$FBRX
Forte Biosciences, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024096988 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.759M $7.078M
YoY Change -28.34% 273.51%
% of Gross Profit
Research & Development $5.720M $5.590M
YoY Change -10.19% -21.7%
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K
YoY Change
% of Gross Profit
Operating Expenses $8.629M $12.82M
YoY Change -15.53% 41.89%
Operating Profit -$8.629M -$12.82M
YoY Change -15.53% 41.89%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $237.0K $307.0K
YoY Change -9.2% 122.46%
Pretax Income -$8.392M -$12.51M
YoY Change -15.74% 40.64%
Income Tax
% Of Pretax Income
Net Earnings -$8.392M -$12.51M
YoY Change -15.7% 40.64%
Net Earnings / Revenue
Basic Earnings Per Share -$4.54 -$0.27
Diluted Earnings Per Share -$4.54 -$0.27
COMMON SHARES
Basic Shares Outstanding 36.50M 36.44M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.36M $24.50M
YoY Change -64.58% -19.38%
Cash & Equivalents $16.40M $24.50M
Short-Term Investments
Other Short-Term Assets $1.305M $1.213M
YoY Change 45.0% 276.71%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $17.67M $25.71M
YoY Change -62.49% -16.38%
LONG-TERM ASSETS
Property, Plant & Equipment $86.00K $96.00K
YoY Change -12.24% 220.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $192.0K $271.0K
YoY Change -71.72% -33.42%
Total Long-Term Assets $278.0K $367.0K
YoY Change -64.22% -16.02%
TOTAL ASSETS
Total Short-Term Assets $17.67M $25.71M
Total Long-Term Assets $278.0K $367.0K
Total Assets $17.95M $26.08M
YoY Change -62.52% -16.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.159M $5.275M
YoY Change -3.64% 75.48%
Accrued Expenses $3.421M $3.842M
YoY Change 61.6% 16.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.580M $9.117M
YoY Change 14.84% 44.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $8.580M $9.117M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $8.580M $9.117M
YoY Change 14.4% 44.71%
SHAREHOLDERS EQUITY
Retained Earnings -$146.8M -$138.5M
YoY Change 30.37% 34.86%
Common Stock $156.2M $155.4M
YoY Change 2.06% 21.82%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.366M $16.96M
YoY Change
Total Liabilities & Shareholders Equity $17.95M $26.08M
YoY Change -62.52% -16.37%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$8.392M -$12.51M
YoY Change -15.7% 40.64%
Depreciation, Depletion And Amortization $10.00K $10.00K
YoY Change
Cash From Operating Activities -$8.133M -$5.936M
YoY Change -10.23% 8.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.000K -10.00K
YoY Change -100.01% -58.33%
NET CHANGE
Cash From Operating Activities -8.133M -5.936M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -2.000K -10.00K
Net Change In Cash -8.135M -5.946M
YoY Change -131.59% -61.55%
FREE CASH FLOW
Cash From Operating Activities -$8.133M -$5.936M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$8.133M -$5.936M
YoY Change -10.92%

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<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the Company’s condensed consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities, expenses and the disclosure of contingent assets and liabilities in the Company’s condensed consolidated financial statements and accompanying notes. Significant management estimates that affect the reported amounts of assets, liabilities and expenses include stock-based compensation expense and accruals for clinical trials and drug manufacturing</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. 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>
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Camac Fund LP
CY2023Q3 us-gaap Loss Contingency Name Of Defendant
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members of the Company’s Board of Directors (the “Directors”) and entities affiliated with certain of the Company’s investors (the “Investors”) and naming the Company as nominal defendant.
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Forte Biosciences
CY2023Q4 us-gaap Loss Contingency Name Of Defendant
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Camac Fund, LP
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