$ASMB
ASSEMBLY BIOSCIENCES, INC.

2021 Q3 Form 10-Q Financial Statement

#000156459021054499 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q4
Revenue $6.254M $0.00 $1.037M
YoY Change -81.93% -100.0% -78.25%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.655M $6.917M $7.170M
YoY Change -43.07% -26.96% -33.8%
% of Gross Profit
Research & Development $18.47M $16.75M $33.51M
YoY Change -31.43% -28.2% 48.14%
% of Gross Profit
Depreciation & Amortization $119.0K $117.0K $310.0K
YoY Change 19.0% 17.0% 181.82%
% of Gross Profit
Operating Expenses $25.13M $23.67M $40.68M
YoY Change -34.95% -27.84% 21.61%
Operating Profit -$18.88M -$23.67M
YoY Change -459.72%
Interest Expense $72.00K $71.00K $220.0K
YoY Change -89.25% -89.71% -74.42%
% of Operating Profit
Other Income/Expense, Net $72.00K $71.00K
YoY Change -89.73%
Pretax Income -$18.80M -$23.60M -$39.42M
YoY Change 461.28% -424.55% 41.65%
Income Tax
% Of Pretax Income
Net Earnings -$18.80M -$23.60M -$39.42M
YoY Change 461.45% -424.55% 45.54%
Net Earnings / Revenue -300.66% -3801.16%
Basic Earnings Per Share -$0.41 -$0.55 -$1.11
Diluted Earnings Per Share -$412.6K -$0.55 -$1.11
COMMON SHARES
Basic Shares Outstanding 45.57M 42.88M
Diluted Shares Outstanding 45.57M 42.88M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.9M $199.1M $216.4M
YoY Change -23.96% -12.18% -21.03%
Cash & Equivalents $70.76M $59.52M $59.44M
Short-Term Investments $110.1M $139.6M $157.0M
Other Short-Term Assets $6.548M $6.184M $6.900M
YoY Change 33.63% 21.25% 27.78%
Inventory
Prepaid Expenses
Receivables $769.0K $297.0K $1.230M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $188.2M $205.6M $224.5M
YoY Change -23.61% -12.57% -20.61%
LONG-TERM ASSETS
Property, Plant & Equipment $8.014M $8.847M $1.600M
YoY Change 320.9% 328.84% -12.57%
Goodwill $12.64M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments $9.180M
YoY Change
Other Assets $1.922M $6.093M $6.392M
YoY Change -67.97% 17.17% 279.57%
Total Long-Term Assets $60.75M $56.58M $58.76M
YoY Change 1.43% -5.23% 2.86%
TOTAL ASSETS
Total Short-Term Assets $188.2M $205.6M $224.5M
Total Long-Term Assets $60.75M $56.58M $58.76M
Total Assets $249.0M $262.1M $283.3M
YoY Change -18.72% -11.08% -16.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.628M $2.866M $4.598M
YoY Change 64.25% -20.39% 165.63%
Accrued Expenses $5.457M $4.320M $11.99M
YoY Change -26.3% -28.23% 44.67%
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 $14.93M $13.91M $24.43M
YoY Change -11.14% -19.46% -0.03%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $6.869M $13.90M $15.70M
YoY Change -58.12% 75.96% -60.45%
Total Long-Term Liabilities $6.869M $13.90M $15.70M
YoY Change -58.12% 75.96% -60.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.93M $13.91M $24.43M
Total Long-Term Liabilities $6.869M $13.90M $15.70M
Total Liabilities $24.33M $30.34M $42.68M
YoY Change -32.04% 9.59% -36.01%
SHAREHOLDERS EQUITY
Retained Earnings -$501.6M
YoY Change 14.14%
Common Stock $742.4M
YoY Change 4.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $224.6M $231.8M $240.6M
YoY Change
Total Liabilities & Shareholders Equity $249.0M $262.1M $283.3M
YoY Change -18.72% -11.08% -16.67%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q4
OPERATING ACTIVITIES
Net Income -$18.80M -$23.60M -$39.42M
YoY Change 461.45% -424.55% 45.54%
Depreciation, Depletion And Amortization $119.0K $117.0K $310.0K
YoY Change 19.0% 17.0% 181.82%
Cash From Operating Activities -$18.88M -$21.81M -$25.27M
YoY Change -277.46% -5.62% 23.09%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $2.000K -$1.750M
YoY Change -100.5% 17400.0%
Acquisitions
YoY Change
Other Investing Activities $20.07M -$3.083M $22.46M
YoY Change -140.24% -104.01% -123.64%
Cash From Investing Activities $20.07M -$3.091M $20.71M
YoY Change -140.24% -104.04% -121.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.06M 6.156M 5.690M
YoY Change 1097.02% 548.0% -95.86%
NET CHANGE
Cash From Operating Activities -18.88M -21.81M -25.27M
Cash From Investing Activities 20.07M -3.091M 20.71M
Cash From Financing Activities 10.06M 6.156M 5.690M
Net Change In Cash 11.24M -18.75M 1.130M
YoY Change -129.28% -134.47% -94.83%
FREE CASH FLOW
Cash From Operating Activities -$18.88M -$21.81M -$25.27M
Capital Expenditures $0.00 $2.000K -$1.750M
Free Cash Flow -$18.88M -$21.81M -$23.52M
YoY Change -277.46% -3.95% 14.62%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Earnings Per Share Basic And Diluted
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Depreciation Depletion And Amortization
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us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Other Accrued Liabilities
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us-gaap Increase Decrease In Other Accrued Liabilities
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us-gaap Increase Decrease In Contract With Customer Liability
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us-gaap Increase Decrease In Contract With Customer Liability
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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 Restructuring Charges
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CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2021Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2020Q3 asmb Initial Public Offering Value Of Shares Authorized
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300000000.0
CY2020Q3 asmb Initial Public Offering Value Of Shares Authorized
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300000000.0
CY2021Q3 asmb Number Of Warrants Exercised
NumberOfWarrantsExercised
315102
asmb Number Of Warrants Exercised
NumberOfWarrantsExercised
2424242
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2423634
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
2423634
asmb Number Of Warrants Exercised
NumberOfWarrantsExercised
0
CY2020Q3 asmb Number Of Warrants Exercised
NumberOfWarrantsExercised
0
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
1900000
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
3000000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
4600000
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
3.08
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.01
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2000000.0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8987000
asmb Contract With Customer Liability In Additions
ContractWithCustomerLiabilityInAdditions
0
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1592000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6048000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3292000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18106000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
12000000.0
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M12D
asmb Contract With Customer Liability In Deduction
ContractWithCustomerLiabilityInDeduction
6254000
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
2733000
CY2019Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
37048000
asmb Contract With Customer Liability In Additions
ContractWithCustomerLiabilityInAdditions
40000000
asmb Contract With Customer Liability In Deduction
ContractWithCustomerLiabilityInDeduction
68061000
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8987000
CY2021Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
800000
asmb Performance Milestone Payment
PerformanceMilestonePayment
0
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
7200000
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6800000
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
902000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1164000
us-gaap Operating Lease Cost
OperatingLeaseCost
2940000
us-gaap Operating Lease Cost
OperatingLeaseCost
3463000
CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
32000
CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
101000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
227000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
301000
CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
312000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
409000
us-gaap Variable Lease Cost
VariableLeaseCost
1063000
us-gaap Variable Lease Cost
VariableLeaseCost
1101000
CY2021Q3 us-gaap Sublease Income
SubleaseIncome
38000
us-gaap Sublease Income
SubleaseIncome
104000
CY2021Q3 us-gaap Lease Cost
LeaseCost
1208000
CY2020Q3 us-gaap Lease Cost
LeaseCost
1674000
us-gaap Lease Cost
LeaseCost
4126000
us-gaap Lease Cost
LeaseCost
4865000
us-gaap Operating Lease Payments
OperatingLeasePayments
2856000
us-gaap Operating Lease Payments
OperatingLeasePayments
3382000
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
1063000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2021Q3 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
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
927000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3643000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3491000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
13000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
8074000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
839000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
7235000

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