$FBRX
Forte Biosciences, Inc.

2021 Q1 Form 10-K Financial Statement

#000156459021013249 Filed on March 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4 2020
Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.420M $1.470M $4.220M
YoY Change 111.94% -52.88% -74.03%
% of Gross Profit
Research & Development $3.322M $3.030M $10.00M
YoY Change 5.76% -60.13% -77.92%
% of Gross Profit
Depreciation & Amortization $14.00K $10.00K $54.00K
YoY Change -75.44% -94.44% 390.91%
% of Gross Profit
Operating Expenses $4.741M $4.490M $46.28M
YoY Change 50.94% -58.08% 2.17%
Operating Profit -$4.741M -$46.28M
YoY Change
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$63.00K -$80.00K -$205.0K
YoY Change 173.91% 4000.0%
Pretax Income -$4.800M -$4.580M -$46.49M
YoY Change 134.15% -56.71% -26.8%
Income Tax
% Of Pretax Income
Net Earnings -$4.804M -$4.580M -$46.49M
YoY Change 134.34% -56.72% 1042.47%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$362.3K -$370.6K -$6.317M
COMMON SHARES
Basic Shares Outstanding 13.51M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.80M $58.80M $58.80M
YoY Change 1230.42% 197.36% 169.72%
Cash & Equivalents $54.80M $58.77M $58.80M
Short-Term Investments
Other Short-Term Assets $1.100M $1.200M $1.200M
YoY Change 266.67% 9.09% 9.09%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $55.90M $59.90M $59.90M
YoY Change 285.28% 160.93% 160.43%
LONG-TERM ASSETS
Property, Plant & Equipment $100.0K $97.00K $100.0K
YoY Change -85.59% -94.26% -98.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.113M $1.244M $1.200M
YoY Change
Total Long-Term Assets $1.200M $1.341M $1.300M
YoY Change -70.89% -108.77% -75.0%
TOTAL ASSETS
Total Short-Term Assets $55.90M $59.90M $59.90M
Total Long-Term Assets $1.200M $1.341M $1.300M
Total Assets $57.10M $61.24M $61.20M
YoY Change 206.46% 699.67% 117.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.200M $1.240M $1.200M
YoY Change -26.24% -20.97% -62.5%
Accrued Expenses $1.164M $1.019M $1.000M
YoY Change -80.7% 197.08% -80.77%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.400M $2.300M $2.300M
YoY Change -81.01% -82.58% -82.58%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.400M $2.300M $2.300M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $2.400M $2.300M $2.300M
YoY Change -85.5% -86.71% -86.71%
SHAREHOLDERS EQUITY
Retained Earnings -$56.30M -$51.50M
YoY Change -80.56% -81.57%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $54.70M $58.98M $59.00M
YoY Change
Total Liabilities & Shareholders Equity $57.10M $61.24M $61.20M
YoY Change 206.99% 117.47% 117.02%

Cashflow Statement

Concept 2021 Q1 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$4.804M -$4.580M -$46.49M
YoY Change 134.34% -56.72% 1042.47%
Depreciation, Depletion And Amortization $14.00K $10.00K $54.00K
YoY Change -75.44% -94.44% 390.91%
Cash From Operating Activities -$4.030M -$3.800M -$18.42M
YoY Change 40.66% -64.52% 564.85%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $3.580M
YoY Change -100.0% -91.63%
Cash From Investing Activities $0.00 $3.582M
YoY Change -100.0% -91.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $66.70M
YoY Change 12005.08%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.00K 42.40M 66.67M
YoY Change -40.0% -283.07% -547.19%
NET CHANGE
Cash From Operating Activities -4.030M -3.800M -18.42M
Cash From Investing Activities 0.000 3.582M
Cash From Financing Activities 27.00K 42.40M 66.67M
Net Change In Cash -4.003M 38.60M 51.83M
YoY Change 41.95% -332.53% 2595.06%
FREE CASH FLOW
Cash From Operating Activities -$4.030M -$3.800M -$18.42M
Capital Expenditures
Free Cash Flow
YoY Change

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CY2020 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
4390000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.094
CY2020 fbrx Income Tax Reconciliation Deferred Adjustments
IncomeTaxReconciliationDeferredAdjustments
38000
CY2020 fbrx Income Tax Reconciliation Deferred Adjustments Percent
IncomeTaxReconciliationDeferredAdjustmentsPercent
-0.001
CY2020 fbrx Income Tax Reconciliation Transaction Adjustments
IncomeTaxReconciliationTransactionAdjustments
-392000
CY2020 fbrx Income Tax Reconciliation Transaction Adjustments Percent
IncomeTaxReconciliationTransactionAdjustmentsPercent
0.009
CY2020 fbrx Income Tax Reconciliation Permanent Items
IncomeTaxReconciliationPermanentItems
340000
CY2020 fbrx Income Tax Reconciliation Permanent Items Percent
IncomeTaxReconciliationPermanentItemsPercent
-0.007
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
8643000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.186
CY2020 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-6000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.000
CY2019 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-7000
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.002
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2020Q4 fbrx Deferred Tax Assets Accrual To Cash Adjustment
DeferredTaxAssetsAccrualToCashAdjustment
256000
CY2019Q4 fbrx Deferred Tax Assets Accrual To Cash Adjustment
DeferredTaxAssetsAccrualToCashAdjustment
402000
CY2020Q4 fbrx Deferred Tax Assets Start Up Costs
DeferredTaxAssetsStartUpCosts
1730000
CY2019Q4 fbrx Deferred Tax Assets Start Up Costs
DeferredTaxAssetsStartUpCosts
479000
CY2020Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
57000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
275000
CY2019Q4 fbrx Deferred Tax Assets Depreciation
DeferredTaxAssetsDepreciation
3000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3429000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
597000
CY2020Q4 fbrx Deferred Tax Assets Acquisition
DeferredTaxAssetsAcquisition
418000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
6165000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
1481000
CY2020Q4 fbrx Deferred Tax Liabilities Depreciation
DeferredTaxLiabilitiesDepreciation
3000
CY2020Q4 fbrx Deferred Tax Liabilities State Taxes
DeferredTaxLiabilitiesStateTaxes
383000
CY2019Q4 fbrx Deferred Tax Liabilities State Taxes
DeferredTaxLiabilitiesStateTaxes
92000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
386000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
92000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5779000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
1389000
CY2020 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
4400000
CY2019 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
1100000
CY2020 fbrx Cumulative Change In Ownership Percentage
CumulativeChangeInOwnershipPercentage
0.50
CY2020Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2019Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Accrued
UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued
0
CY2020Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0
CY2019Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0

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