2024 Q2 Form 10-Q Financial Statement

#000095017024056953 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.872M $6.045M
YoY Change -5.8% -18.75%
% of Gross Profit
Research & Development $34.65M $31.72M
YoY Change 17.54% 28.08%
% of Gross Profit
Depreciation & Amortization $220.0K $214.0K
YoY Change 6.28% 0.47%
% of Gross Profit
Operating Expenses $41.53M $37.76M
YoY Change 12.91% 17.26%
Operating Profit -$41.53M -$37.76M
YoY Change 12.91% 17.26%
Interest Expense $429.0K $427.0K
YoY Change 15.32% 10.34%
% of Operating Profit
Other Income/Expense, Net -$8.000K -$14.00K
YoY Change -102.47% -114.74%
Pretax Income -$39.40M -$35.58M
YoY Change 15.34% 17.88%
Income Tax
% Of Pretax Income
Net Earnings -$39.40M -$35.58M
YoY Change 15.34% 17.88%
Net Earnings / Revenue
Basic Earnings Per Share -$0.76 -$0.71
Diluted Earnings Per Share -$0.76 -$0.71
COMMON SHARES
Basic Shares Outstanding 52.10M 50.15M
Diluted Shares Outstanding 51.83M 50.12M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $156.7M $157.4M
YoY Change -26.36% -30.93%
Cash & Equivalents $15.53M $14.04M
Short-Term Investments $141.2M $143.4M
Other Short-Term Assets $315.0K $9.327M
YoY Change -95.32% 103.11%
Inventory
Prepaid Expenses $1.051M
Receivables
Other Receivables
Total Short-Term Assets $168.7M $167.9M
YoY Change -23.16% -27.81%
LONG-TERM ASSETS
Property, Plant & Equipment $3.316M $3.441M
YoY Change -13.38% -12.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $29.48M $27.05M
YoY Change 153.07% -4.15%
Other Assets $13.12M $14.30M
YoY Change 20.37% 6.29%
Total Long-Term Assets $45.91M $44.79M
YoY Change 74.08% -1.79%
TOTAL ASSETS
Total Short-Term Assets $168.7M $167.9M
Total Long-Term Assets $45.91M $44.79M
Total Assets $214.6M $212.7M
YoY Change -12.73% -23.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.146M $6.227M
YoY Change 97.96% -36.63%
Accrued Expenses $28.78M $24.66M
YoY Change 113.87% 112.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $38.45M $32.23M
YoY Change 118.81% 47.22%
LONG-TERM LIABILITIES
Long-Term Debt $9.769M $9.703M
YoY Change 2.7% 2.68%
Other Long-Term Liabilities $7.083M $6.524M
YoY Change 15.06% 1.79%
Total Long-Term Liabilities $16.85M $16.23M
YoY Change 7.56% 2.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $38.45M $32.23M
Total Long-Term Liabilities $16.85M $16.23M
Total Liabilities $55.30M $48.46M
YoY Change 66.37% 28.36%
SHAREHOLDERS EQUITY
Retained Earnings -$561.3M -$521.9M
YoY Change 43.98% 46.73%
Common Stock $720.6M $686.0M
YoY Change 19.55% 15.08%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $159.3M $164.2M
YoY Change
Total Liabilities & Shareholders Equity $214.6M $212.7M
YoY Change -12.73% -23.55%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$39.40M -$35.58M
YoY Change 15.34% 17.88%
Depreciation, Depletion And Amortization $220.0K $214.0K
YoY Change 6.28% 0.47%
Cash From Operating Activities -$26.57M -$37.92M
YoY Change -16.22% 36.34%
INVESTING ACTIVITIES
Capital Expenditures $90.00K $148.0K
YoY Change -94.82% -78.55%
Acquisitions
YoY Change
Other Investing Activities $997.0K $26.62M
YoY Change -87.46% -38.07%
Cash From Investing Activities $907.0K $26.47M
YoY Change -85.4% -37.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.15M 3.086M
YoY Change 7816.03% -2984.11%
NET CHANGE
Cash From Operating Activities -26.57M -37.92M
Cash From Investing Activities 907.0K 26.47M
Cash From Financing Activities 27.15M 3.086M
Net Change In Cash 1.493M -8.365M
YoY Change -105.94% -158.2%
FREE CASH FLOW
Cash From Operating Activities -$26.57M -$37.92M
Capital Expenditures $90.00K $148.0K
Free Cash Flow -$26.66M -$38.07M
YoY Change -20.31% 33.56%

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<p style="margin-left:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the condensed consolidated financial statements in conformity with U.S. 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 revenues and expenses during the reporting periods. On an ongoing basis, management evaluates its estimates, including, but not limited to, those related to the estimated useful lives of long-lived assets, clinical trial accruals, fair value of assets and liabilities, fair value of investments and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results could differ from those estimates.</span></p>
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3441000
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CY2023Q1 us-gaap Depreciation And Amortization
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CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
26867000
CY2024Q1 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company has non-cancelable operating leases for its offices located in the U.S. As of March 31, 2024, these leases expire on various dates between 2026 and 2030.
CY2024Q1 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
Certain lease agreements include one or more options to renew, with renewal terms that can extend the lease up to two years after expiration.
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CY2024Q1 us-gaap Operating Lease Cost
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311000
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8000
CY2023Q1 us-gaap Short Term Lease Cost
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CY2024Q1 us-gaap Lease Cost
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CY2023Q1 us-gaap Lease Cost
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550000
CY2024Q1 us-gaap Operating Lease Payments
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313000
CY2023Q1 us-gaap Operating Lease Payments
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310000
CY2024Q1 us-gaap Finance Lease Interest Payment On Liability
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41000
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1000
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175000
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107000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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435000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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5217000
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4948000
CY2024Q1 us-gaap Long Term Debt
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CY2024Q1 us-gaap Long Term Debt Current
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CY2024Q1 alxo Term Loan Non Current
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10600000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount
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727000
CY2024Q1 alxo Term Loan Unamortized Final Payment
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170000
CY2024Q1 us-gaap Long Term Debt Noncurrent
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9703000
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CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Net Income Loss
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40862513
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CY2023Q1 us-gaap Earnings Per Share Diluted
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CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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7319186
CY2024Q1 alxo Number Of Pending Or Threatened Litigation
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0
CY2024Q1 us-gaap Purchase Obligation
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11379000
CY2024Q1 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
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10563000
CY2024Q1 us-gaap Purchase Obligation Due In Second And Third Year
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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