$NGNE
Neurogene Inc.

2021 Q1 Form 10-Q Financial Statement

#000162828021009912 Filed on May 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.240M $3.570M
YoY Change 46.78% 51.27%
% of Gross Profit
Research & Development $9.707M $5.498M
YoY Change 76.56% 5186.54%
% of Gross Profit
Depreciation & Amortization $247.0K $171.0K
YoY Change 44.44% 317.07%
% of Gross Profit
Operating Expenses $9.707M $9.071M
YoY Change 7.01% 241.14%
Operating Profit -$14.95M -$9.071M
YoY Change 64.79%
Interest Expense $0.00 $450.0K
YoY Change -100.0% 0.0%
% of Operating Profit
Other Income/Expense, Net -$2.000K $429.0K
YoY Change -100.47% -4.88%
Pretax Income -$14.95M -$8.640M
YoY Change 73.03% 290.95%
Income Tax
% Of Pretax Income
Net Earnings -$14.95M -$8.642M
YoY Change 72.99% 291.39%
Net Earnings / Revenue
Basic Earnings Per Share -$0.27 -$0.18
Diluted Earnings Per Share -$0.27 -$0.18
COMMON SHARES
Basic Shares Outstanding 54.94M shares 49.17M shares
Diluted Shares Outstanding 54.94M shares 49.17M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $178.4M $139.4M
YoY Change 27.98% 87.87%
Cash & Equivalents $178.4M $139.9M
Short-Term Investments
Other Short-Term Assets $2.915M
YoY Change
Inventory
Prepaid Expenses
Receivables $200.0K
Other Receivables $0.00
Total Short-Term Assets $181.3M $139.7M
YoY Change 29.78% 86.69%
LONG-TERM ASSETS
Property, Plant & Equipment $5.110M $12.40M
YoY Change -58.79% 3354.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.921M $500.0K
YoY Change 284.2%
Total Long-Term Assets $18.80M $13.40M
YoY Change 40.28% 2122.22%
TOTAL ASSETS
Total Short-Term Assets $181.3M $139.7M
Total Long-Term Assets $18.80M $13.40M
Total Assets $200.1M $153.1M
YoY Change 30.7% 102.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.300M $5.000M
YoY Change 46.0% 47.06%
Accrued Expenses $1.000M $500.0K
YoY Change 100.0% 150.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $100.0K
YoY Change 0.0%
Total Short-Term Liabilities $8.407M $5.603M
YoY Change 50.04% 55.81%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K
YoY Change 0.0%
Other Long-Term Liabilities $12.60M $10.20M
YoY Change 23.53% 254900.0%
Total Long-Term Liabilities $12.70M $10.30M
YoY Change 23.3% 257400.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.407M $5.603M
Total Long-Term Liabilities $12.70M $10.30M
Total Liabilities $21.14M $15.93M
YoY Change 32.67% 309.33%
SHAREHOLDERS EQUITY
Retained Earnings -$347.8M -$308.2M
YoY Change 12.85% 32.66%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $179.0M $137.1M
YoY Change
Total Liabilities & Shareholders Equity $200.1M $153.1M
YoY Change 30.74% 102.89%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$14.95M -$8.642M
YoY Change 72.99% 291.39%
Depreciation, Depletion And Amortization $247.0K $171.0K
YoY Change 44.44% 317.07%
Cash From Operating Activities -$13.36M -$6.440M
YoY Change 107.42% 133.67%
INVESTING ACTIVITIES
Capital Expenditures $1.089M $107.0K
YoY Change 917.76%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.089M -$107.0K
YoY Change 917.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $282.0K $3.390M
YoY Change -91.68% -169600.0%
NET CHANGE
Cash From Operating Activities -$13.36M -$6.440M
Cash From Investing Activities -$1.089M -$107.0K
Cash From Financing Activities $282.0K $3.390M
Net Change In Cash -$14.17M -$3.168M
YoY Change 347.13% 14.82%
FREE CASH FLOW
Cash From Operating Activities -$13.36M -$6.440M
Capital Expenditures $1.089M $107.0K
Free Cash Flow -$14.45M -$6.547M
YoY Change 120.67% 137.55%

Facts In Submission

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Nature of operationsNeoleukin Therapeutics, Inc. (“Neoleukin” or “the Company”) is a biopharmaceutical company creating next generation immunotherapies for cancer, inflammation and autoimmunity using de novo protein design technology. Neoleukin uses sophisticated computational methods to design proteins that demonstrate specific pharmaceutical properties that provide potentially superior therapeutic benefit over native proteins.
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Use of estimates and assumptionsThe 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, the incremental borrowing rate utilized in the measurement of operating and finance lease liabilities, amortization and depreciation of property, plant and equipment and intangible assets, and pre-clinical, clinical, and other accruals. Actual results could differ from those estimates.
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CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y18D
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0061
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2420000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
683000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
23800000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8968
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.9000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0078
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6846289 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.42
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M15D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
53127000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
140800 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
12.83
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
91737 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.07
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
3774 shares
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
16.63
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6891578 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.59
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y8M4D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
16908000 USD
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y6M3D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
40710000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2205214 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.04
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
91737 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000.0 USD
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
376311 shares
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1300000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
9.43
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.62
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7062599 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5478927 shares

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