2024 Q3 Form 10-Q Financial Statement

#000095017024091837 Filed on August 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $19.75M $20.14M
YoY Change 6.81% 0.09%
% of Gross Profit
Research & Development $76.62M $91.99M
YoY Change -5.98% 4.3%
% of Gross Profit
Depreciation & Amortization $1.367M $1.368M
YoY Change 0.51% 2.55%
% of Gross Profit
Operating Expenses $96.37M $100.8M
YoY Change -2.44% -5.1%
Operating Profit -$96.37M -$100.8M
YoY Change 30.98% -4.99%
Interest Expense $8.274M $8.547M
YoY Change 5.4% 13.07%
% of Operating Profit
Other Income/Expense, Net $8.264M $8.545M
YoY Change 5.37% 13.25%
Pretax Income -$88.11M -$92.21M
YoY Change 34.04% -6.39%
Income Tax
% Of Pretax Income
Net Earnings -$88.11M -$92.21M
YoY Change 34.03% -6.39%
Net Earnings / Revenue
Basic Earnings Per Share -$0.63 -$0.69
Diluted Earnings Per Share -$0.63 -$0.69
COMMON SHARES
Basic Shares Outstanding 133.9M 132.7M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $839.6M $688.4M
YoY Change 3.58% -21.01%
Cash & Equivalents $152.4M $134.1M
Short-Term Investments $687.3M $554.3M
Other Short-Term Assets $6.795M $5.732M
YoY Change 84.75% -54.86%
Inventory
Prepaid Expenses $18.73M $10.12M
Receivables
Other Receivables
Total Short-Term Assets $865.1M $704.3M
YoY Change 4.01% -20.36%
LONG-TERM ASSETS
Property, Plant & Equipment $7.210M $8.350M
YoY Change -32.62% -88.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.119M $2.707M
YoY Change -21.52% 0.0%
Total Long-Term Assets $64.99M $68.28M
YoY Change -13.54% -12.09%
TOTAL ASSETS
Total Short-Term Assets $865.1M $704.3M
Total Long-Term Assets $64.99M $68.28M
Total Assets $930.1M $772.6M
YoY Change 2.55% -19.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.867M $11.17M
YoY Change -48.57% -24.43%
Accrued Expenses $33.22M $27.77M
YoY Change 5.49% -11.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $46.97M $45.04M
YoY Change -7.45% -37.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $44.29M $45.76M
YoY Change -43.08% -43.02%
Total Long-Term Liabilities $44.29M $45.76M
YoY Change -43.08% -43.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $46.97M $45.04M
Total Long-Term Liabilities $44.29M $45.76M
Total Liabilities $91.25M $90.81M
YoY Change -29.03% -40.22%
SHAREHOLDERS EQUITY
Retained Earnings -$1.662B -$1.600B
YoY Change 27.87% 23.08%
Common Stock $167.0K $133.0K
YoY Change 35.77% 9.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $838.9M $681.7M
YoY Change
Total Liabilities & Shareholders Equity $930.1M $772.6M
YoY Change 2.55% -19.69%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$88.11M -$92.21M
YoY Change 34.03% -6.39%
Depreciation, Depletion And Amortization $1.367M $1.368M
YoY Change 0.51% 2.55%
Cash From Operating Activities -$75.08M -$65.83M
YoY Change -0.42% -4.03%
INVESTING ACTIVITIES
Capital Expenditures $227.0K $11.00K
YoY Change -61.53% -99.27%
Acquisitions
YoY Change
Other Investing Activities -$125.9M $45.56M
YoY Change -275.03% -13.68%
Cash From Investing Activities -$126.2M $45.55M
YoY Change -276.77% -11.17%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 218.9M 1.542M
YoY Change 2213.84% -25.87%
NET CHANGE
Cash From Operating Activities -75.08M -65.83M
Cash From Investing Activities -126.2M 45.55M
Cash From Financing Activities 218.9M 1.542M
Net Change In Cash 17.64M -18.74M
YoY Change 224.94% 22.94%
FREE CASH FLOW
Cash From Operating Activities -$75.08M -$65.83M
Capital Expenditures $227.0K $11.00K
Free Cash Flow -$75.31M -$65.84M
YoY Change -0.89% -6.08%

Facts In Submission

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<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the fair value of contingent milestone payments in connection with the acquisition of ZebiAI Therapeutics, Inc. ("ZebiAI"), the determination of the transaction price and standalone selling price of performance obligations under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 606, </span><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Revenue from Contracts with Customers</span><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> ("ASC 606"), the accrual of research and development and manufacturing expenses, the valuation of equity instruments, and the incremental borrowing rate for determining operating lease assets and liabilities. Estimates are periodically reviewed in light of changes in circumstances, facts, and experience.</span><span style="color:#000000;white-space:pre-wrap;font-size:9pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
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us-gaap Common Stock Voting Rights
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