$LUMO
Lumos Pharma Inc

2014 Q4 Form 10-Q Financial Statement

#000112623414000181 Filed on November 10, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q4
Revenue $169.2M $2.801M $294.0K
YoY Change 57466.33% 956.98% -1.67%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.300M $4.900M $3.000M
YoY Change 176.67% 113.04% 42.86%
% of Gross Profit
Research & Development $11.90M $10.90M $5.200M
YoY Change 128.85% 77.89% 15.56%
% of Gross Profit
Depreciation & Amortization $300.0K $300.0K $300.0K
YoY Change 0.0% 50.0% 50.0%
% of Gross Profit
Operating Expenses $20.20M $15.83M $8.200M
YoY Change 146.34% 88.82% 24.24%
Operating Profit $149.0M -$13.03M -$7.913M
YoY Change -1983.36% 60.48% 25.74%
Interest Expense $0.00 $0.00 $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $0.00 $15.00K $0.00
YoY Change -350.0%
Pretax Income $149.0M -$13.01M -$7.900M
YoY Change -1986.08% 60.17% 25.4%
Income Tax $29.00M -$7.413M $100.0K
% Of Pretax Income 19.46%
Net Earnings $120.0M -$5.598M -$8.046M
YoY Change -1591.6% -31.08% 27.33%
Net Earnings / Revenue 70.91% -199.86% -2736.73%
Basic Earnings Per Share $4.29 -$0.20 -$0.31
Diluted Earnings Per Share $3.83 -$0.20 -$0.31
COMMON SHARES
Basic Shares Outstanding 27.96M shares 27.91M shares 25.71M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $202.8M $67.70M $61.50M
YoY Change 229.76% 30.19% 183.41%
Cash & Equivalents $190.4M $51.07M $61.29M
Short-Term Investments $12.40M $16.60M $200.0K
Other Short-Term Assets $8.300M $400.0K $800.0K
YoY Change 937.5% 0.0% -11.11%
Inventory
Prepaid Expenses $8.333M $353.0K $773.0K
Receivables
Other Receivables
Total Short-Term Assets $223.6M $78.76M $63.97M
YoY Change 249.57% 45.45% 173.5%
LONG-TERM ASSETS
Property, Plant & Equipment $7.599M $7.117M $6.587M
YoY Change 15.36% 5.62% 9.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $7.599M $7.117M $6.587M
YoY Change 15.36% 5.62% 9.06%
TOTAL ASSETS
Total Short-Term Assets $223.6M $78.76M $63.97M
Total Long-Term Assets $7.599M $7.117M $6.587M
Total Assets $231.2M $85.88M $70.56M
YoY Change 227.71% 41.04% 139.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.412M $2.935M $612.0K
YoY Change 294.12% 201.64% -37.04%
Accrued Expenses $9.367M $4.026M $2.861M
YoY Change 227.4% 4.06% 72.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $157.0K $193.0K $154.0K
YoY Change 1.95% 2.66% 3.36%
Total Short-Term Liabilities $25.02M $7.238M $3.876M
YoY Change 545.54% 41.53% 32.79%
LONG-TERM LIABILITIES
Long-Term Debt $941.0K $989.0K $1.033M
YoY Change -8.91% -8.51% -12.31%
Other Long-Term Liabilities $8.300M $7.300M $7.300M
YoY Change 13.7% 0.0% -1.35%
Total Long-Term Liabilities $9.264M $8.248M $8.354M
YoY Change 10.89% -2.08% -2.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.02M $7.238M $3.876M
Total Long-Term Liabilities $9.264M $8.248M $8.354M
Total Liabilities $34.29M $15.49M $12.23M
YoY Change 180.34% 14.4% 6.33%
SHAREHOLDERS EQUITY
Retained Earnings -$39.96M -$160.0M -$136.0M
YoY Change -70.61%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $222.0K $222.0K $0.00
YoY Change
Treasury Stock Shares 10.39K shares
Shareholders Equity $196.9M $70.40M $58.30M
YoY Change
Total Liabilities & Shareholders Equity $231.2M $85.88M $70.56M
YoY Change 227.71% 41.04% 139.75%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q4
OPERATING ACTIVITIES
Net Income $120.0M -$5.598M -$8.046M
YoY Change -1591.6% -31.08% 27.33%
Depreciation, Depletion And Amortization $300.0K $300.0K $300.0K
YoY Change 0.0% 50.0% 50.0%
Cash From Operating Activities $130.7M -$8.500M -$8.000M
YoY Change -1733.75% 34.92% 19.4%
INVESTING ACTIVITIES
Capital Expenditures -$400.0K -$1.000M -$100.0K
YoY Change 300.0% 0.0% -50.0%
Acquisitions
YoY Change
Other Investing Activities $4.300M -$16.40M -$300.0K
YoY Change -1533.33% -5566.67% -125.0%
Cash From Investing Activities $3.900M -$17.40M -$300.0K
YoY Change -1400.0% 2075.0% -130.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.800M 100.0K 17.70M
YoY Change -72.88% 5800.0%
NET CHANGE
Cash From Operating Activities 130.7M -8.500M -8.000M
Cash From Investing Activities 3.900M -17.40M -300.0K
Cash From Financing Activities 4.800M 100.0K 17.70M
Net Change In Cash 139.4M -25.80M 9.400M
YoY Change 1382.98% 263.38% -274.07%
FREE CASH FLOW
Cash From Operating Activities $130.7M -$8.500M -$8.000M
Capital Expenditures -$400.0K -$1.000M -$100.0K
Free Cash Flow $131.1M -$7.500M -$7.900M
YoY Change -1759.49% 41.51% 21.54%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2014Q3 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
2720000 USD
CY2013Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
1328000 USD
CY2014Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
2935000 USD
CY2013Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
612000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
143000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2324000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-130000 USD
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
0 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2147000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1103000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
7502000 USD
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
0 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
1027000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-420000 USD
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-502000 USD
CY2014Q3 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
0 USD
CY2013Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
130000 USD
CY2014Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4672000 USD
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3858000 USD
CY2013Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2861000 USD
CY2014Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4026000 USD
CY2013Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
194038000 USD
CY2014Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
230308000 USD
CY2013Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1100000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3100000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6900000 USD
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3300000 USD
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4900000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4500000 shares
CY2013Q4 us-gaap Assets
Assets
70557000 USD
CY2014Q3 us-gaap Assets
Assets
85877000 USD
CY2013Q4 us-gaap Assets Current
AssetsCurrent
63970000 USD
CY2014Q3 us-gaap Assets Current
AssetsCurrent
78760000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
145000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
20250000 USD
CY2014Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
51070000 USD
CY2013Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61291000 USD
CY2013Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
51964000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-10221000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
31714000 USD
CY2013Q4 us-gaap Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
249000 USD
CY2014Q3 us-gaap Certificates Of Deposit At Carrying Value
CertificatesOfDepositAtCarryingValue
16636000 USD
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2014Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
27940267 shares
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
26573023 shares
CY2014Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
27929874 shares
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
26573023 shares
CY2014Q3 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
279000 USD
CY2013Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
266000 USD
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
900000 USD
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and certificates of deposit. Cash and cash equivalents are held by financial institutions and are federally insured up to certain limits. At times, the Company&#8217;s cash and cash equivalents balance exceeds the federally insured limits. To limit the credit risk, the Company invests its excess cash primarily in high quality cash equivalents, such as money market funds, or certificates of deposit</font></div></div>
CY2014Q3 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
84000 USD
CY2013Q4 us-gaap Deferred Rent Credit Current
DeferredRentCreditCurrent
84000 USD
CY2013Q4 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
1321000 USD
CY2014Q3 us-gaap Deferred Rent Credit Noncurrent
DeferredRentCreditNoncurrent
1259000 USD
CY2014Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
26100000 USD
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
25200000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
635000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
814000 USD
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.86
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.20
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.92
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.32
CY2014Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
782000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1600000 USD
CY2013Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
0 USD
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
54000 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
0 USD
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
-1494000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6522000 USD
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4931000 USD
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11044000 USD
CY2013Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2257000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-13011000 USD
CY2013Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-8123000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-23134000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7413000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7413000 USD
CY2013Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-31410000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2014Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
7502000 USD
CY2013Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
0 USD
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
1392000 USD
CY2014Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
5000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
18000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
26000 USD
CY2013Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
8000 USD
us-gaap Interest Paid
InterestPaid
18000 USD
us-gaap Interest Paid
InterestPaid
25000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
65000 USD
CY2013Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
2000 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
6000 USD
CY2014Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
20000 USD
CY2013Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
5588000 USD
CY2014Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
5581000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
12230000 USD
CY2014Q3 us-gaap Liabilities
Liabilities
15486000 USD
CY2013Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
70557000 USD
CY2014Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
85877000 USD
CY2013Q4 us-gaap Liabilities Current
LiabilitiesCurrent
3876000 USD
CY2014Q3 us-gaap Liabilities Current
LiabilitiesCurrent
7238000 USD
CY2013Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
8354000 USD
CY2014Q3 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
8248000 USD
CY2013Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
189000 USD
CY2014Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
193000 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1033000 USD
CY2014Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
989000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">D</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;font-weight:bold;">escription of Business</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On June&#160;4, 1999, NewLink Genetics Corporation (NewLink) was incorporated as a Delaware corporation. NewLink was formed for the purpose of developing treatments for cancer and other diseases. NewLink initiated operations in April of 2000, which primarily consist of research and development.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2005, NewLink created a wholly-owned subsidiary, BioProtection Systems Corporation (BPS). NewLink contributed certain licensing agreements and other intangible assets for BPS to create vaccines against potential biological terror threats. Subsequent to its creation, certain interests in BPS were sold to minority stockholders. On January&#160;7, 2011, NewLink acquired all of the minority interest in BPS, by merging a newly-formed subsidiary of NewLink with BPS, with BPS as the surviving corporation resulting in NewLink owning all the outstanding capital stock of BPS. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In 2013, NewLink created a wholly-owned subsidiary, NewLink International (NI). In 2014, NewLink created another wholly-owned subsidiary, NewLink Global (NG). NewLink plans to conduct all or a portion of its operations outside of the United States through NI and NG.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NewLink and its subsidiaries (the Company) are devoting substantially all of their efforts toward research and development. The Company has never earned revenue from sales of its drugs. The Company incurred a net loss of </font><font style="font-family:inherit;font-size:10pt;">$5.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$24.0 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">three</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;">nine months ending</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2014</font><font style="font-family:inherit;font-size:10pt;">. The Company has managed its liquidity needs to date through a series of capital market transactions. On February 4, 2013, the Company completed an offering of its common stock. The Company sold </font><font style="font-family:inherit;font-size:10pt;">4,600,000</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock at a price of </font><font style="font-family:inherit;font-size:10pt;">$11.40</font><font style="font-family:inherit;font-size:10pt;"> per share raising a total of </font><font style="font-family:inherit;font-size:10pt;">$49.0 million</font><font style="font-family:inherit;font-size:10pt;"> in net proceeds.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NewLink entered into a sales agreement with Cantor Fitzgerald &amp; Co., dated as of September 5, 2013, under which NewLink may sell up to </font><font style="font-family:inherit;font-size:10pt;">$60.0 million</font><font style="font-family:inherit;font-size:10pt;"> in shares of its common stock in one or more placements at prevailing market prices for its common stock (the ATM Offering). Any such sales would be effected pursuant to its registration statement on Form S-3 (333-185721), declared effective by the SEC on January 4, 2013. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> the Company had sold </font><font style="font-family:inherit;font-size:10pt;">1,833,838</font><font style="font-family:inherit;font-size:10pt;"> shares of common stock under the ATM Offering, raising a total of </font><font style="font-family:inherit;font-size:10pt;">$45.0 million</font><font style="font-family:inherit;font-size:10pt;"> in net proceeds. During the years ended December 31, 2013 and 2012, the Company received equity financing of </font><font style="font-family:inherit;font-size:10pt;">$67.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.3 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, through common stock offerings. Subsequent to </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> and through the date of this filing, the Company sold no additional shares of common stock under the ATM Offering.</font></div><div style="line-height:120%;padding-top:4px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying financial statements as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2014</font><font style="font-family:inherit;font-size:10pt;"> and for the three and </font><font style="font-family:inherit;font-size:10pt;">nine months then ended</font><font style="font-family:inherit;font-size:10pt;"> have been prepared assuming the Company will continue as a going concern. The Company successfully raised net proceeds of </font><font style="font-family:inherit;font-size:10pt;">$37.6 million</font><font style="font-family:inherit;font-size:10pt;"> from its initial public offering in 2011, completed a follow-on offering of its common stock raising net proceeds of </font><font style="font-family:inherit;font-size:10pt;">$49.0 million</font><font style="font-family:inherit;font-size:10pt;">, and raised an additional </font><font style="font-family:inherit;font-size:10pt;">$45.0 million</font><font style="font-family:inherit;font-size:10pt;"> in net proceeds from the ATM Offering prior to </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2014</font><font style="font-family:inherit;font-size:10pt;">. The Company's cash and cash equivalents and current certificates of deposit after these offerings are expected to be adequate to satisfy the Company's liquidity requirements well into 2015, although not through commercialization and launch of revenue producing products. If available liquidity becomes insufficient to meet the Company&#8217;s operating obligations as they come due, the Company's plans include pursuing alternative funding arrangements and/or reducing expenditures as necessary to meet the Company&#8217;s cash requirements. However, there is no assurance that, if required, the Company will be able to raise additional capital or reduce discretionary spending to provide the required liquidity. Failure by the Company to successfully execute its plans or otherwise address its liquidity needs may have a material adverse effect on its business and financial position, and may materially affect the Company&#8217;s ability to continue as a going concern.</font></div></div>
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
49256000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
29119000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-17731000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
214000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-17756000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-21609000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-23997000 USD
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-5598000 USD
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-23134000 USD
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-8123000 USD
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
15827000 USD
us-gaap Operating Expenses
OperatingExpenses
34804000 USD
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
8382000 USD
us-gaap Operating Expenses
OperatingExpenses
24027000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-23228000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-13026000 USD
CY2013Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-8117000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-31457000 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
114000 USD
CY2014Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 USD
CY2013Q3 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 USD
us-gaap Other Nonoperating Income
OtherNonoperatingIncome
0 USD
CY2013Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
47000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
94000 USD
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
15000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
222000 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
0 USD
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
16387000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1280000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1344000 USD
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0.00 shares
CY2014Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0.00 shares
CY2014Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q3 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2013Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2014Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
353000 USD
CY2013Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
773000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
49423000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
29382000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
97000 USD
us-gaap Profit Loss
ProfitLoss
-23134000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
-5598000 USD
us-gaap Profit Loss
ProfitLoss
-23997000 USD
CY2013Q3 us-gaap Profit Loss
ProfitLoss
-8123000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1133000 USD
CY2014Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1311000 USD
CY2014Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7117000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6587000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
56000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
23000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
111000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
115000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23760000 USD
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10896000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
17505000 USD
CY2013Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6125000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-135977000 USD
CY2014Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-159974000 USD
us-gaap Revenue From Grants
RevenueFromGrants
799000 USD
CY2013Q3 us-gaap Revenue From Grants
RevenueFromGrants
265000 USD
CY2014Q3 us-gaap Revenue From Grants
RevenueFromGrants
2801000 USD
us-gaap Revenue From Grants
RevenueFromGrants
3347000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3134000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
6901000 USD
us-gaap Stock Issued During Period Shares Employee Stock Ownership Plan
StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan
12810 shares
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
1017217 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
337217 shares
us-gaap Stock Issued During Period Value Employee Stock Ownership Plan
StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan
233000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
27559000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6901000 USD
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1590000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
10393 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
222000 USD
CY2014Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
70391000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
58327000 USD
CY2014Q3 us-gaap Treasury Stock Value
TreasuryStockValue
222000 USD
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
0 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of consolidated financial statements in conformity with U.S.&#160;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 consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div></div>
us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
5700000 USD
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27800246 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25067772 shares
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
25702043 shares
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27914782 shares
CY2014Q3 nlnk Additional Share Based Compensation
AdditionalShareBasedCompensation
1700000 USD
CY2014Q3 nlnk Cash And Cash Equivalents Excluding Certificates Of Deposit
CashAndCashEquivalentsExcludingCertificatesOfDeposit
51070000 USD
CY2013Q4 nlnk Cash And Cash Equivalents Excluding Certificates Of Deposit
CashAndCashEquivalentsExcludingCertificatesOfDeposit
61291000 USD
CY2014Q3 nlnk Dtra Initial Billing Percentage
DTRAInitialBillingPercentage
0.85
CY2014Q3 nlnk Dtra Remaining Billing Percentage
DTRARemainingBillingPercentage
0.15
CY2013 nlnk Financing Received
FinancingReceived
67200000 USD
CY2012 nlnk Financing Received
FinancingReceived
1300000 USD
CY2014Q3 nlnk Genentech Potential Milestones
GenentechPotentialMilestones
1000000000 USD
CY2014Q3 nlnk Genentech Upfront Payment
GenentechUpfrontPayment
150000000 USD
nlnk Increase Decrease In State Research And Development Credit Receivable
IncreaseDecreaseInStateResearchAndDevelopmentCreditReceivable
15000 USD
nlnk Increase Decrease In State Research And Development Credit Receivable
IncreaseDecreaseInStateResearchAndDevelopmentCreditReceivable
150000 USD
CY2013Q4 nlnk Lab Equipment
LabEquipment
3724000 USD
CY2014Q3 nlnk Lab Equipment
LabEquipment
4897000 USD
CY2014Q3 nlnk Letter Contract Amount
LetterContractAmount
1000000 USD
CY2014Q3 nlnk Letter Contract Amount Increase
LetterContractAmountIncrease
1900000 USD
CY2014Q3 nlnk Letter Contract Amount Revised
LetterContractAmountRevised
2900000 USD
CY2014Q3 nlnk Letter Contractand Other Commitments
LetterContractandOtherCommitments
8400000 USD
CY2014Q3 nlnk Royalty Obligation Payable Noncurrent
RoyaltyObligationPayableNoncurrent
6000000 USD
CY2013Q4 nlnk Royalty Obligation Payable Noncurrent
RoyaltyObligationPayableNoncurrent
6000000 USD
CY2014Q3 nlnk State Research And Development Credit Receivable
StateResearchAndDevelopmentCreditReceivable
479000 USD
CY2013Q4 nlnk State Research And Development Credit Receivable
StateResearchAndDevelopmentCreditReceivable
329000 USD
CY2013Q4 nlnk Total Leasehold Improvements And Equipment
TotalLeaseholdImprovementsAndEquipment
10445000 USD
CY2014Q3 nlnk Total Leasehold Improvements And Equipment
TotalLeaseholdImprovementsAndEquipment
11789000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2014-09-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001126234
CY2014Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
27959553 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
NEWLINK GENETICS CORP
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

Name View Source Status
0001126234-14-000181-index-headers.html Edgar Link pending
0001126234-14-000181-index.html Edgar Link pending
0001126234-14-000181.txt Edgar Link pending
0001126234-14-000181-xbrl.zip Edgar Link pending
doc111782469v1newlink_image1.jpg Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
newlinklogorgbwtaga01.jpg Edgar Link pending
nlnk-20140930.xml Edgar Link completed
nlnk-20140930.xsd Edgar Link pending
nlnk-20140930x10q.htm Edgar Link pending
nlnk-20140930xex101.htm Edgar Link pending
nlnk-20140930xex102.htm Edgar Link pending
nlnk-20140930xex103.htm Edgar Link pending
nlnk-20140930xex104.htm Edgar Link pending
nlnk-20140930xex105.htm Edgar Link pending
nlnk-20140930xex311.htm Edgar Link pending
nlnk-20140930xex312.htm Edgar Link pending
nlnk-20140930xex321.htm Edgar Link pending
nlnk-20140930_cal.xml Edgar Link unprocessable
nlnk-20140930_def.xml Edgar Link unprocessable
nlnk-20140930_lab.xml Edgar Link unprocessable
nlnk-20140930_pre.xml Edgar Link unprocessable
phaclogoimage1.gif Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending