$NKTX
Nkarta Inc

2020 Q2 Form 10-Q Financial Statement

#000156459020040819 Filed on August 20, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $0.00 $2.308K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.490M $1.050M
YoY Change 137.14%
% of Gross Profit
Research & Development $7.862M $3.621M
YoY Change 117.13%
% of Gross Profit
Depreciation & Amortization $100.0K $100.0K
YoY Change 0.0%
% of Gross Profit
Operating Expenses $10.36M $4.673M
YoY Change 121.6%
Operating Profit -$10.36M -$4.671M
YoY Change 121.71%
Interest Expense $30.00K -$170.0K
YoY Change -117.65%
% of Operating Profit
Other Income/Expense, Net -$40.71M -$167.1K
YoY Change 24257.85%
Pretax Income -$51.07M -$4.840M
YoY Change 955.17%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$51.07M -$4.838M
YoY Change 955.5%
Net Earnings / Revenue -209618.72%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.678M -$0.16
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $21.60M
YoY Change
Cash & Equivalents $17.75M $5.914M
Short-Term Investments $3.900M
Other Short-Term Assets $24.52K
YoY Change
Inventory
Prepaid Expenses $337.7K
Receivables
Other Receivables
Total Short-Term Assets $22.30M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $16.80M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.600M
YoY Change
Total Long-Term Assets $21.30M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $22.30M
Total Long-Term Assets $21.30M
Total Assets $43.60M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.700M
YoY Change
Accrued Expenses $5.300M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $59.74M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $120.0K
YoY Change
Total Long-Term Liabilities $120.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $59.74M
Total Long-Term Liabilities $120.0K
Total Liabilities $67.69M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$86.43M
YoY Change
Common Stock $2.541M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$83.89M -$13.14M
YoY Change
Total Liabilities & Shareholders Equity $43.62M
YoY Change

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$51.07M -$4.838M
YoY Change 955.5%
Depreciation, Depletion And Amortization $100.0K $100.0K
YoY Change 0.0%
Cash From Operating Activities -$10.24M -$3.260M
YoY Change 214.11%
INVESTING ACTIVITIES
Capital Expenditures -$2.480M $270.0K
YoY Change -1018.52%
Acquisitions
YoY Change
Other Investing Activities $5.300M $0.00
YoY Change
Cash From Investing Activities $2.810M -$270.0K
YoY Change -1140.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.810M 6.020M
YoY Change 46.35%
NET CHANGE
Cash From Operating Activities -10.24M -3.260M
Cash From Investing Activities 2.810M -270.0K
Cash From Financing Activities 8.810M 6.020M
Net Change In Cash 1.380M 2.490M
YoY Change -44.58%
FREE CASH FLOW
Cash From Operating Activities -$10.24M -$3.260M
Capital Expenditures -$2.480M $270.0K
Free Cash Flow -$7.760M -$3.530M
YoY Change 119.83%

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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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&#8217;s financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, preclinical studies, fair value of assets and liabilities, convertible preferred stock, 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.</p>
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CY2019Q4 us-gaap Deposits Assets Noncurrent
DepositsAssetsNoncurrent
351048
CY2020Q2 nktx Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
3595238
CY2019Q4 nktx Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
104030
CY2020Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1752105
CY2020Q2 nktx Research And Development Liabilities Current
ResearchAndDevelopmentLiabilitiesCurrent
469285
CY2019Q4 nktx Research And Development Liabilities Current
ResearchAndDevelopmentLiabilitiesCurrent
702689
CY2020Q2 nktx Property And Equipment Liabilities Current
PropertyAndEquipmentLiabilitiesCurrent
354785
CY2019Q4 nktx Property And Equipment Liabilities Current
PropertyAndEquipmentLiabilitiesCurrent
213739
CY2020Q2 nktx Deferred Offering Costs Related Liabilities Current
DeferredOfferingCostsRelatedLiabilitiesCurrent
1155000
CY2019Q4 nktx Deferred Offering Costs Related Liabilities Current
DeferredOfferingCostsRelatedLiabilitiesCurrent
104030
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
871034
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
591294
CY2019Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
3289492
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
200000
us-gaap Operating Lease Payments
OperatingLeasePayments
300000
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
860955
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1461373
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1452121
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1502982
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1555677
CY2020Q2 nktx Lessee Operating Lease Liability Payments Due Year Five And Thereafter
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndThereafter
6981300
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
13814408
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4466790
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
9347618
CY2020Q2 nktx Lessee Operating Lease Lease Not Yet Commenced Minimum Lease Payments
LesseeOperatingLeaseLeaseNotYetCommencedMinimumLeasePayments
4500000
CY2020Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2019Q4 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2020Q2 us-gaap Capital Units Authorized
CapitalUnitsAuthorized
126270161
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
71919982
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
54350179
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
2800000
CY2020Q2 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
10200000
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1750501
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1875389
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
124888
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The holders of the common stock are entitled to one vote for each share of common stock held at all meetings of stockholders.
CY2020Q2 nktx Common Stock Number Of Voting Rights For Each Share
CommonStockNumberOfVotingRightsForEachShare
1
CY2020Q2 us-gaap Share Based Compensation
ShareBasedCompensation
600000
CY2019Q2 us-gaap Share Based Compensation
ShareBasedCompensation
100000
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
5400000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y3M18D
CY2020Q2 nktx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Common Stock Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsCommonStockFairValue
4.33
CY2019Q2 nktx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Common Stock Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsCommonStockFairValue
4.77
nktx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Common Stock Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsCommonStockFairValue
4.30
nktx Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Common Stock Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsCommonStockFairValue
4.77
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0044
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0232
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0049
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0232
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8100
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8194
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8077
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.8194
CY2020Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
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
P6Y1M6D
CY2020Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9990140
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2019Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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