$ACET
Adicet Bio, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021028185 Filed on May 17, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue -$3.980M $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.630M $2.540M
YoY Change 121.65% -10.56%
% of Gross Profit
Research & Development $11.74M $7.033M
YoY Change 66.97% -20.55%
% of Gross Profit
Depreciation & Amortization $330.0K $30.00K
YoY Change 1000.0% 0.0%
% of Gross Profit
Operating Expenses $17.37M $9.557M
YoY Change 81.78% -18.25%
Operating Profit -$21.35M
YoY Change
Interest Expense $50.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$4.000K $70.00K
YoY Change -105.71% -88.91%
Pretax Income -$21.37M -$7.165M
YoY Change 198.21% -35.22%
Income Tax -$48.00K -$2.679M
% Of Pretax Income
Net Earnings -$21.32M -$4.486M
YoY Change 375.23% 8.59%
Net Earnings / Revenue
Basic Earnings Per Share -$0.82
Diluted Earnings Per Share -$0.82 -$1.351M
COMMON SHARES
Basic Shares Outstanding 26.10M 36.45M
Diluted Shares Outstanding 26.10M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $223.4M $76.30M
YoY Change 192.82% -46.68%
Cash & Equivalents $221.7M $11.02M
Short-Term Investments $1.753M $15.10M
Other Short-Term Assets $124.0K $1.200M
YoY Change -89.67% -25.0%
Inventory
Prepaid Expenses $1.732M
Receivables
Other Receivables
Total Short-Term Assets $229.1M $77.60M
YoY Change 195.23% -46.37%
LONG-TERM ASSETS
Property, Plant & Equipment $3.122M $400.0K
YoY Change 680.5% 33.33%
Goodwill $19.86M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.099M $200.0K
YoY Change 949.5% 100.0%
Total Long-Term Assets $52.97M $600.0K
YoY Change 8728.83% 50.0%
TOTAL ASSETS
Total Short-Term Assets $229.1M $77.60M
Total Long-Term Assets $52.97M $600.0K
Total Assets $282.1M $78.20M
YoY Change 260.71% -46.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.748M $1.200M
YoY Change 45.67% -64.71%
Accrued Expenses $5.500M $1.400M
YoY Change 292.86% 16.67%
Deferred Revenue $17.96M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.18M $2.600M
YoY Change 868.58% -43.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $20.60M $0.00
YoY Change
Total Long-Term Liabilities $20.60M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $25.18M $2.600M
Total Long-Term Liabilities $20.60M $0.00
Total Liabilities $45.81M $2.600M
YoY Change 1662.08% -43.48%
SHAREHOLDERS EQUITY
Retained Earnings -$127.6M -$161.2M
YoY Change -20.8%
Common Stock $363.9M $236.8M
YoY Change 53.7% 6.22%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $236.3M -$64.53M
YoY Change
Total Liabilities & Shareholders Equity $282.1M $78.21M
YoY Change 260.68% -46.09%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$21.32M -$4.486M
YoY Change 375.23% 8.59%
Depreciation, Depletion And Amortization $330.0K $30.00K
YoY Change 1000.0% 0.0%
Cash From Operating Activities -$15.15M -$8.352M
YoY Change 81.35% -30.68%
INVESTING ACTIVITIES
Capital Expenditures $658.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $8.500M $42.50M
YoY Change -80.0% -222.83%
Cash From Investing Activities $7.842M $4.445M
YoY Change 76.42% -112.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$128.8M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 144.9M 42.00K
YoY Change 344869.05% -99.91%
NET CHANGE
Cash From Operating Activities -15.15M -8.352M
Cash From Investing Activities 7.842M 4.445M
Cash From Financing Activities 144.9M 42.00K
Net Change In Cash 137.6M -3.865M
YoY Change -3659.72% -2880.58%
FREE CASH FLOW
Cash From Operating Activities -$15.15M -$8.352M
Capital Expenditures $658.0K $0.00
Free Cash Flow -$15.80M -$8.352M
YoY Change 89.22% -30.82%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:3.58%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and cash equivalents, and marketable debt securities. 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 and marketable debt securities in money market funds, U.S. government securities, commercial paper, corporate bonds, and asset-backed securities. The Company limits its credit risk associated with cash equivalents and marketable debt securities 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 and marketable debt securities to date.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:3.58%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has one customer, Regeneron Pharmaceuticals, Inc. (Regeneron), which represents 100% of the Company’s total revenue for the quarters ended March 31, 2021, and 2020 (see Note 10).</p>
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24000
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3833000
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1333000
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30000
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326000
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4227000
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5732000
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0.0500
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2021-10-28
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0
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100000
CY2021Q1 acet Incremental Expense
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0
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200000
CY2020Q1 us-gaap Lease And Rental Expense
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200000
CY2020Q4 us-gaap Common Stock Shares Authorized
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CY2021Q1 us-gaap Class Of Warrant Or Right Outstanding
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CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2021Q1 us-gaap Common Stock Shares Authorized
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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9050000
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0.000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.000
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362503
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CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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2163440
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CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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14117079

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