$ACET
Adicet Bio, Inc.

2020 Q1 Form 10-K Financial Statement

#000156459020010474 Filed on March 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q4 2019
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.540M $3.330M $11.82M
YoY Change -10.56% 65.67% 36.81%
% of Gross Profit
Research & Development $7.033M $26.11M $23.69M
YoY Change -20.55% 500.23% 60.98%
% of Gross Profit
Depreciation & Amortization $30.00K $40.00K $100.0K
YoY Change 0.0% 100.0% 25.0%
% of Gross Profit
Operating Expenses $9.557M $29.44M $85.46M
YoY Change -18.25% 362.89% 269.22%
Operating Profit -$29.44M -$85.46M
YoY Change 362.83% 115.23%
Interest Expense $2.820M $2.820M
YoY Change
% of Operating Profit
Other Income/Expense, Net $70.00K -$2.270M $2.331M
YoY Change -88.91% -460.32% 9.95%
Pretax Income -$7.165M -$28.89M -$28.12M
YoY Change -35.22% 404.19% 184.38%
Income Tax -$2.679M $10.00K $19.00K
% Of Pretax Income
Net Earnings -$4.486M -$28.89M -$28.14M
YoY Change 8.59% 401.82% 202.59%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$1.351M -$6.641M -$16.89M
COMMON SHARES
Basic Shares Outstanding 36.45M 36.44M 2.148M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q4 2019
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.30M $62.40M $62.40M
YoY Change -46.68% -42.22% -42.22%
Cash & Equivalents $11.02M $10.61M $10.60M
Short-Term Investments $15.10M $51.79M $51.80M
Other Short-Term Assets $1.200M $179.0K $900.0K
YoY Change -25.0% 1093.33% -40.0%
Inventory
Prepaid Expenses $615.0K
Receivables
Other Receivables
Total Short-Term Assets $77.60M $93.25M $64.20M
YoY Change -46.37% -14.86% -41.37%
LONG-TERM ASSETS
Property, Plant & Equipment $400.0K $2.121M $2.100M
YoY Change 33.33% 560.75% 600.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.60M $10.60M
YoY Change
Other Assets $200.0K $410.0K $4.700M
YoY Change 100.0% 310.0% 4600.0%
Total Long-Term Assets $600.0K -$11.67M $17.40M
YoY Change 50.0% -2980.49% 4250.0%
TOTAL ASSETS
Total Short-Term Assets $77.60M $93.25M $64.20M
Total Long-Term Assets $600.0K -$11.67M $17.40M
Total Assets $78.20M $81.59M $81.60M
YoY Change -46.11% -25.79% -25.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.200M $1.052M $1.100M
YoY Change -64.71% -64.8% -63.33%
Accrued Expenses $1.400M $5.483M $2.800M
YoY Change 16.67% 101.06% 3.7%
Deferred Revenue $10.99M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.600M $14.87M $14.90M
YoY Change -43.48% 160.06% 161.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $15.00K $13.00M
YoY Change -21.05%
Total Long-Term Liabilities $0.00 $15.00K $13.00M
YoY Change -21.05%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.600M $14.87M $14.90M
Total Long-Term Liabilities $0.00 $15.00K $13.00M
Total Liabilities $2.600M $27.87M $27.90M
YoY Change -43.48% 385.96% 389.47%
SHAREHOLDERS EQUITY
Retained Earnings -$161.2M -$69.65M
YoY Change -2.45%
Common Stock $236.8M $9.262M
YoY Change 6.22% -94.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$64.53M -$60.37M $53.70M
YoY Change
Total Liabilities & Shareholders Equity $78.21M $81.59M $81.60M
YoY Change -46.09% -25.79% -25.75%

Cashflow Statement

Concept 2020 Q1 2019 Q4 2019
OPERATING ACTIVITIES
Net Income -$4.486M -$28.89M -$28.14M
YoY Change 8.59% 401.82% 202.59%
Depreciation, Depletion And Amortization $30.00K $40.00K $100.0K
YoY Change 0.0% 100.0% 25.0%
Cash From Operating Activities -$8.352M -$25.64M -$27.88M
YoY Change -30.68% 232.12% 53.37%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$30.00K $1.070M
YoY Change -100.0% 0.0% 22.15%
Acquisitions
YoY Change
Other Investing Activities $42.50M $36.00M $44.40M
YoY Change -222.83% -546.65% -144.25%
Cash From Investing Activities $4.445M $35.97M -$47.93M
YoY Change -112.84% -544.62% 198.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 42.00K -10.00K 76.95M
YoY Change -99.91% 596.59%
NET CHANGE
Cash From Operating Activities -8.352M -25.64M -27.88M
Cash From Investing Activities 4.445M 35.97M -47.93M
Cash From Financing Activities 42.00K -10.00K 76.95M
Net Change In Cash -3.865M 10.32M 1.132M
YoY Change -2880.58% -165.28% -104.88%
FREE CASH FLOW
Cash From Operating Activities -$8.352M -$25.64M -$27.88M
Capital Expenditures $0.00 -$30.00K $1.070M
Free Cash Flow -$8.352M -$25.61M -$28.95M
YoY Change -30.82% 233.03% 51.93%

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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;">Concentration of Credit Risk</p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:8.5%;font-size:10pt;font-family:Times New Roman;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 marketable securities. The Company&#8217;s cash, cash equivalents and marketable securities are held by financial institutions in the United States. Amounts on deposit may at times exceed federally insured limits. Management believes that the financial institution is financially sound, and accordingly, minimal credit risk exists with respect to the financial institution.</p>
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