$CCCC
C4 Therapeutics, Inc.

2020 Q4 Form 10-Q Financial Statement

#000156459020053604 Filed on November 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $8.260M $8.450M $21.38M
YoY Change -61.37%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.730M $2.860M $8.728M
YoY Change -22.89%
% of Gross Profit
Research & Development $20.43M $23.94M $46.56M
YoY Change -56.12% 84.85%
% of Gross Profit
Depreciation & Amortization $370.0K $420.0K $850.0K
YoY Change -56.47%
% of Gross Profit
Operating Expenses $27.17M $26.80M $56.83M
YoY Change -52.19% 74.4%
Operating Profit -$18.35M
YoY Change 83.47%
Interest Expense -$2.970M -$3.490M $1.832M
YoY Change -262.12%
% of Operating Profit
Other Income/Expense, Net -$40.00K -$3.653M $325.0K
YoY Change -112.31% -755.83%
Pretax Income -$21.92M -$22.00M -$33.30M
YoY Change -34.16% 132.97%
Income Tax -$120.0K -$167.0K $804.0K
% Of Pretax Income
Net Earnings -$21.80M -$21.84M -$34.10M
YoY Change -36.07% 116.32%
Net Earnings / Revenue -263.92% -258.4% -159.48%
Basic Earnings Per Share -$17.55
Diluted Earnings Per Share -$506.3K -$525.6K -$820.8K
COMMON SHARES
Basic Shares Outstanding 43.03M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $371.7M $199.4M $90.55M
YoY Change 310.5%
Cash & Equivalents $181.7M $63.43M $90.55M
Short-Term Investments $190.0M $136.0M $0.00
Other Short-Term Assets $4.800M $5.400M
YoY Change
Inventory
Prepaid Expenses
Receivables $4.484M $4.141M $4.623M
Other Receivables $0.00 $0.00
Total Short-Term Assets $381.0M $208.9M $96.77M
YoY Change 293.74%
LONG-TERM ASSETS
Property, Plant & Equipment $3.323M $3.580M $4.463M
YoY Change -25.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.600M $502.0K
YoY Change
Total Long-Term Assets $19.13M $20.20M $21.49M
YoY Change -11.0%
TOTAL ASSETS
Total Short-Term Assets $381.0M $208.9M $96.77M
Total Long-Term Assets $19.13M $20.20M $21.49M
Total Assets $400.1M $229.1M $118.3M
YoY Change 238.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.683M $5.264M $5.385M
YoY Change 5.53%
Accrued Expenses $10.10M $10.70M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $43.85M $40.01M $33.64M
YoY Change 30.35%
LONG-TERM LIABILITIES
Long-Term Debt $10.05M $9.900M
YoY Change
Other Long-Term Liabilities $65.40M $78.60M
YoY Change
Total Long-Term Liabilities $10.05M $88.50M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $43.85M $40.01M $33.64M
Total Long-Term Liabilities $10.05M $88.50M
Total Liabilities $119.3M $128.5M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$183.8M -$117.5M
YoY Change 56.46%
Common Stock $464.6M $6.096M $5.525M
YoY Change 8309.07%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $280.8M -$155.9M -$112.0M
YoY Change
Total Liabilities & Shareholders Equity $400.1M $229.1M $118.3M
YoY Change 238.35%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income -$21.80M -$21.84M -$34.10M
YoY Change -36.07% 116.32%
Depreciation, Depletion And Amortization $370.0K $420.0K $850.0K
YoY Change -56.47%
Cash From Operating Activities -$21.54M -$14.45M -$18.21M
YoY Change 18.29%
INVESTING ACTIVITIES
Capital Expenditures -$290.0K -$280.0K -$70.00K
YoY Change 314.29%
Acquisitions
YoY Change
Other Investing Activities -$53.93M -$31.99M $14.62M
YoY Change -468.88%
Cash From Investing Activities -$54.23M -$32.26M $14.55M
YoY Change -472.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 194.1M 2.500M 210.0K
YoY Change 92304.76%
NET CHANGE
Cash From Operating Activities -21.54M -14.45M -18.21M
Cash From Investing Activities -54.23M -32.26M 14.55M
Cash From Financing Activities 194.1M 2.500M 210.0K
Net Change In Cash 118.3M -44.21M -3.450M
YoY Change -3528.41%
FREE CASH FLOW
Cash From Operating Activities -$21.54M -$14.45M -$18.21M
Capital Expenditures -$290.0K -$280.0K -$70.00K
Free Cash Flow -$21.25M -$14.17M -$18.14M
YoY Change 17.14%

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-27115000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
64662000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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us-gaap Payments Of Stock Issuance Costs
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us-gaap Payments Of Debt Issuance Costs
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0
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CY2020Q3 us-gaap Cash Cash Equivalents And Short Term Investments
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199400000
us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
one-for-8.4335
CY2020Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2020Q3 us-gaap Investments Fair Value Disclosure
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CY2020Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
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CY2020Q3 cccc Warrants Fair Value Disclosure
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CY2020Q3 us-gaap Financial Liabilities Fair Value Disclosure
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CY2019Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
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CY2019Q4 us-gaap Assets Fair Value Disclosure
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CY2020Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0
CY2020Q3 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
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us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
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0
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0
CY2020Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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0
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FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
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0
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0
CY2020Q3 cccc Fair Value Assets Level1 To Level3 Transfers Amount
FairValueAssetsLevel1ToLevel3TransfersAmount
0
CY2019Q3 cccc Fair Value Assets Level1 To Level3 Transfers Amount
FairValueAssetsLevel1ToLevel3TransfersAmount
0
CY2020Q3 cccc Fair Value Assets Level3 To Level1 Transfers Amount
FairValueAssetsLevel3ToLevel1TransfersAmount
0
CY2019Q3 cccc Fair Value Assets Level3 To Level1 Transfers Amount
FairValueAssetsLevel3ToLevel1TransfersAmount
0
CY2020Q3 cccc Fair Value Liabilities Level1 To Level3 Transfers Amount
FairValueLiabilitiesLevel1ToLevel3TransfersAmount
0
CY2019Q3 cccc Fair Value Liabilities Level1 To Level3 Transfers Amount
FairValueLiabilitiesLevel1ToLevel3TransfersAmount
0
CY2020Q3 cccc Fair Value Liabilities Level3 To Level1 Transfers Amount
FairValueLiabilitiesLevel3ToLevel1TransfersAmount
0
CY2019Q3 cccc Fair Value Liabilities Level3 To Level1 Transfers Amount
FairValueLiabilitiesLevel3ToLevel1TransfersAmount
0
CY2020Q3 cccc Fair Value Assets Level2 To Level3 Transfers Amount
FairValueAssetsLevel2ToLevel3TransfersAmount
0
CY2019Q3 cccc Fair Value Assets Level2 To Level3 Transfers Amount
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0
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2483000
CY2020Q3 cccc Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
8833000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18889000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5792000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2020Q3 cccc Accrued Research And Development Current
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CY2019Q4 cccc Accrued Research And Development Current
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CY2020Q3 us-gaap Accrued Employee Benefits Current
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2727000
CY2019Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
3048000
CY2020Q3 cccc Fair Value Assets Level3 To Level2 Transfers Amount
FairValueAssetsLevel3ToLevel2TransfersAmount
0
CY2019Q3 cccc Fair Value Assets Level3 To Level2 Transfers Amount
FairValueAssetsLevel3ToLevel2TransfersAmount
0
CY2020Q3 cccc Fair Value Liabilities Level2 To Level3 Transfers Amount
FairValueLiabilitiesLevel2ToLevel3TransfersAmount
0
CY2019Q3 cccc Fair Value Liabilities Level2 To Level3 Transfers Amount
FairValueLiabilitiesLevel2ToLevel3TransfersAmount
0
CY2020Q3 cccc Fair Value Liabilities Level3 To Level2 Transfers Amount
FairValueLiabilitiesLevel3ToLevel2TransfersAmount
0
CY2019Q3 cccc Fair Value Liabilities Level3 To Level2 Transfers Amount
FairValueLiabilitiesLevel3ToLevel2TransfersAmount
0
CY2020Q3 us-gaap Property Plant And Equipment Gross
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8786000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8417000
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5207000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3954000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
551000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2272000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2340000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2410000
CY2020Q3 us-gaap Accrued Professional Fees Current
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1552000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
728000
CY2020Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
164000
CY2019Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
280000
CY2020Q3 us-gaap Receivables Net Current
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4141000
CY2020Q3 us-gaap Deferred Revenue
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CY2019Q4 us-gaap Receivables Net Current
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4623000
CY2019Q4 us-gaap Deferred Revenue
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2.26
CY2020Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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1.05
CY2020Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P9Y9M
CY2020Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.118574732
us-gaap Common Stock Voting Rights
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one vote for each share
CY2020Q3 us-gaap Temporary Equity Shares Authorized
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264000000
CY2019Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
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CY2020Q3 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
256003042
CY2019Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
113145900
CY2020Q3 us-gaap Temporary Equity Shares Outstanding
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256003042
CY2019Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
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CY2020Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
256520000
CY2019Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
110995000
CY2020Q3 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
256520000
CY2019Q4 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
110995000
CY2020Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
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30355379
CY2019Q4 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
13416155
us-gaap Preferred Stock Conversion Basis
PreferredStockConversionBasis
8.4335-to-one
cccc Redeemable Convertible Preferred Stock Conversion Ratio
RedeemableConvertiblePreferredStockConversionRatio
8.4335
cccc Proceeds From Issuance Underwritten Public Offering
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50000000
us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
every 8.4335 shares of Preferred Stock was entitled to one vote
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
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436000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
627000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
713000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
913000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
100000
CY2020Q1 cccc Payments For Relinquishment Of Right To Purchase Common Stock Upon Exercise Of Stock Options
PaymentsForRelinquishmentOfRightToPurchaseCommonStockUponExerciseOfStockOptions
800000
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-17.55
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.93
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-36.76
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-22.59

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