Morphic Holding, Inc.

2024 Q3 Form 10-Q Financial Statement

#000167936324000046 Filed on July 25, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $628.4M
YoY Change -14.09%
Cash & Equivalents $50.77M
Short-Term Investments $577.6M
Other Short-Term Assets $11.13M
YoY Change -1.49%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $639.5M
YoY Change -13.89%
LONG-TERM ASSETS
Property, Plant & Equipment $2.485M
YoY Change -0.88%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $331.0K
YoY Change 68.88%
Total Long-Term Assets $6.592M
YoY Change 8.08%
TOTAL ASSETS
Total Short-Term Assets $639.5M
Total Long-Term Assets $6.592M
Total Assets $646.1M
YoY Change -13.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.046M
YoY Change 92.46%
Accrued Expenses $4.890M
YoY Change 396.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.51M
YoY Change 48.83%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $1.155M
YoY Change -27.81%
Total Long-Term Liabilities $1.155M
YoY Change -27.81%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.51M
Total Long-Term Liabilities $1.155M
Total Liabilities $27.66M
YoY Change 42.88%
SHAREHOLDERS EQUITY
Retained Earnings -$552.1M
YoY Change 48.31%
Common Stock $5.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $618.4M
YoY Change
Total Liabilities & Shareholders Equity $646.1M
YoY Change -13.71%

Cashflow Statement

Concept 2024 Q3 2024 Q2

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Entity Central Index Key
EntityCentralIndexKey
0001679363
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-38940
dei Entity Registrant Name
EntityRegistrantName
MORPHIC HOLDING, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-3878772
dei Entity Address Address Line1
EntityAddressAddressLine1
35 Gatehouse Drive
dei Entity Address Address Line2
EntityAddressAddressLine2
A2
dei Entity Address City Or Town
EntityAddressCityOrTown
Waltham
dei Entity Address State Or Province
EntityAddressStateOrProvince
MA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
02451
dei City Area Code
CityAreaCode
781
dei Local Phone Number
LocalPhoneNumber
996-0955
dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
dei Trading Symbol
TradingSymbol
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dei Security Exchange Name
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dei Entity Emerging Growth Company
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us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7372000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1028000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
434110000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7750000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
158004000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59137000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
59832000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51387000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
217836000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1910000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
246000 usd
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
14000 usd
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
70000 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 usd
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
99000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:109%">Use of Estimates and Summary of Significant Accounting Policies</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:109%">The preparation of financial statements in accordance with GAAP requires management to make estimates and judgments that may affect the reported amounts of assets and liabilities and related disclosures of contingent assets and liabilities at the date of the financial statements and the related reporting of revenues and expenses during the reporting period. Significant estimates of accounting reflected in these consolidated financial statements include, but are not limited to, estimates related to accrued research and development expenses. Actual results could differ from those estimates.</span></div>
CY2024Q2 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
0 usd
CY2023Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
0 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
578586000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
74000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1065000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
577595000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
643459000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2499000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
186000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
645772000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
4200000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
4400000 usd
CY2024Q2 morf Number Of Financial Institutions Located In Us Deposits With Deposits That May Exceed Fdic Insurance Limit
NumberOfFinancialInstitutionsLocatedInUSDepositsWithDepositsThatMayExceedFDICInsuranceLimit
3 institution
CY2024Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
616030 usd
morf Letters Of Credit Outstanding Term
LettersOfCreditOutstandingTerm
P1Y
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
50771000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
217276000 usd
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
616000 usd
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
560000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51387000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
217836000 usd
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5223000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8528000 usd
CY2024Q2 morf Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
7184000 usd
CY2023Q4 morf Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
5818000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2162000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1628000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4890000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1104000 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
19459000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
17078000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13174000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10315000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26549000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19891000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13174000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10315000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26549000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19891000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-57585000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-39013000 usd
us-gaap Net Income Loss
NetIncomeLoss
-102879000 usd
us-gaap Net Income Loss
NetIncomeLoss
-75148000 usd
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50095534 shares
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50095534 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42373407 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42373407 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50052283 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50052283 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41249157 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41249157 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.15
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.15
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.92
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.92
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.82
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.82
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9573176 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6983260 shares
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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morf-20240630_lab.xml Edgar Link unprocessable
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0001679363-24-000046-index.html Edgar Link pending
0001679363-24-000046.txt Edgar Link pending
0001679363-24-000046-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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morf-2024630x10qex311.htm Edgar Link pending
morf-2024630x10qex312.htm Edgar Link pending
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morf-20240630_cal.xml Edgar Link unprocessable
morf-20240630_def.xml Edgar Link unprocessable
morf-20240630_pre.xml Edgar Link unprocessable
morf-20240630_htm.xml Edgar Link completed
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FilingSummary.xml Edgar Link unprocessable