$IMUX
Immunic Inc

2021 Q1 Form 10-Q Financial Statement

#000128077621000013 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $20.87M $2.580M
YoY Change 708.91% 96.95%
% of Gross Profit
Research & Development $11.52M $6.434M
YoY Change 79.03% 91.77%
% of Gross Profit
Depreciation & Amortization $14.00K $14.00K
YoY Change 0.0% 180.0%
% of Gross Profit
Operating Expenses $32.39M $9.014M
YoY Change 259.3% 93.35%
Operating Profit -$32.39M -$9.014M
YoY Change 259.3% 93.35%
Interest Expense $30.00K $20.00K
YoY Change 50.0%
% of Operating Profit
Other Income/Expense, Net -$2.147M $527.0K
YoY Change -507.4% 51.0%
Pretax Income -$34.53M -$8.490M
YoY Change 306.71% 96.98%
Income Tax
% Of Pretax Income
Net Earnings -$34.53M -$8.487M
YoY Change 306.9% 96.78%
Net Earnings / Revenue
Basic Earnings Per Share -$1.63 -$0.79
Diluted Earnings Per Share -$1.63 -$0.79
COMMON SHARES
Basic Shares Outstanding 21.17M shares 10.74M shares
Diluted Shares Outstanding 21.17M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $114.8M $18.60M
YoY Change 517.2% 93.75%
Cash & Equivalents $114.8M $18.60M
Short-Term Investments
Other Short-Term Assets $886.0K $670.0K
YoY Change 32.24% 67.5%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $120.3M $23.60M
YoY Change 409.68% 136.27%
LONG-TERM ASSETS
Property, Plant & Equipment $190.0K $77.00K
YoY Change 146.75% -84.02%
Goodwill $32.97M $32.97M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $42.00K $42.00K
YoY Change 0.0% 250.0%
Total Long-Term Assets $34.44M $33.69M
YoY Change 2.23% 6720.45%
TOTAL ASSETS
Total Short-Term Assets $120.3M $23.60M
Total Long-Term Assets $34.44M $33.69M
Total Assets $154.7M $57.29M
YoY Change 170.06% 446.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.05M $1.432M
YoY Change 601.68% 678.26%
Accrued Expenses $5.827M $3.963M
YoY Change 47.04% 226.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.36M $6.333M
YoY Change 158.27% 341.94%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $900.0K $500.0K
YoY Change 80.0%
Total Long-Term Liabilities $922.0K $471.0K
YoY Change 95.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.36M $6.333M
Total Long-Term Liabilities $922.0K $471.0K
Total Liabilities $17.28M $6.804M
YoY Change 153.94% 374.81%
SHAREHOLDERS EQUITY
Retained Earnings -$138.5M -$68.40M
YoY Change 102.49% -80.28%
Common Stock $2.000K $1.000K
YoY Change 100.0% -75.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $137.4M $50.49M
YoY Change
Total Liabilities & Shareholders Equity $154.7M $57.29M
YoY Change 170.06% 446.58%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$34.53M -$8.487M
YoY Change 306.9% 96.78%
Depreciation, Depletion And Amortization $14.00K $14.00K
YoY Change 0.0% 180.0%
Cash From Operating Activities -$12.95M -$11.03M
YoY Change 17.4% 107.43%
INVESTING ACTIVITIES
Capital Expenditures $10.00K $4.000K
YoY Change 150.0% -42.86%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$10.00K -$4.000K
YoY Change 150.0% -42.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $0.00 $568.0K
YoY Change -100.0% -97.23%
NET CHANGE
Cash From Operating Activities -$12.95M -$11.03M
Cash From Investing Activities -$10.00K -$4.000K
Cash From Financing Activities $0.00 $568.0K
Net Change In Cash -$12.61M -$10.79M
YoY Change 16.88% -172.2%
FREE CASH FLOW
Cash From Operating Activities -$12.95M -$11.03M
Capital Expenditures $10.00K $4.000K
Free Cash Flow -$12.96M -$11.03M
YoY Change 17.45% 107.23%

Facts In Submission

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<div style="margin-top:12pt;text-indent:22.5pt"><span style="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="margin-top:12pt;text-align:justify;text-indent:22.5pt"><span style="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>
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TangibleAssetImpairmentCharges
0 USD
CY2021Q1 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
2 lease
CY2021Q1 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
2 lease
CY2021Q1 vtl Prepaid Clinical And Related Costs Current
PrepaidClinicalAndRelatedCostsCurrent
2557000 USD
CY2020Q4 vtl Prepaid Clinical And Related Costs Current
PrepaidClinicalAndRelatedCostsCurrent
3416000 USD
CY2021Q1 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
303000 USD
CY2020Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
295000 USD
CY2021Q1 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
1695000 USD
CY2020Q4 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
1348000 USD
CY2021Q1 us-gaap Other Assets Current
OtherAssetsCurrent
886000 USD
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1234000 USD
CY2021Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5441000 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6293000 USD
CY2021Q1 vtl Clinical Costs Payable Current
ClinicalCostsPayableCurrent
1276000 USD
CY2020Q4 vtl Clinical Costs Payable Current
ClinicalCostsPayableCurrent
3408000 USD
CY2021Q1 vtl Legal And Audit Costs Payable Current
LegalAndAuditCostsPayableCurrent
33000 USD
CY2020Q4 vtl Legal And Audit Costs Payable Current
LegalAndAuditCostsPayableCurrent
139000 USD
CY2021Q1 vtl Royalty Settlement Current
RoyaltySettlementCurrent
8625000 USD
CY2020Q4 vtl Royalty Settlement Current
RoyaltySettlementCurrent
0 USD
CY2021Q1 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
114000 USD
CY2020Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
153000 USD
CY2021Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
10048000 USD
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3700000 USD
CY2021Q1 vtl Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
5365000 USD
CY2020Q4 vtl Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
3301000 USD
CY2021Q1 vtl Accrued Legal And Audit Costs Current
AccruedLegalAndAuditCostsCurrent
82000 USD
CY2020Q4 vtl Accrued Legal And Audit Costs Current
AccruedLegalAndAuditCostsCurrent
114000 USD
CY2021Q1 vtl Accrued Compensation Current
AccruedCompensationCurrent
208000 USD
CY2020Q4 vtl Accrued Compensation Current
AccruedCompensationCurrent
658000 USD
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
172000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
245000 USD
CY2021Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5827000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4318000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
388000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
297000 USD
CY2021Q1 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
93000 USD
CY2020Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
82000 USD
CY2021Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
481000 USD
CY2021Q1 us-gaap Contractual Obligation
ContractualObligation
500000 USD
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
379000 USD
CY2020 vtl Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
427000 USD
CY2021Q1 vtl Increase Decrease In Operating Lease Right Of Use Asset
IncreaseDecreaseInOperatingLeaseRightOfUseAsset
435000 USD
CY2021Q1 vtl Operating Lease Incremental Borrowing Rate
OperatingLeaseIncrementalBorrowingRate
0.06
CY2021Q1 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
94000 USD
CY2020Q1 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
79000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
350000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
467000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
317000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
243000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
121000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1498000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
153000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1345000 USD
CY2019Q2 us-gaap Common Stock Value
CommonStockValue
1500000 USD
CY2018Q2 vtl Maximum Aggregate Offering Priceof Securities Under Shelf Registration
MaximumAggregateOfferingPriceofSecuritiesUnderShelfRegistration
200000000.0 USD
CY2020Q4 vtl Maximum Number Of Common Shares That Can Be Sold Under Shelf Registration Statement By Selling Shareholders
MaximumNumberOfCommonSharesThatCanBeSoldUnderShelfRegistrationStatementBySellingShareholders
250000000.0 shares
CY2021Q1 vtl Shelf Registration Agreement Commission Percent Of Gross Proceeds On Sale Of Common Stock
ShelfRegistrationAgreementCommissionPercentOfGrossProceedsOnSaleOfCommonStock
0.030
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
130000000 shares
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
CY2021Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2021Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2929611 shares
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
12600000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y3M21D
CY2020Q4 vtl Line Of Credit Facility Number Of Tranches
LineOfCreditFacilityNumberOfTranches
3 tranche
CY2020Q4 vtl Line Of Credit Facility Tranche Payment Deferral Term
LineOfCreditFacilityTranchePaymentDeferralTerm
P5Y
CY2020Q4 vtl Line Of Credit Facility Tranche Payment Deferral Term
LineOfCreditFacilityTranchePaymentDeferralTerm
P5Y

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