$ASMB
ASSEMBLY BIOSCIENCES, INC.

2013 Q3 Form 10-Q Financial Statement

#000114420413060199 Filed on November 12, 2013

View on sec.gov

Income Statement

Concept 2013 Q3 2013 Q1 2012 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.180M $1.160M $1.180M
YoY Change 0.0% -34.46% -37.23%
% of Gross Profit
Research & Development $3.753M $2.609M $4.188M
YoY Change -10.38% -59.38% 14.12%
% of Gross Profit
Depreciation & Amortization $0.00 $1.267K $0.00
YoY Change 27.08%
% of Gross Profit
Operating Expenses $3.753M $2.609M $4.188M
YoY Change -10.38% -59.38% -24.54%
Operating Profit -$4.933M -$3.769M -$5.370M
YoY Change -8.14% -53.98%
Interest Expense $50.00K $50.00K $10.00K
YoY Change 400.0% 150.0% -103.85%
% of Operating Profit
Other Income/Expense, Net $51.27K $0.00
YoY Change
Pretax Income -$4.880M -$3.720M -$5.360M
YoY Change -8.96% -54.47% -7.59%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.882M -$3.723M -$5.355M
YoY Change -8.84% -54.45% -7.69%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$1.226M -$1.091M -$2.069M
COMMON SHARES
Basic Shares Outstanding 19.60M shares 12.93M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q3 2013 Q1 2012 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.20M $36.90M $23.60M
YoY Change 36.44% 18.65% -55.72%
Cash & Equivalents $32.22M $36.87M $23.56M
Short-Term Investments
Other Short-Term Assets $134.8K $200.0K $100.0K
YoY Change 34.78% -36.78% 0.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $32.36M $37.10M $23.70M
YoY Change 36.53% 18.22% -55.62%
LONG-TERM ASSETS
Property, Plant & Equipment $7.632K $0.00 $0.00
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.632K $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $32.36M $37.10M $23.70M
Total Long-Term Assets $7.632K $0.00 $0.00
Total Assets $32.37M $37.10M $23.70M
YoY Change 36.56% 18.19% -55.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.280M $1.500M $1.800M
YoY Change 26.68% -52.27% 50.0%
Accrued Expenses $37.42K $400.0K $800.0K
YoY Change -95.32% -43.66%
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 $2.300M $2.000M $2.700M
YoY Change -14.81% -48.09% 125.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.300M $2.000M $2.700M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.318M $2.000M $2.700M
YoY Change -14.16% -48.72% 125.0%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $20.66K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.05M $35.10M $21.00M
YoY Change
Total Liabilities & Shareholders Equity $32.37M $37.10M $23.70M
YoY Change 36.56% 18.19% -55.62%

Cashflow Statement

Concept 2013 Q3 2013 Q1 2012 Q3
OPERATING ACTIVITIES
Net Income -$4.882M -$3.723M -$5.355M
YoY Change -8.84% -54.45% -7.69%
Depreciation, Depletion And Amortization $0.00 $1.267K $0.00
YoY Change 27.08%
Cash From Operating Activities -$4.650M -$4.370M -$5.280M
YoY Change -11.93% -28.24% 29.73%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $20.80M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.390M $20.75M 0.000
YoY Change 11383.79% -100.0%
NET CHANGE
Cash From Operating Activities -4.650M -$4.370M -5.280M
Cash From Investing Activities 0.000 $0.00 0.000
Cash From Financing Activities 3.390M $20.75M 0.000
Net Change In Cash -1.260M $16.38M -5.280M
YoY Change -76.14% -377.29% -112.6%
FREE CASH FLOW
Cash From Operating Activities -$4.650M -$4.370M -$5.280M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$4.650M -$4.370M -$5.280M
YoY Change -11.93% -28.24% 29.73%

Facts In Submission

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<div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.5in"> <b><font style="FONT-SIZE: 10pt">Use of estimates:</font></b></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.5in"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"> <font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"> <font style="FONT-SIZE: 10pt">Significant estimates inherent in the preparation of the accompanying financial statements include the fair value of stock options and warrants granted to employees, consultants, directors, investors, licensors, placement agents and underwriters.</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"> <font style="FONT-SIZE: 10pt">Additionally, the Company provides a valuation allowance for deferred income tax assets when it is considered more likely than not that all or a portion of such deferred income tax assets will not be realized.</font></div> </div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4200000 USD
CY2013Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6670000 shares
CY2013Q1 vtus Stock Issued During Period Price Per Share New Issues
StockIssuedDuringPeriodPricePerShareNewIssues
2.50
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
18028686 USD
vtus Restricted Stock Expensed Percentage
RestrictedStockExpensedPercentage
0.25 pure
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1135000 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
30000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y
CY2013Q3 vtus Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
7.77
CY2013Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
vtus Class Of Warrant Or Right Grants In Period Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightGrantsInPeriodWeightedAverageExercisePriceOfWarrantsOrRights
0
vtus Class Of Warrant Or Right Expired In Period Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExpiredInPeriodWeightedAverageExercisePriceOfWarrantsOrRights
0
CY2012Q4 vtus Class Of Warrant Or Right Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightWeightedAverageExercisePriceOfWarrantsOrRights
7.67
vtus Class Of Warrant Or Right Exercisable Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisableWeightedAverageExercisePriceOfWarrantsOrRights
7.77
CY2012Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
USD
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1878475 shares
vtus Share Based Compensation Arrangement By Share Based Payment Award Option Vested And Expected To Vest Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionVestedAndExpectedToVestGranted
280000 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2158475 shares
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1597449 shares
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.72
vtus Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Granted Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestGrantedWeightedAverageExercisePrice
2.94
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.23
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
0 USD
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Grant Date Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue
0
CY2013Q3 vtus Future Stock Based Compensation Expense Year Two
FutureStockBasedCompensationExpenseYearTwo
278672 USD
CY2013Q3 vtus Future Stock Based Compensation Expense Year Three
FutureStockBasedCompensationExpenseYearThree
625436 USD
CY2013Q3 vtus Future Stock Based Compensation Expense Year Four
FutureStockBasedCompensationExpenseYearFour
146908 USD
CY2013Q3 vtus Future Stock Based Compensation Expense Total
FutureStockBasedCompensationExpenseTotal
99920 USD
CY2013Q3 vtus Future Stockbased Compensation Expense Year Six
FutureStockbasedCompensationExpenseYearSix
20239 USD
CY2013Q3 vtus Future Stock Based Compensation Expense Year Five
FutureStockBasedCompensationExpenseYearFive
1171175 USD
vtus Class Of Warrant Or Right Expirations In Period Weighted Average Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExpirationsInPeriodWeightedAverageExercisePriceOfWarrantsOrRights
1.24
vtus Share Based Compensation Arrangement By Share Based Payment Award Restricted Value Granted In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardRestrictedValueGrantedInPeriod
117885 USD
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
51266 USD
CY2012Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
14906 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
154009 USD

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