$ELDN
Eledon Pharmaceuticals, Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022025007 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.790M $3.146M $2.848M
YoY Change -12.89% 10.46% -23.65%
% of Gross Profit
Research & Development $7.250M $7.452M $7.658M
YoY Change 17.28% -2.69% 1145.2%
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $10.04M $10.60M $10.51M
YoY Change 6.98% 0.88% 70.88%
Operating Profit -$10.60M -$10.51M
YoY Change 0.88% 70.88%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $304.0K $127.0K $3.000K
YoY Change 4133.33% -25.0%
Pretax Income -$58.38M -$10.47M -$10.50M
YoY Change 522.1% -0.3% 70.95%
Income Tax $0.00 $0.00 -$686.0K
% Of Pretax Income
Net Earnings -$58.38M -$10.47M -$9.817M
YoY Change 563.0% 6.66% 59.78%
Net Earnings / Revenue
Basic Earnings Per Share -$0.73 -$0.66
Diluted Earnings Per Share -$4.09 -$0.73 -$662.6K
COMMON SHARES
Basic Shares Outstanding 13.76M 13.76M 14.82M
Diluted Shares Outstanding 14.27M 14.82M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.41M $65.89M $94.04M
YoY Change -33.51% -29.94% -17.87%
Cash & Equivalents $56.40M $65.89M $94.00M
Short-Term Investments
Other Short-Term Assets $28.00K $57.00K $11.00K
YoY Change -17.65% 418.18% -35.29%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $59.52M $67.57M $95.56M
YoY Change -32.63% -29.29% -16.98%
LONG-TERM ASSETS
Property, Plant & Equipment $739.0K $832.0K $222.0K
YoY Change -3.78% 274.77% 11.0%
Goodwill $0.00 $48.65M
YoY Change -100.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $150.0K $155.0K $356.0K
YoY Change -62.5% -56.46% -20.71%
Total Long-Term Assets $33.28M $82.02M $81.61M
YoY Change -59.52% 0.5% 5.33%
TOTAL ASSETS
Total Short-Term Assets $59.52M $67.57M $95.56M
Total Long-Term Assets $33.28M $82.02M $81.61M
Total Assets $92.79M $149.6M $177.2M
YoY Change -45.59% -15.57% -8.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.200M $3.859M $1.598M
YoY Change 21.35% 141.49% 110.82%
Accrued Expenses $4.275M $2.421M $2.448M
YoY Change 65.19% -1.1% -54.67%
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 $6.475M $6.280M $4.046M
YoY Change 47.13% 55.22% -33.67%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $383.0K $461.0K $45.00K
YoY Change -4.25% 924.44% -99.97%
Total Long-Term Liabilities $383.0K $461.0K $45.00K
YoY Change -4.25% 924.44% -99.97%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.475M $6.280M $4.046M
Total Long-Term Liabilities $383.0K $461.0K $45.00K
Total Liabilities $8.610M $8.493M $6.422M
YoY Change 31.39% 32.25% -96.25%
SHAREHOLDERS EQUITY
Retained Earnings -$202.9M -$144.5M -$106.1M
YoY Change 76.59% 36.19% 42.44%
Common Stock $287.0M $285.6M $276.8M
YoY Change 2.92% 3.15% 188.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $84.18M $141.1M $170.7M
YoY Change
Total Liabilities & Shareholders Equity $92.79M $149.6M $177.2M
YoY Change -45.59% -15.57% -8.0%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$58.38M -$10.47M -$9.817M
YoY Change 563.0% 6.66% 59.78%
Depreciation, Depletion And Amortization $0.00
YoY Change -100.0%
Cash From Operating Activities -$9.480M -$4.571M -$7.093M
YoY Change 2.95% -35.56% 1166.61%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00
YoY Change -100.0%
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 1.000K
YoY Change -100.0% -100.0%
NET CHANGE
Cash From Operating Activities -9.480M -4.571M -7.093M
Cash From Investing Activities 0.000
Cash From Financing Activities 0.000 0.000 1.000K
Net Change In Cash -9.480M -4.571M -7.092M
YoY Change 2.95% -35.55% -106.71%
FREE CASH FLOW
Cash From Operating Activities -$9.480M -$4.571M -$7.093M
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:&quot;Times New Roman&quot;, serif;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:&quot;Times New Roman&quot;, serif;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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us-gaap Net Income Loss
NetIncomeLoss
-29582000
us-gaap Net Income Loss
NetIncomeLoss
-25700000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.73
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.73
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.66
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.66
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.73
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14265905
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14265905
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14815852
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14815852
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14289729
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14289729
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14820822
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14820822
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8223206
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
299000
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
1344000
CY2022Q3 eldn Prepaid Clinical Expense
PrepaidClinicalExpense
1141000
CY2021Q4 eldn Prepaid Clinical Expense
PrepaidClinicalExpense
2039000
CY2022Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
179000
CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
96000
CY2022Q3 us-gaap Other Assets Current
OtherAssetsCurrent
57000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
34000
CY2022Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1676000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3513000
CY2022Q3 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1281000
CY2021Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1411000
CY2021Q4 eldn Accrued Severance Current
AccruedSeveranceCurrent
104000
CY2022Q3 eldn Accrued Clinical Current
AccruedClinicalCurrent
611000
CY2021Q4 eldn Accrued Clinical Current
AccruedClinicalCurrent
454000
CY2022Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
102000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
167000
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
49000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
83000
CY2022Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2043000
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2219000
CY2022Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
300000
us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2022Q3 eldn Lessee Operating Lease Effective Date Of Lease Amendment
LesseeOperatingLeaseEffectiveDateOfLeaseAmendment
2023-01-01
CY2022Q3 eldn Contingent Liability
ContingentLiability
0
us-gaap Operating Lease Cost
OperatingLeaseCost
303000
us-gaap Operating Lease Cost
OperatingLeaseCost
145000
us-gaap Operating Lease Payments
OperatingLeasePayments
290000
us-gaap Operating Lease Payments
OperatingLeasePayments
146000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0249
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0318
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
97000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
378000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
389000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
864000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
25000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
839000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
378000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
461000
CY2022Q3 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2185000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2043000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6679000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5851000

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