2020 Q3 Form 10-Q Financial Statement

#000156459020050861 Filed on November 05, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $1.639M $3.570M
YoY Change -54.09%
Cost Of Revenue $100.0K $100.0K
YoY Change 0.0%
Gross Profit $1.500M $3.400M
YoY Change -55.88%
Gross Profit Margin 91.52% 95.24%
Selling, General & Admin $35.10M $88.50M
YoY Change -60.34% 64.83%
% of Gross Profit 2340.0% 2602.94%
Research & Development $74.10M $102.1M
YoY Change -27.43% 36.05%
% of Gross Profit 4940.0% 3003.18%
Depreciation & Amortization $700.0K $700.0K
YoY Change 0.0% 133.33%
% of Gross Profit 46.67% 20.59%
Operating Expenses $108.8M $190.7M
YoY Change -42.96% 48.16%
Operating Profit -$107.2M -$187.2M
YoY Change -42.75% 45.39%
Interest Expense $1.300M $7.200M
YoY Change -81.94% 23.78%
% of Operating Profit
Other Income/Expense, Net $100.0K $0.00
YoY Change -100.0%
Pretax Income -$105.7M -$180.0M
YoY Change -41.28% 46.46%
Income Tax
% Of Pretax Income
Net Earnings -$105.7M -$180.0M
YoY Change -41.24% 46.4%
Net Earnings / Revenue -6451.19% -5040.84%
Basic Earnings Per Share -$2.03
Diluted Earnings Per Share -$2.03 -$3.482M
COMMON SHARES
Basic Shares Outstanding 51.98M 51.70M
Diluted Shares Outstanding 51.98M 51.70M

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $670.9M $1.125B
YoY Change -40.34% 9.9%
Cash & Equivalents $186.6M $261.5M
Short-Term Investments $484.3M $863.1M
Other Short-Term Assets $30.30M $30.40M
YoY Change -0.33% 64.32%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $698.9M $1.153B
YoY Change -39.37% 10.85%
LONG-TERM ASSETS
Property, Plant & Equipment $7.404M $9.365M
YoY Change -20.94% 80.1%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.800M $3.818M
YoY Change 51.91% 100.95%
Total Long-Term Assets $39.70M $51.03M
YoY Change -22.2% 618.69%
TOTAL ASSETS
Total Short-Term Assets $698.9M $1.153B
Total Long-Term Assets $39.70M $51.03M
Total Assets $738.6M $1.204B
YoY Change -38.64% 14.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable -$24.90M $5.041M
YoY Change -593.95% -14.56%
Accrued Expenses $46.76M $78.13M
YoY Change -40.15% 491.87%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $59.70M $90.96M
YoY Change -34.36% 66.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $21.40M $340.0K
YoY Change 6194.12% -91.5%
Total Long-Term Liabilities $21.40M $340.0K
YoY Change 6194.12% -91.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.70M $90.96M
Total Long-Term Liabilities $21.40M $340.0K
Total Liabilities $81.00M $122.7M
YoY Change -33.96% 109.67%
SHAREHOLDERS EQUITY
Retained Earnings -$2.000B -$1.475B
YoY Change 35.6% 83.23%
Common Stock $2.555B
YoY Change 42.4%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $657.6M $1.081B
YoY Change
Total Liabilities & Shareholders Equity $738.6M $1.204B
YoY Change -38.64% 14.97%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income -$105.7M -$180.0M
YoY Change -41.24% 46.4%
Depreciation, Depletion And Amortization $700.0K $700.0K
YoY Change 0.0% 133.33%
Cash From Operating Activities -$91.00M -$128.7M
YoY Change -29.29% 60.47%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$2.000M
YoY Change -100.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $13.50M $209.7M
YoY Change -93.56% 18963.64%
Cash From Investing Activities $13.50M $207.8M
YoY Change -93.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.600M 14.00M
YoY Change -74.29% 75.0%
NET CHANGE
Cash From Operating Activities -91.00M -128.7M
Cash From Investing Activities 13.50M 207.8M
Cash From Financing Activities 3.600M 14.00M
Net Change In Cash -73.90M 93.10M
YoY Change -179.38% -228.95%
FREE CASH FLOW
Cash From Operating Activities -$91.00M -$128.7M
Capital Expenditures $0.00 -$2.000M
Free Cash Flow -$91.00M -$126.7M
YoY Change -28.18% 59.97%

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<p style="margin-top:9pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:11pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. <span style="Background-color:#FFFFFF;color:#212529;">The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition, including sales, expenses, reserves and allowances, manufacturing, clinical trials, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including developments related to the scope and duration of the pandemic; the timing, extent and frequency of surges in the number of cases of COVID-19; new information that may emerge concerning COVID-19; and the actions taken to contain the COVID-19 pandemic. The Company has made estimates of the impact of the COVID-19 pandemic within its consolidated financial statements, and there may be changes to those estimates in future periods. </span>Actual results could differ from those estimates.</p>
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