2023 Q2 Form 10-Q Financial Statement

#000111748023000018 Filed on May 04, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $26.00K $283.0K
YoY Change -94.09% 1786.67%
Cost Of Revenue $0.00 $0.00
YoY Change -100.0%
Gross Profit $26.00K $283.0K
YoY Change -94.09% -385.86%
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $4.448M $5.679M
YoY Change -23.84% 0.83%
% of Gross Profit 17107.69% 2006.71%
Research & Development $16.93M $18.82M
YoY Change -6.21% -1.14%
% of Gross Profit 65100.0% 6650.88%
Depreciation & Amortization $23.00K $22.00K
YoY Change -4.17% -8.33%
% of Gross Profit 88.46% 7.77%
Operating Expenses $21.37M $24.50M
YoY Change -10.52% -0.69%
Operating Profit -$21.35M -$24.22M
YoY Change -8.95% -2.23%
Interest Expense $2.772M $2.846M
YoY Change -13300.0% 71050.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$18.58M -$21.37M
YoY Change -20.85% -13.71%
Income Tax
% Of Pretax Income
Net Earnings -$18.58M -$21.37M
YoY Change -20.85% -13.71%
Net Earnings / Revenue -71446.15% -7551.94%
Basic Earnings Per Share -$0.21 -$0.24
Diluted Earnings Per Share -$0.21 -$0.24
COMMON SHARES
Basic Shares Outstanding 88.58M shares 88.27M shares
Diluted Shares Outstanding 88.58M shares 88.29M shares

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $205.8M $214.8M
YoY Change 380.84% 302.32%
Cash & Equivalents $20.10M $15.95M
Short-Term Investments $185.7M $198.8M
Other Short-Term Assets $5.735M $9.330M
YoY Change 48.85% 61.81%
Inventory
Prepaid Expenses
Receivables $26.00K $668.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $211.5M $224.8M
YoY Change 316.62% 259.31%
LONG-TERM ASSETS
Property, Plant & Equipment $1.984M $267.0K
YoY Change 867.8% 16.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $27.26M $31.32M
YoY Change
Other Assets $326.0K $346.0K
YoY Change -18.3% -21.18%
Total Long-Term Assets $29.57M $33.78M
YoY Change 958.65% 1039.01%
TOTAL ASSETS
Total Short-Term Assets $211.5M $224.8M
Total Long-Term Assets $29.57M $33.78M
Total Assets $241.1M $258.5M
YoY Change 350.1% 294.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.823M $2.847M
YoY Change 4.59% -18.52%
Accrued Expenses $13.52M $13.58M
YoY Change -18.97% 15.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.34M $16.43M
YoY Change -34.08% 8.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.632M $1.791M
YoY Change -30.96% -28.53%
Total Long-Term Liabilities $1.632M $1.791M
YoY Change -30.96% -28.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.34M $16.43M
Total Long-Term Liabilities $1.632M $1.791M
Total Liabilities $16.97M $18.22M
YoY Change -33.79% 2.84%
SHAREHOLDERS EQUITY
Retained Earnings -$753.4M -$734.8M
YoY Change -19.32% -19.28%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $224.1M $240.3M
YoY Change
Total Liabilities & Shareholders Equity $241.1M $258.5M
YoY Change 350.1% 294.61%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$18.58M -$21.37M
YoY Change -20.85% -13.71%
Depreciation, Depletion And Amortization $23.00K $22.00K
YoY Change -4.17% -8.33%
Cash From Operating Activities -$14.34M -$22.23M
YoY Change 35.81% -5.21%
INVESTING ACTIVITIES
Capital Expenditures $12.00K $62.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $18.53M $12.20M
YoY Change 176.61% -77.19%
Cash From Investing Activities $18.52M $12.14M
YoY Change 176.43% -77.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -31.00K $199.0K
YoY Change 181.82% -101.48%
NET CHANGE
Cash From Operating Activities -14.34M -$22.23M
Cash From Investing Activities 18.52M $12.14M
Cash From Financing Activities -31.00K $199.0K
Net Change In Cash 4.148M -$9.891M
YoY Change -207.16% -159.73%
FREE CASH FLOW
Cash From Operating Activities -$14.34M -$22.23M
Capital Expenditures $12.00K $62.00K
Free Cash Flow -$14.35M -$22.29M
YoY Change 35.93% -4.95%

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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
199000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-13460000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-9891000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
16560000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
25842000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15397000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15951000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31957000 usd
CY2022Q3 cmrx Employee Retention Credit
EmployeeRetentionCredit
2000000 usd
CY2023Q1 us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
27000 usd
CY2023Q1 cmrx Accrued Development Liabilities
AccruedDevelopmentLiabilities
7936000 usd
CY2022Q4 cmrx Accrued Development Liabilities
AccruedDevelopmentLiabilities
6691000 usd
CY2023Q1 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
3348000 usd
CY2022Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
6438000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2300000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4252000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
13584000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17381000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
47000 usd
CY2023Q1 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>
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q1 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
230354000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
64000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
295000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
230123000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost Excluding Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLoss
240455000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
384000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
240118000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
173832000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
295000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
173832000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
295000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
51 security
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
51 security
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
179254000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
384000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
179254000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
384000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
55 security
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0 security
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
55 security
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
198801000 usd
CY2023Q1 cmrx Debt Securities Available For Sale Fair Value Maturity Allocated And Single Maturity Date Year Two
DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateYearTwo
31322000 usd
CY2023Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
DebtSecuritiesAvailableForSaleExcludingAccruedInterest
230123000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y4M2D
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000 usd
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0789
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
306000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1848000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
590000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1666000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2256000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
555000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
759000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
781000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
467000 usd
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2562000 usd
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
2256000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
736000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
759000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
781000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
467000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2743000 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
351000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2392000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
200000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000 usd
CY2023Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
221000 shares
CY2022Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
134000 shares
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4363000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3708000 usd
CY2022 us-gaap Severance Costs1
SeveranceCosts1
400000 usd
CY2023Q1 us-gaap Severance Costs1
SeveranceCosts1
600000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022 cmrx Contract Close Out Costs
ContractCloseOutCosts
799000 usd
CY2022Q2 cmrx Contract Close Out Liability
ContractCloseOutLiability
4539000 usd
cmrx Contract Close Out Liability Adjustments
ContractCloseOutLiabilityAdjustments
-746000 usd
cmrx Contract Close Out Liability Payments
ContractCloseOutLiabilityPayments
2482000 usd
CY2022Q4 cmrx Contract Close Out Liability
ContractCloseOutLiability
1311000 usd
CY2022Q4 cmrx Contract Close Out Liability
ContractCloseOutLiability
1311000 usd
CY2023Q1 cmrx Contract Close Out Liability Adjustments
ContractCloseOutLiabilityAdjustments
10000 usd
CY2023Q1 cmrx Contract Close Out Liability Payments
ContractCloseOutLiabilityPayments
250000 usd
CY2023Q1 cmrx Contract Close Out Liability
ContractCloseOutLiability
1071000 usd
CY2023Q1 cmrx Contract Close Out Liability Adjustments
ContractCloseOutLiabilityAdjustments
10000 usd
CY2022Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
20 employee
CY2022Q4 us-gaap Severance Costs1
SeveranceCosts1
1900000 usd
CY2022Q4 cmrx Anticipated Severance Cost
AnticipatedSeveranceCost
1000000 usd
CY2022 us-gaap Severance Costs1
SeveranceCosts1
400000 usd
CY2022Q4 us-gaap Severance Costs1
SeveranceCosts1
1854000 usd
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
1442000 usd
CY2023Q1 us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-73000 usd
CY2023Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
641000 usd
CY2023Q1 us-gaap Restructuring Reserve
RestructuringReserve
728000 usd

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