TCR2 THERAPEUTICS INC.

2021 Q1 Form 10-Q Financial Statement

#000156459021027203 Filed on May 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $333.3M $126.1M
YoY Change 164.31% -21.99%
Cash & Equivalents $218.3M $31.09M
Short-Term Investments $115.0M $95.00M
Other Short-Term Assets $9.700M $6.800M
YoY Change 42.65% 74.36%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $343.0M $133.0M
YoY Change 157.89% -19.68%
LONG-TERM ASSETS
Property, Plant & Equipment $51.84M $5.220M
YoY Change 893.14% 169.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.50M
YoY Change -51.67%
Other Assets $1.400M $600.0K
YoY Change 133.33% 100.0%
Total Long-Term Assets $53.20M $20.30M
YoY Change 162.07% -37.1%
TOTAL ASSETS
Total Short-Term Assets $343.0M $133.0M
Total Long-Term Assets $53.20M $20.30M
Total Assets $396.2M $153.3M
YoY Change 158.45% -22.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.800M $3.200M
YoY Change 18.75% 13.07%
Accrued Expenses $4.577M $2.500M
YoY Change 83.08% -15.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.100M
YoY Change
Total Short-Term Liabilities $10.50M $6.100M
YoY Change 72.13% 13.87%
LONG-TERM LIABILITIES
Long-Term Debt $35.00M $0.00
YoY Change
Other Long-Term Liabilities $900.0K $600.0K
YoY Change 50.0% 31.87%
Total Long-Term Liabilities $35.90M $600.0K
YoY Change 5883.33% 31.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.50M $6.100M
Total Long-Term Liabilities $35.90M $600.0K
Total Liabilities $46.40M $6.700M
YoY Change 592.54% 15.28%
SHAREHOLDERS EQUITY
Retained Earnings -$198.1M
YoY Change 36.72%
Common Stock $345.2M
YoY Change 17257450.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $349.8M $146.6M
YoY Change
Total Liabilities & Shareholders Equity $396.2M $153.3M
YoY Change 158.44% -22.52%

Cashflow Statement

Concept 2021 Q1 2020 Q1

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2021Q1 us-gaap Use Of Estimates
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Arial;font-size:10pt;text-transform:none;font-variant: normal;">Use of estimates</p> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the accompanying unaudited consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited consolidated financial statements and reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these unaudited consolidated financial statements include, but are not limited to, the fair value of the royalty transfer agreement obligations, and the fair value of stock-based compensation awards granted under the Company’s equity-based compensation plans. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the unaudited consolidated financial statements, actual results may materially vary from these estimates. Estimates and assumptions are periodically reviewed and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;"> </p>
CY2021Q1 us-gaap Concentration Risk Credit Risk
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Arial;font-size:10pt;text-transform:none;font-variant: normal;">Concentrations of credit risk and of manufacturing risk</p> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:7.69%;text-indent:0%;font-family:Times New Roman;font-weight:bold;;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents and investments. The Company’s cash, cash equivalents and investments are held by financial institutions in the United States. Amounts on deposit may at times exceed federally insured limits. Management believes that the financial institutions are financially sound, and accordingly, minimal credit risk exists with respect to the financial institutions.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of March 31, 2021, the Company has manufacturing arrangements with vendors for the supply of materials for use in preclinical and clinical studies. If the Company were to experience any disruptions in the party’s ability or willingness to continue to provide manufacturing services, the Company may experience significant delays in its product development timelines and may incur substantial costs to secure alternative sources of manufacturing.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;"> </p>
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5084972
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.29
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2153958
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.96
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5084972
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
15.29
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
36200000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M6D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.010
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.007
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.763
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.715
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q1 us-gaap Share Price
SharePrice
15.84
CY2020Q1 us-gaap Share Price
SharePrice
5.92

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