2022 Q1 Form 10-Q Financial Statement
#000156459022019879 Filed on May 12, 2022
Income Statement
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q1 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% | |
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $5.957M | $6.504M | $8.430M |
| YoY Change | -29.34% | -9.29% | -3.44% |
| % of Gross Profit | |||
| Research & Development | $17.21M | $14.75M | $18.55M |
| YoY Change | -7.27% | -55.99% | -19.51% |
| % of Gross Profit | |||
| Depreciation & Amortization | $120.0K | $120.0K | $107.0K |
| YoY Change | 12.15% | -61.29% | -6.96% |
| % of Gross Profit | |||
| Operating Expenses | $23.16M | $21.25M | $27.26M |
| YoY Change | -15.03% | -47.76% | -14.22% |
| Operating Profit | -$23.16M | -$27.26M | |
| YoY Change | -15.03% | -1.57% | |
| Interest Expense | $71.00K | $101.0K | $60.00K |
| YoY Change | 18.33% | -54.09% | -94.23% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $71.00K | $58.00K | |
| YoY Change | 22.41% | -94.42% | |
| Pretax Income | -$23.09M | -$62.79M | -$27.20M |
| YoY Change | -15.11% | 59.28% | 2.04% |
| Income Tax | -$2.531M | ||
| % Of Pretax Income | |||
| Net Earnings | -$23.09M | -$60.26M | -$27.20M |
| YoY Change | -15.11% | 52.87% | 2.04% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | -$0.48 | ||
| Diluted Earnings Per Share | -$479.8K | -$1.341M | -$685.5K |
| COMMON SHARES | |||
| Basic Shares Outstanding | 48.12M | ||
| Diluted Shares Outstanding | 48.12M |
Balance Sheet
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $123.0M | $146.6M | $214.9M |
| YoY Change | -42.76% | -32.25% | -13.74% |
| Cash & Equivalents | $51.17M | $45.63M | $78.25M |
| Short-Term Investments | $71.83M | $101.0M | $136.6M |
| Other Short-Term Assets | $7.253M | $7.241M | $6.500M |
| YoY Change | 11.58% | 4.94% | 41.3% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $524.0K | $336.0K | $200.0K |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $130.8M | $154.2M | $221.6M |
| YoY Change | -40.99% | -31.31% | -13.69% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $6.319M | $1.139M | $9.600M |
| YoY Change | -34.18% | -28.81% | 439.33% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $23.46M | $27.97M | |
| YoY Change | |||
| Other Assets | $2.175M | $1.703M | $6.000M |
| YoY Change | -63.75% | -73.36% | 261.23% |
| Total Long-Term Assets | $31.95M | $36.86M | $57.30M |
| YoY Change | -44.24% | -37.28% | 1.31% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $130.8M | $154.2M | $221.6M |
| Total Long-Term Assets | $31.95M | $36.86M | $57.30M |
| Total Assets | $162.7M | $191.1M | $278.9M |
| YoY Change | -41.65% | -32.55% | -10.98% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $1.407M | $2.659M | $3.600M |
| YoY Change | -60.92% | -42.17% | 71.1% |
| Accrued Expenses | $2.499M | $6.863M | $3.659M |
| YoY Change | -31.7% | -42.75% | -17.4% |
| 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 | $10.71M | $16.07M | $14.50M |
| YoY Change | -26.14% | -34.22% | -31.43% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $5.230M | $6.058M | $14.60M |
| YoY Change | -64.18% | -61.41% | -61.48% |
| Total Long-Term Liabilities | $5.230M | $6.058M | $14.60M |
| YoY Change | -64.18% | -61.41% | -61.48% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $10.71M | $16.07M | $14.50M |
| Total Long-Term Liabilities | $5.230M | $6.058M | $14.60M |
| Total Liabilities | $15.94M | $22.13M | $31.70M |
| YoY Change | -49.72% | -48.14% | -48.49% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$654.5M | -$631.4M | |
| YoY Change | 25.89% | ||
| Common Stock | $802.2M | $800.8M | |
| YoY Change | 7.86% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $146.8M | $168.9M | $247.2M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $162.7M | $191.1M | $278.9M |
| YoY Change | -41.65% | -32.55% | -10.98% |
Cashflow Statement
| Concept | 2022 Q1 | 2021 Q4 | 2021 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$23.09M | -$60.26M | -$27.20M |
| YoY Change | -15.11% | 52.87% | 2.04% |
| Depreciation, Depletion And Amortization | $120.0K | $120.0K | $107.0K |
| YoY Change | 12.15% | -61.29% | -6.96% |
| Cash From Operating Activities | -$27.50M | -$19.36M | -$33.34M |
| YoY Change | -17.52% | -23.38% | 32.22% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $0.00 | -$18.00K | $3.078M |
| YoY Change | -100.0% | -98.97% | 4635.38% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $33.05M | -$8.466M | $21.09M |
| YoY Change | 56.7% | -137.69% | 1.59% |
| Cash From Investing Activities | $33.05M | -$8.484M | $18.02M |
| YoY Change | 83.44% | -140.97% | -12.94% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $34.14M | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 0.000 | 2.713M | 34.14M |
| YoY Change | -100.0% | -52.32% | 28586.55% |
| NET CHANGE | |||
| Cash From Operating Activities | -27.50M | -19.36M | -33.34M |
| Cash From Investing Activities | 33.05M | -8.484M | 18.02M |
| Cash From Financing Activities | 0.000 | 2.713M | 34.14M |
| Net Change In Cash | -27.50M | -25.13M | 18.81M |
| YoY Change | -246.22% | -2324.16% | -526.9% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$27.50M | -$19.36M | -$33.34M |
| Capital Expenditures | $0.00 | -$18.00K | $3.078M |
| Free Cash Flow | -$27.50M | -$19.34M | -$36.42M |
| YoY Change | -24.49% | -17.76% | 44.06% |
Facts In Submission
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UseOfEstimates
|
<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 of costs incurred but not yet invoiced for research and development accruals, recoverability and useful lives of our long-lived assets, amounts receivable under collaboration agreements, measurement of operating lease liabilities, and the fair value of stock options, stock appreciation rights, and 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> | |
| CY2022Q1 | asmb |
Capitalized And Amortized Costs Period
CapitalizedAndAmortizedCostsPeriod
|
P5Y | |
| CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-23091000 | |
| CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-27200000 | |
| CY2022Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
48123930 | |
| CY2021Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
39679734 | |
| CY2022Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.48 | |
| CY2021Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.69 | |
| CY2022Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
9158738 | |
| CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
8093959 | |
| CY2022Q1 | asmb |
Cash Equivalents At Carrying Value And Available For Sale Debt Securities Amortized Cost
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesAmortizedCost
|
144281000 | |
| CY2022Q1 | asmb |
Cash Equivalents At Carrying Value And Available For Sale Debt Securities Gross Unrealized Gain
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesGrossUnrealizedGain
|
0 | |
| CY2022Q1 | asmb |
Cash Equivalents At Carrying Value And Available For Sale Debt Securities Gross Unrealized Loss
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
635000 | |
| CY2022Q1 | asmb |
Cash Equivalents At Carrying Value And Available For Sale Debt Securities Estimated Fair Value
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesEstimatedFairValue
|
143646000 | |
| CY2021Q4 | asmb |
Cash Equivalents At Carrying Value And Available For Sale Debt Securities Amortized Cost
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesAmortizedCost
|
171625000 | |
| CY2021Q4 | asmb |
Cash Equivalents At Carrying Value And Available For Sale Debt Securities Gross Unrealized Gain
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesGrossUnrealizedGain
|
0 | |
| CY2021Q4 | asmb |
Cash Equivalents At Carrying Value And Available For Sale Debt Securities Gross Unrealized Loss
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesGrossUnrealizedLoss
|
146000 | |
| CY2021Q4 | asmb |
Cash Equivalents At Carrying Value And Available For Sale Debt Securities Estimated Fair Value
CashEquivalentsAtCarryingValueAndAvailableForSaleDebtSecuritiesEstimatedFairValue
|
171479000 | |
| CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
437000 | |
| CY2022Q1 | asmb |
Fair Value Assets Between Levels Transfers Amount
FairValueAssetsBetweenLevelsTransfersAmount
|
0 | |
| CY2021Q4 | asmb |
Fair Value Assets Between Levels Transfers Amount
FairValueAssetsBetweenLevelsTransfersAmount
|
0 | |
| CY2022Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2161000 | |
| CY2021Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
6426000 | |
| CY2022Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
338000 | |
| CY2022Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
2499000 | |
| CY2021Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
6863000 | |
| CY2020Q3 | asmb |
Initial Public Offering Value Of Shares Authorized
InitialPublicOfferingValueOfSharesAuthorized
|
300000000.0 | |
| CY2020Q3 | asmb |
Initial Public Offering Value Of Shares Authorized
InitialPublicOfferingValueOfSharesAuthorized
|
300000000.0 | |
| CY2021Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
6600000 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.63 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
3.15 | |
| CY2022Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | |
| CY2021Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | |
| CY2022Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
| CY2021Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
| CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1443000 | |
| CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
-286000 | |
| CY2022Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
|
10900000 | |
| CY2022Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y9M18D | |
| CY2022Q1 | us-gaap |
Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
|
800000 | |
| CY2022Q1 | asmb |
Milestone Payment Diligence Maintenance Fees
MilestonePaymentDiligenceMaintenanceFees
|
100000 | |
| CY2021Q1 | asmb |
Milestone Payment Diligence Maintenance Fees
MilestonePaymentDiligenceMaintenanceFees
|
0 |
