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EIDX Eidos Therapeutics

Eidos Therapeutics, Inc. focuses on addressing the large and growing unmet need in diseases caused by transthyretin (TTR) amyloidosis (ATTR). Its product include the AG10, an orally-administered small molecule designed to potently stabilize TTR, suggesting a treatment with the potential to halt the progression of ATTR. The company was founded by Graef Isabella and Alhamadsheh Mamoun on August 6, 2013 and is headquartered in San Francisco, CA.

Company profile

Ticker
EIDX
Exchange
Website
CEO
Neil Kumar
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
463733671

EIDX stock data

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)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

28 Oct 20
21 Oct 21
31 Dec 21
Quarter (USD)
Sep 20 Jun 20 Mar 20 Sep 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 147.33M 147.33M 147.33M 147.33M 147.33M 147.33M
Cash burn (monthly) 9.16M (positive/no burn) 9.8M 6.19M 9.21M 4.8M
Cash used (since last report) 116.47M n/a 124.56M 78.67M 117.07M 60.98M
Cash remaining 30.85M n/a 22.77M 68.66M 30.26M 86.35M
Runway (months of cash) 3.4 n/a 2.3 11.1 3.3 18.0

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
26 Jan 21 BridgeBio Pharma Common Stock Buy Acquire P No No 0 14,428,836 0 1,000
26 Jan 21 Sinha Uma Common Stock Dispose U No No 0 303,525 0 0
26 Jan 21 Sinha Uma Stock Option Common Stock Sale back to company Dispose D No No 13.2 60,000 792K 0
26 Jan 21 Hooper Suzanne Sawochka RSU Common Stock Sale back to company Dispose D No No 0 4,526 0 0
26 Jan 21 Hooper Suzanne Sawochka Stock Option Common Stock Sale back to company Dispose D No No 41.42 21,447 888.33K 0
26 Jan 21 Lis William Stock Option Common Stock Sale back to company Dispose D No No 13.67 43,056 588.58K 0
26 Jan 21 Lis William Stock Option Common Stock Sale back to company Dispose D No No 30.87 21,528 664.57K 0
26 Jan 21 Lis William Stock Option Common Stock Sale back to company Dispose D No No 48.51 21,528 1.04M 0
26 Jan 21 Satvat Ali J. Stock Option Common Stock Sale back to company Dispose D No No 20.34 43,056 875.76K 0
26 Jan 21 Satvat Ali J. Stock Option Common Stock Sale back to company Dispose D No No 30.87 21,528 664.57K 0

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

96.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 123 91 +35.2%
Opened positions 47 12 +291.7%
Closed positions 15 13 +15.4%
Increased positions 24 21 +14.3%
Reduced positions 38 37 +2.7%
13F shares
Current Prev Q Change
Total value 3.69B 744.86M +395.0%
Total shares 37.6M 12.18M +208.7%
Total puts 68.5K 110.2K -37.8%
Total calls 33.7K 35K -3.7%
Total put/call ratio 2.0 3.1 -35.4%
Largest owners
Shares Value Change
BBIO BridgeBio Pharma 24.58M $1.81B NEW
Ra Capital Management 1.8M $132.2M -16.9%
BLK Blackrock 1.56M $204.9M +3.1%
Aisling Capital Management 1.12M $147.85M 0.0%
Vanguard 905.34K $119.13M +24.0%
Perceptive Advisors 686.92K $90.39M 0.0%
Magnetar Financial 599.33K $78.86M NEW
Redmile 452.3K $59.51M -3.0%
Gilder Gagnon Howe & Co 333.18K $43.84M -0.6%
Eventide Asset Managment 317.42K $41.77M 0.0%
Largest transactions
Shares Bought/sold Change
BBIO BridgeBio Pharma 24.58M +24.58M NEW
Cormorant Asset Management 0 -993.19K EXIT
Magnetar Financial 599.33K +599.33K NEW
Artisan Partners Limited Partnership 0 -430.71K EXIT
Ra Capital Management 1.8M -364.93K -16.9%
Balyasny Asset Management 297.18K +297.18K NEW
CNH Partners 274.85K +274.85K NEW
DLD Asset Management 239.76K +239.76K NEW
Affinity Asset Advisors 225K +225K NEW
Alpine Associates Management 184.22K +184.22K NEW

Financial report summary

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Risks
  • Risks related to the pending transaction with BridgeBio
  • We may not complete the pending transaction with BridgeBio within the time frame we anticipate, or at all, which could have an adverse effect on our business, financial results and/or operations.
  • While the Merger Agreement is in effect, we are subject to restrictions on our business activities.
  • During the pendency of the transaction with BridgeBio, the Company will be subject to business uncertainties which could adversely affect our business, financial results and/or operations.
  • The Merger Agreement contains provisions that limit our ability to pursue alternatives to the transaction with BridgeBio.
  • We and BridgeBio may be targets of legal proceedings that could result in substantial costs and may delay or prevent the transaction from being completed.
  • We have incurred, and will continue to incur, direct and indirect costs as a result of the pending transaction with BridgeBio.
  • If completed, the transaction between us and BridgeBio may not achieve its intended results.
  • After the completion of the transaction, our stockholders will have a significantly lower ownership and voting interest in BridgeBio than they currently have in the Company and will exercise less influence over management.
  • The following risk factors assume that we remain a stand-alone company except as otherwise noted.
  • Risks related to our financial position and need for additional capital
  • Drug development is a highly uncertain undertaking and involves a substantial degree of risk. We have incurred significant losses since our inception and anticipate that we will continue to incur significant losses for the foreseeable future. We have only one product candidate in development and have not generated any revenue from product sales since our inception, which, together with our limited operating history, may make it difficult for you to assess our future viability.
  • We will require substantial additional funding to achieve our business goals. If we are unable to obtain this funding when needed and on acceptable terms, we could be forced to delay, limit or terminate our product development efforts.
  • We are party to a loan and security agreement that contains operating and financial covenants that may restrict our business and financing activities.
  • Raising additional capital may cause dilution to our existing stockholders, restrict our operations or require us to relinquish rights to acoramidis or any future product candidates which we develop on unfavorable terms to us.
  • Risk related to our business and the clinical development, regulatory review and approval of our product candidates
  • We are heavily dependent on the success of our only product candidate, acoramidis, and we have not identified any other clinical development candidates through our research activities. If we are unable to successfully complete clinical development, obtain regulatory approval for, or commercialize acoramidis, or experience delays in doing so, our business will be materially harmed.
  • If we are unable to obtain regulatory approval in one or more jurisdictions for acoramidis or any other product candidates that we may identify and develop, our business will be substantially harmed.
  • We may encounter substantial delays in our clinical trials, or may not be able to conduct or complete our clinical trials on the timelines we expect, if at all.
  • We may encounter difficulties enrolling patients in our clinical trials, and our clinical development activities could thereby be delayed or otherwise adversely affected.
  • Our clinical trials may fail to demonstrate substantial evidence of the safety and effectiveness of acoramidis or any other product candidates that we may identify and pursue, which would prevent, delay or limit the scope of regulatory approval and commercialization.
  • Results of earlier studies or clinical trials, including cross-trial comparisons of results that are not derived from head-to-head clinical trials, may not be predictive of future clinical trial results, and initial studies or clinical trials may not establish an adequate safety or efficacy profile for acoramidis and other product candidates that we may pursue to justify proceeding to advanced clinical trials or an application for regulatory approval.
  • If serious adverse events or unacceptable side effects are identified during the development of acoramidis or other product candidates that we may develop, we may need to delay, limit or terminate our clinical development activities.
  • We intend to conduct clinical trials for acoramidis or other product candidates that we may identify outside the United States, and the FDA and comparable foreign regulatory authorities may not accept data from such trials.
  • Even if we obtain FDA approval for acoramidis or any other product candidates that we may identify and pursue in the United States, we may never obtain approval to commercialize acoramidis or other product candidates that we may develop outside of the United States, which would limit our ability to realize their full market potential.
  • Although the FDA and EMA have granted orphan drug designation for acoramidis for the treatment of transthyretin amyloidosis, we may not receive orphan drug designation for any other product candidates for which we may submit orphan drug designation requests, and any orphan drug designations that we have received or may receive in the future may not confer marketing exclusivity or other expected commercial benefits for acoramidis or any of our other product candidates.
  • We may not elect or be able to take advantage of any expedited development or regulatory review and approval processes available to product candidates granted breakthrough therapy or fast track designation by the FDA.
  • Even if we obtain regulatory approval for a product candidate, our products will remain subject to extensive regulatory scrutiny.
  • The FDA and other regulatory agencies actively enforce the laws and regulations prohibiting the promotion of off-label uses.
  • If we engage in acquisitions or strategic partnerships for additional assets or programs, this may increase our capital requirements, dilute our stockholders, cause us to incur debt or assume contingent liabilities, and subject us to other risks.
  • The United Kingdom’s withdrawal from the EU may have a negative effect on our business, global economic conditions, and financial markets.
  • Risks related to our reliance on third parties
  • We expect to rely on third parties to conduct our clinical trials and some aspects of our research and preclinical testing, and those third parties may not perform satisfactorily, including failing to meet deadlines for the completion of such trials, research, or testing.
  • We rely entirely on third parties for the manufacturing of acoramidis or other product candidates that we may develop for preclinical studies and clinical trials and expect to continue to do so for commercialization. Our business could be harmed if those third parties fail to provide us with sufficient quantities of drug product, or fail to do so at acceptable quality levels or prices.
  • Risks related to our intellectual property
  • If we are unable to obtain and maintain sufficient intellectual property protection for acoramidis or other product candidates that we may identify, or if the scope of the intellectual property protection obtained is not sufficiently broad, our competitors could develop and commercialize product candidates similar or identical to ours, and our ability to successfully commercialize acoramidis and other product candidates that we may pursue may be impaired.
  • If we fail to comply with our obligations in the agreements under which we license intellectual property rights from third parties or these agreements are terminated or we otherwise experience disruptions to our business relationships with our licensors, we could lose intellectual property rights that are important to our business.
  • Patent terms may be inadequate to protect our competitive position on our product candidates for an adequate amount of time.
  • If we are unable to protect the confidentiality of our trade secrets, the value of our technology could be materially adversely affected and our business would be harmed.
  • We may be subject to claims challenging the inventorship of our patents and other intellectual property.
  • Issued patents covering our product candidates could be found invalid or unenforceable if challenged in court.
  • Obtaining and maintaining our patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
  • We may not be able to protect our intellectual property rights throughout the world.
  • Risks related to commercialization
  • Even if acoramidis or any other product candidates we may develop receive marketing approval, they may fail to achieve the degree of market acceptance by physicians, patients, healthcare payors, and others in the medical community necessary for commercial success.
  • If, in the future, we are unable to establish sales and marketing capabilities or enter into agreements with third parties to sell and market any product candidates we may develop, we may not be successful in commercializing those product candidates if and when they are approved.
  • The insurance coverage and reimbursement status of newly-approved products is uncertain. Acoramidis and any other product candidates that we may develop may become subject to unfavorable pricing regulations, third-party reimbursement practices, or healthcare reform initiatives, which would harm our business. Failure to obtain or maintain adequate coverage and reimbursement for new or current products could limit our ability to market those products and decrease our ability to generate revenue.
  • If we fail to comply with healthcare and data privacy laws, we could face substantial penalties and our business, operations and financial conditions could be adversely affected.
  • Healthcare legislative measures aimed at reducing healthcare costs may have a material adverse effect on our business and results of operations.
  • If the market opportunities for acoramidis are smaller than we believe they are, our revenue may be adversely affected, and our business may suffer. Our ability to successfully identify patients and acquire a significant market share will be necessary for us to achieve profitability and growth.
  • Risks related to our business and industry
  • Certain of our directors and officers may have actual or potential conflicts of interest because of their positions with BridgeBio and may not be able to or may choose not to devote sufficient time and attention to our company.
  • Our future success depends on our ability to retain key management, employees, consultants and advisors and to attract, retain and motivate qualified personnel.
  • We will need to expand our organization and we may experience difficulties in managing this growth, which could disrupt our operations.
  • We may expend our limited resources to pursue a particular product candidate and fail to capitalize on development opportunities or product candidates that may be more profitable or for which there is a greater likelihood of success.
  • Product liability lawsuits against us could cause us to incur substantial liabilities and could limit commercialization of any product candidates that we may develop.
  • Unfavorable global economic conditions could adversely affect our business, financial condition or results of operations.
  • Our internal computer systems, or those used by our third-party research institution collaborators, CROs or other service providers or consultants, may fail or suffer security breaches, which could result in a material disruption of our product candidates’ development programs and have a material adverse effect on our reputation, business, financial condition or results of operations.
  • We or the third parties upon whom we depend may be adversely affected by earthquakes, outbreak of disease or other natural disasters and our business continuity and disaster recovery plans may not adequately protect us from a serious disaster.
  • Our international operations may expose us to business, regulatory, political, operational, financial, pricing and reimbursement and economic risks associated with doing business outside of the United States.
  • Risks related to our equity securities
  • We are an “emerging growth company,” and we cannot be certain if the reduced reporting requirements applicable to emerging growth companies will make our common stock less attractive to investors.
  • The market price of our common stock may be highly volatile.
  • Future sales and issuances of our common stock or rights to purchase common stock, including pursuant to our equity incentive plans, would result in additional dilution of the percentage ownership of our stockholders and could cause our stock price to fall.
  • A significant portion of our total outstanding shares may be sold into the market, which could cause the market price of our common stock to decline significantly.
  • Our principal stockholders and management own a significant percentage of our stock and will be able to exert significant control over matters subject to stockholder approval.
  • BridgeBio owns a significant percentage of our common stock, will be able to exert significant control over matters subject to stockholder approval and may have interests that conflict with those of our other stockholders.
  • Our operating results may fluctuate significantly, which makes our future operating results difficult to predict and could cause our operating results to fall below expectations or our guidance.
  • Our future ability to utilize our net operating loss carryforwards and certain other tax attributes may be limited.
  • We do not currently intend to pay dividends on our common stock, and, consequently, our stockholders’ ability to achieve a return on their investment will depend on appreciation in the price of our common stock.
  • Our employees, independent contractors, consultants, commercial partners and vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.
  • We will incur significant costs as a result of operating as a public company, and our management will devote substantial time to compliance initiatives.
Management Discussion
  • License revenue was $26.7 million for the year ended December 31, 2019, and there was no revenue for the year ended December 31, 2018. The increase in license revenue was entirely attributable to revenue recognition related to the Alexion License Agreement for which performance obligations were satisfied.
  • Cost of license revenue was $2.5 million for the year ended December 31, 2019, and there was no cost of license revenue for the year ended December 31, 2018. The increase in cost of license revenue was related to the obligations under the Stanford License Agreement, whereby we are required to pay a portion of license fees received.
  • Research and development expense increased by $18.4 million, or 64%, during the year ended December 31, 2019, compared to the year ended December 31, 2018. The increase was primarily attributable to an increase of $15.4 million in clinical trial related activities and contract manufacturing activities for our clinical trials and drug supply, increased personnel costs of $2.6 million due to a higher headcount, an increase in stock-based compensation of $1.0 million, and an increase in other expenses of $0.3 million,  offset by a decrease in nonclinical expense of $0.6 million due to the timing of projects completed in 2018.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Avg
New words: absent, affirmative, Appraisal, billed, broker, cast, clause, customary, DGCL, Disorder, efficient, entirety, exacerbated, Exhibit, fractional, frame, Genetic, Globe, indirect, intervening, KKR, lieu, match, pendency, plaintiff, preclusive, printing, proration, refrain, restraint, surviving, text, timeframe, unaffiliated, wholly
Removed: Aguiar, amalgamation, announced, disinterested, Eric, IP