$MTVA
MetaVia Inc.

2021 Q4 Form 10-Q Financial Statement

#000155837021015881 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.581M $2.070M $1.800M
YoY Change 48.33% 15.0% 44.0%
% of Gross Profit
Research & Development $1.997M $1.394M $1.265M
YoY Change 353.86% 10.2% 18.22%
% of Gross Profit
Depreciation & Amortization $12.00K $12.00K $12.00K
YoY Change -40.0% 0.0% 20.0%
% of Gross Profit
Operating Expenses $4.578M $1.394M $1.265M
YoY Change 110.0% 10.2% -45.47%
Operating Profit -$3.464M -$3.060M
YoY Change 13.2%
Interest Expense $0.00 $3.000K $10.00K
YoY Change -100.0% -70.0%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income -$4.578M -$3.461M -$3.054M
YoY Change -76.54% 13.33% -10.96%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.578M -$3.461M -$3.054M
YoY Change -76.54% 13.33% -10.96%
Net Earnings / Revenue
Basic Earnings Per Share -$0.16 -$0.19
Diluted Earnings Per Share -$173.0K -$0.16 -$0.19
COMMON SHARES
Basic Shares Outstanding 26.59M 22.29M 16.43M
Diluted Shares Outstanding 22.29M 16.43M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.39M $6.984M $12.35M
YoY Change 62.41% -43.45% 563.98%
Cash & Equivalents $16.39M $7.000M $12.35M
Short-Term Investments
Other Short-Term Assets $197.0K $48.00K $540.0K
YoY Change 310.42% -91.11% 184.21%
Inventory
Prepaid Expenses $197.0K $812.0K
Receivables
Other Receivables
Total Short-Term Assets $16.58M $7.844M $12.90M
YoY Change 55.24% -39.19% 529.27%
LONG-TERM ASSETS
Property, Plant & Equipment $110.0K $122.0K $270.0K
YoY Change -29.03% -54.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $30.00K
YoY Change
Total Long-Term Assets $215.0K $233.0K $300.0K
YoY Change -24.56% -22.33%
TOTAL ASSETS
Total Short-Term Assets $16.58M $7.844M $12.90M
Total Long-Term Assets $215.0K $233.0K $300.0K
Total Assets $16.80M $8.077M $13.20M
YoY Change 53.16% -38.81% 543.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $830.0K $953.0K $1.100M
YoY Change -67.77% -13.36% -58.96%
Accrued Expenses $1.301M $922.0K $2.510M
YoY Change 18.7% -63.27% 527.5%
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 $2.157M $1.901M $3.620M
YoY Change -41.62% -47.49% 17.92%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $45.00K $51.00K $80.00K
YoY Change -35.71% -36.25%
Total Long-Term Liabilities $45.00K $51.00K $80.00K
YoY Change -35.71% -36.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.157M $1.901M $3.620M
Total Long-Term Liabilities $45.00K $51.00K $80.00K
Total Liabilities $2.202M $1.952M $3.690M
YoY Change -41.51% -47.1% 20.2%
SHAREHOLDERS EQUITY
Retained Earnings -$81.83M -$77.25M
YoY Change 22.97%
Common Stock $27.00K $22.00K
YoY Change 35.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $14.60M $6.125M $9.506M
YoY Change
Total Liabilities & Shareholders Equity $16.80M $8.077M $13.20M
YoY Change 53.16% -38.81% 543.9%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income -$4.578M -$3.461M -$3.054M
YoY Change -76.54% 13.33% -10.96%
Depreciation, Depletion And Amortization $12.00K $12.00K $12.00K
YoY Change -40.0% 0.0% 20.0%
Cash From Operating Activities -$2.899M -$2.507M -$1.960M
YoY Change 23.89% 27.91% -41.32%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities -$583.0K
YoY Change -932.86%
Cash From Investing Activities -$583.0K $0.00 $0.00
YoY Change -932.86% -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 12.89M -24.00K 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -2.899M -2.507M -1.960M
Cash From Investing Activities -583.0K 0.000 0.000
Cash From Financing Activities 12.89M -24.00K 0.000
Net Change In Cash 9.404M -2.531M -1.960M
YoY Change -514.27% 29.13% -43.02%
FREE CASH FLOW
Cash From Operating Activities -$2.899M -$2.507M -$1.960M
Capital Expenditures $0.00 $0.00 $0.00
Free Cash Flow -$2.899M -$2.507M -$1.960M
YoY Change 23.89% 27.91% -39.69%

Facts In Submission

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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-3098000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1560000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-7000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-10000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10089000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
13923000
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6984000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12353000
nrbo Deferred Issuance Costs Incurred But Not Yet Paid
DeferredIssuanceCostsIncurredButNotYetPaid
25000
us-gaap Noncash Or Part Noncash Acquisition Noncash Financial Or Equity Instrument Consideration Warrants Issued1
NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationWarrantsIssued1
289000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
2000
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
7000000.0
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 condensed 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 September 30, 2021, the Company had deposits in excess of federally insured amounts by $6.7 million.</p>
CY2021Q3 nrbo Deposits In Excess Of Federally Insured Amounts
DepositsInExcessOfFederallyInsuredAmounts
6700000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
40000
CY2021Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
922000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
1096000
CY2021Q3 nrbo Percentage Of Royalty Payments
PercentageOfRoyaltyPayments
0.025
CY2021Q3 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
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q1 nrbo Percentage Of Proceeds From Grant Sale Or Transfer Of Rights
PercentageOfProceedsFromGrantSaleOrTransferOfRights
0.10
CY2021Q3 nrbo Milestones Accrued
MilestonesAccrued
0
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
8000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
32000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
32000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
17000
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
221000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
218000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
99000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
63000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
122000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
155000
CY2020Q3 us-gaap Depreciation
Depreciation
12000
CY2021Q3 us-gaap Depreciation
Depreciation
12000
us-gaap Depreciation
Depreciation
36000
us-gaap Depreciation
Depreciation
34000
CY2021Q3 nrbo Accrued Other Research And Development Expenses
AccruedOtherResearchAndDevelopmentExpenses
664000
CY2020Q4 nrbo Accrued Other Research And Development Expenses
AccruedOtherResearchAndDevelopmentExpenses
218000
CY2021Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
153000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
277000
CY2021Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
74000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
561000
CY2021Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
31000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
89000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
77000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
26000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
51000
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
114310
CY2021Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
78055
CY2021Q3 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
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
107000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
209000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
474000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
539000
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
60000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
420000
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
301954
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
48333
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
564091
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
920355
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.790
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.768
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.790
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.774
CY2021Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
CY2020Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
CY2021Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.009
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.004
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.009
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.015
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2020Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2021Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0

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