Achilles Therapeutics plc

CIK:0001830749|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
OPERATING EXPENSES:
Research and development	$ 58,246	$ 57,263	$ 42,224
General and administrative	17,009	21,120	21,971
Total operating expenses	75,255	78,383	64,195
Loss from operations	(75,255)	(78,383)	(64,195)
OTHER INCOME (EXPENSE), NET:
Other income (expense)	6,081	7,318	3,133
Total other income (expense), net	6,081	7,318	3,133
Loss before provision for income taxes	(69,174)	(71,065)	(61,062)
Provision for income taxes	(491)	(111)	(37)
Net loss	(69,665)	(71,176)	(61,099)
Other comprehensive income:
Foreign exchange translation adjustment	8,624	(28,331)	(5,686)
Comprehensive loss	$ (61,041)	$ (99,507)	$ (66,785)
Net loss per share attributable to ordinary shareholders-basic	$ (1.74)	$ (1.82)	$ (2.13)
Net loss per share attributable to ordinary shareholders-diluted	$ (1.74)	$ (1.82)	$ (2.13)
Weighted average ordinary shares outstanding-basic	39,973,059	39,139,693	28,654,760
Weighted average ordinary shares outstanding-diluted	39,973,059	39,139,693	28,654,760

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (69,665)	$ (71,176)	$ (61,099)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	4,713	3,690	3,288
Loss on disposal of property and equipment	2	(10)	156
Gain on termination of operating lease	(45)
Loss on impairment	16	7,446
Changes in right of use assets and operating lease liabilities, net	(231)	(601)	(18)
Non-cash loss on foreign currency remeasurement	(5)	50	3
Non-cash share-based compensation	6,357	7,022	6,317
Changes in operating assets and liabilities
Prepaid expenses and other current assets	10,109	(6,845)	(9,771)
Accounts payable	257	1,907	(2,572)
Income taxes payable	(326)	326	(7)
Accrued expenses and other liabilities	(801)	(1,114)	4,937
Other long-term liability	33	321	47
Deferred tax assets	210	(225)	(22)
Other assets	927	(326)	(543)
Net cash used in operating activities	(48,449)	(59,535)	(59,284)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(1,100)	(7,512)	(7,634)
Net cash used in investing activities	(1,100)	(7,512)	(7,634)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of shares	9	1
Issuance of ADRs in initial public offering, net of issuance costs under the employee share purchase plan			160,755
Net cash provided by financing activities	9	1	160,755
Effect of exchange rate changes on cash equivalents and restricted cash	7,741	(25,935)	(5,334)
Net (decrease) increase in cash	(41,799)	(92,981)	88,503
Cash, cash equivalents and restricted cash, beginning of year	173,371	266,352	177,849
Cash, cash equivalents and restricted cash, end of year	131,572	173,371	266,352
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Right of use assets obtained in exchange for new operating lease liabilities	2,108	2,111	314
Right of use assets terminated in exchange for operating lease liabilities, net	(1,916)
Property and equipment purchases in accrued expenses	540	649	726
Cash paid for income taxes	626	76	8
Cash and cash equivalents	131,539	173,338	266,319
Restricted cash	$ 33	$ 33	$ 33

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 131,539	$ 173,338
Prepaid expenses and other current assets	14,094	23,242
Total current assets	145,633	196,580
Non-current assets:
Property and equipment, net	9,171	12,399
Operating lease right of use assets	4,372	8,081
Deferred tax assets	41	251
Restricted cash	33	33
Other assets	2,206	3,014
Total non-current assets	15,823	23,778
TOTAL ASSETS	161,456	220,358
Current liabilities:
Accounts payable	5,629	5,187
Income taxes payable		326
Accrued expenses and other liabilities	7,828	8,292
Operating lease liabilities—current	3,539	4,188
Total current liabilities	16,996	17,993
Non-current liabilities:
Operating lease liabilities-non-current	1,076	4,388
Other long-term liability	1,015	933
Total non-current liabilities	2,091	5,321
Total liabilities	19,087	23,314
Commitments and contingencies (Note 12)
Shareholders' equity:
Ordinary shares, pound 0.001 par value; 41,082,948 and 40,932,727 shares authorized, issued and outstanding at December 31,2023 and 2022, respectively	54	54
Deferred shares, pound 92,451.851 par value, one share authorized, issued and outstanding at December 31, 2023 and 2022	128	128
Additional paid in capital	415,210	408,844
Accumulated other comprehensive income	(13,071)	(21,695)
Accumulated deficit	(259,952)	(190,287)
Total shareholders’ equity	142,369	197,044
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 161,456	$ 220,358