$EPIX
ESSA Pharma Inc.

2024 Q1 Form 10-Q Financial Statement

#000155837024001017 Filed on February 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $18.51K
YoY Change -70.51%
Gross Profit -$18.51K
YoY Change -70.51%
Gross Profit Margin
Selling, General & Admin $4.316M $2.218M
YoY Change 11.01% -14.21%
% of Gross Profit
Research & Development $6.178M $5.377M
YoY Change 37.87% 0.61%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $10.49M $7.595M
YoY Change 27.76% -3.45%
Operating Profit -$10.51M
YoY Change 27.01%
Interest Expense $1.504M $1.630M
YoY Change 30.23% 45.07%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$8.990M -$5.964M
YoY Change 27.36% -11.53%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$8.990M -$5.964M
YoY Change 27.33% -11.53%
Net Earnings / Revenue
Basic Earnings Per Share -$0.20 -$0.14
Diluted Earnings Per Share -$0.20 -$0.14
COMMON SHARES
Basic Shares Outstanding 44.24M 44.14M
Diluted Shares Outstanding 44.24M 44.13M

Balance Sheet

Concept 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $135.9M $142.1M
YoY Change -13.47% -12.85%
Cash & Equivalents $91.68M $35.34M
Short-Term Investments $44.21M $106.8M
Other Short-Term Assets $1.194M $1.568M
YoY Change 12.5% 4.45%
Inventory
Prepaid Expenses $1.194M $1.568M
Receivables $215.2K $180.6K
Other Receivables $0.00 $0.00
Total Short-Term Assets $137.3M $143.9M
YoY Change -13.17% -12.59%
LONG-TERM ASSETS
Property, Plant & Equipment $340.9K $363.2K
YoY Change 171.43% 132.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $257.4K $257.2K
YoY Change -2.73% -0.85%
Total Long-Term Assets $598.3K $620.4K
YoY Change 53.34% 49.31%
TOTAL ASSETS
Total Short-Term Assets $137.3M $143.9M
Total Long-Term Assets $598.3K $620.4K
Total Assets $137.9M $144.5M
YoY Change -13.0% -12.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.041M $2.600M
YoY Change 70.68% 58.99%
Accrued Expenses $1.296M $284.8K
YoY Change 260.93% -61.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.174M $3.531M
YoY Change 94.46% 20.3%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $253.0K $275.5K
YoY Change 1179.12% 470.64%
Total Long-Term Liabilities $253.0K $275.5K
YoY Change 1179.12% 470.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.174M $3.531M
Total Long-Term Liabilities $253.0K $275.5K
Total Liabilities $4.427M $3.806M
YoY Change 104.36% 27.58%
SHAREHOLDERS EQUITY
Retained Earnings -$194.4M -$185.4M
YoY Change 16.64% 16.17%
Common Stock $279.7M $278.5M
YoY Change 0.55% 0.13%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $133.5M $140.7M
YoY Change
Total Liabilities & Shareholders Equity $137.9M $144.5M
YoY Change -13.0% -12.43%

Cashflow Statement

Concept 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$8.990M -$5.964M
YoY Change 27.33% -11.53%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$6.818M -$6.787M
YoY Change -2.24% 35.88%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $62.51M $8.233M
YoY Change 72357.22% -1039.42%
Cash From Investing Activities $62.51M $8.233M
YoY Change 72357.22% -1039.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 643.6K 196.7K
YoY Change -1957.97% 1156.45%
NET CHANGE
Cash From Operating Activities -6.818M -6.787M
Cash From Investing Activities 62.51M 8.233M
Cash From Financing Activities 643.6K 196.7K
Net Change In Cash 56.33M 1.643M
YoY Change -913.78% -128.05%
FREE CASH FLOW
Cash From Operating Activities -$6.818M -$6.787M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1.     NATURE OF OPERATIONS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;"><b style="font-style:normal;font-weight:bold;">Nature of Operations</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company was incorporated under the laws of the Province of British Columbia on January 6, 2009. The Company’s head office address is Suite 720 – 999 West Broadway, Vancouver, BC, V5Z 1K5. The registered and records office address is the Suite 3500, The Stack, 1133 Melville Street, Vancouver, BC, V6E 4E5. The Company is listed on the Nasdaq Capital Market (“Nasdaq”) under the symbol “EPIX”. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-weight:normal;">The</span> <span style="font-weight:normal;">Company is focused on the development of small molecule drugs for the treatment of prostate cancer. The Company has acquired a license to certain patents (“NTD”) which were the joint property of the British Columbia Cancer Agency and the University of British Columbia. As of December 31, 2023, no products are in commercial production or use.</span></p>
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;"><b style="font-style:normal;font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of the accompanying condensed consolidated interim financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions about future events that affect the reported amounts of assets, liabilities, expenses, contingent assets and contingent liabilities as of the end of, or during, the reporting period. Actual results could significantly differ from those estimates. Significant areas requiring management to make estimates include the valuation of equity instruments issued for services. Further details of the nature of these assumptions and conditions may be found in the relevant notes to these condensed consolidated interim financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The effect of a change in an accounting estimate is recognized prospectively by including it in comprehensive income in the period of the change, if the change affects that period only, or in the period of the change and future periods, if the change affects both. Estimates and assumptions are reviewed quarterly.</p>
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CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2023Q4 us-gaap Operating Lease Liability
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