2022 Q2 Form 10-Q Financial Statement

#000095017022009809 Filed on May 13, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 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 $1.454M $1.884M $1.993M
YoY Change -45.46% -31.74% -28.57%
% of Gross Profit
Research & Development $4.004M $3.474M $3.902M
YoY Change -0.67% -9.6% 51.01%
% of Gross Profit
Depreciation & Amortization $15.00K $15.00K $15.00K
YoY Change 25.0% -25.0%
% of Gross Profit
Operating Expenses $5.458M $5.358M $5.895M
YoY Change -18.5% -18.88% 9.61%
Operating Profit
YoY Change
Interest Expense $12.00K $2.000K $2.000K
YoY Change -134.29% -71.43% -75.0%
% of Operating Profit
Other Income/Expense, Net $2.000K $2.000K
YoY Change -106.67% -105.71%
Pretax Income -$5.446M -$5.356M -$5.893M
YoY Change -19.1% -19.34% 8.93%
Income Tax
% Of Pretax Income
Net Earnings -$5.446M -$5.356M -$5.893M
YoY Change -19.1% -19.28% 8.87%
Net Earnings / Revenue
Basic Earnings Per Share -$0.11 $0.12
Diluted Earnings Per Share -$86.47K -$109.0K -$121.4K
COMMON SHARES
Basic Shares Outstanding 65.53M 49.13M 48.53M
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.78M $8.839M $14.06M
YoY Change 11.8% -43.77% -18.04%
Cash & Equivalents $11.78M $8.839M $14.06M
Short-Term Investments
Other Short-Term Assets $1.478M $1.254M $934.0K
YoY Change 17.68% 45.81% 69.82%
Inventory
Prepaid Expenses $1.478M $1.254M
Receivables
Other Receivables
Total Short-Term Assets $13.26M $10.09M $15.00M
YoY Change 12.42% -39.15% -15.35%
LONG-TERM ASSETS
Property, Plant & Equipment $90.00K $105.0K $120.0K
YoY Change -40.0% -36.36% -30.23%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.600M $2.600M $2.600M
YoY Change 62.5% 23.81% 0.0%
Total Long-Term Assets $2.690M $2.705M $2.720M
YoY Change 53.71% 19.43% -1.88%
TOTAL ASSETS
Total Short-Term Assets $13.26M $10.09M $15.00M
Total Long-Term Assets $2.690M $2.705M $2.720M
Total Assets $15.95M $12.80M $17.72M
YoY Change 17.76% -32.12% -13.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.269M $2.782M $2.895M
YoY Change 47.32% 68.61% 46.95%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.990M $3.240M $3.438M
YoY Change 43.53% 27.91% 26.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $163.0K $172.0K $178.0K
YoY Change -10.44% -14.0% -1.11%
Total Long-Term Liabilities $163.0K $172.0K $178.0K
YoY Change -10.44% -14.0% -1.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.990M $3.240M $3.438M
Total Long-Term Liabilities $163.0K $172.0K $178.0K
Total Liabilities $4.153M $3.412M $3.616M
YoY Change 40.21% 24.75% 24.69%
SHAREHOLDERS EQUITY
Retained Earnings -$136.4M -$130.9M -$125.6M
YoY Change 22.59% 25.28% 28.31%
Common Stock $135.6M $127.7M
YoY Change 26.88% 26.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $11.80M $9.386M $14.10M
YoY Change
Total Liabilities & Shareholders Equity $15.95M $12.80M $17.72M
YoY Change 17.76% -32.12% -13.52%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$5.446M -$5.356M -$5.893M
YoY Change -19.1% -19.28% 8.87%
Depreciation, Depletion And Amortization $15.00K $15.00K $15.00K
YoY Change 25.0% -25.0%
Cash From Operating Activities -$4.992M -$5.223M -$5.104M
YoY Change 6.44% 12.81% -6.0%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -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 7.933M -2.000K -171.0K
YoY Change -1722.29% -100.06% 1610.0%
NET CHANGE
Cash From Operating Activities -4.992M -5.223M -5.104M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 7.933M -2.000K -171.0K
Net Change In Cash 2.941M -5.225M -5.275M
YoY Change -156.83% 260.34% -3.03%
FREE CASH FLOW
Cash From Operating Activities -$4.992M -$5.223M -$5.104M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$4.992M -$5.223M
YoY Change 6.39% 13.05%

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PaymentsOfDividendsPreferredStockAndPreferenceStock
6000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
13702000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
26533000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1698000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
13326000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10537000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2392000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8839000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
15718000
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:-4.749%;padding-left:4.533%;font-size:10.0pt;margin-top:10.0pt;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:Times New Roman;min-width:fit-content;">1 Nature of operations, corporate history, and going concern and management plans</span></p><p style="text-indent:0.0%;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:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Nature of operations</span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Kintara Therapeutics, Inc. (the “Company”) is a clinical-stage drug development company with a focus on the development of novel cancer therapies for patients with unmet medical needs. The Company is developing two late-stage, Phase 3-ready therapeutics - VAL-083 for glioblastoma multiforme and REM-001 for cutaneous metastatic breast cancer. In order to accelerate the Company’s development timelines, it leverages existing preclinical and clinical data from a wide range of sources. The Company may seek marketing partnerships in order to potentially offset clinical costs and to generate future royalty revenue from approved indications of its product candidates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On June 9, 2020, the Company entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”), by and among Adgero Acquisition Corp., the Company’s wholly-owned subsidiary incorporated in the State of Delaware (“Merger Sub”), and Adgero Biopharmaceuticals Holdings, Inc., a Delaware corporation (“Adgero”). On August 19, 2020, upon the terms and subject to the conditions set forth in the Merger Agreement, Merger Sub merged with and into Adgero (the “Merger”), the separate corporate existence of Merger Sub ceased and Adgero continued its existence under Delaware law as the surviving corporation in the Merger and became a direct, wholly-owned subsidiary of the Company. As a result of the Merger, each issued and outstanding share of Adgero common stock, par value $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.0001</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> per share (the “Adgero Common Stock”) (other than treasury shares held by Adgero), was converted automatically into </span><span style="font-size:10.0pt;font-family:Times New Roman;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">1.5740 shares</span></span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> (the “Exchange Ratio”) of the Company’s common stock per share of Adgero Common Stock, and cash in lieu of any fractional shares. Also, each outstanding warrant to purchase Adgero Common Stock was converted into a warrant exercisable for that number of shares of the Company’s common stock equal to the product of (x) the aggregate number of shares of Adgero Common Stock for which such warrant was exercisable and (y) the Exchange Ratio.</span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Following the completion of the Merger, the Company changed its name from DelMar Pharmaceuticals, Inc. to Kintara Therapeutics, Inc. and began trading on Nasdaq under the symbol “KTRA”.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.0110416666666666;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:Times New Roman;min-width:fit-content;">Corporate history</span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company is a Nevada corporation formed on June 24, 2009 under the name Berry Only, Inc. On January 25, 2013, the Company entered into and closed an exchange agreement (the “Exchange Agreement”), with Del Mar Pharmaceuticals (BC) Ltd. (“Del Mar (BC)”), 0959454 B.C. Ltd. (“Callco”), and 0959456 B.C. Ltd. (“Exchangeco”) and the security holders of Del Mar (BC). Upon completion of the Exchange Agreement, Del Mar (BC) became a wholly-owned subsidiary of the Company (the “Reverse Acquisition”).</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Kintara Therapeutics, Inc. is the parent company of Del Mar (BC), a British Columbia, Canada corporation and Adgero, a Delaware corporation, which are clinical-stage companies with a focus on the development of drugs for the treatment of cancer. The Company is also the parent company to Callco and Exchangeco which are British Columbia, Canada corporations. Callco and Exchangeco were formed to facilitate the Reverse Acquisition. In connection with the Merger, the Company also became the parent company of Adgero Biopharmaceuticals, Inc. (“Adgero Bio”), formerly a wholly-owned subsidiary of Adgero.</span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">References to the Company refer to the Company and its wholly-owned subsidiaries.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.0110416666666666;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:Times New Roman;min-width:fit-content;">Going concern and management plans</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.0110416666666666;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:6.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">These condensed consolidated interim financial statements have been prepared on a going concern basis, which assumes that the Company will continue its operations for the foreseeable future and contemplates the realization of assets and the settlement of liabilities in the normal course of business.</span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">For the nine months ended March 31, 2022, the Company reported a loss of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">17,215</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> and a negative cash flow from operations of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">15,400</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">. The Company had an accumulated deficit of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">130,908</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> and had cash and cash equivalents of $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">8,839</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> as of March 31, 2022. The Company is in the clinical stage and has not generated any revenues to date. The Company does not have the prospect of achieving revenues until such time that its product candidates are commercialized, or partnered, which may not ever occur. On April 14, 2022, the Company completed a registered direct financing for net proceeds of approximately $</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">7.9</span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million. Even with the proceeds from this financing, the Company will require additional funding to maintain its clinical trials, research and development projects, and for general operations. These circumstances indicate substantial doubt exists about the Company’s ability to continue as a going concern within </span><span style="font-size:10.0pt;font-family:Times New Roman;"><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">one year</span></span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> from the date of filing of these condensed consolidated interim financial statements.</span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Consequently, management is pursuing various financing alternatives to fund the Company’s operations so it can continue as a going concern. However, the coronavirus (“COVID-19”) pandemic has created significant economic uncertainty and volatility in the credit and capital markets. Management plans to continue to pursue opportunities to secure the necessary financing through the issue of new equity, debt, and/or the entering into of strategic partnership arrangements but the </span><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:Times New Roman;min-width:fit-content;">ultimate impact of the COVID-19 pandemic on the Company’s ability to raise additional capital is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak and any new information which may emerge concerning the severity of the COVID-19 pandemic. </span><span style="background-color:rgba(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company may not be able to raise sufficient additional capital and may tailor its drug candidate development programs based on the amount of funding the Company is able to raise in the future. Nevertheless, there is no assurance that these initiatives will be successful.</span></p><p style="text-indent:4.533%;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(255,255,255,1);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">These condensed consolidated financial statements do not give effect to any adjustments to the amounts and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. Such adjustments could be material.</span></p>
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Conversion Basis
CommonStockConversionBasis
1.5740 shares
us-gaap Net Income Loss
NetIncomeLoss
-17215000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15400000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;line-height:1.035;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:Times New Roman;min-width:fit-content;">Use of estimates</span></p><p style="text-indent:4.533%;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:Times New Roman;min-width:fit-content;">The preparation of 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 at 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 and clinical trial accruals. Further details of the nature of these assumptions and conditions may be found in the relevant notes to these condensed consolidated interim financial statements.</span></p>
CY2022Q1 ktra Patient Enrollment Milestones Payments
PatientEnrollmentMilestonesPayments
1840000
CY2021Q1 ktra Patient Enrollment Milestones Payments
PatientEnrollmentMilestonesPayments
1708000
ktra Patient Enrollment Milestones Payments
PatientEnrollmentMilestonesPayments
5770000
ktra Patient Enrollment Milestones Payments
PatientEnrollmentMilestonesPayments
2958000
ktra In Progress Research And Development Expense
InProgressResearchAndDevelopmentExpense
16094000
ktra Property Equipment And Intangibles Estimated Useful Life
PropertyEquipmentAndIntangiblesEstimatedUsefulLife
P3Y
us-gaap Legal Fees
LegalFees
1554000
us-gaap Professional Fees
ProfessionalFees
500000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
300000
CY2022Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
240000
us-gaap Payments To Employees
PaymentsToEmployees
60000
CY2021Q2 ktra Milestone Payment Liability
MilestonePaymentLiability
182000
ktra Milestone Payment Liability Change In Fair Value Estimate
MilestonePaymentLiabilityChangeInFairValueEstimate
-10000
CY2022Q1 ktra Milestone Payment Liability
MilestonePaymentLiability
172000
ktra Deposits Payments
DepositsPayments
2600000
CY2022Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
458000
CY2021Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
561000
ktra Underwritten Public Offerings Description
UnderwrittenPublicOfferingsDescription
the Company closed on the sale of (i) 7,200 shares of its common stock, par value $0.001 per share, (ii) pre-funded warrants (“PFW”) to purchase an aggregate of 4,800 shares of common stock and (iii) common warrants to purchase an aggregate of 12,000 shares of common stock (“2022 Investor Warrants”) in the Company’s registered direct offering (the “September Offering”). Each share of common stock, or PFW as applicable, was sold together with a 2022 Investor Warrant to purchase one share of common stock at a combined effective price of $1.25 per share of common stock and accompanying 2022 Investor Warrant. The 2022 Investor Warrants have been valued at $7,023 and have been treated as equity. They have been valued using a Black-Scholes valuation with a risk-free rate of 0.55%, a contractual term of 3.5 years, a volatility of 116.7%, and a dividend rate of 0%.
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9846000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4060000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
642000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1718000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2283000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4248000
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
3860000
CY2021Q2 ktra Share Based Compensation Arrangement By Share Based Payment Award Stock Options Unvested Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardStockOptionsUnvestedWeightedAverageExercisePrice
1.60
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3964000
ktra Share Based Compensation Arrangement By Share Based Payment Award Stock Options Granted Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardStockOptionsGrantedWeightedAverageExercisePrice
0.99
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1556000
ktra Share Based Compensation Arrangement By Share Based Payment Award Stock Options Vested Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardStockOptionsVestedWeightedAverageExercisePrice
1.55
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
482000
ktra Share Based Compensation Arrangement By Share Based Payment Award Stock Options Forfeited Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardStockOptionsForfeitedWeightedAverageExercisePrice
1.64
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
5786000
CY2022Q1 ktra Share Based Compensation Arrangement By Share Based Payment Award Stock Options Unvested Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardStockOptionsUnvestedWeightedAverageExercisePrice
1.19
ktra Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageRemainingContractualTerm
P9Y2M1D
ktra Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageRemainingContractualTerm
P9Y4M20D
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
3181000
ktra Non Cash Issue Costs
NonCashIssueCosts
333000
ktra Non Cash Issue Costs
NonCashIssueCosts
3287000

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