$ALXO
ALX ONCOLOGY HOLDINGS INC

2021 Q2 Form 10-Q Financial Statement

#000156459021044024 Filed on August 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $0.00 $527.0K $655.0K
YoY Change -100.0% -59.31% -36.41%
Cost Of Revenue $0.00 $480.0K $600.0K
YoY Change -100.0% -59.32% -36.17%
Gross Profit $0.00 $50.00K $60.00K
YoY Change -100.0% -58.33% -33.33%
Gross Profit Margin 9.49% 9.16%
Selling, General & Admin $5.086M $3.170M $1.470M
YoY Change 60.44% 366.18% 149.15%
% of Gross Profit 6340.0% 2450.0%
Research & Development $11.21M $7.663M $3.830M
YoY Change 46.33% 111.22% 2.68%
% of Gross Profit 15326.0% 6383.33%
Depreciation & Amortization $1.000K $80.00K $113.0K
YoY Change -98.75% -27.27% 13.0%
% of Gross Profit 160.0% 188.33%
Operating Expenses $16.30M $11.31M $5.897M
YoY Change 44.06% 106.31% 12.13%
Operating Profit -$16.30M -$10.79M -$5.242M
YoY Change 51.1% 157.51% 1.41%
Interest Expense $23.00K -$219.0K -$215.0K
YoY Change -110.5%
% of Operating Profit
Other Income/Expense, Net $2.000K -$310.0K $7.000K
YoY Change -100.65%
Pretax Income -$16.27M -$11.31M -$5.450M
YoY Change 43.88% 170.02% 28.84%
Income Tax $0.00 $20.00K $4.000K
% Of Pretax Income
Net Earnings -$16.27M -$11.33M -$5.454M
YoY Change 43.62% 169.98% 28.69%
Net Earnings / Revenue -2150.09% -832.67%
Basic Earnings Per Share -$0.40
Diluted Earnings Per Share -$0.40 -$306.5K -$157.0K
COMMON SHARES
Basic Shares Outstanding 40.25M 3.165M 3.143M
Diluted Shares Outstanding 40.25M

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $410.0M $98.10M $105.0M
YoY Change 317.9%
Cash & Equivalents $410.0M $98.10M $105.0M
Short-Term Investments
Other Short-Term Assets $2.313M $2.000M $1.200M
YoY Change 15.65%
Inventory
Prepaid Expenses
Receivables $500.0K $1.200M
Other Receivables $0.00 $0.00
Total Short-Term Assets $412.3M $100.7M $107.4M
YoY Change 309.41%
LONG-TERM ASSETS
Property, Plant & Equipment $167.0K $0.00 $800.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.845M $2.411M $200.0K
YoY Change 266.86%
Total Long-Term Assets $9.012M $2.412M $1.000M
YoY Change 273.63%
TOTAL ASSETS
Total Short-Term Assets $412.3M $100.7M $107.4M
Total Long-Term Assets $9.012M $2.412M $1.000M
Total Assets $421.3M $103.1M $108.4M
YoY Change 308.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.806M $1.865M $2.000M
YoY Change 211.31%
Accrued Expenses $7.744M $3.500M $900.0K
YoY Change 121.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $429.0K $1.714M $900.0K
YoY Change -74.97%
Total Short-Term Liabilities $13.98M $7.719M $4.000M
YoY Change 81.1%
LONG-TERM LIABILITIES
Long-Term Debt $489.0K $3.928M $4.700M
YoY Change -87.55%
Other Long-Term Liabilities $2.296M $800.0K $600.0K
YoY Change 187.0%
Total Long-Term Liabilities $2.296M $3.928M $5.300M
YoY Change -41.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.98M $7.719M $4.000M
Total Long-Term Liabilities $2.296M $3.928M $5.300M
Total Liabilities $16.28M $11.65M $9.300M
YoY Change 39.74%
SHAREHOLDERS EQUITY
Retained Earnings -$89.57M
YoY Change
Common Stock $5.169M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $405.0M -$84.40M -$75.93M
YoY Change
Total Liabilities & Shareholders Equity $421.3M $103.1M $108.4M
YoY Change 308.57%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$16.27M -$11.33M -$5.454M
YoY Change 43.62% 169.98% 28.69%
Depreciation, Depletion And Amortization $1.000K $80.00K $113.0K
YoY Change -98.75% -27.27% 13.0%
Cash From Operating Activities -$20.62M -$6.170M -$8.963M
YoY Change 234.15% 42.49% 132.2%
INVESTING ACTIVITIES
Capital Expenditures $3.000K $0.00 $10.00K
YoY Change -100.0% -108.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $3.000K $0.00 -$10.00K
YoY Change -100.0% -91.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 729.0K -770.0K 105.0M
YoY Change -194.68% -108.17%
NET CHANGE
Cash From Operating Activities -20.62M -6.170M -8.963M
Cash From Investing Activities 3.000K 0.000 -10.00K
Cash From Financing Activities 729.0K -770.0K 105.0M
Net Change In Cash -19.89M -6.940M 96.02M
YoY Change 186.53% -244.58% -2512.51%
FREE CASH FLOW
Cash From Operating Activities -$20.62M -$6.170M -$8.963M
Capital Expenditures $3.000K $0.00 $10.00K
Free Cash Flow -$20.62M -$6.170M -$8.973M
YoY Change 234.2% 53.1% 139.92%

Facts In Submission

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us-gaap Prior Period Reclassification Adjustment Description
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<p style="margin-top:6pt;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;">Reclassifications</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;">Certain reclassifications have also been made within the condensed consolidated balance sheet as of December 31, 2020 to conform to the current year presentation. The Company reclassified approximately $0.1 million out of accrued expenses and other current liabilities into payable and accrued liabilities due to related-party. Total current liabilities as of December 31, 2020 did not change as a result of these reclassifications. </p> <p style="margin-top:0pt;margin-bottom:0pt;text-indent:4.54%;font-size:2pt;"> </p>
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<p style="margin-top:0pt;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, 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 materially differ from those estimates.</p>
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CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
33000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
167000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
52000
CY2020Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
100000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
200000
CY2021Q2 alxo Accrued Clinical And Non Clinical Costs Current
AccruedClinicalAndNonClinicalCostsCurrent
3325000
CY2020Q4 alxo Accrued Clinical And Non Clinical Costs Current
AccruedClinicalAndNonClinicalCostsCurrent
1401000
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1769000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1974000
CY2021Q2 alxo Accrued Contract Manufacturing Current
AccruedContractManufacturingCurrent
1322000
CY2020Q4 alxo Accrued Contract Manufacturing Current
AccruedContractManufacturingCurrent
2123000
CY2021Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
429000
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
225000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
300000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
205000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
151000
CY2021Q2 alxo Operating Lease Liability With Related Party Current
OperatingLeaseLiabilityWithRelatedPartyCurrent
110000
CY2020Q4 alxo Accrued Federal Income Tax
AccruedFederalIncomeTax
179000
CY2021Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
7385000
us-gaap Lessee Finance Lease Option To Extend
LesseeFinanceLeaseOptionToExtend
no
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2100000
CY2021Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
1000000.0
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
78000
CY2021Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
216000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
519000
CY2021Q2 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
432000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
482000
CY2021Q2 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
288000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
433000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
446000
CY2021Q2 alxo Operating Lease Liabilities Payments Due Thereafter
OperatingLeaseLiabilitiesPaymentsDueThereafter
302000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2260000
CY2021Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
936000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
202000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1807000
CY2021Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
489000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2058000
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
918000
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.034
CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.017
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
62000
us-gaap Operating Lease Cost
OperatingLeaseCost
97000
CY2021Q2 alxo Variable Lease Cost And Other Net
VariableLeaseCostAndOtherNet
17000
alxo Variable Lease Cost And Other Net
VariableLeaseCostAndOtherNet
39000
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
90000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
145000
CY2021Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
3000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6000
CY2021Q2 us-gaap Lease Cost
LeaseCost
172000
us-gaap Lease Cost
LeaseCost
287000
us-gaap Operating Lease Payments
OperatingLeasePayments
102000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
3000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
73000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1812000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
834000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
140000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two And Three Years
OperatingLeasesFutureMinimumPaymentsDueInTwoAndThreeYears
206000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
346000
CY2020Q2 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
309000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
395000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-13972000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-30459000
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
40325270
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
39844522
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1000000000
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9604231
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
8092751
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2237000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2853000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4037000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3004000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-16274000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-11331000
us-gaap Net Income Loss
NetIncomeLoss
-30459000
us-gaap Net Income Loss
NetIncomeLoss
-16785000
CY2020Q2 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
2641000
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
4624000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-16274000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-21409000
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40247110
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3164707
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40151802
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
3157387
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.40
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.41
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.76
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-6.78
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4421243
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25309789

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