2018 Q3 Form 10-Q Financial Statement

#000156459018028639 Filed on November 08, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q4 2017 Q3
Revenue $18.01M $10.00K $10.00K
YoY Change 180000.0% 0.0% -9.09%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.320M $2.400M $2.180M
YoY Change 98.17% 77.78% 127.08%
% of Gross Profit
Research & Development $12.26M $8.290M $7.560M
YoY Change 62.17% 25.04% -0.4%
% of Gross Profit
Depreciation & Amortization $200.0K $90.00K $70.00K
YoY Change 185.71% 28.57% 0.0%
% of Gross Profit
Operating Expenses $16.58M $10.70M $9.747M
YoY Change 70.12% 33.95% 14.11%
Operating Profit $1.427M -$9.737M
YoY Change -114.66% 14.14%
Interest Expense -$300.0K -$150.0K -$220.0K
YoY Change 36.36% -67.39% -53.19%
% of Operating Profit -21.02%
Other Income/Expense, Net -$301.0K -$216.0K
YoY Change 39.35% -53.94%
Pretax Income $1.126M -$10.84M -$9.953M
YoY Change -111.31% 28.59% 10.59%
Income Tax $1.509M
% Of Pretax Income 134.01%
Net Earnings -$383.0K -$10.84M -$9.953M
YoY Change -96.15% 28.55% 10.59%
Net Earnings / Revenue -2.13% -108370.0% -99530.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$285.7K -$8.150M -$7.538M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2017 Q4 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.80M $88.73M $99.57M
YoY Change -19.86% 183.97% 171.32%
Cash & Equivalents $23.48M $35.93M $74.84M
Short-Term Investments $56.40M $52.79M $24.73M
Other Short-Term Assets $5.200M $1.900M $1.200M
YoY Change 333.33% 58.33% -29.41%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $85.10M $90.63M $100.8M
YoY Change -15.58% 179.19% 163.19%
LONG-TERM ASSETS
Property, Plant & Equipment $4.000M $1.217M $1.000M
YoY Change 300.0% 63.8% 25.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.237M $227.0K $300.0K
YoY Change 312.33% -89.43% -84.21%
Total Long-Term Assets $5.253M $1.444M $1.400M
YoY Change 275.21% -50.03% -48.15%
TOTAL ASSETS
Total Short-Term Assets $85.10M $90.63M $100.8M
Total Long-Term Assets $5.253M $1.444M $1.400M
Total Assets $90.35M $92.07M $102.2M
YoY Change -11.59% 160.45% 149.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.555M $1.951M $1.200M
YoY Change 279.58% 17.11% -36.84%
Accrued Expenses $10.00M $8.120M $8.300M
YoY Change 20.52% 49.35% 59.62%
Deferred Revenue $36.00K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.200M $7.200M
YoY Change 0.0% 20.0%
Total Short-Term Liabilities $14.60M $17.33M $16.70M
YoY Change -12.57% 20.5% 25.56%
LONG-TERM LIABILITIES
Long-Term Debt $26.10M $3.625M $5.300M
YoY Change 392.45% -64.6% -57.94%
Other Long-Term Liabilities $2.000M $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $28.10M $3.625M $5.300M
YoY Change 430.19% -64.6% -58.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.60M $17.33M $16.70M
Total Long-Term Liabilities $28.10M $3.625M $5.300M
Total Liabilities $42.70M $20.99M $22.06M
YoY Change 93.61% -25.97% -15.17%
SHAREHOLDERS EQUITY
Retained Earnings -$166.9M
YoY Change 30.41%
Common Stock $238.0M
YoY Change 6543.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.67M $71.08M $80.12M
YoY Change
Total Liabilities & Shareholders Equity $90.40M $92.07M $102.2M
YoY Change -11.52% 160.45% 149.2%

Cashflow Statement

Concept 2018 Q3 2017 Q4 2017 Q3
OPERATING ACTIVITIES
Net Income -$383.0K -$10.84M -$9.953M
YoY Change -96.15% 28.55% 10.59%
Depreciation, Depletion And Amortization $200.0K $90.00K $70.00K
YoY Change 185.71% 28.57% 0.0%
Cash From Operating Activities $940.0K -$9.170M -$7.040M
YoY Change -113.35% 18.32% -11.34%
INVESTING ACTIVITIES
Capital Expenditures -$620.0K -$320.0K -$230.0K
YoY Change 169.57% 3100.0% -36.11%
Acquisitions
YoY Change
Other Investing Activities -$1.460M -$28.08M $7.810M
YoY Change -118.69% -509.93% 15.19%
Cash From Investing Activities -$2.080M -$28.40M $7.570M
YoY Change -127.48% -515.2% 17.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -1.340M -1.800M
YoY Change -100.0% -157.51% -662.5%
NET CHANGE
Cash From Operating Activities 940.0K -9.170M -7.040M
Cash From Investing Activities -2.080M -28.40M 7.570M
Cash From Financing Activities 0.000 -1.340M -1.800M
Net Change In Cash -1.140M -38.91M -1.270M
YoY Change -10.24% -2840.14% 6.72%
FREE CASH FLOW
Cash From Operating Activities $940.0K -$9.170M -$7.040M
Capital Expenditures -$620.0K -$320.0K -$230.0K
Free Cash Flow $1.560M -$8.850M -$6.810M
YoY Change -122.91% 14.34% -10.16%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2017Q4 us-gaap Common Stock Value
CommonStockValue
20000
CY2017Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
238025000
CY2017Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-166929000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
15021000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
337000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4946000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2646720
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1237000
CY2018Q3 us-gaap Assets
Assets
90353000
CY2018Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
4555000
CY2018Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10003000
CY2017Q4 us-gaap Notes Payable Current
NotesPayableCurrent
7200000
CY2018Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
36000
CY2017Q4 toca Deferred Grant Funding
DeferredGrantFunding
23000
CY2018Q3 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
2027000
CY2017Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-34000
CY2017Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
90603000
CY2017Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
74842000
CY2017Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2017Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2017Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1126000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-9953000
CY2018Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1509000
us-gaap Paid In Kind Interest
PaidInKindInterest
1016000
us-gaap Paid In Kind Interest
PaidInKindInterest
441000
toca Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
784000
toca Increase Decrease In Deferred Grant Funding
IncreaseDecreaseInDeferredGrantFunding
-11000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-22526000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21961000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
32651000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
31644000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
20000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
690000
toca Proceeds From Issuance Of Notes Payable Net Of Issuance Costs
ProceedsFromIssuanceOfNotesPayableNetOfIssuanceCosts
26325000
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
8631000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
3000000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
5400000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
327000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
47000
toca Proceeds From Offering Of Common Net Of Stock Issuance Costs
ProceedsFromOfferingOfCommonNetOfStockIssuanceCosts
88618000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
7338000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-12451000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
69332000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5510000
toca Allowance For Tenant Improvements Included In Deferred Rent
AllowanceForTenantImprovementsIncludedInDeferredRent
1243000
toca Fair Value Of Common Stock Warrants Issued In Connection With Notes Payable
FairValueOfCommonStockWarrantsIssuedInConnectionWithNotesPayable
479000
toca Convertible Preferred Stock Converted Into Shares Of Common Stock
ConvertiblePreferredStockConvertedIntoSharesOfCommonStock
131410000
toca Convertible Promissory Notes Principal And Accrued Interest Converted Into Shares Of Common Stock
ConvertiblePromissoryNotesPrincipalAndAccruedInterestConvertedIntoSharesOfCommonStock
11092000
toca Preferred Stock Warrants Liabilities Converted Into Warrants To Purchase Share Of Common Stock
PreferredStockWarrantsLiabilitiesConvertedIntoWarrantsToPurchaseShareOfCommonStock
89000
CY2018Q3 us-gaap Interest Payable Current
InterestPayableCurrent
193000
toca Deferred Equity Issuance Cost Payment Reclassified Of Equity Effective Intial Public Offering
DeferredEquityIssuanceCostPaymentReclassifiedOfEquityEffectiveIntialPublicOffering
1574000
toca Deferred Debt And Equity Issuance Costs Incurred But Not Yet Paid
DeferredDebtAndEquityIssuanceCostsIncurredButNotYetPaid
96000
us-gaap Use Of Estimates
UseOfEstimates
<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 GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses and the disclosure of contingent assets and liabilities in the financial statements and accompanying notes. 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>
CY2017Q4 us-gaap Interest Payable Current
InterestPayableCurrent
77000
CY2018Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
230000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Initial Offering Period
InitialOfferingPeriod
April 19, 2017
CY2017Q2 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
86900000
CY2018Q3 toca Working Capital
WorkingCapital
70500000
CY2018Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
79800000
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3704740
CY2017Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2646720
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3704740
CY2018Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2017Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2018Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2018Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
24000
CY2017Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
31000
CY2017Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
52792000
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
0
CY2018Q3 toca Accrued Clinical Trial Expenses Current
AccruedClinicalTrialExpensesCurrent
4293000
CY2017Q4 toca Accrued Clinical Trial Expenses Current
AccruedClinicalTrialExpensesCurrent
2809000
CY2018Q3 toca Accrued Contract Manufacturing Services Current
AccruedContractManufacturingServicesCurrent
1371000
CY2017Q4 toca Accrued Contract Manufacturing Services Current
AccruedContractManufacturingServicesCurrent
1536000
CY2018Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2665000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2489000
CY2017Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
276000
CY2018Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1251000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
933000
CY2018Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
4368468
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1927000
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1491000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5120000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3076000

Files In Submission

Name View Source Status
0001564590-18-028639-index-headers.html Edgar Link pending
0001564590-18-028639-index.html Edgar Link pending
0001564590-18-028639.txt Edgar Link pending
0001564590-18-028639-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
toca-10q_20180930.htm Edgar Link pending
toca-20180930.xml Edgar Link completed
toca-20180930.xsd Edgar Link pending
toca-20180930_cal.xml Edgar Link unprocessable
toca-20180930_def.xml Edgar Link unprocessable
toca-20180930_lab.xml Edgar Link unprocessable
toca-20180930_pre.xml Edgar Link unprocessable
toca-ex102_140.htm Edgar Link pending
toca-ex311_18.htm Edgar Link pending
toca-ex312_17.htm Edgar Link pending
toca-ex321_19.htm Edgar Link pending