$IMUX
Immunic Inc

2014 Q3 Form 10-Q Financial Statement

#000119312514298850 Filed on August 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q3 2014 Q2 2013 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $0.00
YoY Change
Gross Profit $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $2.570M $2.510M $2.530M
YoY Change -14.33% -0.79% 181.11%
% of Gross Profit
Research & Development $10.24M $9.125M $4.538M
YoY Change 66.22% 101.08% 530.28%
% of Gross Profit
Depreciation & Amortization $310.0K $246.0K $174.0K
YoY Change 21.09% 41.38% -20.91%
% of Gross Profit
Operating Expenses $12.81M $11.64M $7.063M
YoY Change 39.77% 64.77% 335.99%
Operating Profit -$12.81M -$11.64M -$7.063M
YoY Change 39.77% 64.77% 335.99%
Interest Expense $10.00K $10.00K $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net $12.00K $1.471M $919.0K
YoY Change -99.45% 60.07%
Pretax Income -$12.80M -$10.17M -$6.140M
YoY Change 83.38% 65.64% 259.06%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$12.80M -$10.17M -$6.144M
YoY Change 83.43% 65.48% 259.3%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$23.70M -$28.25M -$11.58M
COMMON SHARES
Basic Shares Outstanding 21.79M shares 21.79M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q3 2014 Q2 2013 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.10M $90.80M $41.40M
YoY Change 153.53% 119.32%
Cash & Equivalents $79.09M $90.84M $36.44M
Short-Term Investments $5.000M
Other Short-Term Assets $3.500M $2.600M $2.300M
YoY Change -16.67% 13.04%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $82.58M $93.49M $43.80M
YoY Change 133.29% 113.45%
LONG-TERM ASSETS
Property, Plant & Equipment $2.985M $3.264M $1.800M
YoY Change 24.38% 81.33%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $263.0K $263.0K $200.0K
YoY Change 31.5% 31.5%
Total Long-Term Assets $3.248M $3.527M $2.000M
YoY Change 24.92% 76.35%
TOTAL ASSETS
Total Short-Term Assets $82.58M $93.49M $43.80M
Total Long-Term Assets $3.248M $3.527M $2.000M
Total Assets $85.83M $97.02M $45.80M
YoY Change 125.87% 111.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $696.0K $1.461M $2.600M
YoY Change -59.06% -43.81%
Accrued Expenses $7.530M $5.806M $1.900M
YoY Change 128.18% 205.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $8.498M $7.561M $9.100M
YoY Change 11.82% -16.91%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $283.0K $292.0K $0.00
YoY Change -29.25%
Total Long-Term Liabilities $283.0K $292.0K $0.00
YoY Change -29.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.498M $7.561M $9.100M
Total Long-Term Liabilities $283.0K $292.0K $0.00
Total Liabilities $8.781M $7.853M $9.100M
YoY Change 9.76% -13.7%
SHAREHOLDERS EQUITY
Retained Earnings -$136.9M -$124.1M
YoY Change
Common Stock $2.000K $2.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $77.05M $89.16M $36.60M
YoY Change
Total Liabilities & Shareholders Equity $85.83M $97.02M $45.80M
YoY Change 125.87% 111.83%

Cashflow Statement

Concept 2014 Q3 2014 Q2 2013 Q2
OPERATING ACTIVITIES
Net Income -$12.80M -$10.17M -$6.144M
YoY Change 83.43% 65.48% 259.3%
Depreciation, Depletion And Amortization $310.0K $246.0K $174.0K
YoY Change 21.09% 41.38% -20.91%
Cash From Operating Activities -$11.19M -$9.880M -$5.850M
YoY Change 38.15% 68.89% 128.52%
INVESTING ACTIVITIES
Capital Expenditures -$320.0K -$240.0K -$440.0K
YoY Change -48.39% -45.45% 780.0%
Acquisitions
YoY Change
Other Investing Activities -$220.0K -$230.0K $4.670M
YoY Change -104.49% -104.93% -46800.0%
Cash From Investing Activities -$540.0K -$470.0K $4.240M
YoY Change -112.65% -111.08% -7166.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -10.00K 55.14M 31.90M
YoY Change -99.31% 72.85% 755.23%
NET CHANGE
Cash From Operating Activities -11.19M -9.880M -5.850M
Cash From Investing Activities -540.0K -470.0K 4.240M
Cash From Financing Activities -10.00K 55.14M 31.90M
Net Change In Cash -11.74M 44.79M 30.29M
YoY Change 122.35% 47.87% 2628.83%
FREE CASH FLOW
Cash From Operating Activities -$11.19M -$9.880M -$5.850M
Capital Expenditures -$320.0K -$240.0K -$440.0K
Free Cash Flow -$10.87M -$9.640M -$5.410M
YoY Change 45.32% 78.19% 115.54%

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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
271000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
0
us-gaap Profit Loss
ProfitLoss
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
215000
us-gaap Operating Income Loss
OperatingIncomeLoss
-23515000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-20916000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2600000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1045000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
52000
us-gaap Net Income Loss
NetIncomeLoss
-30069000
us-gaap Investment Income Interest
InvestmentIncomeInterest
7000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
294000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
543000
us-gaap Operating Expenses
OperatingExpenses
23515000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
18167000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
0
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18345000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
52654000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
393000
us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
4410000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
73213000
us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
4744000
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
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us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2552000
vtl Release Of Repurchase Liability For Stock Options Shares Vested During Period
ReleaseOfRepurchaseLiabilityForStockOptionsSharesVestedDuringPeriod
52000
vtl Gain Loss On Revaluation Of Future Purchase Rights Liabilities
GainLossOnRevaluationOfFuturePurchaseRightsLiabilities
2600000
vtl Deemed Dividends
DeemedDividends
905000
vtl Operating Lease Agreements Expiration Year
OperatingLeaseAgreementsExpirationYear
2017
vtl Beneficial Conversion Value For Preferred Stock
BeneficialConversionValueForPreferredStock
0
vtl Fair Value Assets Between Hierarchy Levels Transfers Amount
FairValueAssetsBetweenHierarchyLevelsTransfersAmount
0
vtl Deferred Financing Costs Included In Liabilities
DeferredFinancingCostsIncludedInLiabilities
0
vtl Value Of Rights Of Possible Future Issuances
ValueOfRightsOfPossibleFutureIssuances
0
vtl Proceeds From Stock Options Early Exercised
ProceedsFromStockOptionsEarlyExercised
0
CY2013 us-gaap Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
P2Y29D
CY2013 us-gaap Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
0.850 pure
CY2013 us-gaap Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
0.000 pure
CY2013 us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.0038 pure
CY2013 vtl Fair Value Assumptions Number Of Nodes
FairValueAssumptionsNumberOfNodes
25 Nodes
CY2013 vtl Preferred Stock Fair Value Per Share
PreferredStockFairValuePerShare
8.00
CY2013 vtl Common Stock Fair Value Per Share
CommonStockFairValuePerShare
5.93
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
507055 shares
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2013Q2 us-gaap Profit Loss
ProfitLoss
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CY2013Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2013Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
3000
CY2013Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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CY2013Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2013Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
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CY2013Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
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CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
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CY2013Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2013Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
149000
CY2013Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
1115000
CY2013Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
8000
CY2013Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2013Q2 vtl Gain Loss On Revaluation Of Future Purchase Rights Liabilities
GainLossOnRevaluationOfFuturePurchaseRightsLiabilities
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CY2013Q2 vtl Deemed Dividends
DeemedDividends
8000
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17888171 shares
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.91
CY2014Q2 us-gaap Profit Loss
ProfitLoss
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CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2014Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-10167000
CY2014Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
0
CY2014Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1471000
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2014Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
4000
CY2014Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
246000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
11638000
CY2014Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2014Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
210000
CY2014Q2 us-gaap Temporary Equity Accretion To Redemption Value Adjustment
TemporaryEquityAccretionToRedemptionValueAdjustment
1362000
CY2014Q2 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
4722000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2513000
CY2014Q2 vtl Gain Loss On Revaluation Of Future Purchase Rights Liabilities
GainLossOnRevaluationOfFuturePurchaseRightsLiabilities
1472000
CY2014Q2 vtl Deemed Dividends
DeemedDividends
883000

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