$TSHA
Taysha Gene Therapies, Inc.

2022 Q4 Form 10-Q Financial Statement

#000156459022036936 Filed on November 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $2.502M $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.341M $8.683M $11.15M
YoY Change -37.82% -22.15% 180.23%
% of Gross Profit
Research & Development $13.86M $16.39M $39.53M
YoY Change -63.44% -58.53% 257.49%
% of Gross Profit
Depreciation & Amortization $364.0K $300.0K $166.0K
YoY Change 74.16% 80.72%
% of Gross Profit
Operating Expenses $21.20M $25.07M $50.68M
YoY Change -57.36% -50.53% 236.95%
Operating Profit -$25.07M -$50.68M
YoY Change -50.53% 236.95%
Interest Expense -$597.0K $1.241M -$506.0K
YoY Change -9.82% -345.26% -50700.0%
% of Operating Profit
Other Income/Expense, Net -$6.000K -$1.233M $0.00
YoY Change -100.0%
Pretax Income -$55.72M -$26.31M -$51.19M
YoY Change 10.59% -48.61% 240.34%
Income Tax
% Of Pretax Income
Net Earnings -$55.72M -$26.31M -$51.19M
YoY Change 10.59% -48.61% 240.29%
Net Earnings / Revenue -2227.14%
Basic Earnings Per Share -$0.64 -$1.35
Diluted Earnings Per Share -$0.99 -$0.64 -$1.347M
COMMON SHARES
Basic Shares Outstanding 62.44M 41.09M 38.00M
Diluted Shares Outstanding 40.94M 38.00M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $87.88M $34.31M $188.8M
YoY Change -41.06% -81.83% -32.24%
Cash & Equivalents $87.90M $34.31M $188.8M
Short-Term Investments
Other Short-Term Assets $448.0K $380.0K $1.162M
YoY Change -48.09% -67.3% 93.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $96.42M $43.00M $197.2M
YoY Change -39.59% -78.19% -29.39%
LONG-TERM ASSETS
Property, Plant & Equipment $14.96M $63.95M $40.55M
YoY Change -70.43% 57.7% 144732.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.316M $1.245M $3.319M
YoY Change 199.09% -62.49%
Total Long-Term Assets $29.86M $68.47M $43.87M
YoY Change -45.07% 56.06% 156585.71%
TOTAL ASSETS
Total Short-Term Assets $96.42M $43.00M $197.2M
Total Long-Term Assets $29.86M $68.47M $43.87M
Total Assets $126.3M $111.5M $241.0M
YoY Change -40.98% -53.76% -13.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.95M $15.25M $22.05M
YoY Change -49.7% -30.84% 149.53%
Accrued Expenses $18.29M $17.89M $21.16M
YoY Change -39.01% -15.48% 676.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $62.79M $33.14M $43.21M
YoY Change 21.34% -23.31% 271.77%
LONG-TERM LIABILITIES
Long-Term Debt $37.97M $37.77M $27.81M
YoY Change 2.08% 35.82%
Other Long-Term Liabilities $4.130M $3.934M $3.015M
YoY Change 10.58% 30.48%
Total Long-Term Liabilities $42.10M $41.71M $30.83M
YoY Change 2.86% 35.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $62.79M $33.14M $43.21M
Total Long-Term Liabilities $42.10M $41.71M $30.83M
Total Liabilities $125.3M $100.3M $100.6M
YoY Change 5.7% -0.3% 765.86%
SHAREHOLDERS EQUITY
Retained Earnings -$401.4M -$345.9M -$185.3M
YoY Change 70.34% 86.69% 332.86%
Common Stock $1.000K $1.000K $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $949.0K $11.13M $140.4M
YoY Change
Total Liabilities & Shareholders Equity $126.3M $111.5M $241.0M
YoY Change -40.98% -53.76% -13.69%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$55.72M -$26.31M -$51.19M
YoY Change 10.59% -48.61% 240.29%
Depreciation, Depletion And Amortization $364.0K $300.0K $166.0K
YoY Change 74.16% 80.72%
Cash From Operating Activities $14.28M -$28.66M -$31.93M
YoY Change -135.46% -10.27% 375.9%
INVESTING ACTIVITIES
Capital Expenditures $2.309M -$2.020M -$3.502M
YoY Change -127.92% -42.32% 11573.33%
Acquisitions
YoY Change
Other Investing Activities -$61.00K -$1.000M -$500.0K
YoY Change -75.6% 100.0%
Cash From Investing Activities -$2.370M -$3.020M -$4.002M
YoY Change -72.18% -24.54% 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 41.67M -258.0K 29.98M
YoY Change 357.63% -100.86% -89.07%
NET CHANGE
Cash From Operating Activities 14.28M -28.66M -31.93M
Cash From Investing Activities -2.370M -3.020M -4.002M
Cash From Financing Activities 41.67M -258.0K 29.98M
Net Change In Cash 53.57M -31.93M -5.957M
YoY Change -235.04% 436.06% -102.23%
FREE CASH FLOW
Cash From Operating Activities $14.28M -$28.66M -$31.93M
Capital Expenditures $2.309M -$2.020M -$3.502M
Free Cash Flow $11.97M -$26.64M -$28.43M
YoY Change -137.41% -6.32% 325.61%

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CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Trading Symbol
TradingSymbol
TSHA
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2021Q4 us-gaap Deferred Costs Leasing Net Noncurrent
DeferredCostsLeasingNetNoncurrent
667000
CY2022Q3 us-gaap Assets
Assets
111468000
CY2022Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
17888000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
29983000
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
357065000
CY2022Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
8683000
CY2022Q3 us-gaap Other Nonoperating Expense
OtherNonoperatingExpense
1000
CY2022Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1233000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39761764
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
32710000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4470000
CY2022Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
253000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-26307000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
11126000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
186495000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5086000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-51187000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
140394000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14172000
tsha Payment Of Sales Commissions And Other Offering Costs
PaymentOfSalesCommissionsAndOtherOfferingCosts
392000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
11609000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
253000
us-gaap Net Income Loss
NetIncomeLoss
-110291000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
11126000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
251302000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
13229000
us-gaap Net Income Loss
NetIncomeLoss
-124137000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
140394000
us-gaap Profit Loss
ProfitLoss
-110291000
us-gaap Profit Loss
ProfitLoss
-124137000
us-gaap Depreciation
Depreciation
808000
us-gaap Depreciation
Depreciation
283000
us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
1250000
us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
6750000
us-gaap Share Based Compensation
ShareBasedCompensation
13940000
us-gaap Share Based Compensation
ShareBasedCompensation
13229000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-616000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-450000
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’s financial statements relate to the determination of the fair value of the common stock prior to the Company’s initial public offering (“IPO”) in September 2020 (as an input into stock-based compensation), and estimating preclinical manufacturing accruals and accrued or prepaid research and development expenses. 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.</p>
CY2022Q3 tsha Prepaid Research And Development Contracts
PrepaidResearchAndDevelopmentContracts
5182000
CY2021Q4 tsha Prepaid Research And Development Contracts
PrepaidResearchAndDevelopmentContracts
5218000
CY2022Q3 tsha Prepaid Clinical Trial
PrepaidClinicalTrial
2284000
CY2021Q4 tsha Prepaid Clinical Trial
PrepaidClinicalTrial
3298000
CY2022Q3 us-gaap Deferred Offering Costs
DeferredOfferingCosts
722000
CY2021Q4 us-gaap Deferred Offering Costs
DeferredOfferingCosts
545000
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
74000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
148000
CY2022Q3 tsha Prepaid Bonus
PrepaidBonus
54000
CY2021Q4 tsha Prepaid Bonus
PrepaidBonus
427000
CY2022Q3 us-gaap Other Assets Current
OtherAssetsCurrent
380000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
863000
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8696000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
10499000
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
65242000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
51109000
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1288000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
499000
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
63954000
CY2022Q3 tsha Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
8027000
CY2021Q4 tsha Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
11895000
CY2022Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4914000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7703000
CY2021Q4 tsha Accrued License Fees Current
AccruedLicenseFeesCurrent
3500000
CY2022Q3 tsha Accrued Property Plant And Equipment Current
AccruedPropertyPlantAndEquipmentCurrent
1655000
CY2021Q4 tsha Accrued Property Plant And Equipment Current
AccruedPropertyPlantAndEquipmentCurrent
2644000
CY2022Q3 tsha Accrued Clinical Trial Current
AccruedClinicalTrialCurrent
889000
CY2021Q4 tsha Accrued Clinical Trial Current
AccruedClinicalTrialCurrent
1659000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
823000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1091000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1580000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1491000
CY2022Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
17888000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
29983000
CY2021Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0700
CY2021Q3 tsha Percentage Of Prepayment Of Facility
PercentageOfPrepaymentOfFacility
0.075
CY2022Q3 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
3000000.0
CY2021Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0
CY2021Q3 tsha Percentage Of Annual Default Interest Rate
PercentageOfAnnualDefaultInterestRate
0.05
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
2500000
CY2022Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6667000
CY2022Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
40000000
CY2022Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
2227000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
37773000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Employee Subscription Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumEmployeeSubscriptionRate
0.85
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Offering Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPriceOfferingDate
0.15
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Per Employee
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee
1800
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13229000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-124137000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37495537
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37495537
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.35
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.31
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5809852
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
700000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
100000

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