$MTVA
MetaVia Inc.

2021 Q2 Form 10-Q Financial Statement

#000155837021011762 Filed on August 16, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q4 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.914M $1.740M $1.720M
YoY Change 11.28% -262.62% 53.57%
% of Gross Profit
Research & Development $2.012M $440.0K $674.0K
YoY Change 198.52% -73.01% -45.2%
% of Gross Profit
Depreciation & Amortization $12.00K $20.00K $12.00K
YoY Change 0.0% 100.0%
% of Gross Profit
Operating Expenses $2.012M $2.180M $674.0K
YoY Change 198.52% 296.36% -71.32%
Operating Profit -$3.926M -$2.392M
YoY Change 64.13%
Interest Expense $5.000K $10.00K $10.00K
YoY Change -50.0% -98.73% 0.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change -100.0%
Pretax Income -$3.921M -$19.51M -$2.384M
YoY Change 64.47% 74.82% -18.36%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.900M -$19.51M -$2.384M
YoY Change 63.59% 74.82% -18.36%
Net Earnings / Revenue
Basic Earnings Per Share -$0.18
Diluted Earnings Per Share -$0.18 -$1.185M -$146.0K
COMMON SHARES
Basic Shares Outstanding 22.00M
Diluted Shares Outstanding 22.00M

Balance Sheet

Concept 2021 Q2 2020 Q4 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.513M $10.09M $14.30M
YoY Change -33.48% -27.46% 292.86%
Cash & Equivalents $9.500M $10.09M $14.30M
Short-Term Investments
Other Short-Term Assets $166.0K $48.00K $950.0K
YoY Change -82.53% -77.14% 179.41%
Inventory
Prepaid Expenses $789.0K $546.0K
Receivables
Other Receivables
Total Short-Term Assets $10.47M $10.68M $15.24M
YoY Change -31.31% -24.34% 281.95%
LONG-TERM ASSETS
Property, Plant & Equipment $134.0K $155.0K $280.0K
YoY Change -52.14% -55.71% 1300.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $134.0K $155.0K $30.00K
YoY Change 346.67% 200.0%
Total Long-Term Assets $251.0K $285.0K $310.0K
YoY Change -19.03% -18.57% 1450.0%
TOTAL ASSETS
Total Short-Term Assets $10.47M $10.68M $15.24M
Total Long-Term Assets $251.0K $285.0K $310.0K
Total Assets $10.72M $10.97M $15.55M
YoY Change -31.07% -24.2% 287.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $347.0K $2.575M $1.680M
YoY Change -79.35% 302.34% 0.6%
Accrued Expenses $811.0K $1.096M $1.450M
YoY Change -44.07% -23.89% 281.58%
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 $1.183M $3.695M $3.130M
YoY Change -62.2% 77.64% 52.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $58.00K $70.00K $80.00K
YoY Change -27.5% -22.22%
Total Long-Term Liabilities $58.00K $70.00K $80.00K
YoY Change -27.5% -22.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.183M $3.695M $3.130M
Total Long-Term Liabilities $58.00K $70.00K $80.00K
Total Liabilities $1.241M $3.765M $3.210M
YoY Change -61.34% 72.71% 56.59%
SHAREHOLDERS EQUITY
Retained Earnings -$73.80M -$66.54M
YoY Change
Common Stock $22.00K $20.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.478M $7.203M $12.34M
YoY Change
Total Liabilities & Shareholders Equity $10.72M $10.97M $15.55M
YoY Change -31.07% -24.2% 287.78%

Cashflow Statement

Concept 2021 Q2 2020 Q4 2020 Q2
OPERATING ACTIVITIES
Net Income -$3.900M -$19.51M -$2.384M
YoY Change 63.59% 74.82% -18.36%
Depreciation, Depletion And Amortization $12.00K $20.00K $12.00K
YoY Change 0.0% 100.0%
Cash From Operating Activities -$3.588M -$2.340M -$2.320M
YoY Change 54.66% 82.81% 93.33%
INVESTING ACTIVITIES
Capital Expenditures -$3.000K $0.00 $0.00
YoY Change -100.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities $70.00K
YoY Change -101.2%
Cash From Investing Activities -$3.000K $70.00K $0.00
YoY Change -101.18% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 74.00K 0.000 6.810M
YoY Change -98.91% -71.84%
NET CHANGE
Cash From Operating Activities -3.588M -2.340M -2.320M
Cash From Investing Activities -3.000K 70.00K 0.000
Cash From Financing Activities 74.00K 0.000 6.810M
Net Change In Cash -3.517M -2.270M 4.490M
YoY Change -178.33% -68.56% -80.44%
FREE CASH FLOW
Cash From Operating Activities -$3.588M -$2.340M -$2.320M
Capital Expenditures -$3.000K $0.00 $0.00
Free Cash Flow -$3.585M -$2.340M -$2.320M
YoY Change 54.53% 96.64% 98.29%

Facts In Submission

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us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Use of estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"> </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, expenses, and related disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in the Company's consolidated financial statements relate to accrued expenses and the fair value of stock-based compensation and warrant issuances. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgements about the carrying values of assets and liabilities. Actual results could differ from those estimates. Changes in estimates are reflected in reported results in the period in which they become known.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Concentration of Credit Risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"> </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;">Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash. The Company’s cash is principally held by one financial institution in the United States. Amounts on deposit may at times exceed federally insured limits. Management believes that the financial institution is financially sound, and accordingly, minimal credit risk exists with respect to the financial institution. As of June 30, 2021, the Company had deposits in excess of federally insured amounts by $9.1 million.</p>
CY2021Q2 nrbo Deposits In Excess Of Federally Insured Amounts
DepositsInExcessOfFederallyInsuredAmounts
9100000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
63000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
134000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
155000
CY2020Q2 us-gaap Depreciation
Depreciation
12000
CY2021Q2 us-gaap Depreciation
Depreciation
12000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
87000
us-gaap Depreciation
Depreciation
24000
us-gaap Depreciation
Depreciation
23000
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
221000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
218000
CY2021Q2 nrbo Accrued Other Research And Development Expenses
AccruedOtherResearchAndDevelopmentExpenses
671000
CY2020Q4 nrbo Accrued Other Research And Development Expenses
AccruedOtherResearchAndDevelopmentExpenses
218000
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
58000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
277000
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
46000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
561000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
36000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
40000
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
811000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1096000
CY2021Q2 nrbo Percentage Of Royalty Payments
PercentageOfRoyaltyPayments
0.025
CY2021Q2 nrbo Royalty Payment Accrued
RoyaltyPaymentAccrued
0
CY2019Q4 nrbo Percentage Of Proceeds From Grant Sale Or Transfer Of Rights
PercentageOfProceedsFromGrantSaleOrTransferOfRights
0.80
CY2019Q4 nrbo Percentage Of Proceeds From Grant Sale Or Transfer Of Rights
PercentageOfProceedsFromGrantSaleOrTransferOfRights
0.80
CY2021Q1 nrbo Percentage Of Proceeds From Grant Sale Or Transfer Of Rights
PercentageOfProceedsFromGrantSaleOrTransferOfRights
0.10
CY2021Q2 nrbo Milestones Accrued
MilestonesAccrued
0
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
16000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
32000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
32000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
97000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
83000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
25000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
58000
CY2021Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
78055
CY2021Q2 nrbo Class Of Warrants Or Rights Exercisable
ClassOfWarrantsOrRightsExercisable
78055
CY2020Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2578055
CY2020Q4 nrbo Class Of Warrants Or Rights Exercisable
ClassOfWarrantsOrRightsExercisable
78055
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
180000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
171000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
367000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
330000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
920355
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
633277
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
360000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
114310
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
84589
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
270287
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
535758
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
908688
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.775
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0171
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
270287
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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