$IMUX
Immunic Inc

2022 Q4 Form 10-Q Financial Statement

#000128077622000021 Filed on November 03, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 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 $3.622M $3.579M $2.907M
YoY Change 8.35% 23.12% 15.82%
% of Gross Profit
Research & Development $20.74M $16.54M $15.48M
YoY Change 12.83% 6.83% 40.22%
% of Gross Profit
Depreciation & Amortization $19.00K $17.00K $16.00K
YoY Change -52.5% 6.25% -62.79%
% of Gross Profit
Operating Expenses $24.36M $20.12M $18.39M
YoY Change 12.14% 9.4% 35.75%
Operating Profit -$20.12M -$18.39M
YoY Change 9.4% 35.75%
Interest Expense $698.0K $230.0K $10.00K
YoY Change 4553.33% 2200.0% -50.0%
% of Operating Profit
Other Income/Expense, Net $155.0K -$1.108M -$905.0K
YoY Change -70.25% 22.43% -243.2%
Pretax Income -$56.47M -$21.22M -$19.29M
YoY Change 166.58% 10.01% 49.43%
Income Tax
% Of Pretax Income
Net Earnings -$56.47M -$21.22M -$19.29M
YoY Change 166.58% 10.01% 49.4%
Net Earnings / Revenue
Basic Earnings Per Share -$0.69 -$0.76
Diluted Earnings Per Share -$1.47 -$0.69 -$0.76
COMMON SHARES
Basic Shares Outstanding 39.26M shares 30.56M shares 26.25M shares
Diluted Shares Outstanding 30.56M shares 25.32M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $116.4M $72.77M $110.4M
YoY Change 33.97% -34.11% -17.08%
Cash & Equivalents $106.7M $72.77M $110.4M
Short-Term Investments $9.629M
Other Short-Term Assets $1.225M $1.549M $1.275M
YoY Change 9.18% 21.49% 113.57%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $125.9M $86.65M $122.5M
YoY Change 19.88% -29.26% -10.94%
LONG-TERM ASSETS
Property, Plant & Equipment $294.0K $159.0K $196.0K
YoY Change 93.42% -18.88% 33.33%
Goodwill $0.00 $32.97M $32.97M
YoY Change -100.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $43.00K $42.00K $42.00K
YoY Change 2.38% 0.0% 0.0%
Total Long-Term Assets $1.889M $34.43M $34.26M
YoY Change -94.46% 0.5% 0.48%
TOTAL ASSETS
Total Short-Term Assets $125.9M $86.65M $122.5M
Total Long-Term Assets $1.889M $34.43M $34.26M
Total Assets $127.8M $121.1M $156.8M
YoY Change -8.16% -22.76% -8.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.281M $4.172M $3.241M
YoY Change 14.31% 28.73% -5.21%
Accrued Expenses $7.986M $6.623M $6.771M
YoY Change 12.94% -2.19% 59.21%
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 $13.08M $11.51M $10.59M
YoY Change 14.7% 8.71% 31.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $992.0K $759.0K $701.0K
YoY Change 69.86% 8.27% 0.14%
Total Long-Term Liabilities $992.0K $759.0K $701.0K
YoY Change 69.86% 8.27% -4.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.08M $11.51M $10.59M
Total Long-Term Liabilities $992.0K $759.0K $701.0K
Total Liabilities $14.07M $12.27M $11.29M
YoY Change 17.39% 8.69% 28.83%
SHAREHOLDERS EQUITY
Retained Earnings -$317.3M -$260.8M -$175.7M
YoY Change 61.15% 48.43% 89.33%
Common Stock $4.000K $3.000K $3.000K
YoY Change 33.33% 0.0% 50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $113.7M $108.8M $145.5M
YoY Change
Total Liabilities & Shareholders Equity $127.8M $121.1M $156.8M
YoY Change -8.16% -22.76% -8.67%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$56.47M -$21.22M -$19.29M
YoY Change 166.58% 10.01% 49.4%
Depreciation, Depletion And Amortization $19.00K $17.00K $16.00K
YoY Change -52.5% 6.25% -62.79%
Cash From Operating Activities -$15.10M -$13.60M -$17.60M
YoY Change -36.22% -22.75% 47.89%
INVESTING ACTIVITIES
Capital Expenditures -$1.000K -$73.00K -$20.00K
YoY Change -94.74% 265.0% -66.67%
Acquisitions
YoY Change
Other Investing Activities -$9.629M
YoY Change
Cash From Investing Activities -$9.628M -$73.00K -$20.00K
YoY Change 50573.68% 265.0% -66.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 56.04M 0.000 42.02M
YoY Change 6725.94% -100.0% -56.47%
NET CHANGE
Cash From Operating Activities -15.10M -13.60M -17.60M
Cash From Investing Activities -9.628M -73.00K -20.00K
Cash From Financing Activities 56.04M 0.000 42.02M
Net Change In Cash 31.31M -13.67M 24.40M
YoY Change -236.85% -156.02% -71.15%
FREE CASH FLOW
Cash From Operating Activities -$15.10M -$13.60M -$17.60M
Capital Expenditures -$1.000K -$73.00K -$20.00K
Free Cash Flow -$15.10M -$13.52M -$17.58M
YoY Change -36.17% -23.07% 48.47%

Facts In Submission

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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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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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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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110444000 usd
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CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
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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>
CY2022Q3 vtl Number Of Financial Institutions Used For Cash Deposits
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us-gaap Tangible Asset Impairment Charges
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CY2022Q3 vtl Lessee Operating Leases Number Of Existing Leases
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CY2022Q3 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
2 lease
CY2022Q3 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
2 lease
CY2022Q3 vtl Lessee Operating Leases Number Of Existing Leases
LesseeOperatingLeasesNumberOfExistingLeases
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CY2022Q3 vtl Prepaid Clinical And Related Costs Current
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8938000 usd
CY2021Q4 vtl Prepaid Clinical And Related Costs Current
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14853000 usd
CY2022Q3 us-gaap Value Added Tax Receivable Current
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241000 usd
CY2021Q4 us-gaap Value Added Tax Receivable Current
ValueAddedTaxReceivableCurrent
279000 usd
CY2022Q3 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
3150000 usd
CY2021Q4 vtl Research And Development Tax Incentive Current
ResearchAndDevelopmentTaxIncentiveCurrent
1871000 usd
CY2022Q3 us-gaap Other Assets Current
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1549000 usd
CY2021Q4 us-gaap Other Assets Current
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1122000 usd
CY2022Q3 vtl Clinical Costs Payable Current
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3748000 usd
CY2021Q4 vtl Clinical Costs Payable Current
ClinicalCostsPayableCurrent
3427000 usd
CY2022Q3 vtl Legal And Audit Costs Payable Current
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114000 usd
CY2021Q4 vtl Legal And Audit Costs Payable Current
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72000 usd
CY2022Q3 us-gaap Accounts Payable Other Current
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310000 usd
CY2021Q4 us-gaap Accounts Payable Other Current
AccountsPayableOtherCurrent
246000 usd
CY2022Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
4172000 usd
CY2021Q4 us-gaap Accounts Payable Current
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3745000 usd
CY2022Q3 vtl Accrued Clinical Costs Current
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5504000 usd
CY2021Q4 vtl Accrued Clinical Costs Current
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6214000 usd
CY2022Q3 vtl Accrued Legal And Audit Costs Current
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85000 usd
CY2022Q3 vtl Operating Lease Incremental Borrowing Rate
OperatingLeaseIncrementalBorrowingRate
0.06
CY2021Q4 vtl Accrued Legal And Audit Costs Current
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96000 usd
CY2022Q3 vtl Accrued Compensation Current
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881000 usd
CY2021Q4 vtl Accrued Compensation Current
AccruedCompensationCurrent
674000 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
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153000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
87000 usd
CY2022Q3 us-gaap Accrued Liabilities Current
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6623000 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7071000 usd
CY2022Q3 us-gaap Operating Lease Liability Current
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395000 usd
CY2021Q4 us-gaap Operating Lease Liability Current
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408000 usd
CY2022Q3 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
324000 usd
CY2021Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
177000 usd
CY2022Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
719000 usd
CY2021Q4 us-gaap Other Liabilities Current
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585000 usd
CY2022Q3 vtl Operating And Variable Leases Cost
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232000 usd
CY2021Q3 vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
133000 usd
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
498000 usd
vtl Operating And Variable Leases Cost
OperatingAndVariableLeasesCost
372000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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169000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
528000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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454000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
227000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
0 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1378000 usd
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
104000 usd
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1274000 usd
CY2022Q3 us-gaap Contractual Obligation
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2700000 usd
CY2016Q2 vtl Asset Purchase Agreement Royalties As Percent Of Aggregated Net Sales
AssetPurchaseAgreementRoyaltiesAsPercentOfAggregatedNetSales
0.044
CY2019Q2 us-gaap Common Stock Shares Issued
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120070 shares
CY2019Q2 us-gaap Common Stock Value
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1500000 usd
CY2020Q4 vtl Maximum Aggregate Offering Price Of Securities Under Shelf Registration
MaximumAggregateOfferingPriceOfSecuritiesUnderShelfRegistration
250000000 usd
vtl Shelf Registration Agreement Commission Percent Of Gross Proceeds On Sale Of Common Stock
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0.030
CY2022Q3 us-gaap Common Stock Shares Authorized
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130000000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
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0.0001
us-gaap Common Stock Dividends Per Share Declared
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0
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0
CY2022Q3 us-gaap Preferred Stock Shares Authorized
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20000000 shares
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.0001
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
4232534 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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17600000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P2Y10M28D

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