$LRMR
Larimar Therapeutics, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023022187 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.745M $3.075M
YoY Change 23.07% -0.19%
% of Gross Profit
Research & Development $5.875M $4.562M
YoY Change 4.09% -21.43%
% of Gross Profit
Depreciation & Amortization $76.00K $78.00K
YoY Change -6.17% -22.0%
% of Gross Profit
Operating Expenses $9.620M $7.637M
YoY Change 10.74% -14.07%
Operating Profit -$9.620M -$7.637M
YoY Change 10.74% -14.07%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.254M $1.111M
YoY Change 6170.0% -2083.93%
Pretax Income -$8.366M -$6.526M
YoY Change -3.47% -27.03%
Income Tax
% Of Pretax Income
Net Earnings -$8.366M -$6.500M
YoY Change -3.47% -27.32%
Net Earnings / Revenue
Basic Earnings Per Share -$0.19 -$0.15
Diluted Earnings Per Share -$0.19 -$0.15
COMMON SHARES
Basic Shares Outstanding 43.27M 43.27M
Diluted Shares Outstanding 43.90M 43.90M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $104.2M $111.5M
YoY Change 89.72% 78.22%
Cash & Equivalents $94.32M $111.5M
Short-Term Investments $9.879M $0.00
Other Short-Term Assets $2.278M $1.940M
YoY Change 43.9% -2.61%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $106.5M $113.5M
YoY Change 87.65% 74.89%
LONG-TERM ASSETS
Property, Plant & Equipment $677.0K $753.0K
YoY Change -31.34% -29.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $644.0K $632.0K
YoY Change -0.77% -5.39%
Total Long-Term Assets $5.238M $5.443M
YoY Change -14.24% -14.2%
TOTAL ASSETS
Total Short-Term Assets $106.5M $113.5M
Total Long-Term Assets $5.238M $5.443M
Total Assets $111.7M $118.9M
YoY Change 77.74% 66.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.344M $695.0K
YoY Change 451.53% -71.25%
Accrued Expenses $4.365M $6.726M
YoY Change -34.42% 15.17%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $7.275M $8.010M
YoY Change -5.75% -9.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $4.511M $4.656M
YoY Change -11.15% -11.23%
Total Long-Term Liabilities $4.511M $4.656M
YoY Change -11.15% -11.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.275M $8.010M
Total Long-Term Liabilities $4.511M $4.656M
Total Liabilities $11.79M $12.67M
YoY Change -7.89% -10.28%
SHAREHOLDERS EQUITY
Retained Earnings -$166.5M -$158.1M
YoY Change 24.35% 26.28%
Common Stock $266.4M $264.4M
YoY Change 44.81% 45.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $99.93M $106.2M
YoY Change
Total Liabilities & Shareholders Equity $111.7M $118.9M
YoY Change 77.74% 66.95%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$8.366M -$6.500M
YoY Change -3.47% -27.32%
Depreciation, Depletion And Amortization $76.00K $78.00K
YoY Change -6.17% -22.0%
Cash From Operating Activities -$7.365M -$7.551M
YoY Change -1.62% 0.24%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$9.838M $92.25M
YoY Change -72.08%
Cash From Investing Activities -$9.838M $92.25M
YoY Change -72.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -7.365M -7.551M
Cash From Investing Activities -9.838M 92.25M
Cash From Financing Activities 0.000
Net Change In Cash -17.20M 84.70M
YoY Change -59.83% -1224.37%
FREE CASH FLOW
Cash From Operating Activities -$7.365M -$7.551M
Capital Expenditures $0.00
Free Cash Flow -$7.365M
YoY Change -0.28%

Facts In Submission

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CY2023Q1 dei Entity File Number
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CY2023Q1 dei Entity Registrant Name
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LARIMAR THERAPEUTICS, INC.
CY2023Q1 dei Entity Incorporation State Country Code
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DE
CY2023Q1 dei Entity Tax Identification Number
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CY2023Q1 dei Entity Address Address Line1
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Three Bala Plaza East
CY2023Q1 dei Entity Address Address Line2
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CY2023Q1 dei Local Phone Number
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CY2023Q1 dei Security12b Title
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Common Stock, par value $0.001 per share
CY2023Q1 dei Trading Symbol
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expense, the recording as prepaid expense of payments made in advance of the actual provision of goods or services, valuation of stock-based awards and valuation of leases. Due to inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions.</span></p>
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PrepaidInsurance
679000
CY2023Q1 lrmr Other Prepaid Expense And Other Current Assets
OtherPrepaidExpenseAndOtherCurrentAssets
434000
CY2022Q4 lrmr Other Prepaid Expense And Other Current Assets
OtherPrepaidExpenseAndOtherCurrentAssets
238000
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1940000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2311000
CY2023Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1745000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1745000
CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
992000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
914000
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
753000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
831000
CY2023Q1 lrmr Depreciation Expense Excluding Leased Assets
DepreciationExpenseExcludingLeasedAssets
100000
CY2022Q1 lrmr Depreciation Expense Excluding Leased Assets
DepreciationExpenseExcludingLeasedAssets
100000
CY2023Q1 lrmr Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
5685000
CY2022Q4 lrmr Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
5921000
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
565000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2046000
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
476000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
441000
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6726000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8408000
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
115000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
43269200
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
43269200
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2023Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q1 us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders
CY2023Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0363
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.94
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3071528
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.13
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1288000
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.06
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
31007
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
11.38
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4328521
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.04
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
400000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1736663
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
13.76
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y6M
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4328521
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
10.04
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
400000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1833000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1635000
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.110
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.110
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
843000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1065000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1083000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1101000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1118000
CY2023Q1 lrmr Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
2095000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7305000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2060000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
5245000

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