$FBRX
Forte Biosciences, Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019042987 Filed on November 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $9.000K $18.01M $9.000K
YoY Change -99.95% 180000.0% -10.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.840M $4.320M $2.570M
YoY Change -11.11% 98.17% 26.6%
% of Gross Profit
Research & Development $353.0K $12.26M $12.76M
YoY Change -97.12% 62.17% 92.45%
% of Gross Profit
Depreciation & Amortization $230.0K $200.0K $120.0K
YoY Change 15.0% 185.71% 100.0%
% of Gross Profit
Operating Expenses $17.13M $16.58M $15.34M
YoY Change 3.32% 70.12% 77.05%
Operating Profit -$17.12M $1.427M -$15.33M
YoY Change -1299.93% -114.66% 77.15%
Interest Expense -$1.610M -$300.0K -$760.0K
YoY Change 436.67% 36.36% 85.37%
% of Operating Profit -21.02%
Other Income/Expense, Net -$6.000K -$301.0K -$762.0K
YoY Change -98.01% 39.35%
Pretax Income -$18.74M $1.126M -$16.09M
YoY Change -1763.85% -111.31% 77.4%
Income Tax $0.00 $1.509M
% Of Pretax Income 134.01%
Net Earnings -$690.0K -$383.0K -$16.09M
YoY Change 80.16% -96.15% 77.47%
Net Earnings / Revenue -7666.67% -2.13% -178766.67%
Basic Earnings Per Share
Diluted Earnings Per Share -$11.79M -$285.7K -$12.10M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.34M $79.80M $79.46M
YoY Change -30.65% -19.86% -26.83%
Cash & Equivalents $25.58M $23.48M $24.61M
Short-Term Investments $29.76M $56.40M $54.85M
Other Short-Term Assets $4.200M $5.200M $4.000M
YoY Change -19.23% 333.33% 300.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $59.54M $85.10M $83.50M
YoY Change -30.03% -15.58% -23.81%
LONG-TERM ASSETS
Property, Plant & Equipment $3.604M $4.000M $3.700M
YoY Change -9.9% 300.0% 311.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.000K $1.237M $200.0K
YoY Change -99.6% 312.33% -33.33%
Total Long-Term Assets $11.21M $5.253M $3.800M
YoY Change 113.33% 275.21% 216.67%
TOTAL ASSETS
Total Short-Term Assets $59.54M $85.10M $83.50M
Total Long-Term Assets $11.21M $5.253M $3.800M
Total Assets $70.75M $90.35M $87.30M
YoY Change -21.7% -11.59% -21.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.293M $4.555M $1.500M
YoY Change -49.66% 279.58% 15.38%
Accrued Expenses $11.60M $10.00M $11.20M
YoY Change 15.98% 20.52% 67.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $27.80M
YoY Change
Total Short-Term Liabilities $41.75M $14.60M $13.77M
YoY Change 185.93% -12.57% -9.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $26.10M $25.91M
YoY Change -100.0% 392.45% 275.55%
Other Long-Term Liabilities $81.00K $2.000M $1.600M
YoY Change -95.95% 1500.0%
Total Long-Term Liabilities $81.00K $28.10M $25.91M
YoY Change -99.71% 430.19% 270.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $41.75M $14.60M $13.77M
Total Long-Term Liabilities $81.00K $28.10M $25.91M
Total Liabilities $50.95M $42.70M $41.25M
YoY Change 19.32% 93.61% 85.8%
SHAREHOLDERS EQUITY
Retained Earnings -$268.8M
YoY Change
Common Stock $288.6M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.80M $47.67M $46.09M
YoY Change
Total Liabilities & Shareholders Equity $70.75M $90.40M $87.30M
YoY Change -21.74% -11.52% -21.21%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income -$690.0K -$383.0K -$16.09M
YoY Change 80.16% -96.15% 77.47%
Depreciation, Depletion And Amortization $230.0K $200.0K $120.0K
YoY Change 15.0% 185.71% 100.0%
Cash From Operating Activities -$12.69M $940.0K -$10.76M
YoY Change -1450.0% -113.35% 46.39%
INVESTING ACTIVITIES
Capital Expenditures -$170.0K -$620.0K -$660.0K
YoY Change -72.58% 169.57% 1000.0%
Acquisitions
YoY Change
Other Investing Activities $19.53M -$1.460M $1.450M
YoY Change -1437.67% -118.69% -113.68%
Cash From Investing Activities $19.36M -$2.080M $790.0K
YoY Change -1030.77% -127.48% -107.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.00K 0.000 16.79M
YoY Change -100.0% -80.74%
NET CHANGE
Cash From Operating Activities -12.69M 940.0K -10.76M
Cash From Investing Activities 19.36M -2.080M 790.0K
Cash From Financing Activities 10.00K 0.000 16.79M
Net Change In Cash 6.680M -1.140M 6.820M
YoY Change -685.96% -10.24% -90.14%
FREE CASH FLOW
Cash From Operating Activities -$12.69M $940.0K -$10.76M
Capital Expenditures -$170.0K -$620.0K -$660.0K
Free Cash Flow -$12.52M $1.560M -$10.10M
YoY Change -902.56% -122.91% 38.55%

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CY2019Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
29762000
CY2018Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
55273000
us-gaap Other Than Temporary Impairment Losses Investments Portion Recognized In Earnings Net
OtherThanTemporaryImpairmentLossesInvestmentsPortionRecognizedInEarningsNet
0
CY2018Q4 toca Accrued Clinical Trial Expenses Current
AccruedClinicalTrialExpensesCurrent
4535000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2840000
CY2018Q4 toca Accrued Contract Manufacturing Services Current
AccruedContractManufacturingServicesCurrent
3411000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
474000
CY2018Q4 us-gaap Interest Payable Current
InterestPayableCurrent
205000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1629000
CY2019Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5433138
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company leases its office and laboratory space located in San Diego, California, for its corporate headquarters and research facility under an operating lease agreement (the Lease). The Lease commenced in March 2018.
toca Lessee Operating Lease Commenced Period
LesseeOperatingLeaseCommencedPeriod
2018-03
CY2019Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P8Y

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0001564590-19-042987-index-headers.html Edgar Link pending
0001564590-19-042987-index.html Edgar Link pending
0001564590-19-042987.txt Edgar Link pending
0001564590-19-042987-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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toca-10q_20190930.htm Edgar Link pending
toca-20190930.xml Edgar Link completed
toca-20190930.xsd Edgar Link pending
toca-20190930_cal.xml Edgar Link unprocessable
toca-20190930_def.xml Edgar Link unprocessable
toca-20190930_lab.xml Edgar Link unprocessable
toca-20190930_pre.xml Edgar Link unprocessable
toca-ex101_6.htm Edgar Link pending
toca-ex311_7.htm Edgar Link pending
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toca-ex321_8.htm Edgar Link pending