PhaseBio Pharmaceuticals Inc

2019 Q3 Form 10-Q Financial Statement

#000156459019043372 Filed on November 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $81.80M $24.30M $8.700M
YoY Change 236.63%
Cash & Equivalents $81.77M $24.34M $8.734M
Short-Term Investments
Other Short-Term Assets $1.000M $200.0K $200.0K
YoY Change 400.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables $583.0K $411.0K
Total Short-Term Assets $83.37M $24.97M $9.000M
YoY Change 233.9%
LONG-TERM ASSETS
Property, Plant & Equipment $1.022M $251.0K $300.0K
YoY Change 307.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $32.00K $51.00K $700.0K
YoY Change -37.25%
Total Long-Term Assets $2.834M $2.520M $900.0K
YoY Change 12.46%
TOTAL ASSETS
Total Short-Term Assets $83.37M $24.97M $9.000M
Total Long-Term Assets $2.834M $2.520M $900.0K
Total Assets $86.20M $27.49M $9.900M
YoY Change 213.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.659M $1.576M $600.0K
YoY Change 5.27%
Accrued Expenses $2.300M $2.987M $2.400M
YoY Change -23.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $14.10M
YoY Change
Long-Term Debt Due $1.990M $3.125M $2.900M
YoY Change -36.32%
Total Short-Term Liabilities $5.962M $7.688M $23.30M
YoY Change -22.45%
LONG-TERM LIABILITIES
Long-Term Debt $7.740M $4.375M $5.300M
YoY Change 76.91%
Other Long-Term Liabilities $120.0K $0.00 $0.00
YoY Change
Total Long-Term Liabilities $7.860M $4.375M $5.300M
YoY Change 79.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.962M $7.688M $23.30M
Total Long-Term Liabilities $7.860M $4.375M $5.300M
Total Liabilities $15.40M $18.05M $28.60M
YoY Change -14.7%
SHAREHOLDERS EQUITY
Retained Earnings -$150.8M -$118.0M
YoY Change 27.77%
Common Stock $29.00K $1.000K
YoY Change 2800.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $24.00K $24.00K
YoY Change 0.0%
Treasury Stock Shares $29.97K $29.97K
Shareholders Equity $70.80M -$116.2M -$108.4M
YoY Change
Total Liabilities & Shareholders Equity $86.20M $27.49M $9.900M
YoY Change 213.6%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
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<p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-style:italic;color:#231F20;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#231F20;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the Company&#8217;s condensed financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company&#8217;s condensed financial statements and accompanying notes. The most significant estimates in the Company&#8217;s condensed financial statements relate to the valuation of redeemable convertible preferred stock warrants prior to the IPO, the conversion option on the convertible notes prior to conversion and clinical trial accruals. Although these estimates are based on the Company&#8217;s knowledge of current events and actions it may undertake in the future, actual results could differ materially from those estimates and assumptions.</p>
us-gaap Concentration Risk Credit Risk
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<p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-style:italic;color:#231F20;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Concentrations of Credit Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;color:#231F20;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains certain deposit accounts and money market funds in federally insured financial institutions in excess of federally insured limits. The Company could experience losses on the money market funds in the future.</p>
us-gaap Stockholders Equity Reverse Stock Split
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AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1909000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1785000
CY2019Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
765000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1358000
CY2019Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
960000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
914000
CY2019Q3 us-gaap Interest Payable Current
InterestPayableCurrent
54000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
194000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
239000
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
295000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
305000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.064
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
72000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
372000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
377000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
363000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
272000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
776000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2232000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
416000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1816000
CY2019Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
200000
CY2018Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
400000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
300000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
491000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
96000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
999000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
262000

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