2021 Q4 Form 10-Q Financial Statement

#000155837021014594 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $1.417M $1.203M $1.193M
YoY Change -5.53% 0.84% 403.38%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $14.78M $15.17M $13.00M
YoY Change 11.6% 16.72% 21.04%
% of Gross Profit
Research & Development $29.51M $28.21M $24.07M
YoY Change 14.45% 17.22% -18.74%
% of Gross Profit
Depreciation & Amortization $2.234M $1.454M $1.830M
YoY Change 29.13% -20.55% -6.15%
% of Gross Profit
Operating Expenses $44.28M $28.21M $24.07M
YoY Change 13.48% 17.22% -18.74%
Operating Profit -$42.18M -$35.88M
YoY Change 17.58% -10.58%
Interest Expense $179.0K $225.0K $2.150M
YoY Change -110.47% -89.53% 152.94%
% of Operating Profit
Other Income/Expense, Net $4.036M -$237.0K -$1.689M
YoY Change 51.73% -85.97% -680.41%
Pretax Income -$38.65M -$42.19M -$35.42M
YoY Change 5.71% 19.13% -9.69%
Income Tax $209.0K $208.0K $15.00K
% Of Pretax Income
Net Earnings -$38.86M -$42.40M -$35.43M
YoY Change 6.14% 19.67% -9.85%
Net Earnings / Revenue -2742.27% -3524.61% -2969.99%
Basic Earnings Per Share -$0.05
Diluted Earnings Per Share -$41.45K -$45.27K -$38.18K
COMMON SHARES
Basic Shares Outstanding 937.2M 936.5M 928.0M
Diluted Shares Outstanding 936.6M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $369.6M $240.1M $399.9M
YoY Change 0.37% -39.96% 288.79%
Cash & Equivalents $149.9M $42.92M $78.47M
Short-Term Investments $219.6M $197.2M $321.4M
Other Short-Term Assets $2.082M $3.988M $2.662M
YoY Change 368.92% 49.81% 465.18%
Inventory
Prepaid Expenses $9.043M $9.970M $7.754M
Receivables $752.0K $1.641M
Other Receivables $33.25M $43.45M
Total Short-Term Assets $415.5M $300.5M $426.7M
YoY Change 4.35% -29.59% 190.35%
LONG-TERM ASSETS
Property, Plant & Equipment $30.49M $28.69M $26.94M
YoY Change 9.78% 6.48% -14.85%
Goodwill
YoY Change
Intangibles $1.000M $1.191M $1.970M
YoY Change -42.2% -39.54% -13.37%
Long-Term Investments
YoY Change
Other Assets $1.718M $1.717M $4.600M
YoY Change -62.65% -62.67% -32.35%
Total Long-Term Assets $54.09M $53.08M $52.29M
YoY Change 2.07% 1.51% -14.67%
TOTAL ASSETS
Total Short-Term Assets $415.5M $300.5M $426.7M
Total Long-Term Assets $54.09M $53.08M $52.29M
Total Assets $469.5M $353.5M $479.0M
YoY Change 4.08% -26.2% 130.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.113M $4.784M $4.030M
YoY Change 26.98% 18.71% -27.19%
Accrued Expenses $29.91M $27.98M $24.62M
YoY Change 10.45% 13.69% -8.31%
Deferred Revenue $22.20M $6.102M $3.635M
YoY Change 683.86% 67.87% 35.48%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $62.54M $41.14M $34.90M
YoY Change 60.06% 17.87% -6.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $673.0K $664.0K $615.0K
YoY Change 4.5% 7.97% 8.27%
Total Long-Term Liabilities $673.0K $664.0K $615.0K
YoY Change 4.5% 7.97% 8.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.54M $41.14M $34.90M
Total Long-Term Liabilities $673.0K $664.0K $615.0K
Total Liabilities $263.6M $112.5M $102.8M
YoY Change 139.81% 9.46% 69.75%
SHAREHOLDERS EQUITY
Retained Earnings -$743.8M -$705.0M -$549.1M
YoY Change 26.99% 28.39% 28.81%
Common Stock $1.337M $1.337M $1.325M
YoY Change 0.91% 0.91% 40.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $206.0M $241.0M $376.2M
YoY Change
Total Liabilities & Shareholders Equity $469.5M $353.5M $479.0M
YoY Change 4.08% -26.2% 130.02%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$38.86M -$42.40M -$35.43M
YoY Change 6.14% 19.67% -9.85%
Depreciation, Depletion And Amortization $2.234M $1.454M $1.830M
YoY Change 29.13% -20.55% -6.15%
Cash From Operating Activities $133.9M -$45.20M -$16.32M
YoY Change -558.5% 176.96% -44.88%
INVESTING ACTIVITIES
Capital Expenditures -$4.042M -$1.672M -$800.0K
YoY Change 225.97% 109.0% 135.29%
Acquisitions
YoY Change
Other Investing Activities -$24.45M $36.52M -$26.77M
YoY Change -376.57% -236.43% -175.66%
Cash From Investing Activities -$28.49M $34.85M -$27.58M
YoY Change -474.39% -226.36% -178.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 52.00K 139.0K 470.0K
YoY Change -56.67% -70.43%
NET CHANGE
Cash From Operating Activities 133.9M -45.20M -16.32M
Cash From Investing Activities -28.49M 34.85M -27.58M
Cash From Financing Activities 52.00K 139.0K 470.0K
Net Change In Cash 105.5M -10.21M -43.43M
YoY Change -591.1% -76.49% -899.82%
FREE CASH FLOW
Cash From Operating Activities $133.9M -$45.20M -$16.32M
Capital Expenditures -$4.042M -$1.672M -$800.0K
Free Cash Flow $138.0M -$43.53M -$15.52M
YoY Change -593.28% 180.46% -46.98%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Note 1 </b><b style="font-weight:bold;">—</b><b style="font-weight:bold;"> General</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">Adaptimmune Therapeutics plc is registered in England and Wales. Its registered office is 60 Jubilee Avenue, Milton Park, Abingdon, Oxfordshire, OX14 4RX, United Kingdom. Adaptimmune Therapeutics plc and its subsidiaries (collectively “Adaptimmune” or the “Company”) is a clinical-stage biopharmaceutical company primarily focused on providing novel cell therapies to people with cancer. We are a leader in the development of T-cell therapies for solid tumors. The Company’s </span>proprietary platform enables it to identify cancer targets, find and develop cell therapy candidates active against those targets and produce therapeutic candidates for administration to patients. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is subject to a number of risks similar to other biopharmaceutical companies in the early stage of clinical development including, but not limited to, the need to obtain adequate additional funding, possible failure of preclinical programs or clinical programs, the need to obtain marketing approval for its cell therapies, competitors developing new technological innovations, the need to successfully commercialize and gain market acceptance of its cell therapies, the need to develop a reliable commercial manufacturing process, the need to commercialize any cell therapies that may be approved for marketing, and protection of proprietary technology. If the Company does not successfully commercialize any of its cell therapies, it will be unable to generate product revenue or achieve profitability. The Company had an accumulated deficit of $704,988,000 as of September 30, 2021.</p>
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