2022 Q2 Form 10-Q Financial Statement

#000173728722000035 Filed on May 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $86.00K $61.00K $51.00K
YoY Change 95.45% -99.84%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $19.51M $19.90M $19.96M
YoY Change 3.87% 21.62% 16.53%
% of Gross Profit
Research & Development $57.17M $60.16M $53.98M
YoY Change 9.33% 9.01% 3.36%
% of Gross Profit
Depreciation & Amortization $3.675M $3.692M $4.242M
YoY Change 87.31% 92.49% 129.3%
% of Gross Profit
Operating Expenses $76.68M $80.05M $73.94M
YoY Change 7.89% 11.89% 6.61%
Operating Profit -$76.59M -$79.99M
YoY Change 7.83% 140.93%
Interest Expense $315.0K $492.0K $186.0K
YoY Change -49.52% -3.53% -88.08%
% of Operating Profit
Other Income/Expense, Net $1.492M $142.0K -$1.161M
YoY Change 1504.3% -23.66% 50.78%
Pretax Income -$74.79M -$79.85M -$74.87M
YoY Change 5.43% 141.82% 9.18%
Income Tax
% Of Pretax Income
Net Earnings -$74.79M -$79.85M -$74.87M
YoY Change 5.43% 141.86% 9.18%
Net Earnings / Revenue -86961.63% -130901.64% -146800.0%
Basic Earnings Per Share -$0.52 -$0.56
Diluted Earnings Per Share -$521.6K -$0.56 -$537.8K
COMMON SHARES
Basic Shares Outstanding 143.6M shares 141.4M shares 142.5M shares
Diluted Shares Outstanding 143.4M shares 141.4M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $490.5M $449.1M $457.3M
YoY Change -16.54% -35.81% -44.76%
Cash & Equivalents $96.04M $84.51M $173.3M
Short-Term Investments $394.5M $364.5M $284.0M
Other Short-Term Assets $22.54M $20.69M $14.02M
YoY Change 55.81% 25.42% -18.48%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $513.0M $469.7M $471.3M
YoY Change -14.8% -34.4% -44.23%
LONG-TERM ASSETS
Property, Plant & Equipment $204.1M $120.2M $123.0M
YoY Change 62.65% -2.39% 3.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $211.3M $298.3M $370.2M
YoY Change -38.63% 5.07% 78.06%
Other Assets $19.23M $9.042M $5.815M
YoY Change 229.9% 44.1% 12.5%
Total Long-Term Assets $434.6M $494.9M $567.3M
YoY Change -17.15% 6.89% 48.24%
TOTAL ASSETS
Total Short-Term Assets $513.0M $469.7M $471.3M
Total Long-Term Assets $434.6M $494.9M $567.3M
Total Assets $947.6M $964.6M $1.039B
YoY Change -15.89% -18.19% -15.41%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.713M $8.708M $10.26M
YoY Change -11.74% -41.46% -1.3%
Accrued Expenses $34.36M $27.76M $37.50M
YoY Change -0.95% -30.07% -16.49%
Deferred Revenue $104.0K $406.0K $423.0K
YoY Change -65.9% 69.87% -98.92%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $44.91M $36.88M $48.17M
YoY Change -2.37% -32.77% -48.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $100.8M $3.490M $4.125M
YoY Change 1666.63% 25.04% 33.8%
Total Long-Term Liabilities $100.8M $3.490M $4.125M
YoY Change 1666.63% 25.04% 33.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $44.91M $36.88M $48.17M
Total Long-Term Liabilities $100.8M $3.490M $4.125M
Total Liabilities $145.7M $109.4M $122.2M
YoY Change 41.57% 0.13% -17.53%
SHAREHOLDERS EQUITY
Retained Earnings -$1.053B -$983.2M -$903.3M
YoY Change 40.4% 44.72% 39.76%
Common Stock $1.871B $1.848B $1.822B
YoY Change 5.46% 5.63% 5.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $801.9M $855.2M $916.4M
YoY Change
Total Liabilities & Shareholders Equity $947.6M $964.6M $1.039B
YoY Change -15.89% -18.19% -15.41%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$74.79M -$79.85M -$74.87M
YoY Change 5.43% 141.86% 9.18%
Depreciation, Depletion And Amortization $3.675M $3.692M $4.242M
YoY Change 87.31% 92.49% 129.3%
Cash From Operating Activities -$42.53M -$68.24M -$45.44M
YoY Change 3.31% 38.33% 355.73%
INVESTING ACTIVITIES
Capital Expenditures -$1.374M $1.902M -$736.0K
YoY Change -87.4% -70.56% -95.77%
Acquisitions
YoY Change
Other Investing Activities $55.41M -$20.48M $29.99M
YoY Change 56.1% -119.83% -24.3%
Cash From Investing Activities $54.03M -$22.38M $29.25M
YoY Change 119.72% -123.12% 31.7%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 24.00K $1.814M 322.0K
YoY Change -99.25% -69.99% -97.52%
NET CHANGE
Cash From Operating Activities -42.53M -$68.24M -45.44M
Cash From Investing Activities 54.03M -$22.38M 29.25M
Cash From Financing Activities 24.00K $1.814M 322.0K
Net Change In Cash 11.53M -$88.80M -15.86M
YoY Change -186.29% -265.94% -162.9%
FREE CASH FLOW
Cash From Operating Activities -$42.53M -$68.24M -$45.44M
Capital Expenditures -$1.374M $1.902M -$736.0K
Free Cash Flow -$41.16M -$70.14M -$44.70M
YoY Change 35.99% 25.72% -700.81%

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Description of Business<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Allogene Therapeutics, Inc. (the Company or Allogene) was incorporated on November 30, 2017 in the State of Delaware and is headquartered in South San Francisco, California. Allogene is an immuno-oncology company pioneering the development and commercialization of genetically engineered allogeneic T cell therapies for the treatment of cancer. The Company is developing a pipeline of off-the-shelf T cell product candidates that are designed to target and kill cancer cells.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Need for Additional Capital</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has sustained operating losses and expects to continue to generate operating losses for the foreseeable future. The Company’s ultimate success depends on the outcome of its research and development activities as well as the ability to commercialize the Company's product candidates. </span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company had cash and cash equivalents and investments of $733.1 million as of March 31, 2022. Since inception through March 31, 2022, the Company has incurred cumulative net losses of $983.2 million. Management expects to incur additional losses in the future to fund its operations and conduct product research and development and recognizes the need to raise additional capital to fully implement its business plan.</span></div><div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company intends to raise additional capital through the issuance of equity securities, debt financings or other sources in order to further implement its business plan. However, if such financing is not available when needed and at adequate levels, the Company will need to reevaluate its operating plan and may be required to delay the development of its product candidates. The Company expects that its cash and cash equivalents and investments will be sufficient to fund its operations for a period of at least one year from the date the accompanying unaudited condensed consolidated financial statements are filed with the Securities and Exchange Commission (SEC). </span></div>The Company cannot at this time predict the specific extent, duration, or full impact that the ongoing COVID-19 pandemic will have on its financial condition and operations. The impact of the COVID-19 pandemic on the financial performance of the Company will depend on future developments, including the duration and spread of the pandemic and related governmental advisories and restrictions. These developments and the impact of the COVID-19 pandemic on the financial markets and the overall economy are highly uncertain. If business conditions, financial markets and/or the overall economy are impacted for an extended period, the Company’s results may be adversely affected.
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Use of EstimatesThe 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 as of the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include but are not limited to the fair value of stock options, fair value of investments, income tax uncertainties, and certain accruals. The Company evaluates its estimates and 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 differ from those estimates.
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CY2022Q1 us-gaap Property Plant And Equipment Net
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