$LRMR
Larimar Therapeutics, Inc.

2016 Q2 Form 10-Q Financial Statement

#000119312516585718 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2016 Q1 2015 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 $4.900M $5.360M $3.030M
YoY Change -3.54% 76.9% 142.4%
% of Gross Profit
Research & Development $10.16M $12.50M $10.22M
YoY Change -18.86% 22.34% 211.91%
% of Gross Profit
Depreciation & Amortization $50.00K $50.00K $5.000K
YoY Change 900.0% 66.67%
% of Gross Profit
Operating Expenses $15.06M $17.86M $13.24M
YoY Change -14.47% 34.87% 192.86%
Operating Profit -$15.06M -$17.86M -$13.24M
YoY Change -14.47% 34.87% 192.86%
Interest Expense $140.0K $160.0K $213.0K
YoY Change -34.27% -24.88% 10550.0%
% of Operating Profit
Other Income/Expense, Net $34.00K $121.0K -$232.0K
YoY Change -123.29% -152.16% -468.25%
Pretax Income -$15.03M -$17.74M -$13.47M
YoY Change -15.37% 31.7% 202.02%
Income Tax
% Of Pretax Income
Net Earnings -$15.03M -$17.74M -$13.47M
YoY Change -15.36% 31.65% 202.2%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$6.621M -$7.815M -$6.324M
COMMON SHARES
Basic Shares Outstanding 27.27M shares 27.27M shares 26.86M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $150.5M $166.2M $234.2M
YoY Change -31.64% -29.04% 508.31%
Cash & Equivalents $20.03M $31.45M $106.9M
Short-Term Investments $130.4M $134.7M $127.3M
Other Short-Term Assets $1.300M $1.300M $1.700M
YoY Change 18.18% -23.53% 466.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $153.2M $168.8M $236.3M
YoY Change -30.9% -28.55% 492.3%
LONG-TERM ASSETS
Property, Plant & Equipment $1.256M $954.0K $101.0K
YoY Change 484.19% 844.55%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $87.00K $90.00K $89.00K
YoY Change 3.57% 1.12% -93.64%
Total Long-Term Assets $1.674M $1.188M $395.0K
YoY Change 72.22% 200.76% -71.79%
TOTAL ASSETS
Total Short-Term Assets $153.2M $168.8M $236.3M
Total Long-Term Assets $1.674M $1.188M $395.0K
Total Assets $154.8M $170.0M $236.7M
YoY Change -30.45% -28.17% 473.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.581M $3.146M $3.404M
YoY Change -39.93% -7.58% 240.4%
Accrued Expenses $4.976M $6.739M $4.034M
YoY Change 12.05% 67.06% 152.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.100M $3.000M $2.100M
YoY Change 10.71% 42.86% 320.0%
Total Short-Term Liabilities $10.61M $12.88M $9.531M
YoY Change -8.17% 35.15% 207.45%
LONG-TERM LIABILITIES
Long-Term Debt $2.000M $2.700M $5.500M
YoY Change -59.18% -50.91% -20.29%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $2.000M $2.700M $5.500M
YoY Change -59.18% -50.91% -20.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.61M $12.88M $9.531M
Total Long-Term Liabilities $2.000M $2.700M $5.500M
Total Liabilities $12.59M $15.60M $15.05M
YoY Change -23.29% 3.67% 52.04%
SHAREHOLDERS EQUITY
Retained Earnings -$212.4M -$197.4M -$118.9M
YoY Change 55.5% 66.09%
Common Stock $354.7M $351.8M $340.6M
YoY Change 3.45% 3.31%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $142.2M $154.4M $221.7M
YoY Change
Total Liabilities & Shareholders Equity $154.8M $170.0M $236.7M
YoY Change -30.45% -28.17% 473.17%

Cashflow Statement

Concept 2016 Q2 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$15.03M -$17.74M -$13.47M
YoY Change -15.36% 31.65% 202.2%
Depreciation, Depletion And Amortization $50.00K $50.00K $5.000K
YoY Change 900.0% 66.67%
Cash From Operating Activities -$14.52M -$17.76M -$11.09M
YoY Change 0.97% 60.14% 175.87%
INVESTING ACTIVITIES
Capital Expenditures -$260.0K $400.0K $27.00K
YoY Change 116.67% 1381.48% 440.0%
Acquisitions
YoY Change
Other Investing Activities $4.080M $14.67M -$69.70M
YoY Change -144.25% -121.05%
Cash From Investing Activities $3.820M $14.27M -$69.73M
YoY Change -140.9% -120.46% 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 -720.0K -660.0K 129.7M
YoY Change -300.0% -100.51% 1754.79%
NET CHANGE
Cash From Operating Activities -14.52M -17.76M -11.09M
Cash From Investing Activities 3.820M 14.27M -69.73M
Cash From Financing Activities -720.0K -660.0K 129.7M
Net Change In Cash -11.42M -4.150M 48.83M
YoY Change -51.11% -108.5% 1549.66%
FREE CASH FLOW
Cash From Operating Activities -$14.52M -$17.76M -$11.09M
Capital Expenditures -$260.0K $400.0K $27.00K
Free Cash Flow -$14.26M -$18.16M -$11.12M
YoY Change 0.0% 63.35% 176.2%

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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'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>Use of Estimates</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'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 4%; -webkit-text-stroke-width: 0px"> 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 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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CY2016Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-4145000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
17857000
CY2016Q1 us-gaap Interest Expense
InterestExpense
160000
CY2016Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
14273000
CY2016Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-657000
CY2016Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12497000
CY2016Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
695000
CY2016Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2756000
CY2016Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
55000
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5360000
CY2016Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
13000
CY2016Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
49135000
CY2016Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4051000
CY2016Q1 us-gaap Depreciation
Depreciation
50000
CY2016Q1 zfgn Financial Covenants Under Credit Facility
FinancialCovenantsUnderCreditFacility
0
CY2016Q1 zfgn Increase Decrease In Tax Incentives Receivable
IncreaseDecreaseInTaxIncentivesReceivable
144000
CY2016Q1 zfgn Premium On Marketable Securities
PremiumOnMarketableSecurities
124000

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