$COGT
Cogent Biosciences, Inc.

2019 Q1 Form 10-Q Financial Statement

#000119312519144768 Filed on May 13, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $3.053M $2.220M
YoY Change 37.52% 21.51%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.490M $1.060M
YoY Change 134.91% 12.77%
% of Gross Profit
Research & Development $12.40M $8.142M
YoY Change 52.33% 17.12%
% of Gross Profit
Depreciation & Amortization $330.0K $310.0K
YoY Change 6.45% 10.71%
% of Gross Profit
Operating Expenses $12.40M $8.142M
YoY Change 52.33% 17.12%
Operating Profit -$11.84M -$6.986M
YoY Change 69.5% 15.11%
Interest Expense $150.0K $80.00K
YoY Change 87.5% -11.11%
% of Operating Profit
Other Income/Expense, Net $150.0K $251.0K
YoY Change -40.24% 93.08%
Pretax Income -$11.69M -$6.740M
YoY Change 73.44% 13.47%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$11.69M -$6.735M
YoY Change 73.59% 13.4%
Net Earnings / Revenue -382.93% -303.38%
Basic Earnings Per Share -$0.39 -$0.66
Diluted Earnings Per Share -$0.39 -$0.66
COMMON SHARES
Basic Shares Outstanding 30.08B 10.20B
Diluted Shares Outstanding 30.08B 10.20B

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $67.10M $32.40M
YoY Change 107.1%
Cash & Equivalents $59.11M $25.70M
Short-Term Investments $8.000M $6.700M
Other Short-Term Assets $800.0K $1.300M
YoY Change -38.46%
Inventory
Prepaid Expenses
Receivables $2.040M $1.601M
Other Receivables $0.00 $0.00
Total Short-Term Assets $69.90M $35.23M
YoY Change 98.43%
LONG-TERM ASSETS
Property, Plant & Equipment $2.963M $3.902M
YoY Change -24.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $846.0K $419.0K
YoY Change 101.91%
Total Long-Term Assets $11.38M $8.188M
YoY Change 38.98%
TOTAL ASSETS
Total Short-Term Assets $69.90M $35.23M
Total Long-Term Assets $11.38M $8.188M
Total Assets $81.28M $43.42M
YoY Change 87.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.836M $3.083M
YoY Change -40.45%
Accrued Expenses $6.200M $2.100M
YoY Change 195.24%
Deferred Revenue $16.94M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.35M $22.96M
YoY Change 14.74%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $5.600M $4.600M
YoY Change 21.74%
Total Long-Term Liabilities $5.600M $4.600M
YoY Change 21.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.35M $22.96M
Total Long-Term Liabilities $5.600M $4.600M
Total Liabilities $31.99M $27.52M
YoY Change 16.26%
SHAREHOLDERS EQUITY
Retained Earnings -$103.8M -$64.26M
YoY Change 61.45%
Common Stock $153.0M $3.000M
YoY Change 5001.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $49.29M -$61.27M
YoY Change
Total Liabilities & Shareholders Equity $81.28M $43.42M
YoY Change 87.22%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income -$11.69M -$6.735M
YoY Change 73.59% 13.4%
Depreciation, Depletion And Amortization $330.0K $310.0K
YoY Change 6.45% 10.71%
Cash From Operating Activities -$11.52M -$7.981M
YoY Change 44.32% 9.78%
INVESTING ACTIVITIES
Capital Expenditures $42.00K $75.00K
YoY Change -44.0% -76.56%
Acquisitions
YoY Change
Other Investing Activities $14.99M $6.000M
YoY Change 149.83% -1300.0%
Cash From Investing Activities $14.95M $5.925M
YoY Change 152.32% -822.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $11.00K $28.00K
YoY Change -60.71%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 11.00K -535.0K
YoY Change -102.06%
NET CHANGE
Cash From Operating Activities -11.52M -7.981M
Cash From Investing Activities 14.95M 5.925M
Cash From Financing Activities 11.00K -535.0K
Net Change In Cash 3.443M -2.591M
YoY Change -232.88% -67.97%
FREE CASH FLOW
Cash From Operating Activities -$11.52M -$7.981M
Capital Expenditures $42.00K $75.00K
Free Cash Flow -$11.56M -$8.056M
YoY Change 43.5% 6.14%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <i>Concentrations of Credit Risk and of Significant Suppliers</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains most of its cash and cash equivalents at three accredited financial institutions. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 4%"> The Company is dependent on third-party vendors for its product candidates. In particular, the Company relies, and expects to continue to rely, on a small number of vendors to manufacture supplies and process its product candidates for its development programs. These programs could be adversely affected by a significant interruption in the manufacturing process.</p> </div>
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DepreciationAndAmortization
330000
CY2019Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.39
CY2019Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001622229
CY2019Q1 dei Entity Registrant Name
EntityRegistrantName
UNUM THERAPEUTICS INC.
CY2019Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2019Q1 dei Document Period End Date
DocumentPeriodEndDate
2019-03-31
CY2019Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2019Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
true
CY2019Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2491000
CY2019Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
317000
CY2019Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
696000
CY2019Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
17000
CY2019Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-1014000
CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
372000
CY2019Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
427000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-11691000
CY2019Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
150000
CY2019Q1 us-gaap Lease Cost
LeaseCost
748000
CY2019Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2023-04-30
CY2019Q1 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The Company's option to extend for an additional five-year term.
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-11691000
CY2019Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
150000
CY2019Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
14950000
CY2019Q1 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
-1000
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11518000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-11691000
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
10000
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
443000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-11841000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
766000
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
10000
CY2019Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
0
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12403000
CY2019Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
42000
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
11000
CY2019Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
14992000
CY2019Q1 dei Trading Symbol
TradingSymbol
UMRX
CY2019Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3053000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
726000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
11000
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
305000
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 4%; MARGIN-TOP: 18pt"> <i>Use of Estimates</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with GAAP requires management to make estimates, assumptions and judgments 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, assumptions and judgments reflected in these condensed consolidated financial statements include, but are not limited to, revenue, the accrual of research and development expenses and the valuation of stock-based awards. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company&#x2019;s estimates.</p> </div>
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
30083006 shares
CY2019Q1 umrx Period For Operating Expenses And Captial Expenditure Requirements
PeriodForOperatingExpensesAndCaptialExpenditureRequirements
P12M
CY2019Q1 umrx Increase Decrease In Operating Leases
IncreaseDecreaseInOperatingLeases
-352000
CY2019Q1 umrx Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
-334000

Files In Submission

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0001193125-19-144768-index-headers.html Edgar Link pending
0001193125-19-144768-index.html Edgar Link pending
0001193125-19-144768.txt Edgar Link pending
0001193125-19-144768-xbrl.zip Edgar Link pending
d704715d10q.htm Edgar Link pending
d704715dex311.htm Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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umrx-20190331.xml Edgar Link completed
umrx-20190331.xsd Edgar Link pending
umrx-20190331_cal.xml Edgar Link unprocessable
umrx-20190331_def.xml Edgar Link unprocessable
umrx-20190331_lab.xml Edgar Link unprocessable
umrx-20190331_pre.xml Edgar Link unprocessable