$LRMR
Larimar Therapeutics, Inc.

2017 Q4 Form 10-Q Financial Statement

#000119312517335910 Filed on November 07, 2017

View on sec.gov

Income Statement

Concept 2017 Q4 2017 Q3 2016 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 $2.450M $3.120M $4.830M
YoY Change -23.44% -35.4% -12.97%
% of Gross Profit
Research & Development $10.91M $9.723M $10.00M
YoY Change 49.86% -2.78% -29.43%
% of Gross Profit
Depreciation & Amortization $50.00K $50.00K $50.00K
YoY Change -16.67% 0.0% 150.0%
% of Gross Profit
Operating Expenses $13.36M $12.84M $14.83M
YoY Change 27.52% -13.42% -24.78%
Operating Profit -$12.84M -$14.83M
YoY Change -13.42% -24.78%
Interest Expense $270.0K $31.00K $132.0K
YoY Change 575.0% -76.52% -34.0%
% of Operating Profit
Other Income/Expense, Net $255.0K $156.0K
YoY Change 63.46% -193.41%
Pretax Income -$13.09M -$12.59M -$14.68M
YoY Change 25.38% -14.24% -26.16%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$13.09M -$12.59M -$14.68M
YoY Change 25.38% -14.24% -26.2%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$5.716M -$5.498M -$6.439M
COMMON SHARES
Basic Shares Outstanding 27.49M shares 27.48M shares 27.33M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2017 Q4 2017 Q3 2016 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $102.1M $93.18M $138.7M
YoY Change -21.01% -32.8% -32.02%
Cash & Equivalents $40.78M $19.19M $24.86M
Short-Term Investments $61.28M $73.99M $113.8M
Other Short-Term Assets $1.900M $2.000M $1.500M
YoY Change 35.71% 33.33% -16.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $104.9M $95.66M $141.6M
YoY Change -19.84% -32.43% -31.3%
LONG-TERM ASSETS
Property, Plant & Equipment $528.0K $551.0K $722.0K
YoY Change -20.12% -23.68% 138.28%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $57.00K $57.00K $84.00K
YoY Change -6.56% -32.14% 6.33%
Total Long-Term Assets $585.0K $608.0K $1.137M
YoY Change -18.98% -46.53% -16.21%
TOTAL ASSETS
Total Short-Term Assets $104.9M $95.66M $141.6M
Total Long-Term Assets $585.0K $608.0K $1.137M
Total Assets $105.5M $96.26M $142.7M
YoY Change -19.84% -32.55% -31.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.020M $2.676M $3.640M
YoY Change 17.42% -26.48% -12.31%
Accrued Expenses $4.273M $3.090M $4.580M
YoY Change 14.47% -32.53% -30.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $0.00 $1.300M $3.100M
YoY Change -100.0% -58.06% 6.9%
Total Short-Term Liabilities $7.293M $7.034M $11.34M
YoY Change -26.29% -37.97% -16.53%
LONG-TERM LIABILITIES
Long-Term Debt $20.00M $0.00 $1.200M
YoY Change -100.0% -71.43%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $20.00M $0.00 $1.200M
YoY Change -100.0% -71.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.293M $7.034M $11.34M
Total Long-Term Liabilities $20.00M $0.00 $1.200M
Total Liabilities $27.29M $7.034M $12.54M
YoY Change 175.85% -43.9% -29.34%
SHAREHOLDERS EQUITY
Retained Earnings -$289.6M -$276.5M -$227.1M
YoY Change 21.9% 21.74% 45.12%
Common Stock $367.9M $365.8M $357.3M
YoY Change 2.36% 2.35% 3.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $78.22M $89.23M $130.2M
YoY Change
Total Liabilities & Shareholders Equity $105.5M $96.26M $142.7M
YoY Change -19.84% -32.55% -31.21%

Cashflow Statement

Concept 2017 Q4 2017 Q3 2016 Q3
OPERATING ACTIVITIES
Net Income -$13.09M -$12.59M -$14.68M
YoY Change 25.38% -14.24% -26.2%
Depreciation, Depletion And Amortization $50.00K $50.00K $50.00K
YoY Change -16.67% 0.0% 150.0%
Cash From Operating Activities -$9.830M -$12.09M -$11.03M
YoY Change 13.38% 9.61% -31.66%
INVESTING ACTIVITIES
Capital Expenditures -$30.00K -$10.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $12.71M $300.0K $16.44M
YoY Change -24.88% -98.18% -157.83%
Cash From Investing Activities $12.69M $280.0K $16.44M
YoY Change -25.0% -98.3% -157.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 18.73M -730.0K -580.0K
YoY Change -2564.47% 25.86% 262.5%
NET CHANGE
Cash From Operating Activities -9.830M -12.09M -11.03M
Cash From Investing Activities 12.69M 280.0K 16.44M
Cash From Financing Activities 18.73M -730.0K -580.0K
Net Change In Cash 21.59M -12.54M 4.830M
YoY Change 188.25% -359.63% -110.78%
FREE CASH FLOW
Cash From Operating Activities -$9.830M -$12.09M -$11.03M
Capital Expenditures -$30.00K -$10.00K $0.00
Free Cash Flow -$9.800M -$12.08M -$11.03M
YoY Change 13.03% 9.52% -31.36%

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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 as of the date of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed 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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32661000
us-gaap Revenues
Revenues
0
us-gaap Share Based Compensation
ShareBasedCompensation
8106000
CY2016 us-gaap Payments For Restructuring
PaymentsForRestructuring
847000
CY2016 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
1223000
zfgn Net Proceeds From Sale Of Securities
NetProceedsFromSaleOfSecurities
333300000
CY2016Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2316000
CY2016Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-14727000
CY2016Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.54
CY2016Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
58000
CY2016Q3 us-gaap Operating Expenses
OperatingExpenses
14831000
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
-14675000
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-14831000
CY2016Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
156000
CY2016Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-52000
CY2016Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-52000
CY2016Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2016Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10001000
CY2016Q3 us-gaap Revenues
Revenues
0
CY2016Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27322907 shares
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.46
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2096000
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12572000
CY2017Q3 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
20000
CY2017Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3117000
CY2017Q3 us-gaap Interest Expense
InterestExpense
31000
CY2017Q3 us-gaap Investment Income Net
InvestmentIncomeNet
266000
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
12840000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-12585000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-12840000
CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
255000
CY2017Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
13000
CY2017Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
13000
CY2017Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9723000
CY2017Q3 us-gaap Revenues
Revenues
0
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27483550 shares

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