$APLT
Applied Therapeutics, Inc.

2024 Q2 Form 10-Q Financial Statement

#000155837024007465 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $144.0K $190.0K
YoY Change -98.22%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.58M $9.066M
YoY Change 99.89% 62.39%
% of Gross Profit
Research & Development $10.00M $12.22M
YoY Change -15.81% -23.33%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $20.58M $21.28M
YoY Change 19.84% -1.09%
Operating Profit -$20.44M -$21.09M
YoY Change 19.0% 94.26%
Interest Expense $628.0K $586.0K
YoY Change 53.92% 165.16%
% of Operating Profit
Other Income/Expense, Net $23.34M -$62.85M
YoY Change -288.19% -8816.37%
Pretax Income $2.898M -$83.94M
YoY Change -109.8% 728.04%
Income Tax
% Of Pretax Income
Net Earnings $2.898M -$83.94M
YoY Change -109.8% 728.04%
Net Earnings / Revenue 2012.5% -44177.89%
Basic Earnings Per Share $0.02 -$0.67
Diluted Earnings Per Share -$0.13 -$0.67
COMMON SHARES
Basic Shares Outstanding 114.3M 105.9M
Diluted Shares Outstanding 152.4M 125.3M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $122.5M $146.7M
YoY Change 243.81% 540.3%
Cash & Equivalents $122.2M $146.5M
Short-Term Investments $253.0K $253.0K
Other Short-Term Assets $598.0K $355.0K
YoY Change 11.57% -35.92%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $127.6M $150.9M
YoY Change 197.92% 419.24%
LONG-TERM ASSETS
Property, Plant & Equipment $206.0K $328.0K
YoY Change -67.2% -55.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $206.0K $328.0K
YoY Change -75.03% -65.14%
TOTAL ASSETS
Total Short-Term Assets $127.6M $150.9M
Total Long-Term Assets $206.0K $328.0K
Total Assets $127.8M $151.2M
YoY Change 192.76% 404.05%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.683M $4.019M
YoY Change -42.76% -27.65%
Accrued Expenses $9.246M $13.08M
YoY Change -43.99% -9.85%
Deferred Revenue $333.0K $477.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $55.36M $83.91M
YoY Change 17.31% 152.34%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $30.00K $35.00K
YoY Change -96.21% -95.76%
Total Long-Term Liabilities $30.00K $35.00K
YoY Change -96.21% -95.76%
TOTAL LIABILITIES
Total Short-Term Liabilities $55.36M $83.91M
Total Long-Term Liabilities $30.00K $35.00K
Total Liabilities $55.39M $83.94M
YoY Change 15.44% 146.33%
SHAREHOLDERS EQUITY
Retained Earnings -$549.6M -$552.5M
YoY Change 41.47% 53.9%
Common Stock $11.00K $11.00K
YoY Change 83.33% 120.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $72.39M $67.29M
YoY Change
Total Liabilities & Shareholders Equity $127.8M $151.2M
YoY Change 192.76% 404.05%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $2.898M -$83.94M
YoY Change -109.8% 728.04%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$22.60M -$18.91M
YoY Change 37.34% 170.54%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $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 -1.692M 115.5M
YoY Change -105.8% -18668.65%
NET CHANGE
Cash From Operating Activities -22.60M -18.91M
Cash From Investing Activities 0.000
Cash From Financing Activities -1.692M 115.5M
Net Change In Cash -24.29M 96.59M
YoY Change -291.25% 1442.91%
FREE CASH FLOW
Cash From Operating Activities -$22.60M -$18.91M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Risks and Uncertainties</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is subject to risks common to companies in the biotechnology industry, including but not limited to, risks of failure of preclinical studies and clinical trials, the need to obtain marketing approval for any product candidate that it may identify and develop, the need to successfully commercialize and gain market acceptance of its product candidates, dependence on key personnel, protection of proprietary technology, compliance with government regulations, development by competitors of technological innovations and reliance on third-party manufacturers.</p>
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UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">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 and liabilities, disclosure of contingent assets and liabilities and the Company's ability to continue as a going concern as of the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. In preparing the financial statements, management used estimates in the following areas, among others: prepaid and accrued expenses; warrant liabilities valuation; license revenue; research and development services revenue; stock-based compensation expense; the likelihood of realization of deferred tax assets; and the evaluation of the existence of conditions and events that raise substantial doubt regarding the Company’s ability to continue as a going concern.<span style="background:#ffffff;"> </span>Actual results could differ from those estimates.</p>
CY2024Q1 aplt Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
3338000
CY2023Q4 aplt Prepaid Research And Development Expenses
PrepaidResearchAndDevelopmentExpenses
2880000
CY2024Q1 aplt Insurance Premium Asset Current
InsurancePremiumAssetCurrent
182000
CY2023Q4 aplt Insurance Premium Asset Current
InsurancePremiumAssetCurrent
566000
CY2024Q1 aplt Prepaid Commercial And Patient Advocacy
PrepaidCommercialAndPatientAdvocacy
32000
CY2023Q4 aplt Prepaid Commercial And Patient Advocacy
PrepaidCommercialAndPatientAdvocacy
284000
CY2024Q1 aplt Research And Development Tax Credit Receivable
ResearchAndDevelopmentTaxCreditReceivable
262000
CY2023Q4 aplt Research And Development Tax Credit Receivable
ResearchAndDevelopmentTaxCreditReceivable
262000
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
355000
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
242000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4169000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4234000
CY2024Q1 aplt Accrued Pre Clinical And Clinical Expenses Current
AccruedPreClinicalAndClinicalExpensesCurrent
8991000
CY2023Q4 aplt Accrued Pre Clinical And Clinical Expenses Current
AccruedPreClinicalAndClinicalExpensesCurrent
10142000
CY2023Q4 us-gaap Accrued Insurance Current
AccruedInsuranceCurrent
310000
CY2024Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
477000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
667000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1240000
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1307000
CY2024Q1 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
565000
CY2023Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2066000
CY2024Q1 aplt Accrued Commercial Expenses Current
AccruedCommercialExpensesCurrent
1370000
CY2023Q4 aplt Accrued Commercial Expenses Current
AccruedCommercialExpensesCurrent
19000
CY2024Q1 aplt Accrued Patent Expenses Current
AccruedPatentExpensesCurrent
605000
CY2023Q4 aplt Accrued Patent Expenses Current
AccruedPatentExpensesCurrent
396000
CY2024Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1393000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
379000
CY2024Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
14641000
CY2023Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
15286000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2379000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2055000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1900000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
6400000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4695619
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.01
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y10M24D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
7875000
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
32290
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.05
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4663329
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.01
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y1M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
22318000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4371160
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.08
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y1M6D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
20638000
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
292169
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
1.05
CY2024Q1 aplt Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedWeightedAverageRemainingContractualTerm
P7Y6M
CY2024Q1 aplt Share Based Compensation Arrangement By Share Based Payment Award Options Nonvested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonvestedIntrinsicValue
1680000
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
200000
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2024Q1 aplt Share Based Compensation Arrangement By Share Based Payment Award Options Vested Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedGrantDateFairValue
36000
CY2023Q1 aplt Share Based Compensation Arrangement By Share Based Payment Award Options Vested Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedGrantDateFairValue
100000
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
127000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
126000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y10M24D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y7M6D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0716
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0569
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
315000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23000
CY2024Q1 aplt Lessee Operating Lease Liability To Be Paid After Year Two
LesseeOperatingLeaseLiabilityToBePaidAfterYearTwo
20000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
358000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
343000
CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000
CY2024Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
200000
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-83938000
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-83938000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10137000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-10137000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125318993
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125318993
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56357983
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56357983
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.67
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.67
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.18
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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