$ATOS
ATOSSA THERAPEUTICS, INC.

2022 Q1 Form 10-Q Financial Statement

#000143774922011508 Filed on May 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.249M $2.150M
YoY Change 51.12% 7.5%
% of Gross Profit
Research & Development $1.499M $1.379M
YoY Change 8.7% 46.92%
% of Gross Profit
Depreciation & Amortization $2.000K $9.000K
YoY Change -77.78% -26.98%
% of Gross Profit
Operating Expenses $4.747M $3.531M
YoY Change 34.44% 20.22%
Operating Profit -$4.747M -$3.531M
YoY Change 34.44% 20.22%
Interest Expense -$29.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net -$39.00K -$7.000K
YoY Change 457.14% -32.76%
Pretax Income -$4.786M -$3.538M
YoY Change 35.27% 20.04%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.785M -$3.538M
YoY Change 35.25% 20.04%
Net Earnings / Revenue
Basic Earnings Per Share -$0.04 -$0.04
Diluted Earnings Per Share -$37.79K -$38.23K
COMMON SHARES
Basic Shares Outstanding 126.6M 92.59M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $131.5M $137.6M
YoY Change -4.44% 1363.83%
Cash & Equivalents $131.5M $137.6M
Short-Term Investments
Other Short-Term Assets $710.0K $77.24K
YoY Change 819.22% -42.58%
Inventory
Prepaid Expenses $3.874M $2.550M
Receivables
Other Receivables
Total Short-Term Assets $136.8M $141.0M
YoY Change -2.97% 1108.79%
LONG-TERM ASSETS
Property, Plant & Equipment $15.84K
YoY Change -46.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $630.0K $16.47K
YoY Change 3725.6% -4.36%
Total Long-Term Assets $630.0K $49.23K
YoY Change 1179.63% -66.09%
TOTAL ASSETS
Total Short-Term Assets $136.8M $141.0M
Total Long-Term Assets $630.0K $49.23K
Total Assets $137.5M $141.1M
YoY Change -2.55% 1094.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.596M $722.3K
YoY Change 120.97% 102.74%
Accrued Expenses $120.0K $151.2K
YoY Change -20.61% 188.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.322M $1.379M
YoY Change 68.36% 51.9%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.322M $1.379M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $2.322M $1.400M
YoY Change 65.86% 52.84%
SHAREHOLDERS EQUITY
Retained Earnings -$134.0M -$108.6M
YoY Change 23.38% 11.97%
Common Stock $268.6M $251.2M
YoY Change 6.9% 134.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $135.2M $139.7M
YoY Change
Total Liabilities & Shareholders Equity $137.5M $141.1M
YoY Change -2.55% 1094.35%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$4.785M -$3.538M
YoY Change 35.25% 20.04%
Depreciation, Depletion And Amortization $2.000K $9.000K
YoY Change -77.78% -26.98%
Cash From Operating Activities -$4.878M -$4.408M
YoY Change 10.66% 36.47%
INVESTING ACTIVITIES
Capital Expenditures $13.00K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$13.00K $0.00
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 $0.00 $102.4M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -$4.878M -$4.408M
Cash From Investing Activities -$13.00K $0.00
Cash From Financing Activities $0.00 $102.4M
Net Change In Cash -$4.891M $98.02M
YoY Change -104.99% -3134.68%
FREE CASH FLOW
Cash From Operating Activities -$4.878M -$4.408M
Capital Expenditures $13.00K $0.00
Free Cash Flow -$4.891M -$4.408M
YoY Change 10.96%

Facts In Submission

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt 0pt 0pt 15pt;"><b>NOTE <em style="font: inherit;">1:</em> NATURE OF OPERATIONS</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 13pt;text-indent:54pt;"> Atossa Therapeutics, Inc. (the Company) was incorporated on <em style="font: inherit;"> April 30, 2009 </em>in the State of Delaware to develop and market medical devices, laboratory tests and therapeutics to address breast health conditions. The Company is currently focused on development of its pharmaceuticals for the treatment of the novel coronavirus (COVID-<em style="font: inherit;">19</em>), breast cancer and other breast conditions. The Company’s fiscal year ends on <em style="font: inherit;"> December 31.</em></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 15pt;text-indent:54pt;"><i>Impact of the Novel Coronavirus </i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 16pt;text-indent:54pt;">The ongoing COVID-<em style="font: inherit;">19</em> pandemic <em style="font: inherit;"> may </em>affect the Company's operations and those of <em style="font: inherit;">third</em> parties on which the Company relies, including causing possible disruptions in the supply of the Company's Endoxifen, AT-<em style="font: inherit;">H201,AT</em>-<em style="font: inherit;">301</em> and the pace of enrollment in our clinical trials.  In addition, the COVID-<em style="font: inherit;">19</em> pandemic <em style="font: inherit;"> may </em>affect the operations of the U.S. FDA and other health authorities including similar entities/agencies in Sweden and Australia, which could result in delays in meetings, reviews and approvals. Additionally, while the potential economic impact brought by, and the duration of, the COVID-<em style="font: inherit;">19</em> pandemic is difficult to assess or predict, the impact of the COVID-<em style="font: inherit;">19</em> pandemic on the global financial markets <em style="font: inherit;"> may </em>reduce the Company’s ability to access capital, which could negatively impact the Company’s short-term and long-term liquidity. The ultimate impact of the COVID-<em style="font: inherit;">19</em> pandemic is highly uncertain and subject to change. We do <em style="font: inherit;">not</em> yet know the full extent of potential delays or impacts on our business, financing or clinical trial activities or on healthcare systems or the global economy as a whole, however, we have <em style="font: inherit;">not</em> experienced a significant delay in the enrollment or the drug supply for our ongoing and planned clinical studies, including studies of Endoxifen, AT-<em style="font: inherit;">301</em> and AT-<em style="font: inherit;">H201.</em> Although there have been times when the number of reported COVID-<em style="font: inherit;">19</em> cases has surged, there have also been times when the number of reported cases of COVID-<em style="font: inherit;">19</em> has declined in many countries. If the number of COVID-<em style="font: inherit;">19</em> cases decline, it <em style="font: inherit;"> may </em>be difficult to enroll participants in our COVID-<em style="font: inherit;">19</em> clinical studies.</p>
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CY2021 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
113486000 USD
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 15pt;text-indent:54pt;"><i><b>Use of Estimates</b></i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 15pt;text-indent:54pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 15pt;text-indent:54pt;"> </p>
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
110000 USD
CY2022Q1 us-gaap Prepaid Insurance
PrepaidInsurance
613000 USD
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
461000 USD
CY2022Q1 atos Professional Services Current
ProfessionalServicesCurrent
293000 USD
CY2021Q4 atos Professional Services Current
ProfessionalServicesCurrent
124000 USD
CY2022Q1 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
41000 USD
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
50000 USD
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3874000 USD
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2488000 USD
CY2022Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
241000 USD
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
894000 USD
CY2022Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
229000 USD
CY2021Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
183000 USD
CY2022Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
123000 USD
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
107000 USD
CY2022Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
593000 USD
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1184000 USD
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
22277000
CY2022Q1 atos Number Of Shares Authorized To Issue
NumberOfSharesAuthorizedToIssue
185000000
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
175000000
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.18
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 atos Consummate A Business Combination Percentage Of Acquired Outstanding Shares
ConsummateABusinessCombinationPercentageOfAcquiredOutstandingShares
0.50 pure
CY2022Q1 atos Consummate A Business Combination Percentage Of Aggregate Ordinary Voting Power
ConsummateABusinessCombinationPercentageOfAggregateOrdinaryVotingPower
0.50 pure
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
22277000
CY2022Q1 atos Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
0
CY2021Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
32760000 USD
CY2021Q1 atos Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
32063000
CY2021Q1 atos Stock Issued During Period Shares Warrant Exercised
StockIssuedDuringPeriodSharesWarrantExercised
32063000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4786000 USD
CY2021Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3538000 USD
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126624000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
92587000
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.04
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33531000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
32322000
CY2022Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
131279000 USD
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
136185000 USD
CY2022Q1 atos Lessee Operating Lease Monthly Rent Payments
LesseeOperatingLeaseMonthlyRentPayments
1000 USD
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
8000 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
5000 USD
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1806000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
640000 USD
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10027000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.82
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1006000 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2722000
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.25
CY2022Q1 atos Sharebased Compensation Arrangement By Sharebased Payment Award Options Grants In Period Intrinsic Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantsInPeriodIntrinsicValue
USD
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
USD
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12749000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.48
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y5M1D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
7279000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.82
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y8M1D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
USD
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
12749000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.48
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y5M1D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 USD
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
5470000
CY2022Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.06 pure
CY2022Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
34000 USD
CY2021Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
33000 USD

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