2021 Q4 Form 10-Q Financial Statement
#000156459022004688 Filed on February 11, 2022
Income Statement
| Concept | 2021 Q4 | 2020 Q4 |
|---|---|---|
| Revenue | $0.00 | $0.00 |
| YoY Change | ||
| Cost Of Revenue | ||
| YoY Change | ||
| Gross Profit | ||
| YoY Change | ||
| Gross Profit Margin | ||
| Selling, General & Admin | $1.993M | $2.790M |
| YoY Change | -28.57% | 165.71% |
| % of Gross Profit | ||
| Research & Development | $3.902M | $2.584M |
| YoY Change | 51.01% | 263.94% |
| % of Gross Profit | ||
| Depreciation & Amortization | $15.00K | $0.00 |
| YoY Change | -100.0% | |
| % of Gross Profit | ||
| Operating Expenses | $5.895M | $5.378M |
| YoY Change | 9.61% | 204.53% |
| Operating Profit | ||
| YoY Change | ||
| Interest Expense | $2.000K | $8.000K |
| YoY Change | -75.0% | -73.33% |
| % of Operating Profit | ||
| Other Income/Expense, Net | $2.000K | -$35.00K |
| YoY Change | -105.71% | |
| Pretax Income | -$5.893M | -$5.410M |
| YoY Change | 8.93% | 210.92% |
| Income Tax | ||
| % Of Pretax Income | ||
| Net Earnings | -$5.893M | -$5.413M |
| YoY Change | 8.87% | 211.09% |
| Net Earnings / Revenue | ||
| Basic Earnings Per Share | $0.12 | $0.22 |
| Diluted Earnings Per Share | -$121.4K | -$217.7K |
| COMMON SHARES | ||
| Basic Shares Outstanding | 48.53M | 24.85M |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2021 Q4 | 2020 Q4 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $14.06M | $17.16M |
| YoY Change | -18.04% | 170.24% |
| Cash & Equivalents | $14.06M | $17.16M |
| Short-Term Investments | ||
| Other Short-Term Assets | $934.0K | $550.0K |
| YoY Change | 69.82% | 358.33% |
| Inventory | ||
| Prepaid Expenses | $551.0K | |
| Receivables | ||
| Other Receivables | ||
| Total Short-Term Assets | $15.00M | $17.72M |
| YoY Change | -15.35% | 172.57% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $120.0K | $172.0K |
| YoY Change | -30.23% | |
| Goodwill | ||
| YoY Change | ||
| Intangibles | ||
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $2.600M | $2.600M |
| YoY Change | 0.0% | |
| Total Long-Term Assets | $2.720M | $2.772M |
| YoY Change | -1.88% | 27620.0% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $15.00M | $17.72M |
| Total Long-Term Assets | $2.720M | $2.772M |
| Total Assets | $17.72M | $20.49M |
| YoY Change | -13.52% | 214.73% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.895M | $1.970M |
| YoY Change | 46.95% | 162.67% |
| Accrued Expenses | ||
| YoY Change | ||
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $470.0K |
| YoY Change | -100.0% | |
| Long-Term Debt Due | ||
| YoY Change | ||
| Total Short-Term Liabilities | $3.438M | $2.727M |
| YoY Change | 26.07% | 164.76% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Other Long-Term Liabilities | $178.0K | $180.0K |
| YoY Change | -1.11% | |
| Total Long-Term Liabilities | $178.0K | $180.0K |
| YoY Change | -1.11% | |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $3.438M | $2.727M |
| Total Long-Term Liabilities | $178.0K | $180.0K |
| Total Liabilities | $3.616M | $2.900M |
| YoY Change | 24.69% | 181.55% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$125.6M | -$97.85M |
| YoY Change | 28.31% | |
| Common Stock | $93.58M | |
| YoY Change | ||
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $14.10M | $17.59M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $17.72M | $20.49M |
| YoY Change | -13.52% | 214.73% |
Cashflow Statement
| Concept | 2021 Q4 | 2020 Q4 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$5.893M | -$5.413M |
| YoY Change | 8.87% | 211.09% |
| Depreciation, Depletion And Amortization | $15.00K | $0.00 |
| YoY Change | -100.0% | |
| Cash From Operating Activities | -$5.104M | -$5.430M |
| YoY Change | -6.0% | 217.54% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | ||
| YoY Change | ||
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $0.00 | $0.00 |
| YoY Change | ||
| Cash From Investing Activities | $0.00 | $0.00 |
| 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 | -171.0K | -10.00K |
| YoY Change | 1610.0% | |
| NET CHANGE | ||
| Cash From Operating Activities | -5.104M | -5.430M |
| Cash From Investing Activities | 0.000 | 0.000 |
| Cash From Financing Activities | -171.0K | -10.00K |
| Net Change In Cash | -5.275M | -5.440M |
| YoY Change | -3.03% | 218.13% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$5.104M | -$5.430M |
| Capital Expenditures | ||
| Free Cash Flow | ||
| YoY Change |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| ktra |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageRemainingContractualTerm
|
P9Y7M20D | ||
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
7695000 | ||
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3941000 | ||
| CY2021Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
1993000 | |
| CY2020Q4 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2794000 | |
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4171000 | ||
| us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
4329000 | ||
| ktra |
Merger Costs
MergerCosts
|
500000 | ||
| ktra |
In Progress Research And Development Expense
InProgressResearchAndDevelopmentExpense
|
16094000 | ||
| CY2021Q4 | us-gaap |
Operating Expenses
OperatingExpenses
|
5895000 | |
| CY2020Q4 | us-gaap |
Operating Expenses
OperatingExpenses
|
5378000 | |
| CY2020Q4 | us-gaap |
Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
|
-3000 | |
| CY2020Q4 | us-gaap |
Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
|
25000 | |
| us-gaap |
Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
|
51000 | ||
| CY2021Q4 | us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
1000 | |
| us-gaap |
Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
|
-14000 | ||
| CY2020Q4 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-35000 | |
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
7000 | ||
| us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-67000 | ||
| CY2020Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5413000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-11859000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-24931000 | ||
| CY2021Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5893000 | |
| CY2020Q4 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5413000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-11859000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-24931000 | ||
| us-gaap |
Dividends Preferred Stock Stock
DividendsPreferredStockStock
|
3181000 | ||
| CY2021Q4 | us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
2000 | |
| CY2020Q4 | us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
2000 | |
| us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
4000 | ||
| us-gaap |
Dividends Preferred Stock Cash
DividendsPreferredStockCash
|
4000 | ||
| CY2020Q4 | us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
4000 | |
| us-gaap |
Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
|
9000 | ||
| ktra |
Series C Preferred Stock Dividend
SeriesCPreferredStockDividend
|
-2462000 | ||
| CY2021Q4 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-5895000 | |
| CY2020Q4 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-5419000 | |
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-14325000 | ||
| us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-28125000 | ||
| CY2021Q4 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.12 | |
| CY2020Q4 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.22 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.35 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.34 | ||
| CY2021Q4 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
48529000 | |
| CY2020Q4 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
24845000 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
41405000 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
20976000 | ||
| CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
10581000 | |
| CY2021Q3 | ktra |
Issuance Of Shares And Warrants Net Of Issue Cost
IssuanceOfSharesAndWarrantsNetOfIssueCost
|
13634000 | |
| CY2021Q3 | ktra |
Exercise Of2020 Investor Warrants For Cash
ExerciseOf2020InvestorWarrantsForCash
|
69000 | |
| CY2021Q3 | ktra |
Exercise Of Pre Funded Warrants For Cash
ExerciseOfPreFundedWarrantsForCash
|
5000 | |
| CY2021Q3 | us-gaap |
Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
|
31000 | |
| CY2021Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
811000 | |
| CY2021Q3 | ktra |
Series Preferred Stock Dividends
SeriesPreferredStockDividends
|
-2000 | |
| CY2021Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-5966000 | |
| CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
19163000 | |
| CY2021Q4 | us-gaap |
Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
|
4000 | |
| CY2021Q4 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
830000 | |
| CY2021Q4 | ktra |
Series Preferred Stock Dividends
SeriesPreferredStockDividends
|
-2000 | |
| CY2021Q4 | us-gaap |
Profit Loss
ProfitLoss
|
-5893000 | |
| CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14102000 | |
| CY2020Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
263000 | |
| CY2020Q3 | ktra |
Adgero Merger Value
AdgeroMergerValue
|
16725000 | |
| CY2020Q3 | ktra |
Issuance Of Series C Preferred Stock
IssuanceOfSeriesCPreferredStock
|
25028000 | |
| CY2020Q3 | ktra |
Series C Preferred Stock Issue Costs
SeriesCPreferredStockIssueCosts
|
-3386000 | |
| CY2020Q3 | ktra |
Exercise Of Warrants For Cash
ExerciseOfWarrantsForCash
|
994000 | |
| CY2020Q3 | us-gaap |
Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
|
45000 | |
| CY2020Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
405000 | |
| CY2020Q3 | ktra |
Series Preferred Stock Dividends
SeriesPreferredStockDividends
|
-2000 | |
| CY2020Q3 | us-gaap |
Profit Loss
ProfitLoss
|
-19518000 | |
| CY2020Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
20554000 | |
| CY2020Q4 | ktra |
Series C Preferred Stock Issue Costs
SeriesCPreferredStockIssueCosts
|
-69000 | |
| CY2020Q4 | ktra |
Exercise Of Warrants For Cash
ExerciseOfWarrantsForCash
|
186000 | |
| CY2020Q4 | us-gaap |
Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
|
183000 | |
| CY2020Q4 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
21000 | |
| CY2020Q4 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2125000 | |
| CY2020Q4 | ktra |
Series Preferred Stock Dividends
SeriesPreferredStockDividends
|
-2000 | |
| CY2020Q4 | us-gaap |
Profit Loss
ProfitLoss
|
-5413000 | |
| CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
17585000 | |
| us-gaap |
Profit Loss
ProfitLoss
|
-11859000 | ||
| us-gaap |
Profit Loss
ProfitLoss
|
-24931000 | ||
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
2000 | ||
| us-gaap |
Depreciation
Depreciation
|
30000 | ||
| ktra |
In Progress Research And Development Expense
InProgressResearchAndDevelopmentExpense
|
16094000 | ||
| ktra |
Gain Loss From Change In Fair Value Of Milestone Liability
GainLossFromChangeInFairValueOfMilestoneLiability
|
4000 | ||
| us-gaap |
Interest Expense
InterestExpense
|
16000 | ||
| ktra |
Amortization Of Deferred Loan Costs
AmortizationOfDeferredLoanCosts
|
51000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
678000 | ||
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
2784000 | ||
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
676000 | ||
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-362000 | ||
| us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-18000 | ||
| us-gaap |
Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
|
-374000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10177000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-9541000 | ||
| us-gaap |
Cash Acquired From Acquisition
CashAcquiredFromAcquisition
|
969000 | ||
| us-gaap |
Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
|
3000 | ||
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
972000 | ||
| ktra |
Proceeds From Issuance Of Shares And Warrants
ProceedsFromIssuanceOfSharesAndWarrants
|
13634000 | ||
| ktra |
Proceeds From Issuance Of Shares And Warrants
ProceedsFromIssuanceOfSharesAndWarrants
|
21638000 | ||
| us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
74000 | ||
| us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
1180000 | ||
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
21000 | ||
| us-gaap |
Proceeds From Construction Loans Payable
ProceedsFromConstructionLoansPayable
|
500000 | ||
| us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
4000 | ||
| us-gaap |
Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
|
4000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
13704000 | ||
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
23335000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
3527000 | ||
| us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
14766000 | ||
| 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 | |
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:4.54%;white-space:nowrap" valign="top"> <p style="margin-bottom:0pt;margin-top:10pt;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1</span></p></td> <td valign="top"> <p style="margin-bottom:0pt;margin-top:10pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Nature of operations, corporate history, and going concern and management plans</p></td></tr></table></div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Nature of operations</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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></p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;"> </p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 $0.0001 per share (the “Adgero Common Stock”) (other than treasury shares held by Adgero), was converted automatically into 1.5740 shares (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.</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;"> </p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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”.</p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Corporate history</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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></p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">References to the Company refer to the Company and its wholly-owned subsidiaries.</span></p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Going concern and management plans</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:6pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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><span style="Background-color:#FFFFFF;color:#000000;">.</span></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">For the six months ended December 31, 2021, the Company reported a loss of $11,859 and a negative cash flow from operations of $10,177. The Company had an accumulated deficit of $125,550 and had cash and cash equivalents of $14,064 as of December 31, 2021. 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. In the near future, 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 one year from the date of filing of these condensed consolidated interim financial statements.</span></p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">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 secure the necessary financing through the issue of new equity and/or the entering into of strategic partnership arrangements but the </span>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 style="Background-color:#FFFFFF;">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="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;"> </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">These 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
|
-11859000 | ||
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-10177000 | ||
| CY2021Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-125550000 | |
| CY2021Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
14064000 | |
| us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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.</p> | ||
| ktra |
In Progress Research And Development Expense
InProgressResearchAndDevelopmentExpense
|
16094000 | ||
| ktra |
Share Based Compensation Arrangement By Share Based Payment Award Stock Options Vested Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardStockOptionsVestedWeightedAverageExercisePrice
|
1.58 | ||
| us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
|
239000 | ||
| ktra |
Share Based Compensation Arrangement By Share Based Payment Award Stock Options Forfeited Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardStockOptionsForfeitedWeightedAverageExercisePrice
|
1.70 | ||
| CY2021Q4 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
6459000 | |
| 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 | ||
| CY2021Q4 | us-gaap |
Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
|
240000 | |
| us-gaap |
Payments To Employees
PaymentsToEmployees
|
60000 | ||
| CY2020Q2 | ktra |
Milestone Payment Liability
MilestonePaymentLiability
|
182000 | |
| ktra |
Milestone Payment Liability Change In Fair Value Estimate
MilestonePaymentLiabilityChangeInFairValueEstimate
|
-4000 | ||
| CY2021Q4 | ktra |
Milestone Payment Liability
MilestonePaymentLiability
|
178000 | |
| CY2021Q4 | ktra |
Patient Enrollment Milestones Payments
PatientEnrollmentMilestonesPayments
|
1978000 | |
| CY2020Q4 | ktra |
Patient Enrollment Milestones Payments
PatientEnrollmentMilestonesPayments
|
750000 | |
| ktra |
Patient Enrollment Milestones Payments
PatientEnrollmentMilestonesPayments
|
3930000 | ||
| ktra |
Patient Enrollment Milestones Payments
PatientEnrollmentMilestonesPayments
|
1250000 | ||
| ktra |
Deposits Payments
DepositsPayments
|
2600000 | ||
| CY2021Q4 | us-gaap |
Due To Related Parties Current
DueToRelatedPartiesCurrent
|
543000 | |
| 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 (the “Common Stock”), (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 “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%. | ||
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
10089000 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
3630000 | |
| CY2021Q4 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
830000 | |
| CY2020Q4 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2125000 | |
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1641000 | ||
| us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2530000 | ||
| 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
|
3954000 | ||
| 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
|
1116000 | ||
| CY2021Q4 | ktra |
Share Based Compensation Arrangement By Share Based Payment Award Stock Options Unvested Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardStockOptionsUnvestedWeightedAverageExercisePrice
|
1.23 | |
| ktra |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageRemainingContractualTerm
|
P9Y4M9D | ||
| us-gaap |
Dividends Preferred Stock Stock
DividendsPreferredStockStock
|
3181000 | ||
| ktra |
Non Cash Issue Costs
NonCashIssueCosts
|
333000 | ||
| ktra |
Non Cash Issue Costs
NonCashIssueCosts
|
3287000 | ||
| ktra |
Issue Costs In Accounts Payable And Accrued Liabilities
IssueCostsInAccountsPayableAndAccruedLiabilities
|
40000 | ||
| CY2021Q4 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
243000 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageIntrinsicValue
|
1.57 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
|
10 | |
| CY2021Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
19.89 |
