$IMUX
Immunic Inc

2019 Q4 Form 10-Q Financial Statement

#000128077619000056 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 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 $2.160M $2.080M $2.530M
YoY Change -14.62% -15.45% -44.88%
% of Gross Profit
Research & Development $6.030M $7.102M $150.0K
YoY Change 3920.0% 403.69% -98.53%
% of Gross Profit
Depreciation & Amortization $10.00K $9.000K $100.0K
YoY Change -90.0% -95.59% -54.55%
% of Gross Profit
Operating Expenses $8.186M $9.177M $5.234M
YoY Change 56.4% 408.42% -64.59%
Operating Profit -$9.177M
YoY Change 408.42%
Interest Expense $20.00K $60.00K $80.00K
YoY Change -75.0% -45.45% -60.0%
% of Operating Profit
Other Income/Expense, Net $480.0K $962.0K $10.00K
YoY Change 4700.0% 11925.0% -200.0%
Pretax Income -$7.690M -$8.220M -$2.460M
YoY Change 212.6% -31.16% -83.14%
Income Tax
% Of Pretax Income
Net Earnings -$7.691M -$8.215M -$4.812M
YoY Change 59.83% 357.15% -67.01%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$750.2K -$820.4K -$2.321M
COMMON SHARES
Basic Shares Outstanding 10.12M shares 10.09M shares 42.37M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.40M $30.50M $13.30M
YoY Change 121.05% 71.35% -76.63%
Cash & Equivalents $29.37M $30.50M $13.07M
Short-Term Investments
Other Short-Term Assets $796.0K $4.100M $68.00K
YoY Change 1070.59% 215.38% -94.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $32.23M $34.52M $13.33M
YoY Change 141.77% 81.1% -77.06%
LONG-TERM ASSETS
Property, Plant & Equipment $80.00K $44.00K $40.00K
YoY Change 100.0% -95.06% -98.14%
Goodwill $32.97M $32.97M $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $42.00K $0.00
YoY Change -100.0%
Total Long-Term Assets $33.73M $33.09M $40.00K
YoY Change 84212.5% 3469.04% -98.23%
TOTAL ASSETS
Total Short-Term Assets $32.23M $34.52M $13.33M
Total Long-Term Assets $33.73M $33.09M $40.00K
Total Assets $65.96M $67.60M $13.37M
YoY Change 393.27% 238.22% -77.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.423M $3.718M $1.400M
YoY Change 73.07% 228.74% 33.46%
Accrued Expenses $3.298M $3.236M $416.0K
YoY Change 692.79% -28.91% -95.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.072M $7.036M $1.920M
YoY Change 268.33% 23.63% -81.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $500.0K $41.00K $0.00
YoY Change -100.0%
Total Long-Term Liabilities $520.0K $41.00K $0.00
YoY Change -8.89% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.072M $7.036M $1.920M
Total Long-Term Liabilities $520.0K $41.00K $0.00
Total Liabilities $7.592M $7.077M $1.920M
YoY Change 295.42% 23.38% -81.43%
SHAREHOLDERS EQUITY
Retained Earnings -$59.90M -$52.00M -$25.00M
YoY Change 139.6% -84.48% -91.55%
Common Stock $1.000K $1.000K $0.00
YoY Change -75.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $58.36M $60.53M -$25.74M
YoY Change
Total Liabilities & Shareholders Equity $65.96M $67.60M $13.37M
YoY Change 393.27% 238.22% -77.86%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income -$7.691M -$8.215M -$4.812M
YoY Change 59.83% 357.15% -67.01%
Depreciation, Depletion And Amortization $10.00K $9.000K $100.0K
YoY Change -90.0% -95.59% -54.55%
Cash From Operating Activities -$6.270M -$5.980M -$4.660M
YoY Change 34.55% -54.28% -53.02%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$10.00K $0.00
YoY Change -96.3% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.250M $180.0K
YoY Change -100.0%
Cash From Investing Activities -$20.00K $1.240M $180.0K
YoY Change -111.11% -559.26% -263.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.710M 220.0K 0.000
YoY Change 1000.0% -100.0%
NET CHANGE
Cash From Operating Activities -6.270M -5.980M -4.660M
Cash From Investing Activities -20.00K 1.240M 180.0K
Cash From Financing Activities 4.710M 220.0K 0.000
Net Change In Cash -1.580M -4.520M -4.480M
YoY Change -64.73% -66.09% -52.79%
FREE CASH FLOW
Cash From Operating Activities -$6.270M -$5.980M -$4.660M
Capital Expenditures -$30.00K -$10.00K $0.00
Free Cash Flow -$6.240M -$5.970M -$4.660M
YoY Change 33.91% -53.4% -52.45%

Facts In Submission

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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12564000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1081000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-743000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17388000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5516000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13072000 USD
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4504000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30460000 USD
CY2018Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10020000 USD
us-gaap Interest Paid Net
InterestPaidNet
2000 USD
us-gaap Interest Paid Net
InterestPaidNet
1000 USD
vtl Deferred Stock Issuance Costs Included In Liabilities
DeferredStockIssuanceCostsIncludedInLiabilities
140000 USD
vtl Deferred Stock Issuance Costs Included In Liabilities
DeferredStockIssuanceCostsIncludedInLiabilities
0 USD
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
37193000 USD
us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
0 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
39400000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
0 USD
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-52000000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-25000000 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
67500000 USD
CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
30500000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-indent:22.5pt;margin-top:18pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Use of Estimates</span></div><div style="text-indent:22.5pt;margin-top:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The preparation of financial statements in conformity with US GAAP requires the Company to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, expenses and the disclosure of contingent assets and liabilities in the Company’s consolidated financial statements. The most significant estimates in the Company’s financial statements and accompanying notes relate to the application of the acquisition method of accounting related to the Transaction, clinical trial expenses, share-based compensation and notes related to contractual obligations. Management believes its estimates to be reasonable under the circumstances. Actual results could differ materially from those estimates and assumptions.</span></div>
CY2019Q3 us-gaap Depreciation
Depreciation
9000 USD
CY2018Q3 us-gaap Depreciation
Depreciation
3000 USD
us-gaap Depreciation
Depreciation
38000 USD
us-gaap Depreciation
Depreciation
10000 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2019Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2018Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2019Q1 vtl Operating Lease Incremental Borrowing Rate
OperatingLeaseIncrementalBorrowingRate
0.06
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
0 USD
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
0 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-27604000 USD
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-31689000 USD
CY2019Q3 vtl Accrued Clinical Costs
AccruedClinicalCosts
2369000 USD
CY2018Q4 vtl Accrued Clinical Costs
AccruedClinicalCosts
210000 USD
CY2019Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
335000 USD
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
0 USD
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
532000 USD
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
206000 USD
CY2019Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3236000 USD
CY2018Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
416000 USD
CY2019Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
120070 shares
CY2019Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P2Y
CY2019Q3 vtl Operating Lease Incremental Borrowing Rate
OperatingLeaseIncrementalBorrowingRate
0.06
CY2019Q3 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
23000 USD
CY2018Q3 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
9000 USD
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
78000 USD
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
28000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
8000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
34000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
34000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
76000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
5000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
71000 USD
CY2019Q3 us-gaap Contractual Obligation
ContractualObligation
557000 USD
CY2016Q2 vtl Asset Purchase Agreement Royalties As Percent Of Aggregated Net Sales
AssetPurchaseAgreementRoyaltiesAsPercentOfAggregatedNetSales
0.044
CY2019Q2 us-gaap Common Stock Value
CommonStockValue
1500000 USD
CY2018Q2 vtl Maximum Aggregate Offering Priceof Securities Under Shelf Registration
MaximumAggregateOfferingPriceofSecuritiesUnderShelfRegistration
200000000.0 USD
CY2018Q2 vtl Maximum Number Of Common Shares That Can Be Sold Under Shelf Registration Statement By Selling Shareholders
MaximumNumberOfCommonSharesThatCanBeSoldUnderShelfRegistrationStatementBySellingShareholders
2500000 shares
CY2018Q2 vtl Maximum Amount Of Common Stock That Can Be Issued Under At The Market Sales Agreement
MaximumAmountOfCommonStockThatCanBeIssuedUnderAtTheMarketSalesAgreement
60000000.0 USD
CY2019Q3 vtl Maximum Aggregate Offering Priceof Securities Under Shelf Registration
MaximumAggregateOfferingPriceofSecuritiesUnderShelfRegistration
40000000.0 USD
vtl Shelf Registration Agreement Commission Percent Of Gross Proceeds On Sale Of Common Stock
ShelfRegistrationAgreementCommissionPercentOfGrossProceedsOnSaleOfCommonStock
0.030
CY2018Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
846953 shares
CY2018Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2016Q1 us-gaap Common Stock Value
CommonStockValue
56000 USD
CY2019Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
130000000 shares
CY2019Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2018 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2018 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2019Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3719.60
CY2019Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1672483 shares
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
3100000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y3M29D

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