2019 Q3 Form 10-Q Financial Statement

#000119312519209916 Filed on August 01, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q4
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.18M $2.220M $2.730M
YoY Change 127.23% -48.49% -45.07%
% of Gross Profit
Research & Development $47.72M $10.00K $2.570M
YoY Change 345.4% -99.94% -77.77%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $59.52M $428.0K $5.300M
YoY Change 291.63% -98.08% -67.94%
Operating Profit -$59.52M -$428.0K
YoY Change 291.63% -115.91%
Interest Expense $390.0K $430.0K $430.0K
YoY Change -17.02% 22.86% 59.26%
% of Operating Profit
Other Income/Expense, Net $384.0K $427.0K -$10.00K
YoY Change 88.24% 87.28%
Pretax Income -$59.13M $0.00 -$4.890M
YoY Change 294.46% -100.0% -69.94%
Income Tax
% Of Pretax Income
Net Earnings -$59.13M -$1.000K -$4.890M
YoY Change 294.4% -100.03% -69.94%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$2.258M $0.00 -$207.7K
COMMON SHARES
Basic Shares Outstanding 23.54M 23.54M 23.54M shares
Diluted Shares Outstanding 23.54M

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.30M $72.70M $76.90M
YoY Change -23.53% -28.8% -28.86%
Cash & Equivalents $66.31M $72.70M $76.93M
Short-Term Investments $0.00
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.300M $500.0K $200.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $67.58M $73.21M $77.17M
YoY Change -22.58% -29.09% -29.09%
LONG-TERM ASSETS
Property, Plant & Equipment $1.388M $318.0K $400.0K
YoY Change 197.22% -59.28% -55.8%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $100.0K
YoY Change -100.0% -100.0% -83.33%
Total Long-Term Assets $2.209M $534.0K $453.0K
YoY Change 323.99% -54.94% -69.88%
TOTAL ASSETS
Total Short-Term Assets $67.58M $73.21M $77.17M
Total Long-Term Assets $2.209M $534.0K $453.0K
Total Assets $69.79M $73.74M $77.62M
YoY Change -20.52% -29.38% -29.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.300M $1.000M $4.600M
YoY Change -78.5% -92.48% -58.18%
Accrued Expenses $200.0K $200.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K
YoY Change
Total Short-Term Liabilities $2.565M $1.159M $4.627M
YoY Change -76.14% -91.32% -57.77%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $2.000K $319.0K
YoY Change -41.69% -99.5% -34.36%
Total Long-Term Liabilities $300.0K $2.000K $319.0K
YoY Change -12.54% -99.5% -34.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.565M $1.159M $4.627M
Total Long-Term Liabilities $300.0K $2.000K $319.0K
Total Liabilities $2.916M $1.414M $4.946M
YoY Change -73.71% -89.72% -56.77%
SHAREHOLDERS EQUITY
Retained Earnings -$291.4M -$232.3M -$230.1M
YoY Change 29.41% 10.51% 15.91%
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 $66.88M $72.33M $72.67M
YoY Change
Total Liabilities & Shareholders Equity $69.79M $73.74M $77.62M
YoY Change -20.52% -29.38% -29.65%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q4
OPERATING ACTIVITIES
Net Income -$59.13M -$1.000K -$4.890M
YoY Change 294.4% -100.03% -69.94%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$6.530M -$1.470M -$9.780M
YoY Change -57.57% -116.01% -15.76%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K $0.00 $0.00
YoY Change -600.0% -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $190.0K $0.00 $0.00
YoY Change -93.67% -100.0% -100.0%
Cash From Investing Activities $90.00K $0.00 $0.00
YoY Change -97.02% -100.0% -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 30.00K 0.000 0.000
YoY Change -250.0% -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -6.530M -1.470M -9.780M
Cash From Investing Activities 90.00K 0.000 0.000
Cash From Financing Activities 30.00K 0.000 0.000
Net Change In Cash -6.410M -1.470M -9.780M
YoY Change -48.26% -104.52% -298.78%
FREE CASH FLOW
Cash From Operating Activities -$6.530M -$1.470M -$9.780M
Capital Expenditures -$100.0K $0.00 $0.00
Free Cash Flow -$6.430M -$1.470M -$9.780M
YoY Change -58.27% -115.96% -15.69%

Facts In Submission

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CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
209000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
70000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
485000
CY2019Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
31000
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
454000
CY2019Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
201000
CY2019Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
253000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
362000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
336000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
280000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
978000
CY2019Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.06
CY2019Q2 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
200000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
400000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2018 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2019Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2631097
CY2018Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
324537
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2744109
CY2019Q2 us-gaap Investment Income Net
InvestmentIncomeNet
436000
CY2018Q2 us-gaap Investment Income Net
InvestmentIncomeNet
376000
us-gaap Investment Income Net
InvestmentIncomeNet
886000
us-gaap Investment Income Net
InvestmentIncomeNet
624000
CY2019Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-9000
CY2018Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-30000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-7000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-31000
CY2018Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-118000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-171000
CY2019Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
427000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
878000
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
228000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
422000
CY2018Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2018 aqxp License And Collaboration Agreement Terms
LicenseAndCollaborationAgreementTerms
The license and collaboration agreement also included an upfront payment of $25.0 million and contractual milestones.
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
25000000
CY2018 aqxp Non Refundable Up Front Payment Received
NonRefundableUpFrontPaymentReceived
25000000
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2897294
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.04
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y11M15D
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0282
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
266197
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
11.76
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2631097
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.76
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1160663
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
11.58
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y3D
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.86
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.77
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0274
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.60
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.83
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 stock outstanding on December 31 of the preceding calendar year, or a lesser number of shares determined by the board of directors.
CY2019Q2 aqxp Stock Shares Authorized Net
StockSharesAuthorizedNet
55000000
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.000001
CY2019Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2018Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
4725551
aqxp Stock Based Compensation Increase In Common Stock Issuance Percentage
StockBasedCompensationIncreaseInCommonStockIssuancePercentage
0.04
aqxp Period Shares Reserved For Issuance Will Increase
PeriodSharesReservedForIssuanceWillIncrease
P10Y
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y5M1D
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
800000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1900000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1500000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2800000
CY2019Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5900000
CY2018Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
15400000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
dei Trading Symbol
TradingSymbol
AQXP
CY2019Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
23537368
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2019-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Registrant Name
EntityRegistrantName
AQUINOX PHARMACEUTICALS, INC
dei Entity Central Index Key
EntityCentralIndexKey
0001404644
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Security12b Title
Security12bTitle
Common Stock
dei Entity Address State Or Province
EntityAddressStateOrProvince
DE
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2631097
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2007-05-31
CY2019Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
dei Entity Shell Company
EntityShellCompany
false
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
true
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0

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