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Eledon Pharmaceuticals, Inc.

2016 Q1 Form 10-K Financial Statement

#000119312516499163 Filed on March 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 2014 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.550M $12.62M $2.460M
YoY Change 29.56% 41.96% 105.0%
% of Gross Profit
Research & Development $7.931M $32.64M $3.800M
YoY Change -24.89% 123.9% -12.64%
% of Gross Profit
Depreciation & Amortization $53.00K $109.0K $0.00
YoY Change 960.0% 419.05%
% of Gross Profit
Operating Expenses $11.48M $45.26M $6.260M
YoY Change -13.68% 92.91% 12.79%
Operating Profit -$11.48M -$45.26M -$6.261M
YoY Change -13.68% 92.91% 12.83%
Interest Expense $50.00K $170.0K
YoY Change 25.0%
% of Operating Profit
Other Income/Expense, Net $50.00K
YoY Change 150.0%
Pretax Income -$11.43M -$45.09M -$6.210M
YoY Change -13.8% 93.52% 12.3%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$11.43M -$45.09M -$6.208M
YoY Change -13.83% 93.54% 12.36%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$81.64M -$322.1M -$44.36M
COMMON SHARES
Basic Shares Outstanding 22.63M shares 22.38M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $54.30M $64.00M $105.3M
YoY Change -42.36% -39.22% 231.13%
Cash & Equivalents $14.30M $24.00M $105.3M
Short-Term Investments $39.90M $39.90M
Other Short-Term Assets $2.700M $3.200M $2.300M
YoY Change 22.73% 39.13% 475.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $56.99M $67.20M $107.5M
YoY Change -40.84% -37.49% 234.11%
LONG-TERM ASSETS
Property, Plant & Equipment $453.0K $500.0K $33.00K
YoY Change 520.55% 13.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $300.0K $300.0K $200.0K
YoY Change 566.67% 50.0% 100.0%
Total Long-Term Assets $723.0K $800.0K $233.0K
YoY Change 127.36% 300.0% 113.76%
TOTAL ASSETS
Total Short-Term Assets $56.99M $67.20M $107.5M
Total Long-Term Assets $723.0K $800.0K $233.0K
Total Assets $57.71M $68.00M $107.7M
YoY Change -40.29% -36.86% 233.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.886M $1.200M $765.0K
YoY Change -45.08% 50.0% 15200.0%
Accrued Expenses $4.291M $5.000M $3.478M
YoY Change 84.96% 42.86% 57.8%
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 $6.177M $6.200M $4.243M
YoY Change 7.35% 47.62% 92.08%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K $0.00
YoY Change
Other Long-Term Liabilities $126.0K
YoY Change
Total Long-Term Liabilities $126.0K $100.0K $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.177M $6.200M $4.243M
Total Long-Term Liabilities $126.0K $100.0K $0.00
Total Liabilities $6.303M $6.300M $4.243M
YoY Change 9.54% 50.0% 92.08%
SHAREHOLDERS EQUITY
Retained Earnings -$142.9M -$86.35M
YoY Change 43.42% 36.95%
Common Stock $194.3M $189.9M
YoY Change 882972.73%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $51.41M $61.70M $103.5M
YoY Change
Total Liabilities & Shareholders Equity $57.71M $68.00M $107.7M
YoY Change -40.29% -36.86% 233.71%

Cashflow Statement

Concept 2016 Q1 2015 2014 Q4
OPERATING ACTIVITIES
Net Income -$11.43M -$45.09M -$6.208M
YoY Change -13.83% 93.54% 12.36%
Depreciation, Depletion And Amortization $53.00K $109.0K $0.00
YoY Change 960.0% 419.05%
Cash From Operating Activities -$9.740M -$41.24M -$6.460M
YoY Change -12.25% 95.27% -5.28%
INVESTING ACTIVITIES
Capital Expenditures $17.00K $565.0K $0.00
YoY Change -62.22% 2160.0%
Acquisitions
YoY Change
Other Investing Activities -$39.95M $0.00
YoY Change 26533.33%
Cash From Investing Activities -$20.00K -$40.51M $0.00
YoY Change -60.0% 22405.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 40.00K 510.0K 6.250M
YoY Change -33.33% -99.46% -59.57%
NET CHANGE
Cash From Operating Activities -9.740M -41.24M -6.460M
Cash From Investing Activities -20.00K -40.51M 0.000
Cash From Financing Activities 40.00K 510.0K 6.250M
Net Change In Cash -9.720M -81.24M -210.0K
YoY Change -12.35% -210.53% -102.43%
FREE CASH FLOW
Cash From Operating Activities -$9.740M -$41.24M -$6.460M
Capital Expenditures $17.00K $565.0K $0.00
Free Cash Flow -$9.757M -$41.81M -$6.460M
YoY Change -12.45% 97.71% -5.28%

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CY2015 us-gaap Concentration Risk Credit Risk
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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 41px; WIDOWS: 1; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Concentration of Risk</i></b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and marketable securities. The Company has all cash and cash equivalents and marketable securities&#x2019; balances at two accredited financial institutions, in amounts that exceed federally insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Company is dependent on third-party manufacturers to supply products for research and development activities in its programs. In particular, the Company relies and expects to continue to rely on a small number of manufacturers to supply it with its requirements for the active pharmaceutical ingredients and formulated drugs related to these programs. These programs could be adversely affected by a significant interruption in the supply of active pharmaceutical ingredients and formulated drugs.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Company is dependent on Qiagen Manchester Limited (&#x201C;Qiagen&#x201D;) to develop and commercialize a companion diagnostic test for use with galeterone to identify mCRPC patients with the AR-V7 splice variant. If Qiagen is unable to successfully develop and commercialize the companion diagnostic test, the development, approval and commercialization of galeterone could be adversely affected.</p> </div>
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0.005 pure
CY2015 us-gaap Stockholders Equity Reverse Stock Split
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P30D
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996845 shares
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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-LEFT: 41px; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b><i>Use of Estimates</i></b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of expenses during the reporting periods. Significant estimates, assumptions and judgments reflected in these consolidated financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of stock-based awards. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company&#x2019;s estimates.</p> </div>
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1400000
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TKAI
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565000
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464000
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