$CTMX
CytomX Therapeutics, Inc.

2022 Q1 Form 10-Q Financial Statement

#000095017022007806 Filed on May 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $17.14M $15.97M
YoY Change 7.29% -67.8%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.54M $9.230M
YoY Change 14.23% -3.55%
% of Gross Profit
Research & Development $30.56M $22.37M
YoY Change 36.6% -47.74%
% of Gross Profit
Depreciation & Amortization $602.0K $600.0K
YoY Change 0.33% 0.0%
% of Gross Profit
Operating Expenses $41.10M $31.60M
YoY Change 30.08% -39.68%
Operating Profit -$23.97M -$15.63M
YoY Change 53.36%
Interest Expense $68.00K $70.00K
YoY Change -2.86% -93.52%
% of Operating Profit
Other Income/Expense, Net $13.00K $5.000K
YoY Change 160.0% -50.0%
Pretax Income -$23.89M -$15.55M
YoY Change 53.6% 809.36%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$23.89M -$15.55M
YoY Change 53.56% -227.44%
Net Earnings / Revenue -139.38% -97.39%
Basic Earnings Per Share
Diluted Earnings Per Share -$365.2K -$255.0K
COMMON SHARES
Basic Shares Outstanding 65.39M 60.97M
Diluted Shares Outstanding 65.39M 60.97M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $262.5M $393.8M
YoY Change -33.33% 58.85%
Cash & Equivalents $163.5M $329.7M
Short-Term Investments $99.04M $64.10M
Other Short-Term Assets $4.898M $5.500M
YoY Change -10.95% -39.56%
Inventory
Prepaid Expenses
Receivables $1.016M $800.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $268.4M $400.0M
YoY Change -32.89% -0.02%
LONG-TERM ASSETS
Property, Plant & Equipment $6.093M $28.90M
YoY Change -78.92% -9.97%
Goodwill $949.0K
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $902.0K $3.200M
YoY Change -71.81% 132.05%
Total Long-Term Assets $28.38M $34.20M
YoY Change -17.01% -6.46%
TOTAL ASSETS
Total Short-Term Assets $268.4M $400.0M
Total Long-Term Assets $28.38M $34.20M
Total Assets $296.8M $434.2M
YoY Change -31.64% -0.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.721M $2.600M
YoY Change -33.81% -31.25%
Accrued Expenses $31.03M $18.83M
YoY Change 64.79% -33.58%
Deferred Revenue $70.01M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $102.8M $98.00M
YoY Change 4.86% -7.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $125.9M $190.1M
YoY Change -33.79% -27.14%
Total Long-Term Liabilities $125.9M $190.1M
YoY Change -33.79% -27.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $102.8M $98.00M
Total Long-Term Liabilities $125.9M $190.1M
Total Liabilities $228.6M $288.1M
YoY Change -20.65% -21.47%
SHAREHOLDERS EQUITY
Retained Earnings -$557.6M -$465.7M
YoY Change 19.74%
Common Stock $1.000K $1.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $68.19M $146.0M
YoY Change
Total Liabilities & Shareholders Equity $296.8M $434.2M
YoY Change -31.63% -0.58%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$23.89M -$15.55M
YoY Change 53.56% -227.44%
Depreciation, Depletion And Amortization $602.0K $600.0K
YoY Change 0.33% 0.0%
Cash From Operating Activities -$41.31M -$29.94M
YoY Change 37.99% -39.8%
INVESTING ACTIVITIES
Capital Expenditures $736.0K $982.0K
YoY Change -25.05% -6.39%
Acquisitions
YoY Change
Other Investing Activities $0.00 $60.00M
YoY Change -100.0% 1614.29%
Cash From Investing Activities -$736.0K $59.01M
YoY Change -101.25% 2317.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $107.7M
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.000K 108.7M
YoY Change -99.99% 4941.03%
NET CHANGE
Cash From Operating Activities -41.31M -29.94M
Cash From Investing Activities -736.0K 59.01M
Cash From Financing Activities 7.000K 108.7M
Net Change In Cash -42.04M 137.8M
YoY Change -130.51% -405.29%
FREE CASH FLOW
Cash From Operating Activities -$41.31M -$29.94M
Capital Expenditures $736.0K $982.0K
Free Cash Flow -$42.05M -$30.92M
YoY Change 35.98% -39.11%

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NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1. Description of the Business</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">CytomX Therapeutics, Inc. (the “Company”) is a clinical-stage, oncology-focused biopharmaceutical company dedicated to destroying cancer differently. The Company aims to build a commercial enterprise to maximize its impact on the treatment of cancer. The Company is advancing potential first-in-class and best-in-class antibody-based therapeutics created using its Probody® therapeutic technology platform that could meaningfully improve outcomes for cancer patients. Its proprietary and unique Probody technology platform is designed to enable “conditional activation” of antibody-based drugs in the tumor microenvironment while minimizing drug activity in healthy tissues and in circulation. The Company is located in South San Francisco, California and was incorporated in the state of Delaware in September 2010.</span></p>
CY2022Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
917000
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
917000
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.</span></p>
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
163488000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
205530000
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
329666000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
191859000
CY2021Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
917000
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
917000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
164405000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
206447000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
330583000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
192776000
CY2022Q1 ctmx Cash Cash Equivalents And Short Term Investments Amortized Cost Basis
CashCashEquivalentsAndShortTermInvestmentsAmortizedCostBasis
226609000
CY2022Q1 ctmx Cash Cash Equivalents And Short Term Investments Accumulated Gross Unrealized Loss Before Tax
CashCashEquivalentsAndShortTermInvestmentsAccumulatedGrossUnrealizedLossBeforeTax
-919000
CY2022Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
225690000
CY2021Q4 ctmx Cash Cash Equivalents And Investments Amortized Cost Basis
CashCashEquivalentsAndInvestmentsAmortizedCostBasis
266591000
CY2021Q4 ctmx Cash Cash Equivalents And Short Term Investments Accumulated Gross Unrealized Loss Before Tax
CashCashEquivalentsAndShortTermInvestmentsAccumulatedGrossUnrealizedLossBeforeTax
-242000
CY2021Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
266349000
CY2022Q1 ctmx Debt Securities Available For Sale Maturity Period
DebtSecuritiesAvailableForSaleMaturityPeriod
P12M
CY2022Q1 ctmx Accrued Research And Clinical Current
AccruedResearchAndClinicalCurrent
18307000
CY2021Q4 ctmx Accrued Research And Clinical Current
AccruedResearchAndClinicalCurrent
18861000
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5824000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9576000
CY2022Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2228000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1468000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3730000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3618000
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
943000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
713000
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
31032000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
34236000
CY2022Q1 us-gaap Revenues
Revenues
17136000
CY2021Q1 us-gaap Revenues
Revenues
15971000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
194922000
CY2022Q1 ctmx Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
0
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
16121000
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
178801000
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
178800000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12192216
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.42
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2556118
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.09
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
5597
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.36
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
432428
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
9.79
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14310309
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.46
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3370000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3034000
CY2020Q1 ctmx Loss Contingency Answer Affirmative Defenses And Counterclaims Filing Date
LossContingencyAnswerAffirmativeDefensesAndCounterclaimsFilingDate
2020-05-26
CY2020Q1 ctmx Loss Contingency Answer And Counterclaims By Plaintiff Filing Date
LossContingencyAnswerAndCounterclaimsByPlaintiffFilingDate
2020-06-05

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ctmx-20220331.htm Edgar Link pending
ctmx-20220331.xsd Edgar Link pending
ctmx-20220331_cal.xml Edgar Link unprocessable
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