$ATXI
Avenue Therapeutics Inc

2023 Q3 Form 10-Q Financial Statement

#000143774923023335 Filed on August 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.160M $896.0K $454.0K
YoY Change 147.33% 97.36% -27.13%
% of Gross Profit
Research & Development $907.0K $3.027M $151.0K
YoY Change 367.53% 1904.64% -53.96%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $907.0K $3.027M $151.0K
YoY Change 367.53% 1904.64% -53.96%
Operating Profit -$2.068M -$3.923M -$605.0K
YoY Change 211.92% 548.43% -36.38%
Interest Expense $10.00K $57.00K $1.000K
YoY Change 900.0% 5600.0% -50.0%
% of Operating Profit
Other Income/Expense, Net $2.581M -$93.00K $1.000K
YoY Change 258000.0% -9400.0%
Pretax Income $510.0K -$4.016M -$604.0K
YoY Change -177.04% 564.9% -36.35%
Income Tax
% Of Pretax Income
Net Earnings $513.0K -$4.016M -$604.0K
YoY Change -177.49% 564.9% -36.35%
Net Earnings / Revenue
Basic Earnings Per Share $0.06 -$0.52 -$0.03
Diluted Earnings Per Share $0.06 -$0.52 -$0.03
COMMON SHARES
Basic Shares Outstanding 8.183M 7.920M 21.92M
Diluted Shares Outstanding 8.200M 21.92M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $160.0K $1.571M $890.0K
YoY Change -26.27% 76.52% -20.61%
Cash & Equivalents $161.0K $1.571M $900.0K
Short-Term Investments
Other Short-Term Assets $330.0K $69.00K $115.0K
YoY Change -7.82% -40.0% 64.29%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $500.0K $1.666M $1.005M
YoY Change -13.04% 65.77% -15.62%
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 $2.000K $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $500.0K $1.666M $1.005M
Total Long-Term Assets $2.000K $0.00 $0.00
Total Assets $502.0K $1.666M $1.005M
YoY Change -12.7% 65.77% -15.62%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $296.0K $446.0K $293.0K
YoY Change -18.68% 52.22% 257.32%
Accrued Expenses $1.430M $1.494M $114.0K
YoY Change 472.0% 1210.53% -75.59%
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 $5.024M $7.812M $407.0K
YoY Change 718.24% 1819.41% -25.87%
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 $5.024M $7.812M $407.0K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $5.024M $7.812M $407.0K
YoY Change 718.24% 1819.41% -25.87%
SHAREHOLDERS EQUITY
Retained Earnings -$91.60M -$92.10M -$80.50M
YoY Change 12.95% 14.41% 7.05%
Common Stock $1.000K $1.000K $81.06M
YoY Change -100.0% -100.0% 6.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.650M -$5.336M $598.0K
YoY Change
Total Liabilities & Shareholders Equity $502.0K $1.666M $1.005M
YoY Change -12.7% 65.77% -15.62%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $513.0K -$4.016M -$604.0K
YoY Change -177.49% 564.9% -36.35%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$890.0K -$4.665M -$943.0K
YoY Change 60.65% 394.7% 34.52%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.000M -$2.000M
YoY Change
Cash From Investing Activities -$1.000M -$2.000M
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 480.0K 0.000
YoY Change -503.36%
NET CHANGE
Cash From Operating Activities -890.0K -4.665M -943.0K
Cash From Investing Activities -1.000M -2.000M
Cash From Financing Activities 480.0K 0.000
Net Change In Cash -1.410M -6.665M -943.0K
YoY Change 109.51% 606.79% 34.52%
FREE CASH FLOW
Cash From Operating Activities -$890.0K -$4.665M -$943.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
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-92100000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><i>Use of Estimates</i></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;text-align:justify;margin:0pt;text-indent:18pt;">The Company's consolidated financial statements include certain amounts that are based on management's best estimates and judgements. The Company's significant estimates include, but are <em style="font: inherit;">not</em> limited to, fair value of warrants, stock-based compensation, common stock issued to acquire licenses, accrued expenses, provisions for income taxes and contingencies. Due to the uncertainty inherent in such estimates, actual results <em style="font: inherit;"> may </em>differ from these estimates.</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;text-align:justify;margin:0pt;"></p>
CY2019Q4 atxi Contractual Obligation Development Expense
ContractualObligationDevelopmentExpense
81500000 usd
CY2019Q4 atxi Contractual Obligation Commercial Expense
ContractualObligationCommercialExpense
151000000 usd
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7877935
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
446000 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
129000 usd
CY2023Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
154000 usd
CY2022Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
199000 usd
CY2023Q2 atxi Accrued Contingent Fee
AccruedContingentFee
0 usd
CY2022Q4 atxi Accrued Contingent Fee
AccruedContingentFee
208000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
286000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
413000 usd
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
886000 usd
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
949000 usd
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
38078
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1685000000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.14
atxi Sharebased Compensation Arrangement By Sharebased Payment Award Options Grands In Period Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrandsInPeriodWeightedAverageRemainingContractualTerm
P10Y
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
-0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
-0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
-0
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1685000000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.14
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P10Y
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
51000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
1685000000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
1.14
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P10Y
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
51000 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
0
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 usd
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
1700000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.249 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.257 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.041 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27000 usd
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
43000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
38000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
612000 usd
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
4137916
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.30
CY2022 atxi Class Of Warrant Or Right Aggregate Intrinsic Value
ClassOfWarrantOrRightAggregateIntrinsicValue
1000 usd
CY2023Q1 atxi Class Of Warrant Or Right Issued During Period
ClassOfWarrantOrRightIssuedDuringPeriod
3432598
CY2023Q1 atxi Class Of Warrant Or Right Granted During Period Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightGrantedDuringPeriodExercisePriceOfWarrantsOrRights
0.88
CY2023Q1 atxi Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
400083
CY2023Q1 atxi Class Of Warrant Or Right Exercised During Period Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisedDuringPeriodExercisePriceOfWarrantsOrRights
0
CY2023Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
7170431
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.32
CY2023Q1 atxi Class Of Warrant Or Right Aggregate Intrinsic Value
ClassOfWarrantOrRightAggregateIntrinsicValue
1272000 usd
CY2023Q2 atxi Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
1092299
CY2023Q2 atxi Class Of Warrant Or Right Exercised During Period Exercise Price Of Warrants Or Rights
ClassOfWarrantOrRightExercisedDuringPeriodExercisePriceOfWarrantsOrRights
0
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
6078132
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.55
CY2023Q2 atxi Class Of Warrant Or Right Aggregate Intrinsic Value
ClassOfWarrantOrRightAggregateIntrinsicValue
1000 usd

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