$TSHA
Taysha Gene Therapies, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021026559 Filed on May 11, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1 2019 Q4
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.240M
YoY Change
% of Gross Profit
Research & Development $5.500M $3.000M
YoY Change 83.33%
% of Gross Profit
Depreciation & Amortization $32.00K $0.00
YoY Change
% of Gross Profit
Operating Expenses $32.09M $5.584M
YoY Change 474.68%
Operating Profit -$32.09M -$5.584M
YoY Change 474.68%
Interest Expense $66.00K $27.00K
YoY Change 144.44%
% of Operating Profit
Other Income/Expense, Net $66.00K $153.0K
YoY Change -56.86%
Pretax Income -$32.02M
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings -$32.02M -$5.431M
YoY Change 489.65%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$865.6K
COMMON SHARES
Basic Shares Outstanding 37.76M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $228.7M
YoY Change
Cash & Equivalents $228.7M $16.33M $0.00
Short-Term Investments
Other Short-Term Assets $839.0K
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $239.6M $15.00K
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $2.500M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $700.0K
YoY Change
Total Long-Term Assets $3.200M $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $239.6M $15.00K
Total Long-Term Assets $3.200M $0.00
Total Assets $242.8M $15.00K
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.100M
YoY Change
Accrued Expenses $14.90M $150.0K
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $19.00M $150.0K
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $1.000M
YoY Change
Total Long-Term Liabilities $1.000M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $19.00M $150.0K
Total Long-Term Liabilities $1.000M
Total Liabilities $20.00M $150.0K
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$1.115M
YoY Change
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $222.9M -$5.566M -$135.0K
YoY Change
Total Liabilities & Shareholders Equity $242.8M $15.00K
YoY Change

Cashflow Statement

Concept 2021 Q1 2020 Q1 2019 Q4
OPERATING ACTIVITIES
Net Income -$32.02M -$5.431M
YoY Change 489.65%
Depreciation, Depletion And Amortization $32.00K $0.00
YoY Change
Cash From Operating Activities -$22.04M -$1.699M
YoY Change 1196.94%
INVESTING ACTIVITIES
Capital Expenditures $534.0K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$534.0K $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 18.03M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -22.04M -1.699M
Cash From Investing Activities -534.0K 0.000
Cash From Financing Activities 0.000 18.03M
Net Change In Cash -22.57M 16.33M
YoY Change -238.22%
FREE CASH FLOW
Cash From Operating Activities -$22.04M -$1.699M
Capital Expenditures $534.0K $0.00
Free Cash Flow -$22.57M -$1.699M
YoY Change 1228.37%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q1 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-8000
CY2021Q1 us-gaap Deferred Offering Costs
DeferredOfferingCosts
128000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1872000
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
153000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-32024000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-5431000
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.87
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.50
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
36992377
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
10894999
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
0
CY2021Q1 tsha Increase Decrease In Accrued Expense And Other Liabilities
IncreaseDecreaseInAccruedExpenseAndOtherLiabilities
3183000
CY2020Q1 tsha Increase Decrease In Accrued Expense And Other Liabilities
IncreaseDecreaseInAccruedExpenseAndOtherLiabilities
907000
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2021Q1 us-gaap Operating Expenses
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CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
5584000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-32090000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-5584000
CY2020Q1 tsha Change In Fair Value Of Preferred Stock Tranche Liability
ChangeInFairValueOfPreferredStockTrancheLiability
180000
CY2021Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
66000
CY2020Q1 us-gaap Interest Expense
InterestExpense
27000
CY2021Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3594000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-135000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
-5566000
CY2020Q1 tsha Temporary Equity Stock Issuance Of Preferred Stock Tranche Liability
TemporaryEquityStockIssuanceOfPreferredStockTrancheLiability
1050000
CY2021Q1 us-gaap Profit Loss
ProfitLoss
-32024000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-5431000
CY2021Q1 us-gaap Depreciation
Depreciation
32000
CY2020Q1 us-gaap Depreciation
Depreciation
0
CY2021Q1 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
5500000
CY2020Q1 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
3000000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3594000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
0
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4184000
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
0
CY2020Q1 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
5000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-22035000
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1699000
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
534000
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-534000
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0
CY2020Q1 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
18000000
CY2020Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
1673000
CY2020Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1646000
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
18027000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-22569000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
16328000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
251253000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
0
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
228684000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
16328000
CY2021Q1 tsha Research And Development License Not Yet Paid
ResearchAndDevelopmentLicenseNotYetPaid
5500000
CY2020Q1 tsha Research And Development License Not Yet Paid
ResearchAndDevelopmentLicenseNotYetPaid
3000000
CY2021Q1 tsha Property And Equipment In Accounts Payable And Accrued Expenses
PropertyAndEquipmentInAccountsPayableAndAccruedExpenses
1101000
CY2020Q1 tsha Property And Equipment In Accounts Payable And Accrued Expenses
PropertyAndEquipmentInAccountsPayableAndAccruedExpenses
0
CY2021Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
607000
CY2020Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
128000
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0
CY2020Q1 tsha Allocation Of Preferred Stock Tranche Liability
AllocationOfPreferredStockTrancheLiability
1050000
CY2020Q1 us-gaap Stock Issued1
StockIssued1
430000
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:6.67%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The most significant estimates and assumptions in the Company&#8217;s financial statements relate to the determination of the fair value of the common stock prior to the IPO (as an input into stock-based compensation), estimating preclinical manufacturing accruals and accrued or prepaid research and development expenses, and the valuation of the preferred stock tranche liability. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially from these estimates. To the extent there are material differences between the estimates and actual results, the Company&#8217;s future results of operations will be affected. In response to the ongoing and rapidly evolving COVID-19 pandemic, management considered the impact of the estimated economic implications on the Company&#8217;s critical and significant accounting estimates, including assessment of impairment of long-lived assets.</p>
CY2021Q1 dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2020-02-13
CY2021Q1 us-gaap Cash
Cash
228700000
CY2021Q1 tsha Prepaid Research And Development Contracts
PrepaidResearchAndDevelopmentContracts
6281000
CY2020Q4 tsha Prepaid Research And Development Contracts
PrepaidResearchAndDevelopmentContracts
2462000
CY2021Q1 us-gaap Prepaid Insurance
PrepaidInsurance
1654000
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
2480000
CY2021Q1 tsha Prepaid Bonus
PrepaidBonus
1115000
CY2020Q4 tsha Prepaid Bonus
PrepaidBonus
409000
CY2021Q1 tsha Prepaid Clinical Trial
PrepaidClinicalTrial
928000
CY2020Q4 tsha Prepaid Clinical Trial
PrepaidClinicalTrial
944000
CY2021Q1 us-gaap Other Assets Current
OtherAssetsCurrent
839000
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
331000
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2538000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
296000
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
41000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9000
CY2021Q1 tsha Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
5672000
CY2020Q4 tsha Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
2106000
CY2021Q1 tsha Accrued License Fees Current
AccruedLicenseFeesCurrent
5500000
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1427000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1766000
CY2021Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1119000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
999000
CY2021Q1 tsha Accrued Construction In Progress Current
AccruedConstructionInProgressCurrent
1029000
CY2020Q4 tsha Accrued Construction In Progress Current
AccruedConstructionInProgressCurrent
173000
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
128000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
91000
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
32685000
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2020Q3 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
15647052
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q1 tsha Preferred Stock Tranche Liability
PreferredStockTrancheLiability
1100000
CY2021Q1 tsha Change In Fair Value Of Preferred Stock Tranche Liability
ChangeInFairValueOfPreferredStockTrancheLiability
200000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3594000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-32024000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5431000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5905253
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6000000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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