$PBLA
Panbela Therapeutics, Inc.

2016 Q2 Form 10-Q Financial Statement

#000143774916037081 Filed on August 11, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $420.0K $590.0K
YoY Change -28.81% 43.9%
% of Gross Profit
Research & Development $530.0K $608.0K
YoY Change -12.83%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $530.0K $608.0K
YoY Change -12.83% -43.18%
Operating Profit -$949.0K -$1.193M
YoY Change -20.45%
Interest Expense $45.00K $46.00K
YoY Change -2.17% -176.67%
% of Operating Profit
Other Income/Expense, Net -$119.0K -$60.00K
YoY Change 98.33%
Pretax Income -$1.068M -$1.253M
YoY Change -14.76% -7.87%
Income Tax -$90.00K -$38.00K
% Of Pretax Income
Net Earnings -$978.0K -$1.215M
YoY Change -19.51% -6.54%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$293.1K -$1.848M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.900M $60.00K
YoY Change 3066.67% -50.0%
Cash & Equivalents $1.898M $1.005M
Short-Term Investments
Other Short-Term Assets $50.00K $0.00
YoY Change
Inventory
Prepaid Expenses $53.00K
Receivables $120.0K
Other Receivables $0.00
Total Short-Term Assets $2.144M $180.0K
YoY Change 1091.11% -51.35%
LONG-TERM ASSETS
Property, Plant & Equipment $10.00K
YoY Change 0.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change
Total Long-Term Assets $0.00 $20.00K
YoY Change -100.0% 100.0%
TOTAL ASSETS
Total Short-Term Assets $2.144M $180.0K
Total Long-Term Assets $0.00 $20.00K
Total Assets $2.144M $200.0K
YoY Change 972.0% -47.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $797.0K $0.00
YoY Change -100.0%
Accrued Expenses $643.0K $10.00K
YoY Change 6330.0% -85.71%
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 $1.725M $570.0K
YoY Change 202.63% -14.93%
LONG-TERM LIABILITIES
Long-Term Debt $291.0K $0.00
YoY Change
Other Long-Term Liabilities $50.00K
YoY Change
Total Long-Term Liabilities $3.058M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.725M $570.0K
Total Long-Term Liabilities $3.058M $0.00
Total Liabilities $4.783M $570.0K
YoY Change 739.12% -14.93%
SHAREHOLDERS EQUITY
Retained Earnings -$15.47M
YoY Change
Common Stock $32.00K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$2.639M -$370.0K
YoY Change
Total Liabilities & Shareholders Equity $2.144M $200.0K
YoY Change 972.0% -47.37%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$978.0K -$1.215M
YoY Change -19.51% -6.54%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$90.00K -$1.240M
YoY Change -92.74% -12500.0%
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 1.600M 1.080M
YoY Change 48.15%
NET CHANGE
Cash From Operating Activities -90.00K -1.240M
Cash From Investing Activities
Cash From Financing Activities 1.600M 1.080M
Net Change In Cash 1.510M -160.0K
YoY Change -1043.75% -420.0%
FREE CASH FLOW
Cash From Operating Activities -$90.00K -$1.240M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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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">We operate 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 $15.5 million since our inception in 2011. For the six months ended June 30, 2016, we incurred a net loss and negative cash flows from operating activities of $1.8 million and $631,000, respectively. We expect to incur substantial losses for the foreseeable future, which will continue to generate negative 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 June 30, 2016, we had cash and cash equivalents of $1.9 million, working capital of $419,000 and stockholders&#x2019; deficit of $2.6 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 condensed 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 condensed<div style="display: inline; font-weight: bold;"> </div>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 on 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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<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="display: inline; font-family: times new roman; font-size: 10pt"><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 condensed 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 condensed 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></div></div></div>
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Files In Submission

Name View Source Status
0001437749-16-037081-index-headers.html Edgar Link pending
0001437749-16-037081-index.html Edgar Link pending
0001437749-16-037081.txt Edgar Link pending
0001437749-16-037081-xbrl.zip Edgar Link pending
ex10-4.htm Edgar Link pending
ex10-5.htm Edgar Link pending
ex2-1.htm Edgar Link pending
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