$IMUX
Immunic Inc

2021 Q4 Form 10-Q Financial Statement

#000128077621000023 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.343M $2.907M $2.510M
YoY Change 11.06% 15.82% 20.67%
% of Gross Profit
Research & Development $18.38M $15.48M $11.04M
YoY Change 64.38% 40.22% 55.45%
% of Gross Profit
Depreciation & Amortization $40.00K $16.00K $43.00K
YoY Change -300.0% -62.79% 377.78%
% of Gross Profit
Operating Expenses $21.72M $18.39M $13.55M
YoY Change 53.07% 35.75% 47.6%
Operating Profit -$18.39M -$13.55M
YoY Change 35.75% 47.6%
Interest Expense $15.00K $10.00K $20.00K
YoY Change 50.0% -50.0% -66.67%
% of Operating Profit
Other Income/Expense, Net $521.0K -$905.0K $632.0K
YoY Change -82.75% -243.2% -34.3%
Pretax Income -$21.19M -$19.29M -$12.91M
YoY Change 89.83% 49.43% 57.06%
Income Tax
% Of Pretax Income
Net Earnings -$21.19M -$19.29M -$12.91M
YoY Change 89.85% 49.4% 57.19%
Net Earnings / Revenue
Basic Earnings Per Share -$0.81 -$0.76 -$0.70
Diluted Earnings Per Share -$0.81 -$0.76 -$0.70
COMMON SHARES
Basic Shares Outstanding 26.25M shares 26.25M shares 14.97M shares
Diluted Shares Outstanding 25.32M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $86.86M $110.4M $133.2M
YoY Change -31.87% -17.08% 336.72%
Cash & Equivalents $86.86M $110.4M $133.2M
Short-Term Investments
Other Short-Term Assets $1.122M $1.275M $597.0K
YoY Change -9.08% 113.57% -85.44%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $105.0M $122.5M $137.5M
YoY Change -21.5% -10.94% 298.45%
LONG-TERM ASSETS
Property, Plant & Equipment $152.0K $196.0K $147.0K
YoY Change -25.12% 33.33% 234.09%
Goodwill $32.97M $32.97M $32.97M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $42.00K $42.00K $42.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $34.11M $34.26M $34.10M
YoY Change -0.01% 0.48% 3.06%
TOTAL ASSETS
Total Short-Term Assets $105.0M $122.5M $137.5M
Total Long-Term Assets $34.11M $34.26M $34.10M
Total Assets $139.1M $156.8M $171.6M
YoY Change -17.13% -8.67% 153.89%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.745M $3.241M $3.419M
YoY Change 1.22% -5.21% -8.04%
Accrued Expenses $7.071M $6.771M $4.253M
YoY Change 63.76% 59.21% 31.43%
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 $11.40M $10.59M $8.030M
YoY Change 35.77% 31.89% 14.13%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $584.0K $701.0K $700.0K
YoY Change -16.57% 0.14% 1607.32%
Total Long-Term Liabilities $584.0K $701.0K $735.0K
YoY Change -13.99% -4.63% 1692.68%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.40M $10.59M $8.030M
Total Long-Term Liabilities $584.0K $701.0K $735.0K
Total Liabilities $11.99M $11.29M $8.765M
YoY Change 32.05% 28.83% 23.85%
SHAREHOLDERS EQUITY
Retained Earnings -$196.9M -$175.7M -$92.80M
YoY Change 89.51% 89.33% 78.46%
Common Stock $3.000K $3.000K $2.000K
YoY Change 50.0% 50.0% 100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $127.1M $145.5M $162.9M
YoY Change
Total Liabilities & Shareholders Equity $139.1M $156.8M $171.6M
YoY Change -17.13% -8.67% 153.89%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$21.19M -$19.29M -$12.91M
YoY Change 89.85% 49.4% 57.19%
Depreciation, Depletion And Amortization $40.00K $16.00K $43.00K
YoY Change -300.0% -62.79% 377.78%
Cash From Operating Activities -$23.68M -$17.60M -$11.90M
YoY Change 69.63% 47.89% 99.0%
INVESTING ACTIVITIES
Capital Expenditures -$19.00K -$20.00K -$60.00K
YoY Change -36.67% -66.67% 500.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$19.00K -$20.00K -$60.00K
YoY Change -36.67% -66.67% -104.84%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 821.0K 42.02M 96.54M
YoY Change -89.88% -56.47% 43781.82%
NET CHANGE
Cash From Operating Activities -23.68M -17.60M -11.90M
Cash From Investing Activities -19.00K -20.00K -60.00K
Cash From Financing Activities 821.0K 42.02M 96.54M
Net Change In Cash -22.88M 24.40M 84.58M
YoY Change 289.1% -71.15% -1971.24%
FREE CASH FLOW
Cash From Operating Activities -$23.68M -$17.60M -$11.90M
Capital Expenditures -$19.00K -$20.00K -$60.00K
Free Cash Flow -$23.66M -$17.58M -$11.84M
YoY Change 69.86% 48.47% 98.32%

Facts In Submission

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Immunic, Inc.
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NetCashProvidedByUsedInInvestingActivities
-48000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-122000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
42020000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
136320000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
572000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-223000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-17008000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
103814000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
127452000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
29369000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
110444000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
133183000 USD
us-gaap Stock Issued1
StockIssued1
8625000 USD
us-gaap Stock Issued1
StockIssued1
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
435000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
vtl Offering Costs Included In Accrued Expenses
OfferingCostsIncludedInAccruedExpenses
0 USD
vtl Offering Costs Included In Accrued Expenses
OfferingCostsIncludedInAccruedExpenses
25000 USD
CY2021Q3 dei Entity Number Of Employees
EntityNumberOfEmployees
52 employee
vtl Research And Development Number Of Programs
ResearchAndDevelopmentNumberOfPrograms
3 developmentProgram
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-175700000 USD
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-103900000 USD
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
258800000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
110400000 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6293000 USD
us-gaap Use Of Estimates
UseOfEstimates
<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 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>
CY2021Q3 vtl Number Of Financial Institutions Used For Cash Deposits
NumberOfFinancialInstitutionsUsedForCashDeposits
2 financialInstitution
CY2021Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
12051000 USD
CY2021Q3 us-gaap Depreciation
Depreciation
16000 USD
CY2020Q3 us-gaap Depreciation
Depreciation
43000 USD
us-gaap Depreciation
Depreciation
45000 USD
us-gaap Depreciation
Depreciation
63000 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2021Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2021Q3 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
133000 USD
CY2020Q3 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 USD
CY2021Q3 us-gaap Other Assets Current
OtherAssetsCurrent
1275000 USD
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1234000 USD
CY2021Q3 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
2 lease
CY2021Q3 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
2 lease
CY2020Q4 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
1348000 USD
CY2021Q3 vtl Prepaid Clinical And Related Costs Current
PrepaidClinicalAndRelatedCostsCurrent
7872000 USD
CY2020Q4 vtl Prepaid Clinical And Related Costs Current
PrepaidClinicalAndRelatedCostsCurrent
3416000 USD
CY2021Q3 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
310000 USD
CY2020Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
295000 USD
CY2021Q3 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
2594000 USD
CY2021Q3 vtl Clinical Costs Payable Current
ClinicalCostsPayableCurrent
2867000 USD
CY2020Q4 vtl Clinical Costs Payable Current
ClinicalCostsPayableCurrent
3408000 USD
CY2021Q3 vtl Legal And Audit Costs Payable Current
LegalAndAuditCostsPayableCurrent
101000 USD
CY2020Q4 vtl Legal And Audit Costs Payable Current
LegalAndAuditCostsPayableCurrent
139000 USD
CY2021Q3 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
273000 USD
CY2020Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
153000 USD
CY2021Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
3241000 USD
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3700000 USD
CY2021Q3 vtl Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
6012000 USD
CY2021Q3 us-gaap Contractual Obligation
ContractualObligation
2200000 USD
CY2020Q4 vtl Accrued Clinical Costs Current
AccruedClinicalCostsCurrent
3301000 USD
CY2021Q3 vtl Accrued Legal And Audit Costs Current
AccruedLegalAndAuditCostsCurrent
67000 USD
CY2020Q4 vtl Accrued Legal And Audit Costs Current
AccruedLegalAndAuditCostsCurrent
114000 USD
CY2021Q3 vtl Accrued Compensation Current
AccruedCompensationCurrent
528000 USD
CY2020Q4 vtl Accrued Compensation Current
AccruedCompensationCurrent
658000 USD
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
164000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
245000 USD
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6771000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4318000 USD
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
406000 USD
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
297000 USD
CY2021Q3 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
173000 USD
CY2020Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
82000 USD
CY2021Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
579000 USD
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
379000 USD
CY2021Q3 vtl Operating Lease Incremental Borrowing Rate
OperatingLeaseIncrementalBorrowingRate
0.06
CY2020Q3 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
108000 USD
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
372000 USD
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
267000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
115000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
461000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
312000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
238000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
119000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1245000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
105000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1140000 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
CY2018Q2 vtl Maximum Aggregate Offering Priceof Securities Under Shelf Registration
MaximumAggregateOfferingPriceofSecuritiesUnderShelfRegistration
200000000 USD
CY2020Q4 vtl Maximum Number Of Common Shares That Can Be Sold Under Shelf Registration Statement By Selling Shareholders
MaximumNumberOfCommonSharesThatCanBeSoldUnderShelfRegistrationStatementBySellingShareholders
250000000 shares
vtl Shelf Registration Agreement Commission Percent Of Gross Proceeds On Sale Of Common Stock
ShelfRegistrationAgreementCommissionPercentOfGrossProceedsOnSaleOfCommonStock
0.030
CY2021Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
130000000 shares
CY2021Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3129611 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
13000000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y11M4D
CY2020Q4 vtl Line Of Credit Facility Number Of Tranches
LineOfCreditFacilityNumberOfTranches
3 tranche

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