$LRMR
Larimar Therapeutics, Inc.

2019 Q2 Form 10-Q Financial Statement

#000156459019030904 Filed on August 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.620M $3.350M
YoY Change 8.06% 11.3%
% of Gross Profit
Research & Development $3.128M $12.21M
YoY Change -74.38% 15.97%
% of Gross Profit
Depreciation & Amortization $60.00K $50.00K
YoY Change 20.0% 0.0%
% of Gross Profit
Operating Expenses $3.704M $15.56M
YoY Change -76.2% 14.95%
Operating Profit -$3.704M -$15.56M
YoY Change -76.2% 14.95%
Interest Expense $60.00K $466.0K
YoY Change -87.12% 779.25%
% of Operating Profit
Other Income/Expense, Net $61.00K -$215.0K
YoY Change -128.37% -213.76%
Pretax Income -$12.13M -$15.78M
YoY Change -23.13% 18.2%
Income Tax
% Of Pretax Income
Net Earnings -$3.704M -$15.78M
YoY Change -76.52% 18.19%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$3.900M -$6.861M
COMMON SHARES
Basic Shares Outstanding 27.56M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q2 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $91.66M $75.85M
YoY Change 20.84% -28.44%
Cash & Equivalents $37.24M $40.75M
Short-Term Investments $54.42M $35.10M
Other Short-Term Assets $800.0K $1.300M
YoY Change -38.46% -18.75%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $94.00M $78.03M
YoY Change 20.46% -27.72%
LONG-TERM ASSETS
Property, Plant & Equipment $968.0K $472.0K
YoY Change 105.08% -19.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $20.00K $357.0K
YoY Change -94.4% 515.52%
Total Long-Term Assets $9.883M $1.767M
YoY Change 459.31% 100.8%
TOTAL ASSETS
Total Short-Term Assets $94.00M $78.03M
Total Long-Term Assets $9.883M $1.767M
Total Assets $103.9M $79.80M
YoY Change 30.18% -26.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.056M $3.010M
YoY Change -31.69% -32.31%
Accrued Expenses $3.516M $4.448M
YoY Change -20.95% 64.19%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.300M $1.800M
YoY Change 305.56% -14.29%
Total Short-Term Liabilities $13.46M $9.276M
YoY Change 45.14% 0.62%
LONG-TERM LIABILITIES
Long-Term Debt $11.90M $18.50M
YoY Change -35.68%
Other Long-Term Liabilities $6.400M
YoY Change
Total Long-Term Liabilities $18.30M $18.50M
YoY Change -1.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.46M $9.276M
Total Long-Term Liabilities $18.30M $18.50M
Total Liabilities $31.70M $27.78M
YoY Change 14.12% 201.31%
SHAREHOLDERS EQUITY
Retained Earnings -$321.3M
YoY Change 21.75%
Common Stock $373.3M
YoY Change 2.69%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $543.0K $52.02M
YoY Change
Total Liabilities & Shareholders Equity $103.9M $79.80M
YoY Change 30.18% -26.68%

Cashflow Statement

Concept 2019 Q2 2018 Q2
OPERATING ACTIVITIES
Net Income -$3.704M -$15.78M
YoY Change -76.52% 18.19%
Depreciation, Depletion And Amortization $60.00K $50.00K
YoY Change 20.0% 0.0%
Cash From Operating Activities -$10.78M -$13.31M
YoY Change -19.01% 30.75%
INVESTING ACTIVITIES
Capital Expenditures -$410.0K -$20.00K
YoY Change 1950.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $13.82M $8.360M
YoY Change 65.31% -40.24%
Cash From Investing Activities $13.41M $8.340M
YoY Change 60.79% -40.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.820M -20.00K
YoY Change 9000.0% -97.18%
NET CHANGE
Cash From Operating Activities -10.78M -13.31M
Cash From Investing Activities 13.41M 8.340M
Cash From Financing Activities -1.820M -20.00K
Net Change In Cash 810.0K -4.990M
YoY Change -116.23% -260.97%
FREE CASH FLOW
Cash From Operating Activities -$10.78M -$13.31M
Capital Expenditures -$410.0K -$20.00K
Free Cash Flow -$10.37M -$13.29M
YoY Change -21.97% 30.68%

Facts In Submission

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<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;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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>
dei Entity Incorporation Date Of Incorporation
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CY2017Q4 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
20000000
CY2019Q2 zfgn Line Of Credit Facility Debt Default Minimum Amount
LineOfCreditFacilityDebtDefaultMinimumAmount
300000
CY2019Q2 us-gaap Notes Payable
NotesPayable
18181000
CY2018Q4 us-gaap Notes Payable
NotesPayable
20000000
CY2019Q2 zfgn Long Term Notes Payable Before Accretion
LongTermNotesPayableBeforeAccretion
10908000
CY2018Q4 zfgn Long Term Notes Payable Before Accretion
LongTermNotesPayableBeforeAccretion
14545000
CY2019Q2 us-gaap Debt Instrument Periodic Payment Terms Balloon Payment To Be Paid
DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid
945000
CY2018Q4 us-gaap Debt Instrument Periodic Payment Terms Balloon Payment To Be Paid
DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid
640000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3636000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
7273000
CY2019Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
7272000
CY2019Q2 us-gaap Long Term Debt
LongTermDebt
18181000
CY2019Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1875000
CY2018Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2671000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3951000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5137000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
508000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1090000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1120000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1143000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1165000
CY2019Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
6585000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
464000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
226000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
690000
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
120000
us-gaap Operating Lease Cost
OperatingLeaseCost
247000
CY2019Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
72000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
113000
CY2019Q2 us-gaap Sublease Income
SubleaseIncome
28000
us-gaap Sublease Income
SubleaseIncome
55000
CY2019Q2 us-gaap Lease Cost
LeaseCost
164000
us-gaap Lease Cost
LeaseCost
305000
CY2018Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
200000
CY2019Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.111
CY2019Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
94000
us-gaap Operating Lease Payments
OperatingLeasePayments
188000
CY2019Q2 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
299000
CY2019Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6518000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6518000
us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.03

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