$BNTC
Benitec Biopharma Inc.

2021 Q1 Form 10-Q Financial Statement

#000119312521033243 Filed on February 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020 Q2
Revenue $1.000K $1.000K $102.0K
YoY Change -96.43% -98.7% -89.52%
Cost Of Revenue $10.00K -$20.00K -$185.0K
YoY Change -78.72% -93.71% -365.16%
Gross Profit -$10.00K $20.00K $287.0K
YoY Change -47.37% -95.47% -68.22%
Gross Profit Margin -1000.0% 2000.0% 281.37%
Selling, General & Admin $1.030M $2.110M $5.567M
YoY Change -19.97% -45.78% 54.37%
% of Gross Profit 10550.0% 1939.72%
Research & Development $2.758M $1.168M $3.001M
YoY Change 242.61% 94.99% 166.07%
% of Gross Profit 5840.0% 1045.64%
Depreciation & Amortization $67.00K $67.00K
YoY Change 39.58% 31.37%
% of Gross Profit 335.0%
Operating Expenses $3.794M $3.260M $8.568M
YoY Change 77.37% 48.99% 77.24%
Operating Profit -$3.793M -$3.259M -$8.281M
YoY Change 79.68% 54.38% 110.66%
Interest Expense -$2.000K -$2.000K -$27.00K
YoY Change -112.5% -111.76% -133.82%
% of Operating Profit
Other Income/Expense, Net -$116.0K $7.000K $34.00K
YoY Change -1388.89% -66.67%
Pretax Income -$3.910M -$3.250M -$8.274M
YoY Change 86.01% -10.95% 114.71%
Income Tax
% Of Pretax Income
Net Earnings -$3.909M -$3.252M -$8.274M
YoY Change 85.97% 55.6% 114.71%
Net Earnings / Revenue -390900.0% -325200.0% -8111.76%
Basic Earnings Per Share
Diluted Earnings Per Share -$823.2K -$755.8K -$8.102M
COMMON SHARES
Basic Shares Outstanding 4.540M 4.405M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q4 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.99M $14.01M
YoY Change 0.79%
Cash & Equivalents $11.99M $14.01M $9.801M
Short-Term Investments
Other Short-Term Assets $409.0K $352.0K $949.0K
YoY Change -37.14% 89.04%
Inventory
Prepaid Expenses $587.0K $538.0K $861.0K
Receivables $10.00K $20.00K
Other Receivables $0.00 $21.00K $59.00K
Total Short-Term Assets $12.41M $14.38M $10.81M
YoY Change -6.54% -42.37%
LONG-TERM ASSETS
Property, Plant & Equipment $563.0K $610.0K $374.0K
YoY Change -35.79% -20.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.00K $10.00K
YoY Change 0.0%
Other Assets $197.0K $210.0K
YoY Change
Total Long-Term Assets $1.021M $1.129M $778.0K
YoY Change 17.6% 62.42%
TOTAL ASSETS
Total Short-Term Assets $12.41M $14.38M $10.81M
Total Long-Term Assets $1.021M $1.129M $778.0K
Total Assets $13.43M $15.51M $11.59M
YoY Change -5.13% -39.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.640M $90.00K
YoY Change -10.0%
Accrued Expenses $620.0K $600.0K
YoY Change 275.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.444M $779.0K $1.136M
YoY Change 2.5% -56.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $50.00K $110.0K
YoY Change
Total Long-Term Liabilities $50.00K $110.0K
YoY Change -66.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.444M $779.0K $1.136M
Total Long-Term Liabilities $50.00K $110.0K
Total Liabilities $2.498M $887.0K $1.349M
YoY Change -18.62% -48.92%
SHAREHOLDERS EQUITY
Retained Earnings -$126.1M -$122.2M -$116.6M
YoY Change 7.13%
Common Stock $138.6M $138.4M $128.8M
YoY Change 1.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.93M $14.63M $10.24M
YoY Change
Total Liabilities & Shareholders Equity $13.43M $15.51M $11.59M
YoY Change -5.13% -39.76%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020 Q2
OPERATING ACTIVITIES
Net Income -$3.909M -$3.252M -$8.274M
YoY Change 85.97% 55.6% 114.71%
Depreciation, Depletion And Amortization $67.00K $67.00K
YoY Change 39.58% 31.37%
Cash From Operating Activities -$1.990M -$3.330M -$3.145M
YoY Change 432.53% -17.09% -132.42%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$180.0K -$13.00K
YoY Change -214.97% 98.46% -96.64%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Cash From Investing Activities -$10.00K -$180.0K -$13.00K
YoY Change -212.07% 100.17% -95.69%
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 9.850M 0.000
YoY Change -100.0% 412.15%
NET CHANGE
Cash From Operating Activities -1.990M -3.330M -3.145M
Cash From Investing Activities -10.00K -180.0K -13.00K
Cash From Financing Activities 0.000 9.850M 0.000
Net Change In Cash -2.000M 6.340M -3.158M
YoY Change 286.07% -390.43% -133.6%
FREE CASH FLOW
Cash From Operating Activities -$1.990M -$3.330M -$3.145M
Capital Expenditures -$10.00K -$180.0K -$13.00K
Free Cash Flow -$1.980M -$3.150M -$3.132M
YoY Change 417.8% -19.76% -131.05%

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dei Entity Registrant Name
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Benitec Biopharma Inc.
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PropertyPlantAndEquipmentGross
1170000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
908000
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
796000
CY2020Q4 us-gaap Depreciation
Depreciation
67000
us-gaap Depreciation
Depreciation
112000
CY2019Q4 us-gaap Depreciation
Depreciation
51000
us-gaap Depreciation
Depreciation
102000
CY2020Q4 bntc Accrued Licence Fees Current
AccruedLicenceFeesCurrent
142000
CY2020Q2 bntc Accrued Licence Fees Current
AccruedLicenceFeesCurrent
54000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
35000
CY2020Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
155000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
91000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
250000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
218000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
105000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
323000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
311000
CY2020Q4 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P1Y5M12D
CY2020Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0467
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
384676
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
252516
CY2020Q3 bntc Class Of Warrants Or Rights Grants In Period
ClassOfWarrantsOrRightsGrantsInPeriod
0
CY2020Q4 bntc Class Of Warrants Or Rights Grants In Period
ClassOfWarrantsOrRightsGrantsInPeriod
559162
CY2020Q3 bntc Class Of Warrants Or Rights Excercised During The Period
ClassOfWarrantsOrRightsExcercisedDuringThePeriod
0
CY2020Q4 bntc Class Of Warrants Or Rights Excercised During The Period
ClassOfWarrantsOrRightsExcercisedDuringThePeriod
281581
CY2020Q3 bntc Class Of Warrants Or Rights Cashless Exercise Of Warrants
ClassOfWarrantsOrRightsCashlessExerciseOfWarrants
38326
CY2020Q2 bntc Weighted Average Exercise Price Of Class Of Warrants Or Rights Outstanding
WeightedAverageExercisePriceOfClassOfWarrantsOrRightsOutstanding
29.48
CY2020Q3 bntc Weighted Average Exercise Price Of Class Of Warrants Or Rights Outstanding
WeightedAverageExercisePriceOfClassOfWarrantsOrRightsOutstanding
10.50
CY2020Q4 bntc Weighted Average Exercise Price Of Class Of Warrants Or Rights Outstanding
WeightedAverageExercisePriceOfClassOfWarrantsOrRightsOutstanding
5.15
CY2020Q3 bntc Weighted Average Exercise Price Of Class Of Warrants Or Granted During The Period
WeightedAverageExercisePriceOfClassOfWarrantsOrGrantedDuringThePeriod
0
CY2020Q4 bntc Weighted Average Exercise Price Of Class Of Warrants Or Granted During The Period
WeightedAverageExercisePriceOfClassOfWarrantsOrGrantedDuringThePeriod
3.09
CY2020Q3 bntc Weighted Average Exercise Price Of Class Of Warrants Or Exercised During The Period
WeightedAverageExercisePriceOfClassOfWarrantsOrExercisedDuringThePeriod
0
CY2020Q4 bntc Weighted Average Exercise Price Of Class Of Warrants Or Exercised During The Period
WeightedAverageExercisePriceOfClassOfWarrantsOrExercisedDuringThePeriod
3.10
CY2020Q3 bntc Weighted Average Exercise Price Of Class Of Warrants Or Exercised During The Period Cash Less Exercise Of Warrants
WeightedAverageExercisePriceOfClassOfWarrantsOrExercisedDuringThePeriodCashLessExerciseOfWarrants
82.50
CY2020Q4 bntc Weighted Average Exercise Price Of Class Of Warrants Or Exercised During The Period Cash Less Exercise Of Warrants
WeightedAverageExercisePriceOfClassOfWarrantsOrExercisedDuringThePeriodCashLessExerciseOfWarrants
0
CY2020Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
145421
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Local Phone Number
LocalPhoneNumber
780-0819
CY2020Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
107095
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
384676
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
104000000
CY2020Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
52000000
CY2019Q4 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
52000000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
104000000
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
210000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2019-11-22
CY2019Q4 bntc Common Stock Shares Redomiciliation Description
CommonStockSharesRedomiciliationDescription
one Benitec Biopharma Inc. share for every 300 BBL shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;">The preparation of the Company&#8217;s consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the Company&#8217;s consolidated financial statements and accompanying notes. The most significant estimates and assumptions in the Company&#8217;s consolidated financial statements include the estimates of useful lives of property and equipment, valuation of the operating lease liability and related <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">right-of-use</div></div> asset, allowance for uncollectable receivables, valuation of equity based instruments issued for other than cash, the valuation allowance on deferred tax assets and foreign currency translation due to certain average exchange rates applied in lieu of spot rates on transaction dates. These estimates and assumptions are based on current facts, historical experience and various other factors 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 and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company&#8217;s future results of operations will be affected.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Concentrations of Risk </div></div></div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash. The Company maintains deposits at federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts, and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
21000
CY2020Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
59000
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
210000
CY2020Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
87000
CY2020Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
282000
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Address Address Line1
EntityAddressAddressLine1
3940 Trust Way Hayward
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94545
dei City Area Code
CityAreaCode
(510)
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
37000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
15251000
CY2020Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
82000
CY2019Q3 bntc Issuance And Exercise Of Prefunded Warrants Net Of Transaction Costs
IssuanceAndExerciseOfPrefundedWarrantsNetOfTransactionCosts
50000
CY2020Q4 bntc Issuance And Exercise Of Prefunded Warrants Net Of Transaction Costs
IssuanceAndExerciseOfPrefundedWarrantsNetOfTransactionCosts
9851000
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-1000
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2020Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
82000
CY2019Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
120000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
92000
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1393000

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