2019 Q3 Form 10-Q Financial Statement

#000156459019042985 Filed on November 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q3 2018 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.510M $2.690M $2.820M
YoY Change -6.69% -15.41% -23.16%
% of Gross Profit
Research & Development $3.534M $3.590M $3.760M
YoY Change -1.56% -46.89% -23.89%
% of Gross Profit
Depreciation & Amortization $10.00K $10.00K $0.00
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $3.534M $6.280M $6.582M
YoY Change -43.73% -36.82% -23.57%
Operating Profit -$6.582M
YoY Change -23.57%
Interest Expense -$70.00K -$290.0K $287.0K
YoY Change -75.86% 0.0% -16.57%
% of Operating Profit
Other Income/Expense, Net $170.0K $60.00K $29.00K
YoY Change 183.33% -14.29% -74.56%
Pretax Income -$5.940M -$6.510M -$6.840M
YoY Change -8.76% -35.93% -22.62%
Income Tax
% Of Pretax Income
Net Earnings -$5.942M -$6.510M -$6.840M
YoY Change -8.73% -35.93% -22.64%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$1.980M -$6.320M -$6.980M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.80M $20.20M $20.40M
YoY Change 62.38% 61.6% -10.13%
Cash & Equivalents $19.70M $20.16M $17.03M
Short-Term Investments $13.10M $0.00 $3.400M
Other Short-Term Assets $7.700M $1.300M $1.500M
YoY Change 492.31% 0.0% 87.5%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $40.50M $21.50M $21.90M
YoY Change 88.37% 56.93% -6.81%
LONG-TERM ASSETS
Property, Plant & Equipment $1.000M $0.00 $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $100.0K $108.0K $100.0K
YoY Change -7.41% -91.69% -92.86%
Total Long-Term Assets $1.100M $86.00K $100.0K
YoY Change 1179.07% -93.86% -92.86%
TOTAL ASSETS
Total Short-Term Assets $40.50M $21.50M $21.90M
Total Long-Term Assets $1.100M $86.00K $100.0K
Total Assets $41.60M $21.59M $22.00M
YoY Change 92.72% 42.95% -11.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $800.0K $1.277M $1.600M
YoY Change -37.35% -14.87% -30.43%
Accrued Expenses $2.700M $3.700M $3.200M
YoY Change -27.03% 8.82% 6.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.500M $7.300M $7.300M
YoY Change -24.66% 192.0% 329.41%
Total Short-Term Liabilities $8.900M $12.30M $12.00M
YoY Change -27.64% 66.22% 71.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Other Long-Term Liabilities $13.00K $4.000K $0.00
YoY Change 225.0% -96.0%
Total Long-Term Liabilities $13.00K $4.000K $0.00
YoY Change 225.0% -99.92% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.900M $12.30M $12.00M
Total Long-Term Liabilities $13.00K $4.000K $0.00
Total Liabilities $9.316M $12.29M $12.00M
YoY Change -24.2% 0.74% -3.23%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $11.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $32.29M $9.296M $9.975M
YoY Change
Total Liabilities & Shareholders Equity $41.60M $21.60M $22.00M
YoY Change 92.59% 43.05% -11.65%

Cashflow Statement

Concept 2019 Q3 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income -$5.942M -$6.510M -$6.840M
YoY Change -8.73% -35.93% -22.64%
Depreciation, Depletion And Amortization $10.00K $10.00K $0.00
YoY Change 0.0% 0.0%
Cash From Operating Activities -$5.430M -$5.450M -$5.900M
YoY Change -0.37% -47.19% -45.42%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$10.69M $3.400M $640.0K
YoY Change -414.41% -47.85% -94.96%
Cash From Investing Activities -$10.69M $3.400M $640.0K
YoY Change -414.41% -47.77% -94.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 26.06M 5.180M 920.0K
YoY Change 403.09% 5655.56% -155.09%
NET CHANGE
Cash From Operating Activities -5.430M -5.450M -5.900M
Cash From Investing Activities -10.69M 3.400M 640.0K
Cash From Financing Activities 26.06M 5.180M 920.0K
Net Change In Cash 9.940M 3.130M -4.340M
YoY Change 217.57% -184.14% -2270.0%
FREE CASH FLOW
Cash From Operating Activities -$5.430M -$5.450M -$5.900M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$5.450M -$5.900M
YoY Change -47.19% -45.27%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Transition Report
DocumentTransitionReport
false
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2019Q3 us-gaap Notes Payable Current
NotesPayableCurrent
5460000
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
545000
CY2018Q4 us-gaap Liabilities Current
LiabilitiesCurrent
11323000
CY2019Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
13000
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
8000
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
409000
CY2019Q3 us-gaap Liabilities
Liabilities
9316000
CY2019Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2019Q3 us-gaap Preferred Stock Value
PreferredStockValue
11763000
CY2019Q3 us-gaap Common Stock Value
CommonStockValue
11000
CY2019Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
698032000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-659469000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
3993000
CY2018Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
15324000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
237000
CY2018Q3 us-gaap Type Of Revenue Extensible List
TypeOfRevenueExtensibleList
snss:LicenseAndOtherRevenueMember
snss Proceeds From Issuance Of Common Stock Through Equity Facilities Net
ProceedsFromIssuanceOfCommonStockThroughEquityFacilitiesNet
6040000
snss Proceeds From Exercise Of Stock Options And Stock Purchase Rights
ProceedsFromExerciseOfStockOptionsAndStockPurchaseRights
263000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
7000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20611000
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.59
us-gaap Profit Loss
ProfitLoss
-20618000
us-gaap Share Based Compensation
ShareBasedCompensation
2185000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1154000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-420000
snss Increase Decrease In Accrued Clinical Expense
IncreaseDecreaseInAccruedClinicalExpense
-123000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-254000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
28000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17898000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6303000
snss Legal Expenses Accrued As Cost Of Equity Financing
LegalExpensesAccruedAsCostOfEquityFinancing
-33000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-6815000
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
20162000
us-gaap Stock Issued1
StockIssued1
448000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
21762000
snss Legal Expenses Accrued As Cost Of Equity Financing
LegalExpensesAccruedAsCostOfEquityFinancing
-125000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
11739000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
9975000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
21544000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
9296000
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 debt instruments, stock-based compensation, ROU assets, lease liabilities, and clinical trial accounting. </p>
CY2019Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
CY2018Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
400000
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
400000
CY2019Q3 snss Cash And Cash Equivalents Restricted Cash And Marketable Securities
CashAndCashEquivalentsRestrictedCashAndMarketableSecurities
38300000
snss Number Of Product Candidates
NumberOfProductCandidates
2
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24934000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
24934000
CY2019Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
31526000
CY2019Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
31526000
CY2019Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
18446000
CY2019Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
18446000
CY2019Q3 snss Marketable Securities Amortized Cost
MarketableSecuritiesAmortizedCost
13080000
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
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
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2019Q3 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2018Q3 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2019Q3 us-gaap Notes Payable
NotesPayable
5500000
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
465000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
637000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1276000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2185000
us-gaap Operating Lease Payments
OperatingLeasePayments
400000
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
1400000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
143000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
579000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
294000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1016000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
62000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
954000

Files In Submission

Name View Source Status
0001564590-19-042985-index-headers.html Edgar Link pending
0001564590-19-042985-index.html Edgar Link pending
0001564590-19-042985.txt Edgar Link pending
0001564590-19-042985-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gkcnr02f4ap2000001.jpg Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
snss-10q_20190930.htm Edgar Link pending
snss-20190930.xml Edgar Link completed
snss-20190930.xsd Edgar Link pending
snss-20190930_cal.xml Edgar Link unprocessable
snss-20190930_def.xml Edgar Link unprocessable
snss-20190930_lab.xml Edgar Link unprocessable
snss-20190930_pre.xml Edgar Link unprocessable
snss-ex311_7.htm Edgar Link pending
snss-ex312_6.htm Edgar Link pending
snss-ex321_8.htm Edgar Link pending