$COGT
Cogent Biosciences, Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022024685 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.003M $6.885M $5.126M
YoY Change 36.62% 37.12% -4.19%
% of Gross Profit
Research & Development $36.74M $29.94M $20.51M
YoY Change 79.11% 102.3% 235.74%
% of Gross Profit
Depreciation & Amortization $420.0K $256.0K $68.00K
YoY Change 517.65% 433.33% 240.0%
% of Gross Profit
Operating Expenses $43.75M $29.94M $25.64M
YoY Change 70.61% 51.05% 123.73%
Operating Profit -$36.82M
YoY Change 85.79%
Interest Expense $2.110M $1.500M $107.0K
YoY Change 1871.96% 1204.35% 52.86%
% of Operating Profit
Other Income/Expense, Net $2.017M $1.759M $621.0K
YoY Change 224.8% 139.32% 3005.0%
Pretax Income -$39.62M -$35.06M -$24.91M
YoY Change 59.03% 83.72% 119.68%
Income Tax
% Of Pretax Income
Net Earnings -$39.62M -$35.06M -$24.91M
YoY Change 59.03% 83.72% 119.68%
Net Earnings / Revenue
Basic Earnings Per Share -$0.50
Diluted Earnings Per Share -$0.56 -$0.50 -$597.4K
COMMON SHARES
Basic Shares Outstanding 69.89M 65.76M
Diluted Shares Outstanding 69.58M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $259.3M $289.1M $219.7M
YoY Change 18.02% 42.49% -9.3%
Cash & Equivalents $139.9M $140.6M $219.7M
Short-Term Investments $119.4M $148.5M $0.00
Other Short-Term Assets $5.690M $7.323M $2.949M
YoY Change 92.95% 58.64% 9.22%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $265.0M $296.4M $222.6M
YoY Change 19.01% 42.85% -9.1%
LONG-TERM ASSETS
Property, Plant & Equipment $7.783M $6.543M $1.706M
YoY Change 356.21% 42.55% 1173.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.745M $4.768M $3.727M
YoY Change 27.31% 44.88% 186.69%
Total Long-Term Assets $35.84M $35.14M $9.459M
YoY Change 278.94% 345.92% 57.54%
TOTAL ASSETS
Total Short-Term Assets $265.0M $296.4M $222.6M
Total Long-Term Assets $35.84M $35.14M $9.459M
Total Assets $300.8M $331.6M $232.1M
YoY Change 29.61% 53.94% -7.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.842M $4.093M $3.483M
YoY Change 67.73% -5.89% 375.82%
Accrued Expenses $18.90M $15.20M $10.30M
YoY Change 83.54% 67.5% 77.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.85M $23.55M $17.08M
YoY Change 57.22% 40.95% 30.42%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $18.23M $18.07M $831.0K
YoY Change 2093.26% 1156.4% -74.03%
Total Long-Term Liabilities $18.23M $18.07M $831.0K
YoY Change 2093.26% 1156.4% -74.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.85M $23.55M $17.08M
Total Long-Term Liabilities $18.23M $18.07M $831.0K
Total Liabilities $45.08M $41.62M $17.91M
YoY Change 151.7% 129.34% 10.21%
SHAREHOLDERS EQUITY
Retained Earnings -$411.2M -$371.6M -$271.0M
YoY Change 51.75% 50.99% 36.37%
Common Stock $601.2M $595.9M $399.8M
YoY Change 50.4% 23.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $255.7M $289.9M $214.2M
YoY Change
Total Liabilities & Shareholders Equity $300.8M $331.6M $232.1M
YoY Change 29.61% 53.94% -7.5%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income -$39.62M -$35.06M -$24.91M
YoY Change 59.03% 83.72% 119.68%
Depreciation, Depletion And Amortization $420.0K $256.0K $68.00K
YoY Change 517.65% 433.33% 240.0%
Cash From Operating Activities -$29.41M -$34.44M -$20.78M
YoY Change 41.54% 144.1% 121.74%
INVESTING ACTIVITIES
Capital Expenditures $1.967M -$3.311M -$433.0K
YoY Change -554.27% 184.69%
Acquisitions
YoY Change
Other Investing Activities $30.38M -$148.2M $0.00
YoY Change
Cash From Investing Activities $28.41M -$151.5M -$433.0K
YoY Change -6661.43% 12930.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 315.0K 990.0K 38.01M
YoY Change -99.17% 1700.0% -68.88%
NET CHANGE
Cash From Operating Activities -29.41M -34.44M -20.78M
Cash From Investing Activities 28.41M -151.5M -433.0K
Cash From Financing Activities 315.0K 990.0K 38.01M
Net Change In Cash -682.0K -185.0M 16.80M
YoY Change -104.06% 1115.71% -85.11%
FREE CASH FLOW
Cash From Operating Activities -$29.41M -$34.44M -$20.78M
Capital Expenditures $1.967M -$3.311M -$433.0K
Free Cash Flow -$31.38M -$31.13M -$20.34M
YoY Change 54.22% 140.45% 117.12%

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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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us-gaap Use Of Estimates
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<p style="text-indent:4.533%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(34,34,34,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:8.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(34,34,34,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses, the valuation of the CVR liability and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Actual results may differ from those estimates or assumptions.</span></p>
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SharePrice
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1536000
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CommonStockSharesAuthorized
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CommonStockParOrStatedValuePerShare
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PreferredStockSharesAuthorized
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CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
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CY2022Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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CY2022Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
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AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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AllocatedShareBasedCompensationExpense
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2023-04
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OperatingLeaseCost
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VariableLeaseCost
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SubleaseIncome
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cogt Lease Cost Net
LeaseCostNet
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OperatingLeasePayments
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CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2022Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2022Q3 cogt Lessee Operating Lease Liability Payments Due After Year Four
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
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CY2022Q3 cogt Lessee Operating Lease Liability Tenant Improvement Allowance Receivable
LesseeOperatingLeaseLiabilityTenantImprovementAllowanceReceivable
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CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
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NetIncomeLoss
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NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39848943
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33978788
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
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us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
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CY2022Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
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us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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CY2021Q3 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
300000

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