2023 Q2 Form 10-Q Financial Statement

#000121390023038533 Filed on May 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $12.29M $12.29M $13.28M
YoY Change -15.84% -7.47% 58.53%
% of Gross Profit
Research & Development $13.74M $15.86M $25.01M
YoY Change -55.55% -36.59% 78.41%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change
% of Gross Profit
Operating Expenses $26.03M $28.15M $38.30M
YoY Change -42.81% -26.49% 70.89%
Operating Profit -$26.03M -$28.15M
YoY Change -42.81%
Interest Expense $723.8K $1.832M -$1.448M
YoY Change -193.45% -226.49% -862.29%
% of Operating Profit
Other Income/Expense, Net $723.8K $1.832M
YoY Change -87.02%
Pretax Income -$25.30M -$26.32M -$39.75M
YoY Change -36.64% -33.78% 78.87%
Income Tax
% Of Pretax Income
Net Earnings -$25.30M -$26.32M -$39.75M
YoY Change -36.64% -33.78% 78.91%
Net Earnings / Revenue
Basic Earnings Per Share -$0.84 -$0.87
Diluted Earnings Per Share -$0.84 -$0.88 -$1.400M
COMMON SHARES
Basic Shares Outstanding 30.10M shares 30.10M shares
Diluted Shares Outstanding 30.10M shares 30.10M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.5M $132.4M $220.6M
YoY Change -44.08% -39.98% 114.85%
Cash & Equivalents $14.47M $28.89M $44.93M
Short-Term Investments $104.1M $103.5M $175.7M
Other Short-Term Assets $3.475M $3.090M $5.064M
YoY Change 1256.23% -38.99% 406.4%
Inventory
Prepaid Expenses $3.475M $3.090M
Receivables
Other Receivables
Total Short-Term Assets $122.0M $135.5M $225.8M
YoY Change -43.45% -39.97% 117.51%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.59K $34.88K $28.29K
YoY Change -1.84% 23.28%
Total Long-Term Assets $34.59K $34.88K $28.29K
YoY Change -1.84% 23.28% -71.71%
TOTAL ASSETS
Total Short-Term Assets $122.0M $135.5M $225.8M
Total Long-Term Assets $34.59K $34.88K $28.29K
Total Assets $122.0M $135.6M $225.8M
YoY Change -43.44% -39.96% 117.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.854M $4.422M $10.67M
YoY Change -35.63% -58.56% 31.73%
Accrued Expenses $5.849M $5.675M $4.739M
YoY Change -48.61% 19.75% 3.03%
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 $10.70M $10.10M $15.41M
YoY Change -43.44% -34.47% 21.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $10.70M $10.10M $15.41M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $10.70M $10.10M $15.41M
YoY Change -43.44% -34.47% 21.33%
SHAREHOLDERS EQUITY
Retained Earnings -$513.7M -$488.4M
YoY Change 33.53%
Common Stock $30.10K $30.10K
YoY Change 0.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $111.3M $125.5M $210.4M
YoY Change
Total Liabilities & Shareholders Equity $122.0M $135.6M $225.8M
YoY Change -43.44% -39.96% 117.33%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$25.30M -$26.32M -$39.75M
YoY Change -36.64% -33.78% 78.91%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change
Cash From Operating Activities -$13.27M -$16.51M -$19.43M
YoY Change -38.62% -15.05% 20.76%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$1.152M $40.00M -$10.03M
YoY Change 719.63% -498.93% -164.82%
Cash From Investing Activities -$1.152M $40.00M -$10.03M
YoY Change 719.63% -498.93% -164.82%
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 29.95M
YoY Change -100.0% 1451.73%
NET CHANGE
Cash From Operating Activities -13.27M -$16.51M -19.43M
Cash From Investing Activities -1.152M $40.00M -10.03M
Cash From Financing Activities 0.000 29.95M
Net Change In Cash -14.43M $23.50M 490.9K
YoY Change 87.98% 4686.42% -62.52%
FREE CASH FLOW
Cash From Operating Activities -$13.27M -$16.51M -$19.43M
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with U.S. GAAP requires management 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 financial statements and the reported amounts of revenues and expenses for the reporting period. Actual results could differ from those estimates. The significant estimates are stock-based compensation expenses and recorded amounts related to income taxes.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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AccruedVacationCurrent
529800 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
80900 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
258700 usd
CY2023Q1 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
5675300 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
7206900 usd
CY2022Q2 us-gaap Other Partners Capital
OtherPartnersCapital
100000000 usd
CY2014Q4 rlmd Granting To Option Or Stock Awards
GrantingToOptionOrStockAwards
5152942 shares
CY2021Q2 rlmd Granted Options
GrantedOptions
1500000 shares
CY2022Q2 rlmd Granted Options
GrantedOptions
3900000 shares
CY2022Q2 rlmd Granting To Option Or Stock Awards
GrantingToOptionOrStockAwards
10552942 shares
CY2023Q1 rlmd Stock Options Exercisable Period
StockOptionsExercisablePeriod
P10Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2023Q1 us-gaap Restricted Stock Shares Issued Net Of Shares For Tax Withholdings
RestrictedStockSharesIssuedNetOfSharesForTaxWithholdings
1934975 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.156 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Other Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOtherDescription
the Company has unrecognized stock-based compensation expense of approximately $84.5 million related to unvested stock options which will be recognized over the weighted average remaining service period of 2.62 years.
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
12122606 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
18.19
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
160939 shares
CY2023Q1 rlmd Weighted Average Remaining Contractual Term Years Ending Balance1
WeightedAverageRemainingContractualTermYearsEndingBalance1
P8Y3M29D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4774660 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
21.33
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y5M15D
CY2022Q4 rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber1
3027441 shares
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
17.02
CY2023Q1 rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber1
3027441 shares
CY2023Q1 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
17.02
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2798566 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
15.75
CY2023Q1 rlmd Unrecognized Compensation Expense
UnrecognizedCompensationExpense
5.5
CY2023Q1 rlmd Intrinsic Value Of Warrant Vested And Outstanding
IntrinsicValueOfWarrantVestedAndOutstanding
0
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11354500 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
11930700 usd
CY2023Q1 us-gaap Direct Taxes And Licenses Costs
DirectTaxesAndLicensesCosts
180000 usd
CY2023Q1 rlmd Payment For License
PaymentForLicense
45000 usd
CY2022Q1 rlmd Payment For License
PaymentForLicense
45000 usd
CY2023Q1 rlmd Fee Amount
FeeAmount
12700000 usd
CY2023Q1 us-gaap Short Term Lease Payments
ShortTermLeasePayments
160000000 usd
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
11000 usd
CY2021Q3 rlmd Lease Period
LeasePeriod
P5M
CY2023Q1 us-gaap Lease Expiration Date1
LeaseExpirationDate1
2021-12-31
CY2022 us-gaap Payments For Rent
PaymentsForRent
9000 usd
CY2023Q1 us-gaap Payments For Rent
PaymentsForRent
15000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
51700 usd
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
19500 usd
CY2017Q2 us-gaap Direct Taxes And Licenses Costs
DirectTaxesAndLicensesCosts
7529 usd
CY2023Q1 us-gaap Other Assets
OtherAssets
493452 usd
CY2023Q1 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
397049 usd
CY2023Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0838 pure
CY2023Q1 us-gaap Sales Type Lease Selling Profit Loss
SalesTypeLeaseSellingProfitLoss
96403 usd
CY2022Q1 us-gaap Unearned Premiums
UnearnedPremiums
2300 usd
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001553643
CY2023Q1 us-gaap Description Of Defined Contribution Pension And Other Postretirement Plans
DescriptionOfDefinedContributionPensionAndOtherPostretirementPlans
The Company matches 100% of the first 3% of employee contributions, plus 50% of employee contributions that exceed 3% but do not exceed 5%.
CY2023Q1 rlmd Employee Contribution Expense
EmployeeContributionExpense
40400 usd
CY2022Q1 rlmd Employee Contribution Expense
EmployeeContributionExpense
31600 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
15000 shares
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
RELMADA THERAPEUTICS, INC.
CY2023Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
usd
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28392601 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30099203 shares
CY2023Q1 us-gaap Depreciation
Depreciation
usd
CY2022Q1 us-gaap Depreciation
Depreciation
usd
CY2023Q1 us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
usd
CY2022Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
usd
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
usd
CY2023Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
CY2023Q1 us-gaap Interest Paid
InterestPaid
usd
CY2022Q1 us-gaap Interest Paid
InterestPaid
usd
CY2023Q1 rlmd Aggregate Intrinsic Value Outstanding And Expected To Vest Granted1
AggregateIntrinsicValueOutstandingAndExpectedToVestGranted1
usd
CY2023Q1 rlmd Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited Weighted Average Remaining Contractual Term1
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedWeightedAverageRemainingContractualTerm1
CY2023Q1 rlmd Aggregate Intrinsic Value Outstanding And Expected To Vest Forfeited1
AggregateIntrinsicValueOutstandingAndExpectedToVestForfeited1
usd
CY2022 rlmd Weighted Average Remaining Contractual Term Years Cancelled
WeightedAverageRemainingContractualTermYearsCancelled
CY2022 rlmd Aggregate Intrinsic Value Cancelled
AggregateIntrinsicValueCancelled
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
CY2023Q1 us-gaap Unearned Premiums
UnearnedPremiums
usd
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31

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