$ERAS
Erasca, Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022016907 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.778M $8.417M $7.076M
YoY Change 26.92% 65.1% 92.18%
% of Gross Profit
Research & Development $28.18M $27.49M $27.43M
YoY Change 41.27% 56.2% 124.0%
% of Gross Profit
Depreciation & Amortization $771.0K $534.0K $403.0K
YoY Change 303.66% 215.98% 170.47%
% of Gross Profit
Operating Expenses $36.96M $35.91M $36.51M
YoY Change -19.72% 27.39% 86.18%
Operating Profit -$36.96M -$35.91M -$36.51M
YoY Change -19.72% 27.39% 86.18%
Interest Expense $1.522M $388.0K $114.0K
YoY Change 3006.12% 1151.61% 280.0%
% of Operating Profit
Other Income/Expense, Net $1.473M $297.0K $47.00K
YoY Change -5992.0% -1090.0% -97.04%
Pretax Income -$35.49M -$35.61M -$36.46M
YoY Change -22.97% 26.21% 102.35%
Income Tax
% Of Pretax Income
Net Earnings -$35.49M -$35.61M -$36.46M
YoY Change -22.97% 26.21% 102.35%
Net Earnings / Revenue
Basic Earnings Per Share -$0.29 -$0.30 -$0.31
Diluted Earnings Per Share -$0.29 -$0.30 -$305.1K
COMMON SHARES
Basic Shares Outstanding 122.1M 120.2M 121.6M
Diluted Shares Outstanding 120.8M 120.2M 119.5M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $355.9M $371.5M $392.5M
YoY Change -26.86% 91.81% 84.86%
Cash & Equivalents $219.3M $298.0M $333.3M
Short-Term Investments $136.7M $73.47M $59.19M
Other Short-Term Assets $9.823M $9.945M $10.84M
YoY Change 73.31% 174.88% 440.97%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $365.8M $381.4M $403.4M
YoY Change -25.71% 93.33% 88.19%
LONG-TERM ASSETS
Property, Plant & Equipment $24.88M $24.19M $20.41M
YoY Change 191.96% 971.82% 437.12%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.569M $19.31M $29.22M
YoY Change 286.26% 484.48%
Other Assets $4.775M $4.712M $5.126M
YoY Change 186.79% 32.73% 245.19%
Total Long-Term Assets $80.68M $63.40M $72.10M
YoY Change 172.24% 384.28% 601.04%
TOTAL ASSETS
Total Short-Term Assets $365.8M $381.4M $403.4M
Total Long-Term Assets $80.68M $63.40M $72.10M
Total Assets $446.4M $444.8M $475.5M
YoY Change -14.47% 111.43% 111.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.319M $2.291M $4.712M
YoY Change 226.21% 52.02% 352.21%
Accrued Expenses $21.43M $17.86M $14.27M
YoY Change 40.93% 35.55% 110.84%
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 $27.68M $22.32M $21.39M
YoY Change 41.31% 24.59% 90.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $53.43M $27.44M $29.42M
YoY Change 175.86% 1544.9% 1468.85%
Total Long-Term Liabilities $53.43M $27.44M $29.42M
YoY Change 175.86% 1544.9% 1468.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.68M $22.32M $21.39M
Total Long-Term Liabilities $53.43M $27.44M $29.42M
Total Liabilities $81.11M $49.76M $50.81M
YoY Change 108.2% 154.09% 288.17%
SHAREHOLDERS EQUITY
Retained Earnings -$345.7M -$310.2M -$274.6M
YoY Change 66.44% 91.96%
Common Stock $712.4M $706.5M $700.2M
YoY Change 3.15% 5971.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $365.3M $395.1M $424.7M
YoY Change
Total Liabilities & Shareholders Equity $446.4M $444.8M $475.5M
YoY Change -14.47% 111.43% 111.67%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$35.49M -$35.61M -$36.46M
YoY Change -22.97% 26.21% 102.35%
Depreciation, Depletion And Amortization $771.0K $534.0K $403.0K
YoY Change 303.66% 215.98% 170.47%
Cash From Operating Activities -$23.94M -$27.14M -$25.81M
YoY Change 3.13% 48.86% 64.73%
INVESTING ACTIVITIES
Capital Expenditures -$1.792M -$4.559M $7.336M
YoY Change -61.66% 687.39% 5913.11%
Acquisitions
YoY Change
Other Investing Activities -$53.44M -$4.632M $5.542M
YoY Change 20064.91% -191.92% -13955.0%
Cash From Investing Activities -$55.23M -$9.191M -$1.794M
YoY Change 1018.22% -306.08% 1007.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 427.0K 992.0K 460.0K
YoY Change -99.87% 451.11% -99.62%
NET CHANGE
Cash From Operating Activities -23.94M -27.14M -25.81M
Cash From Investing Activities -55.23M -9.191M -1.794M
Cash From Financing Activities 427.0K 992.0K 460.0K
Net Change In Cash -78.75M -35.34M -27.14M
YoY Change -127.21% 159.99% -125.92%
FREE CASH FLOW
Cash From Operating Activities -$23.94M -$27.14M -$25.81M
Capital Expenditures -$1.792M -$4.559M $7.336M
Free Cash Flow -$22.15M -$22.58M -$33.14M
YoY Change 19.46% 27.91% 109.92%

Facts In Submission

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<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:Arial;min-width:fit-content;">Use of estimates</span></p><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="white-space:pre-wrap;font-size:10.0pt;font-family:Arial;min-width:fit-content;"/> </p><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:normal;font-size:10.0pt;font-family:Arial;min-width:fit-content;">The preparation of the Company’s condensed consolidated financial statements in conformity with US GAAP requires the Company to make estimates and assumptions that impact the reported amounts of assets, liabilities, expenses, and the disclosure of contingent assets and liabilities in the condensed consolidated financial statements and accompanying notes. Accounting estimates and management judgments reflected in the condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses, fair value of common stock, preferred stock and freestanding instruments, stock-based compensation expense, and the incremental borrowing rate for determining the operating lease asset and liability. Management evaluates its estimates on an ongoing basis. Although estimates are based on the Company’s historical experience, knowledge of current events, and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</span></p>
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The restricted stock vests 25% one year from the vesting commencement date and monthly thereafter over a three-year period and is subject to repurchase by the Company in the event of any voluntary or involuntary termination of services to the Company prior to vesting.
CY2022Q2 eras Shares Of Common Stock Subject To Repurchase
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us-gaap Foreign Income Tax Expense Benefit Continuing Operations
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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