$ALRN
Aileron Therapeutics, Inc.

2017 Q3 Form 10-Q Financial Statement

#000119312517254426 Filed on August 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2017 Q2 2016 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.600M $1.790M $1.360M
YoY Change 59.51% -48.27% 5.43%
% of Gross Profit
Research & Development $3.825M $3.161M $3.092M
YoY Change 46.83% 51.53% 53.07%
% of Gross Profit
Depreciation & Amortization $40.00K $30.00K $40.00K
YoY Change -33.33% -50.0% -42.86%
% of Gross Profit
Operating Expenses $6.426M $4.952M $4.448M
YoY Change 51.84% -10.77% 34.38%
Operating Profit -$6.426M -$4.952M -$4.448M
YoY Change 51.84% -10.77%
Interest Expense $167.0K $29.00K $6.000K
YoY Change 1570.0% 81.25%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$6.260M -$4.920M -$4.440M
YoY Change 48.34% -11.03% 34.14%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$6.259M -$4.923M -$4.442M
YoY Change 48.25% -11.04% 34.2%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$425.3K -$334.5K -$301.8K
COMMON SHARES
Basic Shares Outstanding 14.71M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2017 Q2 2016 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.87M $11.34M $20.72M
YoY Change 449.47%
Cash & Equivalents $13.43M $9.397M $20.72M
Short-Term Investments $43.44M $1.946M $0.00
Other Short-Term Assets $1.250M $650.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $58.12M $11.99M $21.07M
YoY Change 422.9%
LONG-TERM ASSETS
Property, Plant & Equipment $111.0K $109.0K $107.0K
YoY Change -69.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $808.0K $782.0K $778.0K
YoY Change -50.13%
Total Long-Term Assets $919.0K $3.113M $948.0K
YoY Change -50.37%
TOTAL ASSETS
Total Short-Term Assets $58.12M $11.99M $21.07M
Total Long-Term Assets $919.0K $3.113M $948.0K
Total Assets $59.04M $15.11M $22.02M
YoY Change 270.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.650M $2.212M $1.971M
YoY Change 207.97%
Accrued Expenses $3.370M $3.260M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.023M $5.471M $4.071M
YoY Change 59.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.023M $5.471M $4.071M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $5.023M $5.471M $4.082M
YoY Change 58.22%
SHAREHOLDERS EQUITY
Retained Earnings -$130.1M -$123.8M -$114.3M
YoY Change
Common Stock $184.1M $3.044M $2.536M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $54.01M -$120.8M -$111.8M
YoY Change
Total Liabilities & Shareholders Equity $59.04M $15.11M $22.02M
YoY Change 270.72%

Cashflow Statement

Concept 2017 Q3 2017 Q2 2016 Q4
OPERATING ACTIVITIES
Net Income -$6.259M -$4.923M -$4.442M
YoY Change 48.25% -11.04% 34.2%
Depreciation, Depletion And Amortization $40.00K $30.00K $40.00K
YoY Change -33.33% -50.0% -42.86%
Cash From Operating Activities -$5.230M -$3.510M -$4.230M
YoY Change 33.42% 12.86% 54.38%
INVESTING ACTIVITIES
Capital Expenditures -$20.00K -$10.00K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$41.41M $5.320M $1.480M
YoY Change -1012.11% 22.58% 300.0%
Cash From Investing Activities -$41.44M $5.310M $1.480M
YoY Change -1012.78% 22.35% 289.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 50.71M -440.0K 18.96M
YoY Change 507000.0% 633.33% -1592.91%
NET CHANGE
Cash From Operating Activities -5.230M -3.510M -4.230M
Cash From Investing Activities -41.44M 5.310M 1.480M
Cash From Financing Activities 50.71M -440.0K 18.96M
Net Change In Cash 4.040M 1.360M 16.21M
YoY Change 541.27% 16.24% -546.56%
FREE CASH FLOW
Cash From Operating Activities -$5.230M -$3.510M -$4.230M
Capital Expenditures -$20.00K -$10.00K $0.00
Free Cash Flow -$5.210M -$3.500M -$4.230M
YoY Change 32.91% 54.38%

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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.802 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y7M6D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
412000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
126000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
588701 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
18524 shares
us-gaap Straight Line Rent
StraightLineRent
11000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
80000
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
41000
us-gaap Temporary Equity Stock Issued During Period Value New Issues
TemporaryEquityStockIssuedDuringPeriodValueNewIssues
626000
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of 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 financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of common stock and stock-based awards. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company&#x2019;s estimates.</p> </div>
alrn Payments Of Offering Costs
PaymentsOfOfferingCosts
433000
alrn Deferred Offering Costs Incurred But Not Yet Paid
DeferredOfferingCostsIncurredButNotYetPaid
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alrn Temporary Equity Stock Issuance Costs
TemporaryEquityStockIssuanceCosts
32000
alrn Temporary Equity Stock Issued During Period Shares New Issues
TemporaryEquityStockIssuedDuringPeriodSharesNewIssues
483501 shares
alrn Redeemable Convertible Preferred Stock Voting Rights
RedeemableConvertiblePreferredStockVotingRights
The holders of the Redeemable Preferred Stock are entitled to vote, together with the holders of common stock, on all matters submitted to stockholders for a vote and have the right to vote the number of shares equal to the number of whole shares of common stock into which such holders of Redeemable Preferred Stock could convert on the record date for determination of stockholders entitled to vote. In addition, holders of the Senior Preferred Stock, voting as a single class, are entitled to elect three directors of the Company. The holders of the Junior Preferred Stock, voting as a single class, are entitled to elect two directors of the Company.
alrn Temporary Equity Redemption Date
TemporaryEquityRedemptionDate
2020-12-22
alrn Temporary Equity Percentage Of Voting To Be Held By Holders Of Senior Preferred Stock For Deemed Liquidation Preference
TemporaryEquityPercentageOfVotingToBeHeldByHoldersOfSeniorPreferredStockForDeemedLiquidationPreference
0.55 pure
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
330000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10051183 shares
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
117000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
132000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-22.21
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-12000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
229000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
558000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
427679 shares
us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
1500000
alrn Temporary Equity Dividends Declared
TemporaryEquityDividendsDeclared
0
CY2016 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y4M24D
us-gaap Share Based Compensation
ShareBasedCompensation
330000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0137 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.24
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
128000
us-gaap Interest And Other Income
InterestAndOtherIncome
30000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.805 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
545000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
6000
us-gaap Straight Line Rent
StraightLineRent
29000
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
37000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
211000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-6046000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-6855000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9496000
us-gaap Operating Expenses
OperatingExpenses
9489000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
13018000
us-gaap Net Income Loss
NetIncomeLoss
-9459000
us-gaap Operating Income Loss
OperatingIncomeLoss
-9489000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
11887000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
180000
us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
5841000
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
13183000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
15000
us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
0
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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us-gaap Revenues
Revenues
0
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y2M12D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y3M19D
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
167000
CY2016Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-5539000
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-12.95
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3464000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2016Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
16000
CY2016Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
105000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
5550000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-5534000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-5550000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-5000
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-5000
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2086000
CY2016Q2 us-gaap Revenues
Revenues
0
CY2016Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
19000
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
428870 shares
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
273000
CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11954088 shares
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4923000
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-10.98
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1791000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017Q2 us-gaap Interest And Other Income
InterestAndOtherIncome
29000
CY2017Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
120000
CY2017Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4944000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
4952000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-4923000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4952000
CY2017Q2 us-gaap Redeemable Preferred Stock Dividends
RedeemablePreferredStockDividends
0
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3161000
CY2017Q2 us-gaap Revenues
Revenues
0
CY2017Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
21000
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
450495 shares
CY2017Q2 alrn Temporary Equity Dividends Declared
TemporaryEquityDividendsDeclared
0

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