$LRMR
Larimar Therapeutics, Inc.

2016 Q3 Form 10-Q Financial Statement

#000119312516672131 Filed on August 05, 2016

View on sec.gov

Income Statement

Concept 2016 Q3 2016 Q2 2015 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.830M $4.900M $5.080M
YoY Change -12.97% -3.54% 293.8%
% of Gross Profit
Research & Development $10.00M $10.16M $12.53M
YoY Change -29.43% -18.86% 166.79%
% of Gross Profit
Depreciation & Amortization $50.00K $50.00K $0.00
YoY Change 150.0% -100.0%
% of Gross Profit
Operating Expenses $14.83M $15.06M $17.61M
YoY Change -24.78% -14.47% 194.19%
Operating Profit -$14.83M -$15.06M -$17.61M
YoY Change -24.78% -14.47% 194.19%
Interest Expense $132.0K $140.0K $213.0K
YoY Change -34.0% -34.27% -51.92%
% of Operating Profit
Other Income/Expense, Net $156.0K $34.00K -$146.0K
YoY Change -193.41% -123.29% -64.73%
Pretax Income -$14.68M -$15.03M -$17.76M
YoY Change -26.16% -15.37% 177.5%
Income Tax
% Of Pretax Income
Net Earnings -$14.68M -$15.03M -$17.76M
YoY Change -26.2% -15.36% 177.44%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$6.439M -$6.621M -$7.893M
COMMON SHARES
Basic Shares Outstanding 27.33M shares 27.27M shares 26.89M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q3 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $138.7M $150.5M $220.1M
YoY Change -32.02% -31.64% 64.01%
Cash & Equivalents $24.86M $20.03M $83.57M
Short-Term Investments $113.8M $130.4M $136.5M
Other Short-Term Assets $1.500M $1.300M $1.100M
YoY Change -16.67% 18.18% -21.43%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $141.6M $153.2M $221.6M
YoY Change -31.3% -30.9% 61.98%
LONG-TERM ASSETS
Property, Plant & Equipment $722.0K $1.256M $215.0K
YoY Change 138.28% 484.19% 411.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $84.00K $87.00K $84.00K
YoY Change 6.33% 3.57% -19.23%
Total Long-Term Assets $1.137M $1.674M $972.0K
YoY Change -16.21% 72.22% 565.75%
TOTAL ASSETS
Total Short-Term Assets $141.6M $153.2M $221.6M
Total Long-Term Assets $1.137M $1.674M $972.0K
Total Assets $142.7M $154.8M $222.6M
YoY Change -31.21% -30.45% 62.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.640M $2.581M $4.297M
YoY Change -12.31% -39.93% 108.9%
Accrued Expenses $4.580M $4.976M $4.441M
YoY Change -30.14% 12.05% 117.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.100M $3.100M $2.800M
YoY Change 6.9% 10.71%
Total Short-Term Liabilities $11.34M $10.61M $11.56M
YoY Change -16.53% -8.17% 181.76%
LONG-TERM LIABILITIES
Long-Term Debt $1.200M $2.000M $4.900M
YoY Change -71.43% -59.18% -33.78%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.200M $2.000M $4.900M
YoY Change -71.43% -59.18% -33.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.34M $10.61M $11.56M
Total Long-Term Liabilities $1.200M $2.000M $4.900M
Total Liabilities $12.54M $12.59M $16.41M
YoY Change -29.34% -23.29% 42.08%
SHAREHOLDERS EQUITY
Retained Earnings -$227.1M -$212.4M -$136.6M
YoY Change 45.12% 55.5% 71.27%
Common Stock $357.3M $354.7M $342.9M
YoY Change 3.21% 3.45% 67.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $130.2M $142.2M $206.2M
YoY Change
Total Liabilities & Shareholders Equity $142.7M $154.8M $222.6M
YoY Change -31.21% -30.45% 62.52%

Cashflow Statement

Concept 2016 Q3 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$14.68M -$15.03M -$17.76M
YoY Change -26.2% -15.36% 177.44%
Depreciation, Depletion And Amortization $50.00K $50.00K $0.00
YoY Change 150.0% -100.0%
Cash From Operating Activities -$11.03M -$14.52M -$14.38M
YoY Change -31.66% 0.97% 130.82%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$260.0K -$120.0K
YoY Change -100.0% 116.67%
Acquisitions
YoY Change
Other Investing Activities $16.44M $4.080M -$9.220M
YoY Change -157.83% -144.25% 15266.67%
Cash From Investing Activities $16.44M $3.820M -$9.340M
YoY Change -157.66% -140.9% 15466.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -580.0K -720.0K 360.0K
YoY Change 262.5% -300.0% -99.65%
NET CHANGE
Cash From Operating Activities -11.03M -14.52M -14.38M
Cash From Investing Activities 16.44M 3.820M -9.340M
Cash From Financing Activities -580.0K -720.0K 360.0K
Net Change In Cash 4.830M -11.42M -23.36M
YoY Change -110.78% -51.11% -124.4%
FREE CASH FLOW
Cash From Operating Activities -$11.03M -$14.52M -$14.38M
Capital Expenditures $0.00 -$260.0K -$120.0K
Free Cash Flow -$11.03M -$14.26M -$14.26M
YoY Change -31.36% 0.0% 128.89%

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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 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 Repayments Of Notes Payable
RepaymentsOfNotesPayable
1438000
zfgn Premium On Marketable Securities
PremiumOnMarketableSecurities
233000
zfgn Increase Decrease In Tax Incentives Receivable
IncreaseDecreaseInTaxIncentivesReceivable
250000
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.66
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1939000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5084000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-17777000
CY2015Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
4000
CY2015Q2 us-gaap Revenues
Revenues
0
CY2015Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2015Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-146000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-21000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
17610000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-17756000
CY2015Q2 us-gaap Interest Expense
InterestExpense
213000
CY2015Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-21000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-17610000
CY2015Q2 us-gaap Investment Income Net
InvestmentIncomeNet
63000
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12526000
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27011960 shares
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.55
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2854000
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4899000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15043000
CY2016Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-51000
CY2016Q2 us-gaap Revenues
Revenues
0
CY2016Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
34000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-15000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
15062000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-15028000
CY2016Q2 us-gaap Interest Expense
InterestExpense
140000
CY2016Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-15000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-15062000
CY2016Q2 us-gaap Investment Income Net
InvestmentIncomeNet
225000
CY2016Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10163000
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27272225 shares

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