$XBIT
XBiotech Inc.

2016 Q2 Form 10-Q Financial Statement

#000117184316011750 Filed on August 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.400M $2.040M
YoY Change 17.65% 209.09%
% of Gross Profit
Research & Development $11.22M $4.382M
YoY Change 155.96% 34.83%
% of Gross Profit
Depreciation & Amortization $170.0K $170.0K
YoY Change 0.0% 13.33%
% of Gross Profit
Operating Expenses $13.62M $6.421M
YoY Change 112.04% 64.22%
Operating Profit -$13.62M $6.421M
YoY Change -312.04%
Interest Expense -$10.00K -$320.0K
YoY Change -96.88%
% of Operating Profit -4.98%
Other Income/Expense, Net -$7.000K -$323.0K
YoY Change -97.83%
Pretax Income -$13.62M -$6.740M
YoY Change 102.08% 72.38%
Income Tax
% Of Pretax Income
Net Earnings -$13.62M -$6.744M
YoY Change 101.99% 72.48%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$420.6K -$215.4K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $64.80M $117.4M
YoY Change -44.8%
Cash & Equivalents $64.80M $117.4M
Short-Term Investments
Other Short-Term Assets $1.500M $3.000M
YoY Change -50.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $66.33M $120.4M
YoY Change -44.91%
LONG-TERM ASSETS
Property, Plant & Equipment $9.779M $6.500M
YoY Change 50.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $26.87M $6.400M
YoY Change 319.89%
TOTAL ASSETS
Total Short-Term Assets $66.33M $120.4M
Total Long-Term Assets $26.87M $6.400M
Total Assets $93.20M $126.8M
YoY Change -26.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.494M $2.300M
YoY Change 269.3%
Accrued Expenses $1.882M $600.0K
YoY Change 213.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $10.38M $2.900M
YoY Change 257.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $10.38M $2.900M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $10.40M $2.900M
YoY Change 258.52%
SHAREHOLDERS EQUITY
Retained Earnings -$154.5M
YoY Change
Common Stock $237.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $82.80M $124.0M
YoY Change
Total Liabilities & Shareholders Equity $93.20M $126.8M
YoY Change -26.5%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$13.62M -$6.744M
YoY Change 101.99% 72.48%
Depreciation, Depletion And Amortization $170.0K $170.0K
YoY Change 0.0% 13.33%
Cash From Operating Activities -$8.250M -$8.860M
YoY Change -6.88% 230.6%
INVESTING ACTIVITIES
Capital Expenditures -$5.850M -$1.640M
YoY Change 256.71% 530.77%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$5.850M -$1.640M
YoY Change 256.71% 530.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 710.0K 75.33M
YoY Change -99.06%
NET CHANGE
Cash From Operating Activities -8.250M -8.860M
Cash From Investing Activities -5.850M -1.640M
Cash From Financing Activities 710.0K 75.33M
Net Change In Cash -13.39M 64.83M
YoY Change -120.65% -2305.1%
FREE CASH FLOW
Cash From Operating Activities -$8.250M -$8.860M
Capital Expenditures -$5.850M -$1.640M
Free Cash Flow -$2.400M -$7.220M
YoY Change -66.76% 198.35%

Facts In Submission

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us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11167000
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-154529000
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-130651000
CY2016Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
32500
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
82804000
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
103050000
CY2015Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
15000
CY2015Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
106000
CY2016Q2 xbit Projected Additional Construction In Progress Expenditures
ProjectedAdditionalConstructionInProgressExpenditures
2200000
us-gaap Use Of Estimates
UseOfEstimates
<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><div style="display: inline; font-weight: bold;">Use of Estimates </div></div><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported values of amounts in the financial statements and accompanying notes. Actual results could differ from those estimates.</div><div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</div><div style=" font-size: 10pt; margin: 0pt 0">Prior to the completion of its initial public offering in April 2015, the Company utilized significant estimates and assumptions in determining the fair value of its common stock. The board of directors determined the estimated fair value of the Company&#x2019;s common stock based on a number of objective and subjective factors, including the prices at which the Company sold shares of its common stock to third parties and external market conditions affecting the biotechnology industry sector.</div></div></div></div></div></div></div></div></div>
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32378412
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
31287855
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
32333199
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
29474783
CY2015Q1 xbit Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
164999
xbit Proceeds From Collection Of Subscription Receivable
ProceedsFromCollectionOfSubscriptionReceivable
xbit Proceeds From Collection Of Subscription Receivable
ProceedsFromCollectionOfSubscriptionReceivable
410000
CY2016Q2 xbit Projected Additional Capital Expenditures
ProjectedAdditionalCapitalExpenditures
6700000

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