2022 Q4 Form 10-Q Financial Statement

#000173728722000083 Filed on November 02, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $47.00K $49.00K
YoY Change -7.84% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $21.00M $18.90M
YoY Change 5.22% -0.54%
% of Gross Profit
Research & Development $75.42M $63.64M
YoY Change 39.71% 8.38%
% of Gross Profit
Depreciation & Amortization $3.068M $3.860M
YoY Change -27.68% 65.67%
% of Gross Profit
Operating Expenses $96.42M $82.54M
YoY Change 30.4% 6.2%
Operating Profit -$82.49M
YoY Change 6.2%
Interest Expense $2.757M $1.002M
YoY Change 1382.26% 154.96%
% of Operating Profit
Other Income/Expense, Net -$1.230M -$659.0K
YoY Change 5.94% 27.71%
Pretax Income -$94.85M -$83.15M
YoY Change 26.69% 6.35%
Income Tax
% Of Pretax Income
Net Earnings -$94.85M -$83.15M
YoY Change 26.69% 6.35%
Net Earnings / Revenue -201802.13% -169689.8%
Basic Earnings Per Share -$0.58
Diluted Earnings Per Share -$0.66 -$0.58
COMMON SHARES
Basic Shares Outstanding 144.2M shares 143.7M shares
Diluted Shares Outstanding 143.7M shares

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $517.3M $552.2M
YoY Change 13.12% 14.22%
Cash & Equivalents $61.90M $74.36M
Short-Term Investments $455.4M $477.9M
Other Short-Term Assets $11.50M $16.83M
YoY Change -17.95% -13.12%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $528.8M $569.1M
YoY Change 12.2% 13.17%
LONG-TERM ASSETS
Property, Plant & Equipment $112.8M $114.4M
YoY Change -8.25% -9.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $71.97M $99.15M
YoY Change -80.56% -74.97%
Other Assets $9.564M $9.378M
YoY Change 64.47% 52.24%
Total Long-Term Assets $288.3M $318.5M
YoY Change -49.19% -44.74%
TOTAL ASSETS
Total Short-Term Assets $528.8M $569.1M
Total Long-Term Assets $288.3M $318.5M
Total Assets $817.1M $887.6M
YoY Change -21.33% -17.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.89M $11.05M
YoY Change 35.45% -3.95%
Accrued Expenses $39.74M $36.94M
YoY Change 5.99% -11.26%
Deferred Revenue $885.0K $889.0K
YoY Change 109.22% 143.56%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $54.52M $48.87M
YoY Change 13.17% -8.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.569M $2.033M
YoY Change -61.96% -60.71%
Total Long-Term Liabilities $1.569M $2.033M
YoY Change -61.96% -60.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.52M $48.87M
Total Long-Term Liabilities $1.569M $2.033M
Total Liabilities $151.2M $147.6M
YoY Change 23.71% 35.05%
SHAREHOLDERS EQUITY
Retained Earnings -$1.236B -$1.100B
YoY Change 36.82% 32.77%
Common Stock $1.912B $1.894B
YoY Change 4.91% 5.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $665.9M $740.0M
YoY Change
Total Liabilities & Shareholders Equity $817.1M $887.6M
YoY Change -21.33% -17.76%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income -$94.85M -$83.15M
YoY Change 26.69% 6.35%
Depreciation, Depletion And Amortization $3.068M $3.860M
YoY Change -27.68% 65.67%
Cash From Operating Activities -$62.10M -$47.66M
YoY Change 36.67% -2.5%
INVESTING ACTIVITIES
Capital Expenditures $1.692M -$223.0K
YoY Change -329.89% -93.34%
Acquisitions
YoY Change
Other Investing Activities $51.29M $25.13M
YoY Change 71.04% 53.59%
Cash From Investing Activities $49.60M $24.90M
YoY Change 69.56% 91.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 46.00K 1.066M
YoY Change -85.71% -55.27%
NET CHANGE
Cash From Operating Activities -62.10M -47.66M
Cash From Investing Activities 49.60M 24.90M
Cash From Financing Activities 46.00K 1.066M
Net Change In Cash -12.45M -21.68M
YoY Change -21.5% -35.24%
FREE CASH FLOW
Cash From Operating Activities -$62.10M -$47.66M
Capital Expenditures $1.692M -$223.0K
Free Cash Flow -$63.79M -$47.43M
YoY Change 42.7% 4.18%

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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 $637.3 million as of September 30, 2022. Since inception through September 30, 2022, the Company has incurred cumulative net losses of $1.1 billion. 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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us-gaap Use Of Estimates
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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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CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2018Q3 us-gaap Lessee Operating Lease Term Of Contract
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price
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CY2021Q3 us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Lease Cost
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CY2022Q3 allo Lessee Operating Lease Liability Payments Due After Year Four
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CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2022Q3 us-gaap Operating Lease Liability
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allo Number Of Shares As Percentage Of Common Shares Outstanding
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CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2022Q3 us-gaap Allocated Share Based Compensation Expense
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CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2022Q3 us-gaap Deferred Compensation Sharebased Arrangements Liability Classified Noncurrent
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CY2021Q4 us-gaap Deferred Compensation Sharebased Arrangements Liability Classified Noncurrent
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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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17865667 shares

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