$LTRN
Lantern Pharma Inc

2022 Q3 Form 10-Q Financial Statement

#000149315222021610 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 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 $1.443M $1.406M $1.406M
YoY Change 21.82% 6.99% 20.18%
% of Gross Profit
Research & Development $702.3K $2.989M $2.660M
YoY Change -76.31% 156.58% 107.83%
% of Gross Profit
Depreciation & Amortization $2.950K $2.380K $1.990K
YoY Change 59.46% -18.49%
% of Gross Profit
Operating Expenses $2.145M $4.395M $4.066M
YoY Change -48.29% 77.28% 65.98%
Operating Profit -$2.145M -$4.395M -$4.066M
YoY Change -48.29% 77.28%
Interest Expense $52.22K $55.03K $22.42K
YoY Change -32.38% 4.6%
% of Operating Profit
Other Income/Expense, Net -$171.6K -$152.6K -$77.80K
YoY Change -1070.86% -233.01%
Pretax Income -$2.265M -$4.492M -$4.122M
YoY Change -44.14% 93.93% 68.24%
Income Tax
% Of Pretax Income
Net Earnings -$2.265M -$4.492M -$4.122M
YoY Change -44.14% 93.93% 68.08%
Net Earnings / Revenue
Basic Earnings Per Share -$0.21 -$0.41 -$0.38
Diluted Earnings Per Share -$208.9K -$414.8K -$379.0K
COMMON SHARES
Basic Shares Outstanding 10.83M shares 10.83M shares 10.88M shares
Diluted Shares Outstanding 10.84M shares 10.83M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $57.83M $62.15M $65.22M
YoY Change -21.68% -21.91% -19.85%
Cash & Equivalents $39.26M $43.36M $46.65M
Short-Term Investments $18.57M $18.79M $18.56M
Other Short-Term Assets $4.193M $3.513M $2.447M
YoY Change 67.45% 38.19% 120.42%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $62.02M $65.66M $67.66M
YoY Change -18.75% -20.05% -17.96%
LONG-TERM ASSETS
Property, Plant & Equipment $43.81K $40.05K $180.3K
YoY Change -82.59% -85.85% 801.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $17.89K $17.89K $559.1K
YoY Change -98.24% -0.01%
Total Long-Term Assets $144.6K $716.8K $739.4K
YoY Change -88.61% 138.15% 3596.8%
TOTAL ASSETS
Total Short-Term Assets $62.02M $65.66M $67.66M
Total Long-Term Assets $144.6K $716.8K $739.4K
Total Assets $62.16M $66.38M $68.40M
YoY Change -19.9% -19.47% -17.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.047M $5.174M $2.919M
YoY Change 86.17% 373.0% 342.22%
Accrued Expenses $92.02K $130.7K $155.2K
YoY Change -38.23% -10.41%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.139M $5.304M $3.074M
YoY Change 75.79% 97.32% 365.73%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $0.00 $0.00 $13.30K
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00 $13.30K
YoY Change -100.0% -100.0% -87.91%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.139M $5.304M $3.074M
Total Long-Term Liabilities $0.00 $0.00 $13.30K
Total Liabilities $3.139M $5.304M $3.087M
YoY Change 67.18% 88.17% 300.93%
SHAREHOLDERS EQUITY
Retained Earnings -$35.90M -$33.64M
YoY Change
Common Stock $1.086K $1.083K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $59.03M $61.08M $65.32M
YoY Change
Total Liabilities & Shareholders Equity $62.16M $66.38M $68.40M
YoY Change -19.9% -19.47% -17.09%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.265M -$4.492M -$4.122M
YoY Change -44.14% 93.93% 68.08%
Depreciation, Depletion And Amortization $2.950K $2.380K $1.990K
YoY Change 59.46% -18.49%
Cash From Operating Activities -$4.038M -$2.733M -$3.328M
YoY Change -13.76% 57.96% 55.5%
INVESTING ACTIVITIES
Capital Expenditures -$6.710K -$14.18K
YoY Change 92.26% 18.07%
Acquisitions
YoY Change
Other Investing Activities -$67.65K -$511.6K $176.5K
YoY Change -93.23% -97.2%
Cash From Investing Activities -$74.36K -$525.7K $176.5K
YoY Change -92.58% -97.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000 -2.183M
YoY Change -100.0% -103.39%
NET CHANGE
Cash From Operating Activities -4.038M -2.733M -3.328M
Cash From Investing Activities -74.36K -525.7K 176.5K
Cash From Financing Activities 0.000 0.000 -2.183M
Net Change In Cash -4.113M -3.258M -5.334M
YoY Change -27.66% -83.73% -108.58%
FREE CASH FLOW
Cash From Operating Activities -$4.038M -$2.733M -$3.328M
Capital Expenditures -$6.710K -$14.18K
Free Cash Flow -$4.032M -$2.718M -$3.328M
YoY Change -13.84% 58.24%

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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4374 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2923 usd
LTRN Noncash Lease Adjustments
NoncashLeaseAdjustments
72300 usd
LTRN Noncash Lease Adjustments
NoncashLeaseAdjustments
24100 usd
us-gaap Share Based Compensation
ShareBasedCompensation
556537 usd
us-gaap Share Based Compensation
ShareBasedCompensation
491203 usd
us-gaap Investment Income Amortization Of Premium
InvestmentIncomeAmortizationOfPremium
67510 usd
LTRN Gain On Loan Forgiveness
GainOnLoanForgiveness
109223 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-63987 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-78298 usd
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
17889 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-6060364 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3869927 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14178 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12014 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
2004731 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
18282105 usd
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
1669680 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-349229 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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LTRN Proceeds From Issuance Of Common And Preferred Stock
ProceedsFromIssuanceOfCommonAndPreferredStock
68999994 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
4783816 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
2482286 usd
LTRN Proceeds From Stock Option And Warrant Exercises
ProceedsFromStockOptionAndWarrantExercises
299788 usd
LTRN Proceeds From Stock Option And Warrant Exercises
ProceedsFromStockOptionAndWarrantExercises
72753 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2182498 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
64288931 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-28156 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8620247 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
42124885 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
52524295 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
19229232 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
43904048 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
61354117 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
43362868 usd
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61354117 usd
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
541180 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
43904048 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
61354117 usd
LTRN Application Of Deferred Offering Costs To Public Offering Proceeds
ApplicationOfDeferredOfferingCostsToPublicOfferingProceeds
-49324 usd
us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
-276271 usd
us-gaap Debt Securities Unrealized Gain Loss
DebtSecuritiesUnrealizedGainLoss
-47565 usd
us-gaap Net Income Loss
NetIncomeLoss
-8614000 usd
us-gaap Net Income Loss
NetIncomeLoss
-4769000 usd
CY2022Q2 LTRN Working Capital
WorkingCapital
60359000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_846_eus-gaap--UseOfEstimates_zONZqppPquOf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_866_zu8fUutZA137">Use of Estimates and Assumptions</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 revenues and expenses during the reporting period. The significant areas of estimation include determining research and development accruals and the inputs in determining the fair value of equity-based awards and warrants issued. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84C_eus-gaap--ConcentrationRiskCreditRisk_zKexSalLPosc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zP5AK8Pd5BZ9">Risks and Uncertainties</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company operates in an industry that is subject to intense competition, government regulation and rapid technological change. Operations are subject to significant risk and uncertainties including financial, operational, technological, regulatory, and other risks, including the potential risk of business failure.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The extent of the impact and effects of the coronavirus (COVID-19) on the operation and financial performance of the Company’s business will depend on future developments, including the duration and spread of the outbreak and varying virus mutations, related travel advisories and restrictions, the recovery time of disrupted research services, the consequential staff shortages, and research and development delays, or the uncertainty with respect to the accessibility of additional liquidity or capital markets, all of which are highly uncertain and cannot be predicted. If the Company’s operations are impacted by the outbreak for an extended period, the Company’s results of operations or liquidity may be materially adversely affected.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3513000 usd
CY2022Q2 LTRN Upfront Payments For Contractor Fees Academic Research Studies And Services And Subscriptions
UpfrontPaymentsForContractorFeesAcademicResearchStudiesAndServicesAndSubscriptions
1848000 usd
CY2022Q2 LTRN Intellectual Property Related Licensing And Other Fees
IntellectualPropertyRelatedLicensingAndOtherFees
313000 usd
CY2022Q2 LTRN Prepaid Insurance Fees
PrepaidInsuranceFees
1014000 usd
CY2022Q2 us-gaap Interest Receivable
InterestReceivable
339000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
939940 shares
CY2022Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
39000 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
78000 usd
CY2021Q2 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
27000 usd
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
29000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
117699 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
185943 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
130705 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
152058 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
52890 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
130705 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
204948 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
80104 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2802 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
53403 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
133507 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
130705 usd
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
130705 usd
LTRN Lease Expiration Date
LeaseExpirationDate
The leases expire in April 2023
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M29D
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M29D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0465 pure
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0465 pure
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
61000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
300000 usd
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.13
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
25000000 shares
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
10830947 shares
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
10830947 shares
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
11088835 shares
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
11088835 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
177998 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
273777 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
890826 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.54
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
55000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.12
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
5886 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
12.95
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.48
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
11782 shares
CY2022Q2 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
4231489 usd
CY2022Q2 LTRN Available For Sale Securities Debt Maturities Rolling Year One Through Two Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearOneThroughTwoFairValue
7477495 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
1489445 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
13198429 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
18786629 usd
CY2022Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
806802 usd
CY2022Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1500000 usd
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1670000 usd
CY2022Q2 us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
42000 usd
us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
49000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
18786629 usd
CY2020Q2 us-gaap Proceeds From Loan Originations1
ProceedsFromLoanOriginations1
108500 usd
CY2020Q2 us-gaap Debt Instrument Description
DebtInstrumentDescription
the PPP Loan bore interest at a fixed rate of one percent (1.0%) per annum. Payments of principal and interest were deferred for the first six months following the Origination Date, and the PPP Loan provided that it would mature two years after the Origination Date. The guidance under the Paycheck Protection Program was later updated so that payments of principal and interest were extended past the current fiscal year and maturity was extended past two years.
CY2020Q2 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.010 pure
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1117938 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1125862 shares

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