$VIRX
Viracta Therapeutics, Inc.

2021 Q2 Form 10-Q Financial Statement

#000119312521159809 Filed on May 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q1
Revenue $0.00 $0.00 $120.0K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.871M $3.840M $2.230M
YoY Change 87.91% 72.2% -8.61%
% of Gross Profit
Research & Development $5.446M $4.024M $3.690M
YoY Change 62.04% 9.05% 13.61%
% of Gross Profit
Depreciation & Amortization $47.00K $16.00K $2.000K
YoY Change 700.0% 0.0%
% of Gross Profit
Operating Expenses $9.317M $92.34M $4.457M
YoY Change 119.74% 1971.84% 37.22%
Operating Profit -$9.317M -$78.84M -$4.457M
YoY Change 119.74% 1668.95%
Interest Expense $122.0K $105.0K $0.00
YoY Change 87.69% -100.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $290.0K $0.00
YoY Change -100.0%
Pretax Income -$9.170M -$79.23M -$5.780M
YoY Change 43.51% 1270.76% -1.37%
Income Tax
% Of Pretax Income
Net Earnings -$9.170M -$79.23M -$4.417M
YoY Change 116.48% 1693.77% -24.62%
Net Earnings / Revenue -3680.83%
Basic Earnings Per Share
Diluted Earnings Per Share -$246.4K -$5.223M -$1.818M
COMMON SHARES
Basic Shares Outstanding 37.04M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $122.7M $129.2M $23.40M
YoY Change 593.34% 452.14% -5.65%
Cash & Equivalents $122.7M $17.10M $14.56M
Short-Term Investments $3.400M
Other Short-Term Assets $2.421M $3.100M $7.300M
YoY Change -66.38% -57.53% 356.25%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $125.1M $132.3M $30.70M
YoY Change 402.58% 330.96% 16.29%
LONG-TERM ASSETS
Property, Plant & Equipment $41.00K $40.00K $1.000K
YoY Change -91.8% 3900.0% -99.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.680M $2.827M $100.0K
YoY Change 2691.67% 2727.0% 0.0%
Total Long-Term Assets $3.537M $3.905M $800.0K
YoY Change 483.66% 388.13% -42.86%
TOTAL ASSETS
Total Short-Term Assets $125.1M $132.3M $30.70M
Total Long-Term Assets $3.537M $3.905M $800.0K
Total Assets $128.7M $136.2M $31.50M
YoY Change 404.5% 332.41% 13.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.566M $1.571M $900.0K
YoY Change 467.7% 74.56% 0.0%
Accrued Expenses $3.196M $3.638M $2.900M
YoY Change -8.69% 25.45% -6.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $833.0K $573.0K $5.500M
YoY Change -84.85% -89.58% -8.33%
Total Short-Term Liabilities $6.953M $6.265M $9.300M
YoY Change -26.03% -32.63% -7.0%
LONG-TERM LIABILITIES
Long-Term Debt $4.155M $4.633M $0.00
YoY Change
Other Long-Term Liabilities $474.0K $600.0K $100.0K
YoY Change 500.0% -85.71%
Total Long-Term Liabilities $4.155M $4.633M $100.0K
YoY Change 4533.0% -85.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.953M $6.265M $9.300M
Total Long-Term Liabilities $4.155M $4.633M $100.0K
Total Liabilities $11.11M $10.90M $9.401M
YoY Change 18.17% 15.92% -11.88%
SHAREHOLDERS EQUITY
Retained Earnings -$139.3M -$130.1M -$688.6M
YoY Change -79.96% -81.1%
Common Stock $4.000K $4.000K $11.00K
YoY Change -63.64% -63.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $117.1M $124.7M -$32.71M
YoY Change
Total Liabilities & Shareholders Equity $128.7M $136.2M $31.49M
YoY Change 404.5% 332.59% 13.26%

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$9.170M -$79.23M -$4.417M
YoY Change 116.48% 1693.77% -24.62%
Depreciation, Depletion And Amortization $47.00K $16.00K $2.000K
YoY Change 700.0% 0.0%
Cash From Operating Activities -$6.592M $2.551M -$3.658M
YoY Change 13.66% -169.74% -40.16%
INVESTING ACTIVITIES
Capital Expenditures -$5.000K
YoY Change
Acquisitions
YoY Change
Other Investing Activities $3.000K $17.14M $12.96M
YoY Change -99.91% 32.25%
Cash From Investing Activities -$2.000K $17.14M $0.00
YoY Change -100.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $62.32M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 136.0K 62.40M 0.000
YoY Change 580.0% -100.0%
NET CHANGE
Cash From Operating Activities -6.592M 2.551M -3.658M
Cash From Investing Activities -2.000K 17.14M 0.000
Cash From Financing Activities 136.0K 62.40M 0.000
Net Change In Cash -6.458M 82.09M 7.213M
YoY Change 177.17% 1038.11% -35.11%
FREE CASH FLOW
Cash From Operating Activities -$6.592M $2.551M -$3.658M
Capital Expenditures -$5.000K
Free Cash Flow -$6.587M
YoY Change

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CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">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. Actual results could differ materially from those estimates. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2021Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Concentrations of Credit Risk </div></div></div></div> <div style="font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to significant risk on its cash and cash equivalents. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2021Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
83302000
CY2021Q1 snss Issuance Of Common Stock Noncash Transaction Upon Merger
IssuanceOfCommonStockNoncashTransactionUponMerger
97982000
CY2021Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
18956000
CY2021Q1 snss Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Acquired Ipr And D Projects
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAcquiredIprAndDProjects
84478000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
103434000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
17143000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
3768000
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
37036294
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12998353
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
396000
CY2021Q1 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
84478000
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
905987
CY2021Q1 snss Change In Fair Value Of Preferred Stock Warrant Liability
ChangeInFairValueOfPreferredStockWarrantLiability
290000
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-1250000
CY2020Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
581000
CY2021Q1 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
17143000
CY2021Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
81000
CY2021Q1 snss Warrant Liability Reclassification To Equity
WarrantLiabilityReclassificationToEquity
396000
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
16000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2000
CY2021Q1 snss Gain Loss On Royalty Purchase Agreement Non Operating
GainLossOnRoyaltyPurchaseAgreementNonOperating
13500000
CY2021Q1 us-gaap Other Expenses
OtherExpenses
290000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4582827
CY2021Q1 snss Fair Value Of Shares Issuable Under Employee Stock Purchase Plan
FairValueOfSharesIssuableUnderEmployeeStockPurchasePlan
25000000
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
644000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
86000
CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5816642
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
21264567
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
852
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
852
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.22
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.22
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-4457000
CY2020Q2 us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
option for an additional year
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
71354000
CY2020Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
47170000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1049981000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
99116000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
55680000
CY2020Q1 snss Gain Loss On Royalty Purchase Agreement Non Operating
GainLossOnRoyaltyPurchaseAgreementNonOperating
0
CY2020Q1 us-gaap Interest Expense
InterestExpense
0
CY2020Q1 us-gaap Other Expenses
OtherExpenses
0
CY2020Q1 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
0
CY2020Q1 snss Change In Fair Value Of Preferred Stock Warrant Liability
ChangeInFairValueOfPreferredStockWarrantLiability
0
CY2020Q1 snss Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
0
CY2020Q1 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
0
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
0
CY2020Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
0
CY2020Q1 snss Warrant Liability Reclassification To Equity
WarrantLiabilityReclassificationToEquity
0
CY2020Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0
CY2020Q1 snss Issuance Of Common Stock Noncash Transaction Upon Merger
IssuanceOfCommonStockNoncashTransactionUponMerger
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
92342000
CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
4457000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-78842000
CY2021Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-389000
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
40000
CY2021Q1 snss Net Loss And Comprehensive Loss
NetLossAndComprehensiveLoss
-79231000
CY2020Q1 snss Net Loss And Comprehensive Loss
NetLossAndComprehensiveLoss
-4417000
CY2021Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
37043151
CY2021Q1 snss Issuance Of Convertible Preferred Stock Noncash Transaction Upon Merger
IssuanceOfConvertiblePreferredStockNoncashTransactionUponMerger
5452000
CY2020Q1 snss Issuance Of Convertible Preferred Stock Noncash Transaction Upon Merger
IssuanceOfConvertiblePreferredStockNoncashTransactionUponMerger
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P3Y10M24D
CY2021Q1 snss Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable And Accrued Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayableAndAccruedLiabilities
1955000
CY2020Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0

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