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SEC Filings

10-Q
SERES THERAPEUTICS, INC. filed this Form 10-Q on 11/08/2018
Entire Document
 

PART I – FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements (unaudited)

SERES THERAPEUTICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited, in thousands, except share and per share data)

 

 

 

September 30

 

 

December 31,

 

 

 

2018

 

 

2017

 

Assets

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

55,713

 

 

$

36,088

 

Investments

 

 

17,177

 

 

 

113,895

 

Prepaid expenses and other current assets

 

 

6,556

 

 

 

5,095

 

Total current assets

 

 

79,446

 

 

 

155,078

 

Property and equipment, net

 

 

28,083

 

 

 

32,931

 

Restricted cash

 

 

1,513

 

 

 

1,513

 

Total assets

 

$

109,042

 

 

$

189,522

 

Liabilities and Stockholders’ Equity/(Deficit)

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

6,475

 

 

$

7,033

 

Accrued expenses and other current liabilities

 

 

14,634

 

 

 

12,513

 

Deferred revenue - related party

 

 

17,901

 

 

 

12,079

 

Total current liabilities

 

 

39,010

 

 

 

31,625

 

Lease incentive obligation, net of current portion

 

 

7,685

 

 

 

8,989

 

Deferred rent

 

 

2,229

 

 

 

2,233

 

Deferred revenue, net of current portion - related party

 

 

89,554

 

 

 

84,847

 

Other long-term liabilities

 

 

1,129

 

 

 

1,129

 

Total liabilities

 

 

139,607

 

 

 

128,823

 

Commitments and contingencies (Note 10)

 

 

 

 

 

 

 

 

Stockholders’ equity/(deficit):

 

 

 

 

 

 

 

 

Preferred stock, $0.001 par value; 10,000,000 shares authorized at September 30, 2018

   and December 31, 2017; no shares issued and outstanding at September 30, 2018 and

   December 31, 2017

 

 

 

 

 

 

Common stock, $0.001 par value; 200,000,000 shares authorized at September 30, 2018

   and December 31, 2017; 40,844,455 and 40,571,015 shares issued and outstanding

   at September 30, 2018 and December 31, 2017, respectively

 

 

41

 

 

 

40

 

Additional paid-in capital

 

 

337,486

 

 

 

324,376

 

Accumulated other comprehensive loss

 

 

(9

)

 

 

(146

)

Accumulated deficit

 

 

(368,083

)

 

 

(263,571

)

Total stockholders’ equity/(deficit)

 

 

(30,565

)

 

 

60,699

 

Total liabilities and stockholders’ equity

 

$

109,042

 

 

$

189,522

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

 

4



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