PARDES BIOSCIENCES, INC.

2023 Q3 Form 10-Q Financial Statement

#000095017023038555 Filed on August 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $153.2M
YoY Change -32.98%
Cash & Equivalents $100.3M
Short-Term Investments $52.93M
Other Short-Term Assets $4.113M
YoY Change -21.72%
Inventory
Prepaid Expenses $4.113M
Receivables
Other Receivables
Total Short-Term Assets $157.3M
YoY Change -32.73%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $157.3M
Total Long-Term Assets $0.00
Total Assets $157.3M
YoY Change -32.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.00K
YoY Change -99.17%
Accrued Expenses $1.911M
YoY Change -79.96%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.925M
YoY Change -82.84%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.925M
Total Long-Term Liabilities $0.00
Total Liabilities $1.925M
YoY Change -82.84%
SHAREHOLDERS EQUITY
Retained Earnings -$176.7M
YoY Change 75.68%
Common Stock $332.1M
YoY Change 2.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $155.4M
YoY Change
Total Liabilities & Shareholders Equity $157.3M
YoY Change -32.73%

Cashflow Statement

Concept 2023 Q3 2023 Q2

Facts In Submission

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PARDES BIOSCIENCES, INC.
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:8.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the unaudited condensed financial statements in accordance with GAAP requires our management to make estimates and assumptions that affect the amounts reported on our unaudited condensed financial statements and accompanying notes. The amounts reported could differ under different estimates and assumptions. On an ongoing basis, we evaluate our estimates and judgments, which are based on historical and anticipated results and trends and on various other assumptions that management believes to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.</span></p>
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DebtSecuritiesAvailableForSaleAccruedInterestWriteoff
0
CY2023Q2 us-gaap Prepaid Insurance
PrepaidInsurance
2244000
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1582000
CY2023Q2 prds Prepaid Research And Development Costs
PrepaidResearchAndDevelopmentCosts
12000
CY2022Q4 prds Prepaid Research And Development Costs
PrepaidResearchAndDevelopmentCosts
495000
CY2023Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
1857000
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
985000
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
4113000
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3062000
CY2023Q2 prds Research And Development Accruals
ResearchAndDevelopmentAccruals
721000
CY2022Q4 prds Research And Development Accruals
ResearchAndDevelopmentAccruals
10784000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
674000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3878000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
516000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
834000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1911000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
15496000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
61716745
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
61734343
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1398000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3888000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3736000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5415000
CY2023Q2 prds Estimated Workforce Reduction Percentage
EstimatedWorkforceReductionPercentage
0.89
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
0
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
1125000
CY2023Q1 us-gaap Restructuring Reserve
RestructuringReserve
1125000
CY2023Q2 us-gaap Restructuring Charges
RestructuringCharges
4093000
CY2023Q2 prds Contract Termination Fees Related To Restructuring Chagres
ContractTerminationFeesRelatedToRestructuringChagres
88000
CY2023Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
4720000
CY2023Q2 us-gaap Restructuring Reserve
RestructuringReserve
586000

Files In Submission

Name View Source Status
0000950170-23-038555-index-headers.html Edgar Link pending
0000950170-23-038555-index.html Edgar Link pending
0000950170-23-038555.txt Edgar Link pending
0000950170-23-038555-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
prds-20230630.htm Edgar Link pending
prds-20230630.xsd Edgar Link pending
prds-ex31_1.htm Edgar Link pending
prds-ex31_2.htm Edgar Link pending
prds-ex32.htm Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
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R2.htm Edgar Link pending
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R3.htm Edgar Link pending
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R35.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
prds-20230630_cal.xml Edgar Link unprocessable
prds-20230630_def.xml Edgar Link unprocessable
prds-20230630_lab.xml Edgar Link unprocessable
prds-20230630_htm.xml Edgar Link completed
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
prds-20230630_pre.xml Edgar Link unprocessable