$COGT
Cogent Biosciences, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024091229 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.80M $10.09M
YoY Change 24.87% 22.88%
% of Gross Profit
Research & Development $63.61M $54.29M
YoY Change 26.91% 39.68%
% of Gross Profit
Depreciation & Amortization $620.0K $606.0K
YoY Change 6.9% 7.83%
% of Gross Profit
Operating Expenses $63.61M $54.29M
YoY Change 26.91% 39.68%
Operating Profit -$75.41M -$64.39M
YoY Change 26.58% 36.75%
Interest Expense $4.779M $5.393M
YoY Change 13.79% 96.75%
% of Operating Profit
Other Income/Expense, Net $4.780M $5.437M
YoY Change 13.86% 80.69%
Pretax Income -$70.63M -$58.95M
YoY Change 27.54% 33.75%
Income Tax
% Of Pretax Income
Net Earnings -$70.63M -$58.95M
YoY Change 27.54% 33.75%
Net Earnings / Revenue
Basic Earnings Per Share -$0.64 -$0.59
Diluted Earnings Per Share -$0.64 -$0.59
COMMON SHARES
Basic Shares Outstanding 109.5M 95.61M
Diluted Shares Outstanding 110.2M 99.24M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $335.5M $363.2M
YoY Change 20.24% 10.27%
Cash & Equivalents $97.05M $88.22M
Short-Term Investments $238.5M $275.0M
Other Short-Term Assets $6.009M $6.755M
YoY Change -12.91% 31.93%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $341.5M $370.0M
YoY Change 19.44% 10.6%
LONG-TERM ASSETS
Property, Plant & Equipment $7.017M $7.357M
YoY Change -18.81% -19.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $10.03M $26.69M
YoY Change -70.33% 24.06%
Other Assets $4.862M $4.862M
YoY Change 0.0% 1.82%
Total Long-Term Assets $42.49M $59.96M
YoY Change -38.86% 3.65%
TOTAL ASSETS
Total Short-Term Assets $341.5M $370.0M
Total Long-Term Assets $42.49M $59.96M
Total Assets $384.0M $429.9M
YoY Change 8.04% 9.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.06M $8.975M
YoY Change 52.62% 25.33%
Accrued Expenses $37.68M $30.78M
YoY Change 54.43% 70.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $53.05M $40.00M
YoY Change 52.79% 55.31%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $16.31M $16.71M
YoY Change -8.38% -8.11%
Total Long-Term Liabilities $16.31M $16.71M
YoY Change -8.38% -8.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.05M $40.00M
Total Long-Term Liabilities $16.31M $16.71M
Total Liabilities $69.36M $56.71M
YoY Change 31.99% 29.06%
SHAREHOLDERS EQUITY
Retained Earnings -$791.6M -$720.9M
YoY Change 44.11% 45.96%
Common Stock $994.7M $980.2M
YoY Change 25.55% 25.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $314.7M $373.2M
YoY Change
Total Liabilities & Shareholders Equity $384.0M $429.9M
YoY Change 8.04% 9.57%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$70.63M -$58.95M
YoY Change 27.54% 33.75%
Depreciation, Depletion And Amortization $620.0K $606.0K
YoY Change 6.9% 7.83%
Cash From Operating Activities -$51.98M -$42.70M
YoY Change 36.91% 33.17%
INVESTING ACTIVITIES
Capital Expenditures $280.0K $148.0K
YoY Change 133.33% -88.23%
Acquisitions
YoY Change
Other Investing Activities $60.47M -$84.48M
YoY Change -166.88% 10.57%
Cash From Investing Activities $60.19M -$84.63M
YoY Change -166.48% 8.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 624.0K -256.0K
YoY Change -37.6% -100.16%
NET CHANGE
Cash From Operating Activities -51.98M -42.70M
Cash From Investing Activities 60.19M -84.63M
Cash From Financing Activities 624.0K -256.0K
Net Change In Cash 8.826M -127.6M
YoY Change -106.92% -343.64%
FREE CASH FLOW
Cash From Operating Activities -$51.98M -$42.70M
Capital Expenditures $280.0K $148.0K
Free Cash Flow -$52.26M -$42.85M
YoY Change 37.21% 28.59%

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<p style="text-indent:4.533%;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#222222;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:8pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#222222;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;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 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 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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us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
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