$MRNS
MARINUS PHARMACEUTICALS, INC.

2021 Q4 Form 10-Q Financial Statement

#000155837021015263 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $1.520M $10.11M $171.0K
YoY Change -1.94% 5814.62%
Cost Of Revenue $1.478M
YoY Change
Gross Profit $8.636M
YoY Change
Gross Profit Margin 85.39%
Selling, General & Admin $10.62M $9.452M $4.560M
YoY Change 76.74% 107.28% 95.71%
% of Gross Profit 109.45%
Research & Development $18.01M $18.35M $11.31M
YoY Change 38.14% 62.33% -2.3%
% of Gross Profit 212.52%
Depreciation & Amortization $93.00K $91.00K $70.00K
YoY Change 3.33% 30.0% -22.22%
% of Gross Profit 1.05%
Operating Expenses $28.64M $18.35M $11.31M
YoY Change 50.32% 62.33% -2.3%
Operating Profit -$19.17M -$15.70M
YoY Change 22.1% 12.95%
Interest Expense -$1.530M $678.0K $80.00K
YoY Change -3925.0% 747.5% -11.11%
% of Operating Profit
Other Income/Expense, Net $541.0K $323.0K -$39.00K
YoY Change -5510.0% -928.21%
Pretax Income -$28.31M -$19.51M -$15.66M
YoY Change 62.02% 24.57% 13.4%
Income Tax
% Of Pretax Income
Net Earnings -$28.31M -$19.51M -$15.66M
YoY Change 62.02% 24.57% 13.42%
Net Earnings / Revenue -1862.17% -192.87% -9157.31%
Basic Earnings Per Share -$0.53 -$0.51
Diluted Earnings Per Share -$769.4K -$0.54 -$0.51
COMMON SHARES
Basic Shares Outstanding 36.77M 36.74M 30.55M
Diluted Shares Outstanding 36.74M 30.55M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $122.9M $145.1M $91.30M
YoY Change -12.2% 58.93% 128.82%
Cash & Equivalents $122.9M $145.1M $87.34M
Short-Term Investments $0.00 $0.00 $4.000M
Other Short-Term Assets $5.565M $4.858M $3.900M
YoY Change 20.98% 24.56% 200.0%
Inventory $0.00
Prepaid Expenses
Receivables $2.629M $2.473M
Other Receivables $0.00 $0.00
Total Short-Term Assets $131.7M $153.5M $95.17M
YoY Change -9.97% 61.28% 131.56%
LONG-TERM ASSETS
Property, Plant & Equipment $2.499M $2.650M $2.026M
YoY Change 28.48% 30.8% -55.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.663M $2.732M $2.328M
YoY Change 18.36% 17.35%
Total Long-Term Assets $5.162M $5.382M $4.354M
YoY Change 23.05% 23.61% -7.36%
TOTAL ASSETS
Total Short-Term Assets $131.7M $153.5M $95.17M
Total Long-Term Assets $5.162M $5.382M $4.354M
Total Assets $136.8M $158.9M $99.53M
YoY Change -9.05% 59.63% 117.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.126M $693.0K $2.999M
YoY Change 41.38% -76.89% -16.69%
Accrued Expenses $16.21M $15.16M $6.440M
YoY Change 90.27% 135.33% 28.8%
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 $40.57M $37.68M $9.439M
YoY Change 278.1% 299.15% 9.76%
LONG-TERM LIABILITIES
Long-Term Debt $40.81M $40.58M $0.00
YoY Change
Other Long-Term Liabilities $1.979M $2.124M $2.700M
YoY Change -20.84% -21.33% -15.63%
Total Long-Term Liabilities $42.79M $42.70M $2.700M
YoY Change 1611.52% 1481.59% -15.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $40.57M $37.68M $9.439M
Total Long-Term Liabilities $42.79M $42.70M $2.700M
Total Liabilities $83.35M $80.38M $12.10M
YoY Change 528.47% 564.12% 3.44%
SHAREHOLDERS EQUITY
Retained Earnings -$410.7M -$382.4M -$294.5M
YoY Change 31.67% 29.85%
Common Stock $37.00K $37.00K $31.00K
YoY Change 0.0% 19.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $7.307K $7.307K $7.307K
Shareholders Equity $53.49M $78.49M $87.42M
YoY Change
Total Liabilities & Shareholders Equity $136.8M $158.9M $99.53M
YoY Change -9.05% 59.63% 117.31%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$28.31M -$19.51M -$15.66M
YoY Change 62.02% 24.57% 13.42%
Depreciation, Depletion And Amortization $93.00K $91.00K $70.00K
YoY Change 3.33% 30.0% -22.22%
Cash From Operating Activities -$21.75M $5.403M -$14.46M
YoY Change 32.62% -137.37% 20.5%
INVESTING ACTIVITIES
Capital Expenditures -$721.0K -$872.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $2.980M
YoY Change -100.0% -100.0% -1395.65%
Cash From Investing Activities -$721.0K -$872.0K $2.980M
YoY Change -129.07% -129.26% -1292.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 297.0K 28.08M -100.0K
YoY Change -99.54% -28177.0% 400.0%
NET CHANGE
Cash From Operating Activities -21.75M 5.403M -14.46M
Cash From Investing Activities -721.0K -872.0K 2.980M
Cash From Financing Activities 297.0K 28.08M -100.0K
Net Change In Cash -22.17M 32.61M -11.58M
YoY Change -143.33% -381.59% -5.62%
FREE CASH FLOW
Cash From Operating Activities -$21.75M $5.403M -$14.46M
Capital Expenditures -$721.0K -$872.0K $0.00
Free Cash Flow -$21.03M $6.275M -$14.46M
YoY Change 28.23% -143.4% 20.7%

Facts In Submission

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MARINUS PHARMACEUTICALS, INC.
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CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
312000
CY2020Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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27000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-18672000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
43112000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1796000
CY2020Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
200000
CY2020Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities Net Of Adjustments
StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
19455000
CY2020Q2 mrns Stock Issued During Period Value Equity Distribution Agreement
StockIssuedDuringPeriodValueEquityDistributionAgreement
602000
CY2020Q2 mrns Transfer Of Convertible Preferred Stock To Permanent Equity Value
TransferOfConvertiblePreferredStockToPermanentEquityValue
8745000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-15675000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
101145000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1849000
CY2020Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
104000
CY2020Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-16000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
-15659000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
87423000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
137199000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5035000
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
244000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
3000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-27141000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
115334000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2991000
CY2021Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
557000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-23823000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
95059000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2841000
CY2021Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
101000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-19507000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
78494000
us-gaap Net Income Loss
NetIncomeLoss
-70500000
CY2021Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-382400000
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">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 income and expenses during the reporting period. Actual results could differ from such estimates.</p>
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4097000
CY2021Q3 mrns Clinical Trials And Drug Development Current
ClinicalTrialsAndDrugDevelopmentCurrent
8388000
CY2020Q4 mrns Clinical Trials And Drug Development Current
ClinicalTrialsAndDrugDevelopmentCurrent
2452000
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1178000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
927000
CY2021Q3 mrns Lease Liability Short Term
LeaseLiabilityShortTerm
540000
CY2020Q4 mrns Lease Liability Short Term
LeaseLiabilityShortTerm
510000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
294000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
532000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
15155000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8518000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
540000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
2124000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5577768
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5200735
CY2021Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
915000
CY2021Q2 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
178
CY2020Q1 mrns Convertible Preferred Stock Deemed Dividends
ConvertiblePreferredStockDeemedDividends
8900000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P48M
CY2021Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1700000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2000000.0
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2700000
CY2021Q3 us-gaap Lease Cost
LeaseCost
200000
CY2021Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.110
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2664000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
202000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
807000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
823000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
840000
CY2021Q3 mrns Lessee Operating Lease Liability Payments Due After Year Three
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearThree
642000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3314000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
650000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
2664000
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
45000000
CY2021Q3 mrns Contractual Term Loan Exit Fees
ContractualTermLoanExitFees
900000
CY2021Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
5321000
CY2021Q3 us-gaap Long Term Notes Payable
LongTermNotesPayable
40579000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6825000
CY2021Q3 mrns Long Term Debt Maturities Repayments Of Principal In Year Four And Thereafter
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFourAndThereafter
38175000
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
45000000

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