$ALXO
ALX ONCOLOGY HOLDINGS INC

2020 Q4 Form 10-Q Financial Statement

#000156459020053615 Filed on November 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $0.00 $0.00 $1.210M
YoY Change -100.0% -100.0%
Cost Of Revenue $0.00 $0.00 $1.100M
YoY Change -100.0% -100.0%
Gross Profit $0.00 $0.00 $110.0K
YoY Change -100.0% -100.0%
Gross Profit Margin 9.09%
Selling, General & Admin $5.680M $4.480M $1.110M
YoY Change 411.71% 376.6%
% of Gross Profit 1009.09%
Research & Development $12.14M $5.328M $6.740M
YoY Change 80.12% 141.09%
% of Gross Profit 6127.27%
Depreciation & Amortization $0.00 $10.00K $110.0K
YoY Change -100.0% -90.91%
% of Gross Profit 100.0%
Operating Expenses $17.83M $9.809M $8.946M
YoY Change 99.25% 128.65%
Operating Profit -$17.83M -$9.809M -$8.836M
YoY Change 101.73% 223.3%
Interest Expense -$150.0K -$226.0K -$20.00K
YoY Change 650.0%
% of Operating Profit
Other Income/Expense, Net $10.00K -$111.0K $0.00
YoY Change
Pretax Income -$18.59M -$10.15M -$7.760M
YoY Change 139.56% 234.19%
Income Tax $180.0K $35.00K $10.00K
% Of Pretax Income
Net Earnings -$18.77M -$10.18M -$7.760M
YoY Change 141.88% 234.46%
Net Earnings / Revenue -641.32%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.015M -$274.3K -$223.6K
COMMON SHARES
Basic Shares Outstanding 37.11M 29.66M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $434.2M $259.5M
YoY Change
Cash & Equivalents $434.2M $259.5M $9.017M
Short-Term Investments
Other Short-Term Assets $1.800M $2.400M
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00 $500.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $436.0M $262.4M $9.809M
YoY Change 4344.82%
LONG-TERM ASSETS
Property, Plant & Equipment $52.00K $45.00K $860.0K
YoY Change -93.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00K $0.00 $7.000K
YoY Change 42.86%
Total Long-Term Assets $62.00K $45.00K $867.0K
YoY Change -92.85%
TOTAL ASSETS
Total Short-Term Assets $436.0M $262.4M $9.809M
Total Long-Term Assets $62.00K $45.00K $867.0K
Total Assets $436.1M $262.4M $10.68M
YoY Change 3984.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.000K $1.421M $3.748M
YoY Change -99.89%
Accrued Expenses $6.000M $2.600M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.571M
YoY Change
Total Short-Term Liabilities $6.204M $7.197M $4.984M
YoY Change 24.48%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $3.189M $5.421M
YoY Change -100.0%
Other Long-Term Liabilities $5.000K $47.00K $547.0K
YoY Change -99.09%
Total Long-Term Liabilities $5.000K $3.236M $5.968M
YoY Change -99.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.204M $7.197M $4.984M
Total Long-Term Liabilities $5.000K $3.236M $5.968M
Total Liabilities $6.209M $10.43M $10.95M
YoY Change -43.31%
SHAREHOLDERS EQUITY
Retained Earnings -$118.5M -$72.78M
YoY Change 62.85%
Common Stock $548.4M $2.143M
YoY Change 25488.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $429.8M $252.0M -$70.64M
YoY Change
Total Liabilities & Shareholders Equity $436.1M $262.4M $10.68M
YoY Change 3984.43%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income -$18.77M -$10.18M -$7.760M
YoY Change 141.88% 234.46%
Depreciation, Depletion And Amortization $0.00 $10.00K $110.0K
YoY Change -100.0% -90.91%
Cash From Operating Activities -$13.62M -$9.540M -$2.870M
YoY Change 374.56% 199.06%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$10.00K $70.00K
YoY Change -114.29%
Acquisitions
YoY Change
Other Investing Activities $0.00 $640.0K
YoY Change
Cash From Investing Activities -$10.00K $630.0K $70.00K
YoY Change -114.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 188.4M 170.3M 5.930M
YoY Change 3076.39%
NET CHANGE
Cash From Operating Activities -13.62M -9.540M -2.870M
Cash From Investing Activities -10.00K 630.0K 70.00K
Cash From Financing Activities 188.4M 170.3M 5.930M
Net Change In Cash 174.7M 161.4M 3.130M
YoY Change 5482.43% -5159.25%
FREE CASH FLOW
Cash From Operating Activities -$13.62M -$9.540M -$2.870M
Capital Expenditures -$10.00K -$10.00K $70.00K
Free Cash Flow -$13.61M -$9.530M -$2.940M
YoY Change 362.93% 198.75%

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5902000
us-gaap Interest Paid Net
InterestPaidNet
295000
us-gaap Income Taxes Paid
IncomeTaxesPaid
47000
alxo Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
26000
alxo Vesting Of Early Exercised Stock Options
VestingOfEarlyExercisedStockOptions
59000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
3000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
175043000
alxo Non Cash Accumulated Dividend On Convertible Preferred Stock
NonCashAccumulatedDividendOnConvertiblePreferredStock
3000
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;margin-bottom:0pt;margin-left:4.54%;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-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 those related to the estimated useful lives of long-lived assets, clinical trial accruals, fair value of assets and liabilities, Series B convertible preferred stock warrant liability, term loan compound derivative liability, term loan, valuation of the Company&#8217;s common stock, income taxes 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.</p>
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
924000
CY2020Q3 alxo Accrued Clinical And Non Clinical Costs Current
AccruedClinicalAndNonClinicalCostsCurrent
629000
CY2020Q3 alxo Accrued Contract Manufacturing Current
AccruedContractManufacturingCurrent
867000
CY2019Q4 alxo Accrued Contract Manufacturing Current
AccruedContractManufacturingCurrent
53000
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
240000
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On July 8, 2020, the Company’s board of directors approved an amendment to the Company’s certificate of incorporation to effect a 1-for-6.5806 reverse split of its common stock and convertible preferred stock.
CY2020Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.151961827
CY2020Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2019Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2019Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2020Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2019Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2019Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2020Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2019Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
142000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2309000
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
97000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1449000
CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
100000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
200000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
300000
CY2020Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
345000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
122000
CY2020Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1124000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
137000
CY2020Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
240000
us-gaap Interest Expense Debt
InterestExpenseDebt
700000
CY2020Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
300000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
106000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3743000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3007000
CY2020Q3 alxo Long Term Debt Maturities Repayments Of Debt Including Interest And Principal
LongTermDebtMaturitiesRepaymentsOfDebtIncludingInterestAndPrincipal
6856000
CY2020Q3 alxo Long Term Debt Maturities Repayments Of Interest
LongTermDebtMaturitiesRepaymentsOfInterest
496000
CY2020Q3 alxo Long Term Debt Maturities Repayments Of Final Payment
LongTermDebtMaturitiesRepaymentsOfFinalPayment
360000
CY2020Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
6000000
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
7692751
CY2019Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
12156391
CY2019Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
11567003
CY2019Q4 alxo Temporary Equity Shares Issued And Outstanding
TemporaryEquitySharesIssuedAndOutstanding
10313808
CY2019Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
70363000
CY2019Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
83585000
CY2020Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
61292
CY2020Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
9.4972
CY2020Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
48932
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
689000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
86000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3693000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
222000
CY2020Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
578000
CY2019Q3 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
1071000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
5202000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
2957000
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29664122
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3100544
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
12052876
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3061082
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.36
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.33
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.67
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.72
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4751842
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11573568
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4751842
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11573568
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
380000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
34000
CY2020Q3 alxo Lessee Operating Lease Liability To Be Paid Year Two And Three
LesseeOperatingLeaseLiabilityToBePaidYearTwoAndThree
284000
CY2020Q3 alxo Lessee Operating Lease Liability To Be Paid Year Four And Five
LesseeOperatingLeaseLiabilityToBePaidYearFourAndFive
62000
CY2020Q3 us-gaap Purchase Obligation
PurchaseObligation
7622000
CY2020Q3 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
6238000
CY2020Q3 us-gaap Purchase Obligation Due In Second And Third Year
PurchaseObligationDueInSecondAndThirdYear
1384000
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
6856000
CY2020Q3 us-gaap Long Term Debt Maturing In Years Two And Three
LongTermDebtMaturingInYearsTwoAndThree
6750000
CY2020Q3 us-gaap Contractual Obligation
ContractualObligation
14858000
CY2020Q3 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
6378000
CY2020Q3 us-gaap Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
8418000
CY2020Q3 us-gaap Contractual Obligation Due In Fourth And Fifth Year
ContractualObligationDueInFourthAndFifthYear
62000
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
500000
us-gaap Operating Lease Expense
OperatingLeaseExpense
600000

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