$NKTX
Nkarta Inc

2022 Q1 Form 10-Q Financial Statement

#000095017022009693 Filed on May 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q3 2021 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 $6.530M $5.812M $5.940M
YoY Change 9.93% 48.27% 176.28%
% of Gross Profit
Research & Development $19.57M $16.62M $13.54M
YoY Change 44.53% 69.07% 86.49%
% of Gross Profit
Depreciation & Amortization $600.0K $500.0K $300.0K
YoY Change 100.0% 150.0% 200.0%
% of Gross Profit
Operating Expenses $26.10M $22.43M $19.48M
YoY Change 33.97% 63.16% 107.07%
Operating Profit -$26.10M -$22.43M -$19.48M
YoY Change 33.97% 63.16% 107.07%
Interest Expense $112.0K $81.00K $110.0K
YoY Change 1.82% -61.43% -8.33%
% of Operating Profit
Other Income/Expense, Net $111.0K $75.00K $108.0K
YoY Change 2.78% 41.51% -84.62%
Pretax Income -$25.99M -$22.35M -$19.37M
YoY Change 34.16% 63.28% 122.39%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$25.99M -$22.35M -$19.37M
YoY Change 34.14% 63.24% 122.52%
Net Earnings / Revenue
Basic Earnings Per Share -$0.79 -$0.68
Diluted Earnings Per Share -$787.7K -$679.4K -$591.6K
COMMON SHARES
Basic Shares Outstanding 33.00M 32.90M
Diluted Shares Outstanding 32.99M 32.90M

Balance Sheet

Concept 2022 Q1 2021 Q3 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $217.0M $257.7M $299.3M
YoY Change -27.51% -21.85% 1064.59%
Cash & Equivalents $41.61M $96.22M $62.61M
Short-Term Investments $175.3M $161.5M $236.7M
Other Short-Term Assets $2.280M $2.429M $1.085M
YoY Change 110.14% 310.3% 55.0%
Inventory
Prepaid Expenses $3.981M $4.511M $1.886M
Receivables
Other Receivables
Total Short-Term Assets $223.2M $264.6M $302.2M
YoY Change -26.14% -20.62% 1044.7%
LONG-TERM ASSETS
Property, Plant & Equipment $14.05M $14.05M $22.40M
YoY Change -37.26% 53.08% 79.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.461M $3.603M $1.100M
YoY Change 32.82% 561.1% -50.0%
Total Long-Term Assets $83.08M $27.83M $23.50M
YoY Change 253.54% 47.23% 59.86%
TOTAL ASSETS
Total Short-Term Assets $223.2M $264.6M $302.2M
Total Long-Term Assets $83.08M $27.83M $23.50M
Total Assets $306.3M $292.5M $325.7M
YoY Change -5.96% -16.98% 692.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.016M $2.139M $2.000M
YoY Change 0.8% -5.44% 0.0%
Accrued Expenses $6.321M $8.897M $5.192M
YoY Change 21.74% 52.84% -5.6%
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 $10.84M $12.05M $9.353M
YoY Change 15.92% 26.06% 0.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.00K $10.40M $75.00K
YoY Change -85.33% 10737.5% -98.68%
Total Long-Term Liabilities $11.00K $10.40M $75.00K
YoY Change -85.33% 10737.5% -98.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.84M $12.05M $9.353M
Total Long-Term Liabilities $11.00K $10.40M $75.00K
Total Liabilities $77.59M $22.45M $19.70M
YoY Change 293.83% 29.69% 31.35%
SHAREHOLDERS EQUITY
Retained Earnings -$230.1M -$181.3M
YoY Change 81.08%
Common Stock $459.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $228.7M $270.0M $306.0M
YoY Change
Total Liabilities & Shareholders Equity $306.3M $292.5M $325.7M
YoY Change -5.96% -16.98% 692.46%

Cashflow Statement

Concept 2022 Q1 2021 Q3 2021 Q1
OPERATING ACTIVITIES
Net Income -$25.99M -$22.35M -$19.37M
YoY Change 34.14% 63.24% 122.52%
Depreciation, Depletion And Amortization $600.0K $500.0K $300.0K
YoY Change 100.0% 150.0% 200.0%
Cash From Operating Activities -$18.26M -$18.26M -$14.65M
YoY Change 24.65% 50.63% 76.75%
INVESTING ACTIVITIES
Capital Expenditures $1.770M -$1.521M $1.033M
YoY Change 71.35% -6.69% -55.57%
Acquisitions
YoY Change
Other Investing Activities $744.0K $93.04M -$19.16M
YoY Change -103.88% -167.69% -365.37%
Cash From Investing Activities -$1.026M $91.51M -$20.19M
YoY Change -94.92% -165.8% -512.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 79.00K 188.0K 757.0K
YoY Change -89.56% -99.94% -206.77%
NET CHANGE
Cash From Operating Activities -18.26M -18.26M -14.65M
Cash From Investing Activities -1.026M 91.51M -20.19M
Cash From Financing Activities 79.00K 188.0K 757.0K
Net Change In Cash -19.21M 73.45M -34.08M
YoY Change -43.65% -57.01% 731.52%
FREE CASH FLOW
Cash From Operating Activities -$18.26M -$18.26M -$14.65M
Capital Expenditures $1.770M -$1.521M $1.033M
Free Cash Flow -$20.03M -$16.74M -$15.68M
YoY Change 27.73% 59.53% 47.76%

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to preclinical studies, fair value of assets and liabilities, share-based compensation and income taxes. Management bases its estimates on historical experience, knowledge of current events and actions it may undertake in the future that management believes to be reasonable under the circumstances. Actual results may differ from these estimates and assumptions.</span></p>
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CY2022Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
33000238
CY2021Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
32806880
CY2022Q1 nktx Weighted Average Number Of Shares Unvested Common Stock Issued Upon Early Exercise Of Common Stock Options
WeightedAverageNumberOfSharesUnvestedCommonStockIssuedUponEarlyExerciseOfCommonStockOptions
7656
CY2021Q1 nktx Weighted Average Number Of Shares Unvested Common Stock Issued Upon Early Exercise Of Common Stock Options
WeightedAverageNumberOfSharesUnvestedCommonStockIssuedUponEarlyExerciseOfCommonStockOptions
67270
CY2022Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32992582
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32739610
CY2022Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.79
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.59
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5305042
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8433286
CY2022Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
35047000
CY2022Q1 us-gaap Short Term Investments
ShortTermInvestments
175346000
CY2022Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
210393000
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
57018000
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
177272000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
234290000
CY2021 nktx Impairments
Impairments
0
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2021Q4 nktx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
2280000
CY2022Q1 nktx Accrued Property And Equipment Liabilities Current
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115000
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3981000
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PrepaidExpenseCurrent
4538000
CY2022Q1 us-gaap Other Assets Current
OtherAssetsCurrent
2280000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
3154000
CY2022Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6261000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
7692000
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17850000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
16043000
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3797000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3187000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14053000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12856000
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
600000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
300000
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2650000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5453000
CY2022Q1 nktx Accrued Research And Development Costs Current
AccruedResearchAndDevelopmentCostsCurrent
2949000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4144000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
9278000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
9269000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9533000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
9877000
CY2022Q1 nktx Lessee Operating Lease Liability Payments Due Year Five And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndThereafter
73553000
CY2021Q4 nktx Accrued Property And Equipment Liabilities Current
AccruedPropertyAndEquipmentLiabilitiesCurrent
96000
CY2022Q1 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
607000
CY2021Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
1518000
CY2022Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
6321000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
9347000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
2600000
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
600000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
600000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
400000
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.088
CY2021Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12Y
CY2021Q3 nktx Cash Received For Tenant Improvement Allowances To Be Repaid
CashReceivedForTenantImprovementAllowancesToBeRepaid
4400000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
115654000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
46114000
CY2022Q1 nktx Tenant Improvement Receivable
TenantImprovementReceivable
-295000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
69245000
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2505000
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
66740000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
69245000
CY2022Q1 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2021Q4 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4204686
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.19
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1007090
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
12.09
CY2022Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
21067
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.74
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
120342
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
23.45
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5070367
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.74
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1784571
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
15.17
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y6M
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
5070367
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
17.74
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y2M12D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.12
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4097000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3347000
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
38900000
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y6M3D
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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