$ONCT
Oncternal Therapeutics Inc

2019 Q3 Form 10-Q Financial Statement

#000156459019041983 Filed on November 08, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2018 Q4 2018 Q3
Revenue $544.0K $0.00 $329.0K
YoY Change 65.35%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.390M $2.350M $2.160M
YoY Change 10.65% -5.62% -17.56%
% of Gross Profit
Research & Development $0.00 $3.240M $0.00
YoY Change -53.11% -100.0%
% of Gross Profit
Depreciation & Amortization $20.00K $10.00K
YoY Change 100.0% -50.0%
% of Gross Profit
Operating Expenses $5.493M $5.590M $2.263M
YoY Change 142.73% -40.53% -73.47%
Operating Profit -$4.949M -$1.934M
YoY Change 155.89%
Interest Expense $60.00K
YoY Change
% of Operating Profit
Other Income/Expense, Net $57.00K $170.0K $36.00K
YoY Change 58.33% 41.67% 20.0%
Pretax Income -$4.890M -$5.420M -$9.430M
YoY Change -48.14% -41.59% 10.94%
Income Tax
% Of Pretax Income
Net Earnings -$4.892M -$5.420M -$1.898M
YoY Change 157.74% -41.59% -77.67%
Net Earnings / Revenue -899.26% -576.9%
Basic Earnings Per Share
Diluted Earnings Per Share -$318.8K -$32.19K -$392.1K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.10M $28.50M $38.10M
YoY Change -39.37% -35.08% -28.92%
Cash & Equivalents $23.10M $20.65M $6.142M
Short-Term Investments $200.0K $15.00M
Other Short-Term Assets $1.000M $2.800M $2.100M
YoY Change -52.38% 27.27% 5.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $24.10M $21.21M $40.10M
YoY Change -39.9% -53.99% -28.01%
LONG-TERM ASSETS
Property, Plant & Equipment $200.0K $0.00 $0.00
YoY Change -100.0% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $768.0K $752.0K
YoY Change
Total Long-Term Assets $949.0K $752.0K $200.0K
YoY Change 374.5% 652.0% 100.0%
TOTAL ASSETS
Total Short-Term Assets $24.10M $21.21M $40.10M
Total Long-Term Assets $949.0K $752.0K $200.0K
Total Assets $25.05M $21.96M $40.30M
YoY Change -37.84% -52.46% -27.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.231M $3.440M $3.100M
YoY Change -60.29% 32.31% 24.0%
Accrued Expenses $2.435M $891.0K $6.200M
YoY Change -60.73% -83.5% -8.82%
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 $6.770M $4.331M $9.300M
YoY Change -27.2% -45.86% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $100.0K
YoY Change
Total Long-Term Liabilities $100.0K $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.770M $4.331M $9.300M
Total Long-Term Liabilities $100.0K $0.00 $0.00
Total Liabilities $6.900M $5.200M $9.300M
YoY Change -25.81% -35.0% 0.0%
SHAREHOLDERS EQUITY
Retained Earnings -$61.42M -$31.38M
YoY Change
Common Stock $15.00K $5.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $18.15M -$29.63M -$28.95M
YoY Change
Total Liabilities & Shareholders Equity $25.05M $21.96M $40.30M
YoY Change -37.84% -52.46% -27.78%

Cashflow Statement

Concept 2019 Q3 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$4.892M -$5.420M -$1.898M
YoY Change 157.74% -41.59% -77.67%
Depreciation, Depletion And Amortization $20.00K $10.00K
YoY Change 100.0% -50.0%
Cash From Operating Activities -$3.830M -$9.620M -$7.720M
YoY Change -50.39% -1.13% 129.08%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.600M $14.78M $14.22M
YoY Change -111.25% -153.01% 137.0%
Cash From Investing Activities -$1.600M $14.78M $14.22M
YoY Change -111.25% -152.99% 137.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.00K 0.000 80.00K
YoY Change -75.0% -99.82%
NET CHANGE
Cash From Operating Activities -3.830M -9.620M -7.720M
Cash From Investing Activities -1.600M 14.78M 14.22M
Cash From Financing Activities 20.00K 0.000 80.00K
Net Change In Cash -5.410M 5.160M 6.580M
YoY Change -182.22% -113.72% -86.37%
FREE CASH FLOW
Cash From Operating Activities -$3.830M -$9.620M -$7.720M
Capital Expenditures $0.00
Free Cash Flow -$9.620M
YoY Change -1.13%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap General And Administrative Expense
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<p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.17%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The<font style="letter-spacing:-0.35pt;"> </font><font style="letter-spacing:0.1pt;">Company&#8217;s</font><font style="letter-spacing:-0.5pt;"> condensed </font><font style="letter-spacing:0.15pt;">consolidated</font><font style="letter-spacing:-0.15pt;"> </font><font style="letter-spacing:0.1pt;">financial</font><font style="letter-spacing:-0.25pt;"> </font><font style="letter-spacing:0.1pt;">statements</font><font style="letter-spacing:-0.45pt;"> </font>are<font style="letter-spacing:-0.35pt;"> </font>prepared<font style="letter-spacing:-0.2pt;"> </font>in<font style="letter-spacing:-0.15pt;"> </font><font style="letter-spacing:0.1pt;">accordance</font><font style="letter-spacing:-0.35pt;"> </font>with<font style="letter-spacing:-0.15pt;"> GAAP.</font><font style="letter-spacing:-0.6pt;"> </font>The<font style="letter-spacing:-0.35pt;"> </font>preparation<font style="letter-spacing:-0.15pt;"> </font><font style="letter-spacing:0.15pt;">of</font><font style="letter-spacing:-0.65pt;"> </font><font style="letter-spacing:0.15pt;">the</font><font style="letter-spacing:-0.3pt;"> </font><font style="letter-spacing:0.1pt;">Company&#8217;s</font><font style="letter-spacing:-0.45pt;"> condensed </font><font style="letter-spacing:0.15pt;">consolidated</font><font style="letter-spacing:-0.2pt;"> </font><font style="letter-spacing:0.1pt;">financial</font><font style="letter-spacing:-0.2pt;"> </font><font style="letter-spacing:0.1pt;">statements</font><font style="letter-spacing:-0.5pt;"> </font><font style="letter-spacing:0.1pt;">and</font><font style="letter-spacing:-0.15pt;"> </font><font style="letter-spacing:0.15pt;">accompanying</font><font style="letter-spacing:-0.15pt;"> </font><font style="letter-spacing:0.15pt;">notes</font><font style="letter-spacing:-0.45pt;"> </font>requires<font style="letter-spacing:-0.5pt;"> </font>it<font style="letter-spacing:-0.2pt;"> </font>to<font style="letter-spacing:-0.2pt;"> </font>make<font style="letter-spacing:-0.3pt;"> </font>estimates <font style="letter-spacing:0.1pt;">and assumptions </font><font style="letter-spacing:0.15pt;">that </font><font style="letter-spacing:0.1pt;">impact </font><font style="letter-spacing:0.15pt;">the </font>reported <font style="letter-spacing:0.15pt;">amounts of </font>assets, <font style="letter-spacing:0.15pt;">liabilities, </font><font style="letter-spacing:0.1pt;">revenues and expenses and </font><font style="letter-spacing:0.15pt;">the </font><font style="letter-spacing:0.1pt;">disclosure </font><font style="letter-spacing:0.15pt;">of </font><font style="letter-spacing:0.2pt;">contingent </font>assets <font style="letter-spacing:0.1pt;">and </font><font style="letter-spacing:0.15pt;">liabilities. </font><font style="letter-spacing:0.1pt;">Significant </font>estimates <font style="letter-spacing:0.1pt;">consist </font><font style="letter-spacing:0.15pt;">of those </font>used to determine <font style="letter-spacing:0.15pt;">the </font>fair <font style="letter-spacing:0.15pt;">value of the </font><font style="letter-spacing:0.1pt;">Company&#8217;s </font>preferred <font style="letter-spacing:0.1pt;">stock, </font>preferred <font style="letter-spacing:0.1pt;">stock</font> warrant <font style="letter-spacing:0.15pt;">liability</font> and stock-based awards<font style="letter-spacing:0.15pt;">, </font><font style="letter-spacing:0.1pt;">and </font><font style="letter-spacing:0.15pt;">those </font>used to determine grant <font style="letter-spacing:0.1pt;">revenue and </font>accruals for research <font style="letter-spacing:0.1pt;">and </font><font style="letter-spacing:0.15pt;">development </font>costs. <font style="letter-spacing:0.15pt;">Although </font><font style="letter-spacing:0.1pt;">these </font>estimates are based <font style="letter-spacing:0.15pt;">on the </font><font style="letter-spacing:0.1pt;">Company&#8217;s</font><font style="letter-spacing:-0.45pt;"> </font><font style="letter-spacing:0.15pt;">knowledge</font><font style="letter-spacing:-0.3pt;"> </font><font style="letter-spacing:0.15pt;">of</font><font style="letter-spacing:-0.65pt;"> </font>current<font style="letter-spacing:-0.2pt;"> </font><font style="letter-spacing:0.15pt;">events</font><font style="letter-spacing:-0.45pt;"> </font><font style="letter-spacing:0.1pt;">and</font><font style="letter-spacing:-0.1pt;"> </font><font style="letter-spacing:0.15pt;">actions</font><font style="letter-spacing:-0.45pt;"> </font>it<font style="letter-spacing:-0.2pt;"> </font>may<font style="letter-spacing:-0.15pt;"> </font><font style="letter-spacing:0.15pt;">undertake</font><font style="letter-spacing:-0.3pt;"> </font>in<font style="letter-spacing:-0.1pt;"> </font><font style="letter-spacing:0.15pt;">the</font><font style="letter-spacing:-0.3pt;"> </font>future,<font style="letter-spacing:-0.6pt;"> </font><font style="letter-spacing:0.1pt;">actual</font><font style="letter-spacing:-0.2pt;"> </font>results<font style="letter-spacing:-0.45pt;"> </font>may<font style="letter-spacing:-0.1pt;"> </font><font style="letter-spacing:0.1pt;">ultimately</font><font style="letter-spacing:-0.15pt;"> </font>materially<font style="letter-spacing:-0.1pt;"> </font>differ<font style="letter-spacing:-0.65pt;"> </font>from<font style="letter-spacing:-0.45pt;"> </font><font style="letter-spacing:0.1pt;">these</font><font style="letter-spacing:-0.3pt;"> </font>estimates <font style="letter-spacing:0.1pt;">and</font><font style="letter-spacing:0.05pt;"> </font><font style="letter-spacing:0.1pt;">assumptions.</font></p>
CY2019Q3 onct Preferred Stock Warrant Liability
PreferredStockWarrantLiability
1300000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.29
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.024
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.027
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.753
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.764
CY2018 onct Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term Minimum
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTermMinimum
P3Y8M12D
CY2018 onct Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term Maximum
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTermMaximum
P4Y
CY2018Q4 us-gaap Grants Receivable
GrantsReceivable
100000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2019Q3 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
42000
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
63000
CY2018Q3 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
150000
us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
180000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2809
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6313
CY2019Q3 onct Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
1454000
CY2018Q4 onct Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
720000
CY2019Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
199000
CY2018Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
20000
CY2019Q3 onct Accrued Unvested Share Liability
AccruedUnvestedShareLiability
27000
CY2018Q4 onct Accrued Unvested Share Liability
AccruedUnvestedShareLiability
54000
CY2019Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
466000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
85000
CY2019Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
289000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
60000
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
40000
CY2019Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
-5177000
CY2019Q2 us-gaap Research And Development In Process
ResearchAndDevelopmentInProcess
18088000
CY2019Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
60000000
CY2019Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2019Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q3 onct Liability For Unvested Cash Settled Share Based Payment Transactions
LiabilityForUnvestedCashSettledShareBasedPaymentTransactions
27000
CY2018Q4 onct Liability For Unvested Cash Settled Share Based Payment Transactions
LiabilityForUnvestedCashSettledShareBasedPaymentTransactions
54000
CY2018Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
100000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
41000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
166000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
41000
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
248000
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
23000
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
225000
us-gaap General Insurance Expense
GeneralInsuranceExpense
1200000
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0
CY2019Q2 onct Common Stock Shares Outstanding Prior To Stock Split
CommonStockSharesOutstandingPriorToStockSplit
3458170
CY2019Q2 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
29049000
CY2019Q2 us-gaap Noncash Merger Related Costs
NoncashMergerRelatedCosts
2154000
CY2019Q2 onct Asset Acquisition Purchase Price
AssetAcquisitionPurchasePrice
31203000
CY2019Q2 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
18292000
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.016
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.016
CY2019Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.769
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.769
CY2019Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M24D
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
90000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
42000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
192000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
126000
CY2019Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
4200000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y8M12D
CY2019Q3 onct Common Stock Warrants Reserved For Future Issuance
CommonStockWarrantsReservedForFutureIssuance
841000
CY2019Q3 onct Common Stock Options Issued And Outstanding For Future Issuance
CommonStockOptionsIssuedAndOutstandingForFutureIssuance
1928000
CY2019Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
3298000

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