$PIRS
Pieris Pharmaceuticals Inc

2024 Q4 Form 10-Q Financial Statement

#000143774924034891 Filed on November 13, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3 2023 Q3
Revenue $0.00 $19.52M
YoY Change -100.0% 263.5%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $6.840M
YoY Change 73.21%
% of Gross Profit
Research & Development $9.595M
YoY Change -29.39%
% of Gross Profit
Depreciation & Amortization $740.0K
YoY Change -3.52%
% of Gross Profit
Operating Expenses $3.135M $31.33M
YoY Change -89.99% 78.62%
Operating Profit -$3.135M -$11.81M
YoY Change -73.45% -2.97%
Interest Expense $169.0K $549.0K
YoY Change -69.22% 127.8%
% of Operating Profit
Other Income/Expense, Net $79.00K $506.0K
YoY Change -84.39% -30.01%
Pretax Income -$10.75M
YoY Change 10.41%
Income Tax
% Of Pretax Income
Net Earnings -$2.887M -$10.80M
YoY Change -73.27% 11.34%
Net Earnings / Revenue -55.33%
Basic Earnings Per Share -$2.19 -$0.11
Diluted Earnings Per Share -$2.19 -$0.11
COMMON SHARES
Basic Shares Outstanding 1.320M 1.320M 98.85M
Diluted Shares Outstanding 1.320M 1.236M

Balance Sheet

Concept 2024 Q4 2024 Q3 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.80M
YoY Change -35.84%
Cash & Equivalents $19.36M $32.89M
Short-Term Investments $11.90M
Other Short-Term Assets $13.30M
YoY Change 68.18%
Inventory
Prepaid Expenses
Receivables $373.0K $1.045M
Other Receivables $506.0K $0.00
Total Short-Term Assets $59.09M
YoY Change -24.78%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $287.0K
YoY Change -78.04%
Total Long-Term Assets $287.0K
YoY Change -98.61%
TOTAL ASSETS
Total Short-Term Assets $59.09M
Total Long-Term Assets $287.0K
Total Assets $20.52M $59.38M
YoY Change -65.44% -40.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $801.0K $2.816M
YoY Change -71.56% -22.66%
Accrued Expenses $24.50M
YoY Change 115.25%
Deferred Revenue $994.0K
YoY Change -94.63%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.254M $28.87M
YoY Change -85.26% -13.89%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.254M $28.87M
Total Long-Term Liabilities $0.00
Total Liabilities $28.87M
YoY Change -54.47%
SHAREHOLDERS EQUITY
Retained Earnings -$326.3M -$310.4M
YoY Change 5.12% 9.95%
Common Stock $1.000K $99.00K
YoY Change -98.99% 33.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $16.27M $30.51M
YoY Change
Total Liabilities & Shareholders Equity $20.52M $59.38M
YoY Change -65.44% -40.12%

Cashflow Statement

Concept 2024 Q4 2024 Q3 2023 Q3
OPERATING ACTIVITIES
Net Income -$2.887M -$10.80M
YoY Change -73.27% 11.34%
Depreciation, Depletion And Amortization $740.0K
YoY Change -3.52%
Cash From Operating Activities -$9.720M
YoY Change 10.73%
INVESTING ACTIVITIES
Capital Expenditures $60.00K
YoY Change -276.47%
Acquisitions
YoY Change
Other Investing Activities -$1.910M
YoY Change -134.7%
Cash From Investing Activities -$1.990M
YoY Change -136.38%
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
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -9.720M
Cash From Investing Activities -1.990M
Cash From Financing Activities 0.000
Net Change In Cash -11.71M
YoY Change 286.98%
FREE CASH FLOW
Cash From Operating Activities -$9.720M
Capital Expenditures $60.00K
Free Cash Flow -$9.780M
YoY Change 11.85%

Facts In Submission

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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-864000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
129000 usd
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
-89000 usd
us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
33804000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8330000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-34150000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
-0 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
184000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
9000000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
24007000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
2318000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
-0 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
15270000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
11318000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
8553000 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
0 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
52000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
19729000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
19781000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
-1021000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
75000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1967000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5741000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
17396000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
38635000 usd
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
19363000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
32894000 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
-1000 usd
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
74000 usd
CY2024Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
19400000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-2900000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-10800000 usd
us-gaap Net Income Loss
NetIncomeLoss
-11400000 usd
us-gaap Net Income Loss
NetIncomeLoss
-20000000 usd
CY2024Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-326300000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Concentration of Credit Risk and Off-Balance Sheet Risk</b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company has <em style="font: inherit;">no</em> financial instruments with off-balance sheet risk such as foreign exchange contracts, option contracts or other foreign hedging arrangements. Financial instruments that subject Pieris to concentrations of credit risk include cash and cash equivalents, investments, and accounts receivable. The Company’s cash, cash equivalents, and investments are held in accounts with financial institutions that management believes are creditworthy. The Company’s investment policy includes guidelines on the quality of the institutions and financial instruments and defines allowable investments that the Company believes minimize the exposure to concentration of credit risk. The Company has <em style="font: inherit;">not</em> experienced any credit losses in such accounts and does <em style="font: inherit;">not</em> believe it is exposed to any significant credit risk on these funds. Accounts receivable historically consisted of amounts due under strategic partnership and other license agreements with major multi-national pharmaceutical companies for which the Company does <em style="font: inherit;">not</em> obtain collateral.</p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p>
CY2024Q3 us-gaap Revenues
Revenues
0 usd
CY2023Q3 us-gaap Revenues
Revenues
19520000 usd
us-gaap Revenues
Revenues
53000 usd
us-gaap Revenues
Revenues
41511000 usd
CY2023Q3 pirs Decrease In Contract With Customer Liability
DecreaseInContractWithCustomerLiability
17100000 usd
pirs Decrease In Contract With Customer Liability
DecreaseInContractWithCustomerLiability
38700000 usd
CY2021Q2 us-gaap Grants Receivable
GrantsReceivable
17000000 usd
CY2024Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
11893000 usd
CY2023Q4 pirs Cash Equivalents And Investments
CashEquivalentsAndInvestments
22194000 usd
CY2024Q3 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
0 usd
CY2023Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group Current
AssetsHeldForSaleNotPartOfDisposalGroupCurrent
2188000 usd
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2306000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
6448000 usd
CY2024Q3 pirs Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
0 usd
CY2023Q4 pirs Accrued Research And Development Costs
AccruedResearchAndDevelopmentCosts
968000 usd
CY2024Q3 pirs Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
60000 usd
CY2023Q4 pirs Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
558000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1031000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
363000 usd
CY2024Q3 pirs Accrued Collaboration Costs Current
AccruedCollaborationCostsCurrent
56000 usd
CY2023Q4 pirs Accrued Collaboration Costs Current
AccruedCollaborationCostsCurrent
213000 usd
CY2024Q3 pirs Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
3453000 usd
CY2023Q4 pirs Accrued Liabilities And Other Liabilities Current
AccruedLiabilitiesAndOtherLiabilitiesCurrent
8550000 usd
CY2024Q3 us-gaap Net Income Loss
NetIncomeLoss
-2887000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-10752000 usd
us-gaap Net Income Loss
NetIncomeLoss
-11369000 usd
us-gaap Net Income Loss
NetIncomeLoss
-19959000 usd
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1320000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1236000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1285000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1089000
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1320000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1236000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1285000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1089000
CY2024Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.19
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.7
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-8.84
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-18.33
CY2024Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.19
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.7
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-8.84
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-18.33
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000
CY2024Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
3750000
CY2024Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1320240
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1236688
CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
15618
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
15618
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2024Q3 us-gaap Convertible Preferred Stock Shares Issued Upon Conversion
ConvertiblePreferredStockSharesIssuedUponConversion
13.34
CY2024Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
0 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
500000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1600000 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
0 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
280000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
0 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
862000 usd
CY2024Q3 us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
98000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
0 usd
us-gaap Variable Lease Cost
VariableLeaseCost
476000 usd
CY2024Q3 us-gaap Lease Cost
LeaseCost
0 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
378000 usd
us-gaap Lease Cost
LeaseCost
0 usd
us-gaap Lease Cost
LeaseCost
1338000 usd

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