$ASMB
ASSEMBLY BIOSCIENCES, INC.

2021 Q2 Form 10-Q Financial Statement

#000156459021041680 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $0.00 $39.38M $4.081M
YoY Change -100.0% 1178.44% 5.05%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.917M $9.470M $8.730M
YoY Change -26.96% 132.11% -8.3%
% of Gross Profit
Research & Development $16.75M $23.33M $23.05M
YoY Change -28.2% 24.74% 1.52%
% of Gross Profit
Depreciation & Amortization $117.0K $100.0K $115.0K
YoY Change 17.0% 0.0% -14.81%
% of Gross Profit
Operating Expenses $23.67M $32.80M $31.78M
YoY Change -27.84% 43.97% -1.38%
Operating Profit -$23.67M $6.579M -$27.69M
YoY Change -459.72% -133.4% -2.27%
Interest Expense $71.00K $690.0K $1.040M
YoY Change -89.71% -41.53% -18.75%
% of Operating Profit 10.49%
Other Income/Expense, Net $71.00K $691.0K $1.039M
YoY Change -89.73% -41.74% -18.64%
Pretax Income -$23.60M $7.270M -$26.66M
YoY Change -424.55% -139.27% -1.49%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0%
Net Earnings -$23.60M $7.270M -$26.66M
YoY Change -424.55% -139.29% -1.47%
Net Earnings / Revenue 18.46% -653.15%
Basic Earnings Per Share -$0.55 $0.21 -$0.76
Diluted Earnings Per Share -$0.55 $0.19 -$0.76
COMMON SHARES
Basic Shares Outstanding 42.88M 35.31M 32.62M
Diluted Shares Outstanding 42.88M 37.29M 35.08B

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $199.1M $226.7M $249.1M
YoY Change -12.18% 30.44% 28.75%
Cash & Equivalents $59.52M $96.71M $42.33M
Short-Term Investments $139.6M $130.0M $206.8M
Other Short-Term Assets $6.184M $5.100M $4.600M
YoY Change 21.25% -23.88% 6.98%
Inventory
Prepaid Expenses
Receivables $297.0K $3.300M $3.100M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $205.6M $235.1M $256.8M
YoY Change -12.57% 28.15% 27.86%
LONG-TERM ASSETS
Property, Plant & Equipment $8.847M $2.063M $1.780M
YoY Change 328.84% 0.73% -14.38%
Goodwill $12.64M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.093M $5.200M $1.661M
YoY Change 17.17% 207.15% 0.0%
Total Long-Term Assets $56.58M $59.70M $56.56M
YoY Change -5.23% 2.84% -3.22%
TOTAL ASSETS
Total Short-Term Assets $205.6M $235.1M $256.8M
Total Long-Term Assets $56.58M $59.70M $56.56M
Total Assets $262.1M $294.8M $313.3M
YoY Change -11.08% 22.06% 20.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.866M $3.600M $2.104M
YoY Change -20.39% 5.88% -12.33%
Accrued Expenses $4.320M $6.019M $4.430M
YoY Change -28.23% -20.65% -56.32%
Deferred Revenue $6.715M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $13.91M $17.27M $21.15M
YoY Change -19.46% -13.36% -16.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.90M $7.900M $37.90M
YoY Change 75.96% -81.88% -6.19%
Total Long-Term Liabilities $13.90M $7.900M $37.90M
YoY Change 75.96% -81.88% -6.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.91M $17.27M $21.15M
Total Long-Term Liabilities $13.90M $7.900M $37.90M
Total Liabilities $30.34M $27.69M $61.54M
YoY Change 9.59% -58.56% -10.61%
SHAREHOLDERS EQUITY
Retained Earnings -$458.8M -$466.1M
YoY Change 18.45% 26.36%
Common Stock $725.8M $717.9M
YoY Change 2791503.85% 2761169.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $231.8M $267.1M $251.8M
YoY Change
Total Liabilities & Shareholders Equity $262.1M $294.8M $313.3M
YoY Change -11.08% 22.07% 20.85%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$23.60M $7.270M -$26.66M
YoY Change -424.55% -139.29% -1.47%
Depreciation, Depletion And Amortization $117.0K $100.0K $115.0K
YoY Change 17.0% 0.0% -14.81%
Cash From Operating Activities -$21.81M -$23.11M -$25.22M
YoY Change -5.62% 10.05% 5.34%
INVESTING ACTIVITIES
Capital Expenditures $2.000K -$400.0K $65.00K
YoY Change -100.5% 700.0% -95.63%
Acquisitions
YoY Change
Other Investing Activities -$3.083M $76.95M $20.76M
YoY Change -104.01% 201.76% 60.68%
Cash From Investing Activities -$3.091M $76.55M $20.69M
YoY Change -104.04% 200.79% 80.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.156M 950.0K 119.0K
YoY Change 548.0% 33.8% -15.0%
NET CHANGE
Cash From Operating Activities -21.81M -23.11M -25.22M
Cash From Investing Activities -3.091M 76.55M 20.69M
Cash From Financing Activities 6.156M 950.0K 119.0K
Net Change In Cash -18.75M 54.39M -4.406M
YoY Change -134.47% 954.07% -64.36%
FREE CASH FLOW
Cash From Operating Activities -$21.81M -$23.11M -$25.22M
Capital Expenditures $2.000K -$400.0K $65.00K
Free Cash Flow -$21.81M -$22.71M -$25.28M
YoY Change -3.95% 8.4% -0.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
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<p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the unaudited condensed consolidated 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 expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="text-align:justify;margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Estimates inherent in the preparation of the accompanying unaudited condensed consolidated financial statements include estimates for the cost-based input of revenue recognition and standalone selling price estimates for allocation of transaction price to performance obligations, revenue recognition, estimates of costs incurred but not yet invoiced for clinical trial accruals, recoverability and useful lives of our long-lived assets, the estimated fair value of our indefinite-lived intangible assets, the estimated fair value of our reporting unit for purposes of evaluating goodwill impairment, provisions for income taxes, amounts receivable under collaboration agreements, measurement of operating lease liabilities, and the fair value of stock options, stock appreciation rights, and restricted stock units (RSUs) granted to employees, directors, and consultants.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company’s estimates could be affected by external conditions, including those unique to the Company and general economic conditions. It is reasonably possible these external factors could have an effect on the Company’s estimates and could cause actual results to differ materially from those estimates and assumptions.</p>
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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35229570
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.55
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.55
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.19
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.23
CY2021Q2 asmb Cash Equivalents At Carrying Value And Available For Sale Debt Securities Amortized Cost
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesAmortizedCost
191641000
CY2021Q2 asmb Cash Equivalents At Carrying Value And Available For Sale Debt Securities Gross Unrealized Gain
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesGrossUnrealizedGain
5000
CY2021Q2 asmb Cash Equivalents At Carrying Value And Available For Sale Debt Securities Gross Unrealized Loss
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesGrossUnrealizedLoss
5000
CY2020Q4 asmb Accrued Restructuring Charges Current
AccruedRestructuringChargesCurrent
4164000
us-gaap Restructuring Charges
RestructuringCharges
1611000
us-gaap Payments For Restructuring
PaymentsForRestructuring
5092000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
900000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7655242
CY2021Q2 asmb Cash Equivalents At Carrying Value And Available For Sale Debt Securities Estimated Fair Value
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesEstimatedFairValue
191641000
CY2020Q4 asmb Cash Equivalents At Carrying Value And Available For Sale Debt Securities Amortized Cost
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesAmortizedCost
211017000
CY2020Q4 asmb Cash Equivalents At Carrying Value And Available For Sale Debt Securities Gross Unrealized Gain
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesGrossUnrealizedGain
7000
CY2020Q4 asmb Cash Equivalents At Carrying Value And Available For Sale Debt Securities Gross Unrealized Loss
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesGrossUnrealizedLoss
4000
CY2020Q4 asmb Cash Equivalents At Carrying Value And Available For Sale Debt Securities Estimated Fair Value
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesEstimatedFairValue
211020000
CY2021Q2 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
0
CY2021Q2 asmb Fair Value Assets Between Levels Transfers Amount
FairValueAssetsBetweenLevelsTransfersAmount
0
CY2020Q4 asmb Fair Value Assets Between Levels Transfers Amount
FairValueAssetsBetweenLevelsTransfersAmount
0
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3062000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7016000
CY2021Q2 asmb Accrued Restructuring Charges Current
AccruedRestructuringChargesCurrent
683000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
807000
CY2021Q2 asmb Restructuring And Related Cost Incurred Cost Benefit
RestructuringAndRelatedCostIncurredCostBenefit
-296000
asmb Restructuring And Related Cost Incurred Cost Benefit
RestructuringAndRelatedCostIncurredCostBenefit
-1348000
CY2021Q2 us-gaap Restructuring And Related Cost Cost Incurred To Date1
RestructuringAndRelatedCostCostIncurredToDate1
6430000
asmb Restructuring And Related Cost Incurred Cost Benefit
RestructuringAndRelatedCostIncurredCostBenefit
-1348000
CY2020Q2 asmb Restructuring And Related Cost Incurred Cost Benefit
RestructuringAndRelatedCostIncurredCostBenefit
0
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2020Q3 asmb Initial Public Offering Value Of Shares Authorized
InitialPublicOfferingValueOfSharesAuthorized
300000000.0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.12
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2020Q3 asmb Initial Public Offering Value Of Shares Authorized
InitialPublicOfferingValueOfSharesAuthorized
300000000.0
CY2021Q2 asmb Number Of Warrants Exercised
NumberOfWarrantsExercised
2109140
asmb Number Of Warrants Exercised
NumberOfWarrantsExercised
2109140
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2108621
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2108621
CY2020Q2 asmb Number Of Warrants Exercised
NumberOfWarrantsExercised
0
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
6600000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.52
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000.0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2021Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
800000
asmb Performance Milestone Payment
PerformanceMilestonePayment
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12058000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
14500000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8987000
asmb Contract With Customer Liability In Additions
ContractWithCustomerLiabilityInAdditions
0
asmb Contract With Customer Liability In Deduction
ContractWithCustomerLiabilityInDeduction
0
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8987000
asmb Contract With Customer Liability In Additions
ContractWithCustomerLiabilityInAdditions
0
asmb Contract With Customer Liability In Deduction
ContractWithCustomerLiabilityInDeduction
37048000
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
8000000.0
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7500000
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
1158000
us-gaap Operating Lease Cost
OperatingLeaseCost
2037000
us-gaap Operating Lease Cost
OperatingLeaseCost
2308000
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
100000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
195000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
408000
us-gaap Variable Lease Cost
VariableLeaseCost
751000
us-gaap Variable Lease Cost
VariableLeaseCost
692000
CY2021Q2 us-gaap Sublease Income
SubleaseIncome
39000
us-gaap Sublease Income
SubleaseIncome
65000
CY2021Q2 us-gaap Lease Cost
LeaseCost
1363000
CY2020Q2 us-gaap Lease Cost
LeaseCost
1666000
us-gaap Lease Cost
LeaseCost
2918000
us-gaap Lease Cost
LeaseCost
3200000
us-gaap Operating Lease Payments
OperatingLeasePayments
1944000
us-gaap Operating Lease Payments
OperatingLeasePayments
2247000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
126000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
545000
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y4M24D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.097
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.092
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1839000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3643000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3491000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8986000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1024000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
7962000

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