2022 Q1 Form 10-Q Financial Statement

#000170154122000018 Filed on May 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.893M $7.890M
YoY Change 0.04% 42.68%
% of Gross Profit
Research & Development $17.79M $22.82M
YoY Change -22.06% 210.31%
% of Gross Profit
Depreciation & Amortization $125.0K $19.00K
YoY Change 557.89% 90.0%
% of Gross Profit
Operating Expenses $25.68M $30.71M
YoY Change -16.39% 138.47%
Operating Profit -$25.68M -$30.71M
YoY Change -16.39% 138.47%
Interest Expense $406.0K $1.150M
YoY Change -64.7% 55.41%
% of Operating Profit
Other Income/Expense, Net $172.0K $412.0K
YoY Change -58.25% -43.87%
Pretax Income -$25.51M -$30.30M
YoY Change -15.82% 149.38%
Income Tax
% Of Pretax Income
Net Earnings -$25.51M -$30.30M
YoY Change -15.82% 149.49%
Net Earnings / Revenue
Basic Earnings Per Share -$0.70 -$0.84
Diluted Earnings Per Share -$0.70 -$0.84
COMMON SHARES
Basic Shares Outstanding 36.27M shares 36.12M shares
Diluted Shares Outstanding 36.27M shares 36.12M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $179.7M $290.1M
YoY Change -38.03% -18.8%
Cash & Equivalents $54.08M $14.11M
Short-Term Investments $125.7M $276.0M
Other Short-Term Assets $8.565M $7.300M
YoY Change 17.33% 48.98%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $188.3M $297.3M
YoY Change -36.67% -17.88%
LONG-TERM ASSETS
Property, Plant & Equipment $2.811M $791.0K
YoY Change 255.37% 413.64%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.00K $100.0K
YoY Change -90.0% 26.58%
Total Long-Term Assets $31.18M $15.91M
YoY Change 95.94% 2119.25%
TOTAL ASSETS
Total Short-Term Assets $188.3M $297.3M
Total Long-Term Assets $31.18M $15.91M
Total Assets $219.5M $313.3M
YoY Change -29.94% -13.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.883M $4.616M
YoY Change -59.21% 21.54%
Accrued Expenses $17.59M $14.09M
YoY Change 24.83% 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 $19.47M $18.70M
YoY Change 4.09% 156.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $27.45M $13.80M
YoY Change 98.93% 6800.0%
Total Long-Term Liabilities $27.45M $13.80M
YoY Change 98.93% 6800.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $19.47M $18.70M
Total Long-Term Liabilities $27.45M $13.80M
Total Liabilities $46.92M $32.51M
YoY Change 44.35% 331.17%
SHAREHOLDERS EQUITY
Retained Earnings -$269.3M -$148.5M
YoY Change 81.33% 135.32%
Common Stock $5.000K $5.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $172.6M $280.8M
YoY Change
Total Liabilities & Shareholders Equity $219.5M $313.3M
YoY Change -29.94% -13.66%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$25.51M -$30.30M
YoY Change -15.82% 149.49%
Depreciation, Depletion And Amortization $125.0K $19.00K
YoY Change 557.89% 90.0%
Cash From Operating Activities -$28.60M -$24.46M
YoY Change 16.95% 116.05%
INVESTING ACTIVITIES
Capital Expenditures $7.000K $40.00K
YoY Change -82.5%
Acquisitions
YoY Change
Other Investing Activities $16.74M $3.510M
YoY Change 376.81%
Cash From Investing Activities $16.73M $3.474M
YoY Change 381.55%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $153.0K $481.0K
YoY Change -68.19% -99.78%
NET CHANGE
Cash From Operating Activities -$28.60M -$24.46M
Cash From Investing Activities $16.73M $3.474M
Cash From Financing Activities $153.0K $481.0K
Net Change In Cash -$11.72M -$20.50M
YoY Change -42.84% -110.12%
FREE CASH FLOW
Cash From Operating Activities -$28.60M -$24.46M
Capital Expenditures $7.000K $40.00K
Free Cash Flow -$28.61M -$24.50M
YoY Change 16.79% 116.41%

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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax
-1361000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-25507000 USD
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
172560000 USD
CY2022Q1 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 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.
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
127433000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
6000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1781000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
125658000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
144401000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
47000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
461000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
143987000 USD
CY2022Q1 bdtx Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date After Year One Through Three
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree
65238000 USD
CY2021Q4 bdtx Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date After Year One Through Three
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree
86187000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
65238000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
86187000 USD
CY2021Q1 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
0 USD
CY2022Q1 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSale
0 USD
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3305000 USD
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3404000 USD
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
494000 USD
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
369000 USD
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2811000 USD
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3035000 USD
CY2022Q1 us-gaap Depreciation
Depreciation
125000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
19000 USD
CY2022Q1 bdtx Accrued Contract Research Service Fees Current
AccruedContractResearchServiceFeesCurrent
12571000 USD
CY2021Q4 bdtx Accrued Contract Research Service Fees Current
AccruedContractResearchServiceFeesCurrent
12192000 USD
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2821000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5088000 USD
CY2022Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1401000 USD
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1935000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
793000 USD
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
320000 USD
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17586000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
29471000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
19535000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3375000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3094000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3375000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3094000 USD
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4903839 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.38
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
847000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1366350 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.78
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3565 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.20
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
347830 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
16.59
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5918794 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.29
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
56000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5918794 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
14.29
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y2M12D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
56000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2082574 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
16.05
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y10M24D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
49000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-25507000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-30301000 USD
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36271291 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36271291 shares
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
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.70
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.70
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.84
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.84
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6002865 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4880357 shares
CY2022Q1 bdtx Lessee Operating Lease Number Of Contracts
LesseeOperatingLeaseNumberOfContracts
2 contract
CY2021Q2 us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
5000 USD
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1059000 USD
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
462000 USD
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
19000 USD
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
287000 USD
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
257000 USD
CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
33000 USD
CY2022Q1 us-gaap Lease Cost
LeaseCost
1335000 USD
CY2021Q1 us-gaap Lease Cost
LeaseCost
782000 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
702000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
370000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y6M
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M18D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1241000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4244000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4359000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4477000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
4599000 USD
CY2022Q1 bdtx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
16972000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
35892000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7646000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
28246000 USD
CY2022Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
CY2022Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2022Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
558000 USD
CY2021Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
345000 USD

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