$UBX
Unity Biotechnology, Inc.

2018 Q2 Form 10-Q Financial Statement

#000156459018021036 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.840M $2.490M
YoY Change 54.22%
% of Gross Profit
Research & Development $15.20M $9.213M
YoY Change 64.96%
% of Gross Profit
Depreciation & Amortization $520.0K $300.0K
YoY Change 73.33%
% of Gross Profit
Operating Expenses $20.80M $11.70M
YoY Change 77.79%
Operating Profit -$20.80M -$11.70M
YoY Change 77.79%
Interest Expense $826.0K $278.0K
YoY Change 197.12%
% of Operating Profit
Other Income/Expense, Net -$30.00K -$10.00K
YoY Change 200.0%
Pretax Income -$20.00M -$11.43M
YoY Change 74.98%
Income Tax
% Of Pretax Income
Net Earnings -$20.00M -$11.43M
YoY Change 75.03%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$7.61 -$35.71
COMMON SHARES
Basic Shares Outstanding 42.31M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $186.0M
YoY Change
Cash & Equivalents $34.72M $8.454M
Short-Term Investments $151.8M
Other Short-Term Assets $1.700M
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $187.6M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $6.595M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $12.10M
YoY Change
Other Assets $2.200M
YoY Change
Total Long-Term Assets $20.88M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $187.6M
Total Long-Term Assets $20.88M
Total Assets $208.5M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.900M
YoY Change
Accrued Expenses $4.856M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.400M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $82.00K
YoY Change
Total Long-Term Liabilities $82.00K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.400M
Total Long-Term Liabilities $82.00K
Total Liabilities $13.39M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $195.1M
YoY Change
Total Liabilities & Shareholders Equity $208.5M
YoY Change

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$20.00M -$11.43M
YoY Change 75.03%
Depreciation, Depletion And Amortization $520.0K $300.0K
YoY Change 73.33%
Cash From Operating Activities -$18.05M -$9.780M
YoY Change 84.56%
INVESTING ACTIVITIES
Capital Expenditures $430.0K $690.0K
YoY Change -37.68%
Acquisitions
YoY Change
Other Investing Activities -$92.37M -$46.33M
YoY Change 99.37%
Cash From Investing Activities -$92.80M -$47.01M
YoY Change 97.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 82.25M 34.88M
YoY Change 135.81%
NET CHANGE
Cash From Operating Activities -18.05M -9.780M
Cash From Investing Activities -92.80M -47.01M
Cash From Financing Activities 82.25M 34.88M
Net Change In Cash -28.60M -21.91M
YoY Change 30.53%
FREE CASH FLOW
Cash From Operating Activities -$18.05M -$9.780M
Capital Expenditures $430.0K $690.0K
Free Cash Flow -$18.48M -$10.47M
YoY Change 76.5%

Facts In Submission

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us-gaap Use Of Estimates
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<div> <p style="text-align:justify;margin-bottom:14pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:14pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The condensed financial statements have been prepared in accordance with GAAP, which requires management to make estimates and assumptions that affect the amounts and disclosures reported in the condensed financial statements and accompanying notes. The Company bases its estimates on historical experience and market-specific or other relevant assumptions that it believes are reasonable under the circumstances. The amounts of assets and liabilities reported in the Company&#8217;s balance sheets and the amount of expenses and income reported for each of the periods presented are affected by estimates and assumptions, which are used for, but are not limited to, determining the fair value of assets and liabilities, common stock valuation, contingent consideration and stock-based compensation. Actual results could differ from such estimates or assumptions.</p></div>
us-gaap Concentration Risk Credit Risk
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<div> <p style="text-align:justify;margin-bottom:14pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentrations of Risk </p> <p style="text-align:justify;margin-bottom:14pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash, cash equivalents, restricted cash and marketable securities. Substantially all of the Company&#8217;s cash and cash equivalents and restricted cash is deposited in accounts with financial institutions that management believes are of high credit quality. Such deposits have and will continue to exceed federally insured limits. The Company maintains its cash with accredited financial institutions and accordingly, such funds are subject to minimal credit risk. The Company has not experienced any losses on its cash deposits. The contribution receivable outstanding as of December 31, 2017 was unsecured and was concentrated with one third-party organization, and accordingly the Company was exposed to credit risk. The Company received the full amount of the contribution receivable in January 2018. </p> <p style="text-align:justify;margin-bottom:14pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s investment policy limits investments to certain types of securities issued by the U.S. government, its agencies and institutions with investment-grade credit ratings and places restrictions on maturities and concentration by type and issuer. The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash, cash equivalents, restricted cash and marketable securities and issuers of marketable securities to the extent recorded on the balance sheets. As of June 30, 2018, the Company had no off-balance sheet concentrations of credit risk. </p> <p style="margin-bottom:0pt;text-align:justify;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company depends on third-party suppliers for key raw materials used in its manufacturing processes and is subject to certain risks related to the loss of these third-party suppliers or their inability to supply the Company with adequate raw materials. </p></div>
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900000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
800000
CY2018Q2 ubx Number Of Promissory Note
NumberOfPromissoryNote
3
CY2018Q2 ubx Number Of Executive Officer
NumberOfExecutiveOfficer
2
CY2018Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
122000000
CY2018Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
140000000
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
91739149
CY2018Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
103283818
CY2018Q2 ubx Convertible Preferred Stock Warrants Converted Into Warrants To Purchase Shares Of Common Stock
ConvertiblePreferredStockWarrantsConvertedIntoWarrantsToPurchaseSharesOfCommonStock
763501
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1629602
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
401773
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
48529
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5375503
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
13.24
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
3.11
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.62
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.10
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7693464
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
32981734

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