$LRMR
Larimar Therapeutics, Inc.

2016 Q4 Form 10-Q Financial Statement

#000119312516764420 Filed on November 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q4 2016 Q3 2015 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 $3.200M $4.830M $5.550M
YoY Change -42.24% -12.97% 142.36%
% of Gross Profit
Research & Development $7.280M $10.00M $14.17M
YoY Change -58.89% -29.43% 17.35%
% of Gross Profit
Depreciation & Amortization $60.00K $50.00K $20.00K
YoY Change 50.0% 150.0%
% of Gross Profit
Operating Expenses $10.48M $14.83M $19.72M
YoY Change -54.94% -24.78% 37.3%
Operating Profit -$14.83M -$19.72M
YoY Change -24.78% 37.3%
Interest Expense $40.00K $132.0K $200.0K
YoY Change -42.86% -34.0% -6.1%
% of Operating Profit
Other Income/Expense, Net $156.0K -$167.0K
YoY Change -193.41% -49.09%
Pretax Income -$10.44M -$14.68M -$19.88M
YoY Change -54.94% -26.16% 35.33%
Income Tax
% Of Pretax Income
Net Earnings -$10.44M -$14.68M -$19.88M
YoY Change -54.94% -26.2% 35.37%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$4.579M -$6.439M -$8.796M
COMMON SHARES
Basic Shares Outstanding 27.33M shares 27.33M shares 27.12M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q4 2016 Q3 2015 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.2M $138.7M $204.0M
YoY Change -30.2% -32.02% 60.59%
Cash & Equivalents $32.35M $24.86M $38.76M
Short-Term Investments $96.84M $113.8M $165.2M
Other Short-Term Assets $1.400M $1.500M $1.800M
YoY Change -17.65% -16.67% 50.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $130.9M $141.6M $206.1M
YoY Change -30.41% -31.3% 59.18%
LONG-TERM ASSETS
Property, Plant & Equipment $661.0K $722.0K $303.0K
YoY Change -26.72% 138.28% 339.13%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $61.00K $84.00K $79.00K
YoY Change -35.11% 6.33% -19.39%
Total Long-Term Assets $722.0K $1.137M $1.357M
YoY Change -27.51% -16.21% 712.57%
TOTAL ASSETS
Total Short-Term Assets $130.9M $141.6M $206.1M
Total Long-Term Assets $722.0K $1.137M $1.357M
Total Assets $131.6M $142.7M $207.4M
YoY Change -30.4% -31.21% 60.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.572M $3.640M $4.151M
YoY Change -65.68% -12.31% 294.58%
Accrued Expenses $3.733M $4.580M $6.556M
YoY Change -38.92% -30.14% -33.68%
Deferred Revenue
YoY Change
Short-Term Debt $400.0K $0.00 $0.00
YoY Change
Long-Term Debt Due $3.200M $3.100M $2.900M
YoY Change 10.34% 6.9% 314.29%
Total Short-Term Liabilities $9.894M $11.34M $13.58M
YoY Change -40.19% -16.53% 16.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.200M $4.200M
YoY Change -100.0% -71.43% -38.24%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $1.200M $4.200M
YoY Change -100.0% -71.43% -38.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.894M $11.34M $13.58M
Total Long-Term Liabilities $0.00 $1.200M $4.200M
Total Liabilities $9.894M $12.54M $17.75M
YoY Change -50.52% -29.34% -3.76%
SHAREHOLDERS EQUITY
Retained Earnings -$237.5M -$227.1M -$156.5M
YoY Change 32.21% 45.12% 65.69%
Common Stock $359.4M $357.3M $346.2M
YoY Change 2.97% 3.21% 68.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $121.7M $130.2M $189.7M
YoY Change
Total Liabilities & Shareholders Equity $131.6M $142.7M $207.4M
YoY Change -30.4% -31.21% 60.02%

Cashflow Statement

Concept 2016 Q4 2016 Q3 2015 Q3
OPERATING ACTIVITIES
Net Income -$10.44M -$14.68M -$19.88M
YoY Change -54.94% -26.2% 35.37%
Depreciation, Depletion And Amortization $60.00K $50.00K $20.00K
YoY Change 50.0% 150.0%
Cash From Operating Activities -$8.670M -$11.03M -$16.14M
YoY Change -51.67% -31.66% 157.01%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 -$70.00K
YoY Change -100.0% -100.0% 133.33%
Acquisitions
YoY Change
Other Investing Activities $16.92M $16.44M -$28.43M
YoY Change 6.89% -157.83%
Cash From Investing Activities $16.92M $16.44M -$28.51M
YoY Change 9.44% -157.66% 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 -760.0K -580.0K -160.0K
YoY Change 10.14% 262.5% -82.02%
NET CHANGE
Cash From Operating Activities -8.670M -11.03M -16.14M
Cash From Investing Activities 16.92M 16.44M -28.51M
Cash From Financing Activities -760.0K -580.0K -160.0K
Net Change In Cash 7.490M 4.830M -44.81M
YoY Change -336.28% -110.78% 522.36%
FREE CASH FLOW
Cash From Operating Activities -$8.670M -$11.03M -$16.14M
Capital Expenditures $0.00 $0.00 -$70.00K
Free Cash Flow -$8.670M -$11.03M -$16.07M
YoY Change -50.63% -31.36% 157.12%

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us-gaap Use Of Estimates
UseOfEstimates
<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>
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
141366000
us-gaap Restructuring Costs
RestructuringCosts
1536000
dei Trading Symbol
TradingSymbol
ZFGN
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
32661000
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
200000
us-gaap Share Based Compensation
ShareBasedCompensation
8106000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27286323 shares
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2179000
zfgn Premium On Marketable Securities
PremiumOnMarketableSecurities
299000
zfgn Increase Decrease In Tax Incentives Receivable
IncreaseDecreaseInTaxIncentivesReceivable
250000
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.73
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2841000
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5546000
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-19855000
CY2015Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-110000
CY2015Q3 us-gaap Revenues
Revenues
0
CY2015Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
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 Operating Expenses
OperatingExpenses
19717000
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-19884000
CY2015Q3 us-gaap Interest Expense
InterestExpense
200000
CY2015Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
29000
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-19717000
CY2015Q3 us-gaap Investment Income Net
InvestmentIncomeNet
143000
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14171000
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27138667 shares
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.54
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2316000
CY2016Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4830000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-14727000
CY2016Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
58000
CY2016Q3 us-gaap Revenues
Revenues
0
CY2016Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
156000
CY2016Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
1356000
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-52000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
14831000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-14675000
CY2016Q3 us-gaap Interest Expense
InterestExpense
132000
CY2016Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-52000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-14831000
CY2016Q3 us-gaap Investment Income Net
InvestmentIncomeNet
230000
CY2016Q3 us-gaap Payments For Restructuring
PaymentsForRestructuring
297000
CY2016Q3 us-gaap Restructuring Charges
RestructuringCharges
1500000
CY2016Q3 us-gaap Restructuring Costs
RestructuringCosts
1536000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10001000
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27322907 shares

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zfgn-20160930.xml Edgar Link completed
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