$ELDN
Eledon Pharmaceuticals, Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022016935 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.146M $3.540M $3.224M
YoY Change 10.46% -5.07% -3.76%
% of Gross Profit
Research & Development $7.452M $5.743M $6.635M
YoY Change -2.69% 35.38% 17.37%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.60M $9.283M $9.859M
YoY Change 0.88% 16.46% 9.48%
Operating Profit -$10.60M -$9.283M -$9.859M
YoY Change 0.88% 16.46% 9.48%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $127.0K $36.00K -$5.000K
YoY Change 4133.33% -3700.0% -200.0%
Pretax Income -$10.47M -$9.247M -$9.864M
YoY Change -0.3% 15.99% 9.6%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$10.47M -$9.247M -$9.864M
YoY Change 6.66% 25.23% 16.06%
Net Earnings / Revenue
Basic Earnings Per Share -$0.73 -$0.65 -$0.69
Diluted Earnings Per Share -$0.73 -$0.65 -$688.3K
COMMON SHARES
Basic Shares Outstanding 13.76M 14.27M 14.33M
Diluted Shares Outstanding 14.27M 14.27M 14.33M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.89M $70.46M $76.68M
YoY Change -29.94% -30.33% -29.4%
Cash & Equivalents $65.89M $70.46M $76.68M
Short-Term Investments
Other Short-Term Assets $57.00K $32.00K $17.00K
YoY Change 418.18% 190.91% -34.62%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $67.57M $72.79M $79.33M
YoY Change -29.29% -29.04% -28.04%
LONG-TERM ASSETS
Property, Plant & Equipment $832.0K $581.0K $675.0K
YoY Change 274.77% 117.6% 575.0%
Goodwill $48.65M $48.65M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $155.0K $303.0K $344.0K
YoY Change -56.46% -28.2% 14.67%
Total Long-Term Assets $82.02M $81.92M $82.05M
YoY Change 0.5% 0.24% 0.73%
TOTAL ASSETS
Total Short-Term Assets $67.57M $72.79M $79.33M
Total Long-Term Assets $82.02M $81.92M $82.05M
Total Assets $149.6M $154.7M $161.4M
YoY Change -15.57% -16.06% -15.82%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.859M $1.318M $1.026M
YoY Change 141.49% 53.79% -31.6%
Accrued Expenses $2.421M $1.958M $1.932M
YoY Change -1.1% 7.58% -28.44%
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 $6.280M $3.276M $2.958M
YoY Change 55.22% 22.38% -29.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $461.0K $299.0K $350.0K
YoY Change 924.44% 232.22%
Total Long-Term Liabilities $461.0K $299.0K $350.0K
YoY Change 924.44% 232.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.280M $3.276M $2.958M
Total Long-Term Liabilities $461.0K $299.0K $350.0K
Total Liabilities $8.493M $5.327M $5.060M
YoY Change 32.25% -7.9% -35.22%
SHAREHOLDERS EQUITY
Retained Earnings -$144.5M -$134.0M -$124.8M
YoY Change 36.19% 39.15% 40.4%
Common Stock $285.6M $283.4M
YoY Change 3.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $141.1M $149.4M $156.3M
YoY Change
Total Liabilities & Shareholders Equity $149.6M $154.7M $161.4M
YoY Change -15.57% -16.06% -15.81%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$10.47M -$9.247M -$9.864M
YoY Change 6.66% 25.23% 16.06%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$4.571M -$6.217M -$8.156M
YoY Change -35.56% -16.46% 57.88%
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 0.000 0.000
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -4.571M -6.217M -8.156M
Cash From Investing Activities
Cash From Financing Activities 0.000 0.000 0.000
Net Change In Cash -4.571M -6.217M -8.156M
YoY Change -35.55% -16.46% 45.23%
FREE CASH FLOW
Cash From Operating Activities -$4.571M -$6.217M -$8.156M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:5.333%;font-size:10.0pt;margin-top:6.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make informed estimates and assumptions that affect 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 in the Company’s consolidated financial statements relate to stock-based compensation, accruals for liabilities, impairment of long-lived assets, including goodwill, and other matters that affect the consolidated financial statements and related disclosures. Actual results could differ materially from those estimates under different assumptions or conditions and the differences may be material to the consolidated financial statements.</span></p>
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ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.001
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-9247000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-7384000
us-gaap Net Income Loss
NetIncomeLoss
-19111000
us-gaap Net Income Loss
NetIncomeLoss
-15883000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.65
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.50
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.50
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.07
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
654231
us-gaap Operating Lease Payments
OperatingLeasePayments
193000
CY2022Q2 us-gaap Prepaid Insurance
PrepaidInsurance
698000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1344000
CY2022Q2 eldn Prepaid Clinical Expense
PrepaidClinicalExpense
1373000
CY2021Q4 eldn Prepaid Clinical Expense
PrepaidClinicalExpense
2039000
CY2022Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
225000
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
96000
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
32000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
34000
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2328000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3513000
us-gaap Operating Lease Payments
OperatingLeasePayments
97000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M28D
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0300
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0318
CY2022Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1061000
CY2021Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1411000
CY2021Q4 eldn Accrued Severance Current
AccruedSeveranceCurrent
104000
CY2022Q2 eldn Accrued Clinical Current
AccruedClinicalCurrent
472000
CY2021Q4 eldn Accrued Clinical Current
AccruedClinicalCurrent
454000
CY2022Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
125000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
167000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
13000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
83000
CY2022Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
1671000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2219000
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
us-gaap Operating Lease Cost
OperatingLeaseCost
203000
us-gaap Operating Lease Cost
OperatingLeaseCost
98000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
194000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
212000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
200000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
606000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
20000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
586000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
287000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
299000
CY2022Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2022Q2 eldn Contingent Liability
ContingentLiability
0
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2308000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2034000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4494000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3808000

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