2021 Q1 Form 10-Q Financial Statement

#000170154121000025 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.890M $5.530M
YoY Change 42.68% 566.27%
% of Gross Profit
Research & Development $22.82M $7.354M
YoY Change 210.31% 144.08%
% of Gross Profit
Depreciation & Amortization $19.00K $10.00K
YoY Change 90.0% -16.67%
% of Gross Profit
Operating Expenses $30.71M $12.88M
YoY Change 138.47% 235.3%
Operating Profit -$30.71M -$12.88M
YoY Change 138.47% 235.3%
Interest Expense $1.150M $740.0K
YoY Change 55.41% 7300.0%
% of Operating Profit
Other Income/Expense, Net $412.0K $734.0K
YoY Change -43.87% 5546.15%
Pretax Income -$30.30M -$12.15M
YoY Change 149.38% 217.23%
Income Tax
% Of Pretax Income
Net Earnings -$30.30M -$12.15M
YoY Change 149.49% 217.27%
Net Earnings / Revenue
Basic Earnings Per Share -$0.84 -$0.51
Diluted Earnings Per Share -$0.84 -$0.51
COMMON SHARES
Basic Shares Outstanding 36.12M shares 23.70M shares
Diluted Shares Outstanding 36.12M shares 23.70M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.1M $357.2M
YoY Change -18.8%
Cash & Equivalents $14.11M $357.2M
Short-Term Investments $276.0M
Other Short-Term Assets $7.300M $4.900M
YoY Change 48.98%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $297.3M $362.1M
YoY Change -17.88%
LONG-TERM ASSETS
Property, Plant & Equipment $791.0K $154.0K
YoY Change 413.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $79.00K
YoY Change 26.58%
Total Long-Term Assets $15.91M $717.0K
YoY Change 2119.25%
TOTAL ASSETS
Total Short-Term Assets $297.3M $362.1M
Total Long-Term Assets $15.91M $717.0K
Total Assets $313.3M $362.8M
YoY Change -13.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.616M $3.798M
YoY Change 21.54%
Accrued Expenses $14.09M $2.538M
YoY Change 455.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.70M $7.300M
YoY Change 156.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $13.80M $200.0K
YoY Change 6800.0%
Total Long-Term Liabilities $13.80M $200.0K
YoY Change 6800.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.70M $7.300M
Total Long-Term Liabilities $13.80M $200.0K
Total Liabilities $32.51M $7.539M
YoY Change 331.17%
SHAREHOLDERS EQUITY
Retained Earnings -$148.5M -$63.12M
YoY Change 135.32%
Common Stock $5.000K $5.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $280.8M $355.3M
YoY Change
Total Liabilities & Shareholders Equity $313.3M $362.8M
YoY Change -13.66%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$30.30M -$12.15M
YoY Change 149.49% 217.27%
Depreciation, Depletion And Amortization $19.00K $10.00K
YoY Change 90.0% -16.67%
Cash From Operating Activities -$24.46M -$11.32M
YoY Change 116.05% 64.57%
INVESTING ACTIVITIES
Capital Expenditures $40.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $3.510M $0.00
YoY Change
Cash From Investing Activities $3.474M $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 $481.0K $213.8M
YoY Change -99.78%
NET CHANGE
Cash From Operating Activities -$24.46M -$11.32M
Cash From Investing Activities $3.474M $0.00
Cash From Financing Activities $481.0K $213.8M
Net Change In Cash -$20.50M $202.5M
YoY Change -110.12% -3040.26%
FREE CASH FLOW
Cash From Operating Activities -$24.46M -$11.32M
Capital Expenditures $40.00K $0.00
Free Cash Flow -$24.50M -$11.32M
YoY Change 116.41% 64.33%

Facts In Submission

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CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
280753000 USD
CY2020Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
3.01581
CY2021Q1 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.
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
275615000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
465000 USD
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
130000 USD
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
275950000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
279848000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
651000 USD
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
37000 USD
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
280462000 USD
CY2021Q1 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
0 USD
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
974000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
549000 USD
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
183000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
164000 USD
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
791000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
385000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
19000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
10000 USD
CY2021Q1 bdtx Accrued Contract Research Service Fees Current
AccruedContractResearchServiceFeesCurrent
8814000 USD
CY2020Q4 bdtx Accrued Contract Research Service Fees Current
AccruedContractResearchServiceFeesCurrent
5102000 USD
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2258000 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3729000 USD
CY2021Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2215000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1603000 USD
CY2021Q1 bdtx Accrued Legal Fees Current
AccruedLegalFeesCurrent
375000 USD
CY2020Q4 bdtx Accrued Legal Fees Current
AccruedLegalFeesCurrent
199000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
426000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1047000 USD
CY2021Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14088000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11680000 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
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3094000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1877000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3094000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1877000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
37715000 USD
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3752744 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.71
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
62842000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1136502 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
27.18
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
62607 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.70
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
16377 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
29.05
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4810262 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.48
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4810262 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
18.48
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P9Y
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
37715000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
989263 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
10.22
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y6M
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
13895000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
45413000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-30301000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-12145000 USD
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36123014 shares
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36123014 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23699255 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23699255 shares
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.84
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.84
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.51
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.51
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4880357 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3093103 shares
CY2021Q1 bdtx Lessee Operating Lease Number Of Contracts
LesseeOperatingLeaseNumberOfContracts
3 contract
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
462000 USD
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
287000 USD
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
33000 USD
CY2021Q1 us-gaap Lease Cost
LeaseCost
782000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
370000 USD
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M18D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1541000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2433000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2415000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2476000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2538000 USD
CY2021Q1 bdtx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
7073000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18476000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3238000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
15238000 USD
CY2021Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
CY2021Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2021Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
345000 USD
CY2020Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
149000 USD
CY2020Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
0 USD
CY2021Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
0 USD
CY2020Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1880000 USD
CY2021Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
0 USD

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