$NRIX
Nurix Therapeutics, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021018713 Filed on April 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $5.011M $2.864M
YoY Change 74.97% -68.98%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.530M $2.450M
YoY Change 166.53% 46.71%
% of Gross Profit
Research & Development $23.00M $12.97M
YoY Change 77.4% 24.32%
% of Gross Profit
Depreciation & Amortization $640.0K $490.0K
YoY Change 30.61% -24.62%
% of Gross Profit
Operating Expenses $29.53M $15.42M
YoY Change 91.56% 27.41%
Operating Profit -$24.52M -$12.55M
YoY Change 95.35%
Interest Expense $320.0K $170.0K
YoY Change 88.24% -10.53%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$24.20M -$12.38M
YoY Change 95.51% 361.94%
Income Tax $71.00K $11.00K
% Of Pretax Income
Net Earnings -$24.28M -$12.39M
YoY Change 95.91% 361.49%
Net Earnings / Revenue -484.43% -432.65%
Basic Earnings Per Share
Diluted Earnings Per Share -$626.1K -$1.089M
COMMON SHARES
Basic Shares Outstanding 38.91M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $303.1M $71.20M
YoY Change 325.7%
Cash & Equivalents $126.4M $56.41M
Short-Term Investments $176.7M $14.90M
Other Short-Term Assets $3.700M $5.500M
YoY Change -32.73%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $310.8M $76.70M
YoY Change 305.17%
LONG-TERM ASSETS
Property, Plant & Equipment $6.960M $4.000M
YoY Change 74.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $77.20M $7.600M
YoY Change 915.79%
Other Assets $1.571M $600.0K
YoY Change 161.83%
Total Long-Term Assets $85.89M $12.10M
YoY Change 609.85%
TOTAL ASSETS
Total Short-Term Assets $310.8M $76.70M
Total Long-Term Assets $85.89M $12.10M
Total Assets $396.7M $88.80M
YoY Change 346.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.388M $2.100M
YoY Change 108.95%
Accrued Expenses $10.80M $6.500M
YoY Change 66.15%
Deferred Revenue $32.75M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $47.97M $30.00M
YoY Change 59.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $832.0K $80.40M
YoY Change -98.97%
Total Long-Term Liabilities $832.0K $80.40M
YoY Change -98.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $47.97M $30.00M
Total Long-Term Liabilities $832.0K $80.40M
Total Liabilities $126.5M $110.4M
YoY Change 14.61%
SHAREHOLDERS EQUITY
Retained Earnings -$128.0M
YoY Change
Common Stock $398.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $270.1M -$69.80M
YoY Change
Total Liabilities & Shareholders Equity $396.7M $88.80M
YoY Change 346.69%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$24.28M -$12.39M
YoY Change 95.91% 361.49%
Depreciation, Depletion And Amortization $640.0K $490.0K
YoY Change 30.61% -24.62%
Cash From Operating Activities $8.053M $40.97M
YoY Change -80.35% -523.26%
INVESTING ACTIVITIES
Capital Expenditures $843.0K $364.0K
YoY Change 131.59% -327.5%
Acquisitions
YoY Change
Other Investing Activities -$1.540M -$19.06M
YoY Change -91.92% 4231.82%
Cash From Investing Activities -$2.387M -$19.42M
YoY Change -87.71% 3137.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.359M 46.00K
YoY Change 2854.35% 360.0%
NET CHANGE
Cash From Operating Activities 8.053M 40.97M
Cash From Investing Activities -2.387M -19.42M
Cash From Financing Activities 1.359M 46.00K
Net Change In Cash 7.025M 21.59M
YoY Change -67.47% -310.26%
FREE CASH FLOW
Cash From Operating Activities $8.053M $40.97M
Capital Expenditures $843.0K $364.0K
Free Cash Flow $7.210M $40.61M
YoY Change -82.24% -526.55%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:6pt;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="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;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 reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to the useful lives of long-lived assets, the measurement of stock-based compensation, accruals for research and development activities, income taxes and revenue recognition. The Company bases its estimates on historical experience and on other relevant assumptions that are reasonable under the circumstances. Actual results could materially differ from those estimates. </p>
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DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
0
CY2021Q1 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2020 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2021Q1 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
0
CY2015Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P60M
CY2017Q4 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2025-04-30
CY2021Q1 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
In November 2017, the Company entered into an amendment to its original lease agreement that combined the Company’s two leases into a single lease agreement and extended the term of the lease agreement through April 30, 2025.
CY2021Q1 us-gaap Security Deposit
SecurityDeposit
91000
CY2020Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P14M
CY2020Q2 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-07-31
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
700000
CY2021Q1 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3438000
CY2021Q1 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
2342000
CY2021Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
3541000
CY2021Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
1493000
CY2021Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
14179000
CY2021Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
one
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
9846362
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
8153546
CY2021Q1 nrix Share Based Compensation Arrangement By Share Based Payment Award Options Shares Subject To Repurchase
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsSharesSubjectToRepurchase
121134
CY2021Q1 nrix Share Based Compensation Arrangements By Share Based Payment Award Options Exercise Value Of Shares Subject To Repurchase
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExerciseValueOfSharesSubjectToRepurchase
500000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
49700000
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y6M
CY2021Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
200000
CY2020Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000
CY2021Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
71000
CY2020Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
11000
CY2021Q1 nrix Percentage Of Net Operating Loss Carryover And Carryback Offset Of Taxable Income Cares Act
PercentageOfNetOperatingLossCarryoverAndCarrybackOffsetOfTaxableIncomeCARESAct
1.00
CY2021Q1 nrix Net Operating Loss Carryback Period Cares Act
NetOperatingLossCarrybackPeriodCARESAct
P5Y
CY2020 nrix Net Operating Loss Carryback Refund Claim Cares Act
NetOperatingLossCarrybackRefundClaimCARESAct
19600000
CY2020 nrix Income Taxes Refund Received On First Refund Claim Cares Act
IncomeTaxesRefundReceivedOnFirstRefundClaimCARESAct
16300000
CY2020 nrix Income Interest Received Cares Act
IncomeInterestReceivedCARESAct
567000
CY2021Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
4000000
CY2021Q1 us-gaap Income Tax Examination Interest Accrued
IncomeTaxExaminationInterestAccrued
100000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5251736
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15560578

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