$LRMR
Larimar Therapeutics, Inc.

2015 Q1 Form 10-K Financial Statement

#000119312515103624 Filed on March 25, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2013 Q4 2013 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 $3.030M $1.240M $1.080M
YoY Change 142.4% 106.67%
% of Gross Profit
Research & Development $10.22M $2.520M $2.444M
YoY Change 211.91% 5.0%
% of Gross Profit
Depreciation & Amortization $5.000K $0.00 $0.00
YoY Change 66.67% -100.0%
% of Gross Profit
Operating Expenses $13.24M $3.761M $3.524M
YoY Change 192.86% 24.95%
Operating Profit -$13.24M -$3.524M
YoY Change 192.86%
Interest Expense $213.0K -$90.00K
YoY Change 10550.0% 50.0%
% of Operating Profit
Other Income/Expense, Net -$232.0K $20.00K
YoY Change -468.25%
Pretax Income -$13.47M -$3.850M -$3.500M
YoY Change 202.02% 25.82%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$13.47M -$3.850M -$3.504M
YoY Change 202.2% 25.82%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$6.324M -$2.225M -$2.023M
COMMON SHARES
Basic Shares Outstanding 26.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $234.2M $35.50M $4.800M
YoY Change 508.31%
Cash & Equivalents $106.9M $35.52M $4.845M
Short-Term Investments $127.3M
Other Short-Term Assets $1.700M $200.0K $200.0K
YoY Change 466.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $236.3M $37.36M $6.800M
YoY Change 492.3%
LONG-TERM ASSETS
Property, Plant & Equipment $101.0K $37.00K $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $89.00K $743.0K $200.0K
YoY Change -93.64%
Total Long-Term Assets $395.0K $780.0K $200.0K
YoY Change -71.79%
TOTAL ASSETS
Total Short-Term Assets $236.3M $37.36M $6.800M
Total Long-Term Assets $395.0K $780.0K $200.0K
Total Assets $236.7M $38.14M $7.000M
YoY Change 473.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.404M $2.015M $1.400M
YoY Change 240.4%
Accrued Expenses $4.034M $900.0K $1.500M
YoY Change 152.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.100M
YoY Change 320.0%
Total Short-Term Liabilities $9.531M $2.915M $2.900M
YoY Change 207.45%
LONG-TERM LIABILITIES
Long-Term Debt $5.500M $0.00 $0.00
YoY Change -20.29%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.500M $0.00 $0.00
YoY Change -20.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.531M $2.915M $2.900M
Total Long-Term Liabilities $5.500M $0.00 $0.00
Total Liabilities $15.05M $2.915M $2.900M
YoY Change 52.04%
SHAREHOLDERS EQUITY
Retained Earnings -$118.9M -$68.91M
YoY Change
Common Stock $340.6M $333.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $221.7M -$68.57M $4.100M
YoY Change
Total Liabilities & Shareholders Equity $236.7M $38.14M $7.000M
YoY Change 473.17%

Cashflow Statement

Concept 2015 Q1 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income -$13.47M -$3.850M -$3.504M
YoY Change 202.2% 25.82%
Depreciation, Depletion And Amortization $5.000K $0.00 $0.00
YoY Change 66.67% -100.0%
Cash From Operating Activities -$11.09M -$4.130M -$3.440M
YoY Change 175.87% 20.41% -66.14%
INVESTING ACTIVITIES
Capital Expenditures $27.00K -$10.00K $0.00
YoY Change 440.0%
Acquisitions
YoY Change
Other Investing Activities -$69.70M $0.00 $0.00
YoY Change
Cash From Investing Activities -$69.73M -$10.00K $0.00
YoY Change 697200.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $130.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 129.7M 34.81M -170.0K
YoY Change 1754.79% 190.08% -101.69%
NET CHANGE
Cash From Operating Activities -11.09M -4.130M -3.440M
Cash From Investing Activities -69.73M -10.00K 0.000
Cash From Financing Activities 129.7M 34.81M -170.0K
Net Change In Cash 48.83M 30.67M -3.610M
YoY Change 1549.66% 257.88% 3510.0%
FREE CASH FLOW
Cash From Operating Activities -$11.09M -$4.130M -$3.440M
Capital Expenditures $27.00K -$10.00K $0.00
Free Cash Flow -$11.12M -$4.120M -$3.440M
YoY Change 176.2% 20.12% -66.14%

Facts In Submission

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10-K
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Zafgen, Inc.
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ZFGN
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2005-11-22
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No
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2017-12-01
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 4%"> The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of common stock prior to the IPO and stock-based awards. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Actual results could differ from the Company&#x2019;s estimates.</p> </div>
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2014-12-31
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0001374690
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<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>Concentration of Credit Risk and of Significant Suppliers</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and marketable securities. The Company has all cash and cash equivalents and marketable securities balances at two accredited financial institutions in amounts that exceed federally insured limits. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; MARGIN-TOP: 12pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> The Company is dependent on third-party manufacturers to supply products for research and development activities in its programs. In particular, the Company relies and expects to continue to rely on a small number of manufacturers to supply it with its requirements for the active pharmaceutical ingredients and formulated drugs related to these programs. These programs could be adversely affected by a significant interruption in the supply of active pharmaceutical ingredients and formulated drugs.</p> </div>
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CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
12000
CY2012 zfgn Valuation Allowance Deferred Tax Asset Change In Amount Decrease
ValuationAllowanceDeferredTaxAssetChangeInAmountDecrease
0
CY2012 zfgn Valuation Allowance Deferred Tax Asset Change In Amount Increase
ValuationAllowanceDeferredTaxAssetChangeInAmountIncrease
5262000
CY2012 zfgn License Milestone And Maintenance Fees
LicenseMilestoneAndMaintenanceFees
150000
CY2012 zfgn Increase Decrease In Tax Incentives Receivable
IncreaseDecreaseInTaxIncentivesReceivable
630000
CY2012 zfgn Research And Development Expenses Reduction
ResearchAndDevelopmentExpensesReduction
630000
CY2013Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
727763 shares
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2013Q1 us-gaap Revenues
Revenues
0
CY2013Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
3520000
CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
729391 shares
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-6.18
CY2014Q1 us-gaap Revenues
Revenues
0
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-4507000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
4521000
CY2013Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
729391 shares
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.37
CY2013Q2 us-gaap Revenues
Revenues
0
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3190000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
2975000
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2178465 shares
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-2.96
CY2014Q2 us-gaap Revenues
Revenues
0
CY2014Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6443000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
5986000
CY2013Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
729391 shares
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.88
CY2013Q3 us-gaap Revenues
Revenues
0
CY2013Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3557000
CY2013Q3 us-gaap Operating Expenses
OperatingExpenses
3524000
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22707012 shares
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.65
CY2013Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
729391 shares
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.48
CY2014Q4 us-gaap Revenues
Revenues
0
CY2014Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-10931000
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
10664000
CY2014Q3 us-gaap Revenues
Revenues
0
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14689000
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
14361000
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-5.35
CY2013Q4 us-gaap Revenues
Revenues
0
CY2013Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3899000
CY2013Q4 us-gaap Operating Expenses
OperatingExpenses
3761000
CY2014Q4 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
22783817 shares

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