$ACHV
ACHIEVE LIFE SCIENCES, INC.

2015 Q3 Form 10-Q Financial Statement

#000156459015010614 Filed on November 12, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $6.737M $4.800M
YoY Change 40.35% -51.32%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.130M $2.460M
YoY Change 27.24% -0.4%
% of Gross Profit
Research & Development $8.303M $9.586M
YoY Change -13.38% -46.76%
% of Gross Profit
Depreciation & Amortization $60.00K $60.00K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $11.43M $12.05M
YoY Change -5.12% -33.1%
Operating Profit
YoY Change
Interest Expense $20.00K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $141.0K $2.335M
YoY Change -93.96% 316.22%
Pretax Income -$4.550M -$4.910M
YoY Change -7.33% -51.14%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$4.550M -$4.907M
YoY Change -7.28% -51.19%
Net Earnings / Revenue -67.54% -102.23%
Basic Earnings Per Share
Diluted Earnings Per Share -$455.0M -$491.0M
COMMON SHARES
Basic Shares Outstanding 21.14M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.90M $54.00M
YoY Change 22.04% 15.38%
Cash & Equivalents $42.48M $48.95M
Short-Term Investments $23.50M $5.100M
Other Short-Term Assets $1.600M $2.500M
YoY Change -36.0% -7.41%
Inventory
Prepaid Expenses
Receivables $0.00 $4.827M
Other Receivables $100.0K $0.00
Total Short-Term Assets $67.60M $61.32M
YoY Change 10.25% 2.69%
LONG-TERM ASSETS
Property, Plant & Equipment $380.0K $312.0K
YoY Change 21.79% -29.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $38.00K $773.0K
YoY Change -95.08% -34.21%
Total Long-Term Assets $640.0K $1.336M
YoY Change -52.1% -30.85%
TOTAL ASSETS
Total Short-Term Assets $67.60M $61.32M
Total Long-Term Assets $640.0K $1.336M
Total Assets $68.24M $62.65M
YoY Change 8.92% 1.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.779M $1.562M
YoY Change 13.89% 3905.13%
Accrued Expenses $12.40M $13.17M
YoY Change -5.83% 16.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $1.100M
YoY Change -90.91% 0.0%
Total Short-Term Liabilities $29.30M $20.93M
YoY Change 40.01% 45.65%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $2.900M
YoY Change -96.55% -21.62%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $100.0K $2.900M
YoY Change -96.55% -21.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $29.30M $20.93M
Total Long-Term Liabilities $100.0K $2.900M
Total Liabilities $29.50M $23.80M
YoY Change 23.95% 31.52%
SHAREHOLDERS EQUITY
Retained Earnings -$154.3M
YoY Change 21.47%
Common Stock $190.5M
YoY Change 13.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $38.80M $38.85M
YoY Change
Total Liabilities & Shareholders Equity $68.20M $62.65M
YoY Change 8.86% 1.64%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$4.550M -$4.907M
YoY Change -7.28% -51.19%
Depreciation, Depletion And Amortization $60.00K $60.00K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$8.640M -$5.760M
YoY Change 50.0% -43.7%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$10.00K
YoY Change 200.0%
Acquisitions
YoY Change
Other Investing Activities -$11.27M -$5.060M
YoY Change 122.73% -214.74%
Cash From Investing Activities -$11.31M -$5.070M
YoY Change 123.08% -214.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $24.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.42M 19.17M
YoY Change -24.78%
NET CHANGE
Cash From Operating Activities -8.640M -5.760M
Cash From Investing Activities -11.31M -5.070M
Cash From Financing Activities 14.42M 19.17M
Net Change In Cash -5.530M 8.340M
YoY Change -166.31% -243.3%
FREE CASH FLOW
Cash From Operating Activities -$8.640M -$5.760M
Capital Expenditures -$30.00K -$10.00K
Free Cash Flow -$8.610M -$5.750M
YoY Change 49.74% -43.79%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
380000
CY2015Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
11041000
CY2015Q3 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
53000
CY2015Q3 us-gaap Assets
Assets
68237000
CY2015Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
1779000
CY2015Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1610000
CY2015Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
811000
CY2015Q3 ogxi Lease Termination Liability Current
LeaseTerminationLiabilityCurrent
1250000
CY2015Q3 us-gaap Assets Current
AssetsCurrent
67597000
CY2015Q3 ogxi Accrued Liabilities Clinical Current
AccruedLiabilitiesClinicalCurrent
9968000
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
222000
CY2015Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
38000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16952793
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3830000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20565000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.21
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3646000
us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
1423000
us-gaap Operating Expenses
OperatingExpenses
27410000
us-gaap Operating Expenses
OperatingExpenses
44264000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8303000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-3494000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
277000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
229000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1154000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-596000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
301000
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
11428000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
12045000
CY2014Q3 ogxi Warrant Issuance Costs
WarrantIssuanceCosts
531000
ogxi Warrant Issuance Costs
WarrantIssuanceCosts
531000
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
-29000
us-gaap Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
-582000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
30000
ogxi Proceeds In Advance For Issuing Warrants
ProceedsInAdvanceForIssuingWarrants
2860000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
22372000
us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
17629000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
52000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
28000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
17577000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
25234000
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
22942000
us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
5279000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
1003000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
17659000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
24846000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
80000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-4581000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
19487000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
34357000
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
48950000
us-gaap Stock Issued1
StockIssued1
254000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-2768000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2242000
us-gaap Net Income Loss
NetIncomeLoss
-20559000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-6000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-6000
us-gaap Depreciation
Depreciation
165000
us-gaap Share Based Compensation
ShareBasedCompensation
2968000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-199000
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
-63000
us-gaap Increase Decrease In Restructuring Reserve
IncreaseDecreaseInRestructuringReserve
-194000
ogxi Increase Decrease In Lease Obligations
IncreaseDecreaseInLeaseObligations
-113000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
11041000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
1584000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-10364000
ogxi Increase Decrease In Lease Obligations
IncreaseDecreaseInLeaseObligations
67000
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2015Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2015Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2836000
CY2015Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
66159000
CY2014Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
3002000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
166000
CY2015Q3 us-gaap Cash
Cash
16735000
CY2015Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
23459000
CY2015Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
5000
CY2015Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
4000
CY2015Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
23460000
ogxi Maximum Maturity Period Of Cash And Cash Equivalents
MaximumMaturityPeriodOfCashAndCashEquivalents
P90D
ogxi Maximum Maturity Period Of Short Term Investments
MaximumMaturityPeriodOfShortTermInvestments
P1Y
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2015Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000
CY2015Q3 ogxi Common Stock Sales Agreement Net Amount
CommonStockSalesAgreementNetAmount
0
CY2015Q1 ogxi Additional Contingent Liability Early Termination Of Lease Agreement
AdditionalContingentLiabilityEarlyTerminationOfLeaseAgreement
1300000
ogxi Expiration Of Operating Lease Agreement
ExpirationOfOperatingLeaseAgreement
2016-09
CY2015Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
800000
CY2014Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
700000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
2100000
CY2015Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
ogxi Indemnification Expense
IndemnificationExpense
0

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