$RGLS
Regulus Therapeutics Inc.

2015 Q1 Form 10-K Financial Statement

#000119312515052948 Filed on February 19, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2013 Q4 2013 Q3
Revenue $4.200M $5.454M $6.118M
YoY Change 157.51% 68.44% 117.8%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.640M $1.880M $1.920M
YoY Change 33.33% -2.59% 76.15%
% of Gross Profit
Research & Development $13.43M $8.230M $7.106M
YoY Change 39.81% 46.7% 35.4%
% of Gross Profit
Depreciation & Amortization $394.0K $360.0K $370.0K
YoY Change 11.3% 28.57% 42.31%
% of Gross Profit
Operating Expenses $17.07M $10.12M $9.023M
YoY Change 38.38% 34.15% 42.3%
Operating Profit -$12.87M -$2.905M
YoY Change 20.23% -17.75%
Interest Expense $8.000K $70.00K $7.000K
YoY Change -27.27% -12.5% -93.64%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$14.49M -$1.950M -$2.169M
YoY Change 13.74% -71.57% -61.89%
Income Tax -$4.000K -$20.00K -$5.000K
% Of Pretax Income
Net Earnings -$14.49M -$1.927M -$2.164M
YoY Change 13.7% -71.97% -61.93%
Net Earnings / Revenue -344.93% -35.33% -35.37%
Basic Earnings Per Share -$0.29 -$0.05 -$0.05
Diluted Earnings Per Share -$3.475M -$0.11 -$0.07
COMMON SHARES
Basic Shares Outstanding 50.52M shares 41.78M shares 40.15M shares
Diluted Shares Outstanding 41.56M shares

Balance Sheet

Concept 2015 Q1 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $148.8M $114.0M $123.9M
YoY Change 29.84% 16.21% 300.97%
Cash & Equivalents $19.60M $17.81M $33.49M
Short-Term Investments $129.2M $96.20M $90.40M
Other Short-Term Assets $4.900M $3.100M $1.300M
YoY Change 40.0% 287.5% 160.0%
Inventory
Prepaid Expenses
Receivables $4.900M $100.0K $100.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $158.5M $117.2M $125.3M
YoY Change 34.08% 18.45% 264.64%
LONG-TERM ASSETS
Property, Plant & Equipment $3.444M $3.768M $3.981M
YoY Change -9.49% 13.84% 26.62%
Goodwill
YoY Change
Intangibles $1.087M $1.128M $1.145M
YoY Change -0.73% -2.25% 1.87%
Long-Term Investments
YoY Change
Other Assets $1.800M $987.0K $178.0K
YoY Change 84.05% 689.6% -91.51%
Total Long-Term Assets $6.331M $5.883M $5.304M
YoY Change 7.71% 28.2% -16.66%
TOTAL ASSETS
Total Short-Term Assets $158.5M $117.2M $125.3M
Total Long-Term Assets $6.331M $5.883M $5.304M
Total Assets $164.8M $123.1M $130.6M
YoY Change 32.83% 18.88% 220.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.677M $1.172M $1.140M
YoY Change -0.52% 276.85% 75.65%
Accrued Expenses $5.318M $3.013M $1.705M
YoY Change 62.18% 357.9% -18.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $14.35M $10.37M $13.53M
YoY Change 49.99% -18.78% 0.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $11.30M $13.90M
YoY Change -100.0% 11.88% -20.11%
Other Long-Term Liabilities $903.0K $1.459M $1.558M
YoY Change -33.65% 90.22% -91.49%
Total Long-Term Liabilities $903.0K $1.459M $1.558M
YoY Change -33.65% 90.22% -95.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.35M $10.37M $13.53M
Total Long-Term Liabilities $903.0K $1.459M $1.558M
Total Liabilities $18.02M $29.61M $36.14M
YoY Change -43.36% -28.53% -26.51%
SHAREHOLDERS EQUITY
Retained Earnings -$150.3M -$79.09M -$77.16M
YoY Change 63.63% 30.9% 44.11%
Common Stock $297.2M $42.00K $42.00K
YoY Change 691160.47% 16.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $146.8M $93.46M $94.45M
YoY Change
Total Liabilities & Shareholders Equity $164.8M $123.1M $130.6M
YoY Change 32.83% 18.88% 220.68%

Cashflow Statement

Concept 2015 Q1 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income -$14.49M -$1.927M -$2.164M
YoY Change 13.7% -71.97% -61.93%
Depreciation, Depletion And Amortization $394.0K $360.0K $370.0K
YoY Change 11.3% 28.57% 42.31%
Cash From Operating Activities -$11.25M -$9.310M -$4.430M
YoY Change 24.62% -1195.29% -2026.09%
INVESTING ACTIVITIES
Capital Expenditures $236.0K -$190.0K -$340.0K
YoY Change 214.67% -55.81% -3500.0%
Acquisitions
YoY Change
Other Investing Activities -$7.150M -$6.170M -$27.16M
YoY Change -31.32% -86.08% -419.53%
Cash From Investing Activities -$7.390M -$6.370M -$27.49M
YoY Change -29.5% -85.76% -423.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $257.0K $45.80M
YoY Change -97.36%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $915.0K -10.00K 46.25M
YoY Change -91.01% -100.01% 1130.05%
NET CHANGE
Cash From Operating Activities -$11.25M -9.310M -4.430M
Cash From Investing Activities -$7.390M -6.370M -27.49M
Cash From Financing Activities $915.0K -10.00K 46.25M
Net Change In Cash -$17.73M -15.69M 14.33M
YoY Change 89.98% -167.83% 14.64%
FREE CASH FLOW
Cash From Operating Activities -$11.25M -$9.310M -$4.430M
Capital Expenditures $236.0K -$190.0K -$340.0K
Free Cash Flow -$11.49M -$9.120M -$4.090M
YoY Change 26.19% -812.5% -1959.09%

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CY2014 dei Trading Symbol
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RGLS
CY2014 dei Entity Registrant Name
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REGULUS THERAPEUTICS INC.
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Accelerated Filer
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CY2014 dei Document Type
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10-K
CY2014 dei Document Period End Date
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2014-12-31
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0001505512
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Yes
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<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Concentrations of Credit Risk</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash equivalents and short-term investments. We maintain deposits in federally insured financial institutions in excess of federally insured limits. We have not experienced any losses in such accounts and believe we are not exposed to significant risk. We maintain our cash equivalents and short-term investments with three financial institutions. We invest our excess cash primarily in commercial paper and debt instruments of financial institutions and corporations. Additionally, we adhere to established guidelines regarding approved investments and maturities of investments, which are designed to maintain safety and liquidity.</p> </div>
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<div> <p style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> <b><i>Use of Estimates</i></b></p> <p style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"> Our financial statements are prepared in accordance with U.S. generally accepted accounting principles. The preparation of our financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in our financial statements and accompanying notes. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ from these estimates and assumptions.</p> </div>
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CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10000
CY2012 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
486000
CY2012 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-368000
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
800000
CY2012 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-20000
CY2012 us-gaap Interest Expense
InterestExpense
247000
CY2012 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
65788000
CY2012 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-5923000
CY2012 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-9000
CY2012 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
5000000
CY2012 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
139000
CY2012 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-2000
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1017000
CY2012 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
100000
CY2012 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
1000
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1550000
CY2012 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
600000
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
20342000
CY2012 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
33083000
CY2012 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
100000
CY2012 rgls Income Tax Reconciliation Gain Loss On Extinguishment Of Debt
IncomeTaxReconciliationGainLossOnExtinguishmentOfDebt
692000
CY2012 rgls Income Tax Reconciliation Change In Fair Value Of Convertible Notes
IncomeTaxReconciliationChangeInFairValueOfConvertibleNotes
1183000
CY2012 rgls Unrecognized Tax Benefits Increases Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesDecreasesResultingFromPriorPeriodTaxPositions
50000
CY2013Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2013Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2013Q1 us-gaap Revenues
Revenues
3238000
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-7229000
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
8788000
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.30
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.30
CY2014Q1 us-gaap Revenues
Revenues
1631000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-12741000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
12336000
CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
CY2013Q2 us-gaap Revenues
Revenues
4759000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-7348000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
9445000
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-2164000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
9023000
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2014Q3 us-gaap Revenues
Revenues
1083000
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-9798000
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
CY2014Q2 us-gaap Revenues
Revenues
736000
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-11973000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
13749000
CY2013Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2013Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2013Q3 us-gaap Revenues
Revenues
6118000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
12742000
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2013Q4 us-gaap Revenues
Revenues
5454000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-1927000
CY2013Q4 us-gaap Operating Expenses
OperatingExpenses
10116000
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
CY2014Q4 us-gaap Revenues
Revenues
4219000
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-22168000
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
13752000

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