$TSHA
Taysha Gene Therapies, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156459021056225 Filed on November 10, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $11.15M $3.980M $1.018M
YoY Change 180.23%
% of Gross Profit
Research & Development $39.53M $11.06M $3.062M
YoY Change 257.49%
% of Gross Profit
Depreciation & Amortization $166.0K $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $50.68M $15.04M $4.010M
YoY Change 236.95% 48419.35%
Operating Profit -$50.68M -$15.04M -$4.010M
YoY Change 236.95% 48419.35%
Interest Expense -$506.0K $1.000K -$27.00K
YoY Change -50700.0%
% of Operating Profit
Other Income/Expense, Net $0.00 -$1.000K -$17.21M
YoY Change -100.0%
Pretax Income -$51.19M -$15.04M -$26.65M
YoY Change 240.34%
Income Tax
% Of Pretax Income
Net Earnings -$51.19M -$15.04M -$21.22M
YoY Change 240.29% 48422.58%
Net Earnings / Revenue
Basic Earnings Per Share -$1.35
Diluted Earnings Per Share -$1.347M -$435.7K -$772.0K
COMMON SHARES
Basic Shares Outstanding 38.00M
Diluted Shares Outstanding 38.00M

Balance Sheet

Concept 2021 Q3 2020 Q3 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $188.8M $278.6M $11.20M
YoY Change -32.24%
Cash & Equivalents $188.8M $278.6M $11.20M
Short-Term Investments
Other Short-Term Assets $1.162M $600.0K $100.0K
YoY Change 93.67%
Inventory
Prepaid Expenses $604.0K
Receivables
Other Receivables
Total Short-Term Assets $197.2M $279.2M $11.30M
YoY Change -29.39%
LONG-TERM ASSETS
Property, Plant & Equipment $40.55M $28.00K $0.00
YoY Change 144732.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.319M
YoY Change
Total Long-Term Assets $43.87M $28.00K $0.00
YoY Change 156585.71%
TOTAL ASSETS
Total Short-Term Assets $197.2M $279.2M $11.30M
Total Long-Term Assets $43.87M $28.00K $0.00
Total Assets $241.0M $279.3M $11.30M
YoY Change -13.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.05M $8.837M $1.300M
YoY Change 149.53%
Accrued Expenses $21.16M $2.727M $1.600M
YoY Change 676.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $100.0K $100.0K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $43.21M $11.62M $20.10M
YoY Change 271.77%
LONG-TERM LIABILITIES
Long-Term Debt $27.81M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.015M
YoY Change
Total Long-Term Liabilities $30.83M $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $43.21M $11.62M $20.10M
Total Long-Term Liabilities $30.83M $0.00 $0.00
Total Liabilities $100.6M $11.62M $20.10M
YoY Change 765.86%
SHAREHOLDERS EQUITY
Retained Earnings -$185.3M -$42.81M
YoY Change 332.86%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $140.4M $267.6M -$26.79M
YoY Change
Total Liabilities & Shareholders Equity $241.0M $279.3M $11.30M
YoY Change -13.69%

Cashflow Statement

Concept 2021 Q3 2020 Q3 2020 Q2
OPERATING ACTIVITIES
Net Income -$51.19M -$15.04M -$21.22M
YoY Change 240.29% 48422.58%
Depreciation, Depletion And Amortization $166.0K $0.00 $0.00
YoY Change
Cash From Operating Activities -$31.93M -$6.710M -$4.170M
YoY Change 375.9%
INVESTING ACTIVITIES
Capital Expenditures -$3.502M -$30.00K
YoY Change 11573.33%
Acquisitions
YoY Change
Other Investing Activities -$500.0K $0.00 -$3.000M
YoY Change
Cash From Investing Activities -$4.002M -$30.00K -$3.000M
YoY Change 13240.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 29.98M 274.2M 18.37M
YoY Change -89.07%
NET CHANGE
Cash From Operating Activities -31.93M -6.710M -4.170M
Cash From Investing Activities -4.002M -30.00K -3.000M
Cash From Financing Activities 29.98M 274.2M 18.37M
Net Change In Cash -5.957M 267.4M 11.20M
YoY Change -102.23%
FREE CASH FLOW
Cash From Operating Activities -$31.93M -$6.710M -$4.170M
Capital Expenditures -$3.502M -$30.00K
Free Cash Flow -$28.43M -$6.680M
YoY Change 325.61%

Facts In Submission

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<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’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’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’s critical and significant accounting estimates, including assessment of impairment of long-lived assets.</p>
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CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q1 tsha Preferred Stock Tranche Liability
PreferredStockTrancheLiability
1100000
CY2020Q2 tsha Change In Fair Value Of Preferred Stock Tranche Liability
ChangeInFairValueOfPreferredStockTrancheLiability
17000000.0
CY2020Q3 tsha Mile Stone Shares Issued
MileStoneSharesIssued
4000000
CY2020Q2 tsha Amount Reclassified To Convertible Preferred Stock
AmountReclassifiedToConvertiblePreferredStock
18100
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5086000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1341000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13229000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1341000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-51187000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15042000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-124137000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-41693000
CY2021Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38003954
CY2020Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
11733170
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.31
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.73
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5809852
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3804453

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