$BMEA
Biomea Fusion, Inc.

2024 Q2 Form 10-Q Financial Statement

#000095017024052082 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.073M $7.283M $6.462M
YoY Change 23.68% 29.22% 12.64%
% of Gross Profit
Research & Development $31.83M $33.78M $30.87M
YoY Change 45.07% 38.45% 50.28%
% of Gross Profit
Depreciation & Amortization $400.0K $400.0K $415.0K
YoY Change 4.44% 33.33% 129.28%
% of Gross Profit
Operating Expenses $38.90M $41.06M $37.33M
YoY Change 40.64% 36.72% 42.06%
Operating Profit -$38.90M -$41.06M -$37.33M
YoY Change 40.64% 36.72% 42.06%
Interest Expense $1.622M $1.998M $2.444M
YoY Change -41.36% 103.88% 154.05%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$37.28M -$39.06M -$34.88M
YoY Change 49.76% 34.46% 37.81%
Income Tax
% Of Pretax Income
Net Earnings -$37.28M -$39.06M -$34.88M
YoY Change 49.76% 34.46% 37.81%
Net Earnings / Revenue
Basic Earnings Per Share -$1.03 -$1.09 -$0.98
Diluted Earnings Per Share -$1.03 -$1.09 -$0.98
COMMON SHARES
Basic Shares Outstanding 35.94M 35.89M 35.71M
Diluted Shares Outstanding 36.04M 35.89M 35.75M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $113.3M $144.9M $176.9M
YoY Change -49.18% 67.92% 56.45%
Cash & Equivalents $113.3M $144.9M $176.9M
Short-Term Investments $0.00
Other Short-Term Assets $3.002M $2.648M $2.315M
YoY Change -0.86% 0.65% -51.47%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $116.3M $147.6M $179.2M
YoY Change -48.53% 65.93% 52.08%
LONG-TERM ASSETS
Property, Plant & Equipment $4.445M $4.806M $14.87M
YoY Change -75.95% -23.62% 154.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change
Other Assets $6.747M $6.740M $5.873M
YoY Change 58.49% 73.31% 67.99%
Total Long-Term Assets $19.88M $20.93M $20.75M
YoY Change -12.59% -11.72% 80.59%
TOTAL ASSETS
Total Short-Term Assets $116.3M $147.6M $179.2M
Total Long-Term Assets $19.88M $20.93M $20.75M
Total Assets $136.2M $168.5M $199.9M
YoY Change -45.24% 49.59% 54.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.828M $4.709M $6.851M
YoY Change 40.3% -11.63% 0.37%
Accrued Expenses $19.12M $20.32M $15.82M
YoY Change 95.02% 56.06% 35.9%
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 $25.16M $25.25M $22.86M
YoY Change 75.27% 34.52% 19.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.053M $7.926M $7.830M
YoY Change -29.55% -26.17% 369.71%
Total Long-Term Liabilities $7.053M $7.926M $7.830M
YoY Change -29.55% -26.17% 369.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.16M $25.25M $22.86M
Total Long-Term Liabilities $7.053M $7.926M $7.830M
Total Liabilities $32.22M $33.18M $30.69M
YoY Change 32.2% 12.44% 47.78%
SHAREHOLDERS EQUITY
Retained Earnings -$325.2M -$287.9M -$248.8M
YoY Change 75.31% 79.27% 89.08%
Common Stock $4.000K $4.000K $4.000K
YoY Change 0.0% 33.33% 33.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $103.9M $135.3M $169.2M
YoY Change
Total Liabilities & Shareholders Equity $136.2M $168.5M $199.9M
YoY Change -45.24% 49.59% 54.61%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$37.28M -$39.06M -$34.88M
YoY Change 49.76% 34.46% 37.81%
Depreciation, Depletion And Amortization $400.0K $400.0K $415.0K
YoY Change 4.44% 33.33% 129.28%
Cash From Operating Activities -$32.64M -$32.03M -$22.83M
YoY Change 26.46% 33.21% 13.02%
INVESTING ACTIVITIES
Capital Expenditures $59.00K $35.00K $10.00K
YoY Change -85.85% -98.8% -98.6%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$59.00K -$35.00K -$10.00K
YoY Change -85.85% -98.01% -98.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.070M 116.0K 618.0K
YoY Change -99.34% -42.29% 26.12%
NET CHANGE
Cash From Operating Activities -32.64M -32.03M -22.83M
Cash From Investing Activities -59.00K -35.00K -10.00K
Cash From Financing Activities 1.070M 116.0K 618.0K
Net Change In Cash -31.63M -31.95M -22.22M
YoY Change -123.16% 24.81% 8.88%
FREE CASH FLOW
Cash From Operating Activities -$32.64M -$32.03M -$22.83M
Capital Expenditures $59.00K $35.00K $10.00K
Free Cash Flow -$32.70M -$32.07M -$22.84M
YoY Change 24.68% 18.98% 9.22%

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CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
174429000
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
174429000
CY2024Q1 bmea Fair Value Liabilities Level1 To Level2 Transfer Amount
FairValueLiabilitiesLevel1ToLevel2TransferAmount
0
CY2023Q1 bmea Fair Value Liabilities Level1 To Level2 Transfer Amount
FairValueLiabilitiesLevel1ToLevel2TransferAmount
0
CY2024Q1 bmea Fair Value Liabilities Level2 To Level1 Transfer Amount
FairValueLiabilitiesLevel2ToLevel1TransferAmount
0
CY2023Q1 bmea Fair Value Liabilities Level2 To Level1 Transfer Amount
FairValueLiabilitiesLevel2ToLevel1TransferAmount
0
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2023Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2023Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
0
CY2024Q1 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
0
CY2024Q1 us-gaap Investments
Investments
0
CY2023Q4 us-gaap Investments
Investments
0
CY2024Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAllowanceForCreditLoss
0
CY2024Q1 bmea Impairment Loss On Investments Available For Sale Securities
ImpairmentLossOnInvestmentsAvailableForSaleSecurities
0
CY2023Q1 bmea Impairment Loss On Investments Available For Sale Securities
ImpairmentLossOnInvestmentsAvailableForSaleSecurities
0
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7658000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7590000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2852000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2431000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4806000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5159000
CY2024Q1 us-gaap Depreciation
Depreciation
400000
CY2023Q1 us-gaap Depreciation
Depreciation
300000
CY2024Q1 bmea Accrued Research And Development Materials And Services
AccruedResearchAndDevelopmentMaterialsAndServices
14054000
CY2023Q4 bmea Accrued Research And Development Materials And Services
AccruedResearchAndDevelopmentMaterialsAndServices
6952000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2430000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5956000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
669000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
443000
CY2024Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
226000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
192000
CY2024Q1 bmea Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
17379000
CY2023Q4 bmea Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
13543000
CY2024Q1 bmea Reimbursement On Additional Lease Payments
ReimbursementOnAdditionalLeasePayments
400000
CY2024Q1 bmea Lease Term Annual Interest Rate
LeaseTermAnnualInterestRate
0.07
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
640000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
840000
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
990000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
980000
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
381000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
245000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3154000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2903000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1525000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1443000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1474000
CY2024Q1 bmea Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4827000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15326000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4234000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
11092000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3166000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7926000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
11092000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y1M6D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1142
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1143
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0
CY2023Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
161800000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
42900000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7357607
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.34
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1838510
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.6
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
22750
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.09
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
4082
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.61
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9169285
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.4
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4020182
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.08
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y7M6D
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9348926
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7301300

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