$GOSS
Gossamer Bio, Inc.

2023 Q3 Form 10-Q Financial Statement

#000172811723000108 Filed on August 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.290M $9.476M $11.28M
YoY Change -19.2% -15.97% 0.12%
% of Gross Profit
Research & Development $31.20M $36.31M $42.58M
YoY Change -29.9% -14.73% -3.92%
% of Gross Profit
Depreciation & Amortization $400.0K $500.0K $460.0K
YoY Change -20.0% 8.7% 9.0%
% of Gross Profit
Operating Expenses $40.49M $46.30M $53.86M
YoY Change -27.72% -14.03% -3.13%
Operating Profit -$40.49M -$46.30M -$53.87M
YoY Change -27.72% -14.06% -3.1%
Interest Expense $3.343M $3.429M -$3.181M
YoY Change -3.8% -207.8% -165.8%
% of Operating Profit
Other Income/Expense, Net $482.0K $3.804M $587.0K
YoY Change -114.42% 548.04% -113.86%
Pretax Income -$40.01M -$42.50M -$56.47M
YoY Change -32.6% -24.74% -5.63%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$40.01M -$42.50M -$56.47M
YoY Change -32.6% -24.74% -5.63%
Net Earnings / Revenue
Basic Earnings Per Share -$0.21 -$0.45 -$0.74
Diluted Earnings Per Share -$0.21 -$0.45 -$736.5K
COMMON SHARES
Basic Shares Outstanding 225.3M shares 95.44M shares 77.12M shares
Diluted Shares Outstanding 192.9M shares 95.45M shares 76.67M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $328.9M $162.1M $222.2M
YoY Change 8.05% -27.02% -45.27%
Cash & Equivalents $82.61M $37.00M $94.32M
Short-Term Investments $246.3M $125.1M $127.8M
Other Short-Term Assets $12.60M $11.25M $10.52M
YoY Change 64.73% 6.93% -4.94%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $341.5M $173.4M $232.7M
YoY Change 9.44% -25.49% -44.2%
LONG-TERM ASSETS
Property, Plant & Equipment $1.941M $3.054M $11.91M
YoY Change -54.91% -74.35% 111.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $649.0K $770.0K $1.254M
YoY Change 3.18% -38.6% 17.2%
Total Long-Term Assets $6.435M $8.370M $13.16M
YoY Change -44.07% -36.41% -15.21%
TOTAL ASSETS
Total Short-Term Assets $341.5M $173.4M $232.7M
Total Long-Term Assets $6.435M $8.370M $13.16M
Total Assets $347.9M $181.7M $245.8M
YoY Change 7.54% -26.07% -43.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.251M $2.205M $3.908M
YoY Change 244.63% -43.58% 336.65%
Accrued Expenses $17.46M $14.26M $28.89M
YoY Change -44.63% -50.64% 81.9%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $11.61M $11.61M $11.61M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $42.32M $40.14M $44.41M
YoY Change -19.62% -9.61% 48.12%
LONG-TERM LIABILITIES
Long-Term Debt $3.634M $6.436M $212.9M
YoY Change -75.5% -96.98% 636.66%
Other Long-Term Liabilities $1.000M $1.826M $4.966M
YoY Change -76.26% -63.23% -19.45%
Total Long-Term Liabilities $3.634M $6.436M $217.9M
YoY Change -75.5% -97.05% 653.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.32M $40.14M $44.41M
Total Long-Term Liabilities $3.634M $6.436M $217.9M
Total Liabilities $243.3M $244.5M $262.3M
YoY Change -8.94% -6.77% 23.84%
SHAREHOLDERS EQUITY
Retained Earnings -$1.164B -$1.124B
YoY Change 19.19%
Common Stock $1.269B $1.062B
YoY Change 22.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $104.6M -$62.80M -$16.46M
YoY Change
Total Liabilities & Shareholders Equity $347.9M $181.7M $245.8M
YoY Change 7.54% -26.07% -43.16%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$40.01M -$42.50M -$56.47M
YoY Change -32.6% -24.74% -5.63%
Depreciation, Depletion And Amortization $400.0K $500.0K $460.0K
YoY Change -20.0% 8.7% 9.0%
Cash From Operating Activities -$34.49M -$38.25M -$48.82M
YoY Change -6.78% -21.65% 2.9%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$120.0K
YoY Change -100.0% -100.0% -14.29%
Acquisitions
YoY Change
Other Investing Activities -$118.3M $12.94M $4.799M
YoY Change 424.04% 169.56% -109.61%
Cash From Investing Activities -$118.3M $12.94M $4.679M
YoY Change 423.32% 176.47% -109.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 198.5M -2.904M 21.00K
YoY Change 66.5% -13928.57% -92.36%
NET CHANGE
Cash From Operating Activities -34.49M -38.25M -48.82M
Cash From Investing Activities -118.3M 12.94M 4.679M
Cash From Financing Activities 198.5M -2.904M 21.00K
Net Change In Cash 45.75M -28.22M -44.12M
YoY Change -23.27% -36.04% -54.63%
FREE CASH FLOW
Cash From Operating Activities -$34.49M -$38.25M -$48.82M
Capital Expenditures $0.00 $0.00 -$120.0K
Free Cash Flow -$34.49M -$38.25M -$48.70M
YoY Change -6.7% -21.46% 2.95%

Facts In Submission

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<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of expenses during the </span></div>reporting period. The most significant estimates in the Company’s condensed consolidated financial statements relate to accrued research and development expenses. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results could differ from those estimates.
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CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1400000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
17487165 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.24
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y1M6D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
47000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
11570739 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.30
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
9318846 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
11.33
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
19739058 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.59
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y4M24D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
19739058 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
3.59
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y4M24D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
1000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
8065502 shares
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
5.83
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y7M6D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
0 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8197000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9999000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16324000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20982000 usd
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.07
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
779000 usd
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
779000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1557000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1540000 usd
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
13000 usd
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
10000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
26000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
20000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
792000 usd
CY2022Q2 us-gaap Lease Cost
LeaseCost
789000 usd
us-gaap Lease Cost
LeaseCost
1583000 usd
us-gaap Lease Cost
LeaseCost
1560000 usd
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
800000 usd
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
800000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1900000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1900000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1662000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3419000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
144000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5225000 usd
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
259000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4966000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3140000 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1826000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4966000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
900000 usd
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
800000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1700000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1700000 usd

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