$ACET
Adicet Bio, Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023040631 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.630M $6.528M $6.529M
YoY Change 3.35% -0.02% 29.93%
% of Gross Profit
Research & Development $26.17M $28.36M $16.18M
YoY Change 57.92% 75.31% 52.39%
% of Gross Profit
Depreciation & Amortization $1.650M $1.510M $405.0K
YoY Change 117.39% 272.84% -10.99%
% of Gross Profit
Operating Expenses $52.26M $34.89M $22.71M
YoY Change 127.37% 53.65% 45.18%
Operating Profit -$52.26M -$34.89M -$22.71M
YoY Change 127.37% 53.65% 109.73%
Interest Expense $1.000K $4.000K $307.0K
YoY Change -94.44% -98.7% 501.96%
% of Operating Profit
Other Income/Expense, Net -$142.0K -$124.0K -$138.0K
YoY Change -34.56% -10.14% 122.58%
Pretax Income -$49.89M -$32.40M -$22.54M
YoY Change 126.79% 43.77% 106.18%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$49.89M -$32.40M -$22.54M
YoY Change 126.79% 43.77% 107.65%
Net Earnings / Revenue
Basic Earnings Per Share -$1.16 -$0.75 -$0.56
Diluted Earnings Per Share -$1.16 -$0.75 -$562.4K
COMMON SHARES
Basic Shares Outstanding 43.07M 42.96M 40.00M
Diluted Shares Outstanding 42.98M 42.96M 40.08M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $183.3M $205.5M $260.6M
YoY Change -35.16% -21.17% 24.87%
Cash & Equivalents $183.3M $205.5M $260.6M
Short-Term Investments
Other Short-Term Assets $378.0K $489.0K $3.446M
YoY Change -0.53% -85.81% 823.86%
Inventory
Prepaid Expenses $555.0K $389.0K
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $185.9M $208.7M $264.1M
YoY Change -34.95% -20.99% 22.09%
LONG-TERM ASSETS
Property, Plant & Equipment $28.27M $29.58M $44.57M
YoY Change 5.37% -33.63% 291.09%
Goodwill $0.00 $19.46M
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $916.0K $1.005M $1.789M
YoY Change -28.49% -43.82% -10.64%
Total Long-Term Assets $47.37M $68.98M $65.82M
YoY Change -30.91% 4.8% 25.42%
TOTAL ASSETS
Total Short-Term Assets $185.9M $208.7M $264.1M
Total Long-Term Assets $47.37M $68.98M $65.82M
Total Assets $233.3M $277.6M $329.9M
YoY Change -34.16% -15.84% 22.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.066M $3.121M $4.146M
YoY Change -11.03% -24.72% 79.02%
Accrued Expenses $15.70M $15.72M $12.25M
YoY Change 24.1% 28.29% 123.41%
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 $19.77M $18.84M $16.40M
YoY Change 14.79% 14.89% -21.72%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $143.0K $130.0K $20.24M
YoY Change 23.28% -99.36% 3.84%
Total Long-Term Liabilities $143.0K $130.0K $20.24M
YoY Change 23.28% -99.36% 3.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.77M $18.84M $16.40M
Total Long-Term Liabilities $143.0K $130.0K $20.24M
Total Liabilities $38.58M $38.57M $36.64M
YoY Change 5.28% 5.28% -9.4%
SHAREHOLDERS EQUITY
Retained Earnings -$351.3M -$301.4M
YoY Change 68.69%
Common Stock $546.0M $540.5M
YoY Change 3.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $194.7M $239.1M $293.3M
YoY Change
Total Liabilities & Shareholders Equity $233.3M $277.6M $329.9M
YoY Change -34.16% -15.84% 22.74%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$49.89M -$32.40M -$22.54M
YoY Change 126.79% 43.77% 107.65%
Depreciation, Depletion And Amortization $1.650M $1.510M $405.0K
YoY Change 117.39% 272.84% -10.99%
Cash From Operating Activities -$21.24M -$24.90M -$14.71M
YoY Change 38.57% 69.32% 15.12%
INVESTING ACTIVITIES
Capital Expenditures $910.0K $1.507M -$2.849M
YoY Change -118.91% -152.9% 33.76%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$910.0K -$1.507M -$2.849M
YoY Change -81.09% -47.1% 649.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -60.00K 226.0K 163.0K
YoY Change -100.14% 38.65% -643.33%
NET CHANGE
Cash From Operating Activities -21.24M -24.90M -14.71M
Cash From Investing Activities -910.0K -1.507M -2.849M
Cash From Financing Activities -60.00K 226.0K 163.0K
Net Change In Cash -22.21M -26.18M -17.39M
YoY Change -200.79% 50.54% 31.91%
FREE CASH FLOW
Cash From Operating Activities -$21.24M -$24.90M -$14.71M
Capital Expenditures $910.0K $1.507M -$2.849M
Free Cash Flow -$22.15M -$26.41M -$11.86M
YoY Change 110.61% 122.72% 11.39%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;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;">Concentration of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;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:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents. The Company’s cash and cash equivalents are held at two financial institutions in the U.S. and one financial institution in Israel and such amounts may, at times, exceed insured limits. The Company invests its cash equivalents in treasury securities and money market funds. The Company limits its credit risk associated with cash equivalents by placing them with banks and institutions it believes are highly creditworthy and in highly rated investments. The Company has not experienced any losses on its deposits of cash and cash equivalents to date.</span></p>
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CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2022Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.44
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
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424242
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.41
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
20000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3181499
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.92
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
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CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y4M24D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
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0.016
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
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42957242
us-gaap Weighted Average Limited Partnership Units Outstanding Diluted
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6285004

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