$FBRX
Forte Biosciences, Inc.

2017 Q3 Form 10-Q Financial Statement

#000156459017022849 Filed on November 08, 2017

View on sec.gov

Income Statement

Concept 2017 Q3 2016 Q3
Revenue $10.00K $11.00K
YoY Change -9.09% 10.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.180M $960.0K
YoY Change 127.08% -9.43%
% of Gross Profit
Research & Development $7.560M $7.590M
YoY Change -0.4% 36.02%
% of Gross Profit
Depreciation & Amortization $70.00K $70.00K
YoY Change 0.0% 40.0%
% of Gross Profit
Operating Expenses $9.747M $8.542M
YoY Change 14.11% 28.84%
Operating Profit -$9.737M -$8.531M
YoY Change 14.14%
Interest Expense -$220.0K -$470.0K
YoY Change -53.19% -1666.67%
% of Operating Profit
Other Income/Expense, Net -$216.0K -$469.0K
YoY Change -53.94% 2245.0%
Pretax Income -$9.953M -$9.000M
YoY Change 10.59% 36.36%
Income Tax
% Of Pretax Income
Net Earnings -$9.953M -$9.000M
YoY Change 10.59% 36.36%
Net Earnings / Revenue -99530.0% -81818.18%
Basic Earnings Per Share
Diluted Earnings Per Share -$7.538M -$7.317M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $99.57M $36.70M
YoY Change 171.32% -25.56%
Cash & Equivalents $74.84M $4.088M
Short-Term Investments $24.73M $32.60M
Other Short-Term Assets $1.200M $1.700M
YoY Change -29.41% 70.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $100.8M $38.30M
YoY Change 163.19% -24.01%
LONG-TERM ASSETS
Property, Plant & Equipment $1.000M $800.0K
YoY Change 25.0% 60.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $300.0K $1.900M
YoY Change -84.21% 533.33%
Total Long-Term Assets $1.400M $2.700M
YoY Change -48.15% 285.71%
TOTAL ASSETS
Total Short-Term Assets $100.8M $38.30M
Total Long-Term Assets $1.400M $2.700M
Total Assets $102.2M $41.00M
YoY Change 149.27% -19.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.200M $1.900M
YoY Change -36.84% 5.56%
Accrued Expenses $8.300M $5.200M
YoY Change 59.62% 48.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.200M $6.000M
YoY Change 20.0%
Total Short-Term Liabilities $16.70M $13.30M
YoY Change 25.56% 146.3%
LONG-TERM LIABILITIES
Long-Term Debt $5.300M $12.60M
YoY Change -57.94%
Other Long-Term Liabilities $0.00 $100.0K
YoY Change -100.0% 0.0%
Total Long-Term Liabilities $5.300M $12.70M
YoY Change -58.27% 12600.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.70M $13.30M
Total Long-Term Liabilities $5.300M $12.70M
Total Liabilities $22.06M $26.00M
YoY Change -15.17% 364.29%
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 $80.12M $15.00M
YoY Change
Total Liabilities & Shareholders Equity $102.2M $41.00M
YoY Change 149.2% -19.77%

Cashflow Statement

Concept 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$9.953M -$9.000M
YoY Change 10.59% 36.36%
Depreciation, Depletion And Amortization $70.00K $70.00K
YoY Change 0.0% 40.0%
Cash From Operating Activities -$7.040M -$7.940M
YoY Change -11.34% 38.81%
INVESTING ACTIVITIES
Capital Expenditures -$230.0K -$360.0K
YoY Change -36.11% 260.0%
Acquisitions
YoY Change
Other Investing Activities $7.810M $6.780M
YoY Change 15.19% -158.0%
Cash From Investing Activities $7.570M $6.430M
YoY Change 17.73% -154.58%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.800M 320.0K
YoY Change -662.5% -98.34%
NET CHANGE
Cash From Operating Activities -7.040M -7.940M
Cash From Investing Activities 7.570M 6.430M
Cash From Financing Activities -1.800M 320.0K
Net Change In Cash -1.270M -1.190M
YoY Change 6.72% -165.38%
FREE CASH FLOW
Cash From Operating Activities -$7.040M -$7.940M
Capital Expenditures -$230.0K -$360.0K
Free Cash Flow -$6.810M -$7.580M
YoY Change -10.16% 34.88%

Facts In Submission

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<div> <p style="margin-top:18pt;margin-bottom:0pt;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-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The Company&#8217;s financial statements are prepared in accordance with accounting principles generally accepted in the United States (GAAP), which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and expenses and related disclosures during the reporting period. Significant estimates in the Company&#8217;s financial statements relate to clinical trial accruals, the valuation of equity awards, and the development period used for license revenue recognition. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results may differ from these estimates under different assumptions or conditions.</p></div>
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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentration of Credit Risk and Off-Balance Sheet Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash equivalents and marketable securities. The Company&#8217;s investment policy includes guidelines for the quality of the related institutions and financial instruments, and defines allowable investments that the Company may invest in, which the Company believes minimizes the exposure to concentration of credit risk.</p></div>
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us-gaap Stockholders Equity Note Stock Split
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CY2016Q3 us-gaap Allocated Share Based Compensation Expense
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316000

Files In Submission

Name View Source Status
0001564590-17-022849-index-headers.html Edgar Link pending
0001564590-17-022849-index.html Edgar Link pending
0001564590-17-022849.txt Edgar Link pending
0001564590-17-022849-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
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