2022 Q3 Form 10-Q Financial Statement

#000095017022016897 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.067M $4.977M $4.934M
YoY Change 27.57% 35.69% 31.22%
% of Gross Profit
Research & Development $13.86M $11.35M $10.94M
YoY Change 31.66% 21.46% 17.85%
% of Gross Profit
Depreciation & Amortization $300.0K $200.0K $417.0K
YoY Change -20.63% -33.33% 12.1%
% of Gross Profit
Operating Expenses $18.93M $16.32M $15.88M
YoY Change 30.54% 25.47% 21.69%
Operating Profit -$18.93M -$16.32M -$15.88M
YoY Change 30.54% 25.47% 21.69%
Interest Expense $310.0K $272.0K $254.0K
YoY Change 737.84% 370.37%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$17.85M -$16.19M -$16.02M
YoY Change 23.41% 24.88% 23.36%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$17.85M -$16.19M -$16.02M
YoY Change 23.41% 24.88% 23.32%
Net Earnings / Revenue
Basic Earnings Per Share -$0.25 -$0.25 -$0.26
Diluted Earnings Per Share -$0.25 -$0.25 -$264.3K
COMMON SHARES
Basic Shares Outstanding 68.37M 64.28M 56.71M
Diluted Shares Outstanding 72.15M 64.28M 60.63M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.4M $306.8M $242.6M
YoY Change 140.46% 137.91% 70.49%
Cash & Equivalents $64.45M $105.4M $38.91M
Short-Term Investments $225.9M $201.5M $203.7M
Other Short-Term Assets $818.0K $685.0K $1.056M
YoY Change -79.52% -84.33% -68.94%
Inventory
Prepaid Expenses $7.726M $3.805M $2.331M
Receivables
Other Receivables
Total Short-Term Assets $298.9M $311.3M $246.0M
YoY Change 139.62% 133.47% 68.84%
LONG-TERM ASSETS
Property, Plant & Equipment $3.369M $3.518M $3.041M
YoY Change -42.45% 16.61% -5.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $282.0K $282.0K $282.0K
YoY Change 0.0% 0.0% -6.0%
Total Long-Term Assets $5.843M $6.174M $5.870M
YoY Change -4.78% -2.4% -11.06%
TOTAL ASSETS
Total Short-Term Assets $298.9M $311.3M $246.0M
Total Long-Term Assets $5.843M $6.174M $5.870M
Total Assets $304.8M $317.5M $251.9M
YoY Change 132.85% 127.32% 65.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.274M $1.922M $1.359M
YoY Change 47.38% 17.7% -62.25%
Accrued Expenses $5.992M $4.646M $4.378M
YoY Change -5.32% 45.83% 51.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.595M $7.853M $6.978M
YoY Change 21.89% 32.12% -8.18%
LONG-TERM LIABILITIES
Long-Term Debt $9.780M $9.728M $9.675M
YoY Change
Other Long-Term Liabilities $2.207M $2.557M $2.898M
YoY Change -37.58% -33.45% -29.32%
Total Long-Term Liabilities $9.780M $9.728M $9.675M
YoY Change 176.58% 153.2% 135.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.595M $7.853M $6.978M
Total Long-Term Liabilities $9.780M $9.728M $9.675M
Total Liabilities $21.58M $20.14M $19.55M
YoY Change 89.18% 105.78% 67.1%
SHAREHOLDERS EQUITY
Retained Earnings -$230.7M -$212.9M -$196.7M
YoY Change 38.64% 40.07% 41.51%
Common Stock $515.4M $511.4M $429.8M
YoY Change 80.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $283.2M $297.4M $232.3M
YoY Change
Total Liabilities & Shareholders Equity $304.8M $317.5M $251.9M
YoY Change 132.85% 127.32% 65.37%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$17.85M -$16.19M -$16.02M
YoY Change 23.41% 24.88% 23.32%
Depreciation, Depletion And Amortization $300.0K $200.0K $417.0K
YoY Change -20.63% -33.33% 12.1%
Cash From Operating Activities -$16.36M -$13.29M -$13.31M
YoY Change 64.36% 1.89% 59.32%
INVESTING ACTIVITIES
Capital Expenditures -$603.0K -$182.0K $450.0K
YoY Change 2219.23% 658.33%
Acquisitions
YoY Change
Other Investing Activities -$24.10M $1.692M -$59.08M
YoY Change -162.59% -89.6% 8462.75%
Cash From Investing Activities -$24.71M $1.510M -$59.53M
YoY Change -164.2% -90.71% 8565.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 185.0K 78.32M 48.85M
YoY Change -91.64% 28175.09% 355.03%
NET CHANGE
Cash From Operating Activities -16.36M -13.29M -13.31M
Cash From Investing Activities -24.71M 1.510M -59.53M
Cash From Financing Activities 185.0K 78.32M 48.85M
Net Change In Cash -40.88M 66.54M -23.97M
YoY Change -232.99% 1807.77% -1527.02%
FREE CASH FLOW
Cash From Operating Activities -$16.36M -$13.29M -$13.31M
Capital Expenditures -$603.0K -$182.0K $450.0K
Free Cash Flow -$15.76M -$13.11M -$13.76M
YoY Change 58.71% 0.68% 64.7%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant items subject to such estimates and assumptions include the stock-based compensation, and accrued research and development costs. Management bases its estimates on historical experience and on various other market-specific relevant assumptions that management believes to be reasonable under the circumstances. Actual results may differ from those estimates.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company anticipates that the ongoing COVID-19 pandemic, recent geopolitical events and supply-chain concerns could have an impact on our clinical development timelines. Estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require the exercise of judgment. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, assumptions and judgments or revise the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained and are recognized in the consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s consolidated financial statements.</span></p>
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CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9248262
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9248262
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7314814
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7314814

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