$ALT
Altimmune Inc

2023 Q2 Form 10-Q Financial Statement

#000132619023000028 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $6.000K $21.00K $32.00K
YoY Change -25.0% -34.38% -96.18%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.760M $4.531M $4.427M
YoY Change 7.94% 2.35% 15.89%
% of Gross Profit
Research & Development $13.25M $17.25M $15.10M
YoY Change -17.13% 14.2% 27.16%
% of Gross Profit
Depreciation & Amortization -$356.0K $119.0K
YoY Change -399.16% 60.81%
% of Gross Profit
Operating Expenses $18.01M $21.78M $19.53M
YoY Change -11.71% 11.52% 24.41%
Operating Profit -$18.01M -$21.76M -$19.50M
YoY Change -11.71% 11.59% 31.21%
Interest Expense $2.000K $2.000K $62.00K
YoY Change -96.92% -96.77% 416.67%
% of Operating Profit
Other Income/Expense, Net $1.946M $1.685M $69.00K
YoY Change 575.69% 2342.03% -2400.0%
Pretax Income -$16.06M -$20.07M -$19.43M
YoY Change -20.12% 3.31% 30.75%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$16.06M -$20.07M -$19.43M
YoY Change -20.12% 3.31% 30.72%
Net Earnings / Revenue -267683.33% -95590.48% -60718.75%
Basic Earnings Per Share -$0.32 -$0.40 -$0.44
Diluted Earnings Per Share -$0.32 -$0.39 -$0.44
COMMON SHARES
Basic Shares Outstanding 49.29M 49.28M 43.97M
Diluted Shares Outstanding 50.69M 50.13M 43.97M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $160.0M $165.7M $179.9M
YoY Change -13.42% -7.9% -20.55%
Cash & Equivalents $102.4M $104.7M $179.9M
Short-Term Investments $57.60M $61.04M
Other Short-Term Assets $5.863M $4.012M $5.073M
YoY Change 26.0% -20.91% -15.45%
Inventory
Prepaid Expenses
Receivables $136.0K $252.0K $193.0K
Other Receivables $3.579M $3.118M $5.880M
Total Short-Term Assets $169.5M $173.1M $191.1M
YoY Change -13.28% -9.41% -22.07%
LONG-TERM ASSETS
Property, Plant & Equipment $882.0K $1.007M $1.337M
YoY Change -28.64% -24.68% -78.08%
Goodwill
YoY Change
Intangibles $12.42M
YoY Change
Long-Term Investments
YoY Change
Other Assets $483.0K $546.0K $811.0K
YoY Change -35.34% -32.68% 711.0%
Total Long-Term Assets $13.78M $13.97M $14.57M
YoY Change -4.29% -4.08% -23.73%
TOTAL ASSETS
Total Short-Term Assets $169.5M $173.1M $191.1M
Total Long-Term Assets $13.78M $13.97M $14.57M
Total Assets $183.3M $187.1M $205.7M
YoY Change -12.67% -9.03% -22.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.035M $5.238M $2.205M
YoY Change 40.49% 137.55% 451.25%
Accrued Expenses $7.346M $9.713M $12.61M
YoY Change -33.05% -22.97% 34.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $11.44M $14.95M $19.12M
YoY Change -17.39% -21.82% 95.14%
LONG-TERM LIABILITIES
Long-Term Debt $4.165M $4.400M $1.668M
YoY Change 172.94% 163.79% -2.99%
Other Long-Term Liabilities $52.00K $56.00K $402.0K
YoY Change -86.02% -86.07% 321.46%
Total Long-Term Liabilities $4.217M $4.456M $2.070M
YoY Change 122.18% 115.27% 14.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.44M $14.95M $19.12M
Total Long-Term Liabilities $4.217M $4.456M $2.070M
Total Liabilities $15.60M $19.35M $20.79M
YoY Change 1.5% -6.93% 16.81%
SHAREHOLDERS EQUITY
Retained Earnings -$414.0M -$398.0M -$312.6M
YoY Change 24.44% 27.31%
Common Stock $5.000K $5.000K $4.000K
YoY Change 0.0% 25.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $167.7M $167.7M $184.9M
YoY Change
Total Liabilities & Shareholders Equity $183.3M $187.1M $205.7M
YoY Change -12.67% -9.03% -22.19%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$16.06M -$20.07M -$19.43M
YoY Change -20.12% 3.31% 30.72%
Depreciation, Depletion And Amortization -$356.0K $119.0K
YoY Change -399.16% 60.81%
Cash From Operating Activities -$19.38M -$19.41M -$13.53M
YoY Change 16.04% 43.48% -30.88%
INVESTING ACTIVITIES
Capital Expenditures -$4.000K $51.00K $9.000K
YoY Change -78.95% 466.67% -99.79%
Acquisitions
YoY Change
Other Investing Activities $3.983M $13.35M $0.00
YoY Change -108.14% -100.0%
Cash From Investing Activities $3.987M $13.30M -$9.000K
YoY Change -108.14% -147900.0% -100.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.990M
YoY Change -91.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 13.07M -302.0K 3.181M
YoY Change -39.47% -109.49% -90.76%
NET CHANGE
Cash From Operating Activities -19.38M -19.41M -13.53M
Cash From Investing Activities 3.987M 13.30M -9.000K
Cash From Financing Activities 13.07M -302.0K 3.181M
Net Change In Cash -2.331M -6.407M -10.35M
YoY Change -94.71% -38.12% -130.44%
FREE CASH FLOW
Cash From Operating Activities -$19.38M -$19.41M -$13.53M
Capital Expenditures -$4.000K $51.00K $9.000K
Free Cash Flow -$19.38M -$19.46M -$13.54M
YoY Change 16.15% 43.76% -43.08%

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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
190335000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
104724000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
179981000
CY2023Q1 alt Deferred Offering Costs In Accrued Expenses And Other Current Liabilities
DeferredOfferingCostsInAccruedExpensesAndOtherCurrentLiabilities
182000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The preparation of these financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include, but are not </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">limited to, the valuation of share-based awards, income taxes, and accruals for research and development activities. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable. However, actual results could differ from those estimates and there may be changes to the Company’s estimates in future periods.</p>
CY2023Q1 us-gaap Short Term Investments
ShortTermInvestments
61039000
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
73783000
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
61100000
CY2023Q1 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-61000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
61039000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
73970000
CY2022Q4 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
-187000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
73783000
CY2023Q1 alt Assets Or Liabilities Measured At Fair Value On Non Recurring Basis
AssetsOrLiabilitiesMeasuredAtFairValueOnNonRecurringBasis
0
CY2022Q4 alt Assets Or Liabilities Measured At Fair Value On Non Recurring Basis
AssetsOrLiabilitiesMeasuredAtFairValueOnNonRecurringBasis
0
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1015000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1124000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
541000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
596000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.072
CY2023Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
299000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
276000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1000000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2955000
CY2023Q1 alt Accrued Research And Development
AccruedResearchAndDevelopment
6715000
CY2022Q4 alt Accrued Research And Development
AccruedResearchAndDevelopment
7295000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
463000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
452000
CY2023Q1 alt Excess Tax Refund Payable
ExcessTaxRefundPayable
1169000
CY2022Q4 alt Excess Tax Refund Payable
ExcessTaxRefundPayable
1169000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
103000
CY2023Q1 alt Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
9713000
CY2022Q4 alt Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
12250000
CY2022Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-1800000
CY2023Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
0
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
0
CY2023Q1 alt Research And Development Incentive Credit
ResearchAndDevelopmentIncentiveCredit
3542000
CY2022Q4 alt Research And Development Incentive Credit
ResearchAndDevelopmentIncentiveCredit
3599000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
552000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
672000
CY2023Q1 alt Economic Conditional Incentive Grants
EconomicConditionalIncentiveGrants
250000
CY2022Q4 alt Economic Conditional Incentive Grants
EconomicConditionalIncentiveGrants
250000
CY2023Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
56000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
60000
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4400000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4581000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
49286710
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1015166
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.66
CY2023Q1 alt Class Of Warrant Or Right Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightWeightedAverageRemainingContractualTerm
P0Y8M12D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4479330
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.06
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
29683
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1836727
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.66
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M18D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
15131
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2642603
CY2023Q1 alt Share Based Compensation Arrangement By Share Based Payment Award Options Unvested Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsUnvestedOutstandingWeightedAverageExercisePrice
11.03
CY2023Q1 alt Share Based Compensation Arrangement By Share Based Payment Award Options Unvested Outstanding Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsUnvestedOutstandingWeightedAverageRemainingContractualTerm
P6Y
CY2023Q1 alt Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedOutstandingIntrinsicValue
14552
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2675
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2033

Files In Submission

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alt-20230331_lab.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
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0001326190-23-000028-index.html Edgar Link pending
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0001326190-23-000028-xbrl.zip Edgar Link pending
alt-20230331.xsd Edgar Link pending
alt-20230331x10q.htm Edgar Link pending
alt-20230331x10q002.jpg Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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alt-20230331_def.xml Edgar Link unprocessable
alt-20230331_cal.xml Edgar Link unprocessable
alt-20230331_pre.xml Edgar Link unprocessable
alt-20230331x10q_htm.xml Edgar Link completed
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