$LRMR
Larimar Therapeutics, Inc.

2019 Q3 Form 10-Q Financial Statement

#000156459020053618 Filed on November 12, 2020

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2019 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.630M $3.620M $3.650M
YoY Change 8.68% 8.06% 11.62%
% of Gross Profit
Research & Development $5.260M $3.128M $9.630M
YoY Change -55.54% -74.38% -22.54%
% of Gross Profit
Depreciation & Amortization $80.00K $60.00K $51.00K
YoY Change -27.27% 20.0% 2.0%
% of Gross Profit
Operating Expenses $12.91M $3.704M $13.28M
YoY Change -14.92% -76.2% -15.44%
Operating Profit -$3.704M -$13.28M
YoY Change -76.2% -15.44%
Interest Expense $426.0K $60.00K $500.0K
YoY Change -10.32% -87.12% 9.17%
% of Operating Profit
Other Income/Expense, Net -$8.000K $61.00K $165.0K
YoY Change -107.84% -128.37% -164.96%
Pretax Income -$12.91M -$12.13M -$13.11M
YoY Change -14.33% -23.13% -17.86%
Income Tax
% Of Pretax Income
Net Earnings -$12.91M -$3.704M -$4.724M
YoY Change -14.29% -76.52% -70.39%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$4.151M -$3.900M -$4.215M
COMMON SHARES
Basic Shares Outstanding 37.32M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $82.00M $91.66M $104.7M
YoY Change -35.85% 20.84% 17.55%
Cash & Equivalents $5.515M $37.24M $37.76M
Short-Term Investments $38.70M $54.42M $68.20M
Other Short-Term Assets $1.200M $800.0K $1.300M
YoY Change -50.0% -38.46% -7.14%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $83.40M $94.00M $107.5M
YoY Change -36.56% 20.46% 17.59%
LONG-TERM ASSETS
Property, Plant & Equipment $8.100M $968.0K $1.200M
YoY Change 1833.17% 105.08% 150.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.400M $20.00K $57.00K
YoY Change 2356.14% -94.4% -56.82%
Total Long-Term Assets $9.500M $9.883M $2.685M
YoY Change 1895.8% 459.31% 125.25%
TOTAL ASSETS
Total Short-Term Assets $83.40M $94.00M $107.5M
Total Long-Term Assets $9.500M $9.883M $2.685M
Total Assets $92.90M $103.9M $110.2M
YoY Change -29.59% 30.18% 18.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.300M $2.056M $3.156M
YoY Change 25.62% -31.69% -16.86%
Accrued Expenses $5.700M $3.516M $3.300M
YoY Change 16.3% -20.95% -9.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $7.300M $7.300M $7.300M
YoY Change 102.78% 305.56%
Total Short-Term Liabilities $16.34M $13.46M $13.73M
YoY Change 46.35% 45.14% 84.1%
LONG-TERM LIABILITIES
Long-Term Debt $10.20M $11.90M $13.50M
YoY Change -39.29% -35.68% -33.17%
Other Long-Term Liabilities $6.500M $6.400M $600.0K
YoY Change
Total Long-Term Liabilities $16.70M $18.30M $14.10M
YoY Change -0.6% -1.08% -30.2%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.34M $13.46M $13.73M
Total Long-Term Liabilities $16.70M $18.30M $14.10M
Total Liabilities $33.00M $31.70M $27.80M
YoY Change 17.82% 14.12% 0.66%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.897M $543.0K $1.224M
YoY Change
Total Liabilities & Shareholders Equity $92.89M $103.9M $110.2M
YoY Change -29.6% 30.18% 18.99%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income -$12.91M -$3.704M -$4.724M
YoY Change -14.29% -76.52% -70.39%
Depreciation, Depletion And Amortization $80.00K $60.00K $51.00K
YoY Change -27.27% 20.0% 2.0%
Cash From Operating Activities -$7.730M -$10.78M -$12.47M
YoY Change -40.86% -19.01% -5.99%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$410.0K $2.000K
YoY Change -12.5% 1950.0% 100.0%
Acquisitions
YoY Change
Other Investing Activities $15.67M $13.82M $810.0K
YoY Change -133.09% 65.31% -95.49%
Cash From Investing Activities $15.60M $13.41M $807.0K
YoY Change -132.89% 60.79% -95.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.780M -1.820M 95.00K
YoY Change -102.74% 9000.0% -63.6%
NET CHANGE
Cash From Operating Activities -7.730M -10.78M -12.47M
Cash From Investing Activities 15.60M 13.41M 807.0K
Cash From Financing Activities -1.780M -1.820M 95.00K
Net Change In Cash 6.090M 810.0K -11.57M
YoY Change 38.1% -116.23% -333.53%
FREE CASH FLOW
Cash From Operating Activities -$7.730M -$10.78M -$12.47M
Capital Expenditures -$70.00K -$410.0K $2.000K
Free Cash Flow -$7.660M -$10.37M -$12.47M
YoY Change -41.03% -21.97% -5.98%

Facts In Submission

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<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:5.24%;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 and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual of research and development expense, valuation of stock-based awards and valuation of leases. Due to inherent uncertainty involved in making estimates, actual results reported in future periods may be affected by changes in these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions. </p>
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77.63
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
22.33
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
48.21
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
22.33
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M0D
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
100000
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
13600000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y7M28D
CY2020Q3 lrmr Milestone Expenses
MilestoneExpenses
0
CY2019Q3 lrmr Milestone Expenses
MilestoneExpenses
0
lrmr Milestone Expenses
MilestoneExpenses
0
lrmr Milestone Expenses
MilestoneExpenses
0
CY2020Q3 lrmr Milestone Liability
MilestoneLiability
0
CY2019Q3 lrmr Milestone Liability
MilestoneLiability
0
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y9M18D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M18D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.110
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.120
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
300000
us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
320000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1177000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1197000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1146000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1065000
CY2020Q3 lrmr Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
5397000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
10302000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3639000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
6663000

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