$NRXP
NRX Pharmaceuticals, Inc.

2022 Q1 Form 10-Q Financial Statement

#000155837022008948 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $10.22M $2.101M
YoY Change 386.44% 1661.44%
% of Gross Profit
Research & Development $5.483M $2.909M
YoY Change 88.48%
% of Gross Profit
Depreciation & Amortization $1.000K $0.00
YoY Change
% of Gross Profit
Operating Expenses $15.71M $25.61M
YoY Change -38.66% 21362.7%
Operating Profit -$15.71M -$25.61M
YoY Change -38.66% 21362.7%
Interest Expense $3.000K $5.000K
YoY Change -40.0% -95.58%
% of Operating Profit
Other Income/Expense, Net $2.257M $116.0K
YoY Change 1845.69% -75.06%
Pretax Income -$13.45M -$893.7K
YoY Change 1404.73% -358.41%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$13.45M -$25.49M
YoY Change -47.24% 1503.03%
Net Earnings / Revenue
Basic Earnings Per Share -$0.21 -$0.71
Diluted Earnings Per Share -$0.20 -$0.71
COMMON SHARES
Basic Shares Outstanding 63.67M 35.66M
Diluted Shares Outstanding 63.67M 35.66M

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.20M $230.00
YoY Change 17479030.43% -99.72%
Cash & Equivalents $40.20M $13.27M
Short-Term Investments
Other Short-Term Assets $3.382M $59.49K
YoY Change 5584.99%
Inventory
Prepaid Expenses $7.850K
Receivables
Other Receivables
Total Short-Term Assets $43.58M $59.72K
YoY Change 72875.69% -26.06%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $5.968M
YoY Change -3.62%
Other Assets $17.00K
YoY Change
Total Long-Term Assets $17.00K $5.968M
YoY Change -99.72% -3.62%
TOTAL ASSETS
Total Short-Term Assets $43.58M $59.72K
Total Long-Term Assets $17.00K $5.968M
Total Assets $43.60M $6.028M
YoY Change 623.34% -3.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.311M $643.7K
YoY Change 569.73% 105.49%
Accrued Expenses $4.001M
YoY Change
Deferred Revenue $135.0K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $520.0K
YoY Change
Total Short-Term Liabilities $11.91M $643.7K
YoY Change 1750.58% 103.45%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $2.851M
YoY Change -100.0% 30.73%
Other Long-Term Liabilities $1.313M
YoY Change
Total Long-Term Liabilities $0.00 $4.164M
YoY Change -100.0% 90.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.91M $643.7K
Total Long-Term Liabilities $0.00 $4.164M
Total Liabilities $11.91M $4.808M
YoY Change 147.77% 92.54%
SHAREHOLDERS EQUITY
Retained Earnings -$196.7M -$1.614M
YoY Change 12088.57%
Common Stock $67.00K $2.688K
YoY Change 2392.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.69M $6.391M
YoY Change
Total Liabilities & Shareholders Equity $43.60M $6.028M
YoY Change 623.34% -3.91%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$13.45M -$25.49M
YoY Change -47.24% 1503.03%
Depreciation, Depletion And Amortization $1.000K $0.00
YoY Change
Cash From Operating Activities -$10.38M -$3.015M
YoY Change 244.28% 3844.58%
INVESTING ACTIVITIES
Capital Expenditures -$3.000K $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.000K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.927M
YoY Change -126.64%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 22.98M 14.43M
YoY Change 59.28% -155.99%
NET CHANGE
Cash From Operating Activities -10.38M -3.015M
Cash From Investing Activities -3.000K 0.000
Cash From Financing Activities 22.98M 14.43M
Net Change In Cash 12.60M 11.41M
YoY Change 10.38% 14029.36%
FREE CASH FLOW
Cash From Operating Activities -$10.38M -$3.015M
Capital Expenditures -$3.000K $0.00
Free Cash Flow -$10.38M -$3.015M
YoY Change 244.18%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements 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 in its financial statements and the reported amounts of expenses during the reporting period. The most significant estimates in the Company’s financial statements relate to the Earnout Cash liability, valuation of common and preferred stock, stock options, warrants, and the valuation allowance of deferred tax assets resulting from net operating losses. These estimates and assumptions are based on current facts, historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.</p>
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NotesPayableAndAccruedInterestCurrent
520000
CY2021Q4 nrxp Notes Payable And Accrued Interest Current
NotesPayableAndAccruedInterestCurrent
518000
CY2022Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
CY2021Q1 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
100000
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q1 nrxp Common Stock And Warrants Issued In Private Placement Number Of Shares
CommonStockAndWarrantsIssuedInPrivatePlacementNumberOfShares
7824727
CY2022Q1 nrxp Net Proceeds From Payments For Issuance Of Common Stock And Warrants In Private Placement Net Of Issuance Costs
NetProceedsFromPaymentsForIssuanceOfCommonStockAndWarrantsInPrivatePlacementNetOfIssuanceCosts
23000000.0
CY2021Q1 nrxp Common Stock Shares Issued New Issuance And Sale Of Options And Warrants
CommonStockSharesIssuedNewIssuanceAndSaleOfOptionsAndWarrants
1829337
CY2021Q1 nrxp Proceeds From Sale Of Stock New Issuances And Sale Of Stock Options And Warrants
ProceedsFromSaleOfStockNewIssuancesAndSaleOfStockOptionsAndWarrants
14400000
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
9305790
CY2021 nrxp Class Of Warrant Or Right Weighted Average Remaining Contractual Term2
ClassOfWarrantOrRightWeightedAverageRemainingContractualTerm2
P3Y7M13D
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
9.09
CY2021Q4 nrxp Class Of Warrant Or Right Outstanding Intrinsic Value
ClassOfWarrantOrRightOutstandingIntrinsicValue
4942000
CY2022Q1 nrxp Class Of Warrant Or Right Issued
ClassOfWarrantOrRightIssued
8215963
CY2022Q1 nrxp Class Of Warrant Or Rights Grant In Period Weighted Average Remaining Contractual Term
ClassOfWarrantOrRightsGrantInPeriodWeightedAverageRemainingContractualTerm
P5Y6M
CY2022Q1 nrxp Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Issued
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsIssued
3.11
CY2022Q1 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
17521753
CY2022Q1 nrxp Class Of Warrant Or Right Weighted Average Remaining Contractual Term2
ClassOfWarrantOrRightWeightedAverageRemainingContractualTerm2
P4Y3M14D
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
6.29
CY2022Q1 nrxp Class Of Warrant Or Right Outstanding Intrinsic Value
ClassOfWarrantOrRightOutstandingIntrinsicValue
15000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.27
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.00
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
30400000
CY2022Q1 nrxp Allocated Share Based Compensation Expense Expected To Be Recognized In Future
AllocatedShareBasedCompensationExpenseExpectedToBeRecognizedInFuture
5900000
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M13D
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1334000
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
372000
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q1 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
100000
CY2021Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
100000

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