$SLDB
Solid Biosciences Inc.

2018 Q3 Form 10-Q Financial Statement

#000119312518245070 Filed on August 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.470M $4.580M $3.280M
YoY Change 45.13% 39.63%
% of Gross Profit
Research & Development $14.68M $13.59M $8.607M
YoY Change 38.24% 57.94%
% of Gross Profit
Depreciation & Amortization $545.0K $313.0K $64.00K
YoY Change 395.45% 389.06%
% of Gross Profit
Operating Expenses $19.15M $18.18M $11.89M
YoY Change 39.82% 52.92%
Operating Profit -$19.15M -$18.18M -$11.89M
YoY Change 39.82% 52.92%
Interest Expense $90.00K $80.00K $70.00K
YoY Change -325.0% 14.29%
% of Operating Profit
Other Income/Expense, Net $40.00K $198.0K $576.0K
YoY Change -82.61% -65.63%
Pretax Income -$19.02M -$17.98M -$11.31M
YoY Change 40.78% 58.97%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$19.02M -$17.98M -$11.31M
YoY Change 40.84% 58.96%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$550.7K -$507.3K -$350.9K
COMMON SHARES
Basic Shares Outstanding 35.43M shares 35.46M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $145.4M $162.8M
YoY Change 391.22%
Cash & Equivalents $129.1M $145.8M $32.72M
Short-Term Investments $16.20M $16.90M
Other Short-Term Assets $3.100M $1.700M
YoY Change 138.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $148.4M $164.5M
YoY Change 381.92%
LONG-TERM ASSETS
Property, Plant & Equipment $7.935M $6.551M
YoY Change 245.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $209.0K $209.0K
YoY Change -91.29%
Total Long-Term Assets $8.381M $6.997M
YoY Change 82.2%
TOTAL ASSETS
Total Short-Term Assets $148.4M $164.5M
Total Long-Term Assets $8.381M $6.997M
Total Assets $156.8M $171.5M
YoY Change 342.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.804M $3.741M
YoY Change -24.94%
Accrued Expenses $5.833M $4.938M
YoY Change 26.8%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.64M $8.679M
YoY Change -10.61%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.102M $499.0K
YoY Change
Total Long-Term Liabilities $1.102M $499.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $10.64M $8.679M
Total Long-Term Liabilities $1.102M $499.0K
Total Liabilities $11.74M $9.178M
YoY Change -1.35%
SHAREHOLDERS EQUITY
Retained Earnings -$177.1M -$158.1M
YoY Change
Common Stock $322.2M $320.4M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $145.1M $162.3M
YoY Change
Total Liabilities & Shareholders Equity $156.8M $171.5M
YoY Change 342.97%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$19.02M -$17.98M -$11.31M
YoY Change 40.84% 58.96%
Depreciation, Depletion And Amortization $545.0K $313.0K $64.00K
YoY Change 395.45% 389.06%
Cash From Operating Activities -$15.29M -$16.33M -$9.600M
YoY Change 61.97% 70.1%
INVESTING ACTIVITIES
Capital Expenditures -$2.120M -$3.220M -$40.00K
YoY Change 27.71% 7950.0%
Acquisitions
YoY Change
Other Investing Activities $720.0K $730.0K $13.65M
YoY Change -112.74% -94.65%
Cash From Investing Activities -$1.400M -$2.490M $13.61M
YoY Change -80.85% -118.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -190.0K -560.0K
YoY Change -100.0% -66.07%
NET CHANGE
Cash From Operating Activities -15.29M -16.33M -9.600M
Cash From Investing Activities -1.400M -2.490M 13.61M
Cash From Financing Activities 0.000 -190.0K -560.0K
Net Change In Cash -16.69M -19.01M 3.450M
YoY Change -5.65% -651.01%
FREE CASH FLOW
Cash From Operating Activities -$15.29M -$16.33M -$9.600M
Capital Expenditures -$2.120M -$3.220M -$40.00K
Free Cash Flow -$13.17M -$13.11M -$9.560M
YoY Change 69.28% 37.13%

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Concentration of Credit Risk and of Significant Suppliers</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents. Periodically, the Company maintains deposits in accredited financial institutions in excess of federally insured limits. The Company maintains each of its cash balances with high-quality and accredited financial institutions and accordingly, such funds are not exposed to significant credit risk. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt"> The Company is dependent on third-party manufacturers to supply products for research and development activities of its programs, including clinical and <font style="WHITE-SPACE: nowrap">pre-clinical</font> testing. These programs could be adversely affected by a significant interruption in the supply of such drug substance products.</p> </div>
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Issuance Initial Public Offering
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dei Trading Symbol
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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sldb Available For Sale Securities Weighted Average Maturity Period
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sldb Effective Income Tax Rate Reconciliation Permanent Differences
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Depreciation
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us-gaap Earnings Per Share Basic And Diluted
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us-gaap General And Administrative Expense
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8660000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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-1606000
us-gaap Investment Income Interest
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114000
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us-gaap Nonoperating Income Expense
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Other Nonoperating Income Expense
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us-gaap Operating Expenses
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us-gaap Operating Income Loss
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Payments To Acquire Available For Sale Securities
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Share Based Compensation
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3717000
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
959000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10083502 shares
sldb Redemption Of Redeemable Interest From Noncontrolling Interest
RedemptionOfRedeemableInterestFromNoncontrollingInterest
1925000
sldb Proceeds From Issuance Of Preferred Units
ProceedsFromIssuanceOfPreferredUnits
24500000
sldb Redemption Of Preferred Units
RedemptionOfPreferredUnits
15685000
sldb Revaluation Of Preferred Unit Tranche Rights
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20000
sldb Revaluation Of Tranche Liabilities
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sldb Deferred Offering Costs Included In Accounts Payable And Accruals
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CY2017Q2 us-gaap Allocated Share Based Compensation Expense
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CY2017Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2017Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2017Q2 us-gaap Other Nonoperating Income Expense
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CY2017Q2 us-gaap Operating Expenses
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CY2017Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
8607000
CY2017Q2 us-gaap Revenues
Revenues
0
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17041311 shares
CY2017Q2 sldb Revaluation Of Preferred Unit Tranche Rights
RevaluationOfPreferredUnitTrancheRights
20000

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