ࡱ; zw  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvy{Root Entry  \pCalc Ba=: =@ 8X@"1Calibri1Arial1Arial1Arial1Calibri1Calibri General3._(\$* #,##0_);_(\$* \(#,##0\);_(\$* \-_);_(@_) #,##0\(#,##0_);[RED]\(#,##0\)!"($"#,##0_);[RED]"($"#,##0\)'""($"#,##0.00_);[RED]"($"#,##0.00\) #,##0.00                + ) , *   ( " " *8   # #4 # #8   ( # "8 #4 #4 (   "  ( ` 2condensed balance sheets";>condensed statements of op"Icondensed statements of re"shcondensed statements of cavnet loss per share {net loss per share-1net loss per share-2net loss per share-3"}notes to condensed financioperating leases+operating leases-1"Ccomparison of the three mo"research and development e$research and development e-1) september$research and development e-2$research and development e-3"+liquidity and capital resoK exhibit index$phasebio pharmaceuticals inc&5phasebio pharmaceuticals inc-1&phasebio pharmaceuticals inc-2&ephasebio pharmaceuticals inc-3&phasebio pharmaceuticals inc-4silicon valley bank inc&phasebio pharmaceuticals inc-5"westriver innovation lendi$qwestriver innovation lendi-1T:2t     3  @@   CONDENSED BALANCE SHEETSSeptember30, 2019December31, 2018AssetsCurrent assets:Cash and cash equivalentsRestricted cash Other receivable!Prepaid expenses and other assetsTotal current assetsProperty and equipment, net#Operating lease right-of-use assets Other assets Total assets$Liabilities and stockholders' equityCurrent liabilities:!Current portion of long-term debt$ Accounts payable.Accrued expenses and other current liabilitiesTotal current liabilitiesLong-term debtOperating lease liabilitiesOther long-term liabilities Deferred rentTotal liabilities&Commitments and contingencies (Note 7)Stockholders equity:Preferred stock, $0.001 par value; 10,000,000 shares authorized at September 30, 2019 and December 31, 2018; zero shares issued and outstanding at September 30, 2019 and December 31, 2018Common stock, $0.001 par value; 200,000,000 shares authorized; 28,782,811 shares issued and 28,752,844 shares outstanding at September 30, 2019; 24,528,242 shares issued and 24,498,275 shares outstanding at December 31, 2018UTreasury stock, at cost, 29,967 shares as of September 30, 2019 and December 31, 2018Additional paid-in capitalAccumulated deficitTotal stockholders equity*Total liabilities and stockholders' equity$CONDENSED STATEMENTS OF OPERATIONS Three Months Ended September30,Nine Months Ended September 30,20192018Revenue: Grant revenue%Revenue under collaborative agreement Total revenueOperating expenses:Research and developmentGeneral and administrativeTotal operating expensesLoss from operationsOther income (expense):Interest incomeInterest expenseForeign exchange gain (loss))Change in fair value of warrant liability,Change in fair value of derivative liabilityTotal other income (expense)Net loss,Net loss per common share, basic and diluted=Weighted average common shares outstanding, basic and dilutedcCONDENSED STATEMENTS OF REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS EQUITY (DEFICIT)Stockholders' Equity (Deficit)Redeemable Convertible AdditionalTotal Stockholders'Preferred Stock Common StockTreasury StockPaid-in AccumulatedEquitySharesAmountCapitalDeficit (Deficit)Balance at December31, 2018!Issuance of common stock warrantsExercises of stock optionsStock-based compensationBalance at March 31, 20190Issuance of common stock in public offering, netBalance at June 30, 2019Balance at September30, 2019Balance at December31, 2017>Accretion of redeemable preferred stock to redemption valueBalance at March 31, 2018Balance at June 30, 2018&Issuance of redeemable preferred stockMIssuance of redeemable preferred stock upon conversion of promissory notesExercises of warrantsBalance at September30, 2018"CONDENSED STATEMENTS OF CASH FLOWSNine Months Ended September30,Operating activitiesKAdjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortizationNon-cash interest expense&Change in fair value warrant liability)Change in fair value derivative liability,Changes in operating assets and liabilities:Accrued expenses%Net cash used in operating activitiesInvesting activities#Purchases of property and equipment%Net cash used in investing activitiesFinancing activitiesEProceeds from issuance of redeemable convertible preferred stock, net>Proceeds from issuance of common stock in public offering, netLong-term borrowings, net)Payments of initial public offering costs'Proceeds from exercise of stock options"Proceeds from exercise of warrantsRepayments of long-term debt)Net cash provided by financing activities)Net increase in cash and cash equivalentsICash, cash equivalents and restricted cash at the beginning of the periodCCash, cash equivalents and restricted cash at the end of the period%Supplemental disclosure for cash flowCash paid for interestFSupplemental disclosure of non-cash investing and financing activities5Accrued interest on term loan refinanced to principalYConversion of convertible promissory notes into redeemable convertible preferred stock-Issuance of warrants in conjunction with debt"Debt refinanced with new term loanZInitial recognition of operating lease right-of-use assets and operating lease liabilities3Accretion of redeemable convertible preferred stockfWarrant liability converted to redeemable convertible preferred stock upon the exercise of warrantsXDeferred initial public offering costs included in accounts payable and accrued expenses@Purchases of property and equipment included in accounts payableNet Loss Per ShareAs of September30,&Redeemable convertible preferred stockCommon stock options!Warrants to purchase common stock;Warrants to purchase redeemable convertible preferred stockTotal)Fair Value Measurements at Reporting DateLevel 1Level 2Level 3As of September30, 2019:Cash equivalentsAs of December31, 2018:As of Lab equipment)Computer hardware, software and telephoneFurniture and fixturesLeasehold improvementsConstruction in progressLess accumulated depreciation"Accrued clinical and related costs&Accrued compensation and related costsAccrued interest%Operating lease liability, short-term Accrued other'Notes to Condensed Financial StatementsYears Ending December 31,2019 (remaining three months)2020202120222023 ThereafterOperating LeasesYear Ending December 31,Total future lease paymentsLess: Present value adjustment Three Months Ended September30,Nine Months Ended September30,Total stock-based compensation@Comparison of the Three Months Ended September 30, 2019 and 2018ChangeForeign exchange gain Research and Development Expense$Preclinical and clinical development!Compensation and related benefitsFacilities expenseOther'Total research and development expenses5External research and development expense by program:PB2452PB1046-Unallocated research and development expense:)Compensation and stock-based compensationOther research and development SeptemberForeign exchange lossLiquidity and Capital ResourcesEXHIBIT INDEXIncorporated by ReferenceExhibit Number Exhibit TitleFormFile No.Exhibit Filing DateSAmended and Restated Certificate of Incorporation of PhaseBio Pharmaceuticals, Inc.8-K 001-38697October 22, 2018=Amended and Restated Bylaws of PhaseBio Pharmaceuticals, Inc.S-1/A 333-227474October 5, 2018Form of Warrant to Purchase Shares of Series B Redeemable Convertible Preferred Stock, issued by PhaseBio Pharmaceuticals, Inc. on December 22, 2009.S-1September 21, 2018Warrant to Purchase Shares of Series C-1 Redeemable Convertible Preferred Stock, issued by PhaseBio Pharmaceuticals, Inc. to Silicon Valley Bank on October 18, 2017.Fourth Amended and Restated Investor Rights Agreement, by and among PhaseBio Pharmaceuticals, Inc. and certain of its stockholders, dated August 27, 2018.~Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to Silicon Valley Bank on March 25, 2019.10-KMarch 26, 2019Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to WestRiver Innovation Lending Fund VIII, L.P. on March 25, 2019.Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to WestRiver Innovation Lending Fund VIII, L.P. on July 26, 2019.10-QAugust 14, 2019}Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to Silicon Valley Bank on July 26, 2019.4.8#Warrant to Purchase Shares of Common Stock, issued by PhaseBio Pharmaceuticals, Inc. to Silicon Valley Bank on October 2, 2019.4.9#Warrant to Purchase Shares of Common Stock, issued<- by PhaseBio Pharmaceuticals, Inc. to WestRiver Innovation Lending Fund VIII, L.P. on October 2, 2019.31.1#Certification of Chief Executive Officer and President (Principal Executive Officer), pursuant to Section302 of the Sarbanes-Oxley Act of 2002.31.2#Certification of Chief Financial Officer (Principal Financial Officer), pursuant to Section302 of the Sarbanes-Oxley Act of 2002.32.1#*Certification of Chief Executive Officer (Principal Executive Officer),pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section906 of the Sarbanes-Oxley Act of 2002.32.2#*Certification of Chief Financial Officer (Principal Financial Officer),pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section906 of the Sarbanes-Oxley Act of 2002101.INS#XBRL Instance Document.101.SCH#(XBRL Taxonomy Extension Schema Document.101.CAL#6XBRL Taxonomy Extension Calculation Linkbase Document.101.DEF#5XBRL Taxonomy Extension Definition Linkbase Document.101.LAB#0XBRL Taxonomy Extension Label Linkbase Document.101.PRE#7XBRL Taxonomy Extension Presentation Linkbase Document.Phasebio Pharmaceuticals INCDate: November 14, 2019By:/s/ Jonathan P. MowJonathan P. MowChief Executive Officer/s/ John Sharp John SharpChief Financial OfficerPHASEBIO PHARMACEUTICALS, INC.Name:Title:SILICON VALLEY BANK/s/ Myron O. JensenMyron O. 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