$NGNE
Neurogene Inc.

2016 Q2 Form 10-Q Financial Statement

#000119312516584833 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 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 $1.830M $1.950M $1.470M
YoY Change 56.41% 32.65% 98.65%
% of Gross Profit
Research & Development $9.235M $4.881M $4.567M
YoY Change 155.18% 6.88% 142.93%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $11.07M $6.834M $6.039M
YoY Change 130.91% 13.16% 130.94%
Operating Profit
YoY Change
Interest Expense $128.0K $121.0K $6.000K
YoY Change 2460.0% 1916.67% -98.68%
% of Operating Profit
Other Income/Expense, Net $164.0K $123.0K -$373.0K
YoY Change 290.48% -132.98% -76.88%
Pretax Income -$10.90M -$6.711M -$6.412M
YoY Change 129.49% 4.66% 51.66%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$10.90M -$6.711M -$6.412M
YoY Change 129.49% 4.66% 51.66%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$633.4K -$389.9K -$598.5K
COMMON SHARES
Basic Shares Outstanding 17.21M shares 17.21M shares 10.72M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.60M $68.70M $34.40M
YoY Change 129.66% 99.71% -38.13%
Cash & Equivalents $22.47M $35.69M $14.28M
Short-Term Investments $44.10M $33.00M $20.10M
Other Short-Term Assets $500.0K
YoY Change 0.0%
Inventory
Prepaid Expenses
Receivables $1.100M $800.0K $100.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $67.65M $69.49M $35.02M
YoY Change 127.3% 98.41% -37.74%
LONG-TERM ASSETS
Property, Plant & Equipment $387.0K $104.0K $97.00K
YoY Change 355.29% 7.22% 43.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $32.70M $38.60M $0.00
YoY Change
Other Assets $12.00K
YoY Change -91.13%
Total Long-Term Assets $33.05M $38.73M $109.0K
YoY Change 33973.2% 35429.36% -46.23%
TOTAL ASSETS
Total Short-Term Assets $67.65M $69.49M $35.02M
Total Long-Term Assets $33.05M $38.73M $109.0K
Total Assets $100.7M $108.2M $35.13M
YoY Change 237.25% 208.03% -37.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.500M $5.700M $5.000M
YoY Change 112.5% 14.0% 316.67%
Accrued Expenses
YoY Change
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 $8.497M $5.723M $4.972M
YoY Change 113.33% 15.1% 301.74%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $114.0K $106.0K $100.0K
YoY Change 14.0% 6.0% 1319.04%
Total Long-Term Liabilities $114.0K $106.0K $100.0K
YoY Change 14.0% 6.0% 1319.04%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.497M $5.723M $4.972M
Total Long-Term Liabilities $114.0K $106.0K $100.0K
Total Liabilities $8.611M $5.829M $5.051M
YoY Change 112.67% 15.4% 273.53%
SHAREHOLDERS EQUITY
Retained Earnings -$128.9M -$118.0M -$95.83M
YoY Change 28.15% 23.13%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $92.09M $102.4M $30.08M
YoY Change
Total Liabilities & Shareholders Equity $100.7M $108.2M $35.13M
YoY Change 237.25% 208.03% -37.77%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$10.90M -$6.711M -$6.412M
YoY Change 129.49% 4.66% 51.66%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$7.920M -$5.870M -$6.300M
YoY Change 36.55% -6.83% 65.79%
INVESTING ACTIVITIES
Capital Expenditures -$290.0K $27.00K $6.000K
YoY Change 350.0% 50.0%
Acquisitions
YoY Change
Other Investing Activities -$5.000M $2.020M $6.070M
YoY Change -183.06% -66.72%
Cash From Investing Activities -$5.300M $2.000M $6.060M
YoY Change -187.89% -67.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 70.00K
YoY Change -100.0% -100.0% -99.85%
NET CHANGE
Cash From Operating Activities -7.920M -5.870M -6.300M
Cash From Investing Activities -5.300M 2.000M 6.060M
Cash From Financing Activities 0.000 0.000 70.00K
Net Change In Cash -13.22M -3.870M -170.0K
YoY Change -7444.44% 2176.47% -100.41%
FREE CASH FLOW
Cash From Operating Activities -$7.920M -$5.870M -$6.300M
Capital Expenditures -$290.0K $27.00K $6.000K
Free Cash Flow -$7.630M -$5.897M -$6.306M
YoY Change 31.55% -6.49% 65.77%

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<div> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b>1. Nature of operations</b></p> <p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Aquinox Pharmaceuticals, Inc. and its wholly owned subsidiary, Aquinox Pharmaceuticals (Canada) Inc., (consolidated, the &#x201C;Company&#x201D;) is a clinical stage pharmaceutical company discovering and developing targeted therapeutics in disease areas of inflammation and immuno-oncology. The Company&#x2019;s primary focus is anti-inflammatory product candidates targeting SHIP1&#xA0;(SH2-containing inositol-5&#x2019;-phosphatase 1), which is a key regulator of an important cellular signaling pathway in immune cells, known as the PI3K pathway.</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Aquinox Pharmaceuticals, Inc. was originally incorporated under the name of Aquinox Pharmaceuticals (USA) Inc. on May&#xA0;31, 2007 in the State of Delaware, United States. On January&#xA0;27, 2014, Aquinox Pharmaceuticals (USA) Inc. changed its name to Aquinox Pharmaceuticals, Inc. (&#x201C;Aquinox USA&#x201D;).</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Aquinox Pharmaceuticals (Canada) Inc. (&#x201C;AQXP Canada&#x201D;) was originally incorporated under the name of 6175813 Canada Inc. on December&#xA0;26, 2003 under the Canada Business Corporations Act. In May 2014, after a corporate restructuring, the name was changed to Aquinox Pharmaceuticals (Canada) Inc.</p> <p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> The Company operates in Vancouver, British Columbia, Canada and San Bruno, California.</p> </div>
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AQUINOX PHARMACEUTICALS, INC
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.67
CY2016Q1 dei Document Period End Date
DocumentPeriodEndDate
2016-03-31
CY2016Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b><i>(b) Use of estimates and assumptions</i></b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant areas requiring management estimates are the valuation of stock options and warrants, amortization and depreciation, accrual of expenses, valuation allowance for deferred income taxes, and contingencies. Actual results could differ from those estimates.</p> </div>
CY2016Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2016Q1 dei Trading Symbol
TradingSymbol
AQXP
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1953000
CY2016Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y2M16D
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
396960 shares
CY2016Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
27000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
-6711000
CY2016Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
121000
CY2016Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
123000
CY2016Q1 us-gaap Interest Income Securities Us Treasury And Other Us Government
InterestIncomeSecuritiesUSTreasuryAndOtherUSGovernment
119000
CY2016Q1 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
243000
CY2016Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6468000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-6711000
CY2016Q1 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
50000
CY2016Q1 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
13002000
CY2016Q1 us-gaap Share Based Compensation
ShareBasedCompensation
433000
CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-3835000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
6834000
CY2016Q1 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
26000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
1996000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4881000
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
433000
CY2016Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
41000
CY2016Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
15025000
CY2016Q1 us-gaap Proceeds From Interest Received
ProceedsFromInterestReceived
121000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable And Other Operating Liabilities
IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities
890000
CY2016Q1 aqxp Period Shares Reserved For Issuance Will Increase
PeriodSharesReservedForIssuanceWillIncrease
P10Y
CY2016Q1 aqxp Fair Value Transfers Between Level One Level Two And Level Three Amount
FairValueTransfersBetweenLevelOneLevelTwoAndLevelThreeAmount
0
CY2016Q1 aqxp Common Stock Reserved For Issuance Description
CommonStockReservedForIssuanceDescription
Additionally, the number of shares of common stock reserved for issuance under the 2014 Plan will automatically increase on January 1 of each year for a period of up to 10 years, beginning on January 1, 2015 and ending on and including January 1, 2024, by 4% of the total number of shares of capital outstanding on December 31 of the preceding calendar year, or a lesser number of shares determined by the board of directors.
CY2016Q1 aqxp Other Non Operating Income And Expense Miscellaneous
OtherNonOperatingIncomeAndExpenseMiscellaneous
-22000
CY2016Q1 aqxp Stock Based Compensation Increase In Common Stock Issuance Percentage
StockBasedCompensationIncreaseInCommonStockIssuancePercentage
0.04 pure
CY2016Q1 aqxp Foreign Currency Transaction Gain Loss And Others
ForeignCurrencyTransactionGainLossAndOthers
-31000
CY2016Q1 aqxp Increase Decrease In Receivables Prepayments And Deposits
IncreaseDecreaseInReceivablesPrepaymentsAndDeposits
465000

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aqxp-20160331.xml Edgar Link completed
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