$GPCR
Structure Therapeutics Inc.

2024 Q3 Form 10-Q Financial Statement

#000155837024011616 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.24M $11.27M
YoY Change 53.4% 71.32%
% of Gross Profit
Research & Development $32.60M $22.05M
YoY Change 86.11% 13.6%
% of Gross Profit
Depreciation & Amortization $265.0K $232.0K
YoY Change 235.44% 213.51%
% of Gross Profit
Operating Expenses $45.84M $33.32M
YoY Change 75.31% 28.2%
Operating Profit -$45.84M -$33.32M
YoY Change 75.31% 28.2%
Interest Expense $11.95M $7.335M
YoY Change 344.61% 159.65%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$33.89M -$25.98M
YoY Change 44.46% 12.17%
Income Tax $92.00K $53.00K
% Of Pretax Income
Net Earnings -$33.98M -$26.03M
YoY Change 42.39% 11.83%
Net Earnings / Revenue
Basic Earnings Per Share -$0.20 -$0.18
Diluted Earnings Per Share -$0.20 -$0.18
COMMON SHARES
Basic Shares Outstanding 171.6M 139.9M
Diluted Shares Outstanding 171.6M 148.2M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $915.3M $927.1M
YoY Change 345.56% 312.81%
Cash & Equivalents $172.1M $381.6M
Short-Term Investments $743.2M $545.5M
Other Short-Term Assets $8.365M $10.50M
YoY Change 84.45% 188.91%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $923.7M $937.6M
YoY Change 339.92% 310.84%
LONG-TERM ASSETS
Property, Plant & Equipment $3.735M $3.315M
YoY Change 55.11% 207.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.822M $1.826M
YoY Change 420.57% 4705.26%
Total Long-Term Assets $9.566M $9.408M
YoY Change 49.21% 680.1%
TOTAL ASSETS
Total Short-Term Assets $923.7M $937.6M
Total Long-Term Assets $9.566M $9.408M
Total Assets $933.2M $947.0M
YoY Change 331.31% 312.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.447M $2.209M
YoY Change 154.5% -61.24%
Accrued Expenses $21.51M $17.10M
YoY Change 45.81% 120.03%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $33.43M $22.66M
YoY Change 66.41% 50.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $309.0K $293.0K
YoY Change 9.96%
Total Long-Term Liabilities $309.0K $293.0K
YoY Change 9.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.43M $22.66M
Total Long-Term Liabilities $309.0K $293.0K
Total Liabilities $36.42M $26.00M
YoY Change 55.58% 73.16%
SHAREHOLDERS EQUITY
Retained Earnings -$292.6M -$258.6M
YoY Change 60.71% 63.46%
Common Stock $17.00K $17.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $896.8M $921.0M
YoY Change
Total Liabilities & Shareholders Equity $933.2M $947.0M
YoY Change 331.31% 312.78%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$33.98M -$26.03M
YoY Change 42.39% 11.83%
Depreciation, Depletion And Amortization $265.0K $232.0K
YoY Change 235.44% 213.51%
Cash From Operating Activities -$19.70M -$26.39M
YoY Change -4.19% 56.23%
INVESTING ACTIVITIES
Capital Expenditures $685.0K $427.0K
YoY Change -16.46% 123.56%
Acquisitions
YoY Change
Other Investing Activities -$188.4M -$204.1M
YoY Change -708.61% 197.85%
Cash From Investing Activities -$189.0M -$204.5M
YoY Change -727.45% 197.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -757.0K 514.7M
YoY Change -260.04% -173400.67%
NET CHANGE
Cash From Operating Activities -19.70M -26.39M
Cash From Investing Activities -189.0M -204.5M
Cash From Financing Activities -757.0K 514.7M
Net Change In Cash -209.5M 283.8M
YoY Change -2185.58% -430.37%
FREE CASH FLOW
Cash From Operating Activities -$19.70M -$26.39M
Capital Expenditures $685.0K $427.0K
Free Cash Flow -$20.38M -$26.82M
YoY Change -4.66% 56.98%

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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Use Of Estimates
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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">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 disclosures of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of expenses during the reporting periods. Such estimates include lease liability, accruals for research and development activities, share-based compensation and certain other accrued liabilities. Actual results could differ from those estimates.</p>
us-gaap Concentration Risk Credit Risk
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<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Company is exposed to credit risk from its deposits of cash, cash equivalents and short-term investments in excess of the amount of insurance provided on such deposits. The Company invests its cash, cash equivalents and short-term investments in money market funds, corporate debt securities, U.S. government bonds and U.S. government agency bonds. The Company limits its credit risk associated with cash, cash equivalents and short-term investments by investing in investment-grade securities and using banks and institutions it believes are creditworthy. The Company has not experienced any losses on its deposits of cash, cash equivalents and short-term investments to date. The Company has no off-balance sheet concentrations of credit risk, such as foreign currency exchange contracts, option contracts or other hedging arrangements.</p>
CY2024Q2 us-gaap Deferred Costs
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us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
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CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
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CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
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CY2024Q2 gpcr Debt Securities Available For Sale Maturity Allocated And Single Maturity Date Rolling After One Through Two Years Fair Value
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gpcr Impairment Of Marketable Securities
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CY2023Q2 gpcr Impairment Of Marketable Securities
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gpcr Impairment Of Marketable Securities
ImpairmentOfMarketableSecurities
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CY2024Q2 gpcr Impairment Of Marketable Securities
ImpairmentOfMarketableSecurities
0
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11800
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500000
CY2023Q2 gpcr Sub Lease Percentage Of Increase To Annual Base Rent
SubLeasePercentageOfIncreaseToAnnualBaseRent
0.03
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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958000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
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5160000
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486000
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4674000
CY2024Q2 us-gaap Operating Lease Liability Current
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1629000
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3045000
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CY2023Q2 us-gaap Operating Lease Cost
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200000
CY2023Q2 us-gaap Short Term Lease Cost
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200000
us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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400000
us-gaap Short Term Lease Cost
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400000
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P2Y8M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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us-gaap Operating Lease Payments
OperatingLeasePayments
800000
us-gaap Operating Lease Payments
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200000
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67018087
CY2023Q1 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
1
CY2024Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
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0
CY2023Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
0
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
90187562
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2023 us-gaap Dividends Common Stock
DividendsCommonStock
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
8192000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
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5569000
gpcr Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantGranted
3779000
gpcr Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant Forfeited
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrantForfeited
1258000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
11240000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.94
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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117093000
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2835000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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1258000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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5.21
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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12414000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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6.07
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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91104000
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
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CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
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CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2024Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2023Q2 gpcr Weighted Average Number Of Shares Outstanding
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gpcr Weighted Average Number Of Shares Outstanding
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143975000
gpcr Weighted Average Number Of Shares Outstanding
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gpcr Weighted Average Unvested Restricted Ordinary Shares Subject To Repurchase
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q2 us-gaap Earnings Per Share Basic
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CY2023Q2 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Diluted
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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12042000
CY2024Q2 us-gaap Other Liabilities
OtherLiabilities
0
CY2023Q4 us-gaap Other Liabilities
OtherLiabilities
500000

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