$MTEM
Molecular Templates, Inc.

2024 Q3 Form 10-Q Financial Statement

#000155837024012257 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $572.0K
YoY Change -91.67%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.466M
YoY Change -33.35%
% of Gross Profit
Research & Development $5.402M
YoY Change -59.73%
% of Gross Profit
Depreciation & Amortization $1.000M
YoY Change -50.0%
% of Gross Profit
Operating Expenses $8.868M
YoY Change -52.34%
Operating Profit -$8.296M
YoY Change -29.35%
Interest Expense $92.00K
YoY Change -111.22%
% of Operating Profit
Other Income/Expense, Net $107.0K
YoY Change -64.33%
Pretax Income -$8.097M
YoY Change -25.5%
Income Tax
% Of Pretax Income
Net Earnings -$8.097M
YoY Change -25.51%
Net Earnings / Revenue -1415.56%
Basic Earnings Per Share $1.23
Diluted Earnings Per Share $1.23
COMMON SHARES
Basic Shares Outstanding 6.584M 6.584M
Diluted Shares Outstanding 6.557M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.657M
YoY Change 93.14%
Cash & Equivalents $9.657M
Short-Term Investments
Other Short-Term Assets $777.0K
YoY Change -71.33%
Inventory
Prepaid Expenses $787.0K
Receivables
Other Receivables
Total Short-Term Assets $12.02M
YoY Change 1.63%
LONG-TERM ASSETS
Property, Plant & Equipment $5.238M
YoY Change -48.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.319M
YoY Change -60.84%
Total Long-Term Assets $14.68M
YoY Change -38.03%
TOTAL ASSETS
Total Short-Term Assets $12.02M
Total Long-Term Assets $14.68M
Total Assets $26.70M
YoY Change -24.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.773M
YoY Change -40.61%
Accrued Expenses $2.270M
YoY Change -35.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.680M
YoY Change -71.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $1.465M
YoY Change 8.6%
Total Long-Term Liabilities $1.465M
YoY Change 8.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.680M
Total Long-Term Liabilities $1.465M
Total Liabilities $19.59M
YoY Change -55.68%
SHAREHOLDERS EQUITY
Retained Earnings -$460.4M
YoY Change 3.51%
Common Stock $7.000K
YoY Change -87.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.111M
YoY Change
Total Liabilities & Shareholders Equity $26.70M
YoY Change -24.82%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$8.097M
YoY Change -25.51%
Depreciation, Depletion And Amortization $1.000M
YoY Change -50.0%
Cash From Operating Activities -$5.859M
YoY Change -39.22%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.616M
YoY Change -131.33%
NET CHANGE
Cash From Operating Activities -5.859M
Cash From Investing Activities 0.000
Cash From Financing Activities 8.616M
Net Change In Cash 2.757M
YoY Change -108.11%
FREE CASH FLOW
Cash From Operating Activities -$5.859M
Capital Expenditures $0.00
Free Cash Flow -$5.859M
YoY Change -39.35%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk and Other Risks and Uncertainties</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:25.2pt;margin:0pt 0pt 11pt 0pt;">Financial instruments that potentially subject the Company to concentrations of risk consist principally of cash and cash equivalents, investments, long term debt and accounts receivable.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:25.2pt;margin:0pt 0pt 11pt 0pt;">The Company’s cash and cash equivalents are with two major financial institutions in the United States.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:25.2pt;margin:0pt 0pt 11pt 0pt;">The Company performs an ongoing credit evaluation of its strategic partners’ financial conditions and generally does not require collateral to secure accounts receivable from its strategic partners. As of June 30, 2024, the Company’s exposure to credit risk associated with non-payment will be affected principally by conditions or occurrences within Bristol-Myers Squibb Company (“Bristol-Myers Squibb”). Bristol-Myers Squibb accounted for approximately 33% and 97% of total revenues for the three months ended June 30, 2024 and 2023, respectively, and approximately 95% and 93% of total revenues for the six months ended June 30, 2024 and 2023, respectively.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:25.2pt;margin:0pt 0pt 11pt 0pt;">Biologic candidates developed by the Company require approvals or clearances from the U.S. Food and Drug Administration (the “FDA”) or international regulatory agencies prior to commercial sales. There can be no assurance that the Company’s biologic candidates will receive any of the required approvals or clearances. If the Company were to be denied approval or clearance or any such approval or clearance were to be delayed, it would have a material adverse impact on the Company.</p>
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