Achilles reports Q1 2024 Financial Results

Companies

Syncona Limited NPV (SYNC)

All directors dealings today

	March 31,	December 31,
	2024	2023
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$112,322	$131,539
Prepaid expenses and other current assets	19,104	14,094
Total current assets	131,426	145,633
Property and equipment, net	8,107	9,171
Operating lease right of use assets	3,965	4,372
Deferred tax assets	41	41
Restricted cash	33	33
Other assets	2,169	2,206
Total non-current assets	14,315	15,823
Total assets	$145,741	$161,456
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$3,313	$5,629
Accrued expenses and other liabilities	6,712	7,828
Operating lease liabilities - current	3,628	3,539
Total current liabilities	13,653	16,996
NON-CURRENT LIABILITIES:
Operating lease liabilities - non-current	584	1,076
Other long-term liability	1,156	1,015
Total non-current liabilities	1,740	2,091
Total liabilities	15,393	19,087

Commitments and contingencies
SHAREHOLDERS' EQUITY:
Ordinary shares, £0.001 par value; 41,087,901 and 41,082,948 shares authorized, issued and outstanding at March 31, 2024 and December 31, 2023, respectively	54	54
Deferred shares, £92,451.85 par value, one share authorized, issued and outstanding at March 31, 2024 and December 31, 2023, respectively	128	128
Additional paid in capital	416,602	415,210
Accumulated other comprehensive income	(14,210)	(13,071)
Accumulated deficit	(272,226)	(259,952)
Total shareholders' equity	130,348	142,369
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$145,741	$161,456

		Three Months Ended
		March 31,
		2024	2023
OPERATING EXPENSES:
	Research and development	$ 10,140	$ 13,868
	General and administrative	4,159	4,685
	Total operating expenses	14,299	18,553
LOSS FROM OPERATIONS:		(14,299)	(18,553)
OTHER INCOME (EXPENSE), NET:
	Other income (expense)	2,002	1,091
	Total other income (expense), net	2,002	1,091
Loss before income taxes		(12,297)	(17,462)
	Benefit (provision) for income taxes	23	(44)
Net loss		(12,274)	(17,506)
Other comprehensive (loss) income:
	Foreign exchange translation adjustment	(1,139)	3,977
Comprehensive loss		$ (13,413)	$ (13,529)
Net loss per share attributable to ordinary shareholders-basic and diluted		$ (0.30)	$ (0.44)
Weighted average ordinary shares outstanding-basic and diluted		40,281,407	39,732,186