2018 Q3 Form 10-Q Financial Statement

#000156459018026892 Filed on November 05, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $379.0K $305.0K
YoY Change 24.26% 0.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.130M $3.560M
YoY Change 16.01% 8.87%
% of Gross Profit
Research & Development $14.10M $12.19M
YoY Change 15.65% -0.7%
% of Gross Profit
Depreciation & Amortization $150.0K
YoY Change
% of Gross Profit
Operating Expenses $18.22M $15.75M
YoY Change 15.68% 1.34%
Operating Profit -$17.84M -$15.45M
YoY Change 15.51% 1.37%
Interest Expense $488.0K $411.0K
YoY Change 18.73% 53.36%
% of Operating Profit
Other Income/Expense, Net $503.0K $358.0K
YoY Change 40.5% 33.09%
Pretax Income -$17.34M -$15.09M
YoY Change 14.91% 0.8%
Income Tax
% Of Pretax Income
Net Earnings -$17.34M -$15.09M
YoY Change 14.91% 0.79%
Net Earnings / Revenue -4574.67% -4946.89%
Basic Earnings Per Share
Diluted Earnings Per Share -$680.8K -$678.5K
COMMON SHARES
Basic Shares Outstanding 23.36M 22.22M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $91.50M $121.5M
YoY Change -24.69% 4.74%
Cash & Equivalents $26.71M $20.73M
Short-Term Investments $64.80M $100.8M
Other Short-Term Assets $4.100M $1.900M
YoY Change 115.79% 90.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $95.85M $124.0M
YoY Change -22.69% 5.72%
LONG-TERM ASSETS
Property, Plant & Equipment $396.0K $286.0K
YoY Change 38.46% 1.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $225.0K $236.0K
YoY Change -4.66% 31.84%
Total Long-Term Assets $621.0K $522.0K
YoY Change 18.97% 12.99%
TOTAL ASSETS
Total Short-Term Assets $95.85M $124.0M
Total Long-Term Assets $621.0K $522.0K
Total Assets $96.47M $124.5M
YoY Change -22.51% 5.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.180M $2.246M
YoY Change 41.59% 11.74%
Accrued Expenses $12.30M $10.70M
YoY Change 14.95% 81.36%
Deferred Revenue $1.517M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.02M $14.21M
YoY Change 19.77% 55.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $148.0K $267.0K
YoY Change -44.57% 19.73%
Total Long-Term Liabilities $15.18M $13.57M
YoY Change 11.83% -7.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.02M $14.21M
Total Long-Term Liabilities $15.18M $13.57M
Total Liabilities $32.19M $27.78M
YoY Change 15.89% 16.25%
SHAREHOLDERS EQUITY
Retained Earnings -$420.6M -$347.0M
YoY Change 21.2% 17.84%
Common Stock $2.000K $443.7M
YoY Change -100.0% 14.29%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $64.27M $96.71M
YoY Change
Total Liabilities & Shareholders Equity $96.47M $124.5M
YoY Change -22.51% 5.75%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$17.34M -$15.09M
YoY Change 14.91% 0.79%
Depreciation, Depletion And Amortization $150.0K
YoY Change
Cash From Operating Activities -$18.47M -$10.18M
YoY Change 81.43% -11.09%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$40.00K
YoY Change -100.0% -20.0%
Acquisitions
YoY Change
Other Investing Activities $3.510M $6.960M
YoY Change -49.57% -14.18%
Cash From Investing Activities $3.510M $6.920M
YoY Change -49.28% -14.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.460M 1.010M
YoY Change 836.63% -40.94%
NET CHANGE
Cash From Operating Activities -18.47M -10.18M
Cash From Investing Activities 3.510M 6.920M
Cash From Financing Activities 9.460M 1.010M
Net Change In Cash -5.500M -2.250M
YoY Change 144.44% 33.14%
FREE CASH FLOW
Cash From Operating Activities -$18.47M -$10.18M
Capital Expenditures $0.00 -$40.00K
Free Cash Flow -$18.47M -$10.14M
YoY Change 82.15% -11.05%

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<div> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of Business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Syndax Pharmaceuticals, Inc. (&#8220;we,&#8221; &#8220;us,&#8221; &#8220;our&#8221; or the &#8220;Company&#8221;) is a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies. We were incorporated in Delaware in 2005. We base our operations in Waltham, Massachusetts and we operate in one segment.</p></div>
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<div> <p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.54%;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates<font style="font-weight:bold;"> </font></p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;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 U.S. 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 costs and expenses during the reporting period. The Company bases estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. The Company evaluates its estimates and assumptions on an ongoing basis. The Company&#8217;s actual results may differ from these estimates under different assumptions or conditions. </p></div>
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sndx Cumulative Effects Adjustment From Adoption Of New Accounting Standard
CumulativeEffectsAdjustmentFromAdoptionOfNewAccountingStandard
649000
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
16780000
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
16780000
CY2018Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
sndx Tax Cuts And Jobs Act Of2017 Accounting Complete
TaxCutsAndJobsActOf2017AccountingComplete
true
CY2017Q4 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
0
CY2017Q4 sndx Tax Cuts And Jobs Act Transition Tax For Accumulated Foreign Earnings Liability
TaxCutsAndJobsActTransitionTaxForAccumulatedForeignEarningsLiability
0

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