$CARM
Carisma Therapeutics Inc Stock $carm

$carm Overview Financials Valuation SEC Filings Company Website

2019 Q4 Form 10-Q Financial Statement

#000148500319000090 Filed on November 12, 2019

Income Statement

Concept	2019 Q4	2019 Q3	2018 Q3
Revenue	$0.00	$0.00	$0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin	$3.300M	$3.240M	$3.830M
YoY Change	-5.71%	-15.4%	134.97%
% of Gross Profit
Research & Development	$5.420M	$6.613M	$3.372M
YoY Change	16.06%	96.12%	-6.83%
% of Gross Profit
Depreciation & Amortization	$60.00K	$50.00K	$60.00K
YoY Change	20.0%	-16.67%	20.0%
% of Gross Profit
Operating Expenses	$33.74M	$13.45M	$14.40M
YoY Change	377.47%	-6.57%	57.34%
Operating Profit	-$33.74M	-$13.45M	-$14.40M
YoY Change	377.47%	-6.57%	57.34%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net	$190.0K	$319.0K	$382.0K
YoY Change	-38.71%	-16.49%	748.89%
Pretax Income	-$33.55M	-$13.13M	-$14.02M
YoY Change	396.3%	-6.35%	53.9%
Income Tax		$0.00
% Of Pretax Income
Net Earnings	-$33.55M	-$13.13M	-$14.02M
YoY Change	396.57%	-6.3%	53.93%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share	-$322.6K	-$129.7K	-$182.0K
COMMON SHARES
Basic Shares Outstanding	104.7M shares	101.3M shares	77.01M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2019 Q4	2019 Q3	2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$48.10M	$57.90M	$57.90M
YoY Change	-4.56%	0.0%	412.39%
Cash & Equivalents	$48.12M	$57.90M	$57.86M
Short-Term Investments
Other Short-Term Assets	$6.300M	$1.500M	$1.500M
YoY Change	384.62%	0.0%	87.5%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$54.45M	$59.41M	$59.39M
YoY Change	5.2%	0.05%	390.46%
LONG-TERM ASSETS
Property, Plant & Equipment	$238.0K	$294.0K	$365.0K
YoY Change	-25.86%	-19.45%	-37.61%
Goodwill	$13.10M	$13.06M	$13.06M
YoY Change	0.28%	0.0%	0.0%
Intangibles	$46.40M	$46.40M	$46.40M
YoY Change	0.0%	0.0%	0.0%
Long-Term Investments
YoY Change
Other Assets	$196.0K	$208.0K	$61.00K
YoY Change		240.98%	-39.6%
Total Long-Term Assets	$59.92M	$59.99M	$59.91M
YoY Change	0.19%	0.13%	-0.42%
TOTAL ASSETS
Total Short-Term Assets	$54.45M	$59.41M	$59.39M
Total Long-Term Assets	$59.92M	$59.99M	$59.91M
Total Assets	$114.4M	$119.4M	$119.3M
YoY Change	2.51%	0.09%	65.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$1.902M	$2.583M	$1.391M
YoY Change	39.14%	85.69%	1.83%
Accrued Expenses	$6.169M	$6.350M	$5.170M
YoY Change	29.98%	22.82%	77.36%
Deferred Revenue	$0.00
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$8.517M	$9.092M	$6.561M
YoY Change	39.33%	38.58%	48.98%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$0.00	$311.0K	$311.0K
YoY Change	-100.0%	0.0%	82.94%
Total Long-Term Liabilities	$0.00	$311.0K	$311.0K
YoY Change	-100.0%	0.0%	82.94%
TOTAL LIABILITIES
Total Short-Term Liabilities	$8.517M	$9.092M	$6.561M
Total Long-Term Liabilities	$0.00	$311.0K	$311.0K
Total Liabilities	$141.1M	$116.9M	$6.872M
YoY Change	109.44%	1601.56%	50.24%
SHAREHOLDERS EQUITY
Retained Earnings	-$293.5M	-$260.0M	-$179.3M
YoY Change	57.79%	44.99%	22.98%
Common Stock	$107.0K	$101.0K	$77.00K
YoY Change	38.96%	31.17%	208.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$26.70M	$2.467M	$50.40M
YoY Change
Total Liabilities & Shareholders Equity	$114.4M	$119.4M	$119.3M
YoY Change	2.51%	0.09%	65.07%

Cashflow Statement

Concept	2019 Q4	2019 Q3	2018 Q3
OPERATING ACTIVITIES
Net Income	-$33.55M	-$13.13M	-$14.02M
YoY Change	396.57%	-6.3%	53.93%
Depreciation, Depletion And Amortization	$60.00K	$50.00K	$60.00K
YoY Change	20.0%	-16.67%	20.0%
Cash From Operating Activities	-$13.80M	-$6.980M	-$5.200M
YoY Change	80.39%	34.23%	17.38%
INVESTING ACTIVITIES
Capital Expenditures	$0.00	-$100.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities			$0.00
YoY Change			-100.0%
Cash From Investing Activities	$0.00	-$100.0K	$0.00
YoY Change	-100.0%		-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	4.060M	0.000	90.00K
YoY Change	1745.45%	-100.0%
NET CHANGE
Cash From Operating Activities	-13.80M	-6.980M	-5.200M
Cash From Investing Activities	0.000	-100.0K	0.000
Cash From Financing Activities	4.060M	0.000	90.00K
Net Change In Cash	-9.740M	-7.080M	-5.110M
YoY Change	30.91%	38.55%	15.61%
FREE CASH FLOW
Cash From Operating Activities	-$13.80M	-$6.980M	-$5.200M
Capital Expenditures	$0.00	-$100.0K
Free Cash Flow	-$13.80M	-$6.880M
YoY Change	80.39%

Facts In Submission

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	dei	Document Period End Date DocumentPeriodEndDate	2019-09-30
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	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
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	dei	Entity Shell Company EntityShellCompany	false
	dei	Entity Small Business EntitySmallBusiness	true
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	us-gaap	Operating Lease Cost OperatingLeaseCost	222000	USD
CY2019Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	145000	USD
CY2019Q3	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	145000	USD
CY2018Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	31000	USD
CY2019Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	24000	USD
CY2018Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	0	USD
CY2019Q3	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	208000	USD
CY2018Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	0	USD
CY2019Q3	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	159000	USD
CY2018Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	313000	USD
CY2019Q3	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	311000	USD
CY2018Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	382000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	498000	USD
CY2019Q3	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	319000	USD
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	806000	USD
	us-gaap	Payments To Acquire Machinery And Equipment PaymentsToAcquireMachineryAndEquipment	137000	USD
CY2018Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2019Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
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CY2019Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000	shares
CY2018Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2019Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2018Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2019Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2018Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2019Q3	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2018Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1334000	USD
CY2019Q3	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1547000	USD
	us-gaap	Proceeds From Sale Of Machinery And Equipment ProceedsFromSaleOfMachineryAndEquipment	5000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	56000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	45000	USD
	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	21000	USD
	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	8000	USD
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	7315000	USD
	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	3434000	USD
CY2018Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	321000	USD
CY2019Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	294000	USD
CY2018Q3	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	3372000	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	9406000	USD
CY2019Q3	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	6613000	USD
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	19243000	USD
CY2018Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	20000	USD
CY2019Q3	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	20000	USD
CY2018Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-186024000	USD
CY2019Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-260000000	USD
CY2019Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-259971000	USD
CY2018Q3	us-gaap	Revenues Revenues	0	USD
	us-gaap	Revenues Revenues	0	USD
CY2019Q3	us-gaap	Revenues Revenues	0	USD
	us-gaap	Revenues Revenues	0	USD
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	236000	USD
CY2018Q1	us-gaap	Sale Of Stock Consideration Received On Transaction SaleOfStockConsiderationReceivedOnTransaction	9000000	USD
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	0.69
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	3986000	shares
CY2018Q2	us-gaap	Sale Of Stock Consideration Received On Transaction SaleOfStockConsiderationReceivedOnTransaction	41900000	USD
CY2019Q2	us-gaap	Sale Of Stock Consideration Received On Transaction SaleOfStockConsiderationReceivedOnTransaction	27800000	USD
CY2018Q1	us-gaap	Sale Of Stock Number Of Shares Issued In Transaction SaleOfStockNumberOfSharesIssuedInTransaction	8000000	shares
CY2018Q2	us-gaap	Sale Of Stock Number Of Shares Issued In Transaction SaleOfStockNumberOfSharesIssuedInTransaction	25600000	shares
CY2019Q2	us-gaap	Sale Of Stock Number Of Shares Issued In Transaction SaleOfStockNumberOfSharesIssuedInTransaction	20400000	shares
CY2018Q1	us-gaap	Sale Of Stock Price Per Share SaleOfStockPricePerShare	1.13
CY2018Q2	us-gaap	Sale Of Stock Price Per Share SaleOfStockPricePerShare	1.80
	us-gaap	Share Based Compensation ShareBasedCompensation	935000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	911000	USD
CY2019Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice	1.02
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate	0.781
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate	0.021
CY2019Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	1744000	shares
CY2019Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	2.42
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod	1448000	shares
CY2018Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	57000	USD
CY2019Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	680000	USD
CY2018Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	3942000	shares
CY2019Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	6450000	shares
CY2018Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	2.12
CY2019Q3	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	1.52
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	1.50
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice	1.76
	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	1.02
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P5Y11M23D
CY2019Q3	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	84000	USD
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P8Y1M6D
CY2018	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P9Y1M6D
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P9Y1M6D
CY2019Q3	us-gaap	Short Term Lease Cost ShortTermLeaseCost	59000	USD
	us-gaap	Short Term Lease Cost ShortTermLeaseCost	188000	USD
	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	30000	shares
CY2018Q1	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	10000	USD
CY2018Q3	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	11000	USD
CY2019Q1	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	7000	USD
CY2019Q3	us-gaap	Stock Issued During Period Value Employee Stock Purchase Plan StockIssuedDuringPeriodValueEmployeeStockPurchasePlan	1000	USD
CY2018Q1	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	9040000	USD
CY2018Q2	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	41932000	USD
CY2019Q2	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	27809000	USD
CY2018Q1	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	0	USD
CY2018Q2	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	29000	USD
CY2018Q3	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	27000	USD
CY2019Q2	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	45000	USD
CY2017Q4	us-gaap	Stockholders Equity StockholdersEquity	18034000	USD
CY2019Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	101266000	shares
CY2018Q1	us-gaap	Stockholders Equity StockholdersEquity	23858000	USD
CY2018Q2	us-gaap	Stockholders Equity StockholdersEquity	64064000	USD
CY2018Q3	us-gaap	Stockholders Equity StockholdersEquity	50395000	USD
CY2018Q4	us-gaap	Stockholders Equity StockholdersEquity	44207000	USD
CY2019Q1	us-gaap	Stockholders Equity StockholdersEquity	38060000	USD
CY2019Q2	us-gaap	Stockholders Equity StockholdersEquity	15369000	USD
CY2019Q3	us-gaap	Stockholders Equity StockholdersEquity	2467000	USD
CY2018Q4	us-gaap	Supplemental Unemployment Benefits Severance Benefits SupplementalUnemploymentBenefitsSeveranceBenefits	278000	USD
CY2019Q3	us-gaap	Supplemental Unemployment Benefits Severance Benefits SupplementalUnemploymentBenefitsSeveranceBenefits	613000	USD
CY2018Q1	us-gaap	Warrants And Rights Outstanding Term WarrantsAndRightsOutstandingTerm	P5Y
CY2019Q2	us-gaap	Warrants And Rights Outstanding Term WarrantsAndRightsOutstandingTerm	P1Y
CY2018Q3	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	77030000	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	56526000	shares
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	86575000	shares
	us-gaap	Basis Of Accounting BasisOfAccounting	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">BASIS OF PRESENTATION</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying financial statements have been prepared in accordance with United States generally accepted accounting principles (“GAAP”). Any reference in these notes to applicable guidance is meant to refer to GAAP as found in the ASC and Accounting Standards Updates (“ASUs”), promulgated by the Financial Accounting Standards Board (“FASB”).</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Interim Financial Statements</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying unaudited interim condensed consolidated financial statements have been prepared from the books and records of the Company in accordance with GAAP for interim financial information and Rule 10-01 of Regulation S-X promulgated by the United States Securities and Exchange Commission (“SEC”), which permit reduced disclosures for interim periods. All adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the accompanying condensed consolidated balance sheets and statements of operations and comprehensive loss, stockholders’ equity and cash flows have been made. Although these interim financial statements do not include all of the information and footnotes required for complete annual financial statements, management believes the disclosures are adequate to make the information presented not misleading. These unaudited interim results of operations and cash flows for the three and </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2019</font><font style="font-family:inherit;font-size:10pt;"> are not necessarily indicative of the results that may be expected for the full year. These unaudited interim condensed consolidated financial statements and footnotes should be read in conjunction with the Company’s audited annual consolidated financial statements and footnotes included in its Annual Report on Form 10-K, as filed with the SEC on March 1, 2019, wherein a more complete discussion of significant accounting policies and certain other information can be found.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in accordance with GAAP and the rules and regulations of the SEC requires the use of estimates and assumptions, based on judgments considered reasonable, which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience, known trends and events and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Although management believes its estimates and assumptions are reasonable when made, they are based upon information available at the time they are made. Management evaluates the estimates and assumptions on an ongoing basis and, if necessary, makes adjustments. Due to the risks and uncertainties involved in the Company’s business and evolving market conditions, and given the subjective element of the estimates and assumptions made, actual results may differ from estimated results. The most significant estimates and judgments impact the fair value of intangible assets, goodwill and contingent consideration; income taxes (including the valuation allowance for deferred tax assets); research and development expenses; and going concern considerations.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Principles of Consolidation</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company’s consolidated financial statements include the accounts of the Company, its wholly owned subsidiary, Viventia Bio, Inc. ("Viventia"), and its indirect subsidiaries, Viventia Bio USA Inc. and Viventia Biotech (EU) Limited. All intercompany transactions and balances have been eliminated in consolidation. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign Currency Translation</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The functional currency of the Company and each of its subsidiaries is the U.S. dollar.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On the Company's condensed consolidated statements of cash flows, proceeds from exercises of common stock warrants is now shown separately from proceeds from issuance of common stock and common stock warrants, net of issuance costs.</font></div></div>
	us-gaap	Nature Of Operations NatureOfOperations	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">DESCRIPTION OF BUSINESS</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Sesen Bio, Inc. ("Sesen" or the “Company”), a Delaware corporation, is a late-stage clinical company developing targeted fusion protein therapeutics ("TFPTs") composed of an anti-cancer antibody fragment tethered to a protein toxin for the treatment of cancer. The Company genetically fuses the cancer-targeting antibody fragment and the cytotoxic protein payload into a single molecule which is produced through the Company's proprietary one-step, microbial manufacturing process. The Company targets tumor cell surface antigens with limited expression on normal cells. Binding of the target antigen by the TFPT allows for rapid internalization into the targeted cancer cell. The Company has designed its targeted fusion proteins to overcome the fundamental efficacy and safety challenges inherent in existing antibody-drug conjugates ("ADCs"), where a payload is chemically attached to a targeting antibody.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company’s most advanced product candidate, VB4-845, also known as Vicinium®, is a locally-administered targeted fusion protein composed of an anti-EpCAM, or epithelial cell adhesion molecule, antibody fragment tethered to a truncated form of Pseudomonas exotoxin A for the treatment of high-risk, non-muscle invasive bladder cancer ("NMIBC"). The Company has an ongoing single-arm, multi-center, open-label Phase 3 clinical trial of Vicinium as a monotherapy in patients with high-risk, bacillus Calmette-Guérin ("BCG") unresponsive NMIBC, called the VISTA Trial. The VISTA Trial completed enrollment in April 2018 with a total of 133 patients, and the Company is continuing to collect and assess the trial data.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Liquidity and Going Concern</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">September 30, 2019</font><font style="font-family:inherit;font-size:10pt;">, the Company had cash and cash equivalents of $</font><font style="font-family:inherit;font-size:10pt;">57.9 million</font><font style="font-family:inherit;font-size:10pt;">, net working capital of $</font><font style="font-family:inherit;font-size:10pt;">50.3 million</font><font style="font-family:inherit;font-size:10pt;"> and an accumulated deficit of $</font><font style="font-family:inherit;font-size:10pt;">260.0 million</font><font style="font-family:inherit;font-size:10pt;">. The Company incurred negative cash flows from operating activities of </font><font style="font-family:inherit;font-size:10pt;">$22.8 million</font><font style="font-family:inherit;font-size:10pt;"> for the year ended December 31, 2018 and </font><font style="font-family:inherit;font-size:10pt;">$23.7 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2019</font><font style="font-family:inherit;font-size:10pt;">. Since its inception, the Company has received no revenue from sales of its products currently under development, and management anticipates that operating losses will continue for the foreseeable future as the Company continues its ongoing Phase 3 clinical trial for Vicinium and seeks marketing approval from the United States Food and Drug Administration ("FDA"). The Company has financed its operations to date primarily through private placements of its common stock, preferred stock and convertible bridge notes, venture debt borrowings, its initial public offering ("IPO"), follow-on public offerings, sales effected in an "at-the-market" ("ATM") offering and a License Agreement with F. Hoffmann-La Roche Ltd and Hoffman-La Roche Inc. (collectively, "Roche") (the "License Agreement"). See “Note 8. Stockholders’ Equity” below for information regarding the Company’s recently completed equity financings. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Under Accounting Standards Codification ("ASC") Topic 205-40, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Presentation of Financial Statements - Going Concern</font><font style="font-family:inherit;font-size:10pt;">, management is required at each reporting period to evaluate whether there are conditions and events, considered in the aggregate, that raise substantial doubt about an entity's ability to continue as a going concern within one year after the date that the financial statements are issued. This evaluation initially does not take into consideration the potential mitigating effect of management's plans that have not been fully implemented as of the date the financial statements are issued. When substantial doubt exists, management evaluates whether the mitigating effect of its plans sufficiently alleviates the substantial doubt about the Company's ability to continue as a going concern. The mitigating effect of management's plans, however, is only considered if both (i) it is probable that the plans will be effectively implemented within one year after the date that the financial statements are issued and (ii) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. Generally, to be considered probable of being effectively implemented, the plans must have been approved by the Company's Board of Directors before the date that the financial statements are issued. </font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's future success is dependent on its ability to develop its product candidates and ultimately upon its ability to attain profitable operations. In order to commercialize its product candidates, the Company needs to complete clinical development and comply with comprehensive regulatory requirements. The Company is subject to a number of risks similar to other late-stage clinical companies, including, but not limited to, successful discovery and development of its product candidates, raising additional capital, development by its competitors of new technological innovations, protection of proprietary technology and market acceptance of its products. The successful discovery and development of product candidates requires substantial working capital, and management expects to seek additional funds through equity or debt financings or through additional collaboration, licensing transactions or other sources. The Company may be unable to obtain equity or debt financings or enter into additional collaboration or licensing transactions at favorable terms, or at all. To the extent that the Company raises additional capital through the sale of equity or convertible debt securities, the ownership interests of existing stockholders will be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect the rights of existing stockholders. Debt financing, if available, may involve agreements that include liens or other restrictive covenants limiting the Company's ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. If the Company raises additional funds through government or other third-party funding, strategic collaborations and alliances or licensing arrangements, it may have to relinquish valuable rights to its technologies, future revenue streams, research programs or product candidates or grant licenses on terms that may not be favorable. If the Company is unable to raise additional funds when needed, it may be required to implement cost reduction strategies and delay, limit, reduce or terminate its product development or future commercialization efforts or grant rights to develop and market products or product candidates that management would otherwise prefer to develop and market.</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's management does not believe that its cash and cash equivalents of $</font><font style="font-family:inherit;font-size:10pt;">57.9 million</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">September 30, 2019</font><font style="font-family:inherit;font-size:10pt;"> is sufficient to fund the Company's current operating plan for at least twelve months after the issuance of these condensed consolidated financial statements. The history of significant losses, the negative cash flows from operations, the limited cash resources currently on hand and the dependence by the Company on its ability - about which there can be no certainty - to obtain additional financing to fund its operations after the current cash resources are exhausted raises substantial doubt about the Company's ability to continue as a going concern. These condensed consolidated financial statements were prepared under the assumption that the Company will continue as a going concern and do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.</font></div></div>
	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On the Company's condensed consolidated statements of cash flows, proceeds from exercises of common stock warrants is now shown separately from proceeds from issuance of common stock and common stock warrants, net of issuance costs.</font></div></div>
	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in accordance with GAAP and the rules and regulations of the SEC requires the use of estimates and assumptions, based on judgments considered reasonable, which affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience, known trends and events and various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Although management believes its estimates and assumptions are reasonable when made, they are based upon information available at the time they are made. Management evaluates the estimates and assumptions on an ongoing basis and, if necessary, makes adjustments. Due to the risks and uncertainties involved in the Company’s business and evolving market conditions, and given the subjective element of the estimates and assumptions made, actual results may differ from estimated results. The most significant estimates and judgments impact the fair value of intangible assets, goodwill and contingent consideration; income taxes (including the valuation allowance for deferred tax assets); research and development expenses; and going concern considerations.</font></div></div>

Files In Submission

Name	View Source	Status
0001485003-19-000090-index-headers.html	Edgar Link	pending
0001485003-19-000090-index.html	Edgar Link	pending
0001485003-19-000090.txt	Edgar Link	pending
0001485003-19-000090-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
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report.css	Edgar Link	pending
sesn-09302019x10q.htm	Edgar Link	pending
sesn-09302019x10qex101.htm	Edgar Link	pending
sesn-09302019x10qex103.htm	Edgar Link	pending
sesn-09302019x10qex311.htm	Edgar Link	pending
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sesn-09302019x10qex322.htm	Edgar Link	pending
sesn-20190930.xml	Edgar Link	completed
sesn-20190930.xsd	Edgar Link	pending
sesn-20190930_cal.xml	Edgar Link	unprocessable
sesn-20190930_def.xml	Edgar Link	unprocessable
sesn-20190930_lab.xml	Edgar Link	unprocessable
sesn-20190930_pre.xml	Edgar Link	unprocessable
Show.js	Edgar Link	pending

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$CARM
Carisma Therapeutics Inc Stock $carm

2019 Q4 Form 10-Q Financial Statement

#000148500319000090 Filed on November 12, 2019

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CARM Carisma Therapeutics Inc Stock $carm

2019 Q4 Form 10-Q Financial Statement

#000148500319000090 Filed on November 12, 2019

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CARM
Carisma Therapeutics Inc Stock $carm