$ELDN
Eledon Pharmaceuticals, Inc.

2023 Q3 Form 10-Q Financial Statement

#000095017023041456 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.270M $3.153M
YoY Change 3.94% -10.93%
% of Gross Profit
Research & Development $7.931M $7.201M
YoY Change 6.43% 25.39%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $11.20M $10.35M
YoY Change 5.66% 11.54%
Operating Profit -$11.20M -$10.35M
YoY Change 5.66% 11.54%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $849.0K $775.0K
YoY Change 568.5% 2052.78%
Pretax Income -$10.35M -$9.579M
YoY Change -1.16% 3.59%
Income Tax
% Of Pretax Income
Net Earnings -$10.35M -$9.579M
YoY Change -1.17% 3.59%
Net Earnings / Revenue
Basic Earnings Per Share -$0.35 -$0.40
Diluted Earnings Per Share -$0.35 -$0.40
COMMON SHARES
Basic Shares Outstanding 23.55M 22.51M
Diluted Shares Outstanding 29.97M 24.01M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.60M $71.38M
YoY Change -9.54% 1.3%
Cash & Equivalents $3.667M $40.95M
Short-Term Investments $55.90M $30.43M
Other Short-Term Assets $90.00K $238.0K
YoY Change 57.89% 643.75%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $62.99M $73.62M
YoY Change -6.77% 1.15%
LONG-TERM ASSETS
Property, Plant & Equipment $500.0K $553.0K
YoY Change -39.9% -4.82%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $233.0K $224.0K
YoY Change 50.32% -26.07%
Total Long-Term Assets $33.08M $33.16M
YoY Change -59.67% -59.52%
TOTAL ASSETS
Total Short-Term Assets $62.99M $73.62M
Total Long-Term Assets $33.08M $33.16M
Total Assets $96.07M $106.8M
YoY Change -35.78% -30.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $465.0K $2.197M
YoY Change -87.95% 66.69%
Accrued Expenses $2.400M $2.703M
YoY Change -0.87% 38.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.899M $4.900M
YoY Change -53.84% 49.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $100.0K $184.0K
YoY Change -78.31% -38.46%
Total Long-Term Liabilities $100.0K $184.0K
YoY Change -78.31% -38.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.899M $4.900M
Total Long-Term Liabilities $100.0K $184.0K
Total Liabilities $4.734M $6.836M
YoY Change -44.26% 28.33%
SHAREHOLDERS EQUITY
Retained Earnings -$233.6M -$223.2M
YoY Change 61.66% 66.57%
Common Stock $324.9M $323.2M
YoY Change 13.77% 14.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $91.34M $99.95M
YoY Change
Total Liabilities & Shareholders Equity $96.07M $106.8M
YoY Change -35.78% -30.98%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$10.35M -$9.579M
YoY Change -1.17% 3.59%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$12.25M -$8.221M
YoY Change 167.99% 32.23%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$25.03M -$30.33M
YoY Change
Cash From Investing Activities -$25.03M -$30.33M
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 33.02M
YoY Change
NET CHANGE
Cash From Operating Activities -12.25M -8.221M
Cash From Investing Activities -25.03M -30.33M
Cash From Financing Activities 0.000 33.02M
Net Change In Cash -37.28M -5.538M
YoY Change 715.58% -10.92%
FREE CASH FLOW
Cash From Operating Activities -$12.25M -$8.221M
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;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;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, 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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OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y5M12D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y10M28D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0249
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0300
CY2023Q2 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1416000
CY2022Q4 us-gaap Workers Compensation Liability Current
WorkersCompensationLiabilityCurrent
1909000
CY2023Q2 eldn Accrued Clinical Current
AccruedClinicalCurrent
826000
CY2022Q4 eldn Accrued Clinical Current
AccruedClinicalCurrent
1826000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
33000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
65000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
38000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
112000
CY2023Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2313000
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
3912000
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2023Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
0
us-gaap Operating Lease Cost
OperatingLeaseCost
199000
us-gaap Operating Lease Cost
OperatingLeaseCost
203000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
197000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
388000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
585000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
574000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
390000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
184000
CY2023Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
0
CY2023Q2 eldn Contingent Liability
ContingentLiability
0
CY2023Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
22718499
eldn Number Of Specific Clinical Development Milestones Achieved
NumberOfSpecificClinicalDevelopmentMilestonesAchieved
0
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1720000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2308000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3101000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4494000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-9579000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-9247000
us-gaap Net Income Loss
NetIncomeLoss
-20351000
us-gaap Net Income Loss
NetIncomeLoss
-19111000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.4
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.4
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.65
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.65
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.34
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24006549
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24006549
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14265905
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14265905
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19173080
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19173080
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14299969
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14299969
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
25263692
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8321474

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