2021 Q1 Form 10-Q Financial Statement
#000156459021024948 Filed on May 06, 2021
Income Statement
Concept | 2021 Q1 | 2020 Q1 |
---|---|---|
Revenue | $1.976M | $5.718M |
YoY Change | -65.44% | 56.19% |
Cost Of Revenue | $0.00 | |
YoY Change | ||
Gross Profit | $1.976M | |
YoY Change | ||
Gross Profit Margin | 100.0% | |
Selling, General & Admin | $25.74M | $12.65M |
YoY Change | 103.47% | 47.78% |
% of Gross Profit | 1302.58% | |
Research & Development | $134.9M | $64.98M |
YoY Change | 107.56% | 151.16% |
% of Gross Profit | 6825.4% | |
Depreciation & Amortization | $1.300M | $1.000M |
YoY Change | 30.0% | 42.86% |
% of Gross Profit | 65.79% | |
Operating Expenses | $160.6M | $77.63M |
YoY Change | 106.9% | 125.46% |
Operating Profit | -$158.6M | -$71.91M |
YoY Change | 120.6% | 133.7% |
Interest Expense | $160.0K | $1.760M |
YoY Change | -90.91% | -21.78% |
% of Operating Profit | ||
Other Income/Expense, Net | -$10.08M | -$5.314M |
YoY Change | 89.73% | -353.05% |
Pretax Income | -$168.7M | -$77.22M |
YoY Change | 118.47% | 169.35% |
Income Tax | $196.0K | $16.00K |
% Of Pretax Income | ||
Net Earnings | -$168.9M | -$77.24M |
YoY Change | 118.68% | 169.41% |
Net Earnings / Revenue | -8548.13% | -1350.82% |
Basic Earnings Per Share | -$1.32 | -$0.71 |
Diluted Earnings Per Share | -$1.32 | -$0.71 |
COMMON SHARES | ||
Basic Shares Outstanding | 127.7M | 109.8M |
Diluted Shares Outstanding | 127.7M |
Balance Sheet
Concept | 2021 Q1 | 2020 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $733.0M | $355.6M |
YoY Change | 106.13% | |
Cash & Equivalents | $521.4M | $168.4M |
Short-Term Investments | $211.6M | $187.2M |
Other Short-Term Assets | $35.10M | $21.90M |
YoY Change | 60.27% | |
Inventory | ||
Prepaid Expenses | ||
Receivables | $112.5M | |
Other Receivables | $0.00 | |
Total Short-Term Assets | $993.1M | $377.5M |
YoY Change | 163.07% | |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $17.29M | $16.24M |
YoY Change | 6.48% | |
Goodwill | ||
YoY Change | ||
Intangibles | ||
YoY Change | ||
Long-Term Investments | $6.100M | |
YoY Change | ||
Other Assets | $14.10M | $8.900M |
YoY Change | 58.43% | |
Total Long-Term Assets | $142.5M | $99.60M |
YoY Change | 43.07% | |
TOTAL ASSETS | ||
Total Short-Term Assets | $993.1M | $377.5M |
Total Long-Term Assets | $142.5M | $99.60M |
Total Assets | $1.136B | $477.1M |
YoY Change | 138.02% | |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $3.700M | $18.80M |
YoY Change | -80.32% | |
Accrued Expenses | $60.10M | $21.70M |
YoY Change | 176.96% | |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $0.00 |
YoY Change | ||
Long-Term Debt Due | $200.0K | |
YoY Change | ||
Total Short-Term Liabilities | $361.1M | $56.40M |
YoY Change | 540.25% | |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $0.00 | $800.0K |
YoY Change | -100.0% | |
Other Long-Term Liabilities | $120.3M | $36.30M |
YoY Change | 231.4% | |
Total Long-Term Liabilities | $120.3M | $37.10M |
YoY Change | 224.26% | |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $361.1M | $56.40M |
Total Long-Term Liabilities | $120.3M | $37.10M |
Total Liabilities | $484.6M | $96.80M |
YoY Change | 400.62% | |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$836.1M | -$445.8M |
YoY Change | 87.55% | |
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $651.0M | $380.3M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $1.136B | $477.1M |
YoY Change | 138.01% |
Cashflow Statement
Concept | 2021 Q1 | 2020 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$168.9M | -$77.24M |
YoY Change | 118.68% | 169.41% |
Depreciation, Depletion And Amortization | $1.300M | $1.000M |
YoY Change | 30.0% | 42.86% |
Cash From Operating Activities | -$89.53M | -$48.41M |
YoY Change | 84.94% | 64.16% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $667.0K | $1.302M |
YoY Change | -48.77% | -62.54% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $88.20M | $105.5M |
YoY Change | -16.41% | -138.98% |
Cash From Investing Activities | $87.53M | $104.2M |
YoY Change | -16.01% | -138.01% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | 87.50M | 85.00K |
YoY Change | 102844.71% | -99.97% |
NET CHANGE | ||
Cash From Operating Activities | -89.53M | -48.41M |
Cash From Investing Activities | 87.53M | 104.2M |
Cash From Financing Activities | 87.50M | 85.00K |
Net Change In Cash | 85.51M | 55.90M |
YoY Change | 52.98% | 306.33% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$89.53M | -$48.41M |
Capital Expenditures | $667.0K | $1.302M |
Free Cash Flow | -$90.20M | -$49.71M |
YoY Change | 81.44% | 50.8% |
Facts In Submission
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Depreciation Depletion And Amortization
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Income Tax Expense Benefit
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<p style="margin-bottom:0pt;margin-top:18pt;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-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of the condensed consolidated 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 liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expense during the reporting periods. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates. </p> | |
CY2021Q1 | us-gaap |
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0 | |
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Debt Securities Available For Sale Allowance For Credit Loss
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Derivatives Embedded Derivatives
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|
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Embedded Derivatives</p> <p style="margin-bottom:0pt;margin-top:6pt;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 evaluates its acquisitions, collaborative arrangements and other business development transactions to determine if embedded components of these contracts meet the definition of a derivative under ASC 815, Derivatives and Hedging. In general, embedded derivatives are required to be bifurcated from the host instrument if (i) the embedded feature is not clearly and closely related to the host contract and (ii) the embedded feature, if considered a freestanding instrument, meets the definition of a derivative. Embedded derivatives are reported on the condensed consolidated balance sheets at their estimated fair values. Contingent consideration related to asset acquisitions that meet the definition of an embedded derivative is classified as contingent consideration on the condensed consolidated balance sheets. Any change in estimated fair values, as determined at each measurement period, are recorded in the condensed consolidated statements of operations based on the nature of the related contingencies.<span style="font-size:8pt;"> </span>Changes in fair values of embedded derivatives related to the achievement of various development milestones for product candidates are recorded within research and development expense. Otherwise, changes in fair values are recorded within other income (expense), net.</p> | |
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Financial Assets Amortized Cost Basis
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45000 | |
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Financial Assets Amortized Cost Basis
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722036000 | |
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91000 | |
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Financial Assets Gross Unrealized Holding Losses
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6000 | |
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Financial Assets Fair Value
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722121000 | |
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Financing Receivable Accrued Interest Writeoff
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Financing Receivable Accrued Interest Writeoff
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Accrued Liabilities And Other Liabilities
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Accrued Liabilities And Other Liabilities
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Lease Arrangement Contractual Expiration Beginning Year
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|
2021 | |
CY2021Q1 | vir |
Lease Arrangement Contractual Expiration Ending Year
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Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
|
These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain lease agreements also provide the Company with the option to renew for additional periods ranging from one to five years. | |
CY2021Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
27788000 | |
CY2020Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
27178000 | |
CY2021Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
10497000 | |
CY2020Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
9232000 | |
CY2021Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
17291000 | |
CY2020Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
17946000 | |
CY2021Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1300000 | |
CY2020Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
1000000.0 | |
CY2021Q1 | vir |
Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
|
39560000 | |
CY2020Q4 | vir |
Research And Development Expenses Current
ResearchAndDevelopmentExpensesCurrent
|
49384000 | |
CY2021Q1 | vir |
Milestone Payable
MilestonePayable
|
10000000 | |
CY2021Q1 | vir |
Payroll And Related Expenses Current
PayrollAndRelatedExpensesCurrent
|
5726000 | |
CY2020Q4 | vir |
Payroll And Related Expenses Current
PayrollAndRelatedExpensesCurrent
|
17060000 | |
CY2021Q1 | vir |
Excess Funds Payable Under Grant Agreements Current
ExcessFundsPayableUnderGrantAgreementsCurrent
|
5459000 | |
CY2020Q4 | vir |
Excess Funds Payable Under Grant Agreements Current
ExcessFundsPayableUnderGrantAgreementsCurrent
|
3467000 | |
CY2021Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
3568000 | |
CY2020Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
3625000 | |
CY2021Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
4037000 | |
CY2020Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
2595000 | |
CY2021Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
1719000 | |
CY2020Q4 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
70181000 | |
CY2021Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
15471000 | |
CY2020Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2967000 | |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
39522000 | |
CY2021Q1 | vir |
Lessee Operating Lease Liability Net Tenant Improvement Allowance Yet To Be Received
LesseeOperatingLeaseLiabilityNetTenantImprovementAllowanceYetToBeReceived
|
10287000 | |
CY2021Q1 | vir |
Present Value Of Operating Lease Liabilities
PresentValueOfOperatingLeaseLiabilities
|
62270000 | |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
4951000 | |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
9707000 | |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
11381000 | |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
10558000 | |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
8035000 | |
CY2021Q1 | vir |
Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
|
67447000 | |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
112079000 | |
CY2021Q1 | vir |
Operating Lease Liability Current Net Of Tenant Improvement Allowances Included In Prepaid
OperatingLeaseLiabilityCurrentNetOfTenantImprovementAllowancesIncludedInPrepaid
|
7913000 | |
CY2020Q4 | vir |
Operating Lease Liability Current Net Of Tenant Improvement Allowances Included In Prepaid
OperatingLeaseLiabilityCurrentNetOfTenantImprovementAllowancesIncludedInPrepaid
|
7913000 | |
CY2021Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
60461000 | |
CY2020Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
61947000 | |
CY2021Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
3568000 | |
CY2020Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
3625000 | |
CY2021Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
66615000 | |
CY2020Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
66556000 | |
CY2021Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
70183000 |