$ATXI
AVENUE THERAPEUTICS, INC.

2021 Q4 Form 10-K Financial Statement

#000141057822000516 Filed on March 25, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $524.0K $2.484M $520.0K
YoY Change 0.77% 5.7% -16.13%
% of Gross Profit
Research & Development $390.0K $1.254M $480.0K
YoY Change -18.75% -56.25% -90.12%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $914.0K $1.254M $1.000M
YoY Change -8.6% -56.25% -81.72%
Operating Profit -$3.738M
YoY Change -28.29%
Interest Expense $1.000K $7.000K $10.00K
YoY Change -90.0% -88.33% -83.33%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$913.0K -$3.731M -$990.0K
YoY Change -7.78% -27.55% -81.73%
Income Tax
% Of Pretax Income
Net Earnings -$913.0K -$3.731M -$990.0K
YoY Change -7.78% -27.57% -81.73%
Net Earnings / Revenue
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share -$50.03K -$0.22 -$59.78K
COMMON SHARES
Basic Shares Outstanding 18.70M 17.00M
Diluted Shares Outstanding 17.00M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.763M $3.763M $3.130M
YoY Change 20.22% 20.22% -64.23%
Cash & Equivalents $3.763M $3.763M $3.132M
Short-Term Investments
Other Short-Term Assets $107.0K $107.0K $110.0K
YoY Change -2.73% -2.73% -35.29%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.960M $3.960M $3.245M
YoY Change 22.03% 21.85% -63.62%
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 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $3.960M $3.960M $3.245M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $3.960M $3.960M $3.245M
YoY Change 22.03% 21.85% -63.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $304.0K $304.0K $143.0K
YoY Change 112.59% 117.14% -59.14%
Accrued Expenses $205.0K $205.0K $740.0K
YoY Change -72.3% -72.3% -2.63%
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 $509.0K $509.0K $886.0K
YoY Change -42.55% -42.81% -58.21%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $509.0K $509.0K $886.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $509.0K $509.0K $886.0K
YoY Change -42.55% -42.81% -58.21%
SHAREHOLDERS EQUITY
Retained Earnings -$77.00M -$73.27M
YoY Change 5.09%
Common Stock $80.45M $75.63M
YoY Change 6.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.451M $3.451M $2.359M
YoY Change
Total Liabilities & Shareholders Equity $3.960M $3.960M $3.245M
YoY Change 22.03% 21.85% -63.62%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$913.0K -$3.731M -$990.0K
YoY Change -7.78% -27.57% -81.73%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$1.203M -$3.750M -$1.190M
YoY Change 1.09% -18.71% -76.2%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.044M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.381M 4.381M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -1.203M -3.750M -1.190M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 4.381M 4.381M 0.000
Net Change In Cash 3.178M 631.0K -1.190M
YoY Change -367.06% -111.24%
FREE CASH FLOW
Cash From Operating Activities -$1.203M -$3.750M -$1.190M
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-style:italic;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-align:justify;text-indent:18pt;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 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>
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(i) issue annually to Fortress, on the anniversary date of the Founders Agreement, shares of common stock equal to two and one half percent (2.5%) of the fully-diluted outstanding equity of Avenue at the time of issuance; (ii) pay an equity fee in shares of Avenue common stock, payable within five (5) business days of the closing of any equity or debt financing for Avenue or any of its respective subsidiaries that occurs after the effective date of the Founders Agreement and ending on the date when Fortress no longer has majority voting control in Avenue’s voting equity, equal to two and one half percent (2.5%) of the gross amount of any such equity or debt financing; and (iii) pay a cash fee equal to four and one half percent (4.5%) of Avenue’s annual net sales, payable on an annual basis, within ninety (90) days of the end of each calendar year. In the event of a change in control (as it is defined in the Founders Agreement), Fortress will be paid a one-time change in control fee equal to five (5x) times the product of (i) net sales for the twelve (12) months immediately preceding the change in control and (ii) four and one-half percent (4.5%).
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
293000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
760000
CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1162000
CY2020Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
1283000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
6000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
16000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
2640000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
2640000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
27820000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
26939000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
27820000

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