$KRON
Kronos Bio, Inc.

2021 Q4 Form 10-Q Financial Statement

#000174183021000045 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.35M $9.752M $5.450M
YoY Change 31.55% 78.94% 581.25%
% of Gross Profit
Research & Development $50.05M $24.69M $16.76M
YoY Change 327.8% 47.35% 375.18%
% of Gross Profit
Depreciation & Amortization $546.0K $500.0K $200.0K
YoY Change -31.75% 150.0% 100.0%
% of Gross Profit
Operating Expenses $62.41M $33.67M $20.81M
YoY Change 195.9% 61.82% 381.36%
Operating Profit -$33.67M -$20.81M
YoY Change 61.82% 381.36%
Interest Expense $72.00K $0.00 $3.889M
YoY Change -100.6% -100.0% 388800.0%
% of Operating Profit
Other Income/Expense, Net $70.00K -$18.90M
YoY Change -100.37% -6198.06%
Pretax Income -$62.33M -$33.60M -$39.71M
YoY Change 87.98% -15.38% 890.27%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$62.33M -$33.60M -$39.71M
YoY Change -29.52% -15.39% 889.61%
Net Earnings / Revenue
Basic Earnings Per Share -$0.61
Diluted Earnings Per Share -$1.126M -$611.2K -$3.017M
COMMON SHARES
Basic Shares Outstanding 56.35M shares 56.25M shares
Diluted Shares Outstanding 54.98M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $339.5M $398.4M $211.3M
YoY Change -17.81% 88.54%
Cash & Equivalents $198.3M $217.0M $156.2M
Short-Term Investments $141.2M $181.4M $55.10M
Other Short-Term Assets $7.229M $3.397M $1.400M
YoY Change 18.51% 142.64%
Inventory
Prepaid Expenses
Receivables $816.0K $1.048M $200.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $347.6M $402.8M $212.9M
YoY Change -17.21% 89.22%
LONG-TERM ASSETS
Property, Plant & Equipment $41.78M $42.56M $39.70M
YoY Change 1.91% 7.21%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00 $4.800M
YoY Change -100.0% -100.0%
Other Assets $112.0K $112.0K $3.207M
YoY Change -32.53% -96.51%
Total Long-Term Assets $43.92M $44.70M $49.66M
YoY Change -52.34% -9.99%
TOTAL ASSETS
Total Short-Term Assets $347.6M $402.8M $212.9M
Total Long-Term Assets $43.92M $44.70M $49.66M
Total Assets $391.5M $447.5M $262.6M
YoY Change -23.53% 70.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $998.0K $3.940M $4.443M
YoY Change -78.07% -11.32%
Accrued Expenses $9.063M $7.350M $1.780M
YoY Change 82.21% 312.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $173.9M
YoY Change -100.0%
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change
Total Short-Term Liabilities $13.63M $14.77M $183.6M
YoY Change 5.99% -91.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.100M $1.406M $2.841M
YoY Change -55.45% -50.51%
Total Long-Term Liabilities $1.100M $1.406M $2.841M
YoY Change -55.45% -50.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.63M $14.77M $183.6M
Total Long-Term Liabilities $1.100M $1.406M $2.841M
Total Liabilities $46.38M $48.51M $215.9M
YoY Change -0.14% -77.54%
SHAREHOLDERS EQUITY
Retained Earnings -$263.0M -$200.7M -$78.75M
YoY Change 135.0% 154.8%
Common Stock $56.00K $55.00K $6.000K
YoY Change 3.7% 816.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $345.1M $399.0M -$76.28M
YoY Change
Total Liabilities & Shareholders Equity $391.5M $447.5M $262.6M
YoY Change -23.53% 70.45%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$62.33M -$33.60M -$39.71M
YoY Change -29.52% -15.39% 889.61%
Depreciation, Depletion And Amortization $546.0K $500.0K $200.0K
YoY Change -31.75% 150.0% 100.0%
Cash From Operating Activities -$58.52M -$20.14M -$10.28M
YoY Change 274.42% 95.91% 194.56%
INVESTING ACTIVITIES
Capital Expenditures -$478.0K -$926.0K -$4.170M
YoY Change -87.01% -77.79% 185.62%
Acquisitions
YoY Change
Other Investing Activities $39.23M $51.02M -$16.61M
YoY Change -125.29% -407.16%
Cash From Investing Activities $38.75M $50.09M -$20.78M
YoY Change -124.41% -341.07% 1323.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.050M 1.381M 149.3M
YoY Change -99.61% -99.07% 197.51%
NET CHANGE
Cash From Operating Activities -58.52M -20.14M -10.28M
Cash From Investing Activities 38.75M 50.09M -20.78M
Cash From Financing Activities 1.050M 1.381M 149.3M
Net Change In Cash -18.72M 31.34M 118.2M
YoY Change -120.39% -73.5% 161.4%
FREE CASH FLOW
Cash From Operating Activities -$58.52M -$20.14M -$10.28M
Capital Expenditures -$478.0K -$926.0K -$4.170M
Free Cash Flow -$58.04M -$19.21M -$6.110M
YoY Change 385.72% 214.47% 200.99%

Facts In Submission

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CY2020Q2 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
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CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
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1253000 USD
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OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-117000 USD
CY2020Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
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CY2020Q3 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
122907000 USD
CY2020Q3 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Depreciation Depletion And Amortization
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1431000 USD
us-gaap Depreciation Depletion And Amortization
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539000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
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-3175000 USD
us-gaap Accretion Amortization Of Discounts And Premiums Investments
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-105000 USD
us-gaap Unrealized Gain Loss On Investments
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us-gaap Unrealized Gain Loss On Investments
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us-gaap Share Based Compensation
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kron Increase Decrease In Right Of Use Operating Assets And Liabilities Net
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us-gaap Share Based Compensation
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1734000 USD
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1487000 USD
kron Lease Expense Noncash
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1994000 USD
us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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us-gaap Amortization Of Financing Costs
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us-gaap Amortization Of Financing Costs
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3889000 USD
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0 USD
us-gaap Research And Development In Process
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3565000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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493000 USD
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us-gaap Increase Decrease In Other Noncurrent Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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3288000 USD
us-gaap Increase Decrease In Accrued Liabilities
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879000 USD
kron Increase Decrease In Right Of Use Operating Assets And Liabilities Net
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588000 USD
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us-gaap Increase Decrease In Other Noncurrent Liabilities
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4816000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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17032000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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0 USD
us-gaap Net Cash Provided By Used In Investing Activities
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24975000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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5000 USD
us-gaap Finance Lease Principal Payments
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us-gaap Proceeds From Stock Options Exercised
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2598000 USD
us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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817000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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us-gaap Proceeds From Convertible Debt
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us-gaap Proceeds From Convertible Debt
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us-gaap Payments Of Stock Issuance Costs
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2248000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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3410000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
219019000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
158222000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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408000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
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1325000 USD
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kron Right Of Use Asset Increase Decrease Due To Modification
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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kron Deferred Offering Costs Included In Accounts Payable And Accrued Expenses
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kron Deferred Offering Costs Included In Accounts Payable And Accrued Expenses
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682000 USD
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
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2026000 USD
CY2020Q3 us-gaap Restricted Cash Noncurrent
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2026000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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219019000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
158222000 USD
us-gaap Number Of Operating Segments
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us-gaap Use Of Estimates
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<div style="margin-bottom:9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-bottom:9pt;text-indent:18pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 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 financial statements include, but are not </span></div>limited to, the accrual of research and development expenses, the fair value of convertible notes and investments, income tax uncertainties, the valuation of equity instruments and the incremental borrowing rate for determining the operating lease assets and liabilities. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company’s estimates.
CY2021Q3 kron Cash And Cash Equivalent And Debt Securities Available For Sale Amortized Cost
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CashAndCashEquivalentAndDebtSecuritiesAvailableForSaleGrossUnrealizedGainBeforeTax
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450890000 USD
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18000 USD
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CY2020Q4 kron Cash And Cash Equivalent And Debt Securities Available For Sale
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CY2020Q4 us-gaap Long Term Investments
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CY2020Q4 us-gaap Investments And Cash
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CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
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49001000 USD
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us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale
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CY2021Q3 kron Debt Securities Available For Sale Accrued Interest
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CY2020Q4 kron Debt Securities Available For Sale Accrued Interest
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CY2021Q3 kron Prepaid Equipment Service Contracts
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CY2020Q4 kron Prepaid Equipment Service Contracts
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383000 USD
CY2021Q3 kron Prepaid External Research And Development And Outside Services
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1184000 USD
CY2020Q4 kron Prepaid External Research And Development And Outside Services
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1889000 USD
CY2021Q3 kron Prepaid Software
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CY2020Q4 kron Prepaid Software
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CY2021Q3 us-gaap Prepaid Insurance
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CY2021Q3 us-gaap Prepaid Rent
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CY2020Q4 us-gaap Prepaid Rent
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CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
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CY2021Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
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17844000 USD
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CY2021Q3 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
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500000 USD
CY2020Q3 us-gaap Depreciation Depletion And Amortization
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200000 USD
us-gaap Depreciation Depletion And Amortization
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1400000 USD
us-gaap Depreciation Depletion And Amortization
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500000 USD
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558000 USD
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CY2021Q3 kron Accrued Leasehold Improvements Current
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CY2020Q4 us-gaap Deferred Compensation Share Based Arrangements Liability Current
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CY2020Q4 kron Espp Withholdings Liability Current
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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13.74
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13.91
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y9M29D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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67390000 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
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12748 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
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0.61
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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18.91
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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54000000 USD
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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36300000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
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CY2020Q3 us-gaap Allocated Share Based Compensation Expense
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1254000 USD
us-gaap Allocated Share Based Compensation Expense
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18807000 USD
us-gaap Allocated Share Based Compensation Expense
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1734000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Operating Lease Payments
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3300000 USD
CY2021Q3 us-gaap Income Tax Expense Benefit
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0 USD
CY2021Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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6127146 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
54549747 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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5886191 shares
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
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CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
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us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.63
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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us-gaap Operating Lease Payments
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1300000 USD
CY2021Q3 us-gaap Operating Lease Payments
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1000000 USD
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
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32326000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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7889688 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
39129352 shares
CY2020Q3 kron Royalty Obligation Termination Period From First Commercial Sale
RoyaltyObligationTerminationPeriodFromFirstCommercialSale
P10Y
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
27433000 USD
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
27322000 USD
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1728000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
937000 USD
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
31120000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
34054000 USD
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
32057000 USD
CY2021Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
CY2020Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1000 USD
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
0 USD
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
5000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
16000 USD
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1023000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1785000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3787000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3733000 USD
CY2020Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
700000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1044000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5020000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5581000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5749000 USD
CY2021Q3 kron Lessee Operating Lease Liability To Be Paid Year Four And Thereafter
LesseeOperatingLeaseLiabilityToBePaidYearFourAndThereafter
32849000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
50243000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
16189000 USD
CY2021Q3 us-gaap Tenant Improvements
TenantImprovements
0 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
34054000 USD

Files In Submission

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0001741830-21-000045.txt Edgar Link pending
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kron-20210930.htm Edgar Link pending
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