2022 Q1 Form 10-Q Financial Statement

#000111748022000020 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $15.00K $1.435M
YoY Change -98.95% 15.63%
Cost Of Revenue $114.0K $0.00
YoY Change
Gross Profit -$99.00K $1.435M
YoY Change -106.9%
Gross Profit Margin -660.0% 100.0%
Selling, General & Admin $5.632M $4.140M
YoY Change 36.04% 28.97%
% of Gross Profit 288.5%
Research & Development $19.04M $11.86M
YoY Change 60.51% 32.55%
% of Gross Profit 826.62%
Depreciation & Amortization $24.00K $71.00K
YoY Change -66.2% -36.61%
% of Gross Profit 4.95%
Operating Expenses $24.67M $98.89M
YoY Change -75.05% 713.63%
Operating Profit -$24.77M -$97.45M
YoY Change -74.58% 793.0%
Interest Expense $4.000K $40.00K
YoY Change -90.0% -91.84%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$24.77M -$97.42M
YoY Change -74.58% 834.93%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$24.77M -$97.42M
YoY Change -74.58% 834.88%
Net Earnings / Revenue -165113.33% -6788.5%
Basic Earnings Per Share -$0.28 -$1.21
Diluted Earnings Per Share -$0.28 -$1.21
COMMON SHARES
Basic Shares Outstanding 87.09M shares 80.20M shares
Diluted Shares Outstanding 87.09M shares 80.20M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.38M $145.0M
YoY Change -63.18% 40.76%
Cash & Equivalents $31.96M $32.08M
Short-Term Investments $21.42M $112.9M
Other Short-Term Assets $5.766M $2.700M
YoY Change 113.56% 3.85%
Inventory $3.400M
Prepaid Expenses
Receivables $482.0K
Other Receivables $0.00
Total Short-Term Assets $62.55M $148.1M
YoY Change -57.78% 38.78%
LONG-TERM ASSETS
Property, Plant & Equipment $229.0K $218.0K
YoY Change 5.05% -49.89%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $7.500M
YoY Change -100.0%
Other Assets $439.0K $29.00K
YoY Change 1413.79% 81.25%
Total Long-Term Assets $2.966M $10.51M
YoY Change -71.78% 921.57%
TOTAL ASSETS
Total Short-Term Assets $62.55M $148.1M
Total Long-Term Assets $2.966M $10.51M
Total Assets $65.52M $158.6M
YoY Change -58.7% 47.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.494M $2.181M
YoY Change 60.2% 94.04%
Accrued Expenses $11.72M $6.067M
YoY Change 93.14% 9.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $14.00M
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.21M $22.25M
YoY Change -31.63% 233.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.506M $2.800M
YoY Change -10.5%
Total Long-Term Liabilities $2.506M $2.800M
YoY Change -10.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.21M $22.25M
Total Long-Term Liabilities $2.506M $2.800M
Total Liabilities $17.72M $25.00M
YoY Change -29.13% 271.58%
SHAREHOLDERS EQUITY
Retained Earnings -$910.4M -$809.8M
YoY Change 12.42% 19.21%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.80M $133.6M
YoY Change
Total Liabilities & Shareholders Equity $65.52M $158.6M
YoY Change -58.7% 47.21%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$24.77M -$97.42M
YoY Change -74.58% 834.88%
Depreciation, Depletion And Amortization $24.00K $71.00K
YoY Change -66.2% -36.61%
Cash From Operating Activities -$23.45M -$37.90M
YoY Change -38.13% 250.24%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $75.00K
YoY Change -100.0% 971.43%
Acquisitions
YoY Change
Other Investing Activities $53.47M -$88.64M
YoY Change -160.32% -585.7%
Cash From Investing Activities $53.47M -$88.72M
YoY Change -160.27% -586.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $107.8M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$13.46M $111.7M
YoY Change -112.05% 48678.6%
NET CHANGE
Cash From Operating Activities -$23.45M -$37.90M
Cash From Investing Activities $53.47M -$88.72M
Cash From Financing Activities -$13.46M $111.7M
Net Change In Cash $16.56M -$14.91M
YoY Change -211.07% -294.84%
FREE CASH FLOW
Cash From Operating Activities -$23.45M -$37.90M
Capital Expenditures $0.00 $75.00K
Free Cash Flow -$23.45M -$37.97M
YoY Change -38.25% 250.71%

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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
53467000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-88716000 USD
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
102000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3530000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
556000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
330000 USD
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
107843000 USD
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
118000 USD
CY2021Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0 USD
CY2022Q1 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
-14000000 USD
CY2021Q1 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-13460000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
111703000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
16560000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14909000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15397000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46989000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31957000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32080000 USD
CY2021Q4 cmrx Accrued Development Liabilities
AccruedDevelopmentLiabilities
4642000 USD
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
2600000 USD
CY2022Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
800000 USD
CY2022Q1 us-gaap Inventory Write Down
InventoryWriteDown
100000 USD
CY2022Q1 cmrx Accrued Development Liabilities
AccruedDevelopmentLiabilities
6155000 USD
CY2022Q1 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
3068000 USD
CY2021Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
5491000 USD
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2495000 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2975000 USD
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11718000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13108000 USD
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. In addition to estimates discussed in other sections of this Quarterly Report on Form 10-Q, the most significant estimates in the Company’s consolidated financial statements relate to the valuation of stock options and the valuation allowance for deferred tax assets resulting from net operating losses. These estimates are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.</span></div>
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
21494000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
73000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
21421000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
75013000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
4000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
25000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
74992000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
21421000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
73000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
21421000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
73000 USD
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
10 security
CY2022Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
CY2022Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
10 security
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
46892000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
25000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
46892000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
25000 USD
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
18 security
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
18 security
CY2022Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
21421000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
21421000 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M2D
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000 USD
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2298000 USD
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
524000 USD
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2256000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2780000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
539000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
736000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
759000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
781000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
467000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3282000 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
502000 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2780000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
637000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
736000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
759000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
781000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
467000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3380000 USD
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
556000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2824000 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
98000 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
133000 USD
CY2022Q1 cmrx Lessee Operating Sublease Area Of Sublease Property
LesseeOperatingSubleaseAreaOfSubleaseProperty
3537 sqft
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
12000 USD
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3708000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2584000 USD
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2022Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD

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