$CMPX
Compass Therapeutics, Inc.

2020 Q3 Form 10-Q Financial Statement

#000156459020039951 Filed on August 13, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.291M $2.085M $3.280M
YoY Change 120.46% -36.43%
% of Gross Profit
Research & Development $3.670M $2.985M $5.389M
YoY Change -38.63% -44.61%
% of Gross Profit
Depreciation & Amortization $400.0K $400.0K $500.0K
YoY Change -20.0% -20.0%
% of Gross Profit
Operating Expenses $8.961M $5.070M $8.673M
YoY Change 6.93% -41.54%
Operating Profit -$8.961M -$5.070M -$8.673M
YoY Change -41.54%
Interest Expense $212.0K $242.0K $314.0K
YoY Change -251.43% -22.93%
% of Operating Profit
Other Income/Expense, Net -$189.0K -$471.0K -$110.0K
YoY Change 328.18%
Pretax Income -$9.150M -$5.541M -$8.783M
YoY Change 7.27% -36.91%
Income Tax $0.00 $16.00K $26.00K
% Of Pretax Income
Net Earnings -$9.150M -$5.557M -$8.809M
YoY Change 7.02% -36.92%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$179.6K -$106.6K -$0.17
COMMON SHARES
Basic Shares Outstanding 52.15M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.52M $65.37M
YoY Change
Cash & Equivalents $55.78M $65.37M $38.07M
Short-Term Investments
Other Short-Term Assets $2.314M $1.917M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $57.83M $67.29M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $2.418M $2.829M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $440.0K $69.00K
YoY Change
Total Long-Term Assets $2.858M $3.161M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $57.83M $67.29M
Total Long-Term Assets $2.858M $3.161M
Total Assets $60.69M $70.45M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $854.0K $1.581M
YoY Change
Accrued Expenses $1.358M $2.574M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.461M $7.454M
YoY Change
Total Short-Term Liabilities $9.673M $11.61M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $3.730M $5.590M
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.730M $5.590M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.673M $11.61M
Total Long-Term Liabilities $3.730M $5.590M
Total Liabilities $13.40M $17.20M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$133.9M
YoY Change
Common Stock $187.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.29M $53.25M -$103.9M
YoY Change
Total Liabilities & Shareholders Equity $60.69M $70.45M
YoY Change

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$9.150M -$5.557M -$8.809M
YoY Change 7.02% -36.92%
Depreciation, Depletion And Amortization $400.0K $400.0K $500.0K
YoY Change -20.0% -20.0%
Cash From Operating Activities -$7.169M -$13.06M -$19.45M
YoY Change 7.0% -32.85%
INVESTING ACTIVITIES
Capital Expenditures -$7.000K -$16.00K $250.0K
YoY Change -123.33% -106.4%
Acquisitions
YoY Change
Other Investing Activities $0.00 $55.00K $0.00
YoY Change
Cash From Investing Activities -$7.000K $39.00K -$250.0K
YoY Change -76.67% -115.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.677M 53.09M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -7.169M -13.06M -19.45M
Cash From Investing Activities -7.000K 39.00K -250.0K
Cash From Financing Activities -2.677M 53.09M 0.000
Net Change In Cash -9.853M 40.07M -19.70M
YoY Change 46.4% -303.39%
FREE CASH FLOW
Cash From Operating Activities -$7.169M -$13.06M -$19.45M
Capital Expenditures -$7.000K -$16.00K $250.0K
Free Cash Flow -$7.162M -$13.05M -$19.70M
YoY Change 6.42% -33.78%

Facts In Submission

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<p style="margin-top:12pt;margin-bottom:0pt;margin-left:5.33%;text-indent:0%;font-weight:bold;font-family:Arial;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:12pt;margin-left:5.33%;text-indent:0%;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with 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 the reported amounts of expenses during the reporting period.&nbsp;&nbsp;Significant estimates and assumptions reflected in these financial statements include, but are not limited to, the accrual of research and development expenses, the valuation of the embedded derivative, the valuation of common stock and estimates associated with stock-based awards.&nbsp;&nbsp;Estimates are periodically reviewed in light of changes in circumstances, facts and experience.&nbsp;&nbsp;Actual results could differ from those estimates.&nbsp;&nbsp;Changes in estimates are recorded in the period that they become known.</p>
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9654000
CY2020Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6638000
CY2020Q2 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
46000
CY2019Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
49000
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1254965
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
35782706
CY2019Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
494000
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
-556000
us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Settlements
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationSettlements
1050000
CY2020Q2 cmpx Long Term Debt Before Unamortized Discount Noncurrent
LongTermDebtBeforeUnamortizedDiscountNoncurrent
5625000
CY2020Q2 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
0
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9467000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2018-03-20
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5903000
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
400000
CY2019Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
500000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
900000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1100000
CY2020Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
455000
CY2019Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
1759000
CY2020Q2 cmpx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
223000
CY2019Q4 cmpx Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
249000
CY2020Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
957000
CY2019Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
417000
CY2019Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
554000
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
939000
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
143000
CY2020Q2 cmpx Long Term Debt Before Unamortized Discount Current
LongTermDebtBeforeUnamortizedDiscountCurrent
7500000
CY2019Q4 cmpx Long Term Debt Before Unamortized Discount Current
LongTermDebtBeforeUnamortizedDiscountCurrent
5625000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.23
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
183000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
430000
CY2019Q4 cmpx Long Term Debt Before Unamortized Discount Noncurrent
LongTermDebtBeforeUnamortizedDiscountNoncurrent
9375000
CY2020Q2 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
35000
CY2019Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
82000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0036
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0243
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.4045
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7202
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
440000
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
2000000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M9D
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-01-31
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
962000
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
160000
CY2020Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1122000
CY2020Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
500000
CY2019Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
500000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1000000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
900000

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