$QNCX
Quince Therapeutics, Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459019042988 Filed on November 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q4 2018 Q3
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.320M $580.0K
YoY Change 300.0%
% of Gross Profit
Research & Development $8.253M $2.290M
YoY Change 260.39%
% of Gross Profit
Depreciation & Amortization $60.00K $10.00K
YoY Change 500.0%
% of Gross Profit
Operating Expenses $10.57M $2.874M
YoY Change 267.75%
Operating Profit -$10.57M -$2.874M
YoY Change 267.75%
Interest Expense $710.0K $350.0K
YoY Change 102.86%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$9.860M -$2.520M
YoY Change 291.27%
Income Tax
% Of Pretax Income
Net Earnings -$9.860M -$2.521M
YoY Change 291.11%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$0.37 -$0.75
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $120.5M $71.72M
YoY Change
Cash & Equivalents $44.74M $24.87M $27.29M
Short-Term Investments $75.70M $46.84M
Other Short-Term Assets $512.0K $68.00K
YoY Change
Inventory
Prepaid Expenses $136.0K $47.00K
Receivables
Other Receivables
Total Short-Term Assets $124.4M $72.58M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.400M $283.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $7.300M
YoY Change
Other Assets $300.0K $10.00K
YoY Change
Total Long-Term Assets $9.000M $293.0K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $124.4M $72.58M
Total Long-Term Assets $9.000M $293.0K
Total Assets $133.4M $72.88M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.300M $495.0K
YoY Change
Accrued Expenses $3.800M $962.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.100M $1.457M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.100M $1.457M
Total Long-Term Liabilities $0.00
Total Liabilities $6.127M $1.457M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$32.83M
YoY Change
Common Stock $248.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $127.3M -$32.63M -$29.26M
YoY Change
Total Liabilities & Shareholders Equity $133.4M $72.88M
YoY Change

Cashflow Statement

Concept 2019 Q3 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$9.860M -$2.521M
YoY Change 291.11%
Depreciation, Depletion And Amortization $60.00K $10.00K
YoY Change 500.0%
Cash From Operating Activities -$8.800M -$1.920M
YoY Change 358.33%
INVESTING ACTIVITIES
Capital Expenditures $30.00K $200.0K
YoY Change -85.0%
Acquisitions
YoY Change
Other Investing Activities $9.240M -$48.10M
YoY Change -119.21%
Cash From Investing Activities $9.220M -$48.31M
YoY Change -119.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -8.800M -1.920M
Cash From Investing Activities 9.220M -48.31M
Cash From Financing Activities 0.000 0.000
Net Change In Cash 420.0K -50.23M
YoY Change -100.84%
FREE CASH FLOW
Cash From Operating Activities -$8.800M -$1.920M
Capital Expenditures $30.00K $200.0K
Free Cash Flow -$8.830M -$2.120M
YoY Change 316.51%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;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%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the Company&#8217;s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and expenses, as well as related disclosure of contingent assets and liabilities. The most significant estimates used in the Company&#8217;s financial statements relate to the determination of the fair value of common stock prior to the initial public offering, stock-based awards and other issuances, valuation of derivative instruments, accruals for research and development costs, useful lives of long-lived assets, stock-based compensation and related assumptions, the incremental borrowing rate for leases and income tax uncertainties, including a valuation allowance for deferred tax assets; and contingencies. The Company bases its estimates on historical experience and on various other market specific and other relevant assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from the Company&#8217;s estimates.</p>
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EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
0
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y
CY2014Q2 crtx Percentage Of Royalty Rate Of Gross Revenues
PercentageOfRoyaltyRateOfGrossRevenues
0.03
CY2018Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P3Y
CY2018Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
114437
crtx Provision For Income Taxes
ProvisionForIncomeTaxes
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2422195
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
19117912

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