$FATE
FATE THERAPEUTICS INC

2018 Q1 Form 10-Q Financial Statement

#000156459018012939 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $1.026M $1.027M
YoY Change -0.1% -22.31%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.600M $3.030M
YoY Change 18.81% 16.54%
% of Gross Profit
Research & Development $11.48M $7.970M
YoY Change 43.99% 20.1%
% of Gross Profit
Depreciation & Amortization $286.0K $206.0K
YoY Change 38.83% -9.25%
% of Gross Profit
Operating Expenses $15.08M $11.00M
YoY Change 37.12% 19.05%
Operating Profit
YoY Change
Interest Expense -$80.00K -$160.0K
YoY Change -50.0% -132.79%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$14.14M -$10.13M
YoY Change 39.59% 20.88%
Income Tax
% Of Pretax Income
Net Earnings -$14.14M -$10.13M
YoY Change 39.59% 20.88%
Net Earnings / Revenue -1377.68% -985.98%
Basic Earnings Per Share
Diluted Earnings Per Share -$268.0K -$244.7K
COMMON SHARES
Basic Shares Outstanding 52.77M 41.39M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $88.60M $82.30M
YoY Change 7.65% 48.02%
Cash & Equivalents $33.03M $40.73M
Short-Term Investments $55.70M $41.70M
Other Short-Term Assets $1.500M $1.100M
YoY Change 36.36% 10.0%
Inventory
Prepaid Expenses
Receivables $500.0K
Other Receivables $0.00
Total Short-Term Assets $90.60M $83.40M
YoY Change 8.63% 47.35%
LONG-TERM ASSETS
Property, Plant & Equipment $2.600M $1.700M
YoY Change 52.94% -15.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $100.0K
YoY Change 0.0% 0.0%
Total Long-Term Assets $2.800M $1.900M
YoY Change 47.37% -9.52%
TOTAL ASSETS
Total Short-Term Assets $90.60M $83.40M
Total Long-Term Assets $2.800M $1.900M
Total Assets $93.40M $85.30M
YoY Change 9.5% 45.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.200M $2.500M
YoY Change -12.0% 25.0%
Accrued Expenses $7.400M $4.700M
YoY Change 57.45% 135.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $800.0K $7.620M
YoY Change -89.5% -1.04%
Total Short-Term Liabilities $12.60M $16.90M
YoY Change -25.43% 21.56%
LONG-TERM LIABILITIES
Long-Term Debt $14.10M $1.100M
YoY Change 1181.82% -87.36%
Other Long-Term Liabilities $1.800M $3.500M
YoY Change -48.57% -35.19%
Total Long-Term Liabilities $15.90M $4.600M
YoY Change 245.65% -67.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.60M $16.90M
Total Long-Term Liabilities $15.90M $4.600M
Total Liabilities $28.40M $21.50M
YoY Change 32.09% -23.21%
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 $65.00M $63.86M
YoY Change
Total Liabilities & Shareholders Equity $93.40M $85.30M
YoY Change 9.5% 45.32%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$14.14M -$10.13M
YoY Change 39.59% 20.88%
Depreciation, Depletion And Amortization $286.0K $206.0K
YoY Change 38.83% -9.25%
Cash From Operating Activities -$12.55M -$7.460M
YoY Change 68.24% 2.9%
INVESTING ACTIVITIES
Capital Expenditures $184.0K $155.0K
YoY Change 18.71% -12.92%
Acquisitions
YoY Change
Other Investing Activities -$43.66M -$38.22M
YoY Change 14.23% 136.36%
Cash From Investing Activities -$43.84M -$38.38M
YoY Change 14.24% 134.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $2.011M
YoY Change 7.37%
Cash From Financing Activities 355.0K -2.170M
YoY Change -116.36% 25.43%
NET CHANGE
Cash From Operating Activities -12.55M -7.460M
Cash From Investing Activities -43.84M -38.38M
Cash From Financing Activities 355.0K -2.170M
Net Change In Cash -56.04M -48.01M
YoY Change 16.73% 89.61%
FREE CASH FLOW
Cash From Operating Activities -$12.55M -$7.460M
Capital Expenditures $184.0K $155.0K
Free Cash Flow -$12.74M -$7.615M
YoY Change 67.24% 2.52%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2018Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
500000
CY2017Q4 fate Short Term Investments And Related Maturity Receivables
ShortTermInvestmentsAndRelatedMaturityReceivables
11997000
CY2017Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
24000
CY2017Q4 us-gaap Assets
Assets
105292000
CY2017Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1678000
CY2017Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7254000
CY2017Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
12000
CY2017Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2105000
CY2018Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
500000
CY2017Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-75000
CY2017Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1677000
CY2017Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-7455000
CY2017Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
155000
CY2017Q1 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
39971000
CY2018Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
12000000
CY2017Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
1750000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-43844000
CY2017Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-38376000
CY2018Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
606000
CY2017Q1 us-gaap Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
34000
CY2017Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2011000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
355000
CY2017Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-2170000
CY2018Q1 fate Cash Cash Equivalents And Restricted Cash Period Increase Decrease
CashCashEquivalentsAndRestrictedCashPeriodIncreaseDecrease
-56040000
CY2017Q1 fate Cash Cash Equivalents And Restricted Cash Period Increase Decrease
CashCashEquivalentsAndRestrictedCashPeriodIncreaseDecrease
-48001000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
89074000
CY2016Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88731000
CY2018Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33034000
CY2017Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40730000
CY2018Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The Company&#8217;s consolidated financial statements are prepared in accordance with United States generally accepted accounting principles (GAAP). The preparation of the Company&#8217;s consolidated financial statements requires it 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&#8217;s consolidated financial statements and accompanying notes. The most significant estimates in the Company&#8217;s consolidated financial statements relate to accrued expenses. Although these estimates are based on the Company&#8217;s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</p></div>
CY2018Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
22000000
CY2017Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
20200000
CY2017Q1 fate Common Stock Issuable Upon Exercise Of Outstanding Options
CommonStockIssuableUponExerciseOfOutstandingOptions
6000000
CY2017Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
12000000
CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
3000
CY2017Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
11997000
CY2018Q1 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0
CY2018Q1 us-gaap Available For Sale Securities Gross Realized Gain Loss Net
AvailableForSaleSecuritiesGrossRealizedGainLossNet
0
CY2018Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2018Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2018Q1 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2018Q1 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2018Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
1273000
CY2017Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
1761000
CY2018Q1 fate Accrued Clinical Trial Related Costs Current
AccruedClinicalTrialRelatedCostsCurrent
2770000
CY2017Q4 fate Accrued Clinical Trial Related Costs Current
AccruedClinicalTrialRelatedCostsCurrent
3323000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2170000
CY2017Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
15000000
CY2017Q4 fate Debt Instrument Discount Non Current
DebtInstrumentDiscountNonCurrent
192000
CY2017Q4 fate Long Term Debt Net Of Long Term Portion Of Debt Issuance Costs And Discounts
LongTermDebtNetOfLongTermPortionOfDebtIssuanceCostsAndDiscounts
14808000
CY2018Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
100000

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0001564590-18-012939.txt Edgar Link pending
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