$LRMR
Larimar Therapeutics, Inc.

2015 Q4 Form 10-Q Financial Statement

#000119312515377065 Filed on November 13, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 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 $5.540M $5.550M $2.290M
YoY Change 66.87% 142.36% 112.04%
% of Gross Profit
Research & Development $17.71M $14.17M $12.08M
YoY Change 140.95% 17.35% 394.11%
% of Gross Profit
Depreciation & Amortization $40.00K $20.00K $0.00
YoY Change 300.0%
% of Gross Profit
Operating Expenses $23.25M $19.72M $14.36M
YoY Change 117.99% 37.3% 307.52%
Operating Profit -$19.72M -$14.36M
YoY Change 37.3% 307.52%
Interest Expense $70.00K $200.0K $213.0K
YoY Change -125.93% -6.1%
% of Operating Profit
Other Income/Expense, Net -$167.0K -$328.0K
YoY Change -49.09% -1740.0%
Pretax Income -$23.17M -$19.88M -$14.69M
YoY Change 111.99% 35.33% 319.71%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$23.17M -$19.88M -$14.69M
YoY Change 111.99% 35.37% 319.21%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$10.21M -$8.796M -$7.772M
COMMON SHARES
Basic Shares Outstanding 27.23M shares 27.12M shares 22.71M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $185.1M $204.0M $127.0M
YoY Change 60.29% 60.59% 2545.83%
Cash & Equivalents $35.60M $38.76M $127.0M
Short-Term Investments $149.5M $165.2M
Other Short-Term Assets $1.700M $1.800M $1.200M
YoY Change 30.77% 50.0% 500.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $188.1M $206.1M $129.5M
YoY Change 60.51% 59.18% 1803.96%
LONG-TERM ASSETS
Property, Plant & Equipment $902.0K $303.0K $69.00K
YoY Change 1041.77% 339.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $94.00K $79.00K $98.00K
YoY Change -61.16% -19.39% -51.0%
Total Long-Term Assets $996.0K $1.357M $167.0K
YoY Change 210.28% 712.57% -16.5%
TOTAL ASSETS
Total Short-Term Assets $188.1M $206.1M $129.5M
Total Long-Term Assets $996.0K $1.357M $167.0K
Total Assets $189.1M $207.4M $129.6M
YoY Change 60.92% 60.02% 1751.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.495M $4.151M $1.052M
YoY Change 219.21% 294.58% -24.86%
Accrued Expenses $6.112M $6.556M $9.885M
YoY Change 92.69% -33.68% 559.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $2.900M $2.900M $700.0K
YoY Change 107.14% 314.29%
Total Short-Term Liabilities $16.54M $13.58M $11.62M
YoY Change 139.72% 16.89% 300.72%
LONG-TERM LIABILITIES
Long-Term Debt $3.500M $4.200M $6.800M
YoY Change -43.55% -38.24%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $3.500M $4.200M $6.800M
YoY Change -43.55% -38.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.54M $13.58M $11.62M
Total Long-Term Liabilities $3.500M $4.200M $6.800M
Total Liabilities $20.00M $17.75M $18.44M
YoY Change 52.9% -3.76% 535.86%
SHAREHOLDERS EQUITY
Retained Earnings -$179.7M -$156.5M -$94.45M
YoY Change 70.49% 65.69%
Common Stock $349.0M $346.2M $205.7M
YoY Change 66.29% 68.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $169.1M $189.7M $111.2M
YoY Change
Total Liabilities & Shareholders Equity $189.1M $207.4M $129.6M
YoY Change 60.92% 60.02% 1751.94%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$23.17M -$19.88M -$14.69M
YoY Change 111.99% 35.37% 319.21%
Depreciation, Depletion And Amortization $40.00K $20.00K $0.00
YoY Change 300.0%
Cash From Operating Activities -$17.94M -$16.14M -$6.280M
YoY Change 53.2% 157.01% 82.56%
INVESTING ACTIVITIES
Capital Expenditures -$380.0K -$70.00K -$30.00K
YoY Change 1800.0% 133.33%
Acquisitions
YoY Change
Other Investing Activities $15.83M -$28.43M $0.00
YoY Change -127.67%
Cash From Investing Activities $15.46M -$28.51M -$30.00K
YoY Change -127.02% 94933.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -690.0K -160.0K -890.0K
YoY Change -82.02% 423.53%
NET CHANGE
Cash From Operating Activities -17.94M -16.14M -6.280M
Cash From Investing Activities 15.46M -28.51M -30.00K
Cash From Financing Activities -690.0K -160.0K -890.0K
Net Change In Cash -3.170M -44.81M -7.200M
YoY Change -95.4% 522.36% 99.45%
FREE CASH FLOW
Cash From Operating Activities -$17.94M -$16.14M -$6.280M
Capital Expenditures -$380.0K -$70.00K -$30.00K
Free Cash Flow -$17.56M -$16.07M -$6.250M
YoY Change 50.21% 157.12% 81.69%

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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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us-gaap Research And Development Expense
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us-gaap Defined Contribution Plan Cost Recognized
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us-gaap Increase Decrease In Accrued Liabilities
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5837000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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zfgn Increase Decrease In Tax Incentives Receivable
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zfgn Premium On Marketable Securities
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1142000
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2014Q3 us-gaap Revenues
Revenues
0
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2014Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-328000
CY2014Q3 us-gaap Investment Income Net
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CY2014Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-116000
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2014Q3 us-gaap Operating Leases Rent Expense Net
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CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
14361000
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InterestExpense
213000
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CY2014Q3 us-gaap Defined Contribution Plan Cost Recognized
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AllocatedShareBasedCompensationExpense
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GeneralAndAdministrativeExpense
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CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
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CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
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CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2015Q3 us-gaap Revenues
Revenues
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CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2015Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-167000
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
29000
CY2015Q3 us-gaap Investment Income Net
InvestmentIncomeNet
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CY2015Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
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CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2015Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
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29000
CY2015Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
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CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
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CY2015Q3 us-gaap Interest Expense
InterestExpense
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CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
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CY2015Q3 us-gaap Defined Contribution Plan Cost Recognized
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32000
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2841000
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5546000

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