$ASMB
Assembly Biosciences Inc

2017 Q3 Form 10-Q Financial Statement

#000114420417055501 Filed on November 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $2.660M $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.180M $2.850M
YoY Change 46.67% 14.46%
% of Gross Profit
Research & Development $10.93M $8.833M
YoY Change 23.73% 90.77%
% of Gross Profit
Depreciation & Amortization $41.85K $18.00K
YoY Change 132.48% 0.0%
% of Gross Profit
Operating Expenses $10.93M $8.833M
YoY Change 23.73% 90.77%
Operating Profit -$12.45M -$11.68M
YoY Change 6.6% 63.98%
Interest Expense $140.0K $100.0K
YoY Change 40.0% -80.0%
% of Operating Profit
Other Income/Expense, Net $142.3K
YoY Change
Pretax Income -$12.31M -$11.57M
YoY Change 6.34% 74.84%
Income Tax -$35.90K $0.00
% Of Pretax Income
Net Earnings -$12.27M -$11.57M
YoY Change 6.03% 74.89%
Net Earnings / Revenue -461.42%
Basic Earnings Per Share
Diluted Earnings Per Share -$706.4K -$671.5K
COMMON SHARES
Basic Shares Outstanding 17.36M shares 17.23M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.30M $58.60M
YoY Change 13.14% -10.94%
Cash & Equivalents $27.25M $23.79M
Short-Term Investments $39.10M $34.90M
Other Short-Term Assets $1.000M $600.0K
YoY Change 66.67% -14.93%
Inventory
Prepaid Expenses
Receivables $1.400M
Other Receivables $0.00
Total Short-Term Assets $68.70M $59.30M
YoY Change 15.85% -10.83%
LONG-TERM ASSETS
Property, Plant & Equipment $600.0K $100.0K
YoY Change 500.0% -36.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.400M $8.100M
YoY Change -82.72% -74.2%
Other Assets
YoY Change
Total Long-Term Assets $43.66M $49.87M
YoY Change -12.45% -31.82%
TOTAL ASSETS
Total Short-Term Assets $68.70M $59.30M
Total Long-Term Assets $43.66M $49.87M
Total Assets $112.3M $109.1M
YoY Change 2.93% -21.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $900.0K $3.800M
YoY Change -76.32% 153.33%
Accrued Expenses $6.400M $3.600M
YoY Change 77.78% 203.23%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.20M $7.500M
YoY Change 62.67% 182.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $41.80M
YoY Change
Total Long-Term Liabilities $52.96M $11.60M
YoY Change 356.56% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.20M $7.500M
Total Long-Term Liabilities $52.96M $11.60M
Total Liabilities $65.20M $19.10M
YoY Change 241.36% 34.02%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.10M $90.00M
YoY Change
Total Liabilities & Shareholders Equity $112.3M $109.1M
YoY Change 2.93% -21.88%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$12.27M -$11.57M
YoY Change 6.03% 74.89%
Depreciation, Depletion And Amortization $41.85K $18.00K
YoY Change 132.48% 0.0%
Cash From Operating Activities -$10.96M -$7.860M
YoY Change 39.44% 51.74%
INVESTING ACTIVITIES
Capital Expenditures -$500.0K -$40.00K
YoY Change 1150.0%
Acquisitions
YoY Change
Other Investing Activities -$1.010M $11.35M
YoY Change -108.9% -193.11%
Cash From Investing Activities -$1.510M $11.32M
YoY Change -113.34% -192.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 260.0K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -10.96M -7.860M
Cash From Investing Activities -1.510M 11.32M
Cash From Financing Activities 260.0K 0.000
Net Change In Cash -12.21M 3.460M
YoY Change -452.89% -120.22%
FREE CASH FLOW
Cash From Operating Activities -$10.96M -$7.860M
Capital Expenditures -$500.0K -$40.00K
Free Cash Flow -$10.46M -$7.820M
YoY Change 33.76% 50.97%

Facts In Submission

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us-gaap Revenue Recognition Milestone Method Description
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the Company is eligible to receive up to approximately $630 million in payments related to seven development milestones and up to approximately $2.15 billion in payments related to 12 commercial development and sales milestones in connection with the successful development and commercialization of licensed compounds for up to six different indications
us-gaap Use Of Estimates
UseOfEstimates
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 28.6pt; MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"><strong><font style="FONT-SIZE: 10pt">Use of Estimates</font></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 28.6pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that may 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 revenues 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;TEXT-INDENT: 26.4pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Significant estimates inherent in the preparation of the accompanying financial statements include recoverability and useful lives (indefinite or finite) of intangible assets, assessment of impairment of goodwill, and the fair value of stock options and warrants granted to employees, consultants, directors, investors, licensors, placement agents and underwriters. In addition, with the Company entering into the Collaboration Agreement, the Company believes its condensed consolidated financial statements are also impacted by the following accounting estimates and judgments: (i) identifying deliverables under collaboration agreements involving multiple elements and determining whether such deliverables are separable from other aspects of the contractual relationship; (ii) estimating the selling price of deliverables for the purpose of allocating arrangement consideration for revenue recognition; and (iii) estimating the periods over which the allocated consideration for deliverables is recognized.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 26.4pt; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The Company&#8217;s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible that these external factors could have an effect on the Company&#8217;s estimates and could cause actual results to differ from those estimates and assumptions.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2017Q3 us-gaap Cost Of Reimbursable Expense
CostOfReimbursableExpense
1400000 USD
us-gaap Cost Of Reimbursable Expense
CostOfReimbursableExpense
2500000 USD
asmb Deferred Revenueamortization Period Over Service Tenure
DeferredRevenueamortizationPeriodOverServiceTenure
P10Y
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
139019 shares
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-35903 USD
CY2016Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
27287602 USD
CY2016Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
9610 USD
CY2016Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
473056 USD
CY2016Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
26824156 USD

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