$ANNX
Annexon, Inc.

2021 Q4 Form 10-K Financial Statement

#000156459022008044 Filed on March 01, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 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 $10.24M $30.65M $5.200M
YoY Change 96.94% 115.82% 123.18%
% of Gross Profit
Research & Development $27.22M $100.1M $17.99M
YoY Change 51.29% 103.09% 164.56%
% of Gross Profit
Depreciation & Amortization $506.0K $2.141M $280.0K
YoY Change 80.71% 220.99% 115.38%
% of Gross Profit
Operating Expenses $37.46M $130.7M $23.19M
YoY Change 61.53% 105.95% 154.0%
Operating Profit -$130.7M
YoY Change 105.95%
Interest Expense $5.000K
YoY Change -50.0%
% of Operating Profit
Other Income/Expense, Net $87.00K $385.0K -$10.00K
YoY Change -970.0% 575.44%
Pretax Income -$37.37M -$130.3M -$23.20M
YoY Change 61.08% 105.52% 159.51%
Income Tax -$10.00K
% Of Pretax Income
Net Earnings -$37.37M -$130.3M -$23.19M
YoY Change 61.15% 105.52% 159.4%
Net Earnings / Revenue
Basic Earnings Per Share -$3.40
Diluted Earnings Per Share -$971.2K -$3.401M -$605.3K
COMMON SHARES
Basic Shares Outstanding 38.32M
Diluted Shares Outstanding 38.32M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $242.7M $242.7M $351.2M
YoY Change -30.89% -30.89% 700.01%
Cash & Equivalents $74.84M $74.84M $268.6M
Short-Term Investments $167.9M $167.9M $82.64M
Other Short-Term Assets $463.0K $4.978M $3.000K
YoY Change 15333.33% 77.79% -96.2%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $247.7M $247.7M $354.0M
YoY Change -30.03% -30.03% 679.66%
LONG-TERM ASSETS
Property, Plant & Equipment $17.85M $38.18M $1.935M
YoY Change 822.38% 1909.53% -9.49%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.166M $1.166M $0.00
YoY Change -100.0%
Total Long-Term Assets $39.35M $39.35M $1.935M
YoY Change 1933.44% 1970.89% -56.92%
TOTAL ASSETS
Total Short-Term Assets $247.7M $247.7M $354.0M
Total Long-Term Assets $39.35M $39.35M $1.935M
Total Assets $287.0M $287.0M $355.9M
YoY Change -19.36% -19.35% 613.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.15M $11.15M $3.734M
YoY Change 198.69% 201.43% 57.49%
Accrued Expenses $9.250M $10.45M $6.497M
YoY Change 42.37% 60.8% 196.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.74M $21.74M $10.62M
YoY Change 104.71% 105.13% 115.41%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $33.39M $33.39M $1.000M
YoY Change 3238.7% 3238.7% -28.57%
Total Long-Term Liabilities $33.39M $33.39M $1.000M
YoY Change 3238.7% 3238.7% -28.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.74M $21.74M $10.62M
Total Long-Term Liabilities $33.39M $33.39M $1.000M
Total Liabilities $55.13M $55.13M $11.67M
YoY Change 372.5% 371.21% 83.23%
SHAREHOLDERS EQUITY
Retained Earnings -$296.3M -$166.0M
YoY Change 78.51% 61.82%
Common Stock $39.00K $38.00K
YoY Change 2.63% 850.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $231.9M $231.9M $344.3M
YoY Change
Total Liabilities & Shareholders Equity $287.0M $287.0M $355.9M
YoY Change -19.36% -19.35% 613.35%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$37.37M -$130.3M -$23.19M
YoY Change 61.15% 105.52% 159.4%
Depreciation, Depletion And Amortization $506.0K $2.141M $280.0K
YoY Change 80.71% 220.99% 115.38%
Cash From Operating Activities -$28.32M -$106.1M -$19.26M
YoY Change 47.05% 99.88% 119.11%
INVESTING ACTIVITIES
Capital Expenditures -$855.0K $1.654M -$170.0K
YoY Change 402.94% 256.47% 70.0%
Acquisitions
YoY Change
Other Investing Activities $34.55M -$86.58M -$82.70M
YoY Change -141.78% 4.69%
Cash From Investing Activities $33.70M -$88.24M -$82.87M
YoY Change -140.66% 6.1% 82770.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 948.0K 1.795M 0.000
YoY Change -99.5% -100.0%
NET CHANGE
Cash From Operating Activities -28.32M -106.1M -19.26M
Cash From Investing Activities 33.70M -88.24M -82.87M
Cash From Financing Activities 948.0K 1.795M 0.000
Net Change In Cash 6.324M -192.6M -102.1M
YoY Change -106.19% -185.72% 949.64%
FREE CASH FLOW
Cash From Operating Activities -$28.32M -$106.1M -$19.26M
Capital Expenditures -$855.0K $1.654M -$170.0K
Free Cash Flow -$27.47M -$107.8M -$19.09M
YoY Change 43.88% 101.24% 119.68%

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<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#231F20;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:3.78%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, or 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 financial statements and the reported expenses during the reporting period. Management evaluates its estimates, including but not limited to the fair value of investments, stock options, income taxes, clinical trial accruals and stock-based compensation. 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.</p>
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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#231F20;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:3.78%;color:#231F20;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and short-term investments. The Company’s cash<span style="color:#000000;"> and </span>cash equivalents and short-term investments are held by high credit quality financial institutions in the United States. At times, such deposits may be in excess of the Federal Depository Insurance Corporation insured limits.<span style="color:#000000;"> Management </span>believes that the financial institutions are financially sound, and accordingly, minimal credit risk exists with respect to the financial institutions.</p>
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OperatingLeaseExpense
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CY2021 us-gaap Common Stock Voting Rights
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The holders of the Company’s common stock have one vote for each share of common stock.
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
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