ChemoCentryx, Inc.

2016 Q3 Form 10-Q Financial Statement

#000119312516676454 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $121.6M $125.7M $70.40M
YoY Change 65.66% 78.56% -29.53%
Cash & Equivalents $13.87M $21.93M $11.57M
Short-Term Investments $107.7M $103.8M $58.90M
Other Short-Term Assets $1.000M $1.200M $900.0K
YoY Change 25.0% 33.33% 0.0%
Inventory
Prepaid Expenses
Receivables $120.0K $175.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $122.7M $127.0M $71.36M
YoY Change 65.39% 78.03% -29.21%
LONG-TERM ASSETS
Property, Plant & Equipment $778.0K $858.0K $1.067M
YoY Change -23.05% -19.59% -14.02%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.00M $14.10M $23.70M
YoY Change -15.97% -40.51% -28.83%
Other Assets $285.0K $230.0K $169.0K
YoY Change 73.78% 36.09% -7.14%
Total Long-Term Assets $11.08M $15.23M $24.96M
YoY Change -14.94% -38.97% -28.17%
TOTAL ASSETS
Total Short-Term Assets $122.7M $127.0M $71.36M
Total Long-Term Assets $11.08M $15.23M $24.96M
Total Assets $133.7M $142.3M $96.32M
YoY Change 53.39% 47.71% -28.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $840.0K $513.0K $1.028M
YoY Change 36.59% -50.1% 48.99%
Accrued Expenses $7.188M $6.720M $4.213M
YoY Change 46.13% 59.51% -40.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.19M $22.95M $5.241M
YoY Change 373.33% 337.95% -33.87%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $116.0K $131.0K $173.0K
YoY Change -28.83% -24.28% -9.9%
Total Long-Term Liabilities $116.0K $131.0K $173.0K
YoY Change -28.83% -24.28% -9.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.19M $22.95M $5.241M
Total Long-Term Liabilities $116.0K $131.0K $173.0K
Total Liabilities $79.39M $82.74M $5.414M
YoY Change 1293.59% 1428.33% -33.3%
SHAREHOLDERS EQUITY
Retained Earnings -$299.4M -$292.3M -$243.9M
YoY Change 17.17% 19.87% 24.01%
Common Stock $353.8M $351.8M $334.8M
YoY Change 4.98% 5.08% 778469.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $54.35M $59.53M $90.91M
YoY Change
Total Liabilities & Shareholders Equity $133.7M $142.3M $96.32M
YoY Change 53.39% 47.71% -28.94%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2

Facts In Submission

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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>Concentration of Credit Risk</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Company invests in a variety of financial instruments and, by its policy, limits the amount of credit exposure with any one issuer, industry or geographic area.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Accounts receivable are typically unsecured and are concentrated in the pharmaceutical industry and government sector. Accordingly, the Company may be exposed to credit risk generally associated with pharmaceutical companies and government funded entities. The Company has not historically experienced any significant losses. At June&#xA0;30, 2016, accounts receivable consisted of amounts due from the U.S. Food and Drug Administration under an Orphan Products Development grant and the Company believes that the associated credit risks are not significant.</p> </div>
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<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; WORD-SPACING: 0px; BORDER-COLLAPSE: collapse; TEXT-TRANSFORM: none; WIDOWS: 1; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="3%" align="left"><b>1.</b></td> <td style="FONT-SIZE: 8pt" valign="top" width="1%">&#xA0;</td> <td valign="top" align="left"><b>Description of Business</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> ChemoCentryx, Inc. (the Company) commenced operations in 1997. The Company is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing orally-administered therapeutics to treat orphan and rare diseases, autoimmune diseases, inflammatory disorders and cancer. The Company&#x2019;s principal operations are in the United States and it operates in one segment.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>Unaudited Interim Financial Information</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The financial information filed is unaudited. The Condensed Consolidated Financial Statements included in this report reflect all adjustments (consisting only of normal recurring adjustments) that the Company considers necessary for the fair statement of the results of operations for the interim periods covered and of the financial condition of the Company at the date of the interim balance sheet. The December 31, 2015 Condensed Consolidated Balance Sheet was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States of America (GAAP). The results for interim periods are not necessarily indicative of the results for the entire year or any other interim period. The Condensed Consolidated Financial Statements should be read in conjunction with the Company&#x2019;s financial statements and the notes thereto included in the Company&#x2019;s annual report on Form 10-K for the year ended December 31, 2015 filed with the Securities and Exchange Commission (SEC) on March 14, 2016.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 18pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> &#xA0;</p> </div>
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us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates.&#xA0;On an ongoing basis, management evaluates its estimates including, but not limited to, those related to revenue recognition, the period of performance, identification of deliverables and evaluation of milestones with respect to collaborations.</p> </div>
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Shares Issued In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod
2033410 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y11M12D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.42
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
1750000 shares
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
41688000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.05
dei Trading Symbol
TradingSymbol
CCXI
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20307000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1706600 shares
us-gaap Revenue From Grants
RevenueFromGrants
175000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
114225 shares
us-gaap Share Based Compensation
ShareBasedCompensation
4641000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45031 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.51
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segment
ccxi Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Options Expired Or Forfeited
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantOptionsExpiredOrForfeited
114225 shares
ccxi Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Options Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantOptionsExercised
0 shares
ccxi Milestone Payments Received
MilestonePaymentsReceived
0
ccxi Available For Sale Securities Debt Maximum Maturities Period
AvailableForSaleSecuritiesDebtMaximumMaturitiesPeriod
Less than two years
ccxi Non Cash Interest Income Expense Net
NonCashInterestIncomeExpenseNet
124000
ccxi Non Refundable Upfront Payments Allocated For Development And Regulatory Activities
NonRefundableUpfrontPaymentsAllocatedForDevelopmentAndRegulatoryActivities
65500000
ccxi Creditable Upfront Fee For Ccx140 Agreement
CreditableUpfrontFeeForCCX140Agreement
12500000
ccxi Agreement Performance Period
AgreementPerformancePeriod
P4Y2M12D
CY2016Q2 ccxi Amount From Grant
AmountFromGrant
500000
CY2016Q2 ccxi Non Refundable Up Front Payment Received
NonRefundableUpFrontPaymentReceived
85000000
CY2016Q2 us-gaap Costs And Expenses
CostsAndExpenses
12939000
CY2016Q2 us-gaap Revenues
Revenues
2795000
CY2016Q2 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0
CY2016Q2 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
161000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-9983000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-9919000
CY2016Q2 ccxi Non Refundable Upfront Payment Received In Cash
NonRefundableUpfrontPaymentReceivedInCash
60000000
CY2016Q2 ccxi Non Refundable Upfront Payment Received In Equity Investment
NonRefundableUpfrontPaymentReceivedInEquityInvestment
25000000
CY2016Q2 ccxi Share Price Of Common Stock In Equity Investment
SharePriceOfCommonStockInEquityInvestment
7.50
CY2016Q2 ccxi Non Refundable Upfront Payment Received In Equity Investment Shares
NonRefundableUpfrontPaymentReceivedInEquityInvestmentShares
3333333 shares
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.28
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3576000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12075000
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
12178000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
100000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-12078000
CY2015Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
3000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-12178000
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
100000
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8602000
CY2015Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2400000
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
43842 shares
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.22
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3877000
CY2016Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
64000
CY2016Q2 us-gaap License And Services Revenue
LicenseAndServicesRevenue
2620000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-10144000
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
161000
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9062000
CY2016Q2 us-gaap Revenue From Grants
RevenueFromGrants
175000
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
2300000
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45785 shares

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ccxi-20160630.xml Edgar Link completed
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