2022 Q4 Form 10-Q Financial Statement

#000095017022024434 Filed on November 10, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.735M $3.245M $2.547M
YoY Change 84.77% 27.41% 12.69%
% of Gross Profit
Research & Development $8.961M $11.54M $12.89M
YoY Change -30.21% -10.51% 110.23%
% of Gross Profit
Depreciation & Amortization $66.65K $65.31K $68.35K
YoY Change 8.78% -4.45% -14.56%
% of Gross Profit
Operating Expenses $13.70M $11.54M $12.89M
YoY Change -11.08% -10.51% 110.23%
Operating Profit -$14.78M -$15.44M
YoY Change -4.25% 84.06%
Interest Expense $794.6K $416.9K $413.1K
YoY Change -326.84% 0.92% -15.55%
% of Operating Profit
Other Income/Expense, Net $231.3K -$353.8K
YoY Change -165.38% -26.9%
Pretax Income -$12.90M -$14.55M -$15.79M
YoY Change -18.11% -7.86% 78.01%
Income Tax
% Of Pretax Income
Net Earnings -$12.90M -$14.55M -$15.79M
YoY Change -18.11% -7.86% 78.01%
Net Earnings / Revenue
Basic Earnings Per Share -$0.25 -$0.27
Diluted Earnings Per Share -$0.22 -$0.25 -$272.2K
COMMON SHARES
Basic Shares Outstanding 58.56M 58.32M 57.86M
Diluted Shares Outstanding 58.46M 58.02M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $174.3M $185.3M $241.4M
YoY Change -24.15% -23.22% 180.01%
Cash & Equivalents $144.4M $128.7M $241.4M
Short-Term Investments $29.88M $56.68M $0.00
Other Short-Term Assets $3.242M $4.154M $5.403M
YoY Change 9.46% -23.13% 170.16%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $181.0M $189.5M $246.8M
YoY Change -22.23% -23.22% 179.81%
LONG-TERM ASSETS
Property, Plant & Equipment $19.28K $26.66K $39.61K
YoY Change -40.66% -32.69% -50.15%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $268.5K $208.6K $445.6K
YoY Change -30.13% -53.19% 238.49%
TOTAL ASSETS
Total Short-Term Assets $181.0M $189.5M $246.8M
Total Long-Term Assets $268.5K $208.6K $445.6K
Total Assets $181.3M $189.7M $247.2M
YoY Change -22.24% -23.27% 179.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $133.6K $1.307M $467.9K
YoY Change -86.9% 179.3% 277.67%
Accrued Expenses $14.07M $10.25M $11.25M
YoY Change 33.66% -8.87% 180.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $911.8K $12.45M $0.00
YoY Change -100.0%
Total Short-Term Liabilities $15.36M $24.20M $11.94M
YoY Change 30.48% 102.6% 83.73%
LONG-TERM LIABILITIES
Long-Term Debt $14.92M $3.303M $15.42M
YoY Change -3.74% -78.58% 21.49%
Other Long-Term Liabilities $0.00 $0.00 $184.6K
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $14.92M $3.303M $15.42M
YoY Change -3.74% -78.58% 21.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.36M $24.20M $11.94M
Total Long-Term Liabilities $14.92M $3.303M $15.42M
Total Liabilities $30.28M $27.50M $27.55M
YoY Change 10.52% -0.18% 43.48%
SHAREHOLDERS EQUITY
Retained Earnings -$356.7M -$343.8M -$278.9M
YoY Change 21.05% 23.26% 23.63%
Common Stock $507.8M $506.3M $498.6M
YoY Change 1.48% 1.54%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $151.0M $162.2M $219.7M
YoY Change
Total Liabilities & Shareholders Equity $181.3M $189.7M $247.2M
YoY Change -22.24% -23.27% 179.9%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$12.90M -$14.55M -$15.79M
YoY Change -18.11% -7.86% 78.01%
Depreciation, Depletion And Amortization $66.65K $65.31K $68.35K
YoY Change 8.78% -4.45% -14.56%
Cash From Operating Activities -$11.23M -$12.57M -$8.434M
YoY Change -2.99% 49.09% 35.16%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $27.00M $19.02M $0.00
YoY Change -100.0%
Cash From Investing Activities $27.00M $19.02M $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 1.197M 63.78K
YoY Change 1776.4% -99.76%
NET CHANGE
Cash From Operating Activities -11.23M -12.57M -8.434M
Cash From Investing Activities 27.00M 19.02M 0.000
Cash From Financing Activities 0.000 1.197M 63.78K
Net Change In Cash 15.77M 7.639M -8.370M
YoY Change -236.2% -191.26% -132.85%
FREE CASH FLOW
Cash From Operating Activities -$11.23M -$12.57M -$8.434M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$11.23M -$12.57M -$8.434M
YoY Change -2.99% 49.09% 35.16%

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us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
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NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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ProceedsFromStockOptionsExercised
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Interest Paid Net
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us-gaap Nature Of Operations
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<p style="text-indent:-4.749%;padding-left:4.533%;font-size:10.0pt;margin-top:12.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1. NATURE OF BUSINESS</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Aldeyra Therapeutics, Inc., together with its wholly-owned subsidiaries (the “Company” or “Aldeyra”), a Delaware corporation, is a clinical-stage biotechnology company developing innovative therapies designed to treat immune-mediated diseases.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company’s principal activities to date include research and development activities along with related general business planning, including raising capital.</span></p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-left:4.533%;text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;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:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><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:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions, including fair value estimates for investments that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting periods. The Company’s management evaluates its estimates and assumptions on an ongoing basis. Management’s most significant estimates in the Company’s condensed consolidated financial statements include, but are not limited to, clinical trial accruals, deferred and accrued research and development costs, stock-based compensation, and accounting for income taxes and related valuation allowance. Although these estimates and assumptions are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</span>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
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0
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CY2022Q3 aldx Accrued Research And Development Expense Current
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CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
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CY2022Q3 us-gaap Accrued Liabilities Current
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CY2021Q4 us-gaap Accrued Liabilities Current
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CY2022Q3 us-gaap Long Term Loans Payable
LongTermLoansPayable
15000000
CY2021Q4 us-gaap Long Term Loans Payable
LongTermLoansPayable
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CY2022Q3 aldx End Of Term Charge
EndOfTermCharge
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CY2022Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
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CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
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CY2022Q3 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
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CY2021Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
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CY2022Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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CY2021Q4 us-gaap Long Term Debt
LongTermDebt
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aldx Deferred Tax Assets Valuation Allowance Percentage
DeferredTaxAssetsValuationAllowancePercentage
1
CY2019 aldx Share Based Compensation Arrangement By Share Based Payment Award Granted Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantedPeriod1
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CY2020 aldx Share Based Compensation Arrangement By Share Based Payment Award Granted Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardGrantedPeriod1
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CY2022 aldx Share Based Compensation Arrangement By Share Based Payment Award Granted Period1
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us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
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CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
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5467684
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6123554
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
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CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2022Q3 us-gaap Share Price
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5.34
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2022Q3 us-gaap Operating Lease Liability
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CY2022Q3 us-gaap Operating Lease Liability Current
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184599
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
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CY2022Q3 us-gaap Operating Lease Liability
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us-gaap Operating Lease Expense
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CY2022Q3 us-gaap Operating Lease Liability
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
0
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
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