Renovacor, Inc.

2022 Q1 Form 10-Q Financial Statement

#000095017022009663 Filed on May 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $70.08M $595.8K
YoY Change 11662.61%
Cash & Equivalents $70.10M $3.525M
Short-Term Investments
Other Short-Term Assets $1.623M $6.670K
YoY Change 24232.83%
Inventory
Prepaid Expenses $1.623M
Receivables
Other Receivables
Total Short-Term Assets $71.71M $602.5K
YoY Change 11801.77%
LONG-TERM ASSETS
Property, Plant & Equipment $362.0K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $86.25M
YoY Change
Other Assets $42.00K
YoY Change
Total Long-Term Assets $404.0K $86.25M
YoY Change -99.53%
TOTAL ASSETS
Total Short-Term Assets $71.71M $602.5K
Total Long-Term Assets $404.0K $86.25M
Total Assets $72.11M $86.85M
YoY Change -16.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.781M $1.130M
YoY Change 57.65%
Accrued Expenses $1.616M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $500.0K
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.397M $5.970M
YoY Change -43.1%
LONG-TERM LIABILITIES
Long-Term Debt $7.975M $0.00
YoY Change
Other Long-Term Liabilities $7.975M
YoY Change
Total Long-Term Liabilities $7.975M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.397M $5.970M
Total Long-Term Liabilities $7.975M $0.00
Total Liabilities $11.37M $5.970M
YoY Change 90.49%
SHAREHOLDERS EQUITY
Retained Earnings -$12.40M
YoY Change
Common Stock $73.14M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $60.74M $3.624M
YoY Change
Total Liabilities & Shareholders Equity $72.11M $86.85M
YoY Change -16.97%

Cashflow Statement

Concept 2022 Q1 2021 Q1

Facts In Submission

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;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;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;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;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;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;min-width:fit-content;">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:1.15;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;min-width:fit-content;">Concentration of Credit Risk</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;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;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;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;min-width:fit-content;">Financial instruments that subject the Company to significant concentrations of credit risk consist primarily of cash primarily held at one financial institution, which, at times, may exceed federally insured limits, and cash equivalents consisting of investments in money market funds managed by a variety of financial institutions. The Company's credit risk is managed by investing in only highly rated money market instruments. As a result, no significant additional credit risk is believed by management to be inherent in the Company’s assets and the Company has not experienced any losses in such accounts and believes it is not exposed to any significant risk on such accounts</span><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;min-width:fit-content;">.</span></p>
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CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-1681000
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
183000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
6411000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1681000
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1681000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17471266
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6274566
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.27
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
6594000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-1681000
CY2022Q1 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Diluted
UndistributedEarningsLossAllocatedToParticipatingSecuritiesDiluted
183000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
6411000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17471266
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6274566
CY2022Q1 rcor Incremental Common Shares Attributable To Underlying In The Money Options Outstanding
IncrementalCommonSharesAttributableToUnderlyingInTheMoneyOptionsOutstanding
78306
CY2022Q1 rcor Incremental Common Shares Attributable To Underlying Time Based Restricted Stock Units
IncrementalCommonSharesAttributableToUnderlyingTimeBasedRestrictedStockUnits
79263
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17628835
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6274566
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.36
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.27
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16244109
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
73127

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