$GBIO
Generation Bio Co.

2020 Q4 Form 10-Q Financial Statement

#000119312520289678 Filed on November 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.970M $5.660M
YoY Change
% of Gross Profit
Research & Development $16.37M $15.31M $13.45M
YoY Change 13.84%
% of Gross Profit
Depreciation & Amortization $990.0K $940.0K
YoY Change -25.56%
% of Gross Profit
Operating Expenses $24.35M $20.97M $16.33M
YoY Change 50.67% 28.38%
Operating Profit -$24.35M -$20.97M -$16.33M
YoY Change 50.67% 28.38%
Interest Expense $120.0K $120.0K
YoY Change
% of Operating Profit
Other Income/Expense, Net $120.0K $205.0K
YoY Change -41.46%
Pretax Income -$24.23M -$20.85M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$24.23M -$20.85M -$16.13M
YoY Change 50.82% 29.27%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$499.7K -$458.5K
COMMON SHARES
Basic Shares Outstanding 46.52M 46.43M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $262.3M $280.4M
YoY Change
Cash & Equivalents $62.89M $58.61M $24.00M
Short-Term Investments $199.4M $221.8M
Other Short-Term Assets $5.400M $5.400M
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00 $0.00
Other Receivables $0.00 $0.00
Total Short-Term Assets $267.7M $285.8M
YoY Change 1374.64%
LONG-TERM ASSETS
Property, Plant & Equipment $23.78M $22.89M
YoY Change 8.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $252.0K $169.0K
YoY Change
Total Long-Term Assets $26.42M $25.11M
YoY Change 10.16%
TOTAL ASSETS
Total Short-Term Assets $267.7M $285.8M
Total Long-Term Assets $26.42M $25.11M
Total Assets $294.2M $310.9M
YoY Change 598.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $267.0K $418.0K
YoY Change -88.14%
Accrued Expenses $8.900M $6.700M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.22M $9.163M
YoY Change 22.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.90M $15.20M
YoY Change
Total Long-Term Liabilities $14.90M $15.20M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $11.22M $9.163M
Total Long-Term Liabilities $14.90M $15.20M
Total Liabilities $26.14M $24.38M
YoY Change 3.99%
SHAREHOLDERS EQUITY
Retained Earnings -$189.0M -$164.7M
YoY Change 74.25%
Common Stock $5.000K $5.000K
YoY Change 400.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $268.0M $286.5M -$83.70M
YoY Change
Total Liabilities & Shareholders Equity $294.2M $310.9M
YoY Change 598.04%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$24.23M -$20.85M -$16.13M
YoY Change 50.82% 29.27%
Depreciation, Depletion And Amortization $990.0K $940.0K
YoY Change -25.56%
Cash From Operating Activities -$18.36M -$18.52M
YoY Change -22.17%
INVESTING ACTIVITIES
Capital Expenditures -$1.800M -$1.500M
YoY Change -73.49%
Acquisitions
YoY Change
Other Investing Activities $22.14M -$92.42M
YoY Change 46.82%
Cash From Investing Activities $20.35M -$93.93M
YoY Change 145.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.300M -650.0K
YoY Change 3185.71%
NET CHANGE
Cash From Operating Activities -18.36M -18.52M
Cash From Investing Activities 20.35M -93.93M
Cash From Financing Activities 2.300M -650.0K
Net Change In Cash 4.290M -113.1M
YoY Change -128.19%
FREE CASH FLOW
Cash From Operating Activities -$18.36M -$18.52M
Capital Expenditures -$1.800M -$1.500M
Free Cash Flow -$16.56M -$17.02M
YoY Change -1.43%

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CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1044000
CY2019Q3 us-gaap Profit Loss
ProfitLoss
-16128000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
-83703000
CY2020Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Document Type
DocumentType
10-Q
dei Entity File Number
EntityFileNumber
001-39319
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.04
CY2020Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
0
CY2019Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6976077
CY2020Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
45559757
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5270889
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
-88000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2016-10-21
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2020Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
-68646000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1080000
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-9000
CY2019Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
26425664
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
0
CY2020Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
46750000
CY2020Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46516475
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of estimates </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with GAAP 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 the reported amounts of revenue and expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses and stock-based compensation expense. The Company bases its estimates on historical experience, known trends and other&#160;market-specific&#160;or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Concentrations of credit risk and of significant suppliers </div></div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents, and marketable securities. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. The Company maintains its cash equivalents in money market funds that invest in U.S. treasury securities. The Company&#8217;s marketable securities as of September&#160;30, 2020 consisted of U.S government treasury securities, U.S. government agency bonds, commercial paper and corporate debt securities. The Company has adopted an investment policy that limits the amounts the Company may invest in the securities of single issuer with the exclusion of the U.S. government. The Company has not experienced any credit losses and does not believe that it is subject to significant credit risk. </div></div><div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: 'times new roman'; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company is dependent on a small number of third-party suppliers for its drug substance and drug product. In particular, the Company relies, and expects to continue to rely, on third-party suppliers for certain materials and components required for the production of any product candidates it may develop for its programs. These programs could be adversely affected by a significant interruption in the supply process. </div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
46516475

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