$CLSD
Clearside Biomedical, Inc.

2018 Q1 Form 10-Q Financial Statement

#000156459018012957 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $0.00 $5.000K
YoY Change -100.0% -99.01%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.070M $2.670M
YoY Change 14.98% 110.24%
% of Gross Profit
Research & Development $13.38M $7.590M
YoY Change 76.27% 65.4%
% of Gross Profit
Depreciation & Amortization $47.00K $30.00K
YoY Change 56.67% 76.47%
% of Gross Profit
Operating Expenses $16.45M $10.26M
YoY Change 60.34% 75.04%
Operating Profit -$16.45M -$10.26M
YoY Change 60.42% 91.45%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$154.0K -$117.0K
YoY Change 31.62% 27.17%
Pretax Income -$16.61M -$10.37M
YoY Change 60.17% 90.28%
Income Tax
% Of Pretax Income
Net Earnings -$16.61M -$10.37M
YoY Change 60.1% 90.37%
Net Earnings / Revenue -207460.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$619.3K -$410.7K
COMMON SHARES
Basic Shares Outstanding 31.91M 25.29M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $101.1M $77.50M
YoY Change 30.45% 387.42%
Cash & Equivalents $84.83M $22.99M
Short-Term Investments $16.20M $54.50M
Other Short-Term Assets $2.200M $3.000M
YoY Change -26.67% 2900.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $103.2M $80.50M
YoY Change 28.2% 403.13%
LONG-TERM ASSETS
Property, Plant & Equipment $800.0K $1.000M
YoY Change -20.0% 900.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $400.0K $500.0K
YoY Change -20.0% -37.5%
Total Long-Term Assets $1.300M $1.500M
YoY Change -13.33% 66.67%
TOTAL ASSETS
Total Short-Term Assets $103.2M $80.50M
Total Long-Term Assets $1.300M $1.500M
Total Assets $104.5M $82.00M
YoY Change 27.44% 385.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.700M $4.700M
YoY Change 42.55% 88.0%
Accrued Expenses $3.700M $1.500M
YoY Change 146.67% -40.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.200M $800.0K
YoY Change 300.0% -65.22%
Total Short-Term Liabilities $13.80M $7.200M
YoY Change 91.67% -1.37%
LONG-TERM LIABILITIES
Long-Term Debt $4.100M $6.900M
YoY Change -40.58% 86.49%
Other Long-Term Liabilities $600.0K $700.0K
YoY Change -14.29% 75.0%
Total Long-Term Liabilities $4.700M $7.600M
YoY Change -38.16% 85.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.80M $7.200M
Total Long-Term Liabilities $4.700M $7.600M
Total Liabilities $18.50M $14.80M
YoY Change 25.0% 29.82%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $85.92M $67.20M
YoY Change
Total Liabilities & Shareholders Equity $104.5M $82.00M
YoY Change 27.44% 385.21%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$16.61M -$10.37M
YoY Change 60.1% 90.37%
Depreciation, Depletion And Amortization $47.00K $30.00K
YoY Change 56.67% 76.47%
Cash From Operating Activities -$15.65M -$10.98M
YoY Change 42.56% 149.55%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $309.0K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $12.25M -$5.680M
YoY Change -315.67%
Cash From Investing Activities $12.25M -$5.990M
YoY Change -304.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $800.0K
YoY Change
Cash From Financing Activities 79.02M 5.130M
YoY Change 1440.31%
NET CHANGE
Cash From Operating Activities -15.65M -10.98M
Cash From Investing Activities 12.25M -5.990M
Cash From Financing Activities 79.02M 5.130M
Net Change In Cash 75.61M -11.84M
YoY Change -738.87% 168.98%
FREE CASH FLOW
Cash From Operating Activities -$15.65M -$10.98M
Capital Expenditures $0.00 $309.0K
Free Cash Flow -$15.65M -$11.29M
YoY Change 38.66% 156.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3200000
CY2017Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
199000
CY2017Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
610000
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
13379000
CY2018Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3074000
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
16453000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-16453000
CY2018Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-154000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-16607000
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.62
CY2018Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
26818137
CY2018Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
7000
CY2018Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
43000
CY2018Q1 clsd Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
-26000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-15653000
CY2018Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
8725000
CY2017Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
6975000
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
309000
CY2017Q1 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
156000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
12245000
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-5990000
CY2018Q1 clsd Proceeds From Issuance Follow On Public Offering
ProceedsFromIssuanceFollowOnPublicOffering
79581000
CY2017Q1 clsd Proceeds From Issuance Follow On Public Offering
ProceedsFromIssuanceFollowOnPublicOffering
5057000
CY2018Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
237000
CY2017Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
76000
CY2018Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
800000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
79018000
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
5133000
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
75610000
CY2017Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11835000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9584000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35184000
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
85194000
CY2017Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23349000
CY2017Q1 clsd Noncash Tenant Improvements Paid By Landlord
NoncashTenantImprovementsPaidByLandlord
637000
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of income and expenses during the reporting periods. Significant items subject to such estimates and assumptions include the accounting for useful lives to calculate depreciation and amortization, clinical trial estimates and related accrued liabilities, share-based compensation expense and income tax valuation allowance. Actual results could differ from these estimates.</p></div>
CY2018Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentration of Credit Risk Arising From Cash Deposits in Excess of Insured Limits</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The Company maintains its cash in bank deposits that at times may exceed federally insured limits. The Company has not experienced any loss in such accounts. The Company believes it is not exposed to any significant risks with respect to its cash balances.</p></div>
CY2018Q1 clsd Fair Value Assets Between Level1 Level2 And Level3 Transfers Amount
FairValueAssetsBetweenLevel1Level2AndLevel3TransfersAmount
0
CY2017Q4 clsd Fair Value Assets Between Level1 Level2 And Level3 Transfers Amount
FairValueAssetsBetweenLevel1Level2AndLevel3TransfersAmount
0
CY2018Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
101415000
CY2017Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
38000000
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3165725
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2208888
CY2018Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
379000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
203000
CY2018Q1 us-gaap Interest Expense Borrowings
InterestExpenseBorrowings
161000
CY2018Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2011-05-26
CY2018Q1 clsd Stock Issued During Period Shares Follow On Offering
StockIssuedDuringPeriodSharesFollowOnOffering
6538462
CY2018Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
13.00
CY2018Q1 clsd Proceeds From Issuance Follow On Public Offering
ProceedsFromIssuanceFollowOnPublicOffering
79600000
CY2018Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
101100000
CY2018Q1 clsd Short Term Investments Maturity Period Range Start
ShortTermInvestmentsMaturityPeriodRangeStart
P90D
CY2018Q1 clsd Short Term Investments Maturity Period Range End
ShortTermInvestmentsMaturityPeriodRangeEnd
P365D
CY2017Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
22989000
CY2017Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
360000
CY2018Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1123000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1132000
CY2018Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
285000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
247000
CY2018Q1 clsd Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
2682000
CY2017Q4 clsd Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
3360000
CY2018Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
274000
CY2017Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
920000
CY2018Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
224000
CY2017Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
62000
CY2018Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
84000
CY2017Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
113000
CY2018Q1 us-gaap Interest Payable Current
InterestPayableCurrent
54000
CY2017Q4 us-gaap Interest Payable Current
InterestPayableCurrent
58000
CY2018Q1 clsd Accretion Of Final Payment Of Amount Borrowed
AccretionOfFinalPaymentOfAmountBorrowed
49000
CY2017Q1 clsd Accretion Of Final Payment Of Amount Borrowed
AccretionOfFinalPaymentOfAmountBorrowed
52000
CY2018Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
49000
CY2017Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
53000
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2400000
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3200000
CY2018Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1600000
CY2018Q1 us-gaap Long Term Debt
LongTermDebt
7200000
CY2018Q1 clsd Long Term Debt Maturities Repayments Of Interest And Final Payment Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfInterestAndFinalPaymentRemainderOfFiscalYear
336000
CY2018Q1 clsd Long Term Debt Maturities Repayments Of Interest And Final Payment In Year Two
LongTermDebtMaturitiesRepaymentsOfInterestAndFinalPaymentInYearTwo
234000
CY2018Q1 clsd Long Term Debt Maturities Repayments Of Interest And Final Payment In Year Three
LongTermDebtMaturitiesRepaymentsOfInterestAndFinalPaymentInYearThree
545000
CY2018Q1 clsd Long Term Debt Maturities Repayments Of Interest And Final Payment
LongTermDebtMaturitiesRepaymentsOfInterestAndFinalPayment
1115000
CY2018Q1 clsd Long Term Debt Maturities Repayments Of Principal Interest And Final Payment Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalInterestAndFinalPaymentRemainderOfFiscalYear
2736000
CY2018Q1 clsd Long Term Debt Maturities Repayments Of Principal Interest And Final Payment In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInterestAndFinalPaymentInYearTwo
3434000
CY2018Q1 clsd Long Term Debt Maturities Repayments Of Principal Interest And Final Payment In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInterestAndFinalPaymentInYearThree
2145000
CY2018Q1 clsd Long Term Debt Maturities Repayments Of Principal Interest And Final Payment
LongTermDebtMaturitiesRepaymentsOfPrincipalInterestAndFinalPayment
8315000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
326000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
444000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
458000
CY2018Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
472000
CY2018Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
16222000
CY2018Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000

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