$PBLA
Panbela Therapeutics, Inc.

2016 Q1 Form 10-Q Financial Statement

#000143774916031586 Filed on May 12, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $480.0K $1.200M
YoY Change -60.0% 1100.0%
% of Gross Profit
Research & Development $494.0K $987.0K
YoY Change -49.95%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $494.0K $987.0K
YoY Change -49.95% 797.27%
Operating Profit -$975.0K -$2.183M
YoY Change -55.34% 1884.55%
Interest Expense $45.00K $47.00K
YoY Change -4.26% -570.0%
% of Operating Profit
Other Income/Expense, Net $36.00K -$65.00K
YoY Change -155.38%
Pretax Income -$939.0K -$2.248M
YoY Change -58.23% 1943.64%
Income Tax -$115.0K -$57.00K
% Of Pretax Income
Net Earnings -$824.0K -$2.191M
YoY Change -62.39% 1891.82%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$274.2K -$3.650M
COMMON SHARES
Basic Shares Outstanding 29.89M
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $380.0K $240.0K
YoY Change 58.33% 242.86%
Cash & Equivalents $383.0K $1.170M
Short-Term Investments
Other Short-Term Assets $170.0K $0.00
YoY Change
Inventory
Prepaid Expenses $165.0K
Receivables $100.0K
Other Receivables $0.00
Total Short-Term Assets $1.452M $340.0K
YoY Change 327.06% -12.82%
LONG-TERM ASSETS
Property, Plant & Equipment $10.00K
YoY Change -50.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $0.00 $10.00K
YoY Change -100.0% -80.0%
TOTAL ASSETS
Total Short-Term Assets $1.452M $340.0K
Total Long-Term Assets $0.00 $10.00K
Total Assets $1.452M $350.0K
YoY Change 314.86% -20.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $808.0K $10.00K
YoY Change 7980.0% 0.0%
Accrued Expenses $816.0K $60.00K
YoY Change 1260.0% -14.29%
Deferred Revenue
YoY Change
Short-Term Debt $250.0K $560.0K
YoY Change -55.36% -1.75%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $1.909M $640.0K
YoY Change 198.28% -5.88%
LONG-TERM LIABILITIES
Long-Term Debt $289.0K $0.00
YoY Change
Other Long-Term Liabilities $40.00K
YoY Change
Total Long-Term Liabilities $3.048M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.909M $640.0K
Total Long-Term Liabilities $3.048M $0.00
Total Liabilities $4.957M $640.0K
YoY Change 674.53% -5.88%
SHAREHOLDERS EQUITY
Retained Earnings -$14.49M
YoY Change
Common Stock $30.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.505M -$290.0K
YoY Change
Total Liabilities & Shareholders Equity $1.452M $350.0K
YoY Change 314.86% -20.45%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income -$824.0K -$2.191M
YoY Change -62.39% 1891.82%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$540.0K -$920.0K
YoY Change -41.3% -4700.0%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 430.0K
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -540.0K -920.0K
Cash From Investing Activities
Cash From Financing Activities 0.000 430.0K
Net Change In Cash -540.0K -490.0K
YoY Change 10.2% -2550.0%
FREE CASH FLOW
Cash From Operating Activities -$540.0K -$920.0K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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CY2016Q1 us-gaap Nature Of Operations
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risks and Uncertainties</div></div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The Company operates in a highly regulated and competitive environment. The development, manufacturing and marketing of pharmaceutical products require approval from, and are subject to ongoing oversight by, the Food and Drug Administration (&#x201c;FDA&#x201d;) in the United States, the Therapeutic Goods Administration (&#x201c;TGA&#x201d;) in Australia, the European Medicines Agency (&#x201c;EMA&#x201d;) in the European Union, and comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, may take many years, and is normally expected to involve substantial expenditures.</div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">We have incurred losses of $14.5 million since SBR&#x2019;s inception in 2011. For the three months ended March 31, 2016, we incurred a net loss and negative cash flows from operating activities of $824,000 and $542,000, respectively. We expect to incur substantial losses for the foreseeable future, which will continue to generate negative net cash flows from operating activities, as we continue to pursue research and development activities and seek to commercialize our initial product candidate, SBP-101</div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">. As of March 31, 2016, we had cash and cash equivalents of $383,000, negative working capital of $457,000 and shareholders&#x2019; deficit of $3.5 million. The Company&#x2019;s principal sources of cash have historically included the issuance of convertible debt and equity securities. </div></div> <div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div> <div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The accompanying </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">condensed </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">consolidated financial statements have been prepared assuming that we will continue as a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">condensed<div style="display: inline; font-weight: bold;"> </div></div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">consolidated financial statements do not include any adjustments relating to the recoverability or classification of assets or the amounts of liabilities that might result from the outcome of these uncertainties. Our current independent registered public accounting firm, included a paragraph emphasizing this going concern uncertainty in their audit report our 2015 financial statements dated March 8, 2016. Our ability to continue as a going concern, realize the carrying value of our assets and discharge our liabilities in the ordinary course of business is dependent upon a number of factors, including our ability to obtain additional financing, the success of our development efforts, our ability to obtain marketing approval for our SBP-101 product candidate in the United States, Australia, the European Union or other markets and ultimately our ability to market and sell our SBP-101 product candidate. These factors, among others, raise substantial doubt about our ability to continue operations as a going concern. See note 4 entitled &#x201c;Liquidity and Management&#x2019;s Plans.&#x201d;</div></div></div>
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CY2016Q1 us-gaap Use Of Estimates
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<div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" TEXT-ALIGN: left; MARGIN: 0pt 0pt 0pt 9pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Use of estimates</div></div></div></div><div style=" MARGIN-BOTTOM: 0pt; MARGIN-TOP: 0pt"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">&nbsp;</div></div><div style=" TEXT-ALIGN: left; MARGIN: 0pt; LINE-HEIGHT: 1.25"><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">The preparation of </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">condensed </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">consolidated financial statements 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 </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">condensed </div><div style="display: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, Times, serif">consolidated financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.</div></div></div></div>
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CY2015Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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Files In Submission

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