$VIRX
Viracta Therapeutics, Inc.

2019 Q1 Form 10-Q Financial Statement

#000156459019017293 Filed on May 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1 2017 Q4
Revenue $0.00 $240.0K $0.00
YoY Change -100.0% -64.13% -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.440M $3.360M $2.760M
YoY Change -27.38% -14.72% -29.77%
% of Gross Profit
Research & Development $3.248M $3.969M $3.670M
YoY Change -18.17% -35.57% -23.86%
% of Gross Profit
Depreciation & Amortization $2.000K $2.000K $0.00
YoY Change 0.0%
% of Gross Profit
Operating Expenses $3.248M $3.969M $6.430M
YoY Change -18.17% -60.7% -26.51%
Operating Profit -$7.091M
YoY Change
Interest Expense -$260.0K $281.0K -$280.0K
YoY Change -192.53% -158.54% -40.43%
% of Operating Profit
Other Income/Expense, Net $90.00K $99.00K $90.00K
YoY Change -9.09% 10.0% 800.0%
Pretax Income -$5.860M -$7.270M -$6.620M
YoY Change -19.39% -26.04% -22.48%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$5.860M -$7.273M -$6.620M
YoY Change -19.43% -26.01% -22.48%
Net Earnings / Revenue -3030.42%
Basic Earnings Per Share -$0.21
Diluted Earnings Per Share -$3.467M -$7.418M -$0.21
COMMON SHARES
Basic Shares Outstanding 67.58M 31.67M
Diluted Shares Outstanding 31.67M

Balance Sheet

Concept 2019 Q1 2018 Q1 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.80M $25.40M $31.80M
YoY Change -2.36% -27.84% -25.35%
Cash & Equivalents $24.81M $21.37M $26.98M
Short-Term Investments $4.000M $4.800M
Other Short-Term Assets $1.600M $1.500M $1.200M
YoY Change 6.67% 114.29% 100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $26.40M $26.90M $32.93M
YoY Change -1.86% -25.07% -23.77%
LONG-TERM ASSETS
Property, Plant & Equipment $1.200M $0.00 $20.00K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $100.0K $1.381M
YoY Change 0.0%
Total Long-Term Assets $1.400M $100.0K $1.401M
YoY Change 1300.0%
TOTAL ASSETS
Total Short-Term Assets $26.40M $26.90M $32.93M
Total Long-Term Assets $1.400M $100.0K $1.401M
Total Assets $27.80M $27.00M $34.33M
YoY Change 2.96% -24.79% -20.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $900.0K $1.000M $1.697M
YoY Change -10.0% -61.54% -10.68%
Accrued Expenses $3.100M $3.300M $3.800M
YoY Change -6.06% -21.43% -25.49%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $6.000M $7.300M $7.200M
YoY Change -17.81% 58.7% 118.18%
Total Short-Term Liabilities $10.00M $11.60M $12.70M
YoY Change -13.79% 1.75% 16.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $700.0K $0.00 $112.0K
YoY Change -100.0% -33.73%
Total Long-Term Liabilities $700.0K $0.00 $112.0K
YoY Change -100.0% -33.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.00M $11.60M $12.70M
Total Long-Term Liabilities $700.0K $0.00 $112.0K
Total Liabilities $10.67M $11.60M $12.79M
YoY Change -8.03% -46.3% -42.39%
SHAREHOLDERS EQUITY
Retained Earnings -$632.9M
YoY Change
Common Stock $3.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.09M $15.37M $21.54M
YoY Change
Total Liabilities & Shareholders Equity $27.80M $27.00M $34.33M
YoY Change 2.96% -24.77% -20.52%

Cashflow Statement

Concept 2019 Q1 2018 Q1 2017 Q4
OPERATING ACTIVITIES
Net Income -$5.860M -$7.273M -$6.620M
YoY Change -19.43% -26.01% -22.48%
Depreciation, Depletion And Amortization $2.000K $2.000K $0.00
YoY Change 0.0%
Cash From Operating Activities -$6.113M -$6.550M -$5.350M
YoY Change -6.67% -32.19% -32.87%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $740.0K -$280.0K
YoY Change -100.0% -93.17% -98.26%
Cash From Investing Activities $0.00 $742.0K -$270.0K
YoY Change -100.0% -93.15% -98.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $10.69M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.23M 196.0K 24.66M
YoY Change 8689.8% -91.25% -6.31%
NET CHANGE
Cash From Operating Activities -6.113M -6.550M -5.350M
Cash From Investing Activities 0.000 742.0K -270.0K
Cash From Financing Activities 17.23M 196.0K 24.66M
Net Change In Cash 11.12M -5.612M 19.04M
YoY Change -298.06% -264.57% 753.81%
FREE CASH FLOW
Cash From Operating Activities -$6.113M -$6.550M -$5.350M
Capital Expenditures $0.00
Free Cash Flow -$5.350M
YoY Change -32.87%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1226000
CY2019Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
545000
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
8000
CY2019Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
681000
CY2019Q1 us-gaap Liabilities
Liabilities
10668000
CY2018Q4 us-gaap Liabilities
Liabilities
11331000
CY2018Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3969000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-7091000
CY2018Q1 us-gaap Interest Expense
InterestExpense
281000
CY2018Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
99000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-7273000
CY2018Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
2000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
-5860000
CY2018Q1 us-gaap Profit Loss
ProfitLoss
-7273000
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
417000
CY2018Q1 us-gaap Share Based Compensation
ShareBasedCompensation
896000
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2000
CY2018Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2000
CY2019Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
42000
CY2018Q1 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
48000
CY2018Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6550000
CY2018Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
742000
CY2018Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
742000
CY2019Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6113000
CY2019Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1406000
CY2019Q1 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
7944000
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
10690000
CY2018Q1 snss Proceeds From Issuance Of Common Stock Through Equity Facilities Net
ProceedsFromIssuanceOfCommonStockThroughEquityFacilitiesNet
32000
CY2018Q1 snss Proceeds From Exercise Of Stock Options And Stock Purchase Rights
ProceedsFromExerciseOfStockOptionsAndStockPurchaseRights
164000
CY2019Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
17228000
CY2018Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
196000
CY2019Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
11115000
CY2018Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5612000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
26977000
CY2018Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21365000
CY2019Q1 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
3228000
CY2019Q1 snss Legal Expenses Accrued As Cost Of Equity Financing
LegalExpensesAccruedAsCostOfEquityFinancing
-98000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
21544000
CY2019Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-top:18pt;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;">Significant Estimates and Judgments </p> <p style="margin-top:6pt;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;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company&#8217;s condensed consolidated financial statements and accompanying notes thereto. Actual results could differ materially from these estimates. Estimates, assumptions and judgments made by management include those related to the valuation of equity and related instruments, debt instruments, revenue recognition, stock-based compensation, ROU assets, lease liabilities, and clinical trial accounting. </p>
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20554000
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14837000
CY2019Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
19735000
CY2019Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
19735000
CY2018Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
10845000
CY2018Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
10845000
CY2018Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
10845000
CY2018Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
10845000
CY2019Q1 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
0
CY2018 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
0
CY2019Q1 us-gaap Notes Payable
NotesPayable
6094000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
417000
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
896000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2019Q1 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
1400000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
424000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
578000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
294000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1296000
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
70000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1226000
CY2019Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
CY2018Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000

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