2018 Q4 Form 10-Q Financial Statement

#000114420418058118 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $3.735M $4.286M $3.315M
YoY Change 12.67% 61.15%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.810M $7.750M $5.000M
YoY Change 76.2% 85.41% 53.85%
% of Gross Profit
Research & Development $21.25M $19.11M $10.60M
YoY Change 100.47% 74.84% 22.97%
% of Gross Profit
Depreciation & Amortization $170.0K $200.0K $100.0K
YoY Change 70.0% 377.94% 400.0%
% of Gross Profit
Operating Expenses $30.06M $26.86M $15.60M
YoY Change 92.67% 145.77% 31.42%
Operating Profit -$22.58M
YoY Change 81.33%
Interest Expense $1.300M $1.030M $330.0K
YoY Change 293.94% 635.71% -210.0%
% of Operating Profit
Other Income/Expense, Net $1.034M
YoY Change 626.85%
Pretax Income -$25.02M -$21.54M -$11.95M
YoY Change 109.37% 75.02% -1.73%
Income Tax $1.140M -$6.000K -$340.0K
% Of Pretax Income
Net Earnings -$26.16M -$21.54M -$3.007M
YoY Change 770.0% 75.48% -73.96%
Net Earnings / Revenue -700.43% -502.47% -90.71%
Basic Earnings Per Share -$0.87
Diluted Earnings Per Share -$1.026M -$0.87 -$158.3K
COMMON SHARES
Basic Shares Outstanding 25.46M shares 25.45M shares
Diluted Shares Outstanding 24.88M

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $218.1M $233.9M $119.9M
YoY Change 81.88% 252.79% 126.23%
Cash & Equivalents $41.47M $119.8M $82.03M
Short-Term Investments $176.6M $114.2M $37.90M
Other Short-Term Assets $2.000M $3.300M $900.0K
YoY Change 122.22% 230.0% 50.0%
Inventory
Prepaid Expenses
Receivables $2.400M $2.590M $2.274M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $222.5M $239.9M $123.1M
YoY Change 80.72% 249.16% 129.7%
LONG-TERM ASSETS
Property, Plant & Equipment $557.0K $515.8K $860.0K
YoY Change -35.23% -14.03% 330.0%
Goodwill $12.64M $12.64M $12.64M
YoY Change 0.0%
Intangibles $29.00M $29.00M
YoY Change
Long-Term Investments $1.000M $3.700M
YoY Change -28.57% 37.04%
Other Assets $3.348M $340.0K
YoY Change 884.71%
Total Long-Term Assets $45.54M $43.10M $46.19M
YoY Change -1.39% -1.28% 3.68%
TOTAL ASSETS
Total Short-Term Assets $222.5M $239.9M $123.1M
Total Long-Term Assets $45.54M $43.10M $46.19M
Total Assets $268.0M $283.0M $169.3M
YoY Change 58.32% 151.98% 72.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.693M $3.000M $2.100M
YoY Change 75.86% 233.33% -12.5%
Accrued Expenses $9.679M $6.517M $6.139M
YoY Change 57.66% 1.83% 27.9%
Deferred Revenue $5.100M $45.79M
YoY Change -88.86%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.47M $14.61M $13.49M
YoY Change 36.91% 19.75% 90.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $35.70M $36.80M $40.60M
YoY Change -12.07% -11.96%
Total Long-Term Liabilities $38.92M $38.93M $42.69M
YoY Change -8.84% -26.49% 283.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.47M $14.61M $13.49M
Total Long-Term Liabilities $38.92M $38.93M $42.69M
Total Liabilities $57.39M $53.54M $56.18M
YoY Change 2.15% -17.88% 208.7%
SHAREHOLDERS EQUITY
Retained Earnings -$341.8M -$315.6M -$251.0M
YoY Change 36.15%
Common Stock $552.8M $25.46K $20.00K
YoY Change 2763835.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $210.7M $229.4M $113.1M
YoY Change
Total Liabilities & Shareholders Equity $268.0M $283.0M $169.3M
YoY Change 58.32% 151.98% 72.58%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income -$26.16M -$21.54M -$3.007M
YoY Change 770.0% 75.48% -73.96%
Depreciation, Depletion And Amortization $170.0K $200.0K $100.0K
YoY Change 70.0% 377.94% 400.0%
Cash From Operating Activities -$16.73M -$16.68M -$9.770M
YoY Change 71.24% 52.19% -11.5%
INVESTING ACTIVITIES
Capital Expenditures -$210.0K -$40.00K -$360.0K
YoY Change -41.67% -92.0% 227.27%
Acquisitions
YoY Change
Other Investing Activities -$61.95M -$73.56M -$1.310M
YoY Change 4629.01% 7183.17% -108.3%
Cash From Investing Activities -$62.16M -$73.60M -$1.670M
YoY Change 3622.16% 4774.17% -110.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 600.0K 155.9M 66.23M
YoY Change -99.09% 59842.31% 44053.33%
NET CHANGE
Cash From Operating Activities -16.73M -16.68M -9.770M
Cash From Investing Activities -62.16M -73.60M -1.670M
Cash From Financing Activities 600.0K 155.9M 66.23M
Net Change In Cash -78.29M 65.57M 54.79M
YoY Change -242.89% -637.02% 1046.23%
FREE CASH FLOW
Cash From Operating Activities -$16.73M -$16.68M -$9.770M
Capital Expenditures -$210.0K -$40.00K -$360.0K
Free Cash Flow -$16.52M -$16.64M -$9.410M
YoY Change 75.56% 59.08% -13.91%

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CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
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asmb Cost Of Reimbursable Expenses
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CY2018Q3 us-gaap Lease And Rental Expense
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us-gaap Lease And Rental Expense
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CY2018Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2018Q3 us-gaap Common Stock Shares Authorized
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CY2017Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2018Q3 us-gaap Common Stock Shares Issued
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CY2017Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2017Q4 us-gaap Common Stock Shares Issued
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CY2018Q3 us-gaap Common Stock Shares Outstanding
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CY2018Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
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CY2017Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Before Reclassification Adjustments Tax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
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us-gaap Stock Issued During Period Value New Issues
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Or Sale Of Equity
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155425765 USD
us-gaap Proceeds From Issuance Or Sale Of Equity
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us-gaap Use Of Estimates
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<div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.43in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of the condensed consolidated financial statements in conformity with the 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 expenses during the reporting period. Actual results could differ from those estimates.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.4in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Significant estimates inherent in the preparation of the accompanying condensed consolidated financial statements include recoverability and useful lives (indefinite or finite) of intangible assets, assessment of impairment of goodwill, provisions for income taxes, amounts receivable under the collaboration agreement, and the fair value of stock options, restricted stock units (RSUs) granted to employees and directors.</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.4in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, times, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">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.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-170423 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-48231171 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11630144 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
129202 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
503115 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
115029814 USD
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
40022384 USD
us-gaap Net Income Loss
NetIncomeLoss
-39801476 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
41920838 USD
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
26556566 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-73238178 USD
us-gaap Share Based Compensation
ShareBasedCompensation
21677510 USD
us-gaap Share Based Compensation
ShareBasedCompensation
5833010 USD
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-232320 USD
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-577300 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-40449 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-105416 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
316441 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1400374 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2445359 USD
CY2017Q1 us-gaap Revenue Recognition Milestone Method Description
RevenueRecognitionMilestoneMethodDescription
the Company is eligible to receive variable consideration in the form of cost-sharing reimbursements, up to approximately $630 million related to seven development milestones and up to approximately $2.15 billion 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.
CY2018Q3 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
7903 USD
CY2017Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
0 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
938 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
49.14
us-gaap Net Income Loss
NetIncomeLoss
-64590029 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
340158 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
863626 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1497524 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
378053 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1599689 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-3860778 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
46810840 USD
asmb Increase Decrease In Deferred Rent Noncurrent
IncreaseDecreaseInDeferredRentNoncurrent
7903 USD
asmb Increase Decrease In Deferred Rent Noncurrent
IncreaseDecreaseInDeferredRentNoncurrent
0 USD
us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
-610957 USD
asmb Accrued Offering Cost Related To Issuance Of Common Stock
AccruedOfferingCostRelatedToIssuanceOfCommonStock
3762714 USD
asmb Accrued Offering Cost Related To Issuance Of Common Stock
AccruedOfferingCostRelatedToIssuanceOfCommonStock
1010936 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
159188479 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1010936 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
37719130 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-1327853 USD
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28575085 USD
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
27247232 USD
us-gaap Stock Issued1
StockIssued1
0 USD
us-gaap Stock Issued1
StockIssued1
8 USD
asmb Marketable Securities Available For Sale Change In Before Tax
MarketableSecuritiesAvailableForSaleChangeInBeforeTax
49442 USD
asmb Marketable Securities Available For Sale Change In Before Tax
MarketableSecuritiesAvailableForSaleChangeInBeforeTax
344457 USD
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
ASSEMBLY BIOSCIENCES, INC.
dei Entity Central Index Key
EntityCentralIndexKey
0001426800
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Trading Symbol
TradingSymbol
ASMB
CY2018Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
25463172 shares
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Small Business
EntitySmallBusiness
false
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2018-09-30

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