REGENERX BIOPHARMACEUTICALS INC

2023 Q2 Form 10-Q Financial Statement

#000141057823001223 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $101.6K
YoY Change -89.02%
Cash & Equivalents $101.6K
Short-Term Investments
Other Short-Term Assets $21.70K
YoY Change 63.53%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $123.3K
YoY Change -86.87%
LONG-TERM ASSETS
Property, Plant & Equipment $57.80K
YoY Change 256.57%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.752K
YoY Change 0.0%
Total Long-Term Assets $63.55K
YoY Change 189.43%
TOTAL ASSETS
Total Short-Term Assets $123.3K
Total Long-Term Assets $63.55K
Total Assets $186.8K
YoY Change -80.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $38.69K
YoY Change 22.07%
Accrued Expenses $469.3K
YoY Change 68.64%
Deferred Revenue $76.76K
YoY Change 0.0%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $1.169M
YoY Change
Total Short-Term Liabilities $1.800M
YoY Change 346.52%
LONG-TERM LIABILITIES
Long-Term Debt $262.0K
YoY Change -78.08%
Other Long-Term Liabilities $1.870M
YoY Change -3.06%
Total Long-Term Liabilities $2.132M
YoY Change -31.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.800M
Total Long-Term Liabilities $2.132M
Total Liabilities $3.931M
YoY Change 11.46%
SHAREHOLDERS EQUITY
Retained Earnings -$112.6M
YoY Change 1.53%
Common Stock $108.9M
YoY Change 0.47%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.744M
YoY Change
Total Liabilities & Shareholders Equity $186.8K
YoY Change -80.55%

Cashflow Statement

Concept 2023 Q2 2023 Q1

Facts In Submission

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REGENERX BIOPHARMACEUTICALS, INC.
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15245 Shady Grove Road – Suite 470
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;text-align:justify;margin:0pt 0pt 12pt 0pt;">Use of Estimates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the un audited interim condensed financial statements and accompanying notes. Critical accounting policies involved in applying our accounting policies are those that require management to make assumptions about matters that are highly uncertain at the time the accounting estimate was made and those for which different estimates reasonably could have been used for the current period. Critical accounting estimates are also those which are reasonably likely to change from period to period and would have a material impact on the presentation of our financial condition, changes in financial condition or results of operations. Our most critical accounting estimates relate to accounting policies for revenue recognition, discount rate used to calculate the present value of future lease payments and share-based arrangements. Management bases its estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances. Actual results could differ from those estimates.</p>
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CY2023Q1 rgrx Description Of Equity Ownership Interest
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RegeneRx’s ownership interest in ReGenTree was reduced from 49% to 38.5% when the Clinical Study Report was filed for the Phase 2/3 dry eye clinical trial. Based on when, and if, certain additional development milestones are achieved in the U.S. with RGN-259, our equity ownership may be incrementally reduced to between 38.5% and 25%, with 25% being the final equity ownership upon approval of a BLA for DES in the U.S. (Tβ4 is now regulated as a biologic rather than as a new drug entity, see page 19). In addition to our equity ownership, RegeneRx retains a royalty on net sales that varies between single and low double digits, depending on whether commercial sales are made by ReGenTree or a licensee. In the event ReGenTree is acquired or there is a change of control that occurs following achievement of a BLA, RegeneRx shall be entitled to a minimum of 40% of all proceeds paid or payable and will forgo any future royalties.
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CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
201000000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
301000000
CY2022Q3 rgrx Lease Expiration Term
LeaseExpirationTerm
July 2024
CY2023Q1 rgrx Lease Rent Per Month
LeaseRentPerMonth
4500
CY2023Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.20
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
57801
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
16206
CY2023Q1 rgrx Lease Assets
LeaseAssets
57801
CY2022Q1 rgrx Lease Assets
LeaseAssets
16206
CY2023Q1 rgrx Operating Lease Liability Current Portion
OperatingLeaseLiabilityCurrentPortion
45999
CY2022Q1 rgrx Operating Lease Liability Current Portion
OperatingLeaseLiabilityCurrentPortion
16284
CY2023Q1 rgrx Operating Lease Liability Noncurrent Portion
OperatingLeaseLiabilityNoncurrentPortion
17671
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
63670
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
16284
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
12609
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
12668
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1097
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1347
CY2023Q1 us-gaap Lease Cost
LeaseCost
13706
CY2022Q1 us-gaap Lease Cost
LeaseCost
14015
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
40894
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
32223
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
73117
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9447
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
63670

Files In Submission

Name View Source Status
rgrx-20230331_cal.xml Edgar Link unprocessable
0001410578-23-001223-index-headers.html Edgar Link pending
0001410578-23-001223-index.html Edgar Link pending
0001410578-23-001223.txt Edgar Link pending
0001410578-23-001223-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
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report.css Edgar Link pending
rgrx-20230331.xsd Edgar Link pending
rgrx-20230331x10q.htm Edgar Link pending
rgrx-20230331xex31d1.htm Edgar Link pending
rgrx-20230331xex32d1.htm Edgar Link pending
Show.js Edgar Link pending
rgrx-20230331_def.xml Edgar Link unprocessable
rgrx-20230331_lab.xml Edgar Link unprocessable
rgrx-20230331_pre.xml Edgar Link unprocessable
rgrx-20230331x10q_htm.xml Edgar Link completed