Autolus Therapeutics Files Q1 2024 10-Q

TL;DR

Autolus Q1 10-Q filed. Financials and ops update.

AI Summary

Autolus Therapeutics plc filed a 10-Q for the period ending March 31, 2024. The company reported its financial results and operational highlights. Key financial data and business updates are detailed within the filing.

Why It Matters

This filing provides investors with a quarterly update on Autolus Therapeutics' financial health and operational progress, crucial for understanding the company's trajectory in the biopharmaceutical sector.

Risk Assessment

Risk Level: medium — As a biopharmaceutical company, Autolus Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024 Q1 — Reporting Period (First quarter of 2024)
• 12/31 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st)

Key Players & Entities

• Autolus Therapeutics plc (company) — Filer of the 10-Q
• 20240331 (date) — End of the reporting period
• 20240517 (date) — Filing date

FAQ

Key Financial Figures

• $0.000042 — resenting one ordinary share, par value $0.000042 per share AUTL The Nasdaq Global Selec

Filing Documents

• autl-20240331.htm (10-Q) — 1067KB
• autolus-10xqx31032024ex311.htm (EX-31.1) — 14KB
• autolus-10xqx31032024ex312.htm (EX-31.2) — 14KB
• autolus-10xqx31032024ex321.htm (EX-32.1) — 9KB
• 0001730463-24-000064.txt ( ) — 6383KB
• autl-20240331.xsd (EX-101.SCH) — 51KB
• autl-20240331_cal.xml (EX-101.CAL) — 64KB
• autl-20240331_def.xml (EX-101.DEF) — 246KB
• autl-20240331_lab.xml (EX-101.LAB) — 620KB
• autl-20240331_pre.xml (EX-101.PRE) — 436KB
• autl-20240331_htm.xml (XML) — 828KB

– Financial Information

Part I – Financial Information 5

Financial I nformation

Item 1. Financial I nformation 5 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 202 3 ( Unaudited) 5 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 3 1 , 202 4 and 202 3 (Unaudited) 6 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended March 31 , 202 4 and 202 3 (Unaudited) 7 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31 , 202 4 and 202 3 (Unaudited) 8 Notes to the Unaudited Condensed Consolidated Financial Statements 10

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 39

Controls and Procedures

Item 4. Controls and Procedures 40

– Other Information

Part II – Other Information 41

Legal Proceedings

Item 1. Legal Proceedings 41

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 42

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 42

Other Information

Item 5. Other Information 42

Exhibits

Item 6. Exhibits 42

Signatures

Signatures 43 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our strategy, future financial condition, future operations, research and development costs, plans and objectives of management, are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "design," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict," "positioned," "potential," "seek," "should," "target," "will," "would" and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Quarterly Report on Form 10-Q, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. The forward-looking statements in this Quarterly Report on Form 10-Q include, among other things, statements about: the development of our product candidates, including statements regarding the initiation, timing, progress and the results of clinical studies or trials and related preparatory work, the period during which the results of the trials will become available and our research and development programs; our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our ability to advance our product candidates into, and successfully complete, clinical trials; our ability to obtain and maintain regulatory approval of o

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial statements

Item 1. Financial statements AUTOLUS THERAPEUTICS PLC Unaudited Condensed Consolidated Balance Sheets (In thousands, except share and per share amounts) Note March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 758,529 $ 239,566 Restricted cash 1,015 769 Prepaid expenses and other current assets 7 44,754 34,967 Total current assets 804,298 275,302 Non-current assets: Property and equipment, net 8 33,414 34,862 Prepaid expenses and other non-current assets 328 380 Long-term deposits 975 983 Operating lease right-of-use assets, net 59,126 60,791 Deferred tax asset 3,295 3,063 Total assets $ 901,436 $ 375,381 Liabilities and shareholders' equity Current liabilities: Accounts payable $ 1,399 $ 103 Accrued expenses and other liabilities 9 37,768 39,581 Operating lease liabilities, current 4,818 5,053 Total current liabilities 43,985 44,737 Non-current liabilities: Operating lease liabilities, non-current 46,518 47,914 Liabilities related to future royalties and milestones, net 12 228,494 170,899 Other long-term payables 409 357 Total liabilities 319,406 263,907 Commitments and contingencies 14 Shareholders' equity: Ordinary shares, $ 0.000042 par value; 290,909,783 shares authorized as of March 31, 2024 and December 31, 2023; 265,928,023 and 174,101,361 , shares issued at March 31, 2024 and December 31, 2023; 265,998,026 and 174,158,985 , outstanding at March 31, 2024 and December 31, 2023, respectively 12 8 Deferred shares, 0.00001 par value; 34,425 shares authorized, issued and outstanding at March 31, 2024 and December 31, 2023 — — Deferred B shares, 0.00099 par value; 88,893,548 shares authorized, issued and outstanding at March 31, 2024 and December 31, 2023 118 118 Deferred C shares, 0.000008 par value; 1 share authorized, issued and outstanding at March 31, 2024 and December 31, 2023 — — Additional paid-in capital 1,542,086 1,018,902 Accumulated other comprehensive lo

View Full Filing

View this 10-Q filing on SEC EDGAR