ChemoCentryx, Inc.

2016 Q4 Form 10-Q Financial Statement

#000119312516762922 Filed on November 08, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 Q3

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.8M $121.6M $73.40M
YoY Change 65.22% 65.66% -13.95%
Cash & Equivalents $12.02M $13.87M $14.57M
Short-Term Investments $105.7M $107.7M $58.80M
Other Short-Term Assets $700.0K $1.000M $800.0K
YoY Change -12.5% 25.0% 0.0%
Inventory
Prepaid Expenses
Receivables $30.21M $120.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $148.7M $122.7M $74.17M
YoY Change 106.41% 65.39% -13.82%
LONG-TERM ASSETS
Property, Plant & Equipment $905.0K $778.0K $1.011M
YoY Change -4.64% -23.05% -15.26%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $6.000M $10.00M $11.90M
YoY Change 20.0% -15.97% -69.8%
Other Assets $279.0K $285.0K $164.0K
YoY Change 74.38% 73.78% -18.0%
Total Long-Term Assets $7.181M $11.08M $13.03M
YoY Change 17.34% -14.94% -68.04%
TOTAL ASSETS
Total Short-Term Assets $148.7M $122.7M $74.17M
Total Long-Term Assets $7.181M $11.08M $13.03M
Total Assets $155.9M $133.7M $87.19M
YoY Change 99.44% 53.39% -31.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $671.0K $840.0K $615.0K
YoY Change -0.59% 36.59% -40.29%
Accrued Expenses $8.645M $7.188M $4.919M
YoY Change 79.39% 46.13% -30.23%
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 $38.34M $26.19M $5.534M
YoY Change 597.76% 373.33% -31.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $101.0K $116.0K $163.0K
YoY Change -34.42% -28.83% -13.76%
Total Long-Term Liabilities $101.0K $116.0K $163.0K
YoY Change -34.42% -28.83% -13.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.34M $26.19M $5.534M
Total Long-Term Liabilities $101.0K $116.0K $163.0K
Total Liabilities $106.0M $79.39M $5.697M
YoY Change 1776.47% 1293.59% -31.49%
SHAREHOLDERS EQUITY
Retained Earnings -$307.1M -$299.4M -$255.5M
YoY Change 14.96% 17.17% 23.08%
Common Stock $357.0M $353.8M $337.0M
YoY Change 5.11% 4.98% 783600.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $49.89M $54.35M $81.50M
YoY Change
Total Liabilities & Shareholders Equity $155.9M $133.7M $87.19M
YoY Change 99.44% 53.39% -31.25%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3

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 September 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> </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. 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
2070910 shares
dei Trading Symbol
TradingSymbol
CCXI
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
28696000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M16D
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.45
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
62574000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.56
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1744100 shares
us-gaap Revenue From Grants
RevenueFromGrants
295000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
146670 shares
us-gaap Share Based Compensation
ShareBasedCompensation
6488000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
45942 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.09
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
146670 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 Share Based Compensation Arrangement By Share Based Payment Award Options Shares Authorized Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsSharesAuthorizedWeightedAverageExercisePrice
0
ccxi Share Based Compensation Arrangement By Share Based Payment Award Options Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAuthorized
0 shares
ccxi Available For Sale Securities Debt Maximum Maturities Period
AvailableForSaleSecuritiesDebtMaximumMaturitiesPeriod
Less than two years
ccxi Non Cash Interest Income Expense Net
NonCashInterestIncomeExpenseNet
-142000
ccxi Creditable Upfront Fee For Ccx140 Agreement
CreditableUpfrontFeeForCCX140Agreement
3100000
CY2016Q2 ccxi Amount From Grant
AmountFromGrant
500000
CY2016Q2 ccxi Non Refundable Up Front Payment Received
NonRefundableUpFrontPaymentReceived
85000000
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
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.26
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3811000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11614000
CY2015Q3 us-gaap Costs And Expenses
CostsAndExpenses
11742000
CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
95000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-11647000
CY2015Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
33000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-11742000
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.15
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3193000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7156000
CY2015Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
95000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7931000
CY2015Q3 us-gaap Share Based Compensation
ShareBasedCompensation
2100000
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
44070 shares
CY2016Q3 us-gaap Costs And Expenses
CostsAndExpenses
11582000
CY2016Q3 us-gaap Revenues
Revenues
4251000
CY2016Q3 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
259000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-7072000
CY2016Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-84000
CY2016Q3 us-gaap License And Services Revenue
LicenseAndServicesRevenue
4131000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-7331000
CY2016Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
259000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8389000
CY2016Q3 us-gaap Revenue From Grants
RevenueFromGrants
120000
CY2016Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1800000
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
47763 shares

Files In Submission

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0001193125-16-762922-index-headers.html Edgar Link pending
0001193125-16-762922-index.html Edgar Link pending
0001193125-16-762922.txt Edgar Link pending
0001193125-16-762922-xbrl.zip Edgar Link pending
ccxi-20160930.xml Edgar Link completed
ccxi-20160930.xsd Edgar Link pending
ccxi-20160930_cal.xml Edgar Link unprocessable
ccxi-20160930_def.xml Edgar Link unprocessable
ccxi-20160930_lab.xml Edgar Link unprocessable
ccxi-20160930_pre.xml Edgar Link unprocessable
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