$ACET
Adicet Bio, Inc.

2019 Q1 Form 10-Q Financial Statement

#000156459019019433 Filed on May 15, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.840M $2.090M
YoY Change 35.89% 3383.33%
% of Gross Profit
Research & Development $8.852M $8.106M
YoY Change 9.2% 146.08%
% of Gross Profit
Depreciation & Amortization $30.00K $9.000K
YoY Change 233.33%
% of Gross Profit
Operating Expenses $11.69M $10.20M
YoY Change 14.62% 209.65%
Operating Profit -$11.69M -$10.20M
YoY Change 14.62% 203.84%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $631.0K $341.0K
YoY Change 85.04%
Pretax Income -$11.06M -$9.859M
YoY Change 12.18% 193.68%
Income Tax $9.000K $0.00
% Of Pretax Income
Net Earnings -$4.131M -$9.859M
YoY Change -58.1% 193.68%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$2.674M -$3.212M
COMMON SHARES
Basic Shares Outstanding 28.06M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $143.1M $135.7M
YoY Change 5.45%
Cash & Equivalents $7.181M $135.7M
Short-Term Investments $135.9M
Other Short-Term Assets $1.600M $154.0K
YoY Change 938.96%
Inventory
Prepaid Expenses $986.0K
Receivables
Other Receivables
Total Short-Term Assets $144.7M $136.8M
YoY Change 5.74%
LONG-TERM ASSETS
Property, Plant & Equipment $300.0K $316.0K
YoY Change -5.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $100.0K
YoY Change 0.0%
Total Long-Term Assets $400.0K $400.0K
YoY Change 0.0%
TOTAL ASSETS
Total Short-Term Assets $144.7M $136.8M
Total Long-Term Assets $400.0K $400.0K
Total Assets $145.1M $137.2M
YoY Change 5.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.400M $1.480M
YoY Change 129.73%
Accrued Expenses $1.200M $4.854M
YoY Change -75.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.600M $6.834M
YoY Change -32.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $28.00K
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $28.00K
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.600M $6.834M
Total Long-Term Liabilities $0.00 $28.00K
Total Liabilities $4.600M $6.862M
YoY Change -32.96%
SHAREHOLDERS EQUITY
Retained Earnings -$43.64M
YoY Change
Common Stock $222.9M $3.000K
YoY Change 7429300.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $140.5M $130.4M
YoY Change
Total Liabilities & Shareholders Equity $145.1M $137.2M
YoY Change 5.71%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$4.131M -$9.859M
YoY Change -58.1% 193.68%
Depreciation, Depletion And Amortization $30.00K $9.000K
YoY Change 233.33%
Cash From Operating Activities -$12.05M -$7.304M
YoY Change 64.96% 2418.62%
INVESTING ACTIVITIES
Capital Expenditures $24.00K $278.0K
YoY Change -91.37%
Acquisitions
YoY Change
Other Investing Activities -$34.60M
YoY Change
Cash From Investing Activities -$34.63M -$278.0K
YoY Change 12356.12%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 46.82M 89.94M
YoY Change -47.95% 30913.1%
NET CHANGE
Cash From Operating Activities -12.05M -7.304M
Cash From Investing Activities -34.63M -278.0K
Cash From Financing Activities 46.82M 89.94M
Net Change In Cash 139.0K 82.36M
YoY Change -99.83%
FREE CASH FLOW
Cash From Operating Activities -$12.05M -$7.304M
Capital Expenditures $24.00K $278.0K
Free Cash Flow -$12.07M -$7.582M
YoY Change 59.23% 2514.48%

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<p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates<font style="font-weight:normal;font-style:normal;"> </font></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:7.94%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of 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 the disclosure of contingent assets and liabilities, as of the date of the condensed consolidated financial statements, and the reported amounts of any expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to accrued liabilities, income taxes, and stock-based compensation expense. Management bases its estimates on historical experience, and on various other market-specific relevant assumptions that management believes to be reasonable, under the circumstances. Actual results may differ from those estimates or assumptions. </p>
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