$EPIX
ESSA Pharma Inc.

2024 Q2 Form 10-Q Financial Statement

#000155837024008053 Filed on May 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $62.77K $18.51K
YoY Change -70.51%
Gross Profit -$62.77K -$18.51K
YoY Change -70.51%
Gross Profit Margin
Selling, General & Admin $3.174M $4.316M
YoY Change 12.8% 11.01%
% of Gross Profit
Research & Development $5.464M $6.178M
YoY Change -12.87% 37.87%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $8.638M $10.49M
YoY Change -3.07% 27.76%
Operating Profit -$8.701M -$10.51M
YoY Change -2.37% 27.01%
Interest Expense $1.405M $1.504M
YoY Change -12.93% 30.23%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$7.234M -$8.990M
YoY Change -0.89% 27.36%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.234M -$8.990M
YoY Change -0.89% 27.33%
Net Earnings / Revenue
Basic Earnings Per Share -$0.16 -$0.20
Diluted Earnings Per Share -$0.16 -$0.20
COMMON SHARES
Basic Shares Outstanding 44.36M 44.24M
Diluted Shares Outstanding 44.37M 44.24M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $130.7M $135.9M
YoY Change -14.28% -13.47%
Cash & Equivalents $85.99M $91.68M
Short-Term Investments $44.71M $44.21M
Other Short-Term Assets $1.213M $1.194M
YoY Change 76.27% 12.5%
Inventory
Prepaid Expenses $1.213M $1.194M
Receivables $183.6K $215.2K
Other Receivables $0.00 $0.00
Total Short-Term Assets $132.1M $137.3M
YoY Change -13.83% -13.17%
LONG-TERM ASSETS
Property, Plant & Equipment $318.3K $340.9K
YoY Change 234.47% 171.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $257.0K $257.4K
YoY Change -2.9% -2.73%
Total Long-Term Assets $575.3K $598.3K
YoY Change 59.87% 53.34%
TOTAL ASSETS
Total Short-Term Assets $132.1M $137.3M
Total Long-Term Assets $575.3K $598.3K
Total Assets $132.7M $137.9M
YoY Change -13.66% -13.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.908M $2.041M
YoY Change -6.95% 70.68%
Accrued Expenses $869.1K $1.296M
YoY Change 12.98% 260.93%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.575M $4.174M
YoY Change 4.91% 94.46%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $229.7K $253.0K
YoY Change 1179.12%
Total Long-Term Liabilities $229.7K $253.0K
YoY Change 1179.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.575M $4.174M
Total Long-Term Liabilities $229.7K $253.0K
Total Liabilities $3.805M $4.427M
YoY Change 11.65% 104.36%
SHAREHOLDERS EQUITY
Retained Earnings -$201.6M -$194.4M
YoY Change 15.9% 16.64%
Common Stock $279.8M $279.7M
YoY Change 0.58% 0.55%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $128.9M $133.5M
YoY Change
Total Liabilities & Shareholders Equity $132.7M $137.9M
YoY Change -13.66% -13.0%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$7.234M -$8.990M
YoY Change -0.89% 27.33%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$5.745M -$6.818M
YoY Change 72.82% -2.24%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $23.48K $62.51M
YoY Change -100.95% 72357.22%
Cash From Investing Activities $23.48K $62.51M
YoY Change -100.95% 72357.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.58K 643.6K
YoY Change -172.02% -1957.97%
NET CHANGE
Cash From Operating Activities -5.745M -6.818M
Cash From Investing Activities 23.48K 62.51M
Cash From Financing Activities 25.58K 643.6K
Net Change In Cash -5.696M 56.33M
YoY Change -2.34% -913.78%
FREE CASH FLOW
Cash From Operating Activities -$5.745M -$6.818M
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 March 31, 2024, no products are in commercial production or use.</span></p>
us-gaap Use Of Estimates
UseOfEstimates
<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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CY2023Q3 us-gaap Operating Lease Right Of Use Asset
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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us-gaap Operating Lease Right Of Use Asset Amortization Expense
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CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
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CY2023Q3 us-gaap Operating Lease Liability
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epix Operating Lease Liabilities Addition
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us-gaap Operating Lease Cost
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CY2024Q1 us-gaap Operating Lease Liability
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CY2024Q1 us-gaap Operating Lease Liability Current
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CY2024Q1 us-gaap Operating Lease Liability Noncurrent
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CY2024Q1 us-gaap Lessee Operating Lease Discount Rate
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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us-gaap Number Of Operating Segments
NumberOfOperatingSegments
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CY2024Q1 epix Cash Canada Deposit Insurance Corporation Insured Amount
CashCanadaDepositInsuranceCorporationInsuredAmount
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CY2024Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
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CY2024Q1 epix Working Capital
WorkingCapital
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CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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