$AKBA
Akebia Therapeutics, Inc.

2016 Q3 Form 10-Q Financial Statement

#000156459016028609 Filed on November 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.900M
YoY Change 25.64%
% of Gross Profit
Research & Development $31.24M
YoY Change 97.71%
% of Gross Profit
Depreciation & Amortization $100.0K
YoY Change 150.0%
% of Gross Profit
Operating Expenses $36.18M
YoY Change 83.87%
Operating Profit -$36.18M
YoY Change 83.87%
Interest Expense $200.0K
YoY Change 100.0%
% of Operating Profit
Other Income/Expense, Net -$126.0K
YoY Change -162.07%
Pretax Income -$36.30M
YoY Change 86.15%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$36.31M
YoY Change 86.43%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$957.8K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $144.6M
YoY Change -8.16%
Cash & Equivalents $65.83M
Short-Term Investments $78.82M
Other Short-Term Assets $3.800M
YoY Change 192.31%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $165.1M
YoY Change 3.97%
LONG-TERM ASSETS
Property, Plant & Equipment $2.700M
YoY Change 440.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.300M
YoY Change 333.33%
Total Long-Term Assets $4.000M
YoY Change 400.0%
TOTAL ASSETS
Total Short-Term Assets $165.1M
Total Long-Term Assets $4.000M
Total Assets $169.1M
YoY Change 5.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.500M
YoY Change 60.38%
Accrued Expenses $17.60M
YoY Change 97.75%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.10M
YoY Change 83.8%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $42.30M
YoY Change
Total Long-Term Liabilities $42.30M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $26.10M
Total Long-Term Liabilities $42.30M
Total Liabilities $68.40M
YoY Change 381.69%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $100.7M
YoY Change
Total Liabilities & Shareholders Equity $169.1M
YoY Change 5.95%

Cashflow Statement

Concept 2016 Q3
OPERATING ACTIVITIES
Net Income -$36.31M
YoY Change 86.43%
Depreciation, Depletion And Amortization $100.0K
YoY Change 150.0%
Cash From Operating Activities -$28.24M
YoY Change 212.39%
INVESTING ACTIVITIES
Capital Expenditures -$1.250M
YoY Change 1036.36%
Acquisitions
YoY Change
Other Investing Activities $46.82M
YoY Change -426.5%
Cash From Investing Activities $45.57M
YoY Change -415.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.330M
YoY Change -83.3%
NET CHANGE
Cash From Operating Activities -28.24M
Cash From Investing Activities 45.57M
Cash From Financing Activities 2.330M
Net Change In Cash 19.66M
YoY Change -305.86%
FREE CASH FLOW
Cash From Operating Activities -$28.24M
Capital Expenditures -$1.250M
Free Cash Flow -$26.99M
YoY Change 202.24%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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DeferredRentCreditNoncurrent
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap General And Administrative Expense
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us-gaap Operating Expenses
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us-gaap Operating Income Loss
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CY2016Q3 us-gaap Deferred Revenue Noncurrent
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CY2015Q4 us-gaap Stockholders Equity
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CY2015Q4 us-gaap Liabilities And Stockholders Equity
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CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2016Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2015Q3 us-gaap Other Nonoperating Income Expense
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us-gaap Depreciation Depletion And Amortization
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
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us-gaap Gain Loss On Disposition Of Assets
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Deferred Revenue
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akba Increase Decrease In Deferred Rent
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akba Increase Decrease In Deferred Rent
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us-gaap Proceeds From Stock Options Exercised
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akba Deferred Follow On Offering Issuance Costs
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CY2015Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2015Q4 us-gaap Cash Cash Equivalents And Short Term Investments
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CY2015Q4 akba Cash Cash Equivalents And Short Term Investments Fair Value Disclosure
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CY2016Q3 us-gaap Available For Sale Securities Debt Securities
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CY2015Q4 akba Accrued Clinical Current
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CY2015Q4 us-gaap Accrued Bonuses Current
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CY2015Q4 us-gaap Accrued Professional Fees Current
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CY2015Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
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us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls, and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including: expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. Estimates are used in the following areas, among others: prepaid and accrued research and development expense, stock-based compensation expense, accrued expenses and income taxes. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Prior to the initial public offering, the Company utilized significant estimates and assumptions in determining the fair value of its common stock. The Company granted stock options at exercise prices not less than the fair market value of its common stock as determined by the Board of Directors contemporaneously at the date such grants were made, with input from management. Prior to the Company&#8217;s initial public offering in March&#160;2014, the fair value of common stock at the grant date was adjusted in connection with the Company&#8217;s retrospective fair value assessment for financial reporting purposes. Accordingly, the Board of Directors determined the estimated fair value of the Company&#8217;s common stock based on a number of objective and subjective factors, including external market conditions affecting the biotechnology industry sector and the prices at which the Company sold shares of preferred stock, the superior rights and preferences of securities senior to the Company&#8217;s common stock at the time and the likelihood of achieving a liquidity event, such as an initial public offering or sale of the Company.&nbsp;&nbsp;</p></div>
us-gaap Concentration Risk Credit Risk
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<div> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentrations of Credit Risk and Off-Balance Sheet Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Cash and investments are the only financial instruments that potentially subject the Company to concentrations of credit risk. The Company maintains its cash with high quality, accredited financial institutions and, accordingly, such funds are subject to minimal credit risk. The Company has no significant off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangements.</p></div>
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AreaOfRealEstateProperty
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CY2016Q3 akba Cash Cash Equivalents And Short Term Investments Fair Value Disclosure
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CY2016Q3 akba Cash And Cash Equivalents And Available For Sale Securities
CashAndCashEquivalentsAndAvailableForSaleSecurities
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CY2016Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
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us-gaap Number Of Operating Segments
NumberOfOperatingSegments
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CY2016Q3 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
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CY2015Q3 us-gaap Liability For Uncertain Tax Positions Current
LiabilityForUncertainTaxPositionsCurrent
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us-gaap Revenues
Revenues
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
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CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
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CY2016Q3 us-gaap Available For Sale Securities Amortized Cost
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CY2016Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
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CY2016Q3 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
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CY2015Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
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CY2016Q3 us-gaap Postemployment Benefits Liability Current
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CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
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akba Operating Lease Payments Commencement Date
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CY2016Q3 us-gaap Contractual Obligation Due In Second Year
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us-gaap Lease And Rental Expense
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CY2016Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2015Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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akba Defined Contribution Plan Employees Age To Be Eligible Under Plan
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CY2016Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2015Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2541735

Files In Submission

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