$CTMX
CytomX Therapeutics Inc

2020 Q2 Form 10-Q Financial Statement

#000156459020022844 Filed on May 07, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $16.61M $49.59M $29.49M
YoY Change 84.27% 68.2% 107.88%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.680M $9.570M $9.670M
YoY Change -7.76% -1.03% 31.39%
% of Gross Profit
Research & Development $24.07M $42.81M $36.38M
YoY Change -21.95% 17.69% 61.97%
% of Gross Profit
Depreciation & Amortization $700.0K $600.0K $600.0K
YoY Change 0.0% 0.0% 50.0%
% of Gross Profit
Operating Expenses $32.75M $52.39M $36.38M
YoY Change -18.64% 44.01% 22.01%
Operating Profit -$16.14M
YoY Change -48.33%
Interest Expense $450.0K $1.080M $2.500M
YoY Change -80.93% -56.8% 81.16%
% of Operating Profit
Other Income/Expense, Net $5.000K $10.00K -$61.00K
YoY Change -105.56% -116.39% -56.43%
Pretax Income -$15.68M -$1.710M -$14.13M
YoY Change -45.86% -87.9% -1.84%
Income Tax $0.00 -$13.91M -$6.000K
% Of Pretax Income
Net Earnings -$15.68M $12.21M -$14.12M
YoY Change -45.86% -186.41% -8.84%
Net Earnings / Revenue -94.41% 24.61% -47.9%
Basic Earnings Per Share
Diluted Earnings Per Share -$340.4K $267.1K -$312.9K
COMMON SHARES
Basic Shares Outstanding 45.92M 45.72M 45.12M
Diluted Shares Outstanding 47.04M 45.12M

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $346.4M $247.9M $396.6M
YoY Change -0.79% -37.49% 9.71%
Cash & Equivalents $291.4M $143.3M $190.4M
Short-Term Investments $55.00M $104.6M $206.2M
Other Short-Term Assets $6.900M $9.100M $8.400M
YoY Change -8.0% 8.33% 52.73%
Inventory
Prepaid Expenses
Receivables $200.0K $130.0M $0.00
Other Receivables $13.10M $13.10M $0.00
Total Short-Term Assets $366.6M $400.1M $405.1M
YoY Change -0.02% -1.23% 10.37%
LONG-TERM ASSETS
Property, Plant & Equipment $31.40M $32.10M $34.80M
YoY Change 333.82% -7.76% 652.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.300M $1.379M $2.300M
YoY Change 67.27% -40.04% 0.0%
Total Long-Term Assets $35.90M $36.56M $39.40M
YoY Change -7.01% -7.2% 316.09%
TOTAL ASSETS
Total Short-Term Assets $366.6M $400.1M $405.1M
Total Long-Term Assets $35.90M $36.56M $39.40M
Total Assets $402.5M $436.7M $444.5M
YoY Change -0.69% -1.76% 18.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.900M $3.782M $9.500M
YoY Change 8.41% -60.19% 79.25%
Accrued Expenses $21.15M $28.35M $22.60M
YoY Change -5.88% 25.46% 38.65%
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 $98.80M $106.0M $96.20M
YoY Change 25.58% 10.19% 38.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $244.9M $260.9M $225.7M
YoY Change 25330.94% 15.6% 10882.97%
Total Long-Term Liabilities $244.9M $260.9M $225.7M
YoY Change 25330.94% 15.6% 10882.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $98.80M $106.0M $96.20M
Total Long-Term Liabilities $244.9M $260.9M $225.7M
Total Liabilities $343.7M $366.9M $321.9M
YoY Change 13.14% 13.98% -1.5%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $58.83M $69.77M $122.6M
YoY Change
Total Liabilities & Shareholders Equity $402.5M $436.7M $444.5M
YoY Change -0.69% -1.75% 18.07%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$15.68M $12.21M -$14.12M
YoY Change -45.86% -186.41% -8.84%
Depreciation, Depletion And Amortization $700.0K $600.0K $600.0K
YoY Change 0.0% 0.0% 50.0%
Cash From Operating Activities $97.10M -$49.74M -$39.03M
YoY Change -299.38% 27.44% 167.1%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K $1.049M $1.835M
YoY Change -75.0% -42.83% 144.34%
Acquisitions
YoY Change
Other Investing Activities $49.50M $3.500M -$16.80M
YoY Change 578.08% -120.83% -25.66%
Cash From Investing Activities $49.50M $2.441M -$18.61M
YoY Change 617.39% -113.12% -20.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.500M 2.157M 465.0K
YoY Change 114.29% 363.87% -82.13%
NET CHANGE
Cash From Operating Activities 97.10M -49.74M -39.03M
Cash From Investing Activities 49.50M 2.441M -18.61M
Cash From Financing Activities 1.500M 2.157M 465.0K
Net Change In Cash 148.1M -45.14M -57.17M
YoY Change -460.34% -21.04% 61.53%
FREE CASH FLOW
Cash From Operating Activities $97.10M -$49.74M -$39.03M
Capital Expenditures -$100.0K $1.049M $1.835M
Free Cash Flow $97.20M -$50.79M -$40.86M
YoY Change -301.24% 24.28% 165.99%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1. Description of the Business</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">CytomX Therapeutics, Inc. (the “Company”) is a clinical-stage, oncology-focused biopharmaceutical company with a vision of transforming lives with safer, more effective therapeutics. The Company is pioneering a novel class of investigational antibody therapeutics, based on its Probody® therapeutic technology platform for the treatment of cancer. The Probody therapeutic approach is designed to more specifically target antibody therapeutics to the tumor microenvironment and minimize drug activity in healthy tissue and in circulation. The Company is located in South San Francisco, California and was incorporated in the state of Delaware in September 2010.</p>
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ContractWithCustomerLiability
230239000
CY2020Q1 ctmx Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
120000000
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
39584000
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
310655000
CY2020Q1 ctmx Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
120000000.0
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
39600000
CY2020Q1 ctmx Contract With Customer Liability Additions
ContractWithCustomerLiabilityAdditions
120000000.0
CY2020Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
310700000
CY2020Q1 ctmx Royalty Obligations Future Minimum Payments Due
RoyaltyObligationsFutureMinimumPaymentsDue
200000
CY2020Q1 ctmx License Termination Period
LicenseTerminationPeriod
P60D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9936168
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.26
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2803644
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.85
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
395528
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.45
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
436962
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
12.97
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
11907322
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.19
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
6057239
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
11.14
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4013000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5192000
CY2019Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1300000
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
1300000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1239000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1205000
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
24682000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25382000
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2903000
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2810000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24105000
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
24871000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
27008000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
27681000
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0825
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0825
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3751000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5129000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5273000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5420000
CY2020Q1 ctmx Lessee Operating Lease Liability Payments Due Year Five And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndThereafter
15689000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
35262000
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8254000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
27008000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-13900000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6000
CY2020Q1 ctmx Percentage Of Taxable Income From Net Operating Losses For Suspension Of Annual Deduction Limitation
PercentageOfTaxableIncomeFromNetOperatingLossesForSuspensionOfAnnualDeductionLimitation
0.80

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