2024 Q3 Form 10-Q Financial Statement

#000162828024035170 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $117.1M $109.3M
YoY Change 34.98% 32.54%
Cost Of Revenue $3.211M $1.699M
YoY Change 192.17% 78.84%
Gross Profit $113.9M $107.6M
YoY Change 32.96% 32.0%
Gross Profit Margin 97.26% 98.45%
Selling, General & Admin $65.08M $61.21M
YoY Change 28.5% 20.03%
% of Gross Profit 57.15% 56.87%
Research & Development $41.08M $37.62M
YoY Change -12.37% -26.58%
% of Gross Profit 36.08% 34.95%
Depreciation & Amortization $311.0K $320.0K
YoY Change -25.95% -21.38%
% of Gross Profit 0.27% 0.3%
Operating Expenses $106.2M $98.84M
YoY Change 8.86% -3.33%
Operating Profit $7.692M $8.761M
YoY Change -164.52% -142.32%
Interest Expense -$21.14M $24.73M
YoY Change -177.3% -199.47%
% of Operating Profit -274.82% 282.31%
Other Income/Expense, Net
YoY Change
Pretax Income -$13.45M -$12.50M
YoY Change -62.46% -83.24%
Income Tax $586.0K $172.0K
% Of Pretax Income
Net Earnings -$14.03M -$12.67M
YoY Change -61.18% -83.17%
Net Earnings / Revenue -11.99% -11.59%
Basic Earnings Per Share -$0.07 -$0.06
Diluted Earnings Per Share -$0.07 -$0.06
COMMON SHARES
Basic Shares Outstanding 206.9M shares 206.4M shares
Diluted Shares Outstanding 206.9M shares 206.4M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $330.0M $272.0M
YoY Change -17.0% -33.76%
Cash & Equivalents $96.84M $78.41M
Short-Term Investments $233.2M $193.6M
Other Short-Term Assets $17.09M $18.22M
YoY Change -20.86% 16.16%
Inventory $7.562M $4.450M
Prepaid Expenses
Receivables $72.46M $68.76M
Other Receivables $0.00 $0.00
Total Short-Term Assets $427.1M $363.5M
YoY Change -14.99% -28.88%
LONG-TERM ASSETS
Property, Plant & Equipment $7.421M $7.663M
YoY Change -17.54% -9.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $19.43M $64.32M
YoY Change 1766.97%
Other Assets $15.65M $12.46M
YoY Change 36.57% 79.34%
Total Long-Term Assets $64.13M $109.0M
YoY Change 213.47% 478.69%
TOTAL ASSETS
Total Short-Term Assets $427.1M $363.5M
Total Long-Term Assets $64.13M $109.0M
Total Assets $491.3M $472.4M
YoY Change -6.06% -10.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.48M $7.786M
YoY Change 27.59% -43.94%
Accrued Expenses $104.2M $89.60M
YoY Change 34.64% 18.99%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $34.84M $30.66M
YoY Change
Total Short-Term Liabilities $153.6M $129.1M
YoY Change 69.2% 38.04%
LONG-TERM LIABILITIES
Long-Term Debt $314.3M $313.8M
YoY Change 5.48% 7.04%
Other Long-Term Liabilities $8.065M $8.362M
YoY Change -19.35% 44.1%
Total Long-Term Liabilities $314.3M $313.8M
YoY Change 5.48% 7.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $153.6M $129.1M
Total Long-Term Liabilities $314.3M $313.8M
Total Liabilities $959.8M $442.9M
YoY Change 146.89% 14.54%
SHAREHOLDERS EQUITY
Retained Earnings -$1.743B -$1.729B
YoY Change 7.65% 9.22%
Common Stock $2.071M $2.066M
YoY Change 9.11% 9.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$468.6M -$475.6M
YoY Change
Total Liabilities & Shareholders Equity $491.3M $472.4M
YoY Change -6.06% -10.84%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$14.03M -$12.67M
YoY Change -61.18% -83.17%
Depreciation, Depletion And Amortization $311.0K $320.0K
YoY Change -25.95% -21.38%
Cash From Operating Activities $8.245M -$1.368M
YoY Change -141.45% -92.73%
INVESTING ACTIVITIES
Capital Expenditures $59.00K $155.0K
YoY Change -93.98% -66.81%
Acquisitions
YoY Change
Other Investing Activities $8.548M -$2.294M
YoY Change -64.55% -87.65%
Cash From Investing Activities $8.489M -$2.449M
YoY Change -63.27% -87.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.274M -1.966M
YoY Change 3.58% -106.7%
NET CHANGE
Cash From Operating Activities 8.245M -1.368M
Cash From Investing Activities 8.489M -2.449M
Cash From Financing Activities 1.274M -1.966M
Net Change In Cash 18.01M -5.783M
YoY Change 304.67% -31.91%
FREE CASH FLOW
Cash From Operating Activities $8.245M -$1.368M
Capital Expenditures $59.00K $155.0K
Free Cash Flow $8.186M -$1.523M
YoY Change -139.22% -92.1%

Facts In Submission

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<div style="margin-top:10pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. Significant estimates in the Company’s condensed consolidated financial statements have been made relative to the calculation of net product sales, the ORLADEYO and Factor D inhibitors royalty financing obligations, inventory reserves, certain accruals, primarily related to the Company’s research and development expenses, the valuation of stock options and the valuation allowance for deferred tax assets resulting from net operating losses. These estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.</span></div>
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RevenueFromContractWithCustomerIncludingAssessedTax
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CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
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238945000 usd
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278344000 usd
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InventoryWorkInProcess
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InventoryWorkInProcess
17591000 usd
CY2024Q2 us-gaap Inventory Finished Goods
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InventoryFinishedGoods
6242000 usd
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InventoryGross
30575000 usd
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InventoryGross
30282000 usd
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InventoryValuationReserves
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InventoryValuationReserves
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CY2024Q2 bcrx Inventory Including Noncurrent Portion
InventoryIncludingNoncurrentPortion
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CY2023Q4 bcrx Inventory Including Noncurrent Portion
InventoryIncludingNoncurrentPortion
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CY2023Q4 bcrx Royalty Financing Liabilities
RoyaltyFinancingLiabilities
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CY2024Q1 bcrx Non Cash Interest Expense On Royalty Financing Liabilities
NonCashInterestExpenseOnRoyaltyFinancingLiabilities
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CY2024Q1 bcrx Royalty Revenues Paid And Payable
RoyaltyRevenuesPaidAndPayable
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RoyaltyFinancingLiabilities
530574000 usd
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NonCashInterestExpenseOnRoyaltyFinancingLiabilities
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CY2024Q2 bcrx Royalty Revenues Paid And Payable
RoyaltyRevenuesPaidAndPayable
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CY2024Q2 bcrx Royalty Financing Liabilities
RoyaltyFinancingLiabilities
523633000 usd
CY2024Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P3Y
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OperatingLeaseExpense
582000 usd
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OperatingLeaseExpense
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OperatingLeaseExpense
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us-gaap Operating Lease Expense
OperatingLeaseExpense
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FinanceLeaseRightOfUseAssetAmortization
416000 usd
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FinanceLeaseRightOfUseAssetAmortization
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us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
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us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
523000 usd
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FinanceLeaseInterestExpense
73000 usd
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
37000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
150000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
75000 usd
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FinancingLeaseExpense
489000 usd
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FinancingLeaseExpense
304000 usd
bcrx Financing Lease Expense
FinancingLeaseExpense
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bcrx Financing Lease Expense
FinancingLeaseExpense
598000 usd
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P9Y4M24D
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P9Y8M12D
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P2Y7M6D
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P3Y
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OperatingLeaseRightOfUseAsset
8535000 usd
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OperatingLeaseRightOfUseAsset
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1026000 usd
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1058000 usd
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OperatingLeaseLiabilityNoncurrent
8362000 usd
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OperatingLeaseLiabilityNoncurrent
8390000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
9388000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
9448000 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
3653000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
4322000 usd
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1681000 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
1590000 usd
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2117000 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
2845000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
3798000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
4435000 usd
CY2024Q2 bcrx Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
5444000 usd
CY2023Q4 bcrx Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
4794000 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
3116000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
2293000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1028000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
953000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1849000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
1782000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1660000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
948000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1584000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
474000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1416000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
38000 usd
CY2024Q2 bcrx Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
7997000 usd
CY2024Q2 bcrx Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15534000 usd
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
4195000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6146000 usd
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
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397000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
9388000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
3798000 usd
us-gaap Finance Lease Interest Payment On Liability
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792000 usd
us-gaap Finance Lease Principal Payments
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0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
156000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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350000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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155000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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610000 usd
bcrx Non Cash Increase In Operating Lease Assets Due To Remeasurement Of Operating Lease Liabilities
NonCashIncreaseInOperatingLeaseAssetsDueToRemeasurementOfOperatingLeaseLiabilities
365000 usd
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NonCashIncreaseInOperatingLeaseAssetsDueToRemeasurementOfOperatingLeaseLiabilities
0 usd
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
64158000 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
58020000 shares
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3 plan
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
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13173000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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12841000 usd
us-gaap Allocated Share Based Compensation Expense
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26825000 usd
us-gaap Allocated Share Based Compensation Expense
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26848000 usd
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251000 shares
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CY2023Q4 us-gaap Restructuring Reserve
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3380000 usd
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CY2024Q1 us-gaap Payments For Restructuring
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CY2024Q1 us-gaap Restructuring Reserve
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1476000 usd
CY2024Q2 us-gaap Restructuring Costs
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0 usd
CY2024Q2 us-gaap Payments For Restructuring
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CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
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false
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