$PIRS
Pieris Pharmaceuticals Inc

2021 Q4 Form 10-K Financial Statement

#000158364822000016 Filed on March 02, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $8.443M $31.42M $1.880M
YoY Change 349.1% 7.14% -89.11%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.085M $16.59M $3.670M
YoY Change 11.31% -0.7% -18.08%
% of Gross Profit
Research & Development $15.36M $66.66M $10.62M
YoY Change 44.6% 43.25% -24.79%
% of Gross Profit
Depreciation & Amortization $609.0K $2.400M $690.0K
YoY Change -11.74% 14.29% 165.38%
% of Gross Profit
Operating Expenses $19.44M $83.25M $14.29M
YoY Change 36.05% 31.63% -23.17%
Operating Profit -$51.83M
YoY Change 52.8%
Interest Expense -$6.000K $4.000K $10.00K
YoY Change -160.0% -99.22% -97.37%
% of Operating Profit
Other Income/Expense, Net $378.0K $2.404M -$1.830M
YoY Change -120.66% -165.75% -1116.67%
Pretax Income -$9.532M -$45.74M -$14.24M
YoY Change -33.06% 23.4% 1749.35%
Income Tax $0.00 $160.0K
% Of Pretax Income
Net Earnings -$9.532M -$45.70M -$14.40M
YoY Change -33.81% 22.85% 1770.13%
Net Earnings / Revenue -112.9% -145.46% -765.96%
Basic Earnings Per Share -$0.71
Diluted Earnings Per Share -$132.1K -$0.71 -$257.1K
COMMON SHARES
Basic Shares Outstanding 72.06M shares 64.55M shares 55.97M shares
Diluted Shares Outstanding 64.55M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.8M $117.8M $70.40M
YoY Change 67.28% 67.28% -32.44%
Cash & Equivalents $117.8M $117.8M $70.44M
Short-Term Investments $0.00
Other Short-Term Assets $6.548M $6.548M $3.600M
YoY Change 81.89% 81.89% -12.2%
Inventory
Prepaid Expenses
Receivables $3.313M $3.313M $1.706M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $127.6M $127.6M $75.72M
YoY Change 68.55% 68.59% -34.16%
LONG-TERM ASSETS
Property, Plant & Equipment $19.12M $23.03M $22.05M
YoY Change -13.26% -11.42% 13.04%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.904M $2.904M $3.309M
YoY Change -12.24% -12.0% 5.18%
Total Long-Term Assets $25.94M $25.94M $29.29M
YoY Change -11.45% -11.48% 12.29%
TOTAL ASSETS
Total Short-Term Assets $127.6M $127.6M $75.72M
Total Long-Term Assets $25.94M $25.94M $29.29M
Total Assets $153.6M $153.6M $105.0M
YoY Change 46.23% 46.25% -25.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.609M $8.609M $1.787M
YoY Change 381.76% 378.28% -69.21%
Accrued Expenses $14.83M $14.83M $7.731M
YoY Change 91.86% 97.77% -22.25%
Deferred Revenue $25.12M $12.63M
YoY Change 98.91% 12.18%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $50.56M $50.56M $22.15M
YoY Change 128.32% 128.78% -17.99%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $52.24M $6.000K
YoY Change -100.0% 0.86%
Total Long-Term Liabilities $0.00 $52.24M $6.000K
YoY Change -100.0% 0.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $50.56M $50.56M $22.15M
Total Long-Term Liabilities $0.00 $52.24M $6.000K
Total Liabilities $102.8M $102.8M $73.98M
YoY Change 38.96% 38.93% -17.56%
SHAREHOLDERS EQUITY
Retained Earnings -$257.1M -$211.4M
YoY Change 21.64% 21.37%
Common Stock $307.1M $242.7M
YoY Change 26.51% 6.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.76M $50.76M $31.03M
YoY Change
Total Liabilities & Shareholders Equity $153.6M $153.6M $105.0M
YoY Change 46.23% 46.25% -25.58%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$9.532M -$45.70M -$14.40M
YoY Change -33.81% 22.85% 1770.13%
Depreciation, Depletion And Amortization $609.0K $2.400M $690.0K
YoY Change -11.74% 14.29% 165.38%
Cash From Operating Activities -$10.94M -$7.660M -$13.42M
YoY Change -18.45% -83.31% -4.01%
INVESTING ACTIVITIES
Capital Expenditures -$342.0K $949.0K -$580.0K
YoY Change -41.03% -65.19% -50.43%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $15.43M
YoY Change -100.0% -100.0% -2273.24%
Cash From Investing Activities -$342.0K -$949.0K $14.85M
YoY Change -102.3% -102.42% -889.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $38.19M
YoY Change 296.8%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.901M $59.13M 80.00K
YoY Change 6026.25% 484.55% -99.75%
NET CHANGE
Cash From Operating Activities -10.94M -$7.660M -13.42M
Cash From Investing Activities -342.0K -$949.0K 14.85M
Cash From Financing Activities 4.901M $59.13M 80.00K
Net Change In Cash -6.385M $47.33M 1.510M
YoY Change -522.85% 478.86% -90.45%
FREE CASH FLOW
Cash From Operating Activities -$10.94M -$7.660M -$13.42M
Capital Expenditures -$342.0K $949.0K -$580.0K
Free Cash Flow -$10.60M -$8.609M -$12.84M
YoY Change -17.43% -82.29% 0.23%

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The preparation of the financial statements in accordance with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the related disclosures at the date of the financial statements and during the reporting period. Significant estimates are used for, but are not limited to, revenue recognition; deferred tax assets, deferred tax liabilities and valuation allowances; determination of the incremental borrowing rate to calculate right-of-use assets and lease liabilities; beneficial conversion features; fair value of stock options, preferred stock, and warrants; and prepaid and accrued clinical trial expenses. Management evaluates its estimates on an ongoing basis. Actual results and outcomes could differ materially from management’s estimates, judgments, and assumptions.
CY2021 us-gaap Concentration Risk Credit Risk
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<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentration of Credit Risk and Off-Balance Sheet Risk</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has no 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 minimizes the exposure to concentration of credit risk. The Company has not experienced any credit losses in such accounts and does not believe it is exposed to any significant credit risk on these funds. Accounts receivable primarily consist of amounts due under strategic partnership and other license agreements with major multi-national pharmaceutical companies for which the Company does not obtain collateral.</span></div>
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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23896000 USD
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LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9006000 USD
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
14890000 USD

Files In Submission

Name View Source Status
0001583648-22-000016-index-headers.html Edgar Link pending
0001583648-22-000016-index.html Edgar Link pending
0001583648-22-000016.txt Edgar Link pending
0001583648-22-000016-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
pirs-20211231.htm Edgar Link pending
pirs-20211231.xsd Edgar Link pending
pirs-20211231_cal.xml Edgar Link unprocessable
pirs-20211231_def.xml Edgar Link unprocessable
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pirs-20211231_htm.xml Edgar Link completed
pirs-20211231_lab.xml Edgar Link unprocessable
pirs-20211231_pre.xml Edgar Link unprocessable
pirs12312021ex1039.htm Edgar Link pending
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