$BNTC
Benitec Biopharma Inc.

2024 Q2 Form 10-Q Financial Statement

#000119312524136727 Filed on May 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change -100.0% -100.0%
Cost Of Revenue $0.00 -$3.000K
YoY Change
Gross Profit $0.00 $3.000K
YoY Change
Gross Profit Margin
Selling, General & Admin $2.036M $1.578M
YoY Change 48.61% 28.5%
% of Gross Profit 52600.0%
Research & Development $3.512M $2.566M
YoY Change 10.09% -18.98%
% of Gross Profit 85533.33%
Depreciation & Amortization $26.00K $25.00K
YoY Change -21.88%
% of Gross Profit 833.33%
Operating Expenses $5.548M $4.141M
YoY Change 21.67% -5.78%
Operating Profit -$5.548M -$4.141M
YoY Change -4.61%
Interest Expense $982.0K -$4.000K
YoY Change -3373.33% -42.86%
% of Operating Profit
Other Income/Expense, Net -$154.0K -$138.0K
YoY Change 92.5% 146.43%
Pretax Income -$4.720M -$4.279M
YoY Change 1.29% -2.68%
Income Tax
% Of Pretax Income
Net Earnings -$5.339M -$4.279M
YoY Change 14.57% -2.68%
Net Earnings / Revenue
Basic Earnings Per Share -$1.64
Diluted Earnings Per Share -$0.60 -$1.64
COMMON SHARES
Basic Shares Outstanding 9.367M 2.592M
Diluted Shares Outstanding 2.616M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $50.87M $14.14M
YoY Change 1951.05% 115.89%
Cash & Equivalents $50.90M $14.10M
Short-Term Investments
Other Short-Term Assets $516.0K $157.0K
YoY Change -56.42% -79.72%
Inventory
Prepaid Expenses $577.0K $225.0K
Receivables $229.0K $53.00K
Other Receivables $0.00 $0.00
Total Short-Term Assets $51.67M $14.37M
YoY Change 1285.73% 94.27%
LONG-TERM ASSETS
Property, Plant & Equipment $179.0K $204.0K
YoY Change 105.75% 92.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $62.00K $69.00K
YoY Change -36.08% -34.29%
Total Long-Term Assets $536.0K $633.0K
YoY Change -27.07% -23.27%
TOTAL ASSETS
Total Short-Term Assets $51.67M $14.37M
Total Long-Term Assets $536.0K $633.0K
Total Assets $52.21M $15.00M
YoY Change 1069.58% 82.47%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.351M $815.0K
YoY Change 18.51% 28.35%
Accrued Expenses $3.435M $2.543M
YoY Change 24.01% 2.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.924M $3.437M
YoY Change 23.78% 9.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $38.00K $62.00K
YoY Change -86.43% -82.49%
Total Long-Term Liabilities $38.00K $62.00K
YoY Change -86.43% -82.49%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.924M $3.437M
Total Long-Term Liabilities $38.00K $62.00K
Total Liabilities $4.962M $3.499M
YoY Change 16.42% -0.23%
SHAREHOLDERS EQUITY
Retained Earnings -$190.3M -$184.9M
YoY Change 13.32% 13.29%
Common Stock $238.4M $197.3M
YoY Change 41.13% 16.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $47.25M $11.50M
YoY Change
Total Liabilities & Shareholders Equity $52.21M $15.00M
YoY Change 1069.58% 82.47%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$5.339M -$4.279M
YoY Change 14.57% -2.68%
Depreciation, Depletion And Amortization $26.00K $25.00K
YoY Change -21.88%
Cash From Operating Activities -$3.293M -$6.168M
YoY Change -19.49% 53.09%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $179.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 -$179.0K
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 40.07M 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -3.293M -6.168M
Cash From Investing Activities 0.000 -179.0K
Cash From Financing Activities 40.07M 0.000
Net Change In Cash 36.78M -6.347M
YoY Change -999.22% 57.53%
FREE CASH FLOW
Cash From Operating Activities -$3.293M -$6.168M
Capital Expenditures $0.00 $179.0K
Free Cash Flow -$3.293M -$6.347M
YoY Change -19.49%

Facts In Submission

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CY2022Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
-48000
CY2022Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-160000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-5411000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
8994000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
71000
CY2023Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
45000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-4397000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
4713000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
202000
CY2023Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2964000
CY2023Q3 bntc Issuance And Exercise Of Prefunded And Common Warrants Net Of Transaction Costs
IssuanceAndExerciseOfPrefundedAndCommonWarrantsNetOfTransactionCosts
27919000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
91000
CY2023Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
50000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-5954000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
22308000
CY2023Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
39000
CY2023Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
93000
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
-6798000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
15470000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
192000
CY2024Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
117000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-4279000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
11500000
us-gaap Net Income Loss
NetIncomeLoss
-17031000
us-gaap Net Income Loss
NetIncomeLoss
-14901000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
61000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2449295
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1299423
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1299423
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
2882000
CY2022Q3 bntc Issuance And Exercise Of Prefunded And Common Warrants Net Of Transaction Costs
IssuanceAndExerciseOfPrefundedAndCommonWarrantsNetOfTransactionCosts
16015000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
14613000
CY2022Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-160000
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-5411000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
8994000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
71000
CY2023Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
45000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
202000
CY2023Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2964000
CY2023Q3 bntc Issuance And Exercise Of Prefunded And Common Warrants Net Of Transaction Costs
IssuanceAndExerciseOfPrefundedAndCommonWarrantsNetOfTransactionCosts
27919000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
91000
CY2023Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
50000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-5954000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
22308000
CY2023Q4 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
39000
CY2023Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
93000
CY2023Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-172000
CY2023Q4 us-gaap Net Income Loss
NetIncomeLoss
-6798000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
15470000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
192000
CY2024Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
117000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-4279000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
11500000
us-gaap Net Income Loss
NetIncomeLoss
-17031000
us-gaap Net Income Loss
NetIncomeLoss
-14901000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
61000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
115000
bntc Amortization Of Right Of Use Assets
AmortizationOfRightOfUseAssets
191000
bntc Amortization Of Right Of Use Assets
AmortizationOfRightOfUseAssets
182000
bntc Unrealized Gain Loss On Investment
UnrealizedGainLossOnInvestment
-1000
bntc Unrealized Gain Loss On Investment
UnrealizedGainLossOnInvestment
-4000
us-gaap Share Based Compensation
ShareBasedCompensation
376000
us-gaap Share Based Compensation
ShareBasedCompensation
325000
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
0
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
50000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
14000
bntc Increasedecrease In Accounts And Other Payables
IncreasedecreaseInAccountsAndOtherPayables
-602000
bntc Increasedecrease In Accounts And Other Payables
IncreasedecreaseInAccountsAndOtherPayables
580000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
48000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
30000
bntc Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-205000
bntc Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-188000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16110000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13917000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
179000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2964000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1869000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
27958000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16015000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-3000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
391000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
115000
bntc Unrealized Gain Loss On Investment
UnrealizedGainLossOnInvestment
-1000
bntc Unrealized Gain Loss On Investment
UnrealizedGainLossOnInvestment
-4000
us-gaap Share Based Compensation
ShareBasedCompensation
376000
us-gaap Share Based Compensation
ShareBasedCompensation
325000
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
0
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
50000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-1051000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
14000
bntc Increasedecrease In Accounts And Other Payables
IncreasedecreaseInAccountsAndOtherPayables
-602000
bntc Increasedecrease In Accounts And Other Payables
IncreasedecreaseInAccountsAndOtherPayables
580000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
48000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
30000
bntc Increase Decrease In Lease Liabilities
IncreaseDecreaseInLeaseLiabilities
-188000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16110000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
179000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-179000
bntc Proceeds From Issuance Of Common Stock Pre Funded Warrants And Common Warrants
ProceedsFromIssuanceOfCommonStockPreFundedWarrantsAndCommonWarrants
30922000
bntc Proceeds From Issuance Of Common Stock Pre Funded Warrants And Common Warrants
ProceedsFromIssuanceOfCommonStockPreFundedWarrantsAndCommonWarrants
17884000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2964000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1869000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
27958000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16015000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-3000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
391000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11666000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2489000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2490000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4076000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
14156000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6565000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2019-11-22
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
11666000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2489000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2490000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4076000
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2019-11-22
CY2023Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On July 26, 2023, the Company effected a 1-for-17 reverse stock split (the “Reverse Stock Split”) of its common stock. In accordance with the Reverse Stock Split, 17 pre-split shares of the Company’s common stock were automatically converted into one issued and outstanding post-split share. Proportional adjustments were also made to all outstanding stock options, pre-funded warrants, and common warrants in accordance with their respective terms. The Reverse Stock Split did not change the par value of the Company’s common stock or the authorized number of shares. No fractional shares were issued in connection with the Reverse Stock Split. All fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock.
CY2023Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
On July 26, 2023, the Company effected a 1-for-17 reverse stock split (the “Reverse Stock Split”) of its common stock. In accordance with the Reverse Stock Split, 17 pre-split shares of the Company’s common stock were automatically converted into one issued and outstanding post-split share. Proportional adjustments were also made to all outstanding stock options, pre-funded warrants, and common warrants in accordance with their respective terms. The Reverse Stock Split did not change the par value of the Company’s common stock or the authorized number of shares. No fractional shares were issued in connection with the Reverse Stock Split. All fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock.
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Use of Estimates </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;text-indent: 0px;"><div style="display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The preparation of the Company’s consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements and accompanying notes. The most significant estimates and assumptions in the Company’s consolidated financial statements relate to accrued research and development expense and valuation of equity-based instruments issued for other than cash. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. </div></div></div>
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
13000
CY2024Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
13000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Concentrations of Risk </div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits at federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts, and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. </div>
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
13000
CY2024Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
13000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Concentrations of Risk </div><div style="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits at federally insured financial institutions in excess of federally insured limits. The Company has not experienced any losses in such accounts, and management believes that the Company is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held. </div>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
34481458
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2456032
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
34481458
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2456032
us-gaap Net Income Loss
NetIncomeLoss
-17000000
us-gaap Net Income Loss
NetIncomeLoss
-14900000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16100000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13900000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14100000
us-gaap Net Income Loss
NetIncomeLoss
-17000000
us-gaap Net Income Loss
NetIncomeLoss
-14900000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-16100000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13900000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14100000
CY2024Q1 us-gaap Due From Banks
DueFromBanks
14143000
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
14156000
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2490000
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
225000
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1280000
CY2024Q1 bntc Market Value Of Listed Shares
MarketValueOfListedShares
1000
CY2023Q2 us-gaap Other Assets
OtherAssets
1281000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
69000
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
97000
CY2024Q1 us-gaap Due From Banks
DueFromBanks
14143000
CY2023Q2 us-gaap Due From Banks
DueFromBanks
2477000
CY2024Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
13000
CY2023Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
13000
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
14156000
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2490000
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
225000
CY2023Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1280000
CY2024Q1 bntc Market Value Of Listed Shares
MarketValueOfListedShares
1000
CY2023Q2 bntc Market Value Of Listed Shares
MarketValueOfListedShares
1000
CY2024Q1 us-gaap Other Assets
OtherAssets
226000
CY2023Q2 us-gaap Other Assets
OtherAssets
1281000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
69000
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
97000
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1184000
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1584000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1405000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1380000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1318000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
204000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
87000
CY2024Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
61000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
32000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
115000
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
157000
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1184000
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1584000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1405000
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1380000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1318000
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
204000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
87000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
61000
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
32000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
115000
CY2024Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
815000
CY2023Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1140000
CY2024Q1 bntc Accrued Licence Fees Current
AccruedLicenceFeesCurrent
0
CY2023Q2 bntc Accrued Licence Fees Current
AccruedLicenceFeesCurrent
109000
CY2024Q1 bntc Accrued Consultant Fees Current
AccruedConsultantFeesCurrent
85000
CY2023Q2 bntc Accrued Consultant Fees Current
AccruedConsultantFeesCurrent
88000
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
64000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
75000
CY2024Q1 bntc Accrued Clinical Development Project Costs
AccruedClinicalDevelopmentProjectCosts
-1585000
CY2023Q2 bntc Accrued Clinical Development Project Costs
AccruedClinicalDevelopmentProjectCosts
-1750000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
79000
CY2024Q1 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
815000
CY2023Q2 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
1140000
CY2023Q2 bntc Accrued Licence Fees Current
AccruedLicenceFeesCurrent
109000
CY2024Q1 bntc Accrued Consultant Fees Current
AccruedConsultantFeesCurrent
85000
CY2023Q2 bntc Accrued Consultant Fees Current
AccruedConsultantFeesCurrent
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CY2024Q1 us-gaap Accrued Professional Fees Current
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