$CTMX
CytomX Therapeutics Inc

2023 Q2 Form 10-Q Financial Statement

#000095017023019654 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $24.72M $23.50M
YoY Change 36.11% 37.13%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.401M $7.977M
YoY Change -37.0% -24.34%
% of Gross Profit
Research & Development $20.67M $21.18M
YoY Change -33.66% -30.71%
% of Gross Profit
Depreciation & Amortization $610.0K $595.0K
YoY Change 0.0% -1.16%
% of Gross Profit
Operating Expenses $28.07M $29.15M
YoY Change -34.57% -29.07%
Operating Profit -$3.348M -$5.653M
YoY Change -86.47% -76.41%
Interest Expense $2.308M $2.327M
YoY Change 780.92% 3322.06%
% of Operating Profit
Other Income/Expense, Net -$47.00K $15.00K
YoY Change -115.88% 15.38%
Pretax Income -$1.087M -$3.311M
YoY Change -95.51% -86.14%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$1.087M -$3.311M
YoY Change -95.51% -86.14%
Net Earnings / Revenue -4.4% -14.09%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.02 -$0.05
COMMON SHARES
Basic Shares Outstanding 66.34M 66.23M
Diluted Shares Outstanding 66.54M 66.25M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $180.9M $204.5M
YoY Change -20.73% -22.1%
Cash & Equivalents $57.54M $56.36M
Short-Term Investments $123.3M $148.1M
Other Short-Term Assets $5.040M $6.685M
YoY Change 40.35% 36.48%
Inventory
Prepaid Expenses
Receivables $1.903M $1.090M
Other Receivables $0.00 $0.00
Total Short-Term Assets $187.8M $212.3M
YoY Change -19.32% -20.92%
LONG-TERM ASSETS
Property, Plant & Equipment $4.499M $4.573M
YoY Change -23.94% -24.95%
Goodwill $949.0K $949.0K
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $91.00K $27.00K
YoY Change -89.83% -97.01%
Total Long-Term Assets $21.38M $22.35M
YoY Change -21.72% -21.24%
TOTAL ASSETS
Total Short-Term Assets $187.8M $212.3M
Total Long-Term Assets $21.38M $22.35M
Total Assets $209.2M $234.6M
YoY Change -19.57% -20.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.029M $2.203M
YoY Change -46.41% 28.01%
Accrued Expenses $20.07M $22.28M
YoY Change -36.76% -28.22%
Deferred Revenue $120.3M $126.8M
YoY Change 82.83% 81.09%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $141.4M $151.3M
YoY Change 42.17% 47.19%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $216.0K $170.0M
YoY Change -99.81% 35.07%
Total Long-Term Liabilities $216.0K $170.0M
YoY Change -99.81% 35.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $141.4M $151.3M
Total Long-Term Liabilities $216.0K $170.0M
Total Liabilities $294.2M $321.3M
YoY Change 39.19% 40.52%
SHAREHOLDERS EQUITY
Retained Earnings -$727.3M -$726.2M
YoY Change 25.01% 30.23%
Common Stock $1.000K $1.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$85.03M -$86.64M
YoY Change
Total Liabilities & Shareholders Equity $209.2M $234.6M
YoY Change -19.57% -20.95%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$1.087M -$3.311M
YoY Change -95.51% -86.14%
Depreciation, Depletion And Amortization $610.0K $595.0K
YoY Change 0.0% -1.16%
Cash From Operating Activities -$25.18M $9.349M
YoY Change -26.46% -122.63%
INVESTING ACTIVITIES
Capital Expenditures $517.0K $48.00K
YoY Change -225.49% -93.48%
Acquisitions
YoY Change
Other Investing Activities $26.56M -$146.6M
YoY Change
Cash From Investing Activities $26.04M -$146.6M
YoY Change -6420.39% 19824.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 317.0K 0.000
YoY Change -29.71% -100.0%
NET CHANGE
Cash From Operating Activities -25.18M 9.349M
Cash From Investing Activities 26.04M -146.6M
Cash From Financing Activities 317.0K 0.000
Net Change In Cash 1.179M -137.3M
YoY Change -103.45% 226.56%
FREE CASH FLOW
Cash From Operating Activities -$25.18M $9.349M
Capital Expenditures $517.0K $48.00K
Free Cash Flow -$25.70M $9.301M
YoY Change -24.04% -122.12%

Facts In Submission

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CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p id="notes_to_condensed_financial_statements" style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1. Descriptio</span><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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">n of the Business</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;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:&quot;Times New Roman&quot;, serif;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>
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;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:&quot;Times New Roman&quot;, serif;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;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:&quot;Times New Roman&quot;, serif;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 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>
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
56357000
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
917000
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
917000
CY2022Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
917000
CY2021Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
917000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
57274000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
194567000
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
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15525577
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14545414
CY2023Q1 ctmx Cash Cash Equivalents And Investments Amortized Cost Basis
CashCashEquivalentsAndInvestmentsAmortizedCostBasis
205830000
CY2023Q1 ctmx Cash Cash Equivalents And Short Term Investments Accumulated Gross Unrealized Gain Before Tax
CashCashEquivalentsAndShortTermInvestmentsAccumulatedGrossUnrealizedGainBeforeTax
26000
CY2023Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
205856000
CY2022Q4 ctmx Cash Cash Equivalents And Investments Amortized Cost Basis
CashCashEquivalentsAndInvestmentsAmortizedCostBasis
95564000
CY2022Q4 ctmx Cash Cash Equivalents And Short Term Investments Accumulated Gross Unrealized Gain Before Tax
CashCashEquivalentsAndShortTermInvestmentsAccumulatedGrossUnrealizedGainBeforeTax
10000
CY2022Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
95574000
CY2023Q1 ctmx Accrued Research And Clinical Current
AccruedResearchAndClinicalCurrent
12500000
CY2022Q4 ctmx Accrued Research And Clinical Current
AccruedResearchAndClinicalCurrent
13089000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4372000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8060000
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
757000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1413000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4204000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4082000
CY2023Q1 ctmx Restructuring Expenses
RestructuringExpenses
83000
CY2022Q4 ctmx Restructuring Expenses
RestructuringExpenses
1627000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
359000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
261000
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22275000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
28532000
CY2023Q1 us-gaap Revenues
Revenues
23499000
CY2022Q1 us-gaap Revenues
Revenues
9040000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
301326000
CY2023Q1 ctmx Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
869000
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
18278000
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
283917000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
284760000
CY2022Q1 ctmx Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
1058000
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
9084000
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
276734000
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
283900000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
13289838
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.67
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1151023
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.59
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
307176
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.89
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14133685
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.30
CY2022Q3 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.40
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
1676000
CY2023Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
1425000
CY2023Q1 ctmx Change Of Estimates
ChangeOfEstimates
-168000
CY2023Q1 us-gaap Restructuring Reserve
RestructuringReserve
83000
CY2023Q1 ctmx Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Remainder Of Fiscal Year
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsRemainderOfFiscalYear
974000
CY2023Q1 ctmx Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Next Twelve Months
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInNextTwelveMonths
1333000
CY2023Q1 ctmx Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Two
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearTwo
1379000
CY2023Q1 ctmx Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Three
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearThree
1067000
CY2023Q1 ctmx Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
4753000

Files In Submission

Name View Source Status
ctmx-20230331_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
ctmx-20230331_pre.xml Edgar Link unprocessable
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0000950170-23-019654.txt Edgar Link pending
0000950170-23-019654-xbrl.zip Edgar Link pending
ctmx-20230331.htm Edgar Link pending
ctmx-20230331.xsd Edgar Link pending
ctmx-20230331_cal.xml Edgar Link unprocessable
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