2013 Q4 Form 10-Q Financial Statement

#000110465913084191 Filed on November 13, 2013

View on sec.gov

Income Statement

Concept 2013 Q4 2013 Q3 2012 Q4
Revenue $0.00 $209.0K $643.0K
YoY Change -100.0% -60.42%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.870M $1.980M $1.280M
YoY Change 46.09% 130.23%
% of Gross Profit
Research & Development $3.030M $3.378M $3.400M
YoY Change -10.88% 1.9%
% of Gross Profit
Depreciation & Amortization $130.0K $140.0K $160.0K
YoY Change -18.75% -6.67%
% of Gross Profit
Operating Expenses $4.902M $5.357M $4.687M
YoY Change 4.59% 28.22%
Operating Profit -$5.148M
YoY Change 41.04%
Interest Expense -$840.0K -$930.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$925.0K $460.0K
YoY Change 99.78%
Pretax Income -$5.740M -$6.070M -$4.160M
YoY Change 37.98% 47.69%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$5.739M -$6.073M -$4.155M
YoY Change 38.12% 47.65%
Net Earnings / Revenue -2905.74% -646.19%
Basic Earnings Per Share
Diluted Earnings Per Share -$299.6K -$316.8K -$212.5K
COMMON SHARES
Basic Shares Outstanding 20.36M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2013 Q4 2013 Q3 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.00M $19.10M $9.100M
YoY Change 493.41%
Cash & Equivalents $54.04M $19.08M $9.087M
Short-Term Investments
Other Short-Term Assets $600.0K $300.0K $700.0K
YoY Change -14.29%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $54.65M $19.39M $9.793M
YoY Change 458.06%
LONG-TERM ASSETS
Property, Plant & Equipment $810.0K $789.0K $1.161M
YoY Change -30.23%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $2.743M $100.0K
YoY Change 0.0%
Total Long-Term Assets $932.0K $3.654M $1.283M
YoY Change -27.36%
TOTAL ASSETS
Total Short-Term Assets $54.65M $19.39M $9.793M
Total Long-Term Assets $932.0K $3.654M $1.283M
Total Assets $55.58M $23.04M $11.08M
YoY Change 401.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $682.0K $3.700M $1.228M
YoY Change -44.46%
Accrued Expenses $2.039M $1.040M
YoY Change 96.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $3.500M $0.00
YoY Change
Long-Term Debt Due $1.732M $1.971M $1.941M
YoY Change -10.77%
Total Short-Term Liabilities $4.600M $9.491M $4.850M
YoY Change -5.15%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $250.0K $1.732M
YoY Change -100.0%
Other Long-Term Liabilities $100.0K $3.200M $800.0K
YoY Change -87.5%
Total Long-Term Liabilities $100.0K $250.0K $1.732M
YoY Change -94.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.600M $9.491M $4.850M
Total Long-Term Liabilities $100.0K $250.0K $1.732M
Total Liabilities $4.700M $9.741M $6.582M
YoY Change -28.59%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $20.00K $1.000K $1.000K
YoY Change 1900.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.85M -$66.40M -$52.83M
YoY Change
Total Liabilities & Shareholders Equity $55.58M $23.04M $11.08M
YoY Change 401.83%

Cashflow Statement

Concept 2013 Q4 2013 Q3 2012 Q4
OPERATING ACTIVITIES
Net Income -$5.739M -$6.073M -$4.155M
YoY Change 38.12% 47.65%
Depreciation, Depletion And Amortization $130.0K $140.0K $160.0K
YoY Change -18.75% -6.67%
Cash From Operating Activities -$4.570M -$3.480M -$3.390M
YoY Change 34.81% 25.63%
INVESTING ACTIVITIES
Capital Expenditures -$150.0K -$20.00K -$300.0K
YoY Change -50.0% -94.29%
Acquisitions
YoY Change
Other Investing Activities $0.00 $10.00K $0.00
YoY Change
Cash From Investing Activities -$150.0K -$20.00K -$300.0K
YoY Change -50.0% -94.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 39.68M 19.17M 7.310M
YoY Change 442.82% 514.42%
NET CHANGE
Cash From Operating Activities -4.570M -3.480M -3.390M
Cash From Investing Activities -150.0K -20.00K -300.0K
Cash From Financing Activities 39.68M 19.17M 7.310M
Net Change In Cash 34.96M 15.67M 3.620M
YoY Change 865.75% -1682553438208000000.0%
FREE CASH FLOW
Cash From Operating Activities -$4.570M -$3.480M -$3.390M
Capital Expenditures -$150.0K -$20.00K -$300.0K
Free Cash Flow -$4.420M -$3.460M -$3.090M
YoY Change 43.04% 42.98%

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CY2012Q3 fate Shares Attributable To Share Based Payment Arrangements Excluded From Weighted Average Number Of Shares Outstanding
SharesAttributableToShareBasedPaymentArrangementsExcludedFromWeightedAverageNumberOfSharesOutstanding
166252 shares
fate Shares Attributable To Share Based Payment Arrangements Excluded From Weighted Average Number Of Shares Outstanding
SharesAttributableToShareBasedPaymentArrangementsExcludedFromWeightedAverageNumberOfSharesOutstanding
184517 shares
CY2013Q3 fate Shares Attributable To Share Based Payment Arrangements Excluded From Weighted Average Number Of Shares Outstanding
SharesAttributableToShareBasedPaymentArrangementsExcludedFromWeightedAverageNumberOfSharesOutstanding
102998 shares
fate Shares Attributable To Share Based Payment Arrangements Excluded From Weighted Average Number Of Shares Outstanding
SharesAttributableToShareBasedPaymentArrangementsExcludedFromWeightedAverageNumberOfSharesOutstanding
111614 shares
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7227388 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7227388 shares
CY2013Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9456944 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9456944 shares
CY2013Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0 USD
CY2013Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0 USD
CY2013Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0 USD
CY2013Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0 USD
dei Entity Central Index Key
EntityCentralIndexKey
0001434316
CY2013Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2250000 USD
CY2013Q3 us-gaap Long Term Debt
LongTermDebt
2250000 USD
CY2013Q3 fate Long Term Debt Gross Current
LongTermDebtGrossCurrent
2000000 USD
CY2013Q3 fate Debt Instrument Discount Current
DebtInstrumentDiscountCurrent
29000 USD
CY2012Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3750000 USD
CY2012Q4 fate Debt Instrument Discount Non Current
DebtInstrumentDiscountNonCurrent
18000 USD
CY2012Q4 us-gaap Long Term Debt
LongTermDebt
3732000 USD
CY2012Q4 fate Long Term Debt Gross Current
LongTermDebtGrossCurrent
2000000 USD
CY2012Q4 fate Debt Instrument Discount Current
DebtInstrumentDiscountCurrent
59000 USD
CY2013Q3 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
23700000 USD
CY2013Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
500000 USD
CY2013Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
900000 USD
CY2013Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
500000 USD
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-09-30
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
FATE THERAPEUTICS INC
CY2013Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
20357158 shares
CY2012Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5464000 USD
CY2011Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6387000 USD
CY2012Q4 fate Repurchase Liability For Unvested Equity Awards Current
RepurchaseLiabilityForUnvestedEquityAwardsCurrent
143000 USD
CY2013Q3 fate Repurchase Liability For Unvested Equity Awards Current
RepurchaseLiabilityForUnvestedEquityAwardsCurrent
106000 USD
CY2013Q3 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
20000000 USD
CY2013Q3 fate Lease Term Extended
LeaseTermExtended
P2Y
fate Schedule Of Actual And Proforma Balance Sheet Detail
ScheduleOfActualAndProformaBalanceSheetDetail
<div style="font-size:10.0pt;font-family:Times New Roman;FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;"> <p style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">The following table summarizes certain actual balance sheet data and pro forma balance sheet data to reflect the activities related to the Company&#8217;s IPO noted above, as of September&#160;30, 2013 (in thousands):</font></p> <p style="MARGIN: 0in 0in 0pt;">&#160;</p> <table style="text-align:left;TEXT-ALIGN: left; WIDTH: 797px; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 0.5in;" border="0" cellspacing="0" cellpadding="0" width="797"> <tr style="padding:0;PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px;"> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 65.4%; PADDING-RIGHT: 0in; PADDING-TOP: 0in;" valign="bottom" width="65%"> <p style="MARGIN: 0in 0in 0pt;">&#160;</p></td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; 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