$CVKD
Cadrenal Therapeutics, Inc.

2024 Q4 Form 10-Q Financial Statement

#000121390024095393 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $784.6K
YoY Change 221.64%
% of Gross Profit
Depreciation & Amortization $407.00
YoY Change -31.83%
% of Gross Profit
Operating Expenses $2.460M
YoY Change 115.3%
Operating Profit -$2.460M
YoY Change 115.3%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $52.13K
YoY Change -50.89%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$2.408M
YoY Change 132.31%
Net Earnings / Revenue
Basic Earnings Per Share -$2.18
Diluted Earnings Per Share -$2.18
COMMON SHARES
Basic Shares Outstanding 1.659M shares 16.01M shares
Diluted Shares Outstanding 1.104M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $4.364M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $191.7K
Receivables
Other Receivables
Total Short-Term Assets $4.672M
YoY Change -49.64%
LONG-TERM ASSETS
Property, Plant & Equipment $814.00
YoY Change -71.78%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.792K
YoY Change 0.0%
Total Long-Term Assets $6.803K
YoY Change -79.74%
TOTAL ASSETS
Total Short-Term Assets $4.672M
Total Long-Term Assets $6.803K
Total Assets $4.679M
YoY Change -49.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $496.8K
YoY Change 250.72%
Accrued Expenses $767.9K
YoY Change 93.46%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.267M
YoY Change 124.81%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.267M
Total Long-Term Liabilities
Total Liabilities $1.267M
YoY Change 123.92%
SHAREHOLDERS EQUITY
Retained Earnings -$21.54M
YoY Change 54.63%
Common Stock $1.234K
YoY Change -90.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.412M
YoY Change
Total Liabilities & Shareholders Equity $4.679M
YoY Change -49.75%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$2.408M
YoY Change 132.31%
Depreciation, Depletion And Amortization $407.00
YoY Change -31.83%
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Use Of Estimates
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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 as of the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions made in the accompanying financial statements include but are not limited to the fair value of stock-based awards, deferred tax assets and valuation allowance, income tax uncertainties, and certain accruals. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances change. Actual results could differ from those estimates.</p>
us-gaap Concentration Risk Credit Risk
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentration of Credit and Other Risks and Uncertainties</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist primarily of cash and cash equivalents. Cash is maintained at high credit quality financial institutions and, at times, balances may exceed federally insured limits. All interest-bearing and non-interest-bearing cash balances are insured up to $250,000 at each financial institution. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is subject to a number of risks common for early-stage biopharmaceutical companies including, but not limited to, dependency on the clinical and commercial success of its product candidate, ability to obtain regulatory approval of its product candidate, the need for substantial additional financing to achieve its goals, uncertainty of broad adoption of its approved products, if any, by physicians and patients, significant competition and untested manufacturing capabilities.</p>
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us-gaap Common Stock Voting Rights
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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cvkd Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Exercised
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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CY2024Q3 cvkd Common Stock Outstanding Percentage
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CY2024Q3 us-gaap Stock Issued During Period Shares Period Increase Decrease
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CY2024Q3 cvkd Reserved Shares Of Common Stock Available For Issuance
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CY2024Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
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CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
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CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
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CY2024Q3 us-gaap Allocated Share Based Compensation Expense
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CY2023Q3 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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CY2024Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1104005 shares
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1104005 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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1026415 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1079489 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
842721 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.18
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.18
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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cvkd Percentage Of Gross Proceeds
PercentageOfGrossProceeds
0.07 pure
CY2024Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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CY2024Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
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cvkd Percentage Of Warrants Exercise Price
PercentageOfWarrantsExercisePrice
1.25 pure
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Rule10b51 Arr Adopted Flag
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CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
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CY2024Q3 us-gaap Preferred Stock Value
PreferredStockValue
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CY2024Q3 cvkd Rounding Of Fractional Shares From Reverse Stock Split
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cvkd Rounding Of Fractional Shares From Reverse Stock Split
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us-gaap Amortization Of Debt Discount Premium
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us-gaap Fair Value Adjustment Of Warrants
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us-gaap Gains Losses On Extinguishment Of Debt
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cvkd Issuance Of Shares To Settle Asset Purchase Agreement
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Net Cash Provided By Used In Investing Activities
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cvkd Proceeds From Sale Of Common Stock Prefunded Warrants And Warrants In Private Placement Net
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Repayments Of Related Party Debt
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us-gaap Proceeds From Issuance Initial Public Offering
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cvkd Derecognition Of Derivative Liabilities
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cvkd Issuance Of Investor Warrants
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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us-gaap Stock Issued During Period Shares Stock Options Exercised
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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cvkd Share Based Compensation Arrangement By Share Based Payment Award Options Canceled Forfeited Expired
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dei Amendment Flag
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false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0001937993

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