$ACET
Adicet Bio, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024095745 Filed on August 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.900M $6.948M
YoY Change 4.07% 6.43%
% of Gross Profit
Research & Development $26.25M $25.90M
YoY Change 0.33% -8.68%
% of Gross Profit
Depreciation & Amortization $1.592M $1.602M
YoY Change -3.52% 6.09%
% of Gross Profit
Operating Expenses $33.15M $32.85M
YoY Change -36.56% -5.85%
Operating Profit -$33.15M -$32.85M
YoY Change -36.56% -5.85%
Interest Expense $1.000K $0.00
YoY Change 0.0% -100.0%
% of Operating Profit
Other Income/Expense, Net -$54.00K -$51.00K
YoY Change -61.97% -58.87%
Pretax Income -$30.48M -$29.90M
YoY Change -38.9% -7.72%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$30.48M -$29.90M
YoY Change -38.9% -7.72%
Net Earnings / Revenue
Basic Earnings Per Share -$0.34 -$0.33
Diluted Earnings Per Share -$0.34 -$0.33
COMMON SHARES
Basic Shares Outstanding 82.40M 82.17M
Diluted Shares Outstanding 90.85M 90.63M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $202.1M $224.1M
YoY Change 10.24% 9.06%
Cash & Equivalents $105.5M $224.1M
Short-Term Investments $96.58M
Other Short-Term Assets $543.0K $409.0K
YoY Change 43.65% -16.36%
Inventory
Prepaid Expenses $544.0K $551.0K
Receivables
Other Receivables
Total Short-Term Assets $206.3M $228.4M
YoY Change 10.99% 9.44%
LONG-TERM ASSETS
Property, Plant & Equipment $24.09M $24.04M
YoY Change -14.8% -18.72%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $508.0K $593.0K
YoY Change -44.54% -41.0%
Total Long-Term Assets $39.65M $40.49M
YoY Change -16.31% -41.3%
TOTAL ASSETS
Total Short-Term Assets $206.3M $228.4M
Total Long-Term Assets $39.65M $40.49M
Total Assets $246.0M $268.8M
YoY Change 5.45% -3.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.500M $1.899M
YoY Change -38.51% -39.15%
Accrued Expenses $16.89M $16.00M
YoY Change 7.61% 1.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.39M $17.90M
YoY Change -1.89% -4.96%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $116.0K $116.0K
YoY Change -18.88% -10.77%
Total Long-Term Liabilities $116.0K $116.0K
YoY Change -18.88% -10.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.39M $17.90M
Total Long-Term Liabilities $116.0K $116.0K
Total Liabilities $34.43M $33.73M
YoY Change -10.75% -12.55%
SHAREHOLDERS EQUITY
Retained Earnings -$469.2M -$438.7M
YoY Change 33.56% 45.55%
Common Stock $680.6M $673.8M
YoY Change 24.66% 24.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $211.5M $235.1M
YoY Change
Total Liabilities & Shareholders Equity $246.0M $268.8M
YoY Change 5.45% -3.17%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$30.48M -$29.90M
YoY Change -38.9% -7.72%
Depreciation, Depletion And Amortization $1.592M $1.602M
YoY Change -3.52% 6.09%
Cash From Operating Activities -$22.01M -$23.42M
YoY Change 3.61% -5.93%
INVESTING ACTIVITIES
Capital Expenditures $401.0K $302.0K
YoY Change -55.93% -79.96%
Acquisitions
YoY Change
Other Investing Activities -$96.18M
YoY Change
Cash From Investing Activities -$96.58M -$302.0K
YoY Change 10513.3% -79.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 204.0K
YoY Change -100.0% -9.73%
NET CHANGE
Cash From Operating Activities -22.01M -23.42M
Cash From Investing Activities -96.58M -302.0K
Cash From Financing Activities 0.000 204.0K
Net Change In Cash -118.6M -23.52M
YoY Change 433.94% -10.16%
FREE CASH FLOW
Cash From Operating Activities -$22.01M -$23.42M
Capital Expenditures $401.0K $302.0K
Free Cash Flow -$22.41M -$23.72M
YoY Change 1.16% -10.16%

Facts In Submission

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<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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. 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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