2020 Q2 Form 10-Q Financial Statement

#000111748020000028 Filed on August 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $1.402M $1.438M
YoY Change -2.5% 20.54%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.110M $4.400M
YoY Change -29.32% -33.83%
% of Gross Profit
Research & Development $8.578M $13.83M
YoY Change -37.96% 0.84%
% of Gross Profit
Depreciation & Amortization $110.0K $160.0K
YoY Change -31.25% -33.33%
% of Gross Profit
Operating Expenses $11.69M $20.14M
YoY Change -41.96% -1.1%
Operating Profit -$10.29M -$18.70M
YoY Change -45.0% -2.44%
Interest Expense $270.0K $1.070M
YoY Change -74.77% 69.84%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$10.02M -$17.65M
YoY Change -43.23% -5.16%
Income Tax
% Of Pretax Income
Net Earnings -$10.02M -$17.65M
YoY Change -43.25% -5.17%
Net Earnings / Revenue -714.41% -1227.4%
Basic Earnings Per Share -$0.16
Diluted Earnings Per Share -$0.16 -$345.2K
COMMON SHARES
Basic Shares Outstanding 62.04M shares 51.07M shares
Diluted Shares Outstanding 62.04M shares

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $96.00M $158.4M
YoY Change -39.39% -9.38%
Cash & Equivalents $53.50M $21.64M
Short-Term Investments $42.40M $136.8M
Other Short-Term Assets $2.600M $2.200M
YoY Change 18.18% -33.33%
Inventory
Prepaid Expenses
Receivables $367.0K $774.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $98.90M $161.4M
YoY Change -38.72% -9.5%
LONG-TERM ASSETS
Property, Plant & Equipment $338.0K $1.054M
YoY Change -67.93% -29.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.00K $45.00K
YoY Change -42.22% -13.46%
Total Long-Term Assets $2.778M $2.068M
YoY Change 34.33% -90.88%
TOTAL ASSETS
Total Short-Term Assets $98.90M $161.4M
Total Long-Term Assets $2.778M $2.068M
Total Assets $101.7M $163.4M
YoY Change -37.79% -18.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.425M $1.832M
YoY Change -22.22% 28.47%
Accrued Expenses $4.811M $11.95M
YoY Change -59.75% 49.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.236M $13.79M
YoY Change -54.77% 46.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.300M $500.0K
YoY Change 360.0% 150.0%
Total Long-Term Liabilities $2.300M $500.0K
YoY Change 360.0% 150.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.236M $13.79M
Total Long-Term Liabilities $2.300M $500.0K
Total Liabilities $8.538M $14.32M
YoY Change -40.39% 49.4%
SHAREHOLDERS EQUITY
Retained Earnings -$689.3M -$591.6M
YoY Change 16.51% 12.64%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $93.14M $149.1M
YoY Change
Total Liabilities & Shareholders Equity $101.7M $163.4M
YoY Change -37.79% -18.68%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$10.02M -$17.65M
YoY Change -43.25% -5.17%
Depreciation, Depletion And Amortization $110.0K $160.0K
YoY Change -31.25% -33.33%
Cash From Operating Activities -$7.870M -$13.82M
YoY Change -43.05% -1.57%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$50.00K
YoY Change -100.0% -16.67%
Acquisitions
YoY Change
Other Investing Activities $36.25M $15.79M
YoY Change 129.58% -18.48%
Cash From Investing Activities $36.25M $15.74M
YoY Change 130.3% -18.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 580.0K 20.00K
YoY Change 2800.0% -60.0%
NET CHANGE
Cash From Operating Activities -7.870M -13.82M
Cash From Investing Activities 36.25M 15.74M
Cash From Financing Activities 580.0K 20.00K
Net Change In Cash 28.96M 1.940M
YoY Change 1392.78% -63.6%
FREE CASH FLOW
Cash From Operating Activities -$7.870M -$13.82M
Capital Expenditures $0.00 -$50.00K
Free Cash Flow -$7.870M -$13.77M
YoY Change -42.85% -1.5%

Facts In Submission

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-59462000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
16901000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
81106000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53501000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21644000 USD
cmrx Numberof Product Candidates
NumberofProductCandidates
2 product_candidate
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Reclassifications</span></div><div style="text-align:justify;"><span><br/></span></div><div style="text-align:justify;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Certain prior period amounts in the accompanying consolidated financial statements have been reclassified to conform to the current year presentation. These reclassifications had no effect on previously reported net income or stockholders' equity (deficit).</span></div>
CY2020Q2 cmrx Accrued Development Liabilities
AccruedDevelopmentLiabilities
1736000 USD
CY2019Q4 cmrx Accrued Development Liabilities
AccruedDevelopmentLiabilities
1868000 USD
CY2020Q2 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
2271000 USD
CY2019Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
3626000 USD
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
804000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1336000 USD
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4811000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6830000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
42319000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
130000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
42449000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
96539000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
50000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
15000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
96574000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
0 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
22798000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
15000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
22798000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
15000 USD
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
9 security
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
9 security
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
0 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
42449000 USD
CY2020Q2 cmrx Debt Securities Available For Sale Fair Value Matuirty Allocated And Single Maturity Date Year Two
DebtSecuritiesAvailableForSaleFairValueMatuirtyAllocatedAndSingleMaturityDateYearTwo
0 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
42449000 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M1D
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
173000 USD
CY2019Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
182000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
366000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
376000 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0828
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2414000 USD
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
189000 USD
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2302000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2491000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
362000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
191000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
546000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
562000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
580000 USD
CY2020Q2 cmrx Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
955000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3196000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
705000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
2491000 USD
CY2020Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P65M
cmrx Lessee Operating Lease Rent Abatement Term
LesseeOperatingLeaseRentAbatementTerm
P5M
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
719000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
182000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
901000 USD
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
66000 USD
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
835000 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
180000 USD
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
194000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
357000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
386000 USD
CY2020Q2 cmrx Lessee Operating Sublease Areaof Sublease Property
LesseeOperatingSubleaseAreaofSubleaseProperty
3537 sqft
CY2020Q2 us-gaap Sublease Income
SubleaseIncome
18000 USD
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
18000 USD
us-gaap Sublease Income
SubleaseIncome
35000 USD
us-gaap Sublease Income
SubleaseIncome
35000 USD
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
41000 USD
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
14000 USD
CY2020Q2 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
55000 USD
CY2020Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
0 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
163000 shares
CY2019Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
201000 shares
us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
369000 shares
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1391000 USD
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2367000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2717000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6440000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2020Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2019Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
43 employee
CY2019 us-gaap Severance Costs1
SeveranceCosts1
3300000 USD
CY2019 us-gaap Business Exit Costs1
BusinessExitCosts1
2000000.0 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
320000 USD
CY2019Q4 us-gaap Restructuring Reserve
RestructuringReserve
320000 USD
CY2019 us-gaap Other Restructuring Costs
OtherRestructuringCosts
300000 USD
CY2019 cmrx Fixed Asset Disposals
FixedAssetDisposals
300000 USD
CY2019 us-gaap Business Exit Costs1
BusinessExitCosts1
2000000.0 USD
us-gaap Severance Costs1
SeveranceCosts1
3346000 USD
us-gaap Business Exit Costs1
BusinessExitCosts1
2021000 USD
us-gaap Other Restructuring Costs
OtherRestructuringCosts
339000 USD
cmrx Fixed Asset Disposals
FixedAssetDisposals
250000 USD
us-gaap Restructuring Charges
RestructuringCharges
5956000 USD
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
0 USD
CY2019 cmrx Restructuring Reserve Accruals
RestructuringReserveAccruals
5781000 USD
CY2019 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-336000 USD
CY2019 us-gaap Payments For Restructuring
PaymentsForRestructuring
5125000 USD
CY2020Q1 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-14000 USD
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
218000 USD
CY2020Q1 us-gaap Restructuring Reserve
RestructuringReserve
88000 USD
CY2020Q2 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-5000 USD
CY2020Q2 us-gaap Payments For Restructuring
PaymentsForRestructuring
69000 USD
CY2020Q2 us-gaap Restructuring Reserve
RestructuringReserve
14000 USD
CY2020Q2 cmrx Proceeds From Refund Of Deposits
ProceedsFromRefundOfDeposits
1300000 USD

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