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Zosano Pharma Corp

zosanopharma.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2022 10-Q, filed May 13, 2022. Its latest SEC filing is a 25-NSE from Jul 19, 2022.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Develops transdermal microneedle drug-delivery products, including a zolmitriptan patch for migraine patients and delivery programs for pharmaceutical partners.

How Did They Make Money?

Pharmaceutical customers pay for feasibility research and development studies to test delivery of their drugs; revenue from the work is tied to progress, while exclusivity is spread over its term.

FY2021 revenue

Who Were Their Customers?

Pharmaceutical companies hire Zosano under signed contracts for feasibility studies testing whether its system can deliver their drugs.

Did Revenues Turn Into Profits?

No. It lost $29.9M in FY2021.

Operating income, FY2021
−4017% of revenue
▼ −4% (Loss) vs FY2020 (−$32.8M, −14624%)
Net income, FY2021
−3812% of revenue
▼ −10% (Loss) vs FY2020 (−$33.4M, −14897%)
Free cash flow, FY2021
−4205% of revenue
▼ −18% (Loss) vs FY2020 (−$40.2M, −17949%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q1 FY2022, the three months to Mar 31, 2022
Revenue
▼ −49%
vs $258K in Q1 FY2021
Net income
▲ +310% (Loss)
vs −$8.1M in Q1 FY2021
  • Jun 3, 2022 Nasdaq said it would delist Zosano’s securities Trading suspension was scheduled to begin at the opening of business on June 13, 2022.
  • Jun 2, 2022 Filed for Chapter 11 and intends to sell substantially all assets The company continued operating under court supervision while seeking approval for an orderly wind-down.

U.S. commercialization partner The earlier report said Zosano intended to handle U.S. commercialization itself while considering collaborators; the latest report says it plans to rely on Eversana and other third parties.

Who Did They Compete With?

Competes with Teva Pharmaceutical Industries, GlaxoSmithKline, Eli Lilly &, AstraZeneca, Novartis, Allergan, Biohaven Pharmaceuticals, Lundbeck, Amgen, Merck &, Pfizer, Janssen Pharmaceutica, Endo International, Assertio, Upsher-Smith Laboratories, Satsuma Pharmaceuticals, Supernus Pharmaceutical, Currax Pharmaceuticals, Impel NeuroPharma, and Axsome Therapeutics

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