance of new equity securities, (iii) the Company may incur ongoing interest expense and be required to grant a security interest in Company assets in connection with any debt issuance, and (iv) the new equity or debt securities may have rights, preferences and privileges senior to those of the Company’s existing stockholders. In addition, utilization of the Company’s net operating loss and research and development credit carryforwards may be subject to significant annual limitations under Section 382 of the Internal Revenue Code due to ownership changes resulting from equity financing transactions. If the Company raises additional funds through collaboration, licensing or other similar arrangements, it may be necessary to relinquish valuable rights to its potential products or proprietary technologies or grant licenses on terms that are not favorable to the Company.

BASIC AND DILUTED NET INCOME (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

BASIC AND DILUTED NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of dilutive common shares outstanding during the period. Diluted shares outstanding is calculated by adding to the weighted shares outstanding any potential (unissued) shares of common stock from outstanding stock options and warrants based on the treasury stock method, as well as weighted shares outstanding of any potential (unissued) shares of common stock from restricted stock units and the conversion of convertible preferred stock. In periods when a net loss is reported, all common stock equivalents are excluded from the calculation because they would have an anti-dilutive effect, meaning the loss per share would be reduced. Therefore, in periods when a loss is reported, basic and dilutive loss per share are the same. Common stock equivalents include stock options, restricted stock awards, convertible preferred stock and warrants.

The number of shares of potentially dilutive common stock presented on a weighted average basis, related to options, restricted stock units, convertible preferred stock and warrants (prior to consideration of the treasury stock method) that were excluded from the calculation of dilutive shares since the inclusion of such shares would be anti-dilutive for the three months ended March 31, 2021 and March 31, 2020, respectively, are shown below. Issued and outstanding warrants and more detailed information related to the Company's convertible preferred stock shown in the table below are described in greater detail in Note 11, contained herein.


	Three Months Ended March 31,
	2021	2020
Options	156,035	68,032
Restricted Stock Awards	10,369	9,341
Series A Convertible Preferred Stock	—	39,060
Series B Convertible Preferred Stock	—	126,374
Warrants	175,995	2,846,199
Total	342,399	3,089,006

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The Company has certain financial assets recorded at fair value which have been classified as Level 1 and Level 2 within the fair value hierarchy as described in the accounting standards for fair value measurements. Fair value is the price that would be received from the sale of an asset or the price paid to transfer a liability in an orderly transaction between independent market participants at the measurement date. Fair values determined by Level 1 inputs utilize observable data such as quoted prices in active markets for identical instruments. Fair values determined by Level 2 inputs utilize data points other than quoted prices in active markets that are observable either directly or indirectly. Fair values determined by Level 3 inputs utilize unobservable data points in which there is little or no market data, which require the reporting entity to develop its own assumptions. The fair value hierarchy level is determined by the lowest level of significant input.

The Company’s financial assets classified as Level 2 at March 31, 2021 and December 31, 2020 were initially valued at the transaction price and subsequently valued utilizing third-party pricing services. Because the Company’s investment portfolio may include securities that do not always trade on a daily basis, the pricing services use many observable market inputs to determine value including reportable trades, benchmark yields and benchmarking of like securities. The Company validates the prices provided by the third-party pricing services by reviewing their pricing methods and obtaining market values from other pricing sources. After completing the validation procedures, the Company did not adjust or override any fair value measurements provided by these pricing services as of March 31, 2021 and December 31, 2020.

The tables below present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.


	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)		March 31, 2021
Assets
Cash equivalents:
Money market funds	$	17,900	$	—	$	—	$	17,900

Short-term investments:
U.S. government and agency securities	—		3,262		—		3,262
Long-term investments:
U.S. government and agency securities	—		886		—		886
Total assets	$	17,900	$	4,148	$	—	$	22,048


	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, 2020
Assets
Cash equivalents:
Money market funds	$	2,873	$	—	$	—	$	2,873

Short-term investments:
U.S. government and agency securities	—		6,279		—		6,279
Total assets	$	2,873	$	6,279	$	—	$	9,152

There were no transfers of financial assets or liabilities between category levels during the three months ended March 31, 2021 and the three months ended March 31, 2020.

During November 2019, the Company issued Series A Warrants and Series B Warrants in two concurrent securities offerings that were considered free standing financial instruments, that were legally detachable and separately exercisable from the common and preferred stock issued in the two offerings. The Company determined that all of the Series A Warrants and Series B Warrants should be classified as a warrant liability in accordance with ASC 480, Distinguishing Liabilities from Equity, and recognized at their inception date fair value due to the insufficiency of common shares available to permit their exercise. The warrant liability met Level 3 classification criteria for classification within the fair value hierarchy. On January 15, 2020, the Company filed an amendment to its Certificate of Incorporation with the State of Delaware to effect a 1-for-40 reverse stock split. As a result of the reverse stock split, the Company's number of authorized but unissued shares of Common Stock increased significantly and the Series A Warrants and Series B Warrants became eligible for exercise. Prior to reclassification as equity, on January 15, 2020, the Company adjusted the warrant liability to its then $15,934 fair value using the Black-Scholes valuation model, recording a loss on the adjustment to fair value of $957.

The following table shows a reconciliation of the beginning and ending balances for the Level 3 warrant liability for the three months ending March 31, 2020.


	Three Months Ended March 31, 2020
Warrant liability, December 31, 2019	$	14,977
Recognized loss from mark-to-market adjustment prior to reclassification of warrant liability to equity	957
Reclassification from warrant liability to equity	(15,934)
Warrant liability, March 31, 2020	$	—

The Company owns 648,149 shares of Series A Redeemable Convertible Preferred Stock of Tepha, Inc. ("Tepha"), a privately held medical device company located in Lexington, Massachusetts, that is engaged in the development of medical device products that restore, maintain, or improve tissue function. The Company received the preferred shares from Tepha

during 2002 in connection with a technology sublicense agreement that was later terminated during 2016. The preferred shares owned by the Company represent less than one percent of Tepha's current outstanding common shares on a fully diluted basis and were fully written off through an impairment charge during 2005 prior to Tepha initiating commercial product sales.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

INVESTMENTS

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

Investments consist of the following at March 31, 2021 and December 31, 2020:


	Accumulated Cost at March 31, 2021		Unrealized				Market Value at March 31, 2021
			Gain		(Loss)
Short-term investments
U.S. government and agency securities	$	3,261	$	1	$	—	$	3,262
Long-term investments
U.S. government and agency securities	$	886	$	—	$	—	$	886
Total	$	4,147	$	1	$	—	$	4,148


	Accumulated Cost at December 31, 2020		Unrealized				Market Value at December 31, 2020
			Gain		(Loss)
Short-term investments
U.S. government and agency securities	$	6,279	$	—	$	—	$	6,279
Total	$	6,279	$	—	$	—	$	6,279

All investments are classified as available for sale as of March 31, 2021 and December 31, 2020. The Company held no long-term investments at December 31, 2020.

ACCRUED EXPENSES

3 Months Ended

Mar. 31, 2021

Payables and Accruals [Abstract]

ACCRUED EXPENSES

Accrued expenses consisted of the following at:


	March 31, 2021		December 31, 2020
Employee compensation and benefits	$	330	$	620
Leased facilities	63		188
Professional services	249		235
Other	198		254
Total accrued expenses	$	840	$	1,297

STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Expense Information for Employee and Non-Employee Stock Awards

The Company recognized stock-based compensation expense related to stock awards, including awards to non-employees and members of the Board of Directors of $324 and $137 for the three months ended March 31, 2021 and three months ended March 31, 2020, respectively. At March 31, 2021, there was approximately $3,860 of pre-tax stock-based compensation expense related to unvested awards not yet recognized.

The compensation expense related to unvested stock awards is expected to be recognized over a remaining weighted average period of 3.19 years.

Stock Options

A summary of option activity for the three months ended March 31, 2021 is as follows:


	Number of Shares	Weighted Average Exercise Price
Outstanding at December 31, 2020	339,108	$	32.39
Granted	131,343	$	16.46
Exercised	—	$	—
Forfeited	—	$	—
Expired	(11)	$	21,888.00
Outstanding at March 31, 2021	470,440	$	27.43

Options exercisable at March 31, 2021	107,034	$	80.78

In accordance with the terms of the 2018 Stock Option and Incentive Plan ("2018 Stock Plan"), effective January 1, 2021, the Company's Board of Directors approved the addition of 166,702 shares to the 2018 Stock Plan, which was 5% of the Company's outstanding common stock on the day prior to the increase.

Restricted Stock Units

The Company records stock compensation expense for restricted stock units ("RSUs") on a straight-line basis over their requisite service period, which approximates the vesting period, based on each RSU's award date market value. As RSUs vest, the Company withholds a number of shares from its employees with an aggregate fair market value equal to the minimum tax withholding amount from the common stock issuable at the vest date. During the three months ended March 31, 2021, 8,500 employee RSUs vested, of which 2,945 common shares with a total market value of $67 were withheld to pay employee tax withholding.

A summary of RSU activity for the three months ended March 31, 2021 is as follows:


	Number of RSUs	Weighted Average Remaining Contractual Life (years)
Outstanding at December 31, 2020	8,500
Awarded	18,862
Common stock issued upon vesting	(8,500)
Forfeited	—
Outstanding at March 31, 2021	18,862	0.67

LEASES

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

LEASES

Lease Accounting

As a lessee, the Company follows the lease accounting guidance codified in ASC 842. Under ASC 842, a lease is classified as a finance lease if any of five criteria described in the guidance apply to the lease. Any lease not classified as a finance lease is classified as an operating lease with expense recognition occurring on a straight-line basis over the term of the lease. The Company's existing lease subject to ASC 842 meets the standards for operating lease classification.

Under ASC 842, a lease liability is recorded on the commencement date of a lease and is calculated as the present value of the remaining lease payments, using the interest rate implicit in the lease, or if that rate is not readily determinable, using the lessee's incremental borrowing rate. A right-of-use asset equal to the lease liability is also recorded with adjustments made, as necessary, for lease prepayments, lease accruals, initial direct costs and lessor lease incentives that may be present within the terms of the lease. The Company adopted the short-term lease exception that permits lessees to omit leases with terms of twelve months or less from the accounting requirements of ASC 842.

Maturity Analysis of Lease Liabilities

The Company's Woburn, Massachusetts facility is the only lease included in the Company's right-of-use assets and corresponding lease liabilities. No other active real estate or equipment leases fall within the scope of ASC 842. At March 31, 2021, the Company's lease liability related to its Woburn facility will mature as follows:


Year ended December 31,	Undiscounted Cash Flows
2021 (April to December)	$	531
2022	726
2023	749
2024	771
2025	793
Thereafter	747
Total undiscounted future lease payments	4,317
Amount of lease payments representing interest	(806)
Total lease liabilities	$	3,511
Short-term lease liability	$	470
Long-term lease liability	$	3,041

Quantitative Disclosure of Lease Costs


	Three Months Ended March 31,
	2021		2020
Lease cost:
Operating lease cost	$	151	$	203
Short-term lease cost	156		183
Sublease income	(173)		(137)
Total lease cost, net	$	134	$	249


Other information as of:	March 31, 2021	December 31, 2020


Weighted-average remaining lease term (years)	5.7	5.9
Weighted-average discount rate	7.25%	7.25%

Real Estate Leases

During 2016, the Company entered into a lease agreement, as amended, for its headquarters pursuant to which the Company leases 22,213 square feet of office and research and development space located at 19 Presidential Way, Woburn, Massachusetts. The lease agreement will terminate on November 30, 2026 and does not include options for an early termination or for an extension of the lease. Pursuant to the lease, the Company is required to pay certain pro rata taxes and operating costs associated with the premises throughout the term of the lease. During the initial buildout of the rented space, the landlord paid for certain tenant improvements that resulted in increased rental payments by the Company. Upon adopting ASC 842 these improvements were recorded as a reduction in the valuation of the associated right-of-use asset. The Company has provided the landlord with a security deposit of $229.

In October 2016, the Company entered into a sublease agreement with a subsidiary of CJ CheilJedang Corporation ("CJ") with respect to CJ's sublease of approximately 9,874 square feet of its leased facility located in Woburn, Massachusetts. The sublease space was determined to be in excess of the Company's needs. The CJ sublease is coterminous with the Company's master lease and CJ will pay rent and operating expenses proportionate to the amounts payable to the landlord by the Company, as adjusted from time to time in accordance with the terms of the master lease. Future CJ sublease payments have not been presented as an offset to total undiscounted future lease payments of $4,317 shown in the lease maturity analysis table above. CJ provided the Company with a security deposit of $103 in the form of an irrevocable letter of credit.

Through May 2020, the Company leased approximately 13,702 square feet of office and laboratory space in Lowell, Massachusetts. The lease terminated in accordance with the terms of the lease agreement and the facility has been returned to the landlord. No further expenses are anticipated under this lease.

The Company's wholly-owned subsidiary, Metabolix Oilseeds, Inc. ("MOI"), located in Saskatoon, Saskatchewan, Canada, leases approximately 7,000 square feet of office, laboratory and greenhouse space located within Innovation Place at 410 Downey Road and within the research facility of National Research Council Canada located at 110 Gymnasium Place. None of the leases contain renewal or early termination options. MOI's leases for these facilities expire on various dates through September 2021.

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Contractual Commitments Exclusive Collaboration Agreement with Rothamsted Research ("Rothamsted") On November 12, 2020, the Company signed an exclusive collaboration agreement with UK-based Rothamsted to support Rothamsted’s program to develop omega-3 oils in Camelina sativa. Under the agreement, Yield10 is providing Rothamsted with financial support for ongoing research including further DHA+EPA trait improvement, field testing and nutritional studies. The Company will pay Rothamsted quarterly research funding and option fees of $31 for two years totaling $250, of which $219 remains outstanding as of March 31, 2021. As part of the agreement, the Company has an exclusive two-year option to sign a global, exclusive or non-exclusive license agreement to the technology. The current agreement terminates automatically on its second anniversary unless terminated earlier in accordance with the terms of the agreement. License Agreement with the University of Massachusetts ("UMASS") Pursuant to a license agreement with UMASS dated as of June 30, 2015 and subsequently amended, the Company has an exclusive, worldwide license under certain patents and patent applications, including issued patents covering the Company's yield trait gene C3003, relating to the manufacture of plants with enhanced photosynthesis. The agreement provides an exclusive, worldwide license to make, have made, use, offer for sale and import any transgenic plant seed or plant grown from transgenic plant material for sale to a farmer or grower that is derived from (in whole or in part) one or more issued or pending claims of the licensed patents or patent applications. Pursuant to the UMASS license agreement, the Company is required to use diligent efforts to develop licensed products throughout the field of use and to introduce licensed products into the commercial market. The Company's failure to achieve any milestone provided for under the agreement would give UMASS the right to terminate the agreement, following a notice period, unless the Company is able to reach agreement with UMASS as to a potential adjustment to the applicable milestone. The Company is obligated to pay UMASS milestone payments relating to regulatory filings and approvals covered by the agreement, minimum annual royalties or royalties on any sales of licensed products following regulatory approval, as well as a percentage of any sublicense income, if any, related to the licensed products. The Company or UMASS may terminate the agreement in accordance with the terms of the agreement. License Agreement with the University of Missouri ("UM") Pursuant to a license agreement with UM dated as of May 17, 2018, Yield10 has an exclusive, worldwide license to two novel gene technologies to boost oil content in crops. Both technologies are based on significant new discoveries around the function and regulation of ACCase, a key rate-limiting enzyme involved in oil production. The UM license was expanded during May 2019 to include an exclusive worldwide license to a third gene in the ACCase complex, that the Company has designated C3012, that may complement the activity of C3007 to boost oil content in crops. Pursuant to the UM license agreement, the Company is required to use diligent efforts to develop licensed products throughout the licensed field and to introduce licensed products into the commercial market. The Company's failure to achieve any milestone provided for under the license agreement would give UM the right to terminate the license agreement or render it nonexclusive, unless the Company is able to reach agreement with UM as to the potential adjustment of the applicable milestone. The Company is obligated to pay UM a license execution payment, milestone payments relating to any regulatory filings and approvals covered by the license agreement, royalties on any sales of licensed products following regulatory approval, as well as a percentage of any sublicense royalties, if any, related to the licensed products. The Company or UM may terminate the license agreement in accordance with the terms of the agreement. Facility Leases The Company leases facilities under non-cancelable leases expiring at various dates through November 30, 2026. See Note 8. Litigation From time to time, the Company may be subject to legal proceedings and claims in the ordinary course of business. The Company is not currently aware of any such proceedings or claims that it believes will have, individually or in the aggregate, a material adverse effect on its business, financial condition or results of operations. Guarantees As of March 31, 2021, and December 31, 2020, the Company did not have significant liabilities recorded for guarantees. The Company enters into indemnification provisions under various agreements with other companies in the ordinary course of business, typically with business partners and contractors. Under these provisions, the Company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of its activities. These indemnification provisions generally survive termination of the underlying agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification provisions is unlimited. However, to date Yield10 has not incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. As a result, the estimated fair value of the indemnifications under these agreements is believed to be minimal. Accordingly, the Company has no liabilities recorded for these agreements as of March 31, 2021 and December 31, 2020.

GEOGRAPHIC INFORMATION

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

GEOGRAPHIC INFORMATION

The geographic distribution of the Company’s grant revenues and long-lived assets are summarized in the tables below:


	U.S.		Canada		Eliminations		Total
Three Months Ended March 31, 2021
Grant revenue from external customers	$	157	$	39	$	—	$	196
Inter-geographic revenues	—		453		(453)		—
Revenues	$	157	$	492	$	(453)	$	196

Three Months Ended March 31, 2020
Grant revenue from external customers	$	179	$	—	$	—	$	179
Inter-geographic revenues	—		404		(404)		—
Revenues	$	179	$	404	$	(404)	$	179

Foreign revenue is based on the country in which the Company’s subsidiary that earned the revenue is domiciled. During the three months ended March 31, 2021 and March 31, 2020, revenue earned from the Company's Michigan State University sub-award represented 80.3% and 100.0%, respectively, of total government grant revenue for each period.

The geographic distribution of the Company’s long-lived assets is summarized as follows:


	U.S.		Canada		Eliminations		Total
March 31, 2021	$	920	$	48	$	—	$	968
December 31, 2020	$	866	$	55	$	—	$	921

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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+ Details

CAPITAL STOCK AND WARRANTS

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

CAPITAL STOCK AND WARRANTS

Common Stock

Registered Public Offerings

On February 3, 2021, the Company completed a public offering of 1,040,000 shares of its common stock at a public offering price of $12.25 per share for total gross proceeds of $12,740 before issuance costs of $747.

On August 26, 2020, the Company completed a public offering of 835,000 shares of its common stock at a public offering price of $4.25 per share. In addition, the underwriter exercised its over-allotment option to purchase 116,835 shares of common stock at the same price for total gross proceeds of $4,045 before issuance costs of $425.

Private Placement

Concurrent with the registered public offering completed on August 26, 2020, as described above, the Company completed a separate private placement offering of 396,450 shares of its common stock to certain existing shareholders at the same $4.25 price offered to investors in the public offering. The proceeds from this private placement were $1,685.

Reverse Stock Split

On January 15, 2020, the Company completed a 1-for-40 reverse stock split ("Reverse Stock Split") of its common stock by filing a certificate of amendment (the "Charter Amendment") with the State of Delaware to amend its certificate of incorporation. The ratio for the Reverse Stock Split was determined by the Company's board of directors following approval by stockholders at the Company's special meeting held on January 9, 2020. The Reverse Stock Split had the effect of increasing the Company's common shares available for issuance by reducing issued and outstanding common shares by a divisible factor of 40 while its authorized common shares remained at the current 60 million shares. Proportional adjustments were made to the Company's outstanding stock options and to the number of shares issued and issuable under the Company's equity compensation plans.

November 2019 Concurrent Securities Offerings

On November 19, 2019, the Company closed on concurrent public and private securities offerings that included the following: common stock, Series A Convertible Preferred Stock, Series B Convertible Preferred Stock, Series A Warrants and Series B Warrants. Combined gross cash proceeds from the offerings totaled $11,500, before issuance costs of $1,254.

As of the November 19, 2019 closing date of the two offerings, the Company did not have sufficient authorized and available shares of common stock to permit conversion of the Series B Convertible Preferred Stock sold in the private placement or to permit the exercise of the 2,875,000 combined Series A Warrants and Series B Warrants issued under both the public and the private offerings. The Series B Convertible Preferred Shares and the warrants were not convertible or exercisable until more shares of common stock became available for issuance through the Company's filing of the Charter Amendment for the Reverse Stock Split described above. Upon the filing of the amendment on January 15, 2020, all of the Series B Convertible Preferred Stock sold in the private placement automatically converted into 718,750 shares of common stock and the Series A Warrants and Series B Warrants issued in both offerings became eligible for exercise.

At the time of their issuance, the Company determined that all of the Series A Warrants and Series B Warrants should be classified as a warrant liability and recorded at an inception date fair value of $24,518 due to the insufficiency of common shares available to permit their exercise. The Company re-measured the fair value of the warrants on December 31, 2020 and again on January 15, 2020 (the date of filing the Charter Amendment to increase available shares of common stock), resulting in, respectively, the recognition of a gain of $9,541 followed by a loss of $957, due to the change in fair value at each valuation date. By filing the Charter Amendment and effecting the 1-for-40 Reverse Stock Split, the Company's outstanding common shares were reduced by a divisible factor of 40 while authorized common shares remained at the current 60 million shares. As a result of this corporate action, sufficient shares of authorized, but unissued shares of common stock became available for Series A and Series B warrant holders to exercise their warrants resulting in their reclassification from warrant liability to equity during the three months ended March 31, 2020.

Preferred Stock

The Company's Certificate of Incorporation authorizes it to issue up to 5,000,000 shares of $0.01 par value preferred stock.

Description of Series A Convertible Preferred Stock

The November 2019 public offering of the Company's securities included the issuance of 2,504 shares of Series A Convertible Preferred Stock. Each Series A Convertible Preferred Share was convertible into 125 shares of common stock at a conversion price of $8.00 per share. All of the 2,504 shares of the Series A Convertible Preferred Stock converted to 313,000 shares of common stock by April 30, 2020.

Description of Series B Convertible Preferred Stock

The November 2019 private offering of the Company's securities included the issuance of 5,750 shares of Series B Convertible Preferred Stock. Each share of Series B Convertible Preferred Stock was convertible into 125 shares of common stock at a conversion price of $8.00 per share. All of the Series B Convertible Preferred Stock converted automatically to 718,750 shares of common stock on January 15, 2020, upon the Company's filing of a Charter Amendment for the reverse stock split described above.

When converted, the shares of Series A and B Convertible Preferred Stock were restored to the status of authorized but unissued shares of preferred stock, subject to reissuance by the Company's board of directors.

Warrants

The following table summarizes information regarding outstanding warrants to purchase common stock as of March 31, 2021:


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	352,703	$	8.00	May 19, 2022
November 2019 Public Offering - Series B	395,528	$	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	2,361,726

During the three months ended March 31, 2021, a total of 481,973 Series A and Series B warrants issued in the Company's November 2019 securities offering were exercised by warrant holders, providing $3,856 in cash proceeds.

Reserved Shares

The following shares of common stock were reserved for future issuance upon exercise of stock options, vesting of RSUs and conversion of warrants:


	March 31, 2021	December 31, 2020
Stock Options	470,440	339,108
RSUs	18,862	8,500

Warrants	2,361,726	2,843,699
Total number of common shares reserved for future issuance	2,851,028	3,191,307

ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Principles of Consolidation

Cash, Cash Equivalents and Restricted Cash

The Company considers all highly liquid investments purchased with an original maturity date of ninety days or less at the date of purchase to be cash equivalents.

Investments

Use of Estimates

Foreign Currency Translation

Foreign Currency TranslationThe functional currency for Metabolix Oilseeds, Inc. is the Canadian dollar. Foreign denominated assets and liabilities of Metabolix Oilseeds are translated into U.S. dollars at the prevailing exchange rates in effect on the balance sheet date. Revenues and expenses are translated at average exchange rates prevailing during the period. Any resulting translation gains or losses are recorded in accumulated other comprehensive income (loss) in the consolidated balance sheet. When the Company dissolves, sells all or substantially all of the assets of a consolidated foreign subsidiary, the cumulative translation gain or loss of that subsidiary is released from comprehensive income (loss) and included within its consolidated statement of operations during the fiscal period when the dissolution or sale occurs.

Comprehensive Income (Loss)

Comprehensive Loss

Income Taxes

Concentration of Credit Risk

Fair Value Measurements

Fair Value MeasurementsThe carrying amounts of the Company's financial instruments as of March 31, 2021 and December 31, 2020, which include cash equivalents, accounts receivable, unbilled receivables, accounts payable, and accrued expenses, approximate their fair values due to the short-term nature of these instruments.

Segment Information

Property and Equipment


Asset Description						Estimated Useful Life (years)
Equipment						3
Furniture and fixtures						5
Software						3
Leasehold improvements						Shorter of useful life or term of lease

Right-of-Use Assets

Impairment of Long-Lived Assets

Grant Revenue

Research and Development

General and Administrative Expenses

Intellectual Property Costs

Stock-based Compensation

Stock-Based CompensationAll share-based payments to employees, members of the Board of Directors and non-employees are recognized within operating expenses based on the straight-line recognition of their grant date fair value over the period during which the recipient is required to provide service in exchange for the award.

Recent Accounting Standards

The following new pronouncement is not yet effective but may impact the Company's financial statements in the future.

ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Schedule of Restricted Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Company's Unaudited Condensed Consolidated Balance Sheets included herein:


	March 31, 2021		December 31, 2020
Cash and cash equivalents	$	18,582	$	3,423
Restricted cash	264		264
Total cash, cash equivalents and restricted cash	$	18,846	$	3,687

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the Company's Unaudited Condensed Consolidated Balance Sheets included herein:


	March 31, 2021		December 31, 2020
Cash and cash equivalents	$	18,582	$	3,423
Restricted cash	264		264
Total cash, cash equivalents and restricted cash	$	18,846	$	3,687

Estimated Useful Lives of Property and Equipment

Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets once they are placed in service as follows:


Asset Description						Estimated Useful Life (years)
Equipment						3
Furniture and fixtures						5
Software						3
Leasehold improvements						Shorter of useful life or term of lease

BASIC AND DILUTED NET INCOME (LOSS) PER SHARE (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Schedule of number of shares of potentially dilutive common stock related to options and warrants that were excluded from the calculation of dilutive shares


	Three Months Ended March 31,
	2021	2020
Options	156,035	68,032
Restricted Stock Awards	10,369	9,341
Series A Convertible Preferred Stock	—	39,060
Series B Convertible Preferred Stock	—	126,374
Warrants	175,995	2,846,199
Total	342,399	3,089,006

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis


	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)		March 31, 2021
Assets
Cash equivalents:
Money market funds	$	17,900	$	—	$	—	$	17,900

Short-term investments:
U.S. government and agency securities	—		3,262		—		3,262
Long-term investments:
U.S. government and agency securities	—		886		—		886
Total assets	$	17,900	$	4,148	$	—	$	22,048


	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, 2020
Assets
Cash equivalents:
Money market funds	$	2,873	$	—	$	—	$	2,873

Short-term investments:
U.S. government and agency securities	—		6,279		—		6,279
Total assets	$	2,873	$	6,279	$	—	$	9,152

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table shows a reconciliation of the beginning and ending balances for the Level 3 warrant liability for the three months ending March 31, 2020.


	Three Months Ended March 31, 2020
Warrant liability, December 31, 2019	$	14,977
Recognized loss from mark-to-market adjustment prior to reclassification of warrant liability to equity	957
Reclassification from warrant liability to equity	(15,934)
Warrant liability, March 31, 2020	$	—

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of investment holdings

Investments consist of the following at March 31, 2021 and December 31, 2020:


	Accumulated Cost at March 31, 2021		Unrealized				Market Value at March 31, 2021
			Gain		(Loss)
Short-term investments
U.S. government and agency securities	$	3,261	$	1	$	—	$	3,262
Long-term investments
U.S. government and agency securities	$	886	$	—	$	—	$	886
Total	$	4,147	$	1	$	—	$	4,148


	Accumulated Cost at December 31, 2020		Unrealized				Market Value at December 31, 2020
			Gain		(Loss)
Short-term investments
U.S. government and agency securities	$	6,279	$	—	$	—	$	6,279
Total	$	6,279	$	—	$	—	$	6,279

ACCRUED EXPENSES (Tables)

3 Months Ended

Mar. 31, 2021

Payables and Accruals [Abstract]

Schedule of accrued expenses

Accrued expenses consisted of the following at:


	March 31, 2021		December 31, 2020
Employee compensation and benefits	$	330	$	620
Leased facilities	63		188
Professional services	249		235
Other	198		254
Total accrued expenses	$	840	$	1,297

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of option activity

A summary of option activity for the three months ended March 31, 2021 is as follows:


	Number of Shares	Weighted Average Exercise Price
Outstanding at December 31, 2020	339,108	$	32.39
Granted	131,343	$	16.46
Exercised	—	$	—
Forfeited	—	$	—
Expired	(11)	$	21,888.00
Outstanding at March 31, 2021	470,440	$	27.43

Options exercisable at March 31, 2021	107,034	$	80.78

Schedule of restricted stock units activity

A summary of RSU activity for the three months ended March 31, 2021 is as follows:


	Number of RSUs	Weighted Average Remaining Contractual Life (years)
Outstanding at December 31, 2020	8,500
Awarded	18,862
Common stock issued upon vesting	(8,500)
Forfeited	—
Outstanding at March 31, 2021	18,862	0.67

LEASES (Tables)

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Maturity analysis of lease liabilities

At March 31, 2021, the Company's lease liability related to its Woburn facility will mature as follows:


Year ended December 31,	Undiscounted Cash Flows
2021 (April to December)	$	531
2022	726
2023	749
2024	771
2025	793
Thereafter	747
Total undiscounted future lease payments	4,317
Amount of lease payments representing interest	(806)
Total lease liabilities	$	3,511
Short-term lease liability	$	470
Long-term lease liability	$	3,041

Quantitative disclosure of lease costs


	Three Months Ended March 31,
	2021		2020
Lease cost:
Operating lease cost	$	151	$	203
Short-term lease cost	156		183
Sublease income	(173)		(137)
Total lease cost, net	$	134	$	249

GEOGRAPHIC INFORMATION (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Schedule of the geographic distribution of revenues and long-lived assets from continuing operations

The geographic distribution of the Company’s grant revenues and long-lived assets are summarized in the tables below:


	U.S.		Canada		Eliminations		Total
Three Months Ended March 31, 2021
Grant revenue from external customers	$	157	$	39	$	—	$	196
Inter-geographic revenues	—		453		(453)		—
Revenues	$	157	$	492	$	(453)	$	196

Three Months Ended March 31, 2020
Grant revenue from external customers	$	179	$	—	$	—	$	179
Inter-geographic revenues	—		404		(404)		—
Revenues	$	179	$	404	$	(404)	$	179

Schedule of the geographic distribution of long-lived assets

The geographic distribution of the Company’s long-lived assets is summarized as follows:


	U.S.		Canada		Eliminations		Total
March 31, 2021	$	920	$	48	$	—	$	968
December 31, 2020	$	866	$	55	$	—	$	921

CAPITAL STOCK AND WARRANTS (Tables)

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Information with regard to outstanding warrants to purchase common stock

The following table summarizes information regarding outstanding warrants to purchase common stock as of March 31, 2021:


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	352,703	$	8.00	May 19, 2022
November 2019 Public Offering - Series B	395,528	$	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	2,361,726

Schedule of primary rights of convertible preferred stockholders, and common stock shares reserved for future issuance

The following shares of common stock were reserved for future issuance upon exercise of stock options, vesting of RSUs and conversion of warrants:


	March 31, 2021	December 31, 2020
Stock Options	470,440	339,108
RSUs	18,862	8,500

Warrants	2,361,726	2,843,699
Total number of common shares reserved for future issuance	2,851,028	3,191,307

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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+ Details

ACCOUNTING POLICIES - Additional Information (Details) $ in Thousands		3 Months Ended		12 Months Ended
	Jan. 15, 2020	Mar. 31, 2021 USD ($) segment	Mar. 31, 2020	Dec. 31, 2020 USD ($)
Concentration of credit risk
Reverse stock split, conversion ratio	0.025
Restricted cash \| $		$ 264		$ 264
Number of operating segments \| segment		1
Michigan State University \| Grant \| Sales
Concentration of credit risk
Receivables/sales (as a percent)		80.30%	100.00%
National Research Council Canada \| Grant \| Sales
Concentration of credit risk
Receivables/sales (as a percent)			19.70%
Government Grants
Concentration of credit risk
Receivables/sales (as a percent)		100.00%		100.00%
Equipment
Concentration of credit risk
Estimated useful life		3 years
Furniture and fixtures
Concentration of credit risk
Estimated useful life		5 years
Software
Concentration of credit risk
Estimated useful life		3 years

ACCOUNTING POLICIES - Schedule of Cash And Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 18,582	$ 3,423
Restricted cash	264	264
Total cash, cash equivalents and restricted cash	$ 18,846	$ 3,687	$ 4,549	$ 5,749

NATURE OF BUSINESS AND BASIS OF PRESENTATION (Details) $ in Thousands	Mar. 31, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unrestricted cash and cash equivalents and short-term investments	$ 22,730

BASIC AND DILUTED NET INCOME (LOSS) PER SHARE (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive securities
Antidilutive common stock excluded from the calculation of dilutive shares	342,399	3,089,006
Options
Antidilutive securities
Antidilutive common stock excluded from the calculation of dilutive shares	156,035	68,032
Restricted Stock Awards
Antidilutive securities
Antidilutive common stock excluded from the calculation of dilutive shares	10,369	9,341
Warrants
Antidilutive securities
Antidilutive common stock excluded from the calculation of dilutive shares	175,995	2,846,199
Series A Convertible Preferred Stock \| Convertible Preferred Stock
Antidilutive securities
Antidilutive common stock excluded from the calculation of dilutive shares	0	39,060
Series B Convertible Preferred Stock \| Convertible Preferred Stock
Antidilutive securities
Antidilutive common stock excluded from the calculation of dilutive shares	0	126,374

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 15, 2020 USD ($)	Mar. 31, 2021 USD ($) shares	Mar. 31, 2020 USD ($)	Jun. 30, 2020 USD ($)	Nov. 19, 2019 USD ($)
Fair Value Disclosures [Abstract]
Warrant liability	$ 15,934				$ 24,518
Gain (loss) for change in fair value of warrants	$ (957)	$ 0	$ (957)	$ 9,541
Reverse stock split, conversion ratio	0.025
Tepha
Equity Securities without Readily Determinable Fair Value [Line Items]
Investment owned (in shares) \| shares		648,149
Investment owned, percent (less than)		1.00%

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments		$ 6,279
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 22,048	9,152
Fair Value, Measurements, Recurring \| U.S. government and agency securities \| Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	3,262	6,279
Fair Value, Measurements, Recurring \| U.S. government and agency securities \| Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	886
Fair Value, Measurements, Recurring \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	17,900	2,873
Fair Value, Measurements, Recurring \| Quoted prices in active markets for identical assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	17,900	2,873
Fair Value, Measurements, Recurring \| Quoted prices in active markets for identical assets (Level 1) \| U.S. government and agency securities \| Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring \| Quoted prices in active markets for identical assets (Level 1) \| U.S. government and agency securities \| Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0
Fair Value, Measurements, Recurring \| Quoted prices in active markets for identical assets (Level 1) \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	17,900	2,873
Fair Value, Measurements, Recurring \| Significant other observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	4,148	6,279
Fair Value, Measurements, Recurring \| Significant other observable inputs (Level 2) \| U.S. government and agency securities \| Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	3,262	6,279
Fair Value, Measurements, Recurring \| Significant other observable inputs (Level 2) \| U.S. government and agency securities \| Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	886
Fair Value, Measurements, Recurring \| Significant other observable inputs (Level 2) \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Fair Value, Measurements, Recurring \| Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Fair Value, Measurements, Recurring \| Significant unobservable inputs (Level 3) \| U.S. government and agency securities \| Short-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring \| Significant unobservable inputs (Level 3) \| U.S. government and agency securities \| Long-term Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0
Fair Value, Measurements, Recurring \| Significant unobservable inputs (Level 3) \| Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Level 3 Rollforward of Warrant Liability (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)
Fair Value Disclosures [Abstract]
Warrant liability, beginning of year	$ 14,977
Recognized loss from mark-to-market adjustment prior to reclassification of warrant liability to equity	957
Reclassification from warrant liability to equity	(15,934)
Warrant liability, end of year	$ 0

INVESTMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Accumulated Cost		$ 6,279
Unrealized Gain		0
Unrealized (Loss)		0
Market Value		6,279
Long-term investments	$ 886	0
Government securities
Debt Securities, Available-for-sale [Line Items]
Accumulated Cost	4,147
Unrealized Gain	1
Unrealized (Loss)	0
Market Value	4,148
Government securities \| Short-term Investments
Debt Securities, Available-for-sale [Line Items]
Accumulated Cost	3,261	6,279
Unrealized Gain	1	0
Unrealized (Loss)	0	0
Market Value	3,262	$ 6,279
Government securities \| Long-term Investments
Debt Securities, Available-for-sale [Line Items]
Accumulated Cost	886
Unrealized Gain	0
Unrealized (Loss)	0
Market Value	$ 886

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 330	$ 620
Leased facilities	63	188
Professional services	249	235
Other	198	254
Total accrued expenses	$ 840	$ 1,297

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Jan. 01, 2021	Mar. 31, 2021	Mar. 31, 2020
Stock-based compensation
Stock-based compensation		$ 324	$ 137
Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	166,702
Share-based Compensation Arrangement by Share-based Payment Award, Additional Shares Authorized, Percent	5.00%
Taxes paid on employees' behalf related to vesting of stock awards		(83)	$ 0
Employee stock option
Stock-based compensation
Stock-based compensation expense, net of estimated forfeitures, related to unvested awards not yet recognized		$ 3,860
Weighted average remaining recognition period (years)		3 years 2 months 8 days
Options
Number of Shares
Outstanding at the beginning of the period (in shares)	339,108	339,108
Granted (in shares)		131,343
Exercised (in shares)		0
Forfeited (in shares)		0
Expired (in shares)		(11)
Outstanding at the end of the period (in shares)		470,440
Options exercisable at the end of the period (in shares)		107,034
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 32.39	$ 32.39
Granted (in dollars per share)		16.46
Exercised (in dollars per share)		0
Forfeited (in dollars per share)		0
Expired (in dollars per share)		21,888.00
Outstanding at the end of the period (in dollars per share)		27.43
Options exercisable at the end of the period (in dollars per share)		$ 80.78
Restricted Stock Awards
Weighted Average Exercise Price
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period		8,500
Shares withheld for employee taxes (in shares)		2,945
Taxes paid on employees' behalf related to vesting of stock awards		$ 67

STOCK-BASED COMPENSATION - RESTRICTED STOCK UNIT ACTIVITY TABLE (Details) - Restricted Stock Awards	3 Months Ended
	Mar. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding (in shares)	8,500
Awarded (in shares)	18,862
Common stock issued upon vesting (in shares)	(8,500)
Forfeited (in shares)	0
Outstanding (in shares)	18,862
Weighted average remaining contractual life	8 months 1 day

LEASES - Narrative (Details) $ in Thousands	1 Months Ended
LEASES - Narrative (Details) $ in Thousands	Oct. 31, 2016 USD ($) ft²	Mar. 31, 2021 USD ($) ft²	Feb. 29, 2020 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Leased area (sq ft)		22,213
Undiscounted future lease payments \| $		$ 4,317
19 Presidential Way
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Letter of credit \| $			$ 229
Subleased area (in sqft)	9,874
650 Suffolk Street
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Leased area (sq ft)		13,702
410 Downey Road and 110 Gymnasium Place
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Leased area (sq ft)		7,000
CJ CheilJedang Corporation \| 19 Presidential Way
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Letter of credit \| $	$ 103

LEASES - Maturity Analysis of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2021 (April to December)	$ 531
2021	726
2022	749
2023	771
2024	793
Thereafter	747
Total undiscounted future lease payments	4,317
Amount of lease payments representing interest	(806)
Total lease liabilities	3,511
Short-term lease liability	470	$ 457
Long-term lease liability	$ 3,041	$ 3,163

LEASES - Quantitative Disclosure of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Lease cost:
Operating lease cost	$ 151	$ 203
Short-term lease cost	156	183
Sublease income	(173)	(137)
Total lease cost, net	$ 134	$ 249
Other information as of:
Weighted-average remaining lease term	5 years 8 months 12 days		5 years 10 months 24 days
Weighted-average discount rate	7.25%		7.25%

COMMITMENTS AND CONTINGENCIES (Details) - Collaborative Arrangement - USD ($) $ in Thousands	Nov. 12, 2020	Mar. 31, 2021
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative agreement, quarterly research funding and option fees payable	$ 31
Collaborative agreement, term	2 years
Collaborative agreement, research funding and option fees payable	$ 250	$ 219
Collaborative agreement, term of option	2 years

GEOGRAPHIC INFORMATION - Distribution of Revenues and Long-Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Geographic Information
Revenue	$ 196	$ 179
U.S.
Geographic Information
Revenue	157	179
Canada
Geographic Information
Revenue	492	404
Operating segments
Geographic Information
Revenue	196	179
Operating segments \| U.S.
Geographic Information
Revenue	157	179
Operating segments \| Canada
Geographic Information
Revenue	39	0
Eliminations
Geographic Information
Revenue	(453)	(404)
Eliminations \| Canada
Geographic Information
Revenue	$ 453	$ 404

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

GEOGRAPHIC INFORMATION - Narrative (Details)	3 Months Ended
GEOGRAPHIC INFORMATION - Narrative (Details)	Mar. 31, 2021	Mar. 31, 2020
Grant \| Michigan State University \| Sales
Concentration risk
Concentration risk (as a percent)	80.30%	100.00%

GEOGRAPHIC INFORMATION - Schedule of Geographic Distribution (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Geographic Information
Long-lived assets	$ 968	$ 921
Reportable Geographical Components \| U.S.
Geographic Information
Long-lived assets	920	866
Reportable Geographical Components \| Canada
Geographic Information
Long-lived assets	48	55
Eliminations
Geographic Information
Long-lived assets	$ 0	$ 0

CAPITAL STOCK AND WARRANTS - Narrative (Details) $ / shares in Units, $ in Thousands					1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 03, 2021 USD ($) $ / shares shares	Aug. 26, 2020 USD ($) $ / shares shares	Jan. 15, 2020 USD ($) shares	Nov. 19, 2019 USD ($) $ / shares shares	Feb. 29, 2020 USD ($) shares	Mar. 31, 2021 USD ($) $ / shares shares	Mar. 31, 2020 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2020 $ / shares shares	Apr. 30, 2020 shares
Class of Stock [Line Items]
Reverse stock split, conversion ratio			0.025
Common stock, authorized (in shares)			60,000,000			60,000,000			60,000,000
Gross proceeds from transaction \| $				$ 11,500
Preferred stock, par value per share (in dollars per share) \| $ / shares						$ 0.01			$ 0.01
Issuance of preferred stock in connection with private offering (in shares)				5,750
Number of securities called by warrants (in shares)				2,875,000		2,361,726
Warrant liability \| $			$ 15,934	$ 24,518
Gain (loss) for change in fair value of warrants \| $			$ (957)			$ 0	$ (957)	$ 9,541
Preferred stock, authorized (in shares)						5,000,000			5,000,000
Accrued warrant obligation - up to \| $					$ 3,856
Common Stock
Class of Stock [Line Items]
Cumulative issuances (in shares)										313,000
Common stock issued upon conversion (in shares)			718,750
Common stock incorrectly issued in connection with warrant exercises - up to (in shares)					481,973
Series B Warrants
Class of Stock [Line Items]
Exercise price of warrants (in dollars per share) \| $ / shares				$ 8.00
Class B Units \| Series A Warrants
Class of Stock [Line Items]
Number of securities called by each warrant or right				125
Series A Convertible Preferred Stock
Class of Stock [Line Items]
Cumulative conversions (in shares)						2,504
Public and private offerings
Class of Stock [Line Items]
Issuance costs \| $				$ 1,254
Public offering
Class of Stock [Line Items]
Issuance costs \| $	$ 747	$ 425
Common stock issued in offering (in shares)	1,040,000	835,000
Sale of Stock, Gross Consideration Received Per Transaction \| $		$ 4,045
Common stock price (in dollars per share) \| $ / shares	$ 12.25	$ 4.25
Sale of Stock, Consideration Received on Transaction \| $	$ 12,740
Public offering \| Class B Units
Class of Stock [Line Items]
Common stock issued in offering (in shares)				2,504
Over-allotment option
Class of Stock [Line Items]
Common stock issued in offering (in shares)		116,835
Private placement / registered direct offering
Class of Stock [Line Items]
Common stock issued in offering (in shares)		396,450
Sale of Stock, Gross Consideration Received Per Transaction \| $		$ 1,685
Common stock price (in dollars per share) \| $ / shares		$ 4.25

CAPITAL STOCK AND WARRANTS - Schedule Of Warrants Issuance (Details) - $ / shares	Mar. 31, 2021	Nov. 19, 2019
Class of Stock [Line Items]
Number of Shares Issuable Upon Exercise of Outstanding Warrants (in shares)	2,361,726	2,875,000
Warrants - expiration January 2024
Class of Stock [Line Items]
Number of Shares Issuable Upon Exercise of Outstanding Warrants (in shares)	14,270
Exercise Price (in dollars per share)	$ 201.60
Warrants - expiration September 2024
Class of Stock [Line Items]
Number of Shares Issuable Upon Exercise of Outstanding Warrants (in shares)	750
Exercise Price (in dollars per share)	$ 116.00
Public offering \| Series A Warrants - expiration May 2022
Class of Stock [Line Items]
Number of Shares Issuable Upon Exercise of Outstanding Warrants (in shares)	352,703
Exercise Price (in dollars per share)	$ 8.00
Public offering \| Series B Warrants - expiration May 2027
Class of Stock [Line Items]
Number of Shares Issuable Upon Exercise of Outstanding Warrants (in shares)	395,528
Exercise Price (in dollars per share)	$ 8.00
Public offering \| Series A Warrants - expiration December 2022
Class of Stock [Line Items]
Number of Shares Issuable Upon Exercise of Outstanding Warrants (in shares)	160,975
Exercise Price (in dollars per share)	$ 90.00
Private offering \| Series A Warrants - expiration May 2022
Class of Stock [Line Items]
Number of Shares Issuable Upon Exercise of Outstanding Warrants (in shares)	718,750
Exercise Price (in dollars per share)	$ 8.00
Private offering \| Series B Warrants - expiration May 2027
Class of Stock [Line Items]
Number of Shares Issuable Upon Exercise of Outstanding Warrants (in shares)	718,750
Exercise Price (in dollars per share)	$ 8.00

CAPITAL STOCK AND WARRANTS - Schedule of Common Stock Reserved For Future Issuance (Details) - shares	Mar. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Total number of common shares reserved for future issuance	2,851,028	3,191,307
Options
Class of Stock [Line Items]
Total number of common shares reserved for future issuance	470,440	339,108
Restricted Stock Awards
Class of Stock [Line Items]
Total number of common shares reserved for future issuance	18,862	8,500
Warrants
Class of Stock [Line Items]
Total number of common shares reserved for future issuance	2,361,726	2,843,699