2018 Q3 Form 10-Q Financial Statement
#000156459018026892 Filed on November 05, 2018
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. (“we,” “us,” “our” or the “Company”) 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> | ||
us-gaap |
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UseOfEstimates
|
<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’s actual results may differ from these estimates under different assumptions or conditions. </p></div> | ||
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | ||
dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
2005-10-11 | ||
dei |
Entity Incorporation State Country Name
EntityIncorporationStateCountryName
|
Delaware | ||
CY2018Q3 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
216000 | |
CY2017Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
221000 | |
us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
0 | ||
us-gaap |
Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
|
0 | ||
CY2018Q3 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
63928000 | |
CY2017Q4 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
108391000 | |
CY2018Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
3000 | |
CY2018Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
38000 | |
CY2017Q4 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
143000 | |
CY2018Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
63893000 | |
CY2017Q4 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
108248000 | |
CY2018Q3 | us-gaap |
Deposits Assets Current
DepositsAssetsCurrent
|
1925000 | |
CY2017Q4 | us-gaap |
Deposits Assets Current
DepositsAssetsCurrent
|
1286000 | |
CY2018Q3 | us-gaap |
Supplies
Supplies
|
2106000 | |
CY2017Q4 | us-gaap |
Supplies
Supplies
|
220000 | |
CY2018Q3 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
254000 | |
CY2017Q4 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
377000 | |
CY2018Q3 | sndx |
Reimbursable Costs
ReimbursableCosts
|
1142000 | |
CY2017Q4 | sndx |
Reimbursable Costs
ReimbursableCosts
|
1029000 | |
CY2018Q3 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
379000 | |
CY2017Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
192000 | |
CY2018Q3 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
340000 | |
CY2017Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
258000 | |
CY2018Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2321000 | |
CY2017Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
2393000 | |
CY2018Q3 | sndx |
Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
|
9043000 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
91000 | ||
sndx |
Stock Issued During Period Value At The Market Offering Net
StockIssuedDuringPeriodValueAtTheMarketOfferingNet
|
9438000 | ||
CY2017Q4 | sndx |
Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
|
9177000 | |
CY2018Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
331000 | |
CY2017Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
158000 | |
CY2018Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1737000 | |
CY2017Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1346000 | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4729000 | ||
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
7850 | ||
us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
4729000 | ||
us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
26000 | ||
us-gaap |
Adjustment To Additional Paid In Capital Income Tax Effect From Share Based Compensation Net
AdjustmentToAdditionalPaidInCapitalIncomeTaxEffectFromShareBasedCompensationNet
|
129000 | ||
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 |