$GBIO
Generation Bio Co.

2024 Q2 Form 10-Q Financial Statement

#000155837024007962 Filed on May 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $4.091M $4.059M
YoY Change 364.89%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.515M $10.43M
YoY Change -26.62% -18.95%
% of Gross Profit
Research & Development $16.39M $14.34M
YoY Change -24.94% -34.84%
% of Gross Profit
Depreciation & Amortization $1.300M $1.300M
YoY Change -1.14% 0.0%
% of Gross Profit
Operating Expenses $27.40M $81.69M
YoY Change -21.26% 134.31%
Operating Profit -$23.31M -$77.63M
YoY Change -31.28% 122.66%
Interest Expense $2.877M $3.093M
YoY Change 0.84% 11.58%
% of Operating Profit
Other Income/Expense, Net $2.877M $3.093M
YoY Change 0.84% 11.58%
Pretax Income -$20.43M -$74.54M
YoY Change -34.23% 132.26%
Income Tax
% Of Pretax Income
Net Earnings -$20.43M -$74.50M
YoY Change -34.23% 132.09%
Net Earnings / Revenue -499.44% -1835.43%
Basic Earnings Per Share -$0.31 -$1.12
Diluted Earnings Per Share -$0.31 -$1.12
COMMON SHARES
Basic Shares Outstanding 66.53M 66.48M
Diluted Shares Outstanding 66.53M 66.43M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $216.9M $219.3M
YoY Change -30.94% -24.02%
Cash & Equivalents $28.50M $35.53M
Short-Term Investments $188.4M $183.8M
Other Short-Term Assets $5.002M $7.548M
YoY Change -18.53% 11.49%
Inventory
Prepaid Expenses
Receivables $1.337M $0.00
Other Receivables $1.337M $0.00
Total Short-Term Assets $223.3M $226.9M
YoY Change -30.36% -34.2%
LONG-TERM ASSETS
Property, Plant & Equipment $17.09M $18.59M
YoY Change -78.03% -15.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $14.63M
YoY Change
Other Assets $200.0K $253.0K
YoY Change -96.9% -56.6%
Total Long-Term Assets $41.98M $59.03M
YoY Change -50.17% -31.9%
TOTAL ASSETS
Total Short-Term Assets $223.3M $226.9M
Total Long-Term Assets $41.98M $59.03M
Total Assets $265.3M $285.9M
YoY Change -34.48% -33.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.910M $1.482M
YoY Change -17.96% -1.46%
Accrued Expenses $14.24M $13.67M
YoY Change -8.04% -8.65%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $30.10M $28.31M
YoY Change 13.69% 24.52%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $119.8M $125.6M
YoY Change -3.52% -3.06%
Total Long-Term Liabilities $119.8M $125.6M
YoY Change -3.52% -3.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $30.10M $28.31M
Total Long-Term Liabilities $119.8M $125.6M
Total Liabilities $149.9M $153.9M
YoY Change -0.49% 1.06%
SHAREHOLDERS EQUITY
Retained Earnings -$666.4M -$645.9M
YoY Change 31.2% 35.44%
Common Stock $7.000K $7.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $115.4M $132.0M
YoY Change
Total Liabilities & Shareholders Equity $265.3M $285.9M
YoY Change -34.48% -33.73%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$20.43M -$74.50M
YoY Change -34.23% 132.09%
Depreciation, Depletion And Amortization $1.300M $1.300M
YoY Change -1.14% 0.0%
Cash From Operating Activities -$21.54M -$31.70M
YoY Change -186.81% 14.52%
INVESTING ACTIVITIES
Capital Expenditures $14.00K $1.918M
YoY Change -99.04% 154.04%
Acquisitions
YoY Change
Other Investing Activities $12.10M $1.365M
YoY Change -53.21% -128.08%
Cash From Investing Activities $12.09M -$553.0K
YoY Change -50.48% -90.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 234.0K -125.0K
YoY Change 136.36% -100.35%
NET CHANGE
Cash From Operating Activities -21.54M -31.70M
Cash From Investing Activities 12.09M -553.0K
Cash From Financing Activities 234.0K -125.0K
Net Change In Cash -9.211M -32.38M
YoY Change -118.68% -1405.97%
FREE CASH FLOW
Cash From Operating Activities -$21.54M -$31.70M
Capital Expenditures $14.00K $1.918M
Free Cash Flow -$21.55M -$33.62M
YoY Change -192.27% 18.23%

Facts In Submission

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CY2024Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2024Q1 us-gaap Marketable Securities Unrealized Gain Loss
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CY2024Q1 dei Entity Incorporation Date Of Incorporation
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CY2024Q1 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;text-align:justify;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;">Use of estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">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 expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the <span style="background:#ffffff;">measurement of proportional performance of the performance obligation of our collaboration agreements, </span>accrual of research, and development expenses and stock-based compensation expense. We base our estimates on historical experience, known trends and other market-specific or other relevant factors that we believe 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.</p>
CY2024Q1 us-gaap Other Employee Related Liabilities Current And Noncurrent
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CY2024Q1 us-gaap Property Plant And Equipment Gross
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CY2023Q4 us-gaap Property Plant And Equipment Gross
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CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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19695000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18586000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
25799000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1300000
CY2024Q1 us-gaap Depreciation Depletion And Amortization
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1300000
CY2024Q1 us-gaap Employee Related Liabilities Current
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4042000
CY2023Q4 us-gaap Employee Related Liabilities Current
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13208000
CY2024Q1 gbio Accrued External Research And Development Expenses Current
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587000
CY2023Q4 gbio Accrued External Research And Development Expenses Current
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1169000
CY2024Q1 us-gaap Accrued Professional Fees Current
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675000
CY2023Q4 us-gaap Accrued Professional Fees Current
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908000
CY2024Q1 gbio Accrued Expense On Property And Equipment
AccruedExpenseOnPropertyAndEquipment
0
CY2023Q4 gbio Accrued Expense On Property And Equipment
AccruedExpenseOnPropertyAndEquipment
838000
CY2024Q1 us-gaap Other Liabilities Current
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355000
CY2023Q4 us-gaap Other Liabilities Current
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406000
CY2024Q1 us-gaap Accrued Liabilities And Other Liabilities
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5659000
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
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CY2023Q4 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
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0.40
CY2024Q1 us-gaap Restructuring And Related Cost Incurred Cost
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300000
CY2023Q1 us-gaap Restructuring And Related Cost Incurred Cost
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CY2024Q1 us-gaap Lessee Operating Lease Existence Of Option To Extend
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CY2024Q1 us-gaap Lessee Operating Lease Lease Not Yet Commenced Renewal Term1
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CY2024Q1 gbio Letter Of Credit For Security Deposit
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2100000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2021Q3 us-gaap Lessee Operating Lease Lease Not Yet Commenced Option To Extend
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CY2021Q3 us-gaap Lessee Operating Lease Lease Not Yet Commenced Renewal Term1
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CY2021Q3 gbio Initial Monthly Base Rent On Operating Lease
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400000
CY2021Q3 gbio Construction Allowance In Operating Lease
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26000000.0
CY2024Q1 us-gaap Security Deposit Liability
SecurityDepositLiability
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CY2024Q1 us-gaap Operating Lease Impairment Loss
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CY2024Q1 us-gaap Payments For Tenant Improvements
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3900000
CY2024Q1 us-gaap Accretion Expense
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CY2024Q1 us-gaap Gain Loss On Termination Of Lease
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CY2024Q1 us-gaap Operating Lease Liability
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CY2024Q1 us-gaap Operating Lease Cost
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1467000
CY2023Q1 us-gaap Operating Lease Cost
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3216000
CY2024Q1 us-gaap Variable Lease Cost
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525000
CY2023Q1 us-gaap Variable Lease Cost
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871000
CY2024Q1 us-gaap Lease Cost
LeaseCost
1992000
CY2023Q1 us-gaap Lease Cost
LeaseCost
4087000
CY2024Q1 us-gaap Operating Lease Payments
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1900000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3100000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P7Y
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.071
CY2024Q1 us-gaap Common Stock Shares Authorized
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150000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
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CY2024Q1 us-gaap Preferred Stock Shares Authorized
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5000000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.0001
CY2024Q2 us-gaap Stock Issued During Period Shares New Issues
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CY2024Q2 us-gaap Sale Of Stock Consideration Received On Transaction
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CY2024Q1 gbio Number Of Vote Per Common Share
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CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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20100000
CY2024Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
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0.04
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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13012071
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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11443922
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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false

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