$IMUX
Immunic Inc

2020 Q3 Form 10-Q Financial Statement

#000128077620000024 Filed on August 03, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.510M $2.240M $8.980M
YoY Change 20.67% -75.06% 110.8%
% of Gross Profit
Research & Development $11.04M $9.987M $6.029M
YoY Change 55.45% 65.65% 179.51%
% of Gross Profit
Depreciation & Amortization $43.00K $6.000K $24.00K
YoY Change 377.78% -75.0% -88.0%
% of Gross Profit
Operating Expenses $13.55M $12.22M $15.01M
YoY Change 47.6% -18.56% 462.06%
Operating Profit -$13.55M -$12.22M -$15.01M
YoY Change 47.6% -18.56% 462.06%
Interest Expense $20.00K $0.00 $30.00K
YoY Change -66.67% -100.0% -81.25%
% of Operating Profit
Other Income/Expense, Net $632.0K $764.0K $293.0K
YoY Change -34.3% 160.75%
Pretax Income -$12.91M -$11.46M -$14.71M
YoY Change 57.06% -22.09% 16.01%
Income Tax
% Of Pretax Income
Net Earnings -$12.91M -$11.46M -$14.71M
YoY Change 57.19% -22.13% 451.09%
Net Earnings / Revenue
Basic Earnings Per Share -$0.70 -$0.90
Diluted Earnings Per Share -$0.70 -$0.90 -$1.521M
COMMON SHARES
Basic Shares Outstanding 14.97M shares 12.79M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $133.2M $48.60M $36.10M
YoY Change 336.72% 34.63% 16.08%
Cash & Equivalents $133.2M $48.60M $36.12M
Short-Term Investments
Other Short-Term Assets $597.0K $655.0K $2.500M
YoY Change -85.44% -73.8% 66.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $137.5M $53.02M $39.49M
YoY Change 298.45% 34.26% 20.98%
LONG-TERM ASSETS
Property, Plant & Equipment $147.0K $121.0K $43.00K
YoY Change 234.09% 181.4% -97.91%
Goodwill $32.97M $32.97M $32.97M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $42.00K $42.00K
YoY Change
Total Long-Term Assets $34.10M $34.13M $33.08M
YoY Change 3.06% 3.17% 1434.37%
TOTAL ASSETS
Total Short-Term Assets $137.5M $53.02M $39.49M
Total Long-Term Assets $34.10M $34.13M $33.08M
Total Assets $171.6M $87.15M $72.57M
YoY Change 153.89% 20.09% 108.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.419M $1.728M $1.462M
YoY Change -8.04% 18.19% 36.0%
Accrued Expenses $4.253M $5.450M $1.586M
YoY Change 31.43% 243.63% -77.93%
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 $8.030M $7.674M $3.122M
YoY Change 14.13% 145.8% -62.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $700.0K $800.0K $41.00K
YoY Change 1607.32% 1851.22%
Total Long-Term Liabilities $735.0K $793.0K $41.00K
YoY Change 1692.68% 1834.15% -16.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.030M $7.674M $3.122M
Total Long-Term Liabilities $735.0K $793.0K $41.00K
Total Liabilities $8.765M $8.467M $3.163M
YoY Change 23.85% 167.69% -62.11%
SHAREHOLDERS EQUITY
Retained Earnings -$92.80M -$79.90M -$44.01M
YoY Change 78.46% 81.57% -86.38%
Common Stock $2.000K $1.000K $1.500M
YoY Change 100.0% -99.93% 37400.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $162.9M $78.69M $69.41M
YoY Change
Total Liabilities & Shareholders Equity $171.6M $87.15M $72.57M
YoY Change 153.89% 20.09% 108.54%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$12.91M -$11.46M -$14.71M
YoY Change 57.19% -22.13% 451.09%
Depreciation, Depletion And Amortization $43.00K $6.000K $24.00K
YoY Change 377.78% -75.0% -88.0%
Cash From Operating Activities -$11.90M -$9.230M -$10.98M
YoY Change 99.0% -15.94% -11.17%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$60.00K -$10.00K
YoY Change 500.0% 500.0% -94.44%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $9.340M
YoY Change -100.0% -100.0%
Cash From Investing Activities -$60.00K -$60.00K $9.330M
YoY Change -104.84% -100.64% -5283.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 96.54M 39.21M 9.440M
YoY Change 43781.82% 315.36% 94300.0%
NET CHANGE
Cash From Operating Activities -11.90M -9.230M -10.98M
Cash From Investing Activities -60.00K -60.00K 9.330M
Cash From Financing Activities 96.54M 39.21M 9.440M
Net Change In Cash 84.58M 29.92M 7.790M
YoY Change -1971.24% 284.08% -162.17%
FREE CASH FLOW
Cash From Operating Activities -$11.90M -$9.230M -$10.98M
Capital Expenditures -$60.00K -$60.00K -$10.00K
Free Cash Flow -$11.84M -$9.170M -$10.97M
YoY Change 98.32% -16.41% -9.93%

Facts In Submission

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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-227000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
64000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
29965000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19238000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
23049000 USD
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13072000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
48607000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
36121000 USD
us-gaap Interest Paid Net
InterestPaidNet
0 USD
us-gaap Interest Paid Net
InterestPaidNet
34000 USD
vtl Deferred Stock Issuance Costs Included In Liabilities
DeferredStockIssuanceCostsIncludedInLiabilities
0 USD
vtl Deferred Stock Issuance Costs Included In Liabilities
DeferredStockIssuanceCostsIncludedInLiabilities
920000 USD
us-gaap Conversion Of Stock Amount Converted1
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0 USD
us-gaap Conversion Of Stock Amount Converted1
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37193000 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
0 USD
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
39400000 USD
vtl Offering Costs Included In Accrued Expenses
OfferingCostsIncludedInAccruedExpenses
75000 USD
vtl Offering Costs Included In Accrued Expenses
OfferingCostsIncludedInAccruedExpenses
0 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
112100000 USD
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-79900000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-59900000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
48600000 USD
us-gaap Use Of Estimates
UseOfEstimates
<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',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Use of Estimates</span></div><div style="text-indent:22.5pt;text-align:justify;margin-top:12pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The preparation of financial statements in conformity with U.S. 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 and share-based compensation. Management believes its estimates to be reasonable under the circumstances. Actual results could differ materially from those estimates and assumptions.</span></div>
CY2020Q2 us-gaap Depreciation
Depreciation
6000 USD
CY2019Q2 us-gaap Depreciation
Depreciation
24000 USD
us-gaap Depreciation
Depreciation
20000 USD
us-gaap Depreciation
Depreciation
29000 USD
CY2019Q2 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2020Q2 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2020Q2 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
3 lease
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q2 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
3 lease
CY2019 vtl Business Combination Separately Recognized Transactions Additional Disclosures Acquisition Cost Expensed Non Cash Charges
BusinessCombinationSeparatelyRecognizedTransactionsAdditionalDisclosuresAcquisitionCostExpensedNonCashCharges
7500000 USD
CY2020Q2 vtl Prepaid Clinical And Related Costs Current
PrepaidClinicalAndRelatedCostsCurrent
2073000 USD
CY2019Q4 vtl Prepaid Clinical And Related Costs Current
PrepaidClinicalAndRelatedCostsCurrent
1307000 USD
CY2020Q2 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
326000 USD
CY2019Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
343000 USD
CY2019Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
408000 USD
CY2020Q2 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
757000 USD
CY2019Q4 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
350000 USD
CY2020Q2 vtl Prepaid Insurance Current
PrepaidInsuranceCurrent
605000 USD
CY2019Q4 vtl Prepaid Insurance Current
PrepaidInsuranceCurrent
179000 USD
CY2020Q2 us-gaap Other Assets Current
OtherAssetsCurrent
655000 USD
CY2020Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
617000 USD
CY2020Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4416000 USD
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2861000 USD
CY2020Q2 vtl Clinical Costs Payable Current
ClinicalCostsPayableCurrent
1548000 USD
CY2019Q4 vtl Clinical Costs Payable Current
ClinicalCostsPayableCurrent
1981000 USD
CY2020Q2 vtl Legal And Audit Costs Payable Current
LegalAndAuditCostsPayableCurrent
48000 USD
CY2019Q4 vtl Legal And Audit Costs Payable Current
LegalAndAuditCostsPayableCurrent
226000 USD
CY2020Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
132000 USD
CY2019Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
216000 USD
CY2020Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
1728000 USD
CY2019Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
2423000 USD
CY2020Q2 vtl Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
4889000 USD
CY2019Q4 vtl Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
2863000 USD
CY2020Q2 vtl Accrued Legal And Audit Costs Current
AccruedLegalAndAuditCostsCurrent
75000 USD
CY2019Q4 vtl Accrued Legal And Audit Costs Current
AccruedLegalAndAuditCostsCurrent
211000 USD
CY2020Q2 vtl Accrued Compensation Current
AccruedCompensationCurrent
224000 USD
CY2019Q4 vtl Accrued Compensation Current
AccruedCompensationCurrent
0 USD
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
262000 USD
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
224000 USD
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5450000 USD
CY2019Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3298000 USD
CY2020Q2 us-gaap Deferred Income Current
DeferredIncomeCurrent
135000 USD
CY2019Q4 us-gaap Deferred Income Current
DeferredIncomeCurrent
1008000 USD
CY2020Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
361000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M14D
CY2020Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
496000 USD
CY2020Q2 vtl Operating Lease Incremental Borrowing Rate
OperatingLeaseIncrementalBorrowingRate
0.06
CY2019Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1351000 USD
CY2020Q2 vtl Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
427000 USD
vtl Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
427000 USD
CY2020Q2 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
80000 USD
CY2019Q2 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
43000 USD
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
159000 USD
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
55000 USD
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
183000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
337000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
337000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
188000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
113000 USD
CY2020Q2 vtl Lessee Operating Lease Liability Payments Due Year Six
LesseeOperatingLeaseLiabilityPaymentsDueYearSix
56000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1214000 USD
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
130000 USD
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
1084000 USD
CY2020Q2 us-gaap Contractual Obligation
ContractualObligation
1300000 USD
CY2016Q2 vtl Asset Purchase Agreement Royalties As Percent Of Aggregated Net Sales
AssetPurchaseAgreementRoyaltiesAsPercentOfAggregatedNetSales
0.044
CY2019Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
120070 shares
CY2019Q2 us-gaap Common Stock Value
CommonStockValue
1500000 USD
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
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
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
130000000 shares
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2019Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
156920 shares
CY2019Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2019Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2020Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2052598 shares
CY2020Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2100000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1500000 USD

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