$LRMR
Larimar Therapeutics, Inc.

2015 Q2 Form 10-Q Financial Statement

#000119312515188267 Filed on May 14, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 Q1 2014 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 $5.080M $3.030M $1.250M
YoY Change 293.8% 142.4% 40.45%
% of Gross Profit
Research & Development $12.53M $10.22M $3.275M
YoY Change 166.79% 211.91% 24.52%
% of Gross Profit
Depreciation & Amortization $0.00 $5.000K $3.000K
YoY Change -100.0% 66.67%
% of Gross Profit
Operating Expenses $17.61M $13.24M $4.521M
YoY Change 194.19% 192.86% 28.44%
Operating Profit -$17.61M -$13.24M -$4.521M
YoY Change 194.19% 192.86%
Interest Expense $213.0K $213.0K $2.000K
YoY Change -51.92% 10550.0% -110.0%
% of Operating Profit
Other Income/Expense, Net -$146.0K -$232.0K $63.00K
YoY Change -64.73% -468.25%
Pretax Income -$17.76M -$13.47M -$4.460M
YoY Change 177.5% 202.02% 25.99%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$17.76M -$13.47M -$4.458M
YoY Change 177.44% 202.2% 25.93%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$7.893M -$6.324M -$2.578M
COMMON SHARES
Basic Shares Outstanding 26.89M shares 26.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q2 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $220.1M $234.2M $38.50M
YoY Change 64.01% 508.31%
Cash & Equivalents $83.57M $106.9M $38.48M
Short-Term Investments $136.5M $127.3M
Other Short-Term Assets $1.100M $1.700M $300.0K
YoY Change -21.43% 466.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $221.6M $236.3M $39.90M
YoY Change 61.98% 492.3%
LONG-TERM ASSETS
Property, Plant & Equipment $215.0K $101.0K $0.00
YoY Change 411.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $84.00K $89.00K $1.400M
YoY Change -19.23% -93.64%
Total Long-Term Assets $972.0K $395.0K $1.400M
YoY Change 565.75% -71.79%
TOTAL ASSETS
Total Short-Term Assets $221.6M $236.3M $39.90M
Total Long-Term Assets $972.0K $395.0K $1.400M
Total Assets $222.6M $236.7M $41.30M
YoY Change 62.52% 473.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.297M $3.404M $1.000M
YoY Change 108.9% 240.4%
Accrued Expenses $4.441M $4.034M $1.600M
YoY Change 117.16% 152.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.800M $2.100M $500.0K
YoY Change 320.0%
Total Short-Term Liabilities $11.56M $9.531M $3.100M
YoY Change 181.76% 207.45%
LONG-TERM LIABILITIES
Long-Term Debt $4.900M $5.500M $6.900M
YoY Change -33.78% -20.29%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $4.900M $5.500M $6.900M
YoY Change -33.78% -20.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.56M $9.531M $3.100M
Total Long-Term Liabilities $4.900M $5.500M $6.900M
Total Liabilities $16.41M $15.05M $9.900M
YoY Change 42.08% 52.04%
SHAREHOLDERS EQUITY
Retained Earnings -$136.6M -$118.9M
YoY Change 71.27%
Common Stock $342.9M $340.6M
YoY Change 67.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $206.2M $221.7M $31.40M
YoY Change
Total Liabilities & Shareholders Equity $222.6M $236.7M $41.30M
YoY Change 62.52% 473.17%

Cashflow Statement

Concept 2015 Q2 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income -$17.76M -$13.47M -$4.458M
YoY Change 177.44% 202.2% 25.93%
Depreciation, Depletion And Amortization $0.00 $5.000K $3.000K
YoY Change -100.0% 66.67%
Cash From Operating Activities -$14.38M -$11.09M -$4.020M
YoY Change 130.82% 175.87% 26.42%
INVESTING ACTIVITIES
Capital Expenditures -$120.0K $27.00K $5.000K
YoY Change 440.0%
Acquisitions
YoY Change
Other Investing Activities -$9.220M -$69.70M $0.00
YoY Change 15266.67%
Cash From Investing Activities -$9.340M -$69.73M -$10.00K
YoY Change 15466.67% 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 360.0K 129.7M 6.990M
YoY Change -99.65% 1754.79% 17.28%
NET CHANGE
Cash From Operating Activities -14.38M -11.09M -4.020M
Cash From Investing Activities -9.340M -69.73M -10.00K
Cash From Financing Activities 360.0K 129.7M 6.990M
Net Change In Cash -23.36M 48.83M 2.960M
YoY Change -124.4% 1549.66% 6.47%
FREE CASH FLOW
Cash From Operating Activities -$14.38M -$11.09M -$4.020M
Capital Expenditures -$120.0K $27.00K $5.000K
Free Cash Flow -$14.26M -$11.12M -$4.025M
YoY Change 128.89% 176.2% 26.57%

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Zafgen, Inc.
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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, assumptions and judgments 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, assumptions and judgments reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses, the valuation of common stock prior to the IPO and the valuation of 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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OperatingExpenses
13240000
CY2015Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10215000
CY2015Q1 us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
131000
CY2015Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
48831000
CY2015Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
58000
CY2015Q1 us-gaap Depreciation
Depreciation
5000
CY2015Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
45000
CY2015Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
990000
CY2015Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-69729000
CY2015Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
16000
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3025000
CY2015Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1121000
CY2015Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
76000
CY2015Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
29250000
CY2015Q1 us-gaap Line Of Credit Facility Periodic Payment Interest
LineOfCreditFacilityPeriodicPaymentInterest
213000
CY2015Q1 zfgn Effective Income Tax Rate Reconciliation Tax Refunds Related To Research And Development
EffectiveIncomeTaxRateReconciliationTaxRefundsRelatedToResearchAndDevelopment
0.45 pure
CY2015Q1 zfgn Increase Decrease In Tax Incentives Receivable
IncreaseDecreaseInTaxIncentivesReceivable
229000
CY2015Q1 zfgn Research And Development Expenses Reduction
ResearchAndDevelopmentExpensesReduction
229000

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