2021 Q4 Form 10-Q Financial Statement

#000095017021003066 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $17.07M $14.23M $7.558M
YoY Change 7.35% 88.21% 211.16%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $16.94M $15.72M $8.350M
YoY Change 64.27% 88.24% 31.5%
% of Gross Profit
Research & Development $69.52M $53.13M $30.69M
YoY Change 78.34% 73.1% 32.29%
% of Gross Profit
Depreciation & Amortization $2.206M $1.519M $780.0K
YoY Change 156.51% 94.74% 32.2%
% of Gross Profit
Operating Expenses $86.45M $68.85M $39.05M
YoY Change 75.36% 76.33% 32.14%
Operating Profit -$54.62M -$31.49M
YoY Change 73.48% 16.11%
Interest Expense $761.0K $11.32M -$27.20M
YoY Change -103.86% -141.6% -5433.33%
% of Operating Profit
Other Income/Expense, Net $11.32M -$27.20M
YoY Change -141.6%
Pretax Income -$68.62M -$43.31M -$58.68M
YoY Change 29.21% -26.2% 120.52%
Income Tax
% Of Pretax Income
Net Earnings -$68.62M -$43.31M -$58.68M
YoY Change 29.21% -26.2% 120.54%
Net Earnings / Revenue -402.02% -304.45% -776.45%
Basic Earnings Per Share -$0.45
Diluted Earnings Per Share -$716.3K -$453.9K -$675.3K
COMMON SHARES
Basic Shares Outstanding 95.49M 95.41M
Diluted Shares Outstanding 95.41M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $615.9M $678.7M $488.8M
YoY Change 27.54% 38.85% 61.43%
Cash & Equivalents $133.6M $129.2M $349.1M
Short-Term Investments $482.3M $549.5M $139.7M
Other Short-Term Assets $8.826M $7.701M $4.700M
YoY Change 49.59% 63.85% 67.86%
Inventory
Prepaid Expenses
Receivables $8.676M $7.311M $3.200M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $633.4M $693.7M $496.8M
YoY Change 28.14% 39.64% 62.57%
LONG-TERM ASSETS
Property, Plant & Equipment $91.53M $74.62M $87.80M
YoY Change 183.3% -15.01% 809.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $100.7M $124.9M $13.20M
YoY Change 846.04%
Other Assets $33.00K $9.000K $15.20M
YoY Change 266.67% -99.94% 168788.89%
Total Long-Term Assets $288.0M $290.9M $129.6M
YoY Change 124.8% 124.43% 274.49%
TOTAL ASSETS
Total Short-Term Assets $633.4M $693.7M $496.8M
Total Long-Term Assets $288.0M $290.9M $129.6M
Total Assets $921.5M $984.6M $626.4M
YoY Change 48.04% 57.18% 84.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.612M $6.439M $3.700M
YoY Change 37.07% 74.03% -35.26%
Accrued Expenses $42.41M $54.00M $14.78M
YoY Change 172.5% 265.33% 6.78%
Deferred Revenue $21.48M $23.55M
YoY Change 1.6%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $81.28M $91.88M $54.20M
YoY Change -5.0% 69.54% 33.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $161.3M $162.4M $147.9M
YoY Change 5.86% 9.77% 368.04%
Total Long-Term Liabilities $161.3M $162.4M $147.9M
YoY Change 5.86% 9.77% 368.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $81.28M $91.88M $54.20M
Total Long-Term Liabilities $161.3M $162.4M $147.9M
Total Liabilities $242.6M $254.2M $202.1M
YoY Change 1.94% 25.8% 179.92%
SHAREHOLDERS EQUITY
Retained Earnings -$769.1M -$700.5M -$503.8M
YoY Change 38.09% 39.03%
Common Stock $96.00K $95.00K $87.00K
YoY Change 9.09% 9.2%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $678.8M $730.3M $424.4M
YoY Change
Total Liabilities & Shareholders Equity $921.5M $984.6M $626.4M
YoY Change 48.04% 57.17% 84.14%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$68.62M -$43.31M -$58.68M
YoY Change 29.21% -26.2% 120.54%
Depreciation, Depletion And Amortization $2.206M $1.519M $780.0K
YoY Change 156.51% 94.74% 32.2%
Cash From Operating Activities -$70.29M -$33.38M -$30.74M
YoY Change 240.24% 8.57% 54.94%
INVESTING ACTIVITIES
Capital Expenditures -$18.37M -$14.74M -$950.0K
YoY Change 709.21% 1451.05% -25.2%
Acquisitions
YoY Change
Other Investing Activities $89.65M $92.69M -$53.19M
YoY Change -154.75% -274.27% -241.65%
Cash From Investing Activities $71.28M $77.96M -$54.14M
YoY Change -142.93% -244.0% -249.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.418M 7.942M 930.0K
YoY Change -30.39% 753.98% -99.42%
NET CHANGE
Cash From Operating Activities -70.29M -33.38M -30.74M
Cash From Investing Activities 71.28M 77.96M -54.14M
Cash From Financing Activities 3.418M 7.942M 930.0K
Net Change In Cash 4.403M 52.53M -83.95M
YoY Change -102.42% -162.57% -147.13%
FREE CASH FLOW
Cash From Operating Activities -$70.29M -$33.38M -$30.74M
Capital Expenditures -$18.37M -$14.74M -$950.0K
Free Cash Flow -$51.92M -$18.64M -$29.79M
YoY Change 182.35% -37.43% 60.42%

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fate Proceeds From Issuance Of Pre Funded Warrants Net Of Issuance Costs
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ProceedsFromIssuanceOfPrivatePlacement
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ProceedsFromIssuanceOfPrivatePlacement
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fate Proceeds From Issuance Of Common Stock In Connection With Collaboration Agreement
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fate Proceeds From Cirm Award
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fate Proceeds From Cirm Award
ProceedsFromCIRMAward
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.3;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;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.3;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;">The Company’s unaudited condensed consolidated financial statements are prepared in accordance with United States generally accepted accounting principles (U.S. GAAP). The preparation of the Company’s unaudited condensed consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in the Company’s unaudited condensed consolidated financial statements and accompanying notes. The most significant estimates and assumptions in the Company’s unaudited condensed consolidated financial statements relate to its stock price appreciation milestone obligations, contracts containing leases, accrued expenses, stock-based compensation, and the estimated total costs expected to be incurred under the Company’s collaboration agreements. Although these estimates are based on the Company’s 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>
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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us-gaap Net Income Loss
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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23900000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-58700000
us-gaap Net Income Loss
NetIncomeLoss
-120300000
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26100000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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26100000
fate Period To Treat Award As Grant If Award Not Treated As Loan
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CY2021Q3 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
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us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
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CY2020Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
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CY2021Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
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CY2020Q3 us-gaap Other Than Temporary Impairment Credit Losses Recognized In Earnings Credit Losses On Debt Securities Held
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CY2021Q3 us-gaap Share Price
SharePrice
59.27
CY2021Q3 us-gaap Share Price
SharePrice
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fate Achievement Of Stock Price Appreciation Milestone
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0
CY2021Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
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fate Fair Value Liabilities Level1 To Level3 Transfers Amount
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fate Fair Value Liabilities Level2 To Level3 Transfers Amount
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0
fate Fair Value Liabilities Level3 To Level2 Transfers Amount
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0
fate Fair Value Liabilities Level3 To Level1 Transfers Amount
FairValueLiabilitiesLevel3ToLevel1TransfersAmount
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CY2021Q3 fate Accrued Milestone Payment Under The Amended Msk License Current
AccruedMilestonePaymentUnderTheAmendedMskLicenseCurrent
20000000
CY2020Q4 fate Accrued Milestone Payment Under The Amended Msk License Current
AccruedMilestonePaymentUnderTheAmendedMskLicenseCurrent
0
CY2021Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
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AccruedSalariesCurrent
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CY2021Q3 us-gaap Accrued Liabilities Current
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CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
15564000
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
These leases have terms varying from one to approximately sixteen years, with renewal options of up to ten years
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P12Y10M24D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.084
CY2021Q3 fate Straight Line Lease Expense
StraightLineLeaseExpense
3538000
CY2020Q3 fate Straight Line Lease Expense
StraightLineLeaseExpense
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fate Straight Line Lease Expense
StraightLineLeaseExpense
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fate Straight Line Lease Expense
StraightLineLeaseExpense
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CY2021Q3 us-gaap Variable Lease Cost
VariableLeaseCost
529000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
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us-gaap Variable Lease Cost
VariableLeaseCost
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us-gaap Variable Lease Cost
VariableLeaseCost
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CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2020Q3 us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
OperatingLeaseCost
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us-gaap Operating Lease Cost
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CY2021Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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us-gaap Short Term Lease Cost
ShortTermLeaseCost
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CY2020Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
200000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
400000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
14193000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
187567000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
78510000
CY2021Q3 us-gaap Operating Lease Liability
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CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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13540000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
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7843000
us-gaap Allocated Share Based Compensation Expense
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39770000
us-gaap Allocated Share Based Compensation Expense
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CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2021Q1 fate Public Offering Of Common Stock And Issuance Of Pre Funded Warrants
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CY2021Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2021Q1 us-gaap Net Income Loss
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CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q1 us-gaap Stockholders Equity
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CY2020Q2 us-gaap Stock Issued During Period Value New Issues
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CY2020Q2 fate Common Stock Issued During Period Value Private Placement1
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CY2020Q2 fate Stock Issued During Period Value Collaboration Partner
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481000
CY2020Q2 us-gaap Net Income Loss
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CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020Q3 us-gaap Stock Issued During Period Value New Issues
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CY2020Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Stockholders Equity
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CY2021Q2 us-gaap Net Income Loss
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CY2021Q2 us-gaap Stockholders Equity
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CY2021Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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13000
CY2021Q3 us-gaap Net Income Loss
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CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2019Q4 us-gaap Stockholders Equity
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CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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6913000
CY2020Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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120000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-33520000

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