2022 Q4 Form 10-Q Financial Statement
#000149315222031256 Filed on November 10, 2022
Income Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
Revenue | $1.708M | $1.872M | $456.0K |
YoY Change | 274.56% | 75.12% | -77.2% |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $1.566M | $1.685M | $1.540M |
YoY Change | 1.69% | 1.75% | 9.22% |
% of Gross Profit | |||
Research & Development | $4.467M | $5.287M | $2.959M |
YoY Change | 50.96% | 31.32% | -9.51% |
% of Gross Profit | |||
Depreciation & Amortization | $39.00K | $41.00K | $35.00K |
YoY Change | 11.43% | -10.87% | -41.67% |
% of Gross Profit | |||
Operating Expenses | $6.033M | $6.972M | $4.499M |
YoY Change | 34.1% | 22.7% | -3.66% |
Operating Profit | -$5.100M | ||
YoY Change | -37.73% | ||
Interest Expense | $191.0K | $102.0K | $1.000K |
YoY Change | 19000.0% | 10100.0% | |
% of Operating Profit | |||
Other Income/Expense, Net | -$82.00K | $48.00K | $11.00K |
YoY Change | -845.45% | 860.0% | -104.78% |
Pretax Income | -$4.216M | -$5.052M | -$4.031M |
YoY Change | 4.59% | -38.27% | 39.0% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$4.216M | -$5.052M | -$4.031M |
YoY Change | 4.59% | -38.27% | 39.0% |
Net Earnings / Revenue | -246.84% | -269.87% | -883.99% |
Basic Earnings Per Share | -$1.45 | ||
Diluted Earnings Per Share | -$1.16 | -$1.452M | -$1.404M |
COMMON SHARES | |||
Basic Shares Outstanding | 3.639M shares | 3.478M shares | |
Diluted Shares Outstanding | 3.478B shares |
Balance Sheet
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $35.63M | $40.68M | $53.84M |
YoY Change | -33.83% | -23.94% | 70.06% |
Cash & Equivalents | $35.63M | $40.68M | $53.84M |
Short-Term Investments | |||
Other Short-Term Assets | $1.221M | $2.066M | $871.0K |
YoY Change | 40.18% | 120.26% | 10.25% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $1.298M | $476.0K | $67.00K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $38.15M | $43.23M | $54.78M |
YoY Change | -30.36% | -20.6% | 68.34% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $235.0K | $265.0K | $2.414M |
YoY Change | -90.27% | -76.04% | 30.49% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $389.0K | $428.0K | $1.625M |
YoY Change | -76.06% | 109.8% | 712.5% |
Total Long-Term Assets | $2.806M | $3.225M | $4.039M |
YoY Change | -30.53% | 146.18% | -28.26% |
TOTAL ASSETS | |||
Total Short-Term Assets | $38.15M | $43.23M | $54.78M |
Total Long-Term Assets | $2.806M | $3.225M | $4.039M |
Total Assets | $40.95M | $46.45M | $58.82M |
YoY Change | -30.37% | -16.68% | 54.09% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $1.188M | $1.155M | $839.0K |
YoY Change | 41.6% | 32.0% | -9.78% |
Accrued Expenses | $2.495M | $2.748M | $2.664M |
YoY Change | -6.34% | 20.37% | -15.7% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $5.022M | $6.324M | $4.442M |
YoY Change | 13.06% | 23.23% | -46.16% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $4.822M | $5.080M | $6.926M |
YoY Change | -30.38% | -6.32% | 2.15% |
Total Long-Term Liabilities | $4.822M | $5.080M | $6.926M |
YoY Change | -30.38% | -6.32% | 2.15% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $5.022M | $6.324M | $4.442M |
Total Long-Term Liabilities | $4.822M | $5.080M | $6.926M |
Total Liabilities | $9.844M | $11.40M | $11.37M |
YoY Change | -13.41% | 8.04% | -24.36% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$273.5M | -$269.3M | -$254.6M |
YoY Change | 7.4% | ||
Common Stock | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $31.11M | $35.05M | $47.45M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $40.95M | $46.45M | $58.82M |
YoY Change | -30.37% | -16.68% | 54.09% |
Cashflow Statement
Concept | 2022 Q4 | 2022 Q3 | 2021 Q4 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$4.216M | -$5.052M | -$4.031M |
YoY Change | 4.59% | -38.27% | 39.0% |
Depreciation, Depletion And Amortization | $39.00K | $41.00K | $35.00K |
YoY Change | 11.43% | -10.87% | -41.67% |
Cash From Operating Activities | -$5.046M | -$3.604M | -$4.396M |
YoY Change | 14.79% | 8.82% | 59.28% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $9.000K | $0.00 | -$26.00K |
YoY Change | -134.62% | -100.0% | -67.5% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | |||
YoY Change | |||
Cash From Investing Activities | -$9.000K | $0.00 | -$26.00K |
YoY Change | -65.38% | -100.0% | -67.5% |
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 | 1.382M | 6.192M |
YoY Change | -100.0% | ||
NET CHANGE | |||
Cash From Operating Activities | -5.046M | -3.604M | -4.396M |
Cash From Investing Activities | -9.000K | 0.000 | -26.00K |
Cash From Financing Activities | 0.000 | 1.382M | 6.192M |
Net Change In Cash | -5.055M | -2.222M | 1.770M |
YoY Change | -385.59% | -34.88% | -162.32% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$5.046M | -$3.604M | -$4.396M |
Capital Expenditures | $9.000K | $0.00 | -$26.00K |
Free Cash Flow | -$5.055M | -$3.604M | -$4.370M |
YoY Change | 15.68% | 12.2% | 63.06% |
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Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2812454 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
3383171 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
2654099 | shares | |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
47449000 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
281000 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4973000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
42757000 | usd |
CY2022Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
277000 | usd |
CY2022Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4595000 | usd |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
38439000 | usd |
CY2022Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
1382000 | usd |
CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
277000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-5052000 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
35046000 | usd |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23139000 | usd |
CY2021Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
37079000 | usd |
CY2021Q1 | PULM |
Stock Issued During Period Value Exercise Of Warrants
StockIssuedDuringPeriodValueExerciseOfWarrants
|
204000 | usd |
CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
328000 | usd |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-4104000 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
56646000 | usd |
CY2021Q2 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
299000 | usd |
CY2021Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3852000 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
53093000 | usd |
CY2021Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
53093000 | usd |
CY2021Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
284000 | usd |
CY2021Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-8184000 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
45193000 | usd |
CY2021Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
45193000 | usd |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-14620000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-16140000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
123000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
134000 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
1033000 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
728000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
835000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
911000 | usd | |
us-gaap |
Goodwill Impairment Loss
GoodwillImpairmentLoss
|
3577000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
409000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-75000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1042000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
141000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
428000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
478000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-50000 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
1515000 | usd | |
us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-643000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-1007000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-845000 | usd | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-788000 | usd | |
us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-2937000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-14310000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-15331000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
77000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
118000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-77000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-118000 | usd | |
us-gaap |
Payments For Repurchase Of Preferred Stock And Preference Stock
PaymentsForRepurchaseOfPreferredStockAndPreferenceStock
|
152000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
1382000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
37079000 | usd | |
us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
204000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
1230000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
37283000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-13157000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
21834000 | usd | |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
55465000 | usd |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
31861000 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
42308000 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
53695000 | usd |
CY2022Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
40683000 | usd |
CY2021Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
53491000 | usd |
CY2022Q3 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
153000 | usd |
CY2022Q3 | us-gaap |
Restricted Cash And Investments
RestrictedCashAndInvestments
|
1472000 | usd |
CY2021Q3 | us-gaap |
Restricted Cash And Investments
RestrictedCashAndInvestments
|
204000 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
42308000 | usd |
CY2021Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
53695000 | usd |
us-gaap |
Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
|
1081000 | usd | |
CY2021Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
2961000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
|
1-for-20 reverse stock split | |
us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_84D_eus-gaap--UseOfEstimates_zur4gXzpfGF6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_862_zGp5NAJywk12">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In preparing condensed consolidated financial statements in conformity with U.S. GAAP, management is required 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, as well as the reported amounts of expenses during the reporting period. Due to inherent uncertainty involved in making estimates, actual results may differ from these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions. The most significant estimates and assumptions in the Company’s condensed consolidated financial statements include, but are not limited to, estimates of future expected costs in order to derive and recognize revenue, estimates related to clinical trial accruals and upfront deposits, fair value used to record preferred stock and warrant transactions, incremental borrowing rate, and accounting for income taxes and the related valuation allowance.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zfNVWtXDk0mh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zMJf78Ue8Mu2">Concentrations of Credit Risk and Off-Balance Sheet Arrangements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash is a financial instrument that potentially subjects the Company to concentrations of credit risk. For all periods presented, substantially all of the Company’s cash was deposited in an account at a single financial institution that management believes is creditworthy. The Company is exposed to credit risk in the event of default by these financial institutions for amounts in excess of the Federal Deposit Insurance Corporation insured limits. The Company maintains its cash at a high-quality financial institution and has not incurred any losses to date.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For the nine months ended September 30, 2022, one customer accounted for <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zXMbgdBPvD2l">99% </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of revenue recognized in the accompanying financial statements. For the nine months ended September 30, 2021, two customers accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_z9CrfSAGVQy">99% </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of revenue recognized in the accompanying financial statements. As of September 30, 2022, one customer accounted for <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zQkDt0aiPVsl">99% </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of accounts receivable recorded in the accompanying financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | ||
CY2022Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2750000 | usd |
CY2021Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2640000 | usd |
CY2022Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
265000 | usd |
CY2021Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
321000 | usd |
CY2022Q3 | PULM |
Prepaid Clinical And Consulting
PrepaidClinicalAndConsulting
|
1239000 | usd |
CY2021Q4 | PULM |
Prepaid Clinical And Consulting
PrepaidClinicalAndConsulting
|
230000 | usd |
CY2022Q3 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
428000 | usd |
CY2021Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
325000 | usd |
CY2022Q3 | PULM |
Prepaid Software And Hosting Costs
PrepaidSoftwareAndHostingCosts
|
140000 | usd |
CY2022Q3 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
106000 | usd |
CY2021Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
316000 | usd |
CY2022Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1913000 | usd |
CY2021Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
871000 | usd |
CY2022Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
3015000 | usd |
CY2022Q3 | PULM |
Transaction Costs
TransactionCosts
|
22000000.0 | usd |
CY2022Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2022Q1 | us-gaap |
Preferred Stock Voting Rights
PreferredStockVotingRights
|
The Series A Preferred Stock does not have any mandatory redemption provisions, contingently redeemable redemption provisions, preferential dividend rights, liquidation preferences, or voting rights, apart from mirrored, non-discretionary voting rights with common stock as a single class, equal to 100,000 votes per share of common stock underlying the Series A Preferred Stock on the Reverse Stock Split proposal which was approved by the Company’s stockholders at a special stockholder meeting on February 10, 2022 | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
123000 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
134000 | usd | |
CY2022Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
1506000 | usd |
CY2021Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
97000 | usd |
CY2022Q3 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
960000 | usd |
CY2021Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
1051000 | usd |
CY2022Q3 | PULM |
Accrued Legal And Patent Current
AccruedLegalAndPatentCurrent
|
126000 | usd |
CY2021Q4 | PULM |
Accrued Legal And Patent Current
AccruedLegalAndPatentCurrent
|
58000 | usd |
CY2022Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
156000 | usd |
CY2021Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
27000 | usd |
CY2022Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
2748000 | usd |
CY2021Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1233000 | usd |
PULM |
Agreement Description
AgreementDescription
|
The Company and Cipla will each be responsible for 60% and 40%, respectively, of the Company’s overhead costs and the time spent by the Company’s employees and consultants on development of the Product (“Direct Costs”), in addition to which, Cipla will reimburse the Company an amount equal to 10% of aggregate Direct Costs upon the achievement of certain development milestones set forth in the table below, potentially bringing the sharing of Direct Costs to a 50/50 basis. The Company will continue to share all other development costs with Cipla that are not Direct Costs, such as the cost of clinical research organizations, manufacturing costs and other third-party costs, on a 50/50 basis | ||
CY2022Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
500000 | shares |
PULM |
Warrants Expired Shares
WarrantsExpiredShares
|
254942 | shares | |
CY2022Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
277000 | usd |
CY2021Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
284000 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
835000 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
911000 | usd | |
us-gaap |
Payments To Acquire In Process Research And Development
PaymentsToAcquireInProcessResearchAndDevelopment
|
4400000 | usd | |
us-gaap |
Reimbursement From Limited Partnership Investment
ReimbursementFromLimitedPartnershipInvestment
|
1900000 | usd | |
CY2022Q3 | us-gaap |
Other Commitment
OtherCommitment
|
4400000 | usd |
CY2022Q3 | us-gaap |
Other Commitment Due In Next Twelve Months
OtherCommitmentDueInNextTwelveMonths
|
4000000.0 | usd |
CY2022Q3 | us-gaap |
Other Commitment Due After Fifth Year
OtherCommitmentDueAfterFifthYear
|
400000 | usd |
CY2022Q3 | us-gaap |
Area Of Land
AreaOfLand
|
22000 | |
CY2022Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
357000 | usd |
CY2021Q3 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
259000 | usd |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
1072000 | usd | |
us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
777000 | usd | |
CY2022Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
206000 | usd |
CY2021Q3 | us-gaap |
Variable Lease Cost
VariableLeaseCost
|
97000 | usd |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
556000 | usd | |
us-gaap |
Variable Lease Cost
VariableLeaseCost
|
319000 | usd | |
CY2022Q3 | us-gaap |
Lease Cost
LeaseCost
|
563000 | usd |
CY2021Q3 | us-gaap |
Lease Cost
LeaseCost
|
356000 | usd |
us-gaap |
Lease Cost
LeaseCost
|
1628000 | usd | |
us-gaap |
Lease Cost
LeaseCost
|
1096000 | usd | |
us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
7000 | usd | |
us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
11000 | usd | |
CY2022Q3 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
431000 | usd |
CY2021Q3 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
299000 | usd |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
1046000 | usd | |
us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
896000 | usd | |
CY2022Q3 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P0Y8M12D | |
CY2022Q3 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.030 | pure |
CY2022Q3 | us-gaap |
Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
|
431000 | usd |
CY2022Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
863000 | usd |
CY2022Q3 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1294000 | usd |
CY2022Q3 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
13000 | usd |
CY2022Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1281000 | usd |
CY2022Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
1281000 | usd |
CY2022Q3 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1281000 | usd |
CY2022Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1592721000 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1592721000 | shares | |
CY2021Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1416435000 | shares |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
1416435000 | shares |