UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
Form 10-Q
(Mark One)
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the Quarterly Period Ended September 30, 2018
OR
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission file number 001-38137
Akcea Therapeutics, Inc.
(Exact name of Registrant as specified in its charter)
Delaware |
| 47-2608175 |
(State or other jurisdiction of incorporation or organization) |
| (IRS Employer Identification No.) |
22 Boston Wharf Road, 9 th Floor, Boston, MA 02210
(Address of principal executive offices, including zip code)
617-207-0202
(Registrant's telephone number, including area code)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act:
Large accelerated filer | ☐ |
| Accelerated filer | ☐ |
Non-accelerated filer | ☒ |
| Smaller reporting company | ☐ |
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| Emerging growth company | ☒ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12(b)-2 of the Securities Exchange Act of 1934). Yes ☐ No ☒
The number of shares of common stock outstanding as of October 31, 2018 was 89,210,927.
AKCEA THERAPEUTICS, INC.
FORM 10-Q
INDEX
PART I | FINANCIAL INFORMATION |
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Item 1. | Financial Statements (unaudited): |
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| Condensed Consolidated Balance Sheets as of September 30, 2018 and December 31, 2017 (as revised) |
| 3 |
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| Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2018 and 2017 (as revised) |
| 4 |
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| Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2018 and 2017 (as revised) |
| 5 |
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| Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2018 and 2017 (as revised) |
| 6 |
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| Notes to Condensed Consolidated Financial Statements |
| 8 |
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Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations: |
| 24 |
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| Overview |
| 24 |
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| Results of Operations |
| 30 |
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| Liquidity and Capital Resources |
| 32 |
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Item 3. | Quantitative and Qualitative Disclosures about Market Risk |
| 35 |
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Item 4. | Controls and Procedures |
| 35 |
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PART II | OTHER INFORMATION |
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Item 1. | Legal Proceedings |
| 37 |
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Item 1A | Risk Factors |
| 37 |
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Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
| 64 |
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Item 3. | Defaults Upon Senior Securities |
| 64 |
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Item 4. | Mine Safety Disclosures |
| 64 |
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Item 5. | Other Information |
| 64 |
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Item 6. | Exhibits |
| 65 |
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Signatures |
| 66 | |
TRADEMARKS
"Akcea," the Akcea logo, and other trademarks or service marks of Akcea Therapeutics, Inc. appearing in this Report are the property of Akcea Therapeutics, Inc. This Report contains additional trade names, trademarks and service marks of others, which are the property of their respective owners. Solely for convenience, trademarks and trade names referred to in this Report may appear without the ® or TM symbols .
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