$LRMR
Larimar Therapeutics, Inc.

2018 Q3 Form 10-Q Financial Statement

#000119312518244422 Filed on August 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 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 $3.340M $3.350M $3.010M
YoY Change 7.05% 11.3% -38.57%
% of Gross Profit
Research & Development $11.83M $12.21M $10.53M
YoY Change 21.67% 15.97% 3.59%
% of Gross Profit
Depreciation & Amortization $110.0K $50.00K $50.00K
YoY Change 120.0% 0.0% 0.0%
% of Gross Profit
Operating Expenses $15.17M $15.56M $13.54M
YoY Change 18.14% 14.95% -10.13%
Operating Profit -$15.17M -$15.56M -$13.54M
YoY Change 18.14% 14.95% -10.13%
Interest Expense $475.0K $466.0K $53.00K
YoY Change 1432.26% 779.25% -62.14%
% of Operating Profit
Other Income/Expense, Net $102.0K -$215.0K $189.0K
YoY Change -60.0% -213.76% 455.88%
Pretax Income -$15.07M -$15.78M -$13.35M
YoY Change 19.7% 18.2% -11.18%
Income Tax
% Of Pretax Income
Net Earnings -$15.07M -$15.78M -$13.35M
YoY Change 19.72% 18.19% -11.19%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$4.941M -$6.861M -$5.855M
COMMON SHARES
Basic Shares Outstanding 36.81M shares 27.56M shares 27.37M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $127.8M $75.85M $106.0M
YoY Change 37.19% -28.44% -29.56%
Cash & Equivalents $45.14M $40.75M $31.73M
Short-Term Investments $82.69M $35.10M $74.27M
Other Short-Term Assets $2.400M $1.300M $1.600M
YoY Change 20.0% -18.75% 23.08%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $131.5M $78.03M $108.0M
YoY Change 37.44% -27.72% -29.5%
LONG-TERM ASSETS
Property, Plant & Equipment $419.0K $472.0K $588.0K
YoY Change -23.96% -19.73% -53.18%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $57.00K $357.0K $58.00K
YoY Change 0.0% 515.52% -33.33%
Total Long-Term Assets $476.0K $1.767M $880.0K
YoY Change -21.71% 100.8% -47.43%
TOTAL ASSETS
Total Short-Term Assets $131.5M $78.03M $108.0M
Total Long-Term Assets $476.0K $1.767M $880.0K
Total Assets $131.9M $79.80M $108.8M
YoY Change 37.07% -26.68% -29.7%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.627M $3.010M $4.447M
YoY Change -1.83% -32.31% 72.3%
Accrued Expenses $4.901M $4.448M $2.709M
YoY Change 58.61% 64.19% -45.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.600M $1.800M $2.100M
YoY Change 176.92% -14.29% -32.26%
Total Short-Term Liabilities $11.16M $9.276M $9.219M
YoY Change 58.71% 0.62% -13.14%
LONG-TERM LIABILITIES
Long-Term Debt $16.80M $18.50M $0.00
YoY Change -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $16.80M $18.50M $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.16M $9.276M $9.219M
Total Long-Term Liabilities $16.80M $18.50M $0.00
Total Liabilities $28.01M $27.78M $9.219M
YoY Change 298.18% 201.31% -26.76%
SHAREHOLDERS EQUITY
Retained Earnings -$336.4M -$321.3M -$263.9M
YoY Change 21.66% 21.75% 24.23%
Common Stock $440.3M $373.3M $363.6M
YoY Change 20.39% 2.69% 2.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $103.9M $52.02M $99.63M
YoY Change
Total Liabilities & Shareholders Equity $131.9M $79.80M $108.8M
YoY Change 37.07% -26.68% -29.7%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$15.07M -$15.78M -$13.35M
YoY Change 19.72% 18.19% -11.19%
Depreciation, Depletion And Amortization $110.0K $50.00K $50.00K
YoY Change 120.0% 0.0% 0.0%
Cash From Operating Activities -$13.07M -$13.31M -$10.18M
YoY Change 8.11% 30.75% -29.89%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$20.00K -$10.00K
YoY Change 700.0% 100.0% -96.15%
Acquisitions
YoY Change
Other Investing Activities -$47.36M $8.360M $13.99M
YoY Change -15886.67% -40.24% 242.89%
Cash From Investing Activities -$47.43M $8.340M $13.99M
YoY Change -17039.29% -40.39% 266.23%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 64.91M -20.00K -710.0K
YoY Change -8991.78% -97.18% -1.39%
NET CHANGE
Cash From Operating Activities -13.07M -13.31M -10.18M
Cash From Investing Activities -47.43M 8.340M 13.99M
Cash From Financing Activities 64.91M -20.00K -710.0K
Net Change In Cash 4.410M -4.990M 3.100M
YoY Change -135.17% -260.97% -127.15%
FREE CASH FLOW
Cash From Operating Activities -$13.07M -$13.31M -$10.18M
Capital Expenditures -$80.00K -$20.00K -$10.00K
Free Cash Flow -$12.99M -$13.29M -$10.17M
YoY Change 7.53% 30.68% -28.68%

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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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zfgn Public Offering Costs Included In Accounts Payable And Accrued Expenses
PublicOfferingCostsIncludedInAccountsPayableAndAccruedExpenses
196000
zfgn Premium On Marketable Securities
PremiumOnMarketableSecurities
3000
CY2017 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.03 pure
zfgn Net Proceeds From Sale Of Securities
NetProceedsFromSaleOfSecurities
333300000
CY2017Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2102000
CY2017Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-13325000
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.49
CY2017Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-5000
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3008000
CY2017Q2 us-gaap Interest Expense
InterestExpense
53000
CY2017Q2 us-gaap Investment Income Net
InvestmentIncomeNet
247000
CY2018Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12209000
CY2017Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
189000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-13347000
CY2017Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
22000
CY2017Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
22000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
13536000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13536000
CY2017Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2017Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10528000
CY2017Q2 us-gaap Revenues
Revenues
0
CY2017Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27407408 shares
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2671000
CY2018Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-15732000
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.57
CY2018Q2 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-73000
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3351000
CY2018Q2 us-gaap Interest Expense
InterestExpense
466000
CY2018Q2 us-gaap Investment Income Net
InvestmentIncomeNet
324000
CY2018Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-215000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-15775000
CY2018Q2 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
43000
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
43000
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
15560000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-15560000
CY2018Q2 us-gaap Revenues
Revenues
0
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
27565064 shares

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