$ACHV
ACHIEVE LIFE SCIENCES, INC.

2024 Q3 Form 10-Q Financial Statement

#000095017024096193 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 $4.857M $3.318M
YoY Change 62.44% 6.04%
% of Gross Profit
Research & Development $7.609M $5.113M
YoY Change 112.48% 11.52%
% of Gross Profit
Depreciation & Amortization $57.00K $57.00K
YoY Change -5.0% 3.64%
% of Gross Profit
Operating Expenses $7.609M $5.113M
YoY Change 112.48% 11.52%
Operating Profit
YoY Change
Interest Expense $366.0K $804.0K
YoY Change -53.14% 12.92%
% of Operating Profit
Other Income/Expense, Net -$46.00K -$30.00K
YoY Change -91.42% -94.29%
Pretax Income -$12.51M -$8.461M
YoY Change 75.98% 2.69%
Income Tax
% Of Pretax Income
Net Earnings -$12.51M -$8.461M
YoY Change 76.03% 2.69%
Net Earnings / Revenue
Basic Earnings Per Share -$0.36 -$0.25
Diluted Earnings Per Share -$0.36 -$0.25
COMMON SHARES
Basic Shares Outstanding 34.34M 34.34M
Diluted Shares Outstanding 34.36M 34.32M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.91M $61.31M
YoY Change 115.63% 144.56%
Cash & Equivalents $9.544M $14.76M
Short-Term Investments $33.37M $46.56M
Other Short-Term Assets $2.618M $1.206M
YoY Change 37.79% 25.89%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $45.53M $62.52M
YoY Change 107.92% 137.0%
LONG-TERM ASSETS
Property, Plant & Equipment $20.00K $35.00K
YoY Change -80.0% -64.65%
Goodwill $1.034M $1.034M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $304.0K $117.0K
YoY Change 204.0% 23.16%
Total Long-Term Assets $2.388M $2.272M
YoY Change -2.13% -10.41%
TOTAL ASSETS
Total Short-Term Assets $45.53M $62.52M
Total Long-Term Assets $2.388M $2.272M
Total Assets $47.92M $64.79M
YoY Change 96.89% 124.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.011M $550.0K
YoY Change 58.46% 52.35%
Accrued Expenses $5.006M $3.711M
YoY Change 47.24% 20.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $8.804M
YoY Change
Total Short-Term Liabilities $6.716M $13.70M
YoY Change 64.53% 297.51%
LONG-TERM LIABILITIES
Long-Term Debt $9.823M $8.804M
YoY Change -39.36% -44.03%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
Total Long-Term Liabilities $9.823M $8.804M
YoY Change -39.36% -44.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.716M $13.70M
Total Long-Term Liabilities $9.823M $8.804M
Total Liabilities $16.54M $22.51M
YoY Change -18.52% 17.12%
SHAREHOLDERS EQUITY
Retained Earnings -$193.2M -$180.7M
YoY Change 20.52% 17.95%
Common Stock $224.5M $223.0M
YoY Change 36.65% 36.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.38M $42.29M
YoY Change
Total Liabilities & Shareholders Equity $47.92M $64.79M
YoY Change 96.89% 124.07%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$12.51M -$8.461M
YoY Change 76.03% 2.69%
Depreciation, Depletion And Amortization $57.00K $57.00K
YoY Change -5.0% 3.64%
Cash From Operating Activities -$10.37M -$4.921M
YoY Change 101.79% -26.29%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $13.27M -$46.57M
YoY Change
Cash From Investing Activities $13.27M -$46.57M
YoY Change -66455.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -8.112M -153.0K
YoY Change -101.0%
NET CHANGE
Cash From Operating Activities -10.37M -4.921M
Cash From Investing Activities 13.27M -46.57M
Cash From Financing Activities -8.112M -153.0K
Net Change In Cash -5.213M -51.64M
YoY Change 1.03% -703.65%
FREE CASH FLOW
Cash From Operating Activities -$10.37M -$4.921M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q2 achv Adjustment To Additional Paid In Capital Convertible Debt Refinancing Discount
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1074000
CY2023Q2 achv Stock Issued During Period Value Restricted Stock Unit Settlement Withheld And Retired To Treasury
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-220000
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CY2023Q2 us-gaap Stockholders Equity
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9699000
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
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-180700000
CY2024Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
61300000
CY2024Q2 achv Working Capital Balance
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48800000
us-gaap Net Income Loss
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us-gaap Net Cash Provided By Used In Operating Activities
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-10200000
CY2015Q2 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
3100000
CY2015Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P14Y
CY2024Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2023Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
112000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
223000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
223000
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
223000
CY2024Q2 achv Finite Lived Intangible Assets Amortization Expense After Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearThree
305000
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1086000
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
14466000
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
14466000
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
20000
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
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20000
achv Maximum Maturity Period Of Cash And Cash Equivalents
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P90D
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
46568000
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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11000
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
46557000
CY2024Q2 achv Custodian Deposits
CustodianDeposits
58800000
CY2024Q2 us-gaap Cash
Cash
100000
CY2024Q2 us-gaap Debt Instrument Face Amount
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15000000
CY2024Q2 us-gaap Convertible Debt
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17608000
CY2024Q2 us-gaap Convertible Debt Fair Value Disclosures
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17585000
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15000000
CY2023Q4 us-gaap Convertible Debt
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16662000
CY2023Q4 us-gaap Convertible Debt Fair Value Disclosures
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16652000
CY2023Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
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0.07
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15000000
CY2023Q4 us-gaap Debt Instrument Face Amount
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15000000
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5000
CY2023Q4 us-gaap Deferred Finance Costs Net
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5000
CY2024Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
2935000
CY2023Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
2311000
CY2024Q2 achv Discount On Modification Of Debt
DiscountOnModificationOfDebt
1074000
CY2023Q4 achv Discount On Modification Of Debt
DiscountOnModificationOfDebt
1074000
CY2024Q2 achv Accretion Of Discount On Modification Debt
AccretionOfDiscountOnModificationDebt
752000
CY2023Q4 achv Accretion Of Discount On Modification Debt
AccretionOfDiscountOnModificationDebt
430000
CY2024Q2 us-gaap Convertible Debt
ConvertibleDebt
17608000
CY2023Q4 us-gaap Convertible Debt
ConvertibleDebt
16662000
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2024Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
113125
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
113125
CY2023Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2023Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
139750
us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
139750
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1461980
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
466500
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.55
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
41
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
24184.44
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1928439
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.04
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.036
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y7M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9015
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.1519
achv Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0
achv Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
0
CY2024Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1454000
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
1189000
us-gaap Share Based Compensation
ShareBasedCompensation
2742000
us-gaap Share Based Compensation
ShareBasedCompensation
2275000
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
3500000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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21219368
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7090100
achv Percentage Of Voting Power
PercentageOfVotingPower
0.50
CY2024Q2 us-gaap Contractual Obligation
ContractualObligation
38000
CY2024Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
38000
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
29000
us-gaap Operating Lease Expense
OperatingLeaseExpense
58000
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
28000
us-gaap Operating Lease Expense
OperatingLeaseExpense
57000
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
15000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
13000
us-gaap Operating Lease Payments
OperatingLeasePayments
31000
us-gaap Operating Lease Payments
OperatingLeasePayments
28000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M29D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M29D
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y6M29D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M29D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0898
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0898
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0898
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0898
CY2024Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
achv Indemnification Expense
IndemnificationExpense
0

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