$LUMO
Lumos Pharma Inc

2024 Q4 Form 10-Q Financial Statement

#000112623424000097 Filed on November 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $726.0K
YoY Change 10271.43%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $4.153M
YoY Change -17.7%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $8.366M
YoY Change -6.41%
Operating Profit -$7.640M
YoY Change -14.46%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $173.0K
YoY Change -72.63%
Pretax Income -$7.467M
YoY Change -10.04%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$7.467M
YoY Change -10.04%
Net Earnings / Revenue -1028.51%
Basic Earnings Per Share -$0.90
Diluted Earnings Per Share -$0.90
COMMON SHARES
Basic Shares Outstanding 8.649M shares 8.124M shares
Diluted Shares Outstanding 8.327M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $13.50M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables $174.0K
Total Short-Term Assets $17.27M
YoY Change -63.59%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $187.0K
YoY Change -38.49%
TOTAL ASSETS
Total Short-Term Assets $17.27M
Total Long-Term Assets $187.0K
Total Assets $17.46M
YoY Change -63.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.455M
YoY Change 198.16%
Accrued Expenses $4.920M
YoY Change -10.58%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.505M
YoY Change 6.36%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.505M
Total Long-Term Liabilities
Total Liabilities $12.55M
YoY Change 2.35%
SHAREHOLDERS EQUITY
Retained Earnings -$187.0M
YoY Change 22.95%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.914M
YoY Change
Total Liabilities & Shareholders Equity $17.46M
YoY Change -63.43%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$7.467M
YoY Change -10.04%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Type
DocumentType
10-Q
dei Entity File Number
EntityFileNumber
001-35342
dei Entity Central Index Key
EntityCentralIndexKey
0001126234
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Security12b Title
Security12bTitle
Common Stock
dei Trading Symbol
TradingSymbol
LUMO
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.11
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8179341 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8179341 shares
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8327488 shares
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8327488 shares
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.90
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.90
dei Document Transition Report
DocumentTransitionReport
false
dei Entity Registrant Name
EntityRegistrantName
LUMOS PHARMA, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Address City Or Town
EntityAddressCityOrTown
Austin
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.01
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8161904 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8161904 shares
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1798000 usd
dei Document Period End Date
DocumentPeriodEndDate
2024-09-30
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
dei Entity Address State Or Province
EntityAddressStateOrProvince
TX
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
78756
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Shell Company
EntityShellCompany
false
CY2024Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
8648618 shares
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13519000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35078000 usd
CY2023Q4 us-gaap Short Term Investments
ShortTermInvestments
999000 usd
CY2024Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3581000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3748000 usd
CY2024Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
174000 usd
CY2024Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
1455000 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
890000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
4920000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5858000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
282000 usd
CY2024Q3 us-gaap Liabilities Current
LiabilitiesCurrent
6505000 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
7030000 usd
CY2024Q3 nlnk Deferred Government Grants Obligations Noncurrent
DeferredGovernmentGrantsObligationsNoncurrent
6000000 usd
CY2024Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
42000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
303000 usd
CY2024Q3 us-gaap Liabilities
Liabilities
12547000 usd
CY2023Q4 us-gaap Liabilities
Liabilities
13333000 usd
CY2024Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2023Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2024Q3 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 usd
CY2023Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 usd
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8679053 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
8125728 shares
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8648243 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
8102555 shares
CY2024Q3 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
86000 usd
CY2023Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
81000 usd
CY2024Q3 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
30810 shares
CY2024Q3 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
215000 usd
CY2023Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
196000 usd
CY2024Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
192019000 usd
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
188937000 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-186976000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-161517000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
4914000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1379000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1225000 usd
CY2024Q3 us-gaap Revenues
Revenues
726000 usd
CY2023Q3 us-gaap Revenues
Revenues
7000 usd
us-gaap Revenues
Revenues
1379000 usd
us-gaap Revenues
Revenues
1225000 usd
CY2024Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4153000 usd
CY2023Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5046000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
16030000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15439000 usd
CY2024Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4213000 usd
CY2023Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3893000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11674000 usd
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
12396000 usd
CY2024Q3 us-gaap Operating Expenses
OperatingExpenses
8366000 usd
CY2023Q3 us-gaap Operating Expenses
OperatingExpenses
8939000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-26325000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-26610000 usd
CY2024Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000 usd
CY2023Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
186000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
17000 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
429000 usd
CY2024Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
168000 usd
CY2023Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
446000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
849000 usd
us-gaap Investment Income Interest
InvestmentIncomeInterest
1575000 usd
CY2024Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
173000 usd
CY2023Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
632000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
866000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2004000 usd
CY2024Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7467000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-8300000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-25459000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-24606000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-29000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-8300000 usd
us-gaap Net Income Loss
NetIncomeLoss
-25459000 usd
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.04
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.04
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8327488 shares
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8327488 shares
CY2024Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
7000 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 usd
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
5000 usd
CY2024Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-7467000 usd
CY2023Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-8293000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-25459000 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-24572000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
59584000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
586000 usd
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
4000 usd
CY2023Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
305000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
4000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-7346000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
52519000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
653000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
18000 usd
CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
13000 usd
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
579000 usd
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-6000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-8931000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
43661000 usd
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
42-1491350
dei Entity Address Address Line1
EntityAddressAddressLine1
4200 Marathon Blvd #200
dei City Area Code
CityAreaCode
512
dei Local Phone Number
LocalPhoneNumber
215-2630
CY2024Q3 us-gaap Short Term Investments
ShortTermInvestments
0 usd
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
210000 usd
CY2024Q3 us-gaap Assets Current
AssetsCurrent
17274000 usd
CY2023Q4 us-gaap Assets Current
AssetsCurrent
40035000 usd
CY2024Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
187000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
603000 usd
CY2024Q3 us-gaap Assets
Assets
17461000 usd
CY2023Q4 us-gaap Assets
Assets
40638000 usd
CY2024Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
130000 usd
CY2023Q4 nlnk Deferred Government Grants Obligations Noncurrent
DeferredGovernmentGrantsObligationsNoncurrent
6000000 usd
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
23173 shares
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
27305000 usd
CY2024Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
17461000 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
40638000 usd
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
726000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7000 usd
us-gaap Operating Expenses
OperatingExpenses
27704000 usd
us-gaap Operating Expenses
OperatingExpenses
27835000 usd
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-7640000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-8932000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-7467000 usd
us-gaap Net Income Loss
NetIncomeLoss
-24577000 usd
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.90
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.90
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7978457 shares
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7978457 shares
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
559000 usd
CY2023Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
9000 usd
CY2023Q3 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
426000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
7000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-8300000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
35492000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
27305000 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
580000 usd
CY2024Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
5000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-10441000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
17439000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
387000 usd
CY2024Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
11000 usd
CY2024Q2 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
11000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-7551000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
10275000 usd
CY2024Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
379000 usd
CY2024Q3 nlnk Stock Issued Value Under Controlled Equity Offering Net Of Costs
StockIssuedValueUnderControlledEquityOfferingNetOfCosts
1730000 usd
CY2024Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
3000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-7467000 usd
CY2024Q3 us-gaap Stockholders Equity
StockholdersEquity
4914000 usd
us-gaap Net Income Loss
NetIncomeLoss
-25459000 usd
us-gaap Net Income Loss
NetIncomeLoss
-24577000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1346000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
1798000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
26000 usd
us-gaap Other Noncash Income
OtherNoncashIncome
1000 usd
us-gaap Other Noncash Income
OtherNoncashIncome
362000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-168000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
154000 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-36000 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-51000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-373000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-484000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-24280000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-23702000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
6380000 usd
nlnk Proceeds From Maturities Of Marketable Securities
ProceedsFromMaturitiesOfMarketableSecurities
1000000 usd
nlnk Proceeds From Maturities Of Marketable Securities
ProceedsFromMaturitiesOfMarketableSecurities
10950000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1000000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
4570000 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
11000 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
18000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
20000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
26000 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1310000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
1730000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1721000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1318000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-21559000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-20450000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35078000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
56007000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13519000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35557000 usd
us-gaap Nature Of Operations
NatureOfOperations
D<span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">escription of Business</span><div style="text-align:justify;text-indent:22pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:103%">Organization and Nature of Operations</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lumos Pharma, Inc. is a clinical-stage biopharmaceutical company. References in this Quarterly Report to “us,” “we,” “our,” the “Company,” or “Lumos” are to Lumos Pharma, Inc. and its wholly-owned subsidiaries. With our principal executive offices located in Austin, Texas and additional executive and administrative offices located in Ames, Iowa, we are engaged in </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">advancing our clinical program and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">focused on</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">identifying, acquiring, developing, and commercializing novel products and new therapies for people with rare diseases on a global level</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, for which there is currently a significant unmet need for safe and effective therapies. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our common stock is listed on the Nasdaq Global Market (“Nasdaq”) and trades under</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the ticker symbol “LUMO.”</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">entered into a business combination (the “Merger”) between</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> the Company, formerly known as NewLink Genetics Corporation (“NewLink”), Cyclone Merger Sub, Inc. (“Merger Sub”), a wholly owned subsidiary of NewLink, and Lumos Pharma, Inc., which has since been renamed “Lumos Pharma Sub, Inc.” (“Private Lumos”). </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Merger closed on March 18, 2020, and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Merger Sub merged with and into Private Lumos, with Private Lumos surviving as a wholly-owned subsidiary of the Company. </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">After the consummation of the Merger, the combined company has focused its efforts on the development of Private Lumos’ sole product candidate, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">secretagogue </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ibutamoren (“LUM-201”), a potential oral therapy for idiopathic pediatric growth hormone deficiency (“PGHD”) and other rare endocrine disorders.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">2024 Merger Agreement and Related Transactions</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 23, 2024, the Company announced that it had entered into a definitive merger agreement, dated October 22, 2024 (the “2024 Merger Agreement”) whereby Double Point Ventures LLC (“DPV”), through its wholly-owned subsidiary, DPV Parent, Inc. (“Parent”), will acquire 100% of the Company's outstanding shares of common stock for $4.25 per share in cash, plus one non-transferable, unsecured contingent value right (“CVR”) per share with certain payments payable on achievement of certain milestones (the “2024 Merger”). </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The 2024 Merger is structured as a tender offer (the “Offer”) by a wholly owned subsidiary of Parent (“DPV Merger Sub”) for 100% of the outstanding shares of common stock of the Company for (i) $4.25 per share in cash at closing and (ii) one CVR for each share of common stock outstanding, representing the future right to receive additional contingent cash payments upon the achievement of certain milestone events described below. There can be no assurance any payments will be made with respect to the CVRs. In addition to any cash portion payable to each In-the-Money Option and Company Stock Right (each term as defined in the 2024 Merger Agreement) pursuant to the terms of the 2024 Merger Agreement, each In-the-Money Option and Company Stock Right will receive one CVR for each Share underlying such In-the-Money Option and Company Stock Right, respectively.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At or prior to the effective time of the 2024 Merger (the “Effective Time”), Parent expects to enter into a Contingent Value Rights Agreement (the “CVR Agreement”) with a rights agent (the “Rights Agent”) and a representative, agent and attorney in-fact of the holders of CVRs (“CVR Holders”). Each CVR represents the contractual right to receive certain contingent cash payments equal to “CVR Proceeds” calculated as follows:</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">i.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.73pt">upon the first achievement of Annual Global Net Revenue (as defined in the CVR Agreement) in a fiscal year equal     to or greater than (a) $500 million, (b) $1 billion, and/or (c) $1.5 billion, a price of $1.00 per share, $1.50 per share, and $2.00 per share, respectively, each calculated during the period beginning on the closing of the 2024 Merger (the “2024 Merger Closing”) and ending on December 31, 2037;</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ii.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.96pt">following the execution of any definitive agreement or series of agreements with any third party (excluding any Company Sale (as defined in the CVR Agreement)), that occurs during the period beginning on the 2024 Merger Closing and ending on the 18-month anniversary of the 2024 Merger Closing, with respect to the sale, assignment, transfer, license, option, non-assert or other disposition of Lumos’s assets acquired by DPV Merger Sub (a) for any exploitation in the cardiometabolic field, or (b) excluding LUM-201, in any other field (each of (a) and (b), a “Transaction”), an amount in cash per CVR equal to 25% of Transaction Proceeds (as defined in the CVR Agreement) </span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">after deduction of an amount equal to (a) 50% of the Upfront Cash Consideration (as defined in the CVR Agreement) plus (b) all amounts contributed by Parent in the form or equity investments or loans (including the CTF Agreement (as defined below)) to Lumos to develop the assets involved in the Transactions, allocated pro rata among all CVR Holders and paid as a separate CVR for each Measurement Period (as defined in the CVR Agreement); and</span></div><div style="margin-top:9pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">iii.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:7.19pt">upon the consummation, in a single transaction or in a series of related transactions, that occurs during the period beginning on the 2024 Merger Closing and ending on the 18-month anniversary of the 2024 Merger Closing, of any one or more of the following events: (a) acquisition of direct or indirect beneficial ownership of more than 50% of the outstanding shares of capital stock of the Company by a unrelated third party or (b) sale, assignment, lease, exclusive license or other disposition of all or substantially all of the assets or business of the Company to an unrelated third party, a price per share of $2.00 per share.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The right to the contingent payments contemplated by the CVR Agreement is a contractual right only and will not be transferable, except in the limited circumstances specified in the CVR Agreement. The CVRs will not be evidenced by a certificate or any other instrument and will not be registered with the SEC. The CVRs will not have any voting or dividend rights and will not represent any equity or ownership interest in Purchaser (and, following the Effective Time, the surviving corporation) or any of its affiliates. No interest will accrue on any amounts payable in respect of the CVRs.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following a thorough review of financing and strategic alternatives, the Company’s Board of Directors (the “Board”), with the assistance of the Board’s legal and financial advisors, unanimously determined that the acquisition by DPV is in the best interests of all the Company's stockholders, has approved the 2024 Merger Agreement and related transactions, and unanimously recommends that the Company’s stockholders tender their shares in the Offer. The transaction is expected to close before the end of 2024, subject to the satisfaction or waiver of certain closing conditions including the tender of the Company's common stock representing at least a majority of the total number of outstanding shares.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's officers, directors and stockholders collectively holding approximately 17.7% of the Company's common stock have signed tender and support agreements under which such parties have agreed to tender their shares in the Offer and support the merger transaction.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transactions contemplated by the 2024 Merger Agreement are not subject to any financing condition and DPV will fund the transactions from its existing cash resources. Upon completion of the 2024 Merger, the Company will continue as an indirect wholly-owned subsidiary of DPV, and operate as a standalone business of DPV, from the Company's headquarters in Austin, Texas.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Simultaneously with the execution of the 2024 Merger Agreement, DPV and the Company entered into a Clinical Trial Funding Agreement (the “CTF Agreement”), pursuant to which DPV has agreed to loan up to $7.5 million to the Company solely for the purpose of funding certain research and development expenses, as set forth in the CTF Agreement and as mutually agreed upon by DPV and the Company, during the period beginning on the execution of the 2024 Merger Agreement and ending on the earlier of (a) the closing of the 2024 Merger or (b) the termination of the 2024 Merger Agreement for any reason. Pursuant to the CTF Agreement, the Company may draw down funds by providing advance written notice to DPV of the amount required, the third-party provider to whom the Company will pay such funds, and any supporting documentation as DPV may reasonably request. The Company will further provide DPV with confirmation of payment made to the third-party provider within three business days of receipt of the funds from DPV. Any amounts loaned to the Company under the CTF Agreement shall be evidenced by a secured promissory note senior to any other indebtedness or obligations of the Company.</span></div><div style="margin-bottom:9pt;margin-top:9pt;text-align:justify;text-indent:22pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity and Going Concern </span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements also do not reflect any adjustments relating to the recoverability and reclassifications of assets and liabilities that might be necessary if the Company is unable to continue as a going concern. The Company has historically devoted substantially all of its efforts toward research and development and has never earned revenue from commercial sales of its products. Management expects to continue to incur additional substantial losses in the foreseeable future as a result of the Company’s research and development activities.</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30, 2024</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the Company had approximately </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$13.5 million</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of cash and cash equivalents. The Company's accumulated deficit at </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30, 2024</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> was approximately </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$187.0 million</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. Based on the Company's current cash forecast and the Company’s dependence on its ability to obtain additional financing to fund its operations in advancing the PGHD program into a Phase 3 trial, the Company concluded that its available cash and cash equivalents as of </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30, 2024</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> may not be sufficient to fund its operations for at least 12 months from the filing date of this Quarterly Report, and thus substantial doubt exists as to the Company’s ability to continue as a going concern.</span></div>Although management plans to complete the 2024 Merger in a timely manner, there can be no assurances that the 2024 Merger will close or, if it does close, that it would provide sufficient financing to continue operations. If the 2024 Merger does not close for any reason, there can be no assurance that any other financing will be available on terms that are favorable to the Company, or at all. The Company has taken certain steps to delay or reduce the scope of its research programs and limit its operations until it is able to obtain additional funding. If the 2024 Merger does not close, the Company will be forced to further delay or reduce the scope of its research programs, including its LUM-201 Phase 3 trial, and/or limit or cease its operations.
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13500000 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-187000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:9pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and expenses and the disclosure of contingent assets and liabilities </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">’s financial statements and accompanying notes. Significant management estimates that affect the reported amounts of assets and liabilities include stock-based compensation, accruals for clinical trials and deferred tax assets. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While we believe that the estimates and assumptions used in preparation of our condensed consolidated financial statements </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">based on our knowledge of current events and actions that we may undertake in the future</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">are appropriate, actual results could differ from those estimates, and any such differences may be material.</span></div><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of September 30, 2024, the Company’s significant accounting policies are consistent with those discussed in Note 2 - </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">“</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Summary of Significant Accounting Policies and Recent Accounting Pronouncements</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">”</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of its consolidated financial statements included in the Company’s </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2023 </span>Annual Report filed on Form 10-K with the SEC on March 7, 2024.
CY2024Q3 us-gaap Payments For Royalties
PaymentsForRoyalties
500000 usd
CY2023Q3 us-gaap Payments For Royalties
PaymentsForRoyalties
0 usd
us-gaap Payments For Royalties
PaymentsForRoyalties
900000 usd
us-gaap Payments For Royalties
PaymentsForRoyalties
800000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
13372000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
34741000 usd
CY2023Q4 nlnk Short Term Investments Fair Value Disclosure
ShortTermInvestmentsFairValueDisclosure
999000 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
35740000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
35740000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
0 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
35740000 usd
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2895000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3472000 usd
CY2024Q3 nlnk Accrued Clinical And Contract Manufacturing Expenses Current
AccruedClinicalAndContractManufacturingExpensesCurrent
1062000 usd
CY2023Q4 nlnk Accrued Clinical And Contract Manufacturing Expenses Current
AccruedClinicalAndContractManufacturingExpensesCurrent
1790000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
963000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
596000 usd
CY2024Q3 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
4920000 usd
CY2023Q4 us-gaap Accounts Payable And Other Accrued Liabilities Current
AccountsPayableAndOtherAccruedLiabilitiesCurrent
5858000 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
379000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
559000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1346000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1900000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y1M6D
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-29000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-7467000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-8300000 usd
us-gaap Net Income Loss
NetIncomeLoss
-25459000 usd
us-gaap Net Income Loss
NetIncomeLoss
-24577000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7978457 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7978457 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8179341 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8179341 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8161904 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
8161904 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.04
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.11
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.01
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.01
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1688721 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1453539 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1688721 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1453539 shares
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001126234-24-000097-index-headers.html Edgar Link pending
0001126234-24-000097-index.html Edgar Link pending
0001126234-24-000097.txt Edgar Link pending
0001126234-24-000097-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
lumo-2024930x10qxex311.htm Edgar Link pending
lumo-2024930x10qxex312.htm Edgar Link pending
lumo-2024930x10qxex321.htm Edgar Link pending
MetaLinks.json Edgar Link pending
nlnk-20240930.htm Edgar Link pending
nlnk-20240930.xsd Edgar Link pending
nlnk-20240930_g1.jpg Edgar Link pending
nlnk-20240930_g2.jpg Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
nlnk-20240930_cal.xml Edgar Link unprocessable
nlnk-20240930_def.xml Edgar Link unprocessable
nlnk-20240930_htm.xml Edgar Link completed
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
nlnk-20240930_lab.xml Edgar Link unprocessable
nlnk-20240930_pre.xml Edgar Link unprocessable