$AKTX
Akari Therapeutics Plc

2024 Q4 Form 10-Q Financial Statement

#000095017024128727 Filed on November 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.709M $2.821M
YoY Change -39.42%
% of Gross Profit
Research & Development $143.0K -$314.0K
YoY Change -145.54%
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change
% of Gross Profit
Operating Expenses $1.852M $2.507M
YoY Change -26.13%
Operating Profit -$2.927M -$2.507M
YoY Change 16.75%
Interest Expense $2.000K
YoY Change
% of Operating Profit
Other Income/Expense, Net $32.00K -$364.0K
YoY Change -108.79%
Pretax Income -$2.895M
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$2.895M -$2.871M
YoY Change 0.84%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 49.52B 23.91B 10.12B
Diluted Shares Outstanding 24.39B 10.12B

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.246M
YoY Change
Cash & Equivalents $2.200M $4.731M
Short-Term Investments
Other Short-Term Assets $92.00K
YoY Change
Inventory
Prepaid Expenses $396.0K
Receivables
Other Receivables
Total Short-Term Assets $2.734M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $2.734M
Total Long-Term Assets $0.00
Total Assets $2.734M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.782M
YoY Change
Accrued Expenses $2.605M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $200.0K
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.428M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.428M
Total Long-Term Liabilities $0.00
Total Liabilities $9.428M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$243.5M
YoY Change
Common Stock $185.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$6.694M $213.0K
YoY Change
Total Liabilities & Shareholders Equity $2.734M
YoY Change

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$2.895M -$2.871M
YoY Change 0.84%
Depreciation, Depletion And Amortization $0.00
YoY Change
Cash From Operating Activities -$1.490M
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -443.0K
YoY Change
NET CHANGE
Cash From Operating Activities -1.490M
Cash From Investing Activities
Cash From Financing Activities -443.0K
Net Change In Cash -1.933M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$1.490M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3845000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13250000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2246000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4731000
aktx Financing Costs In Accrued Expenses
FinancingCostsInAccruedExpenses
72000
aktx Non Cash Seller Financed Purchases
NonCashSellerFinancedPurchases
1105000
aktx Payroll Taxes On Share Based Compensation In Accrued Expenses
PayrollTaxesOnShareBasedCompensationInAccruedExpenses
193000
us-gaap Interest Paid Net
InterestPaidNet
120000
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-243500000
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2200000
aktx Stockholders Equity Requirement
StockholdersEquityRequirement
2500000
CY2023Q4 aktx Remaining Shareholders Deficit Required To Get Listed In Nasdaq Listing
RemainingShareholdersDeficitRequiredToGetListedInNasdaqListing
200000
CY2024Q3 aktx Remaining Shareholders Deficit Required To Get Listed In Nasdaq Listing
RemainingShareholdersDeficitRequiredToGetListedInNasdaqListing
6700000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of estimates –</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> The preparation of the Company’s condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that may affect the reported amounts of assets, liabilities, expenses and related disclosures. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the valuation of share-based awards, the valuation of warrant liabilities, research and development prepayments, accruals and related expenses, and the valuation allowance for deferred income taxes. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Estimates are periodically reviewed considering changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions.</span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentration of credit risk</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">– </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash. The Company generally maintains balances in various operating accounts at financial institutions in amounts that may exceed federally insured limits. The Company has not experienced any losses related to its cash and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</span></p>
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2024Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2024Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
1100000
CY2024Q1 us-gaap Short Term Debt Percentage Bearing Fixed Interest Rate
ShortTermDebtPercentageBearingFixedInterestRate
0.0749
CY2024Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
200000
us-gaap Short Term Debt Terms
ShortTermDebtTerms
monthly installments through November 2024.
CY2024Q3 aktx Research And Development Tax Credits
ResearchAndDevelopmentTaxCredits
1300000
aktx Research And Development Tax Credits
ResearchAndDevelopmentTaxCredits
1300000
CY2023Q3 aktx Research And Development Tax Credits
ResearchAndDevelopmentTaxCredits
2600000
aktx Research And Development Tax Credits
ResearchAndDevelopmentTaxCredits
2600000
CY2024Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
1000000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2300000
CY2024Q2 aktx Restructuring And Related Cost Expected Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostExpectedNumberOfPositionsEliminatedPeriodPercent
0.67
us-gaap Restructuring Charges
RestructuringCharges
1700000
CY2024Q3 aktx Restructuring Charges Unpaid
RestructuringChargesUnpaid
500000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13579351903
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5254040600
CY2024Q3 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
725000
CY2023Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
1253000
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1253000
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-528000
CY2024Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
725000
CY2024Q3 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
624000
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
187000
CY2024Q3 aktx Accrued External Research And Development Expenses
AccruedExternalResearchAndDevelopmentExpenses
589000
CY2023Q4 aktx Accrued External Research And Development Expenses
AccruedExternalResearchAndDevelopmentExpenses
635000
CY2024Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
861000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
669000
CY2024Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
450000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
81000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
75000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2605000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1566000
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
35000000000
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
45122321523
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
45122321523
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 aktx Deferred Shares Issued
DeferredSharesIssued
3847331913
CY2020Q4 aktx Deferred Shares Issued Price Per Share
DeferredSharesIssuedPricePerShare
0.01315
CY2020Q4 aktx Aggregate Nominal Value Cancelled Per Share
AggregateNominalValueCancelledPerShare
0.01
CY2020Q4 aktx Aggregate Nominal Value Cancelled
AggregateNominalValueCancelled
50600000
CY2020Q4 aktx Capital Redemption Reserve
CapitalRedemptionReserve
50600000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.826
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.992
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.037
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.038
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y1M6D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
248000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
305000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
989000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
846000
us-gaap Operating Lease Cost
OperatingLeaseCost
200000
us-gaap Operating Lease Cost
OperatingLeaseCost
200000
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0000950170-24-128727.txt Edgar Link pending
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