$PIRS
PIERIS PHARMACEUTICALS, INC.

2015 Q4 Form 10-Q Financial Statement

#000119312515376834 Filed on November 13, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q4
Revenue $2.140M $414.6K $3.280M
YoY Change -34.76% 2114.32%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.760M $2.240M $2.860M
YoY Change -38.46% 140.86%
% of Gross Profit
Research & Development $2.940M $2.052M $2.330M
YoY Change 26.18% 121.42%
% of Gross Profit
Depreciation & Amortization $80.00K $80.00K $90.00K
YoY Change -11.11% -11.11%
% of Gross Profit
Operating Expenses $4.700M $4.294M $5.190M
YoY Change -9.44% 130.91%
Operating Profit -$3.880M
YoY Change 110.74%
Interest Expense -$180.0K $0.00 -$2.250M
YoY Change -92.0% -100.0%
% of Operating Profit
Other Income/Expense, Net $10.00K -$1.929K $0.00
YoY Change -1403.38%
Pretax Income -$2.740M -$3.882M -$4.170M
YoY Change -34.29% 91.96%
Income Tax $160.0K $40.44K $0.00
% Of Pretax Income
Net Earnings -$2.900M -$3.922M -$4.170M
YoY Change -30.46% 93.96%
Net Earnings / Revenue -135.51% -946.01% -127.13%
Basic Earnings Per Share
Diluted Earnings Per Share -$72.83K -$100.8K -$64.48K
COMMON SHARES
Basic Shares Outstanding 39.76M shares 39.73M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $29.30M $32.30M $18.50M
YoY Change 58.38%
Cash & Equivalents $29.35M $32.25M $18.47M
Short-Term Investments
Other Short-Term Assets $2.300M $1.285M $1.207M
YoY Change 90.54% 168.4%
Inventory
Prepaid Expenses $589.9K $109.3K
Receivables $0.00 $17.36K $0.00
Other Receivables $0.00
Total Short-Term Assets $31.66M $34.15M $19.81M
YoY Change 59.86% 310.87%
LONG-TERM ASSETS
Property, Plant & Equipment $2.163M $1.928M $2.052M
YoY Change 5.39% -15.81%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $126.8K $97.11K $0.00
YoY Change
Total Long-Term Assets $2.290M $2.050M $2.052M
YoY Change 11.56% -16.46%
TOTAL ASSETS
Total Short-Term Assets $31.66M $34.15M $19.81M
Total Long-Term Assets $2.290M $2.050M $2.052M
Total Assets $33.95M $36.20M $21.86M
YoY Change 55.32% 200.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.059M $1.100M $1.300M
YoY Change -18.57%
Accrued Expenses $1.739M $1.034M $986.6K
YoY Change 76.3% 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 -100.0%
Total Short-Term Liabilities $2.798M $2.242M $3.517M
YoY Change -20.45% 98.93%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $23.85K $300.0K $334.0K
YoY Change -92.86%
Total Long-Term Liabilities $23.85K $300.0K $334.0K
YoY Change -92.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.798M $2.242M $3.517M
Total Long-Term Liabilities $23.85K $300.0K $334.0K
Total Liabilities $2.822M $2.550M $3.851M
YoY Change -26.73% -42.45%
SHAREHOLDERS EQUITY
Retained Earnings -$79.87M -$76.96M -$65.81M
YoY Change 21.36% 17.6%
Common Stock $112.3M $39.76K $29.28K
YoY Change 383324.03% 147.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.13M $33.65M $18.01M
YoY Change
Total Liabilities & Shareholders Equity $33.95M $36.20M $21.86M
YoY Change 55.32% 200.37%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q4
OPERATING ACTIVITIES
Net Income -$2.900M -$3.922M -$4.170M
YoY Change -30.46% 93.96%
Depreciation, Depletion And Amortization $80.00K $80.00K $90.00K
YoY Change -11.11% -11.11%
Cash From Operating Activities -$2.500M -$3.530M $20.00K
YoY Change -12600.0% 110.12%
INVESTING ACTIVITIES
Capital Expenditures -$350.0K -$200.0K -$260.0K
YoY Change 34.62% 1900.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$350.0K -$200.0K -$260.0K
YoY Change 34.62% 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 10.00K 25.78M 17.85M
YoY Change -99.94% 1946.03%
NET CHANGE
Cash From Operating Activities -2.500M -3.530M 20.00K
Cash From Investing Activities -350.0K -200.0K -260.0K
Cash From Financing Activities 10.00K 25.78M 17.85M
Net Change In Cash -2.840M 22.05M 17.61M
YoY Change -116.13% -5227.91%
FREE CASH FLOW
Cash From Operating Activities -$2.500M -$3.530M $20.00K
Capital Expenditures -$350.0K -$200.0K -$260.0K
Free Cash Flow -$2.150M -$3.330M $280.0K
YoY Change -867.86% 99.4%

Facts In Submission

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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 18pt"> <b>Reclassifications</b></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt"> For comparability purposes, certain prior period amounts in the condensed consolidated financial statements have been reclassified to conform to the current period&#x2019;s presentation within the consolidated statements of cash flows.</p> </div>
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2015-08-27
pirs Share Based Compensation Arrangement By Share Based Payment Award Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitureRate
0.088 pure
pirs Non Cash Consulting Shares
NonCashConsultingShares
75000
CY2014 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
664064
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.17
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2014Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2014Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
11828974 shares
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-2022150
CY2014Q3 us-gaap Revenues
Revenues
18724
CY2014Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-181205
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-1841093
CY2014Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
148
CY2014Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
326303
CY2014Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
326303
CY2014Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1695847
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2022150
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
1859817
CY2014Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
926596
CY2014Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
933221
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.7343 pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0169 pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0189 pure
CY2015Q3 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.7265 pure
CY2015Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38890546 shares
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-3922252
CY2015Q3 us-gaap Revenues
Revenues
414610
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
-3879882
CY2015Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1929
CY2015Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
193415
CY2015Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
193415
CY2015Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3728837
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3881811
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
40441
CY2015Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
0
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
4294492
CY2015Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2051688
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
337790
CY2015Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2242804
CY2015Q3 pirs Share Based Compensation Arrangement By Share Based Payment Award Forfeiture Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeitureRate
0.088 pure

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