$RGLS
Regulus Therapeutics Inc.

2020 Q4 Form 10-Q Financial Statement

#000162828020015789 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $5.000M $5.000M $18.00K
YoY Change 27677.78% 27677.78% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.080M $2.060M $2.360M
YoY Change -11.86% -19.84% -14.18%
% of Gross Profit
Research & Development $3.850M $4.036M $1.970M
YoY Change 95.43% 65.41% -62.55%
% of Gross Profit
Depreciation & Amortization $110.0K $110.0K $130.0K
YoY Change -15.38% -15.38% -77.97%
% of Gross Profit
Operating Expenses $6.028M $6.095M $4.453M
YoY Change 35.37% 21.63% -44.34%
Operating Profit -$1.095M
YoY Change -78.07%
Interest Expense -$290.0K $466.0K -$460.0K
YoY Change -36.96% -9.86% -11.54%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.320M -$1.523M -$4.890M
YoY Change -73.01% -71.92% -42.47%
Income Tax $10.00K $1.000K $0.00
% Of Pretax Income
Net Earnings -$1.322M -$1.524M -$4.893M
YoY Change -72.98% -71.9% -42.86%
Net Earnings / Revenue -26.44% -30.48% -27183.33%
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$27.60K -$0.04 -$233.0K
COMMON SHARES
Basic Shares Outstanding 39.16M shares 38.14M shares 20.93M shares
Diluted Shares Outstanding 38.14M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.10M $17.80M $34.10M
YoY Change -8.8% 21.92% 145.32%
Cash & Equivalents $31.09M $17.84M $34.12M
Short-Term Investments
Other Short-Term Assets $1.826M $1.076M $1.221M
YoY Change 49.55% 200.56% 7.11%
Inventory
Prepaid Expenses $3.314M $3.388M $3.924M
Receivables $500.0K $4.000M $1.100M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $36.73M $26.31M $40.41M
YoY Change -9.1% 34.71% 109.42%
LONG-TERM ASSETS
Property, Plant & Equipment $472.0K $574.0K $921.0K
YoY Change -48.75% -44.91% -88.2%
Goodwill
YoY Change
Intangibles $125.0K $129.0K $266.0K
YoY Change -53.01% -57.43% -46.8%
Long-Term Investments
YoY Change
Other Assets $24.00K $333.0K $487.0K
YoY Change -95.07% -37.87% 49.39%
Total Long-Term Assets $874.0K $1.036M $1.674M
YoY Change -47.79% -44.92% -80.61%
TOTAL ASSETS
Total Short-Term Assets $36.73M $26.31M $40.41M
Total Long-Term Assets $874.0K $1.036M $1.674M
Total Assets $37.60M $27.34M $42.08M
YoY Change -10.64% 27.71% 50.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $535.0K $1.102M $1.321M
YoY Change -59.5% -27.55% -22.93%
Accrued Expenses $581.0K $1.089M $770.0K
YoY Change -24.55% -10.15% -52.62%
Deferred Revenue $0.00 $0.00 $6.000K
YoY Change -100.0% -100.0% -99.77%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.700M $13.60M $14.90M
YoY Change -68.46% -8.72% -10.24%
Total Short-Term Liabilities $11.58M $19.48M $21.60M
YoY Change -46.39% -7.26% -18.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $100.0K
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $0.00 $110.0K $468.0K
YoY Change -100.0% -79.96% 51.46%
Total Long-Term Liabilities $0.00 $110.0K $468.0K
YoY Change -100.0% -79.96% 51.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.58M $19.48M $21.60M
Total Long-Term Liabilities $0.00 $110.0K $468.0K
Total Liabilities $11.58M $19.59M $22.07M
YoY Change -47.53% -9.11% -34.68%
SHAREHOLDERS EQUITY
Retained Earnings -$427.0M -$425.7M -$411.3M
YoY Change 3.82% 4.75% 4.73%
Common Stock $453.1M $433.5M $431.3M
YoY Change 5.04% 6.69% 11.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.03M $7.754M $20.02M
YoY Change
Total Liabilities & Shareholders Equity $37.60M $27.34M $42.08M
YoY Change -10.64% 27.71% 50.68%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income -$1.322M -$1.524M -$4.893M
YoY Change -72.98% -71.9% -42.86%
Depreciation, Depletion And Amortization $110.0K $110.0K $130.0K
YoY Change -15.38% -15.38% -77.97%
Cash From Operating Activities $3.190M -$4.500M -$4.980M
YoY Change -164.06% -4.66% 24.19%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$60.00K
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$10.00K $0.00
YoY Change -133.33% -100.0%
Cash From Investing Activities $0.00 -$10.00K -$60.00K
YoY Change -100.0% -92.86% -100.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 10.05M -1.070M 24.51M
YoY Change -59.0% 1428.57% -1053.7%
NET CHANGE
Cash From Operating Activities 3.190M -4.500M -4.980M
Cash From Investing Activities 0.000 -10.00K -60.00K
Cash From Financing Activities 10.05M -1.070M 24.51M
Net Change In Cash 13.24M -5.580M 19.47M
YoY Change -32.0% 13.18% -14007.14%
FREE CASH FLOW
Cash From Operating Activities $3.190M -$4.500M -$4.980M
Capital Expenditures $0.00 $0.00 -$60.00K
Free Cash Flow $3.190M -$4.500M -$4.920M
YoY Change -164.84% -1.32% 22.69%

Facts In Submission

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ProceedsPaymentsfromSaleandAcquisitionofPropertyPlantandEquipmentNet
318000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
11000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
23000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-11000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
133000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
662000 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
15505000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
3000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2087000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
1000000 USD
us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
1977000 USD
rgls Paymentson Finance Leases
PaymentsonFinanceLeases
207000 USD
rgls Paymentson Finance Leases
PaymentsonFinanceLeases
196000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-542000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
15422000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-16278000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
711000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
34121000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13935000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
17843000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14646000 USD
us-gaap Interest Paid Net
InterestPaidNet
1066000 USD
us-gaap Interest Paid Net
InterestPaidNet
1263000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-1000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
-1000 USD
rgls Noncash Acquisition Of Property And Equipment
NoncashAcquisitionOfPropertyAndEquipment
0 USD
rgls Noncash Acquisition Of Property And Equipment
NoncashAcquisitionOfPropertyAndEquipment
61000 USD
rgls Financingfrom Sale Proceeds Debt Agreement Revenues
FinancingfromSaleProceedsDebtAgreementRevenues
455100000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
17800000 USD
us-gaap Use Of Estimates
UseOfEstimates
Use of EstimatesOur condensed financial statements are prepared in accordance with GAAP, which 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. An estimated loss contingency is accrued in our financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. 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. Though the impact of the COVID-19 pandemic to our business and operating results presents additional uncertainty, we continue to use the best information available to inform our critical accounting estimates.
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25813032 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25813032 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4908289 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2973525 shares
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
0 USD
CY2020Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
14900000 USD
CY2019Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
8909000 USD
CY2018Q4 rgls Upfront Payment Received
UpfrontPaymentReceived
2500000 USD
CY2019Q1 rgls Upfront Payment Received
UpfrontPaymentReceived
1800000 USD
CY2020Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
700000 USD
CY2020Q2 rgls Forgiveness Amount Threshold
ForgivenessAmountThreshold
500000 USD
CY2020Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
700000 USD
CY2020Q3 rgls Warrants Exercised
WarrantsExercised
0 shares
rgls Warrants Exercised
WarrantsExercised
0 shares
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2144000 USD
rgls Warrants Exercised
WarrantsExercised
0 shares
CY2019Q3 rgls Warrants Exercised
WarrantsExercised
0 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6800000 shares
CY2020Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
73663000 shares
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
692000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
536000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1816000 USD
CY2020Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
4000000.0 USD
CY2015Q3 us-gaap Net Rentable Area
NetRentableArea
59248 sqft
CY2015Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P96M
CY2015Q3 us-gaap Incentive From Lessor
IncentiveFromLessor
1400000 USD
CY2016Q2 rgls Tenant Improvement Allowance
TenantImprovementAllowance
8200000 USD
CY2019Q2 rgls Lease Payments Eliminated
LeasePaymentsEliminated
14400000 USD
rgls Noncash Leasehold Improvements
NoncashLeaseholdImprovements
5600000 USD
rgls Noncash Gain Dueto Reductionof Lease Liability
NoncashGainDuetoReductionofLeaseLiability
1300000 USD
CY2019Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
900000 USD
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
-1600000 USD
CY2019Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
442000 USD
CY2020Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
57000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
109000 USD
CY2020Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
72000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
551000 USD
CY2020Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
129000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
38000 USD
CY2020Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
513000 USD
CY2020Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
127000 USD
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
403000 USD
CY2020Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
127000 USD
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
110000 USD
CY2020Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
0 USD

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