Achilles reports Third Quarter Financial Results

Companies

Syncona Limited NPV (SYNC)

UK 100

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	September 30,			December 31,
	2021			2020
ASSETS
Current assets:
Cash and cash equivalents	$	281,875		$	177,849
Prepaid expenses and other current assets		16,401			9,948
Total current assets		298,276			187,797
Non-current assets:
Property and equipment, net		16,378			13,369
Operating lease right of use assets		11,938			14,740
Deferred tax assets		4			4
Restricted cash		33			-
Other assets		3,370			3,008
Total non-current assets		31,723			31,121
TOTAL ASSETS	$	329,999		$	218,918
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	2,460		$	6,314
Income taxes payable		36			7
Accrued expenses and other liabilities		8,472			6,590
Operating lease liabilities-current		4,398			3,712
Total current liabilities		15,366			16,623
Non-current liabilities:
Operating lease liabilities-non-current		8,881			12,271
Other long-term liability		643			652
Total non-current liabilities		9,524			12,923
Total liabilities		24,890			29,546
Commitments and contingencies (Note 12)
Shareholders' equity:
Ordinary shares, £0.001 par value; 40,603,489 and 4,389,920 shares authorized, issued and outstanding at September 30, 2021 and December 31, 2020, respectively		54			6
Deferred shares, £92,451.851 par value, one share authorized, issued and outstanding at September 30, 2021; Deferred shares, £0.001 par value; 30,521 shares issued and outstanding December 31, 2020		128			-
Convertible preferred shares, £0.001 par value; no shares authorized, issued and outstanding as of September 30, 2021;104,854,673 shares authorized, issued and outstanding at December 31, 2020		-			134
Additional paid in capital		400,058			234,922
Accumulated other comprehensive income		5,750			12,322
Accumulated deficit		(100,881	)		(58,012	)
Total shareholders' equity		305,109			189,372
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$	329,999		$	218,918

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
OPERATING EXPENSES:
Research and development	$	10,697		$	5,291		$	30,417		$	13,668
General and administrative		5,041			3,009			15,318			7,140
Total operating expenses		15,738			8,300			45,735			20,808
Loss from operations		(15,738	)		(8,300	)		(45,735	)		(20,808	)
OTHER INCOME, NET:
Other income		2,806			90			2,907			529
Total other income, net		2,806			90			2,907			529
Loss before provision for income taxes		(12,932	)		(8,210	)		(42,828	)		(20,279	)
Provision for income taxes		(16	)		-			(41	)		-
Net loss		(12,948	)		(8,210	)		(42,869	)		(20,279	)
Other comprehensive income:
Foreign exchange translation adjustment		(7,710	)		3,501			(6,572	)		(3,088	)
Comprehensive loss	$	(20,658	)	$	(4,709	)	$	(49,441	)	$	(23,367	)
Net loss per share attributable to ordinary shareholders-basic and diluted	$	(0.34	)	$	(7.50	)	$	(1.69	)	$	(21.16	)
Weighted average ordinary shares outstanding-basic and diluted		38,261,480			1,094,543			25,329,672			958,373