$TSHA
Taysha Gene Therapies, Inc.

2021 Form 10-K Financial Statement

#000156459022012782 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2021 2020 Q4 2020
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $41.32M $6.110M $11.11M
YoY Change 271.95% 8446.15%
% of Gross Profit
Research & Development $9.750M $12.26M $31.89M
YoY Change -69.43% 3121.52%
% of Gross Profit
Depreciation & Amortization $500.0K $10.00K $9.000K
YoY Change 5455.56%
% of Gross Profit
Operating Expenses $173.3M $18.37M $43.00M
YoY Change 302.93% 3739.46%
Operating Profit -$173.3M -$43.00M
YoY Change 302.93%
Interest Expense $1.428M $50.00K $28.00K
YoY Change 5000.0%
% of Operating Profit
Other Income/Expense, Net -$1.256M $0.00 -$17.01M
YoY Change -92.62%
Pretax Income -$174.5M -$18.32M -$60.01M
YoY Change 190.82% 5258.04%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$174.5M -$18.32M -$60.01M
YoY Change 190.82% 5258.13%
Net Earnings / Revenue
Basic Earnings Per Share -$4.64
Diluted Earnings Per Share -$4.635M -$530.7K -$1.738M
COMMON SHARES
Basic Shares Outstanding 37.65M
Diluted Shares Outstanding 37.65M

Balance Sheet

Concept 2021 2020 Q4 2020
SHORT-TERM ASSETS
Cash & Short-Term Investments $149.1M $251.3M $251.3M
YoY Change -40.67%
Cash & Equivalents $149.1M $251.3M $251.3M
Short-Term Investments
Other Short-Term Assets $10.50M $331.0K $6.600M
YoY Change 59.08%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $159.6M $257.9M $257.9M
YoY Change -38.11% 1719093.33%
LONG-TERM ASSETS
Property, Plant & Equipment $50.61M $287.0K $300.0K
YoY Change 16770.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.744M $700.0K $700.0K
YoY Change 434.86%
Total Long-Term Assets $54.35M $1.002M $1.000M
YoY Change 5335.4%
TOTAL ASSETS
Total Short-Term Assets $159.6M $257.9M $257.9M
Total Long-Term Assets $54.35M $1.002M $1.000M
Total Assets $214.0M $258.9M $258.9M
YoY Change -17.36% 1725773.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.76M $1.994M $2.000M
YoY Change 988.15%
Accrued Expenses $29.98M $4.900M $5.100M
YoY Change 487.9% 3166.67% 2450.0%
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 $51.75M $7.129M $7.100M
YoY Change 628.82% 4652.67% 3450.0%
LONG-TERM LIABILITIES
Long-Term Debt $37.19M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $29.64M $450.0K $500.0K
YoY Change 5827.0%
Total Long-Term Liabilities $66.83M $450.0K $500.0K
YoY Change 13265.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.75M $7.129M $7.100M
Total Long-Term Liabilities $66.83M $450.0K $500.0K
Total Liabilities $118.6M $7.579M $7.600M
YoY Change 1460.17% 4952.67% 3700.0%
SHAREHOLDERS EQUITY
Retained Earnings -$61.13M
YoY Change 5382.15%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $95.38M $251.3M $251.3M
YoY Change
Total Liabilities & Shareholders Equity $214.0M $258.9M $258.9M
YoY Change -17.36% 1725773.33%

Cashflow Statement

Concept 2021 2020 Q4 2020
OPERATING ACTIVITIES
Net Income -$174.5M -$18.32M -$60.01M
YoY Change 190.82% 5258.13%
Depreciation, Depletion And Amortization $500.0K $10.00K $9.000K
YoY Change 5455.56%
Cash From Operating Activities -$117.0M -$19.85M -$30.73M
YoY Change 280.88%
INVESTING ACTIVITIES
Capital Expenditures $15.30M -$50.00K $82.00K
YoY Change 18563.41%
Acquisitions
YoY Change
Other Investing Activities -$6.250M -$6.000M -$9.000M
YoY Change -30.56%
Cash From Investing Activities -$21.55M -$6.050M -$9.082M
YoY Change 137.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 39.08M -1.490M 291.1M
YoY Change -86.57%
NET CHANGE
Cash From Operating Activities -117.0M -19.85M -30.73M
Cash From Investing Activities -21.55M -6.050M -9.082M
Cash From Financing Activities 39.08M -1.490M 291.1M
Net Change In Cash -99.51M -27.39M 251.3M
YoY Change -139.61%
FREE CASH FLOW
Cash From Operating Activities -$117.0M -$19.85M -$30.73M
Capital Expenditures $15.30M -$50.00K $82.00K
Free Cash Flow -$132.3M -$19.80M -$30.81M
YoY Change 329.54%

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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:6.41%;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 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 </p> <p style="margin-top:6pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</span></p>
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<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Concentrations of Credit Risk</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:6.41%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents. Periodically, the Company may maintain deposits in financial institutions in excess of government insured limits. Management believes that the Company is not exposed to significant credit risk as the Company’s deposits are held at financial institutions that management believes to be of high credit quality. The Company has not experienced any losses on these deposits.</p>
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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52153000
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400000
CY2021 dei Auditor Firm
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34

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