$DWTX
Dogwood Therapeutics, Inc.

2021 Q3 Form 10-Q Financial Statement

#000155837021011583 Filed on August 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 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 $1.150M $1.075M $510.0K
YoY Change -54.89% 110.84% 30.77%
% of Gross Profit
Research & Development $2.961M $3.209M $23.32K
YoY Change 2639.6% 13661.58% -78.8%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $4.111M $4.284M $538.4K
YoY Change 54.4% 695.81% 7.68%
Operating Profit -$4.111M -$4.284M -$538.4K
YoY Change 54.4% 695.81%
Interest Expense $1.510K $1.500K -$120.0K
YoY Change -101.51% -101.25% 71.43%
% of Operating Profit
Other Income/Expense, Net $1.509K $1.495K -$116.2K
YoY Change -102.46% -101.29%
Pretax Income -$4.110M -$4.283M -$654.6K
YoY Change 50.88% 554.3% 14.84%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.110M -$4.283M -$654.6K
YoY Change 50.88% 554.3% 14.84%
Net Earnings / Revenue
Basic Earnings Per Share -$0.49 -$0.51
Diluted Earnings Per Share -$493.4K -$0.51 -$83.01K
COMMON SHARES
Basic Shares Outstanding 8.330M 8.330M
Diluted Shares Outstanding 8.330M 8.330M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.19M $21.84M $1.050M
YoY Change 3737.26% 1979.53%
Cash & Equivalents $19.19M $21.84M $1.048M
Short-Term Investments
Other Short-Term Assets $920.9K $1.930M $160.0K
YoY Change 1434.85% 1106.06%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $20.11M $23.76M $1.210M
YoY Change 3490.58% 1864.03%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $60.00K
YoY Change
Total Long-Term Assets $0.00 $0.00 $60.00K
YoY Change -100.0% -100.0%
TOTAL ASSETS
Total Short-Term Assets $20.11M $23.76M $1.210M
Total Long-Term Assets $0.00 $0.00 $60.00K
Total Assets $20.11M $23.76M $1.270M
YoY Change 2445.22% 1771.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $483.5K $262.6K $200.0K
YoY Change 141.75% 31.3%
Accrued Expenses $743.3K $643.7K $1.650M
YoY Change -53.25% -60.99%
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 $1.227M $906.3K $1.850M
YoY Change -31.08% -51.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $5.490M
YoY Change -100.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $5.490M
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.227M $906.3K $1.850M
Total Long-Term Liabilities $0.00 $0.00 $5.490M
Total Liabilities $1.227M $906.3K $7.340M
YoY Change -79.35% -87.65%
SHAREHOLDERS EQUITY
Retained Earnings -$39.40M -$35.30M
YoY Change
Common Stock $833.00 $833.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.88M $22.86M -$6.060M
YoY Change
Total Liabilities & Shareholders Equity $20.11M $23.76M $1.270M
YoY Change 2445.22% 1771.24%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$4.110M -$4.283M -$654.6K
YoY Change 50.88% 554.3% 14.84%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$2.649M -$2.753M -$1.050M
YoY Change 372.99% 162.16% -5.41%
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 0.000 2.400K 1.790M
YoY Change -100.0% -99.87% -1.1%
NET CHANGE
Cash From Operating Activities -2.649M -2.753M -1.050M
Cash From Investing Activities
Cash From Financing Activities 0.000 2.400K 1.790M
Net Change In Cash -2.649M -2.750M 740.0K
YoY Change 381.59% -471.66% 5.71%
FREE CASH FLOW
Cash From Operating Activities -$2.649M -$2.753M -$1.050M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Entity Registrant Name
EntityRegistrantName
Virios Therapeutics, Inc.
CY2021Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
dei Entity Central Index Key
EntityCentralIndexKey
0001818844
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8330390
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8305075
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2021-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39811
dei Entity Address State Or Province
EntityAddressStateOrProvince
GA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
30009
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
85-4314201
dei Entity Address Address Line1
EntityAddressAddressLine1
44 Milton Avenue
dei Entity Address City Or Town
EntityAddressCityOrTown
Alpharetta
dei City Area Code
CityAreaCode
866
dei Local Phone Number
LocalPhoneNumber
620-8655
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
dei Trading Symbol
TradingSymbol
VIRI
dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2021Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
8330390
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21835092
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
29795366
CY2021Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1929690
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1677365
CY2021Q2 us-gaap Assets Current
AssetsCurrent
23764782
CY2020Q4 us-gaap Assets Current
AssetsCurrent
31472731
CY2021Q2 us-gaap Assets
Assets
23764782
CY2020Q4 us-gaap Assets
Assets
31472731
CY2021Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
262590
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
368905
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
643667
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
784104
CY2020Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
378833
CY2021Q2 us-gaap Liabilities Current
LiabilitiesCurrent
906257
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1531842
CY2021Q2 us-gaap Liabilities
Liabilities
906257
CY2020Q4 us-gaap Liabilities
Liabilities
1531842
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
43000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
43000000
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8330390
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8305075
CY2021Q2 us-gaap Common Stock Value
CommonStockValue
833
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
830
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
58161792
CY2020Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
57905164
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-35304100
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-27965105
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
22858525
CY2021Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
23764782
CY2019Q4 us-gaap Members Equity
MembersEquity
-5017509
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
29940889
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-116205
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2896
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-200206
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-4282962
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
31472731
CY2021Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3209201
CY2020Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-654585
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7338995
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
23320
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-200206
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1495
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4916159
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
53859
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1075256
CY2020Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
515060
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2425732
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
867073
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
4284457
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
538380
us-gaap Operating Expenses
OperatingExpenses
7341891
us-gaap Operating Expenses
OperatingExpenses
920932
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4284457
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-538380
us-gaap Operating Income Loss
OperatingIncomeLoss
-7341891
us-gaap Operating Income Loss
OperatingIncomeLoss
-920932
CY2021Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
1495
CY2020Q2 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-116205
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
2896
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1121138
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-4282962
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-654585
us-gaap Net Income Loss
NetIncomeLoss
-7338995
us-gaap Net Income Loss
NetIncomeLoss
-1121138
CY2021Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.51
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.14
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.88
us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.23
CY2021Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8330390
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4832494
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8328212
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
4832494
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
29940889
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
24825
CY2021Q1 viri Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
197562
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-3056033
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
27107243
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
34244
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-4282962
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
22858525
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-466553
CY2020Q1 us-gaap Members Equity
MembersEquity
-5484062
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
739108
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29795366
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
309384
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21835092
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-654585
CY2020Q2 us-gaap Members Equity
MembersEquity
-6138647
us-gaap Net Income Loss
NetIncomeLoss
-7338995
us-gaap Net Income Loss
NetIncomeLoss
-1121138
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
27321
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-15020
us-gaap Share Based Compensation
ShareBasedCompensation
59069
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
252325
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
142494
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
178734
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
135301
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-130320
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
110373
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-378833
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
-44287
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7862670
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1049944
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1869133
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
197562
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
45081
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
295166
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
35000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-97604
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1789052
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-7960274
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1048492
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
27525
CY2020Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
172500
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
12.50
CY2020Q4 viri Warrants Exercise Price As Percenatge Of Initial Public Offering Price
WarrantsExercisePriceAsPercenatgeOfInitialPublicOfferingPrice
1.25
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-4282962
us-gaap Net Income Loss
NetIncomeLoss
-7338995
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-654585
us-gaap Net Income Loss
NetIncomeLoss
-1121138
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7862670
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1049944
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-35300000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
43000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-indent:18pt;margin:0pt;">The preparation of these financial statements and accompanying notes in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company's significant estimates and assumptions include estimated work performed but not yet billed by contract manufacturers, engineers and research organizations, the valuation of equity and stock-based related instruments, and the valuation allowance related to deferred taxes. Some of these judgments can be subjective and complex, and, consequently, actual results could differ from those estimates. Although the Company believes that its estimates and assumptions are reasonable, they are based upon information </p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">available at the time the estimates and assumptions were made. Actual results could differ from those estimates.</p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2020Q2 us-gaap Notes Payable
NotesPayable
6706633
CY2021Q2 us-gaap Prepaid Insurance
PrepaidInsurance
807133
CY2020Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1586042
CY2021Q2 viri Prepaid Clinical Research Costs
PrepaidClinicalResearchCosts
1084942
CY2020Q4 viri Prepaid Clinical Research Costs
PrepaidClinicalResearchCosts
85270
CY2021Q2 viri Prepaid Investigator Meeting Expenses
PrepaidInvestigatorMeetingExpenses
36858
CY2020Q4 viri Prepaid Investigator Meeting Expenses
PrepaidInvestigatorMeetingExpenses
5729
CY2021Q2 viri Miscellaneous Receivables
MiscellaneousReceivables
757
CY2020Q4 viri Miscellaneous Receivables
MiscellaneousReceivables
324
CY2021Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1929690
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1677365
CY2021Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P4Y5M19D
CY2021Q2 viri Warrants And Rights Intrinsic Value
WarrantsAndRightsIntrinsicValue
0
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
345312
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
573479
CY2021Q2 viri Accrued Interest On Preferred Members Interest
AccruedInterestOnPreferredMembersInterest
188085
CY2020Q4 viri Accrued Interest On Preferred Members Interest
AccruedInterestOnPreferredMembersInterest
188085
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
64220
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
8992
CY2021Q2 viri Accrued Director Fees Current
AccruedDirectorFeesCurrent
31000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
15050
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
13548
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
643667
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
784104
CY2020Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
99452
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
172644
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
172500
CY2021Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
12.50
CY2020Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
2316000
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0

Files In Submission

Name View Source Status
0001558370-21-011583-index-headers.html Edgar Link pending
0001558370-21-011583-index.html Edgar Link pending
0001558370-21-011583.txt Edgar Link pending
0001558370-21-011583-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tmb-20210630.xsd Edgar Link pending
tmb-20210630x10q.htm Edgar Link pending
tmb-20210630x10q_htm.xml Edgar Link completed
tmb-20210630xex31d1.htm Edgar Link pending
tmb-20210630xex31d2.htm Edgar Link pending
tmb-20210630xex32d1.htm Edgar Link pending
tmb-20210630xex32d2.htm Edgar Link pending
tmb-20210630_cal.xml Edgar Link unprocessable
tmb-20210630_def.xml Edgar Link unprocessable
tmb-20210630_lab.xml Edgar Link unprocessable
tmb-20210630_pre.xml Edgar Link unprocessable