2020 Q2 Form 10-Q Financial Statement

#000170154120000024 Filed on August 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.860M $1.350M
YoY Change 260.0%
% of Gross Profit
Research & Development $10.17M $5.646M
YoY Change 80.13%
% of Gross Profit
Depreciation & Amortization $10.00K $20.00K
YoY Change -50.0% 0.0%
% of Gross Profit
Operating Expenses $15.03M $6.999M
YoY Change 114.72% 265.67%
Operating Profit -$15.03M -$6.999M
YoY Change 114.72% 265.67%
Interest Expense $1.000K $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $457.0K -$5.288M
YoY Change -108.64%
Pretax Income -$14.57M -$12.29M
YoY Change 18.55%
Income Tax
% Of Pretax Income
Net Earnings -$14.57M -$12.29M
YoY Change 18.59% 542.29%
Net Earnings / Revenue
Basic Earnings Per Share -$0.41
Diluted Earnings Per Share -$0.41 -$376.5K
COMMON SHARES
Basic Shares Outstanding 35.91M shares
Diluted Shares Outstanding 35.91M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $204.5M $39.60M
YoY Change 416.39%
Cash & Equivalents $63.98M $39.65M
Short-Term Investments $140.5M
Other Short-Term Assets $3.800M $300.0K
YoY Change 1166.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $208.2M $40.00M
YoY Change 420.61%
LONG-TERM ASSETS
Property, Plant & Equipment $166.0K $100.0K
YoY Change 66.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $140.5M
YoY Change
Other Assets $80.00K $100.0K
YoY Change -20.0%
Total Long-Term Assets $141.2M $200.0K
YoY Change 70502.5%
TOTAL ASSETS
Total Short-Term Assets $208.2M $40.00M
Total Long-Term Assets $141.2M $200.0K
Total Assets $349.5M $40.20M
YoY Change 769.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.00K $700.0K
YoY Change -93.57%
Accrued Expenses $6.079M $800.0K
YoY Change 659.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.139M $1.500M
YoY Change 309.27%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $9.300M
YoY Change -97.85%
Total Long-Term Liabilities $200.0K $9.300M
YoY Change -97.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.139M $1.500M
Total Long-Term Liabilities $200.0K $9.300M
Total Liabilities $6.325M $10.80M
YoY Change -41.44%
SHAREHOLDERS EQUITY
Retained Earnings -$77.69M
YoY Change
Common Stock $5.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $343.1M -$31.37M
YoY Change
Total Liabilities & Shareholders Equity $349.5M $40.20M
YoY Change 769.28%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$14.57M -$12.29M
YoY Change 18.59% 542.29%
Depreciation, Depletion And Amortization $10.00K $20.00K
YoY Change -50.0% 0.0%
Cash From Operating Activities -$13.57M -$5.000M
YoY Change 171.4% 18.76%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$279.6M $0.00
YoY Change
Cash From Investing Activities -$279.6M $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -70.00K
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -13.57M -5.000M
Cash From Investing Activities -279.6M 0.000
Cash From Financing Activities 0.000 -70.00K
Net Change In Cash -293.2M -5.070M
YoY Change 5683.23% 18.74%
FREE CASH FLOW
Cash From Operating Activities -$13.57M -$5.000M
Capital Expenditures -$30.00K $0.00
Free Cash Flow -$13.54M -$5.000M
YoY Change 170.8% 20.48%

Facts In Submission

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BLACK DIAMOND THERAPEUTICS, INC.
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CY2019Q1 us-gaap Temporary Equity Shares Outstanding
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60770000 USD
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CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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192000 USD
CY2019Q2 us-gaap Net Income Loss
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CY2019Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
33668075 shares
CY2019Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
60770000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-31374000 USD
CY2019Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
64839353 shares
CY2019Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
200573000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-47157000 USD
CY2020Q1 bdtx Reclassifications Of Temporary To Permanent Equity Shares
ReclassificationsOfTemporaryToPermanentEquityShares
64839353 shares
CY2020Q1 us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
200573000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
200573000 USD
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
212101000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-12145000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
16000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1877000 USD
CY2020Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2020Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
355265000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1419000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Reclassification Adjustments Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
1012000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-14571000 USD
CY2020Q2 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0 shares
CY2020Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
343125000 USD
CY2020Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
3.01581
us-gaap Use Of Estimates
UseOfEstimates
Use of estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses, the valuation of common stock and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions.
CY2019Q4 us-gaap Deferred Costs
DeferredCosts
2303000 USD
CY2019Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
16000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
16000 USD
CY2020Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
140093000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
140505000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCostBasis
139922000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
140522000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
280015000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
281027000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
280015000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1012000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
281027000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
140505000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
140522000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
0 USD
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
301000 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
276000 USD
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
135000 USD
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
112000 USD
CY2020Q2 bdtx Accrued Legal Fees Current
AccruedLegalFeesCurrent
74000 USD
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
166000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
164000 USD
us-gaap Depreciation
Depreciation
23000 USD
us-gaap Depreciation
Depreciation
25000 USD
CY2020Q2 bdtx Accrued Contract Research Service Fees Current
AccruedContractResearchServiceFeesCurrent
2276000 USD
CY2019Q4 bdtx Accrued Contract Research Service Fees Current
AccruedContractResearchServiceFeesCurrent
434000 USD
CY2020Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1779000 USD
CY2019Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1182000 USD
CY2020Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1736000 USD
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
984000 USD
CY2019Q4 bdtx Accrued Legal Fees Current
AccruedLegalFeesCurrent
299000 USD
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
214000 USD
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6079000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2899000 USD
CY2020Q1 bdtx Shares Authorized
SharesAuthorized
510000000 shares
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2020Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1419000 USD
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
192000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3296000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
283000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
901651 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1110000 USD
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3240362 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
39763 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
13.08
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
20337000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-14571000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-12287000 USD
us-gaap Net Income Loss
NetIncomeLoss
-26716000 USD
us-gaap Net Income Loss
NetIncomeLoss
-16115000 USD
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
35910718 shares
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2052056 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
29804987 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2048239 shares
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.41
CY2019Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-5.99
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.92
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-7.86
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3240362 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11842843 shares
bdtx Lessee Operating Lease Number Of Contracts
LesseeOperatingLeaseNumberOfContracts
1 contract
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
56000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
112000 USD
CY2020Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
105000 USD
us-gaap Short Term Lease Cost
ShortTermLeaseCost
265000 USD
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
10000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
22000 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
171000 USD
us-gaap Lease Cost
LeaseCost
399000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
111000 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M18D
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.086
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2103000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
112000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
228000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
77000 USD
CY2020Q2 bdtx Lessee Operating Lease Liability Payments Due After Year Two
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearTwo
0 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
417000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
29000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
388000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
223000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
228000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
77000 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
0 USD
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
528000 USD
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2020Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
118000 USD
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
267000 USD
CY2019Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
38000 USD
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
61000 USD
CY2020Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
15000 USD
CY2019Q4 bdtx Prepaid Expense Related Party Current
PrepaidExpenseRelatedPartyCurrent
916000 USD
CY2020Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
223000 USD
CY2019Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
3247000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
5198000 USD

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