$FHTX
Foghorn Therapeutics Inc.

2022 Q2 Form 10-Q Financial Statement

#000162828022013333 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $4.490M $3.920M $713.0K
YoY Change 1509.32% 1270.63% 185.2%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.704M $7.216M $6.332M
YoY Change 57.29% 53.86% 38.86%
% of Gross Profit
Research & Development $25.97M $24.51M $22.46M
YoY Change 39.33% 30.88% 36.39%
% of Gross Profit
Depreciation & Amortization $819.0K $800.0K $810.0K
YoY Change 2.37% 0.0% 42.11%
% of Gross Profit
Operating Expenses $33.68M $31.72M $28.80M
YoY Change 43.07% 35.48% 36.92%
Operating Profit -$29.19M -$27.80M
YoY Change 25.48% 20.21%
Interest Expense $0.00 $0.00 -$426.0K
YoY Change -100.0% -100.0% 33.13%
% of Operating Profit
Other Income/Expense, Net $1.875M $890.0K $598.0K
YoY Change 1150.0% 518.06% 6.79%
Pretax Income -$27.31M -$26.91M -$29.14M
YoY Change 18.18% 17.07% 40.38%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$27.31M -$26.90M -$29.14M
YoY Change 18.18% 16.96% 40.38%
Net Earnings / Revenue -608.31% -686.22% -4087.38%
Basic Earnings Per Share -$0.65
Diluted Earnings Per Share -$657.9K -$0.65 -$766.0K
COMMON SHARES
Basic Shares Outstanding 41.47M shares 41.37M shares 37.09M shares
Diluted Shares Outstanding 41.52M shares 41.37M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $394.7M $424.7M $154.3M
YoY Change 179.41% 163.95% -16.95%
Cash & Equivalents $61.21M $213.6M $101.1M
Short-Term Investments $333.5M $211.1M $53.15M
Other Short-Term Assets $5.337M $5.086M $5.273M
YoY Change 57.02% 15.59% 7.61%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $400.1M $429.8M $459.6M
YoY Change 176.53% 160.0% 141.0%
LONG-TERM ASSETS
Property, Plant & Equipment $52.72M $54.35M $56.08M
YoY Change -11.65% -11.2% 187.17%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.110M $2.403M $2.400M
YoY Change 68.1% 49.91% 185.04%
Total Long-Term Assets $56.83M $58.48M $60.21M
YoY Change -10.99% -9.43% -7.23%
TOTAL ASSETS
Total Short-Term Assets $400.1M $429.8M $459.6M
Total Long-Term Assets $56.83M $58.48M $60.21M
Total Assets $456.9M $488.3M $519.8M
YoY Change 119.11% 112.41% 103.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.635M $5.071M $3.819M
YoY Change 6.72% 74.2% 3.78%
Accrued Expenses $13.49M $7.010M $9.562M
YoY Change 161.9% 36.75% 4.38%
Deferred Revenue $30.06M $28.32M
YoY Change 1148.82% 1299.06%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.97M $48.24M $48.69M
YoY Change 192.22% 195.39% 158.37%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Other Long-Term Liabilities $361.3M $116.0K $143.0K
YoY Change 432.13% -99.83%
Total Long-Term Liabilities $361.3M $116.0K $143.0K
YoY Change 1706.52% -99.42% -99.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.97M $48.24M $48.69M
Total Long-Term Liabilities $361.3M $116.0K $143.0K
Total Liabilities $409.3M $415.9M $422.9M
YoY Change 292.26% 297.15% 286.54%
SHAREHOLDERS EQUITY
Retained Earnings -$291.2M -$264.3M
YoY Change 56.64% 62.18%
Common Stock $4.000K $4.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.63M $72.40M $96.87M
YoY Change
Total Liabilities & Shareholders Equity $456.9M $488.3M $519.8M
YoY Change 119.11% 112.41% 103.36%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$27.31M -$26.90M -$29.14M
YoY Change 18.18% 16.96% 40.38%
Depreciation, Depletion And Amortization $819.0K $800.0K $810.0K
YoY Change 2.37% 0.0% 42.11%
Cash From Operating Activities -$29.01M $271.5M $11.88M
YoY Change 56.99% -1273.09% -211.46%
INVESTING ACTIVITIES
Capital Expenditures -$364.0K $247.0K -$80.00K
YoY Change -69.99% -86.23% -98.93%
Acquisitions
YoY Change
Other Investing Activities -$124.1M -$159.2M $9.753M
YoY Change -258.48% 10727.35% -110.52%
Cash From Investing Activities -$124.5M -$159.4M $9.673M
YoY Change -261.45% 4788.35% -109.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.030M $384.0K 21.74M
YoY Change 811.5% 519.35% -83.08%
NET CHANGE
Cash From Operating Activities -29.01M $271.5M 11.88M
Cash From Investing Activities -124.5M -$159.4M 9.673M
Cash From Financing Activities 1.030M $384.0K 21.74M
Net Change In Cash -152.4M $112.5M 43.29M
YoY Change -359.6% -527.04% 145.58%
FREE CASH FLOW
Cash From Operating Activities -$29.01M $271.5M $11.88M
Capital Expenditures -$364.0K $247.0K -$80.00K
Free Cash Flow -$28.65M $271.3M $11.96M
YoY Change 65.91% -1187.72% -477.35%

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CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
384000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
62000 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
384000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
62000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
112509000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26346000 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
102869000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94528000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
215378000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68182000 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
0 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
400000 USD
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
239000 USD
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
959000 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
213645000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
66449000 USD
CY2022Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1733000 USD
CY2021Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1733000 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
215378000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
68182000 USD
CY2020Q3 fhtx Proceeds From Upfront Payment
ProceedsFromUpfrontPayment
15000000 USD
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-26900000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-23000000 USD
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-291200000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
212287000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
6000 USD
CY2022Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1200000 USD
CY2022Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
211093000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
53163000 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 USD
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
10000 USD
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
53153000 USD
CY2022Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
23084000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
22893000 USD
CY2022Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
6141000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
5330000 USD
CY2022Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
16943000 USD
CY2021Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
17563000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M6D
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000 USD
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1365000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5596000 USD
CY2022Q1 fhtx Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
4697000 USD
CY2021Q4 fhtx Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
3079000 USD
CY2022Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
718000 USD
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
495000 USD
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
230000 USD
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
392000 USD
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7010000 USD
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9562000 USD
CY2022Q1 fhtx Common Stock Voting Rights Votes
CommonStockVotingRightsVotes
1 vote
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7790503 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6321699 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
780891 shares
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3244000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1888000 USD
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
39400000 USD
CY2020Q3 fhtx Proceeds From Upfront Payment
ProceedsFromUpfrontPayment
15000000 USD

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