2021 Q4 Form 10-Q Financial Statement

#000155198621000118 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $46.99M $53.61M $12.44M
YoY Change 24.16% 330.94% 40.41%
Cash & Equivalents $46.99M $53.61M $12.44M
Short-Term Investments
Other Short-Term Assets $2.992M $2.870M $1.200M
YoY Change 177.03% 139.17% 39.53%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $49.99M $56.48M $13.63M
YoY Change 28.41% 314.27% 40.26%
LONG-TERM ASSETS
Property, Plant & Equipment $16.09K $16.38K $44.97K
YoY Change 43.81% -63.57% 57.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.580K $5.580K $5.580K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $188.3K $201.2K $276.5K
YoY Change -18.68% -27.24% 206.1%
TOTAL ASSETS
Total Short-Term Assets $49.99M $56.48M $13.63M
Total Long-Term Assets $188.3K $201.2K $276.5K
Total Assets $50.17M $56.68M $13.91M
YoY Change 28.13% 307.49% 41.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.434M $1.316M $2.565M
YoY Change 63.61% -48.67% -16.11%
Accrued Expenses $5.968M $5.911M $6.067M
YoY Change 12.81% -2.57% 225.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $1.270M
YoY Change -100.0% -100.0% -67.27%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $8.457M $7.281M $10.11M
YoY Change 23.49% -27.97% -22.98%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $113.1K $127.5K $180.0K
YoY Change -33.45% -29.19%
Total Long-Term Liabilities $113.1K $127.5K $180.0K
YoY Change -33.45% -29.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.457M $7.281M $10.11M
Total Long-Term Liabilities $113.1K $127.5K $180.0K
Total Liabilities $8.570M $7.408M $10.29M
YoY Change 22.15% -28.0% -21.64%
SHAREHOLDERS EQUITY
Retained Earnings -$168.8M -$159.3M -$127.1M
YoY Change 27.85% 25.32% 106.13%
Common Stock $25.82K $25.55K $14.96K
YoY Change 26.2% 70.82% 316.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $41.60M $49.27M $3.621M
YoY Change
Total Liabilities & Shareholders Equity $50.17M $56.68M $13.91M
YoY Change 28.13% 307.49% 41.79%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3

Facts In Submission

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9 METERS BIOPHARMA, INC.
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us-gaap Fair Value Adjustment Of Warrants
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nmtr Warrant Inducement Expense
WarrantInducementExpense
0 USD
nmtr Warrant Inducement Expense
WarrantInducementExpense
7157887 USD
nmtr Asset Acquisition Research And Development In Process
AssetAcquisitionResearchAndDevelopmentInProcess
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nmtr Asset Acquisition Research And Development In Process
AssetAcquisitionResearchAndDevelopmentInProcess
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us-gaap Increase Decrease In Prepaid Expense
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us-gaap Increase Decrease In Prepaid Expense
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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3427 USD
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us-gaap Increase Decrease Of Restricted Investments
IncreaseDecreaseOfRestrictedInvestments
0 USD
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 USD
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
2500000 USD
us-gaap Repayments Of Debt
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58199 USD
us-gaap Repayments Of Debt
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0 USD
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PaymentsOfDebtIssuanceCosts
23000 USD
us-gaap Proceeds From Stock Options Exercised
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226706 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
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34500000 USD
us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Preferred Stock Preference Stock And Warrants
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0 USD
us-gaap Proceeds From Issuance Of Preferred Stock Preference Stock And Warrants
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22560994 USD
us-gaap Payments Of Stock Issuance Costs
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us-gaap Proceeds From Warrant Exercises
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us-gaap Proceeds From Warrant Exercises
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7843050 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37851388 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53608585 USD
CY2020Q2 us-gaap Proceeds From Issuance Of Preferred Stock Preference Stock And Warrants
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrants
22600000 USD
CY2020Q2 nmtr Proceeds From Issuance Of Preferred Stock Preference Stock And Warrants Net
ProceedsFromIssuanceOfPreferredStockPreferenceStockAndWarrantsNet
19200000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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12435982 USD
us-gaap Interest Paid Net
InterestPaidNet
569 USD
us-gaap Interest Paid Net
InterestPaidNet
54578 USD
nmtr Noncash Addition Of Derivative Liability
NoncashAdditionOfDerivativeLiability
0 USD
nmtr Noncash Addition Of Derivative Liability
NoncashAdditionOfDerivativeLiability
370000 USD
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
ReclassificationsCertain prior period amounts have been reclassified to conform to current period presentation. These changes had no effect on previously reported net loss, financial position or cash flows.
CY2020Q4 nmtr Sale Of Stock Shelf Registration Maximum Equity Offering Price
SaleOfStockShelfRegistrationMaximumEquityOfferingPrice
200000000 USD
CY2019Q4 nmtr Class Of Warrant Or Right Number Of Shares Issued Per Warrant
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1.2 shares
CY2020Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
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CY2020Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.10
CY2020Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1200000 USD
CY2020Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.10
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
137130 USD
us-gaap Use Of Estimates
UseOfEstimates
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and disclosures made in the accompanying notes to the financial statements. Areas of the financial statements where estimates may have the most significant effect include accrued expenses, share-based compensation, valuation of the derivative liability and warrant liabilities, valuation allowance for income tax assets, and management’s assessment of the Company’s ability to continue as a going concern. The Company considered the impact of the COVID-19 pandemic on its estimates and assumptions, and concluded there was not a material impact to its condensed consolidated financial statements as of and for the three and nine months ended September 30, 2021. Changes in the facts or circumstances underlying these estimates could result in material changes and actual results could differ from these estimates.</span></div>
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1203218 USD
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1111028 USD
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4571106 USD
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4042277 USD
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5290181 USD
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FairValueAdjustmentOfWarrants
0 USD
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7000 USD
CY2021Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0 USD
us-gaap Fair Value Liabilities Measured On Recurring Basis Change In Unrealized Gain Loss
FairValueLiabilitiesMeasuredOnRecurringBasisChangeInUnrealizedGainLoss
0 USD
CY2021Q3 nmtr Warrants Accumulated Gross Unrealized Gain
WarrantsAccumulatedGrossUnrealizedGain
7000 USD
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-2600000 USD
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
0 USD
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
46300000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
46300000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
57100000 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
57100000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
46305829 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
57114096 shares
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2020Q2 nmtr Number Of Amended And Restated License Agreements
NumberOfAmendedAndRestatedLicenseAgreements
2 license_agreement
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53600000 USD
CY2021Q3 nmtr Milestone Payment
MilestonePayment
500000 USD
nmtr Accrued Milestone Fees
AccruedMilestoneFees
500000 USD
CY2021Q3 nmtr Accrued Milestone Fees
AccruedMilestoneFees
500000 USD
nmtr Accrued Milestone Fees
AccruedMilestoneFees
2200000 USD
CY2020Q3 nmtr Accrued Milestone Fees
AccruedMilestoneFees
2200000 USD
CY2021Q2 nmtr Capital Stock Authorized
CapitalStockAuthorized
560000000 shares
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
550000000 shares
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
600000 shares
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q2 nmtr Convertible Preferred Stock Beneficial Conversion Feature
ConvertiblePreferredStockBeneficialConversionFeature
3100000 USD
CY2020Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2020Q2 us-gaap Preferred Stock Value
PreferredStockValue
12500000 USD
CY2020Q2 nmtr Preferred Stock Warrant Value
PreferredStockWarrantValue
7000000 USD
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
255531751 shares
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
204629064 shares
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
52121283 shares
CY2020Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
66167171 shares
CY2019Q4 nmtr Class Of Warrant Or Right Number Of Shares Issued Per Warrant
ClassOfWarrantOrRightNumberOfSharesIssuedPerWarrant
1.2 shares
nmtr Stock Issued During Period Shares Exercise Of Warrants
StockIssuedDuringPeriodSharesExerciseOfWarrants
1847309 shares
CY2020Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
12230418 shares
CY2020Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1200000 USD
CY2021Q3 nmtr Number Of Stock Option Plans
NumberOfStockOptionPlans
2 plan
CY2021Q2 nmtr Sale Of Stock Extended Option Period
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P12M
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4499000 USD
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
525000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
202000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1884000 USD
nmtr Severance Provisions Annual Base Salary Period
SeveranceProvisionsAnnualBaseSalaryPeriod
P12M
nmtr Severance Provisions Continuation Of Health Insurance Benefits Period
SeveranceProvisionsContinuationOfHealthInsuranceBenefitsPeriod
P12M
us-gaap Severance Costs1
SeveranceCosts1
0 USD
CY2020Q3 us-gaap Severance Costs1
SeveranceCosts1
0 USD
CY2021Q3 us-gaap Severance Costs1
SeveranceCosts1
0 USD
us-gaap Severance Costs1
SeveranceCosts1
800000 USD
CY2020Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P4Y
CY2020Q3 nmtr Operating Lease Annual Rental Payments
OperatingLeaseAnnualRentalPayments
72000 USD
CY2020Q3 nmtr Operating Lease Monthly Rental Payments
OperatingLeaseMonthlyRentalPayments
6000 USD
CY2020Q3 nmtr Operating Lease Monthly Rental Payments
OperatingLeaseMonthlyRentalPayments
6000 USD
CY2020Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P4Y
CY2020Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P3Y
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
233206 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
233206 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12
CY2021Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
18000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
54000 USD
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
17880 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
47880 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
100000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
18000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
72000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
72000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
54000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
216000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
35355 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
180645 USD

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