$AKRO
Akero Therapeutics Inc

2021 Q3 Form 10-Q Financial Statement

#000155837021011572 Filed on August 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.883M $4.990M $3.420M
YoY Change 17.38% 45.91% 107.27%
% of Gross Profit
Research & Development $19.47M $23.98M $13.04M
YoY Change 12.03% 83.91% 118.74%
% of Gross Profit
Depreciation & Amortization $9.000K $11.00K
YoY Change -10.0%
% of Gross Profit
Operating Expenses $19.47M $23.98M $13.04M
YoY Change 12.03% 83.91% 71.31%
Operating Profit -$24.35M -$28.97M -$16.45M
YoY Change 13.07% 76.04%
Interest Expense $23.00K $33.00K $250.0K
YoY Change -83.57% -86.8%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change -100.0%
Pretax Income -$24.33M -$28.93M -$16.21M
YoY Change 13.69% 78.49% 124.2%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$24.33M -$28.93M -$16.21M
YoY Change 13.68% 78.52% 124.16%
Net Earnings / Revenue
Basic Earnings Per Share -$0.70 -$0.83
Diluted Earnings Per Share -$697.9K -$0.83 -$566.8K
COMMON SHARES
Basic Shares Outstanding 34.86M 34.81M
Diluted Shares Outstanding 34.86M 34.81M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $354.1M $381.4M $102.8M
YoY Change 21.32% 271.02% -36.82%
Cash & Equivalents $164.9M $157.5M $63.40M
Short-Term Investments $189.2M $223.9M $39.60M
Other Short-Term Assets $6.726M $6.194M $10.40M
YoY Change 8.48% -40.44% 1980.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $221.8M $236.2M $113.2M
YoY Change -25.57% 108.68% -30.59%
LONG-TERM ASSETS
Property, Plant & Equipment $101.0K $110.0K
YoY Change -94.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $114.0K $115.0K $900.0K
YoY Change -43.0% -87.22% 800.0%
Total Long-Term Assets $1.726M $1.787M $900.0K
YoY Change -13.7% 98.56% 800.0%
TOTAL ASSETS
Total Short-Term Assets $221.8M $236.2M $113.2M
Total Long-Term Assets $1.726M $1.787M $900.0K
Total Assets $223.5M $238.0M $114.1M
YoY Change -25.49% 108.6% -30.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.784M $2.307M $2.500M
YoY Change 47.48% -7.72% -21.88%
Accrued Expenses $16.76M $14.12M $7.700M
YoY Change 129.53% 83.35% 413.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $23.54M $16.46M $10.40M
YoY Change 96.17% 58.26% 121.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.365M $1.417M $0.00
YoY Change -14.69%
Total Long-Term Liabilities $1.365M $1.417M $0.00
YoY Change -14.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $23.54M $16.46M $10.40M
Total Long-Term Liabilities $1.365M $1.417M $0.00
Total Liabilities $24.91M $17.88M $10.40M
YoY Change 83.13% 71.88% 116.67%
SHAREHOLDERS EQUITY
Retained Earnings -$277.9M -$253.6M
YoY Change
Common Stock $476.5M $473.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $198.6M $220.1M $103.7M
YoY Change
Total Liabilities & Shareholders Equity $223.5M $238.0M $114.1M
YoY Change -25.49% 108.6% -30.09%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$24.33M -$28.93M -$16.21M
YoY Change 13.68% 78.52% 124.16%
Depreciation, Depletion And Amortization $9.000K $11.00K
YoY Change -10.0%
Cash From Operating Activities -$14.61M -$20.03M -$22.58M
YoY Change 8.11% -11.29% 323.64%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $21.93M -$10.65M $38.46M
YoY Change -136.74% -127.7%
Cash From Investing Activities $21.93M -$10.65M $38.46M
YoY Change -136.65% -127.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 69.00K 270.0K 100.0K
YoY Change -99.97% 170.0% -99.9%
NET CHANGE
Cash From Operating Activities -14.61M -20.03M -22.58M
Cash From Investing Activities 21.93M -10.65M 38.46M
Cash From Financing Activities 69.00K 270.0K 100.0K
Net Change In Cash 7.397M -30.41M 15.98M
YoY Change -94.29% -290.33% -82.79%
FREE CASH FLOW
Cash From Operating Activities -$14.61M -$20.03M -$22.58M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 36pt;">Use of estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The <span style="background-color:#ffffff;">preparation of the Company's condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses, the valuations of common stock and the valuation allowance for deferred tax assets. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates when there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results could differ from those </span>estimates. </p>
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akro Income Tax Expense Benefit Related To Operating Losses And Credits
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