$LRMR
Larimar Therapeutics, Inc.

2018 Q4 Form 10-Q Financial Statement

#000156459018028944 Filed on November 09, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 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 $3.230M $3.340M $3.120M
YoY Change 31.84% 7.05% -35.4%
% of Gross Profit
Research & Development $11.46M $11.83M $9.723M
YoY Change 5.04% 21.67% -2.78%
% of Gross Profit
Depreciation & Amortization $50.00K $110.0K $50.00K
YoY Change 0.0% 120.0% 0.0%
% of Gross Profit
Operating Expenses $14.69M $15.17M $12.84M
YoY Change 9.98% 18.14% -13.42%
Operating Profit -$15.17M -$12.84M
YoY Change 18.14% -13.42%
Interest Expense $120.0K $475.0K $31.00K
YoY Change -55.56% 1432.26% -76.52%
% of Operating Profit
Other Income/Expense, Net $102.0K $255.0K
YoY Change -60.0% 63.46%
Pretax Income -$14.57M -$15.07M -$12.59M
YoY Change 11.31% 19.7% -14.24%
Income Tax
% Of Pretax Income
Net Earnings -$14.57M -$15.07M -$12.59M
YoY Change 11.31% 19.72% -14.24%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$4.715M -$4.941M -$5.498M
COMMON SHARES
Basic Shares Outstanding 36.87M 36.81M shares 27.48M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.1M $127.8M $93.18M
YoY Change 15.69% 37.19% -32.8%
Cash & Equivalents $49.33M $45.14M $19.19M
Short-Term Investments $68.74M $82.69M $73.99M
Other Short-Term Assets $1.700M $2.400M $2.000M
YoY Change -10.53% 20.0% 33.33%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $121.3M $131.5M $95.66M
YoY Change 15.63% 37.44% -32.43%
LONG-TERM ASSETS
Property, Plant & Equipment $375.0K $419.0K $551.0K
YoY Change -28.98% -23.96% -23.68%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $57.00K $57.00K $57.00K
YoY Change 0.0% 0.0% -32.14%
Total Long-Term Assets $432.0K $476.0K $608.0K
YoY Change -26.15% -21.71% -46.53%
TOTAL ASSETS
Total Short-Term Assets $121.3M $131.5M $95.66M
Total Long-Term Assets $432.0K $476.0K $608.0K
Total Assets $121.8M $131.9M $96.26M
YoY Change 15.4% 37.07% -32.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.590M $2.627M $2.676M
YoY Change 18.87% -1.83% -26.48%
Accrued Expenses $4.261M $4.901M $3.090M
YoY Change -0.28% 58.61% -32.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $5.500M $3.600M $1.300M
YoY Change 176.92% -58.06%
Total Short-Term Liabilities $13.31M $11.16M $7.034M
YoY Change 82.45% 58.71% -37.97%
LONG-TERM LIABILITIES
Long-Term Debt $15.20M $16.80M $0.00
YoY Change -24.0% -100.0%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $15.20M $16.80M $0.00
YoY Change -24.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.31M $11.16M $7.034M
Total Long-Term Liabilities $15.20M $16.80M $0.00
Total Liabilities $28.49M $28.01M $7.034M
YoY Change 4.39% 298.18% -43.9%
SHAREHOLDERS EQUITY
Retained Earnings -$350.9M -$336.4M -$276.5M
YoY Change 21.19% 21.66% 21.74%
Common Stock $444.2M $440.3M $365.8M
YoY Change 20.77% 20.39% 2.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.914M $103.9M $89.23M
YoY Change
Total Liabilities & Shareholders Equity $121.8M $131.9M $96.26M
YoY Change 15.4% 37.07% -32.55%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$14.57M -$15.07M -$12.59M
YoY Change 11.31% 19.72% -14.24%
Depreciation, Depletion And Amortization $50.00K $110.0K $50.00K
YoY Change 0.0% 120.0% 0.0%
Cash From Operating Activities -$11.84M -$13.07M -$12.09M
YoY Change 20.45% 8.11% 9.61%
INVESTING ACTIVITIES
Capital Expenditures -$10.00K -$80.00K -$10.00K
YoY Change -66.67% 700.0%
Acquisitions
YoY Change
Other Investing Activities $14.28M -$47.36M $300.0K
YoY Change 12.35% -15886.67% -98.18%
Cash From Investing Activities $14.26M -$47.43M $280.0K
YoY Change 12.37% -17039.29% -98.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.760M 64.91M -730.0K
YoY Change -90.6% -8991.78% 25.86%
NET CHANGE
Cash From Operating Activities -11.84M -13.07M -12.09M
Cash From Investing Activities 14.26M -47.43M 280.0K
Cash From Financing Activities 1.760M 64.91M -730.0K
Net Change In Cash 4.180M 4.410M -12.54M
YoY Change -80.64% -135.17% -359.63%
FREE CASH FLOW
Cash From Operating Activities -$11.84M -$13.07M -$12.09M
Capital Expenditures -$10.00K -$80.00K -$10.00K
Free Cash Flow -$11.83M -$12.99M -$12.08M
YoY Change 20.71% 7.53% 9.52%

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<div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">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&#8217;s estimates. </p></div>
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CY2018Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2018Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
28000
CY2017Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
61333000
CY2017Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2017Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
58000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5454000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
7273000
CY2017Q4 zfgn Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
1647000
CY2018Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1651000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2229000
CY2018Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
290000
CY2018Q3 zfgn Accrued Research And Development Expense Current
AccruedResearchAndDevelopmentExpenseCurrent
2780000
CY2018Q3 us-gaap Long Term Debt
LongTermDebt
20000000
CY2017Q4 us-gaap Long Term Debt
LongTermDebt
20000000
CY2018Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
500000
CY2018Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2200000
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2096000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7337000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6199000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
122000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
464000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
226000
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
0
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
812000
CY2018Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2017Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
300000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
300000
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.03

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