$ETNB
89bio, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021056616 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.622M $3.230M $3.230M
YoY Change 43.1% 112.5% 289.16%
% of Gross Profit
Research & Development $23.59M $11.21M $8.443M
YoY Change 110.44% 67.81% 166.76%
% of Gross Profit
Depreciation & Amortization $23.00K $20.00K $20.00K
YoY Change 15.0% 100.0%
% of Gross Profit
Operating Expenses $28.21M $14.43M $11.67M
YoY Change 95.51% 76.02% 191.9%
Operating Profit -$28.21M $11.67M
YoY Change 191.9%
Interest Expense $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$117.0K -$150.0K $98.00K
YoY Change -22.0% -98.57% -99.11%
Pretax Income -$28.33M -$14.58M -$11.77M
YoY Change 94.3% -21.9% -21.35%
Income Tax $0.00 $24.00K $0.00
% Of Pretax Income
Net Earnings -$28.33M -$14.60M -$11.77M
YoY Change 93.99% -22.01% -21.39%
Net Earnings / Revenue
Basic Earnings Per Share -$1.41
Diluted Earnings Per Share -$1.410M -$864.9K -$852.9K
COMMON SHARES
Basic Shares Outstanding 20.09M
Diluted Shares Outstanding 20.09M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $157.3M $219.2M $73.90M
YoY Change -28.22% 1253.09% 237.44%
Cash & Equivalents $39.70M $141.6M $68.20M
Short-Term Investments $117.6M $77.60M $5.700M
Other Short-Term Assets $9.703M $3.400M $1.400M
YoY Change 185.38% 750.0% 1300.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $167.0M $222.5M $75.30M
YoY Change -24.93% 1241.33% 242.27%
LONG-TERM ASSETS
Property, Plant & Equipment $146.0K $200.0K $200.0K
YoY Change -27.0% 308.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $874.0K $700.0K $1.080M
YoY Change 24.86% -58.82% 260.0%
Total Long-Term Assets $1.020M $900.0K $1.300M
YoY Change 13.33% -49.04% 333.33%
TOTAL ASSETS
Total Short-Term Assets $167.0M $222.5M $75.30M
Total Long-Term Assets $1.020M $900.0K $1.300M
Total Assets $168.1M $223.4M $76.60M
YoY Change -24.77% 1117.17% 243.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.53M $4.100M $3.100M
YoY Change 205.51% 14.81% 210.0%
Accrued Expenses $7.319M $5.300M $3.700M
YoY Change 38.09% 77.14% 37.04%
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 $19.85M $9.400M $6.791M
YoY Change 111.12% -58.37% -28.52%
LONG-TERM LIABILITIES
Long-Term Debt $1.441M $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.441M $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $19.85M $9.400M $6.791M
Total Long-Term Liabilities $1.441M $0.00 $0.00
Total Liabilities $21.29M $9.400M $6.800M
YoY Change 126.45% -58.41% -28.42%
SHAREHOLDERS EQUITY
Retained Earnings -$186.9M -$95.91M
YoY Change
Common Stock $165.7M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $146.8M $214.0M $69.77M
YoY Change
Total Liabilities & Shareholders Equity $168.1M $223.4M $76.56M
YoY Change -24.77% 1117.17% 243.33%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$28.33M -$14.60M -$11.77M
YoY Change 93.99% -22.01% -21.39%
Depreciation, Depletion And Amortization $23.00K $20.00K $20.00K
YoY Change 15.0% 100.0%
Cash From Operating Activities -$13.45M -$12.94M -$11.53M
YoY Change 3.94% 108.71% 191.16%
INVESTING ACTIVITIES
Capital Expenditures -$16.00K -$10.00K -$50.00K
YoY Change 60.0% 0.0% 150.0%
Acquisitions
YoY Change
Other Investing Activities $17.38M -$71.98M -$5.700M
YoY Change -124.14%
Cash From Investing Activities $17.36M -$71.99M -$5.750M
YoY Change -124.11% 719800.0% 28650.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 72.00K 158.3M -70.00K
YoY Change -99.95% 32206.12% -100.37%
NET CHANGE
Cash From Operating Activities -13.45M -12.94M -11.53M
Cash From Investing Activities 17.36M -71.99M -5.750M
Cash From Financing Activities 72.00K 158.3M -70.00K
Net Change In Cash 3.981M 73.37M -17.35M
YoY Change -94.57% -1382.69% -216.76%
FREE CASH FLOW
Cash From Operating Activities -$13.45M -$12.94M -$11.53M
Capital Expenditures -$16.00K -$10.00K -$50.00K
Free Cash Flow -$13.43M -$12.93M -$11.48M
YoY Change 3.9% 108.89% 191.37%

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us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include but are not limited to the fair value of stock options and certain accrued expenses. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ from those estimates. </p>
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
181856000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
766513
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
22.55
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
67000
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
212000
CY2021Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
7000
CY2021Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
70000
CY2020Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
61000
etnb Number Of Shares Issuable Under Share Based Payment Arrangement
NumberOfSharesIssuableUnderShareBasedPaymentArrangement
2844193
etnb Percentage Of Increase In Number Of Shares Of Capital Stock Issued And Outstanding
PercentageOfIncreaseInNumberOfSharesOfCapitalStockIssuedAndOutstanding
0.04
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1447655
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2314000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1154000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2557000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term Simplified Method
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTermSimplifiedMethod
10.0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1898395
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.79
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
25918000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
167286
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.67
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
93889
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
19.03
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2403733
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.36
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
16813000
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
829994
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
10103000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2577202
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1263036

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