Renovacor, Inc.

2021 Q4 Form 10-Q Financial Statement

#000095017021004587 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 $78.79M $85.32M $767.6K
YoY Change 11363.53% 11015.29%
Cash & Equivalents $78.79M $85.30M $653.0K
Short-Term Investments
Other Short-Term Assets $1.763M $2.635M $92.91K
YoY Change 5733.88% 2736.08%
Inventory
Prepaid Expenses $1.763M
Receivables
Other Receivables
Total Short-Term Assets $80.55M $87.96M $860.5K
YoY Change 1367.0% 10121.38%
LONG-TERM ASSETS
Property, Plant & Equipment $379.0K $20.00K
YoY Change 37800.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $86.25M
YoY Change
Other Assets $67.00K
YoY Change
Total Long-Term Assets $446.0K $20.00K $86.25M
YoY Change 44500.0% -99.98%
TOTAL ASSETS
Total Short-Term Assets $80.55M $87.96M $860.5K
Total Long-Term Assets $446.0K $20.00K $86.25M
Total Assets $81.00M $87.98M $87.11M
YoY Change 1374.85% 1.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.536M $1.502M
YoY Change 1021.17%
Accrued Expenses $2.498M $2.184M $292.5K
YoY Change 4282.46% 646.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $500.0K
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.034M $3.686M $792.5K
YoY Change 1979.38% 365.1%
LONG-TERM LIABILITIES
Long-Term Debt $23.42M $30.88M $0.00
YoY Change
Other Long-Term Liabilities $23.42M $30.88M
YoY Change
Total Long-Term Liabilities $23.42M $30.88M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.034M $3.686M $792.5K
Total Long-Term Liabilities $23.42M $30.88M $0.00
Total Liabilities $27.46M $34.56M $792.5K
YoY Change 14052.06% 4261.15%
SHAREHOLDERS EQUITY
Retained Earnings -$19.00M -$18.50M
YoY Change 287.95%
Common Stock $72.54M $71.88M $265.00
YoY Change 611.54% 27124050.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $53.54M $53.41M $289.0K
YoY Change
Total Liabilities & Shareholders Equity $81.00M $87.98M $87.11M
YoY Change 1374.85% 1.0%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3

Facts In Submission

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:3.333%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expense, and related disclosures. The Company bases estimates and assumptions on historical experience when available and on various factors that it believes to be reasonable under the circumstances. The Company evaluates its estimates and assumptions on an ongoing basis. Estimates relied upon in preparing these financial statements relate to, but are not limited to, the fair value of financial instruments, stock-based compensation assumptions and accrued expenses (including accrued and prepaid clinical costs). Actual results may differ from these estimates under different assumptions or conditions.</span></p>
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;">Concentration of Credit Risk</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;"> </span></p><p style="text-indent:3.333%;font-size:10.0pt;margin-top:0.0pt;line-height:1.3;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;">Financial instruments that subject the Company to significant concentrations of credit risk consist primarily of cash accounts in a financial institution, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk on such accounts.</span></p>
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CY2021Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1987636
CY2021Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1987636
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
us-gaap Preferred Stock Voting Rights
PreferredStockVotingRights
no
CY2021Q3 rcor Warrants Outstanding
WarrantsOutstanding
12837868
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
518000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1000
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
12876576
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Maximum Number Of Shares Per Employee
ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumNumberOfSharesPerEmployee
88991
rcor Shares Expected To Vest Date
SharesExpectedToVestDate
2021-12
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
100000
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4900000
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15732137
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
73127
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15732137
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
73127

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