2023 Q4 Form 10-Q Financial Statement

#000095017023061521 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $13.05M $2.200M
YoY Change -28.31% -98.05%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.648M $7.900M
YoY Change 8.93% -0.05%
% of Gross Profit
Research & Development $35.27M $32.71M
YoY Change 17.98% 4.7%
% of Gross Profit
Depreciation & Amortization $506.0K $500.0K
YoY Change 11.21% 3.31%
% of Gross Profit
Operating Expenses $43.91M $40.58M
YoY Change 16.08% 3.66%
Operating Profit -$38.42M
YoY Change -152.34%
Interest Expense $3.073M $3.300M
YoY Change 2.81% 53.27%
% of Operating Profit
Other Income/Expense, Net -$46.00K $3.240M
YoY Change -453.85% 53.12%
Pretax Income -$27.84M -$35.18M
YoY Change 67.41% -146.58%
Income Tax $190.0K -$16.30M
% Of Pretax Income
Net Earnings -$28.03M -$18.88M
YoY Change -11.46% -125.02%
Net Earnings / Revenue -214.84% -858.14%
Basic Earnings Per Share -$0.45
Diluted Earnings Per Share -$0.67 -$0.45
COMMON SHARES
Basic Shares Outstanding 42.13M 42.09M
Diluted Shares Outstanding 42.10M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $223.6M $250.1M
YoY Change -34.98% 61.16%
Cash & Equivalents $111.3M $107.4M
Short-Term Investments $112.4M $142.7M
Other Short-Term Assets $4.749M $5.600M
YoY Change -16.9% -0.62%
Inventory
Prepaid Expenses $4.749M $5.551M
Receivables
Other Receivables $4.499M $3.731M
Total Short-Term Assets $243.7M $275.1M
YoY Change -31.16% -29.57%
LONG-TERM ASSETS
Property, Plant & Equipment $4.215M $4.722M
YoY Change -0.31% 0.83%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $396.0K $397.0K
YoY Change -20.32% -20.12%
Total Long-Term Assets $10.21M $11.31M
YoY Change 1.16% -39.04%
TOTAL ASSETS
Total Short-Term Assets $243.7M $275.1M
Total Long-Term Assets $10.21M $11.31M
Total Assets $253.9M $286.4M
YoY Change -30.26% -30.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.400M $5.438M
YoY Change 420.61% -41.81%
Accrued Expenses $26.26M $23.00M
YoY Change 11.54% 31.53%
Deferred Revenue $10.22M $20.47M
YoY Change -80.75% -41.15%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $39.08M $48.97M
YoY Change -50.29% -20.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.740M $4.100M
YoY Change -53.86% -90.12%
Total Long-Term Liabilities $2.740M $4.100M
YoY Change -53.86% -90.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $39.08M $48.97M
Total Long-Term Liabilities $2.740M $4.100M
Total Liabilities $41.82M $53.04M
YoY Change -50.54% -48.7%
SHAREHOLDERS EQUITY
Retained Earnings -$333.1M -$305.1M
YoY Change 39.2% 46.92%
Common Stock $545.2M $538.7M
YoY Change 4.99% 4.81%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $212.1M $233.4M
YoY Change
Total Liabilities & Shareholders Equity $253.9M $286.4M
YoY Change -30.26% -30.0%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$28.03M -$18.88M
YoY Change -11.46% -125.02%
Depreciation, Depletion And Amortization $506.0K $500.0K
YoY Change 11.21% 3.31%
Cash From Operating Activities -$28.16M -$32.87M
YoY Change -5.0% -137.29%
INVESTING ACTIVITIES
Capital Expenditures $398.0K $0.00
YoY Change -123.14% -100.0%
Acquisitions
YoY Change
Other Investing Activities $32.28M $24.50M
YoY Change -0.19% -111.74%
Cash From Investing Activities $31.88M $24.50M
YoY Change -6.4% -111.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 105.0K 290.0K
YoY Change -36.36% 7.81%
NET CHANGE
Cash From Operating Activities -28.16M -32.87M
Cash From Investing Activities 31.88M 24.50M
Cash From Financing Activities 105.0K 290.0K
Net Change In Cash 3.828M -8.080M
YoY Change -16.53% -93.29%
FREE CASH FLOW
Cash From Operating Activities -$28.16M -$32.87M
Capital Expenditures $398.0K $0.00
Free Cash Flow -$28.55M -$32.87M
YoY Change 2.28% -137.17%

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dei Entity Incorporation Date Of Incorporation
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<p style="text-indent:0;font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in consolidated financial statements and accompanying notes. Significant estimates and assumptions reflected in these unaudited condensed consolidated financial statements include, but are not limited to, estimates related to revenue recognition, accrued research and development expenses, share-based compensation, right-of-use assets and lease liabilities and income taxes. The Company bases its estimates on historical experience and other market specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results could differ from those estimates. Changes in estimates are recorded in the period in which they become known.</span></p>
CY2023Q3 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
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DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
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us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
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DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
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CY2023Q3 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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UnrealizedGainLossOnDerivatives
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UnrealizedGainLossOnDerivatives
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us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
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CY2023Q3 rptx Fair Value Assets Transfers Between All Levels
FairValueAssetsTransfersBetweenAllLevels
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IncomeTaxReceivable
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CY2023Q3 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
15700000
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IncomeTaxesReceivableNoncurrent
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2023Q3 rptx Research And Development Tax Credits Receivable
ResearchAndDevelopmentTaxCreditsReceivable
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ResearchAndDevelopmentTaxCreditsReceivable
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ReceivablesLongTermContractsOrPrograms
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OtherReceivablesNetCurrentOther
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OtherReceivablesNetCurrentOther
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OtherReceivablesNetCurrent
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EmployeeRelatedLiabilitiesCurrent
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EmployeeRelatedLiabilitiesCurrent
5616000
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AccruedResearchAndDevelopmentExpenseCurrent
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AccruedResearchAndDevelopmentExpenseCurrent
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AccruedProfessionalFeesCurrent
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OtherLiabilitiesCurrent
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OtherLiabilitiesCurrent
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AccruedExpensesAndOtherLiabilitiesCurrent
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CY2022Q4 rptx Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
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CY2023Q3 rptx Revenue From Collaboration Agreements
RevenueFromCollaborationAgreements
2159000
CY2022Q3 rptx Revenue From Collaboration Agreements
RevenueFromCollaborationAgreements
112545000
rptx Revenue From Collaboration Agreements
RevenueFromCollaborationAgreements
38086000
rptx Revenue From Collaboration Agreements
RevenueFromCollaborationAgreements
113632000
rptx Number Of Operating Leases
NumberOfOperatingLeases
4
us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
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CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
593000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
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us-gaap Operating Lease Cost
OperatingLeaseCost
1779000
us-gaap Operating Lease Cost
OperatingLeaseCost
1845000
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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us-gaap Short Term Lease Cost
ShortTermLeaseCost
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us-gaap Short Term Lease Cost
ShortTermLeaseCost
24000
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
86000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
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us-gaap Variable Lease Cost
VariableLeaseCost
186000
us-gaap Variable Lease Cost
VariableLeaseCost
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CY2023Q3 us-gaap Lease Cost
LeaseCost
718000
CY2022Q3 us-gaap Lease Cost
LeaseCost
655000
us-gaap Lease Cost
LeaseCost
2051000
us-gaap Lease Cost
LeaseCost
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us-gaap Operating Lease Payments
OperatingLeasePayments
1799000
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OperatingLeasePayments
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
14.38
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2306940
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.73
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
17450
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.77
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
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CY2023Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2023Q3 us-gaap Net Income Loss
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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42102685
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41945617
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2023Q3 rptx Incremental Common Shares Attributable To Dilutive Effect Of Stock Options And Shares Issuable Under The Espp
IncrementalCommonSharesAttributableToDilutiveEffectOfStockOptionsAndSharesIssuableUnderTheEspp
0
CY2022Q3 rptx Incremental Common Shares Attributable To Dilutive Effect Of Stock Options And Shares Issuable Under The Espp
IncrementalCommonSharesAttributableToDilutiveEffectOfStockOptionsAndSharesIssuableUnderTheEspp
2231759
rptx Incremental Common Shares Attributable To Dilutive Effect Of Stock Options And Shares Issuable Under The Espp
IncrementalCommonSharesAttributableToDilutiveEffectOfStockOptionsAndSharesIssuableUnderTheEspp
0
rptx Incremental Common Shares Attributable To Dilutive Effect Of Stock Options And Shares Issuable Under The Espp
IncrementalCommonSharesAttributableToDilutiveEffectOfStockOptionsAndSharesIssuableUnderTheEspp
2257927
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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42077857
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.71
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.06

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