$SYRE
Spyre Therapeutics, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021054228 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $1.399M $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.839M $5.670M $4.690M
YoY Change 20.62% 31.55% 22.77%
% of Gross Profit
Research & Development $14.85M $12.45M $16.87M
YoY Change 19.3% -30.21% 13.91%
% of Gross Profit
Depreciation & Amortization $412.0K $250.0K $230.0K
YoY Change 64.8% 150.0% 109.09%
% of Gross Profit
Operating Expenses $21.69M $18.12M $21.56M
YoY Change 19.71% -18.19% 15.78%
Operating Profit -$20.29M -$18.12M -$21.56M
YoY Change 11.97% -18.17% 15.78%
Interest Expense $36.00K $90.00K $160.0K
YoY Change -60.0% -84.75% -74.19%
% of Operating Profit
Other Income/Expense, Net -$24.00K $0.00 $142.0K
YoY Change -100.0% -76.45%
Pretax Income -$20.28M -$18.03M -$21.42M
YoY Change 12.48% -16.41% 18.86%
Income Tax $26.00K
% Of Pretax Income
Net Earnings -$20.31M -$18.03M -$21.42M
YoY Change 12.61% -16.41% 18.86%
Net Earnings / Revenue -1451.54%
Basic Earnings Per Share -$0.31
Diluted Earnings Per Share -$308.7K -$289.7K -$404.6K
COMMON SHARES
Basic Shares Outstanding 65.79M 44.60M
Diluted Shares Outstanding 65.79M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.3M $141.5M $157.7M
YoY Change -19.23% 56.85% 49.45%
Cash & Equivalents $26.50M $55.72M $65.71M
Short-Term Investments $87.76M $85.75M $92.02M
Other Short-Term Assets $5.086M $4.400M $4.100M
YoY Change 15.59% 12.82% -6.82%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $117.5M $144.4M $161.9M
YoY Change -18.62% 55.94% 47.24%
LONG-TERM ASSETS
Property, Plant & Equipment $8.813M $5.216M $4.896M
YoY Change 68.96% -11.59% 431.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.734M $122.0K $92.00K
YoY Change 2140.98% 7.02% -23.33%
Total Long-Term Assets $11.55M $11.23M $11.05M
YoY Change 2.8% 49.84% 46.12%
TOTAL ASSETS
Total Short-Term Assets $117.5M $144.4M $161.9M
Total Long-Term Assets $11.55M $11.23M $11.05M
Total Assets $129.1M $155.6M $172.9M
YoY Change -17.07% 55.48% 47.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.863M $2.295M $4.151M
YoY Change -18.82% -5.59% 52.39%
Accrued Expenses $13.77M $12.10M $11.70M
YoY Change 13.83% -6.2% 13.59%
Deferred Revenue $6.405M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.43M $14.35M $15.89M
YoY Change 42.37% -6.8% 22.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $6.552M $5.000M $68.00K
YoY Change 31.04% 13057.89% 51.11%
Total Long-Term Liabilities $6.552M $5.000M $68.00K
YoY Change 31.04% 13057.89% 51.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.43M $14.35M $15.89M
Total Long-Term Liabilities $6.552M $5.000M $68.00K
Total Liabilities $26.98M $19.40M $20.65M
YoY Change 39.07% -4.44% 15.52%
SHAREHOLDERS EQUITY
Retained Earnings -$321.4M -$253.3M -$235.3M
YoY Change 26.89% 45.91% 54.8%
Common Stock $387.5M
YoY Change 54.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $102.1M $136.3M $152.3M
YoY Change
Total Liabilities & Shareholders Equity $129.1M $155.6M $172.9M
YoY Change -17.06% 55.45% 47.17%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$20.31M -$18.03M -$21.42M
YoY Change 12.61% -16.41% 18.86%
Depreciation, Depletion And Amortization $412.0K $250.0K $230.0K
YoY Change 64.8% 150.0% 109.09%
Cash From Operating Activities -$17.00M -$17.53M -$19.42M
YoY Change -3.02% 1.86% 18.56%
INVESTING ACTIVITIES
Capital Expenditures -$93.00K -$570.0K -$1.320M
YoY Change -83.68% 307.14% 2100.0%
Acquisitions
YoY Change
Other Investing Activities $5.870M $6.350M -$55.43M
YoY Change -7.56% -60.68% 32.13%
Cash From Investing Activities $5.777M $5.790M -$56.76M
YoY Change -0.22% -63.84% 35.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $129.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.143M 250.0K 129.3M
YoY Change 357.2% -19.35% -40506.25%
NET CHANGE
Cash From Operating Activities -17.00M -17.53M -19.42M
Cash From Investing Activities 5.777M 5.790M -56.76M
Cash From Financing Activities 1.143M 250.0K 129.3M
Net Change In Cash -10.08M -11.49M 53.12M
YoY Change -12.27% 1191.01% -190.46%
FREE CASH FLOW
Cash From Operating Activities -$17.00M -$17.53M -$19.42M
Capital Expenditures -$93.00K -$570.0K -$1.320M
Free Cash Flow -$16.91M -$16.96M -$18.10M
YoY Change -0.31% -0.64% 10.91%

Facts In Submission

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<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Arial;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-family:Arial;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances, the results of which form the basis for making judgements about the carrying value of assets, liabilities, and equity and the amount of revenues and expenses. Actual results could differ significantly from those estimates.</p>
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CY2020Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
56178000
CY2021Q3 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
87763000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
56178000
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1419000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1074000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
960000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
464000
CY2021Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
13359000
CY2020Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
13870000
CY2020Q2 agle Reduction In Exercise Price Of Each Warrant From Public Offering Price For Pre Funded Warrants Per Share
ReductionInExercisePriceOfEachWarrantFromPublicOfferingPriceForPreFundedWarrantsPerShare
0.0001
CY2020Q2 agle Maximum Ownership Percentage For Outstanding Warrants To Purchase Shares Of Common Stock To Be Exercised
MaximumOwnershipPercentageForOutstandingWarrantsToPurchaseSharesOfCommonStockToBeExercised
0.0499
CY2020Q2 agle Ownership Percentage For Outstanding Warrants To Purchase Shares Of Common Stock To Be Exercised To Certain Holders
OwnershipPercentageForOutstandingWarrantsToPurchaseSharesOfCommonStockToBeExercisedToCertainHolders
0.0999
agle Period After Notice Received By Company Maximum Ownership Percentage To Be Effective Description
PeriodAfterNoticeReceivedByCompanyMaximumOwnershipPercentageToBeEffectiveDescription
The revised Maximum Ownership Percentage would be effective 61 days after the notice is received by the Company
us-gaap Reimbursement From Limited Partnership Investment
ReimbursementFromLimitedPartnershipInvestment
3000000.0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21500000
agle Contract With Customer Liability Deductions Through Contracts Acquired
ContractWithCustomerLiabilityDeductionsThroughContractsAcquired
15095000
CY2021Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6405000
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0

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