$ALEC
Alector, Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459020039319 Filed on August 11, 2020

View on sec.gov

Income Statement

Concept 2019 Q2
Revenue $6.917M
YoY Change -2.7%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.430M
YoY Change 234.52%
% of Gross Profit
Research & Development $25.64M
YoY Change 52.46%
% of Gross Profit
Depreciation & Amortization $800.0K
YoY Change 166.67%
% of Gross Profit
Operating Expenses $34.07M
YoY Change 76.16%
Operating Profit -$27.15M
YoY Change 121.99%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $2.592M
YoY Change 133.51%
Pretax Income -$24.56M
YoY Change 120.86%
Income Tax
% Of Pretax Income
Net Earnings -$24.56M
YoY Change 120.84%
Net Earnings / Revenue -355.07%
Basic Earnings Per Share
Diluted Earnings Per Share -$364.8K
COMMON SHARES
Basic Shares Outstanding 68.87M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $410.9M
YoY Change 53.26%
Cash & Equivalents $69.21M
Short-Term Investments $341.7M
Other Short-Term Assets $3.700M
YoY Change 94.74%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $414.6M
YoY Change 53.55%
LONG-TERM ASSETS
Property, Plant & Equipment $32.01M
YoY Change 900.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $110.0K
YoY Change -93.13%
Total Long-Term Assets $62.65M
YoY Change 1178.65%
TOTAL ASSETS
Total Short-Term Assets $414.6M
Total Long-Term Assets $62.65M
Total Assets $477.3M
YoY Change 73.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $540.0K
YoY Change 440.0%
Accrued Expenses $14.58M
YoY Change 135.11%
Deferred Revenue $40.87M
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $67.10M
YoY Change 81.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $409.0K
YoY Change -99.74%
Total Long-Term Liabilities $409.0K
YoY Change -99.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $67.10M
Total Long-Term Liabilities $409.0K
Total Liabilities $231.5M
YoY Change 17.71%
SHAREHOLDERS EQUITY
Retained Earnings -$157.6M
YoY Change
Common Stock $7.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $245.7M
YoY Change
Total Liabilities & Shareholders Equity $477.3M
YoY Change 73.61%

Cashflow Statement

Concept 2019 Q2
OPERATING ACTIVITIES
Net Income -$24.56M
YoY Change 120.84%
Depreciation, Depletion And Amortization $800.0K
YoY Change 166.67%
Cash From Operating Activities -$18.00M
YoY Change 5.88%
INVESTING ACTIVITIES
Capital Expenditures -$9.400M
YoY Change 1242.86%
Acquisitions
YoY Change
Other Investing Activities $35.80M
YoY Change -190.86%
Cash From Investing Activities $26.50M
YoY Change -166.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -100.0K
YoY Change -100.14%
NET CHANGE
Cash From Operating Activities -18.00M
Cash From Investing Activities 26.50M
Cash From Financing Activities -100.0K
Net Change In Cash 8.400M
YoY Change -35.88%
FREE CASH FLOW
Cash From Operating Activities -$18.00M
Capital Expenditures -$9.400M
Free Cash Flow -$8.600M
YoY Change -47.24%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
68667000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
46247000
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15697000
CY2019Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8429000
CY2020Q2 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
alec:CollaborationRevenueMember
CY2019Q2 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
alec:CollaborationRevenueMember
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
25640000
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
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CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
34069000
us-gaap Operating Expenses
OperatingExpenses
99008000
us-gaap Operating Expenses
OperatingExpenses
60435000
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-46589000
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-27152000
us-gaap Operating Income Loss
OperatingIncomeLoss
-88667000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3694000
us-gaap Operating Income Loss
OperatingIncomeLoss
-47913000
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1263000
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2592000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3322000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-45326000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-24560000
CY2020Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-936000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-42637000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.11
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.77
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
67327975
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
76617938
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
55643532
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
224511000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6642000
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
2640000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-40019000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
391734000
CY2020Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
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CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6948000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-936000
CY2020Q1 alec Issuance Costs Of Common Stock
IssuanceCostsOfCommonStock
1148000
CY2019Q1 alec Issuance Costs Of Common Stock
IssuanceCostsOfCommonStock
3874000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
-97398000
CY2019Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
-210521000
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
168223000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
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CY2019Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3245000
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
150000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-18560000
CY2019Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
63000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
333000
alec Amortization Right Of Use Asset
AmortizationRightOfUseAsset
608000
alec Amortization Right Of Use Asset
AmortizationRightOfUseAsset
1217000
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
1158000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-9000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-39000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
896000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-17000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
414000
alec Increase Decrease In Accrued Liabilities And Accrued Clinical Supply Costs
IncreaseDecreaseInAccruedLiabilitiesAndAccruedClinicalSupplyCosts
5843000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-12522000
alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-1328000
alec Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
762000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
313000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-41618000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
11393000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
339447000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
226000000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-124840000
alec Proceeds From Payments For Issuance Initial Public Offering
ProceedsFromPaymentsForIssuanceInitialPublicOffering
-170128000
alec Proceeds From Issuance Of Common Stock Upon Follow On Public Offering Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockUponFollowOnPublicOfferingNetOfIssuanceCosts
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2860000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
184000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2849000
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.86%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;margin-left:4.86%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed consolidated financial statements in conformity with 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 condensed consolidated financial statements and the reported amounts of revenue and expense during the reporting period. The Company evaluates its estimates, including those related to revenue recognition, manufacturing accruals, clinical accruals, fair value of assets and liabilities, income taxes uncertainties, stock-based compensation, and related assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates<font style="font-style:italic;">.</font> </p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.86%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;margin-left:4.86%;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, and short-term marketable securities. Cash and cash equivalents are deposited in checking and sweep accounts at a financial institution. Such deposits may, at times, exceed federally insured limits. </p>
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69208000
CY2019Q2 us-gaap Restricted Cash Noncurrent
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1472000
CY2020Q2 alec Increase In Expected Cost Percentage
IncreaseInExpectedCostPercentage
0.03
CY2020Q2 us-gaap Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInEstimateOfTransactionPrice
1700000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
424700000
CY2020Q2 alec Available For Sale Securities Debt Maturities Within One Through Two Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneThroughTwoYearFairValue
68200000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
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CY2019Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2020Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10073277
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10073277
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7115341

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0001564590-20-039319-index-headers.html Edgar Link pending
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