$PIRS
PIERIS PHARMACEUTICALS, INC.

2015 Q3 Form 10-Q Financial Statement

#000119312515290039 Filed on August 13, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q4
Revenue $414.6K $160.2K $3.280M
YoY Change 2114.32% -77.05%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.240M $1.970M $2.860M
YoY Change 140.86% -16.17%
% of Gross Profit
Research & Development $2.052M $1.726M $2.330M
YoY Change 121.42% 54.22%
% of Gross Profit
Depreciation & Amortization $80.00K $70.00K $90.00K
YoY Change -11.11% -22.22%
% of Gross Profit
Operating Expenses $4.294M $3.695M $5.190M
YoY Change 130.91% 230.2%
Operating Profit -$3.880M -$3.534M
YoY Change 110.74% 27.6%
Interest Expense $0.00 $53.00 -$2.250M
YoY Change -100.0% -99.95%
% of Operating Profit
Other Income/Expense, Net -$1.929K $4.484K $0.00
YoY Change -1403.38% 115.47%
Pretax Income -$3.882M -$3.530M -$4.170M
YoY Change 91.96% 22.5%
Income Tax $40.44K $0.00 $0.00
% Of Pretax Income
Net Earnings -$3.922M -$3.530M -$4.170M
YoY Change 93.96% 22.5%
Net Earnings / Revenue -946.01% -2202.89% -127.13%
Basic Earnings Per Share
Diluted Earnings Per Share -$100.8K -$119.9K -$64.48K
COMMON SHARES
Basic Shares Outstanding 39.73M shares 29.43M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.30M $10.00M $18.50M
YoY Change
Cash & Equivalents $32.25M $10.03M $18.47M
Short-Term Investments
Other Short-Term Assets $1.285M $1.866M $1.207M
YoY Change 168.4%
Inventory
Prepaid Expenses $589.9K $732.2K $109.3K
Receivables $17.36K $0.00
Other Receivables $0.00
Total Short-Term Assets $34.15M $12.64M $19.81M
YoY Change 310.87%
LONG-TERM ASSETS
Property, Plant & Equipment $1.928M $1.811M $2.052M
YoY Change -15.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $97.11K $0.00 $0.00
YoY Change
Total Long-Term Assets $2.050M $1.836M $2.052M
YoY Change -16.46%
TOTAL ASSETS
Total Short-Term Assets $34.15M $12.64M $19.81M
Total Long-Term Assets $2.050M $1.836M $2.052M
Total Assets $36.20M $14.48M $21.86M
YoY Change 200.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.100M $2.100M $1.300M
YoY Change
Accrued Expenses $1.034M $635.6K $986.6K
YoY Change 76.3%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $1.300M
YoY Change
Total Short-Term Liabilities $2.242M $3.022M $3.517M
YoY Change 98.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $300.0K $307.9K $334.0K
YoY Change
Total Long-Term Liabilities $300.0K $307.9K $334.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.242M $3.022M $3.517M
Total Long-Term Liabilities $300.0K $307.9K $334.0K
Total Liabilities $2.550M $3.330M $3.851M
YoY Change -42.45%
SHAREHOLDERS EQUITY
Retained Earnings -$76.96M -$73.04M -$65.81M
YoY Change 17.6%
Common Stock $39.76K $29.43K $29.28K
YoY Change 147.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $33.65M $11.15M $18.01M
YoY Change
Total Liabilities & Shareholders Equity $36.20M $14.48M $21.86M
YoY Change 200.37%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q4
OPERATING ACTIVITIES
Net Income -$3.922M -$3.530M -$4.170M
YoY Change 93.96% 22.5%
Depreciation, Depletion And Amortization $80.00K $70.00K $90.00K
YoY Change -11.11% -22.22%
Cash From Operating Activities -$3.530M -$2.960M $20.00K
YoY Change 110.12% -1.0%
INVESTING ACTIVITIES
Capital Expenditures -$200.0K -$30.00K -$260.0K
YoY Change 1900.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$200.0K -$30.00K -$260.0K
YoY Change 1900.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 25.78M -170.0K 17.85M
YoY Change 1946.03% -113.93%
NET CHANGE
Cash From Operating Activities -3.530M -2.960M 20.00K
Cash From Investing Activities -200.0K -30.00K -260.0K
Cash From Financing Activities 25.78M -170.0K 17.85M
Net Change In Cash 22.05M -3.160M 17.61M
YoY Change -5227.91% 78.53%
FREE CASH FLOW
Cash From Operating Activities -$3.530M -$2.960M $20.00K
Capital Expenditures -$200.0K -$30.00K -$260.0K
Free Cash Flow -$3.330M -$2.930M $280.0K
YoY Change 99.4% -2.01%

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ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitureRate
0.060 pure
pirs Share Based Compensation Arrangement By Share Based Payment Award Options Vested Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedOutstandingWeightedAverageExercisePrice
2.03
CY2014Q4 pirs Warrant Exercisable Period
WarrantExercisablePeriod
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CY2014 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
664064
CY2014Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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11828974 shares
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.24
CY2014Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
130456
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000 pure
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
72235 shares
CY2015Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6654
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2881637
CY2014Q2 us-gaap Operating Income Loss
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-2769925
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ComprehensiveIncomeNetOfTax
-2874983
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2014Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
6654
CY2014Q2 us-gaap Revenues
Revenues
698227
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-2881637
CY2014Q2 us-gaap Interest Expense
InterestExpense
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CY2014Q2 us-gaap Research And Development Expense
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CY2014Q2 us-gaap General And Administrative Expense
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CY2015Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
25000 shares
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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0
CY2015Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
CY2015Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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CY2015Q1 pirs Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Remaining Contractual Term
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CY2015Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0173 pure
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
29429522 shares
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
0
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0 shares
CY2015Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
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CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.737 pure
CY2015Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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102135
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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-3529999
CY2015Q2 us-gaap Operating Income Loss
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-3427864
CY2015Q2 us-gaap Other Nonoperating Income Expense
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4484
CY2015Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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102135
CY2015Q2 us-gaap Revenues
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160244
CY2015Q2 us-gaap Net Income Loss
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CY2015Q2 us-gaap Allocated Share Based Compensation Expense
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268039
CY2015Q2 us-gaap Interest Expense
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53
CY2015Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1725592
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
3694674
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1969082
CY2015Q2 pirs Share Based Compensation Arrangement By Share Based Payment Award Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitureRate
0.060 pure

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