$ACHV
ACHIEVE LIFE SCIENCES, INC.

2021 Q1 Form 10-Q Financial Statement

#000156459021027556 Filed on May 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.340M $1.820M
YoY Change 28.57% -3.7%
% of Gross Profit
Research & Development $5.642M $1.541M
YoY Change 266.13% -62.0%
% of Gross Profit
Depreciation & Amortization $60.00K $60.00K
YoY Change 0.0% -14.29%
% of Gross Profit
Operating Expenses $5.642M $1.541M
YoY Change 266.13% -62.0%
Operating Profit
YoY Change
Interest Expense $10.00K $40.00K
YoY Change -75.0% -33.33%
% of Operating Profit
Other Income/Expense, Net -$15.00K $37.00K
YoY Change -140.54% 2.78%
Pretax Income -$8.000M -$3.320M
YoY Change 140.96% -43.73%
Income Tax
% Of Pretax Income
Net Earnings -$7.999M -$3.320M
YoY Change 140.93% -43.77%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$1.305M -$107.3K
COMMON SHARES
Basic Shares Outstanding 31.35M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.60M $12.20M
YoY Change 142.62% 25.77%
Cash & Equivalents $29.69M $12.21M
Short-Term Investments
Other Short-Term Assets $800.0K $700.0K
YoY Change 14.29% -22.22%
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $30.44M $12.90M
YoY Change 135.96% 22.86%
LONG-TERM ASSETS
Property, Plant & Equipment $33.00K $300.0K
YoY Change -89.0% -40.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $300.0K
YoY Change -33.33% 200.0%
Total Long-Term Assets $3.261M $3.700M
YoY Change -11.86% -7.5%
TOTAL ASSETS
Total Short-Term Assets $30.44M $12.90M
Total Long-Term Assets $3.261M $3.700M
Total Assets $33.70M $16.60M
YoY Change 103.01% 14.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $600.0K $200.0K
YoY Change 200.0% -71.43%
Accrued Expenses $2.900M $1.400M
YoY Change 107.14% -57.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.500M $1.500M
YoY Change 133.33% -62.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $100.0K $100.0K
YoY Change 0.0% -66.67%
Total Long-Term Liabilities $100.0K $100.0K
YoY Change 0.0% -66.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.500M $1.500M
Total Long-Term Liabilities $100.0K $100.0K
Total Liabilities $3.574M $1.700M
YoY Change 110.24% -60.47%
SHAREHOLDERS EQUITY
Retained Earnings -$49.02M
YoY Change
Common Stock $64.01M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.09M $14.99M
YoY Change
Total Liabilities & Shareholders Equity $33.70M $16.65M
YoY Change 102.44% 14.81%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$7.999M -$3.320M
YoY Change 140.93% -43.77%
Depreciation, Depletion And Amortization $60.00K $60.00K
YoY Change 0.0% -14.29%
Cash From Operating Activities -$6.452M -$4.461M
YoY Change 44.63% -8.75%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $2.000K
YoY Change -100.0% -96.3%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$2.000K
YoY Change -100.0% -100.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 236.0K -47.00K
YoY Change -602.13%
NET CHANGE
Cash From Operating Activities -6.452M -4.461M
Cash From Investing Activities 0.000 -2.000K
Cash From Financing Activities 236.0K -47.00K
Net Change In Cash -6.216M -4.508M
YoY Change 37.89% 105.38%
FREE CASH FLOW
Cash From Operating Activities -$6.452M -$4.461M
Capital Expenditures $0.00 $2.000K
Free Cash Flow -$6.452M -$4.463M
YoY Change 44.57% -9.71%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
42000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
77000
CY2021Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
802000
CY2021Q1 us-gaap Assets Current
AssetsCurrent
30439000
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
61000
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2342000
CY2021Q1 us-gaap Liabilities
Liabilities
3574000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-3320000
CY2021Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5642000
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1816000
CY2021Q1 us-gaap Costs And Expenses
CostsAndExpenses
7984000
CY2020Q1 us-gaap Costs And Expenses
CostsAndExpenses
3357000
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
37000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
12206000
CY2021Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
465842
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.48
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
33000
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
59000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-7999000
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
64000
CY2021Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-15000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-7999000
CY2021Q1 achv Shares Issued As Settlement With Trade Vendor As Non Monetary Transaction
SharesIssuedAsSettlementWithTradeVendorAsNonMonetaryTransaction
23000
CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-8000
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-318000
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
190000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
253000
CY2020Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-675000
CY2021Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-373000
CY2020Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-130000
CY2021Q1 achv Increase Decrease In Accrued Clinical Liabilities
IncreaseDecreaseInAccruedClinicalLiabilities
1677000
CY2020Q1 achv Increase Decrease In Accrued Clinical Liabilities
IncreaseDecreaseInAccruedClinicalLiabilities
184000
CY2021Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-952000
CY2020Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-697000
CY2021Q1 achv Increase Decrease In Lease Obligations
IncreaseDecreaseInLeaseObligations
5000
CY2020Q1 achv Increase Decrease In Lease Obligations
IncreaseDecreaseInLeaseObligations
4000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6452000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4461000
CY2021Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
236000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
236000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-47000
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2000
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6216000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4508000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
35903000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16714000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
29687000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
542000
CY2021Q1 achv Shares Issued On Exercise Of Warrants Value
SharesIssuedOnExerciseOfWarrantsValue
236000
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
23000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
18050000
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
302000
CY2021Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
29136000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
50000
CY2021Q1 achv Maximum Maturity Period Of Cash And Cash Equivalents
MaximumMaturityPeriodOfCashAndCashEquivalents
P90D
CY2021Q1 achv Working Capital Balance
WorkingCapitalBalance
26900000
CY2015Q2 us-gaap Finite Lived Intangible Assets Fair Value Disclosure
FiniteLivedIntangibleAssetsFairValueDisclosure
3100000
CY2015Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P14Y
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
168000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
223000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
223000
CY2021Q1 achv Finite Lived Intangible Assets Amortization Expense After Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearTwo
1195000
CY2021Q1 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
44000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M29D
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y11M26D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
227442
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
238400
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
44.64
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
13.07
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0059
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0151
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3D
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y7D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0987
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.0406
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
4300000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1778596
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1480774
CY2021Q1 us-gaap Contractual Obligation
ContractualObligation
126000
CY2021Q1 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
52000
CY2021Q1 us-gaap Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
74000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
38000
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.099
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.099
CY2021Q1 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2021Q1 achv Indemnification Expense
IndemnificationExpense
0

Files In Submission

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0001564590-21-027556-index-headers.html Edgar Link pending
0001564590-21-027556-index.html Edgar Link pending
0001564590-21-027556.txt Edgar Link pending
0001564590-21-027556-xbrl.zip Edgar Link pending
achv-10q_20210331.htm Edgar Link pending
achv-20210331.xml Edgar Link completed
achv-20210331.xsd Edgar Link pending
achv-20210331_cal.xml Edgar Link unprocessable
achv-20210331_def.xml Edgar Link unprocessable
achv-20210331_lab.xml Edgar Link unprocessable
achv-20210331_pre.xml Edgar Link unprocessable
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