$VTYX
Ventyx Biosciences, Inc.

2024 Q1 Form 10-K Financial Statement

#000095017024021160 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.021M $8.326M $32.13M
YoY Change 12.73% -0.72% 26.49%
% of Gross Profit
Research & Development $33.75M $42.02M $175.8M
YoY Change -4.77% 39.21% 100.33%
% of Gross Profit
Depreciation & Amortization $70.00K $58.00K $200.0K
YoY Change 125.81% 26.09% 100.0%
% of Gross Profit
Operating Expenses $41.77M $50.35M $208.0M
YoY Change -1.84% 30.53% 83.84%
Operating Profit -$41.77M -$208.0M
YoY Change -1.84% 83.84%
Interest Expense $3.227M $3.621M $15.07M
YoY Change -10.91% -22.45% 222.85%
% of Operating Profit
Other Income/Expense, Net $3.196M -$28.00K $15.03M
YoY Change -11.74% -97.87% 219.15%
Pretax Income -$38.57M -$46.75M -$192.9M
YoY Change -0.92% 32.77% 270.5%
Income Tax
% Of Pretax Income
Net Earnings -$38.57M -$46.75M -$193.0M
YoY Change -0.92% 32.77% 77.97%
Net Earnings / Revenue
Basic Earnings Per Share -$0.62 -$3.30
Diluted Earnings Per Share -$0.62 -$0.79 -$3.30
COMMON SHARES
Basic Shares Outstanding 59.25M 59.05M 58.54M
Diluted Shares Outstanding 61.83M 58.54M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $302.6M $252.2M $252.2M
YoY Change -19.72% -20.67% -20.67%
Cash & Equivalents $141.9M $51.58M $51.58M
Short-Term Investments $160.7M $200.6M $200.6M
Other Short-Term Assets $17.18M $12.13M $12.13M
YoY Change 69.47% -4.88% -4.88%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $319.8M $264.3M $264.3M
YoY Change -17.39% -20.06% -20.06%
LONG-TERM ASSETS
Property, Plant & Equipment $828.0K $762.0K $12.27M
YoY Change 41.3% 87.22% 531.22%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00 $0.00
YoY Change -100.0% -100.0%
Other Assets $102.0K $102.0K $1.077M
YoY Change 6.25% 6.25% 1021.88%
Total Long-Term Assets $12.32M $13.35M $13.35M
YoY Change 481.63% -67.21% -67.21%
TOTAL ASSETS
Total Short-Term Assets $319.8M $264.3M $264.3M
Total Long-Term Assets $12.32M $13.35M $13.35M
Total Assets $332.1M $277.7M $277.7M
YoY Change -14.67% -25.23% -25.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.583M $5.756M $5.756M
YoY Change -14.79% -10.52% -10.52%
Accrued Expenses $8.005M $15.51M $16.51M
YoY Change -16.06% 63.0% 66.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.53M $22.27M $22.27M
YoY Change -12.0% 36.1% 36.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $10.55M $11.51M $11.51M
YoY Change 918.15% 903.93% 903.93%
Total Long-Term Liabilities $10.55M $11.51M $11.51M
YoY Change 918.15% 903.93% 903.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.53M $22.27M $22.27M
Total Long-Term Liabilities $10.55M $11.51M $11.51M
Total Liabilities $25.08M $33.77M $33.77M
YoY Change 42.91% 92.92% 92.92%
SHAREHOLDERS EQUITY
Retained Earnings -$457.8M -$419.2M
YoY Change 72.64% 85.32%
Common Stock $7.000K $6.000K
YoY Change 16.67% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $307.0M $243.9M $243.9M
YoY Change
Total Liabilities & Shareholders Equity $332.1M $277.7M $277.7M
YoY Change -14.67% -25.23% -25.23%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$38.57M -$46.75M -$193.0M
YoY Change -0.92% 32.77% 77.97%
Depreciation, Depletion And Amortization $70.00K $58.00K $200.0K
YoY Change 125.81% 26.09% 100.0%
Cash From Operating Activities -$47.63M -$51.65M -$166.5M
YoY Change 54.02% 9.28% 68.59%
INVESTING ACTIVITIES
Capital Expenditures $175.0K $214.0K $514.0K
YoY Change 191.67% 91.07% 86.91%
Acquisitions
YoY Change
Other Investing Activities $41.94M $46.33M $101.5M
YoY Change -322.67% -132.92% -235.9%
Cash From Investing Activities $41.77M $46.12M $100.9M
YoY Change -321.04% -132.75% -234.71%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 96.18M 589.0K 53.33M
YoY Change 97.72% -105.69% -68.21%
NET CHANGE
Cash From Operating Activities -47.63M -51.65M -166.5M
Cash From Investing Activities 41.77M 46.12M 100.9M
Cash From Financing Activities 96.18M 589.0K 53.33M
Net Change In Cash 90.32M -4.943M -12.27M
YoY Change -7953.83% -97.51% 105.38%
FREE CASH FLOW
Cash From Operating Activities -$47.63M -$51.65M -$166.5M
Capital Expenditures $175.0K $214.0K $514.0K
Free Cash Flow -$47.80M -$51.87M -$167.0M
YoY Change 54.29% 9.48% 68.64%

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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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<p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="font-size:10pt;margin-top:10pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated financial statements and accompanying notes. On an</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">ongoing </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">basis, the Company evaluates its estimates and judgments, which are based on historical and anticipated results and trends and on various other assumptions that management believes to be reasonable under the circumstances. Significant estimates include, but are not limited to, estimates related to prepaid and accrued clinical trial and research and development costs, the measurement of the fair value of stock-based awards, available-for-sale marketable securities, the measurement of operating lease right-of-use assets and operating lease liabilities, and the evaluation of long-lived assets for impairment. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.</span>
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023 us-gaap Concentration Risk Credit Risk
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CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
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CY2023 us-gaap Lessee Operating Lease Existence Of Option To Terminate
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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348000
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1378000
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860000
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1208000
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0
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IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2023Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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1800000

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