$IMUX
Immunic Inc

2022 Q3 Form 10-Q Financial Statement

#000128077622000017 Filed on August 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.579M $4.072M $3.990M
YoY Change 23.12% 18.65% -80.88%
% of Gross Profit
Research & Development $16.54M $16.54M $17.45M
YoY Change 6.83% 5.08% 51.45%
% of Gross Profit
Depreciation & Amortization $17.00K $20.00K $21.00K
YoY Change 6.25% 33.33% 50.0%
% of Gross Profit
Operating Expenses $20.12M $20.61M $21.44M
YoY Change 9.4% 7.51% -33.82%
Operating Profit -$20.12M -$20.61M -$21.44M
YoY Change 9.4% 7.51% -33.82%
Interest Expense $230.0K $106.0K $7.000K
YoY Change 2200.0% 715.38% -76.67%
% of Operating Profit
Other Income/Expense, Net -$1.108M -$1.291M $627.0K
YoY Change 22.43% -204.45% -129.2%
Pretax Income -$21.22M -$21.90M -$20.81M
YoY Change 10.01% 22.12% -39.74%
Income Tax
% Of Pretax Income
Net Earnings -$21.22M -$21.90M -$20.81M
YoY Change 10.01% 22.12% -39.75%
Net Earnings / Revenue
Basic Earnings Per Share -$0.69 -$0.72 -$0.74
Diluted Earnings Per Share -$0.69 -$0.72 -$0.74
COMMON SHARES
Basic Shares Outstanding 30.56M shares 30.25M shares 28.13M shares
Diluted Shares Outstanding 30.56M shares 30.25M shares 28.13M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $72.77M $88.08M $95.71M
YoY Change -34.11% 1.04% -16.63%
Cash & Equivalents $72.77M $88.10M $95.70M
Short-Term Investments
Other Short-Term Assets $1.549M $1.516M $1.548M
YoY Change 21.49% 1.34% 74.72%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $86.65M $104.8M $115.9M
YoY Change -29.26% 3.02% -3.66%
LONG-TERM ASSETS
Property, Plant & Equipment $159.0K $139.0K $155.0K
YoY Change -18.88% -28.35% -18.42%
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% 0.0%
Total Long-Term Assets $34.43M $33.90M $34.04M
YoY Change 0.5% -1.38% -1.17%
TOTAL ASSETS
Total Short-Term Assets $86.65M $104.8M $115.9M
Total Long-Term Assets $34.43M $33.90M $34.04M
Total Assets $121.1M $138.7M $149.9M
YoY Change -22.76% 1.91% -3.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.172M $4.117M $3.288M
YoY Change 28.73% -1.55% -67.28%
Accrued Expenses $6.623M $5.741M $7.520M
YoY Change -2.19% -7.03% 29.05%
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 $11.51M $10.40M $11.46M
YoY Change 8.71% -28.2% -29.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $759.0K $407.0K $502.0K
YoY Change 8.27% -50.9% -44.22%
Total Long-Term Liabilities $759.0K $407.0K $502.0K
YoY Change 8.27% -50.9% -45.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.51M $10.40M $11.46M
Total Long-Term Liabilities $759.0K $407.0K $502.0K
Total Liabilities $12.27M $10.81M $11.96M
YoY Change 8.69% -29.43% -30.78%
SHAREHOLDERS EQUITY
Retained Earnings -$260.8M -$239.6M -$217.7M
YoY Change 48.43% 53.2% 57.18%
Common Stock $3.000K $3.000K $3.000K
YoY Change 0.0% 50.0% 50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $108.8M $127.8M $138.0M
YoY Change
Total Liabilities & Shareholders Equity $121.1M $138.7M $149.9M
YoY Change -22.76% 1.91% -3.1%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$21.22M -$21.90M -$20.81M
YoY Change 10.01% 22.12% -39.75%
Depreciation, Depletion And Amortization $17.00K $20.00K $21.00K
YoY Change 6.25% 33.33% 50.0%
Cash From Operating Activities -$13.60M -$15.76M -$20.68M
YoY Change -22.75% -45.65% 59.72%
INVESTING ACTIVITIES
Capital Expenditures -$73.00K -$28.00K $12.00K
YoY Change 265.0% 55.56% 20.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$73.00K -$28.00K -$12.00K
YoY Change 265.0% 55.56% 20.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $29.64M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 10.08M $29.64M
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -13.60M -15.76M -$20.68M
Cash From Investing Activities -73.00K -28.00K -$12.00K
Cash From Financing Activities 0.000 10.08M $29.64M
Net Change In Cash -13.67M -5.715M $8.847M
YoY Change -156.02% -80.31% -170.14%
FREE CASH FLOW
Cash From Operating Activities -$13.60M -$15.76M -$20.68M
Capital Expenditures -$73.00K -$28.00K $12.00K
Free Cash Flow -$13.52M -$15.74M -$20.69M
YoY Change -23.07% -45.71% 59.69%

Facts In Submission

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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
28000 usd
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Stock Options Exercised
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5000 usd
us-gaap Proceeds From Stock Options Exercised
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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1215000 usd
CY2020Q4 vtl Maximum Aggregate Offering Price Of Securities Under Shelf Registration
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
88078000 usd
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us-gaap Stock Issued1
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0 usd
us-gaap Stock Issued1
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8625000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2022Q2 dei Entity Number Of Employees
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CY2022Q2 vtl Number Of Development Programs Pursued
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CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
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us-gaap Proceeds From Issuance Of Private Placement
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CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
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us-gaap Use Of Estimates
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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 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>
vtl Shelf Registration Agreement Commission Percent Of Gross Proceeds On Sale Of Common Stock
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0.030
CY2022Q2 us-gaap Depreciation
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CY2021Q2 us-gaap Depreciation
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us-gaap Depreciation
Depreciation
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us-gaap Depreciation
Depreciation
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us-gaap Tangible Asset Impairment Charges
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0 usd
us-gaap Tangible Asset Impairment Charges
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0 usd
CY2022Q2 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 usd
CY2021Q2 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 usd
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q2 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
2 lease
CY2022Q2 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
2 lease
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
130000000 shares
CY2022Q2 vtl Prepaid Clinical And Related Costs Current
PrepaidClinicalAndRelatedCostsCurrent
11895000 usd
CY2021Q4 vtl Prepaid Clinical And Related Costs Current
PrepaidClinicalAndRelatedCostsCurrent
14853000 usd
CY2022Q2 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
397000 usd
CY2021Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
279000 usd
CY2022Q2 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
2875000 usd
CY2021Q4 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
1871000 usd
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
1516000 usd
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1122000 usd
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
16683000 usd
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
18125000 usd
CY2022Q2 vtl Clinical Costs Payable Current
ClinicalCostsPayableCurrent
3807000 usd
CY2021Q4 vtl Clinical Costs Payable Current
ClinicalCostsPayableCurrent
3427000 usd
CY2022Q2 vtl Legal And Audit Costs Payable Current
LegalAndAuditCostsPayableCurrent
102000 usd
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 vtl Legal And Audit Costs Payable Current
LegalAndAuditCostsPayableCurrent
72000 usd
CY2022Q2 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
208000 usd
CY2021Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
246000 usd
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
4117000 usd
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3745000 usd
CY2022Q2 vtl Accrued Clinical Costs Current
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4974000 usd
CY2021Q4 vtl Accrued Clinical Costs Current
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6214000 usd
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69000 usd
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AccruedLegalAndAuditCostsCurrent
96000 usd
CY2022Q2 vtl Accrued Compensation Current
AccruedCompensationCurrent
608000 usd
CY2021Q4 vtl Accrued Compensation Current
AccruedCompensationCurrent
674000 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
90000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
87000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5741000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7071000 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
366000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
408000 usd
CY2022Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
178000 usd
CY2021Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
177000 usd
CY2022Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
544000 usd
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
585000 usd
CY2022Q2 vtl Operating Lease Incremental Borrowing Rate
OperatingLeaseIncrementalBorrowingRate
0.06
CY2022Q2 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
136000 usd
CY2021Q2 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
145000 usd
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
266000 usd
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
239000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
219000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
289000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
214000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
107000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
0 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
829000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
62000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
767000 usd
CY2022Q2 us-gaap Contractual Obligation
ContractualObligation
2600000 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
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
20000000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
4232534 shares
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
19400000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y21D

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