$VCNX
VACCINEX, INC.

2020 Q1 Form 10-Q Financial Statement

#000156459020025279 Filed on May 14, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $0.00 $94.00K
YoY Change -100.0% -54.37%
Cost Of Revenue $0.00 $175.0K
YoY Change -100.0% -27.08%
Gross Profit $0.00 -$81.00K
YoY Change -100.0% 138.24%
Gross Profit Margin -86.17%
Selling, General & Admin $1.750M $1.650M
YoY Change 6.06% 35.25%
% of Gross Profit
Research & Development $5.409M $7.412M
YoY Change -27.02% 66.41%
% of Gross Profit
Depreciation & Amortization $75.00K $60.00K
YoY Change 25.0% 7.14%
% of Gross Profit
Operating Expenses $5.409M $7.412M
YoY Change -27.02% 66.41%
Operating Profit -$7.159M -$9.140M
YoY Change -21.67% 60.1%
Interest Expense $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $10.00K $73.00K
YoY Change -86.3% -621.43%
Pretax Income -$7.149M -$9.067M
YoY Change -21.15% 15.33%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.149M -$9.067M
YoY Change -21.15% 15.33%
Net Earnings / Revenue -9645.74%
Basic Earnings Per Share
Diluted Earnings Per Share -$446.9K -$790.1K
COMMON SHARES
Basic Shares Outstanding 11.48M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.490M $11.29M
YoY Change -77.95% 286.64%
Cash & Equivalents $2.491M $5.279M
Short-Term Investments $2.350M
Other Short-Term Assets $1.010M $830.0K
YoY Change 21.69% 18.57%
Inventory
Prepaid Expenses
Receivables $770.0K $630.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.270M $12.75M
YoY Change -66.51% 243.67%
LONG-TERM ASSETS
Property, Plant & Equipment $610.0K $540.0K
YoY Change 12.96% -6.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $610.0K $540.0K
YoY Change 12.96% -56.45%
TOTAL ASSETS
Total Short-Term Assets $4.270M $12.75M
Total Long-Term Assets $610.0K $540.0K
Total Assets $4.880M $13.29M
YoY Change -63.28% 168.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.300M $2.440M
YoY Change 35.25% 3.39%
Accrued Expenses $3.320M $4.520M
YoY Change -26.55% 65.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.620M $6.960M
YoY Change -4.89% 32.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.620M $6.960M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $6.620M $6.959M
YoY Change -4.87% -73.75%
SHAREHOLDERS EQUITY
Retained Earnings -$255.8M -$225.8M
YoY Change 13.26%
Common Stock $230.1M $1.000K
YoY Change 23008700.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.00K $11.00K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity -$25.70M -$17.63M
YoY Change
Total Liabilities & Shareholders Equity $4.881M $13.29M
YoY Change -63.28% 168.57%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$7.149M -$9.067M
YoY Change -21.15% 15.33%
Depreciation, Depletion And Amortization $75.00K $60.00K
YoY Change 25.0% 7.14%
Cash From Operating Activities -$7.510M -$8.476M
YoY Change -11.4% 64.1%
INVESTING ACTIVITIES
Capital Expenditures $254.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $11.80M
YoY Change -100.0%
Cash From Investing Activities -$254.0K $11.80M
YoY Change -102.15% -25206.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.000M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 7.479M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -7.510M -8.476M
Cash From Investing Activities -254.0K 11.80M
Cash From Financing Activities 7.479M 0.000
Net Change In Cash -285.0K 3.324M
YoY Change -108.57% -364.65%
FREE CASH FLOW
Cash From Operating Activities -$7.510M -$8.476M
Capital Expenditures $254.0K $0.00
Free Cash Flow -$7.764M -$8.476M
YoY Change -8.4% 62.62%

Facts In Submission

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CY2020Q1 us-gaap Share Based Compensation
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CY2019Q1 us-gaap Share Based Compensation
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CY2020Q1 us-gaap Depreciation
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CY2020Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2019Q1 us-gaap Increase Decrease In Accounts Receivable
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CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2020Q1 vcnx Deferred Offering Costs In Prepaid Assets And Accrued Liabilities
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CY2020Q1 vcnx Deferred Offering Costs In Accounts Payable And Accrued Expenses
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CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:2pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">These condensed consolidated financial statements have been prepared in conformity with U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the condensed consolidated financial statements and the reported amount of expenses during the reporting period. Such management estimates include those relating to assumptions used in the valuation of stock option awards, and valuation allowances against deferred income tax assets. Actual results could differ from those estimates. </p>
CY2020Q1 us-gaap Operating Leases Future Minimum Payments Due In Four Years
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CY2020Q1 us-gaap Operating Leases Future Minimum Payments Due In Five Years
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CY2020Q1 us-gaap Concentration Risk Credit Risk
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<p style="margin-top:12pt;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;">Concentration of Credit Risk, Other Risks and Uncertainties </p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;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 concentrations of credit risk consist primarily of cash and cash equivalents. Cash equivalents are deposited in interest-bearing money market accounts. Although the Company deposits its cash with multiple financial institutions, cash balances may occasionally be in excess of the amounts insured by the Federal Deposit Insurance Corporation. Management believes the financial risk associated with these balances is minimal and has not experienced any losses to date.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;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 manufacturers for the manufacture of drug substance and drug product for clinical trials. The Company also relies on certain third parties for its supply chain. Disputes with these third- party manufacturers or shortages in goods or services from third-party suppliers could delay the manufacturing of the Company&#8217;s product candidates and adversely impact its results of operations. </p>
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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CY2020Q1 vcnx Royalty Payments Percent Of Net Sales
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
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CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2019Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
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CY2019Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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CY2020Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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CY2019Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
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CY2019Q1 us-gaap Allocated Share Based Compensation Expense
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CY2020Q1 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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CY2019Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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0
CY2020Q1 vcnx Number Of Business Activity
NumberOfBusinessActivity
1
CY2020Q1 vcnx Number Of Segment Managers For Operations Or Operating Results
NumberOfSegmentManagersForOperationsOrOperatingResults
0

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