$SPRO
Spero Therapeutics, Inc.

2018 Q1 Form 10-Q Financial Statement

#000156459018012933 Filed on May 10, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $1.153M $140.0K
YoY Change 723.57%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.040M $1.740M
YoY Change 74.71%
% of Gross Profit
Research & Development $8.925M $5.999M
YoY Change 48.77%
% of Gross Profit
Depreciation & Amortization $95.00K $87.00K
YoY Change 9.2%
% of Gross Profit
Operating Expenses $11.97M $7.739M
YoY Change 54.66% -8.06%
Operating Profit -$10.82M -$7.599M
YoY Change 42.33%
Interest Expense $172.0K -$11.00K
YoY Change -1663.64%
% of Operating Profit
Other Income/Expense, Net $172.0K $1.188M
YoY Change -85.52%
Pretax Income -$10.64M -$6.410M
YoY Change 65.99%
Income Tax
% Of Pretax Income
Net Earnings -$10.64M -$5.876M
YoY Change 81.14% -0.49%
Net Earnings / Revenue -923.16% -4197.14%
Basic Earnings Per Share
Diluted Earnings Per Share -$740.4K -$423.0K
COMMON SHARES
Basic Shares Outstanding 14.37M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.40M
YoY Change
Cash & Equivalents $52.55M $46.39M
Short-Term Investments $22.80M
Other Short-Term Assets $1.200M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $79.74M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.070M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K
YoY Change
Total Long-Term Assets $1.321M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $79.74M
Total Long-Term Assets $1.321M
Total Assets $81.06M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $982.0K
YoY Change
Accrued Expenses $4.500M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.834M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $300.0K
YoY Change
Total Long-Term Liabilities $300.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $5.834M
Total Long-Term Liabilities $300.0K
Total Liabilities $6.161M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$107.5M
YoY Change
Common Stock $14.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $74.54M
YoY Change
Total Liabilities & Shareholders Equity $81.06M
YoY Change

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income -$10.64M -$5.876M
YoY Change 81.14% -0.49%
Depreciation, Depletion And Amortization $95.00K $87.00K
YoY Change 9.2%
Cash From Operating Activities -$11.96M -$6.980M
YoY Change 71.36%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$22.83M $0.00
YoY Change
Cash From Investing Activities -$22.83M $0.00
YoY Change
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 43.00M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -11.96M -6.980M
Cash From Investing Activities -22.83M 0.000
Cash From Financing Activities 0.000 43.00M
Net Change In Cash -34.79M 36.02M
YoY Change -196.57%
FREE CASH FLOW
Cash From Operating Activities -$11.96M -$6.980M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2018Q1 us-gaap Comparability Of Prior Year Financial Data
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<div> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Interim Financial Information</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;">&nbsp;</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The consolidated balance sheet at December&#160;31, 2017 was derived from audited financial statements, but does not include all disclosures required by GAAP. The accompanying unaudited consolidated financial statements as of March&#160;31, 2018, and for three months ended March&#160;31, 2018 and 2017, have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;) for interim financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. These consolidated financial statements should be read in conjunction with the Company&#8217;s audited consolidated financial statements and the notes thereto for the year ended December&#160;31, 2017, included in the Company&#8217;s Annual Report on Form 10-K for the year ended December&#160;31, 2017,&#160;on file with SEC. In the opinion of management, all adjustments, consisting only of normal recurring adjustments necessary for a fair statement of the Company&#8217;s financial position as of March&#160;31, 2018, and results of operations for the three months ended March&#160;31, 2018 and 2017, and cash flows for the three months ended March&#160;31, 2018 and 2017 have been made. The results of operations for the three months ended March&#160;31, 2018 are not necessarily indicative of the results of operations that may be expected for the year ending December&#160;31, 2018.</p></div>
CY2018Q1 us-gaap Use Of Estimates
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<div> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;">&nbsp;</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, revenue recognition, the accrual for research and development expenses, the valuation of common shares prior to the Company&#8217;s completion of its IPO, the valuation of share-based awards and the valuation of derivative liabilities. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates, as there are changes in circumstances, facts and experience. Actual results may differ from those estimates or assumptions.</p></div>
CY2018Q1 spro Entity Incorporation Month And Year
EntityIncorporationMonthAndYear
2013-12
CY2018Q1 dei Entity Incorporation State Country Name
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0
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7230000
CY2018Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
200000
CY2017Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
200000
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2129082
CY2017Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
422399

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