$ACET
Adicet Bio, Inc.

2020 Q2 Form 10-Q Financial Statement

#000156459020034835 Filed on July 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q4 2019 Q2
Revenue $9.470M $0.00 $6.070M
YoY Change 56.01%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.400M $3.330M $1.380M
YoY Change 436.23% 65.67% -39.21%
% of Gross Profit
Research & Development $8.676M $26.11M $16.55M
YoY Change -47.59% 500.23% 39.75%
% of Gross Profit
Depreciation & Amortization $40.00K $40.00K $30.00K
YoY Change 33.33% 100.0% 50.0%
% of Gross Profit
Operating Expenses $16.10M $29.44M $19.17M
YoY Change -16.04% 362.89% 35.83%
Operating Profit -$8.630M -$29.44M -$19.17M
YoY Change -54.98% 362.83% 35.83%
Interest Expense $34.00K $2.820M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$20.00K -$2.270M $847.0K
YoY Change -102.36% -460.32% 62.26%
Pretax Income -$8.455M -$28.89M -$18.32M
YoY Change -53.85% 404.19% 34.81%
Income Tax $0.00 $10.00K $10.00K
% Of Pretax Income
Net Earnings -$8.455M -$28.89M -$2.651M
YoY Change 218.94% 401.82% -80.49%
Net Earnings / Revenue -89.28% -43.67%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.821M -$6.641M $26.81M
COMMON SHARES
Basic Shares Outstanding 36.45M 36.44M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2019 Q4 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.90M $62.40M $132.8M
YoY Change -46.61% -42.22% 5.48%
Cash & Equivalents $18.26M $10.61M $21.37M
Short-Term Investments $0.00 $51.79M $111.4M
Other Short-Term Assets $2.900M $179.0K $22.00K
YoY Change 13081.82% 1093.33% -99.12%
Inventory
Prepaid Expenses $615.0K $3.270M
Receivables
Other Receivables
Total Short-Term Assets $73.75M $93.25M $136.1M
YoY Change -45.81% -14.86% 5.99%
LONG-TERM ASSETS
Property, Plant & Equipment $348.0K $2.121M $325.0K
YoY Change 7.08% 560.75% 8.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.60M
YoY Change
Other Assets $200.0K $410.0K $200.0K
YoY Change 0.0% 310.0% 100.0%
Total Long-Term Assets $593.0K -$11.67M $570.0K
YoY Change 4.04% -2980.49% 42.5%
TOTAL ASSETS
Total Short-Term Assets $73.75M $93.25M $136.1M
Total Long-Term Assets $593.0K -$11.67M $570.0K
Total Assets $74.34M $81.59M $136.7M
YoY Change -45.6% -25.79% 6.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.467M $1.052M $8.242M
YoY Change -70.07% -64.8% 83.16%
Accrued Expenses $1.097M $5.483M $1.464M
YoY Change -25.07% 101.06% -77.82%
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 $3.564M $14.87M $9.706M
YoY Change -63.28% 160.06% -16.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $34.00K $15.00K $11.00K
YoY Change 209.09% -21.05% -56.0%
Total Long-Term Liabilities $34.00K $15.00K $11.00K
YoY Change 209.09% -21.05% -56.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.564M $14.87M $9.706M
Total Long-Term Liabilities $34.00K $15.00K $11.00K
Total Liabilities $3.598M $27.87M $9.717M
YoY Change -62.97% 385.96% -16.23%
SHAREHOLDERS EQUITY
Retained Earnings -$69.65M -$100.8M
YoY Change -2.45%
Common Stock $9.262M $227.6M
YoY Change -94.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$72.43M -$60.37M -$39.75M
YoY Change
Total Liabilities & Shareholders Equity $74.34M $81.59M $136.7M
YoY Change -45.6% -25.79% 6.12%

Cashflow Statement

Concept 2020 Q2 2019 Q4 2019 Q2
OPERATING ACTIVITIES
Net Income -$8.455M -$28.89M -$2.651M
YoY Change 218.94% 401.82% -80.49%
Depreciation, Depletion And Amortization $40.00K $40.00K $30.00K
YoY Change 33.33% 100.0% 50.0%
Cash From Operating Activities -$5.340M -$25.64M -$14.34M
YoY Change -62.76% 232.12% 46.48%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$30.00K -$30.00K
YoY Change -100.0% 0.0% 50.0%
Acquisitions
YoY Change
Other Investing Activities $15.00M $36.00M $25.00M
YoY Change -40.0% -546.65% -133.54%
Cash From Investing Activities $15.00M $35.97M $24.98M
YoY Change -39.95% -544.62% -133.5%
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 -10.00K 3.550M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -5.340M -25.64M -14.34M
Cash From Investing Activities 15.00M 35.97M 24.98M
Cash From Financing Activities 0.000 -10.00K 3.550M
Net Change In Cash 9.660M 10.32M 14.19M
YoY Change -31.92% -165.28% -116.82%
FREE CASH FLOW
Cash From Operating Activities -$5.340M -$25.64M -$14.34M
Capital Expenditures $0.00 -$30.00K -$30.00K
Free Cash Flow -$5.340M -$25.61M -$14.31M
YoY Change -62.68% 233.03% 46.47%

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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<span style="font-weight:normal;font-style:normal;"> </span></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;">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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Files In Submission

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torc-20200630.xsd Edgar Link pending
torc-20200630_cal.xml Edgar Link unprocessable
torc-20200630_def.xml Edgar Link unprocessable
torc-20200630_lab.xml Edgar Link unprocessable
torc-20200630_pre.xml Edgar Link unprocessable
torc-ex311_6.htm Edgar Link pending
torc-ex312_8.htm Edgar Link pending
torc-ex321_7.htm Edgar Link pending