$NGNE
Neurogene Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459020052218 Filed on November 09, 2020

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2019 Q1
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 $2.360M
YoY Change 127.23% -48.49% -45.24%
% of Gross Profit
Research & Development $47.72M $10.00K $104.0K
YoY Change 345.4% -99.94% -99.01%
% of Gross Profit
Depreciation & Amortization $41.00K
YoY Change
% of Gross Profit
Operating Expenses $59.52M $428.0K $2.659M
YoY Change 291.63% -98.08% -82.05%
Operating Profit -$59.52M -$428.0K
YoY Change 291.63% -115.91%
Interest Expense $390.0K $430.0K $450.0K
YoY Change -17.02% 22.86% 80.0%
% of Operating Profit
Other Income/Expense, Net $384.0K $427.0K $451.0K
YoY Change 88.24% 87.28% 132.47%
Pretax Income -$59.13M $0.00 -$2.210M
YoY Change 294.46% -100.0% -84.88%
Income Tax
% Of Pretax Income
Net Earnings -$59.13M -$1.000K -$2.208M
YoY Change 294.4% -100.03% -84.9%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$2.258M $0.00 -$93.88K
COMMON SHARES
Basic Shares Outstanding 23.54M 23.54M 23.54M shares
Diluted Shares Outstanding 23.54M

Balance Sheet

Concept 2019 Q3 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $66.30M $72.70M $74.20M
YoY Change -23.53% -28.8% -19.96%
Cash & Equivalents $66.31M $72.70M $74.17M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.300M $500.0K $700.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $67.58M $73.21M $74.83M
YoY Change -22.58% -29.09% -20.58%
LONG-TERM ASSETS
Property, Plant & Equipment $1.388M $318.0K $359.0K
YoY Change 197.22% -59.28% -57.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Long-Term Assets $2.209M $534.0K $603.0K
YoY Change 323.99% -54.94% -56.93%
TOTAL ASSETS
Total Short-Term Assets $67.58M $73.21M $74.83M
Total Long-Term Assets $2.209M $534.0K $603.0K
Total Assets $69.79M $73.74M $75.43M
YoY Change -20.52% -29.38% -21.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.300M $1.000M $3.400M
YoY Change -78.5% -92.48% -63.83%
Accrued Expenses $200.0K $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 $3.596M
YoY Change -76.14% -91.32% -61.56%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $0.00 $0.00
YoY Change
Other Long-Term Liabilities $200.0K $2.000K $4.000K
YoY Change -41.69% -99.5% -99.1%
Total Long-Term Liabilities $300.0K $2.000K $4.000K
YoY Change -12.54% -99.5% -99.1%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.565M $1.159M $3.596M
Total Long-Term Liabilities $300.0K $2.000K $4.000K
Total Liabilities $2.916M $1.414M $3.892M
YoY Change -73.71% -89.72% -60.28%
SHAREHOLDERS EQUITY
Retained Earnings -$291.4M -$232.3M -$232.3M
YoY Change 29.41% 10.51% 8.99%
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 $71.54M
YoY Change
Total Liabilities & Shareholders Equity $69.79M $73.74M $75.43M
YoY Change -20.52% -29.38% -21.11%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$59.13M -$1.000K -$2.208M
YoY Change 294.4% -100.03% -84.9%
Depreciation, Depletion And Amortization $41.00K
YoY Change
Cash From Operating Activities -$6.530M -$1.470M -$2.756M
YoY Change -57.57% -116.01% -82.32%
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 -2.000K
YoY Change -250.0% -100.0% -101.01%
NET CHANGE
Cash From Operating Activities -6.530M -1.470M -2.756M
Cash From Investing Activities 90.00K 0.000 0.000
Cash From Financing Activities 30.00K 0.000 -2.000K
Net Change In Cash -6.410M -1.470M -2.759M
YoY Change -48.26% -104.52% -118.93%
FREE CASH FLOW
Cash From Operating Activities -$6.530M -$1.470M -$2.756M
Capital Expenditures -$100.0K $0.00 $0.00
Free Cash Flow -$6.430M -$1.470M -$2.756M
YoY Change -58.27% -115.96% -82.37%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Operating Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Earnings Per Share Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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us-gaap Profit Loss
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nltx Operating Lease Right Of Use Asset Amortization
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nltx Write Off Of Right Of Use Asset Upon Lease Termination
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us-gaap Foreign Currency Transaction Gain Loss Unrealized
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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nltx Increase Decrease In Operating Lease Right Of Use Assets
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nltx Increase Decrease In Operating Lease Liabilities
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nltx Increase Decrease In Operating Lease Liabilities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Finance Lease Principal Payments
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us-gaap Finance Lease Principal Payments
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us-gaap Nature Of Operations
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of operations </p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:6pt;text-indent:0%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Neoleukin Therapeutics, Inc. (&#8220;Neoleukin&#8221; or &#8220;the Company&#8221;) is<font style="color:#000000;"> a biopharmaceutical company creating next generation immunotherapies for cancer, inflammation and autoimmunity using</font><font style="font-style:italic;color:#000000;"> de novo </font><font style="color:#000000;">protein design technology. Neoleukin uses sophisticated computational methods to design</font><font style="font-style:italic;color:#000000;">&#160;</font><font style="Background-color:#FFFFFF;">proteins that demonstrate specific pharmaceutical properties that provide potentially superior therapeutic benefit over native proteins.&#160;</font></p>
us-gaap Use Of Estimates
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<p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">(b) Use of estimates and assumptions</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated 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 consolidated financial statements and the reported amounts of expenses during the reporting period. Significant areas requiring estimates include valuation and recognition of stock-based compensation, leases, amortization and depreciation of property, plant and equipment and intangible assets, and pre-clinical and other accruals. Actual results could differ from those estimates.</p>
us-gaap Prior Period Reclassification Adjustment Description
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y25D
CY2019Q3 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
P6Y7D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0034
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0144
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0042
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0144
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5840538
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2006000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
581270
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
497338
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6767930
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1840302
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.11
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.52
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.88
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
15.65
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.99
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.11
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M19D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y2M12D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
45037000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
42143000
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
13694000
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
759936
us-gaap Employee Stock Ownership Plan Esop Plan Description
EmployeeStockOwnershipPlanESOPPlanDescription
eligible employees to contribute, through payroll deductions, up to 15% of their earnings for the purchase of the Company’s shares of common stock at the lower of 85% of the closing price of the Company’s common stock on the first trading day of the offering period or 85% of the closing price of the Company’s common stock on the last trading day of the offering period
nltx Employee Stock Purchase Plan Number Of Offering Per Year
EmployeeStockPurchasePlanNumberOfOfferingPerYear
2
nltx Employee Stock Purchase Plan Offering Commencement Date
EmployeeStockPurchasePlanOfferingCommencementDate
2020-05-16
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6972441
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16468693
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6972441
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16468693

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