$TNYA
Tenaya Therapeutics Inc

2022 Q3 Form 10-Q Financial Statement

#000095017022016478 Filed on August 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.540M $7.743M $6.999M
YoY Change 40.78% 78.78% 99.12%
% of Gross Profit
Research & Development $23.76M $20.88M $24.16M
YoY Change 83.54% 91.42% 151.88%
% of Gross Profit
Depreciation & Amortization $2.087M $1.297M $966.0K
YoY Change 179.76% 76.46% 40.2%
% of Gross Profit
Operating Expenses $31.30M $28.62M $31.15M
YoY Change 71.03% 87.83% 137.73%
Operating Profit -$31.30M -$28.62M -$31.15M
YoY Change 71.03% 87.83% 137.73%
Interest Expense $596.0K $222.0K $99.00K
YoY Change 2491.3% 2366.67% 1000.0%
% of Operating Profit
Other Income/Expense, Net $602.0K $222.0K $98.00K
YoY Change 1484.21% 722.22% 1300.0%
Pretax Income -$30.70M -$28.40M -$31.06M
YoY Change 68.09% 86.7% 137.1%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$30.70M -$28.40M -$31.06M
YoY Change 68.09% 86.7% 137.1%
Net Earnings / Revenue
Basic Earnings Per Share -$0.74 -$0.69 -$0.75
Diluted Earnings Per Share -$0.74 -$687.5K -$752.5K
COMMON SHARES
Basic Shares Outstanding 41.36M 41.31M 41.29M
Diluted Shares Outstanding 41.36M 41.30M 41.27M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.5M $180.9M $210.5M
YoY Change -46.71% 61.7% 63.86%
Cash & Equivalents $34.49M $31.01M $25.97M
Short-Term Investments $115.0M $149.9M $184.5M
Other Short-Term Assets $7.617M $4.777M $3.328M
YoY Change 74.82% 257.56% 153.85%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $157.1M $185.7M $213.8M
YoY Change -44.85% 64.01% 64.76%
LONG-TERM ASSETS
Property, Plant & Equipment $52.19M $53.01M $49.38M
YoY Change 68.96% 112.82% 92.29%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.650M $3.710M $6.579M
YoY Change 31.8% -37.13% 52.12%
Total Long-Term Assets $69.24M $70.24M $67.72M
YoY Change 47.41% 60.82% 125.66%
TOTAL ASSETS
Total Short-Term Assets $157.1M $185.7M $213.8M
Total Long-Term Assets $69.24M $70.24M $67.72M
Total Assets $226.3M $255.9M $281.5M
YoY Change -31.79% 63.12% 76.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.312M $5.347M $8.888M
YoY Change -13.92% 6.51% 324.86%
Accrued Expenses $8.388M $9.498M $8.132M
YoY Change 49.6% 202.2% 121.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $17.72M $18.74M $19.10M
YoY Change 29.39% 91.23% 223.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $223.0K $217.0K $212.0K
YoY Change 132.29% 7133.33% -97.0%
Total Long-Term Liabilities $223.0K $217.0K $212.0K
YoY Change 132.29% 7133.33% -97.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $17.72M $18.74M $19.10M
Total Long-Term Liabilities $223.0K $217.0K $212.0K
Total Liabilities $29.98M $32.06M $32.40M
YoY Change 6.72% 29.83% 149.9%
SHAREHOLDERS EQUITY
Retained Earnings -$245.7M -$215.0M -$186.6M
YoY Change 89.88% 93.52%
Common Stock $4.000K $4.000K $4.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $196.3M $223.9M $249.1M
YoY Change
Total Liabilities & Shareholders Equity $226.3M $255.9M $281.5M
YoY Change -31.79% 63.12% 76.2%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$30.70M -$28.40M -$31.06M
YoY Change 68.09% 86.7% 137.1%
Depreciation, Depletion And Amortization $2.087M $1.297M $966.0K
YoY Change 179.76% 76.46% 40.2%
Cash From Operating Activities -$27.56M -$25.43M -$28.76M
YoY Change 65.43% 111.58% 82.13%
INVESTING ACTIVITIES
Capital Expenditures -$4.064M -$7.176M $8.595M
YoY Change -18.85% 121.76% 98.82%
Acquisitions
YoY Change
Other Investing Activities $35.10M $37.39M $25.03M
YoY Change -121.48%
Cash From Investing Activities $31.03M $30.21M $16.43M
YoY Change -118.43% -1033.56% -480.15%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 6.000K 260.0K 15.00K
YoY Change -100.0% -120.03% -99.93%
NET CHANGE
Cash From Operating Activities -27.56M -25.43M -28.76M
Cash From Investing Activities 31.03M 30.21M 16.43M
Cash From Financing Activities 6.000K 260.0K 15.00K
Net Change In Cash 3.484M 5.040M -12.31M
YoY Change -32.9% -130.45% 12587.63%
FREE CASH FLOW
Cash From Operating Activities -$27.56M -$25.43M -$28.76M
Capital Expenditures -$4.064M -$7.176M $8.595M
Free Cash Flow -$23.49M -$18.25M -$37.35M
YoY Change 101.67% 107.83% 85.71%

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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38676000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
129083000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
31409000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
112433000
tnya Deferred Offering Costs Related To Initial Public Offering Included In Accounts Payable And Accrued And Other Current Liabilities
DeferredOfferingCostsRelatedToInitialPublicOfferingIncludedInAccountsPayableAndAccruedAndOtherCurrentLiabilities
1094000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3060000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1954000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
31409000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
112433000
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-215000000.0
us-gaap Net Income Loss
NetIncomeLoss
-59500000
us-gaap Net Income Loss
NetIncomeLoss
-28300000
CY2022Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
180900000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and the disclosure of contingent assets and liabilities at the date of the condensed financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, management evaluates its estimates, including those related to clinical trials accrued liabilities, income tax valuation allowance and stock-based compensation. </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> Management bases its estimates on historical experience, the current economic environment, and on various other assumptions that are believed to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions.</span></p>
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9498000
tnya Impairment Charges On Marketable Securities Related To Other Than Temporary
ImpairmentChargesOnMarketableSecuritiesRelatedToOtherThanTemporary
0
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
9059000
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
64502000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
52445000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11489000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9425000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
53013000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
43020000
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1300000
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
700000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2300000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
1400000
CY2022Q2 tnya Accrued Compensation And Related Expenses
AccruedCompensationAndRelatedExpenses
3486000
CY2021Q4 tnya Accrued Compensation And Related Expenses
AccruedCompensationAndRelatedExpenses
3667000
CY2022Q2 tnya Accrued Property And Equipment
AccruedPropertyAndEquipment
2600000
CY2021Q4 tnya Accrued Property And Equipment
AccruedPropertyAndEquipment
2863000
CY2022Q2 tnya Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
2301000
CY2021Q4 tnya Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
2023000
CY2022Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
588000
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
162000
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
523000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
344000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
1170000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
832000
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
591000
us-gaap Operating Lease Cost
OperatingLeaseCost
1534000
us-gaap Operating Lease Cost
OperatingLeaseCost
960000
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
353000
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
269000
us-gaap Variable Lease Cost
VariableLeaseCost
591000
us-gaap Variable Lease Cost
VariableLeaseCost
490000
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
240000
CY2021Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
585000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
465000
CY2022Q2 us-gaap Lease Cost
LeaseCost
1425000
CY2021Q2 us-gaap Lease Cost
LeaseCost
1445000
us-gaap Lease Cost
LeaseCost
2590000
us-gaap Lease Cost
LeaseCost
2620000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2224000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8558000
tnya Cash Paid For Leases Included In Operating Cash Outflows
CashPaidForLeasesIncludedInOperatingCashOutflows
2720000
tnya Cash Paid For Leases Included In Operating Cash Outflows
CashPaidForLeasesIncludedInOperatingCashOutflows
2830000
tnya Cash Paid For Amounts Included In The Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInTheMeasurementOfLeaseLiabilities
1663000
tnya Cash Paid For Amounts Included In The Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInTheMeasurementOfLeaseLiabilities
1170000
CY2022Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P5Y8M12D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.092
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2630000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5223000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3910000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2445000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1386000
CY2022Q2 tnya Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
6905000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
22499000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5499000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
17000000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P10Y
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.96
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.97
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.96
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.97
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.03
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.028
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.034
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.008
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.010
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.016
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.034
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.006
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.010
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3012000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
502000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5106000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
934000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5248962
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
28258310

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