$RNXT
RenovoRx, Inc.

2022 Q3 Form 10-Q Financial Statement

#000149315222022384 Filed on August 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 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 $1.315M $1.224M $1.716M
YoY Change 109.39% 270.91% 310.53%
% of Gross Profit
Research & Development $846.0K $1.390M $1.289M
YoY Change 10.3% 159.33% 102.99%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.161M $2.614M $3.005M
YoY Change 54.91% 201.85% 185.38%
Operating Profit -$2.161M -$2.614M -$3.005M
YoY Change 54.91% 201.85%
Interest Expense $22.00K $20.00K $1.000K
YoY Change -110.58% -105.04% -100.43%
% of Operating Profit
Other Income/Expense, Net $25.00K $20.00K $1.000K
YoY Change -85.29% -104.5% -120.0%
Pretax Income -$2.136M -$2.594M -$3.003M
YoY Change 41.36% 98.02% 161.59%
Income Tax
% Of Pretax Income
Net Earnings -$2.136M -$2.594M -$3.003M
YoY Change 41.36% 98.02% 161.59%
Net Earnings / Revenue
Basic Earnings Per Share -$0.24 -$0.29 -$0.33
Diluted Earnings Per Share -$235.6K -$286.4K -$333.9K
COMMON SHARES
Basic Shares Outstanding 9.067M shares 9.057M shares 8.992M shares
Diluted Shares Outstanding 9.068M shares 9.057M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.114M $10.77M $13.12M
YoY Change -54.22% 591.39% 1467.62%
Cash & Equivalents $3.093M $2.769M $13.12M
Short-Term Investments $5.021M $7.996M
Other Short-Term Assets $1.136M $478.0K $822.0K
YoY Change 158.77% 184.52% 608.62%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $9.250M $11.24M $13.94M
YoY Change -49.08% 551.77% 1363.06%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00 $3.000K
YoY Change -100.0% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $3.000K
YoY Change -100.0% -100.0% -99.08%
TOTAL ASSETS
Total Short-Term Assets $9.250M $11.24M $13.94M
Total Long-Term Assets $0.00 $0.00 $3.000K
Total Assets $9.250M $11.24M $13.95M
YoY Change -49.11% 419.55% 991.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $538.0K $473.0K $729.0K
YoY Change 304.51% 79.85% 54.45%
Accrued Expenses $564.0K $650.0K $677.0K
YoY Change 14.63% 48.4% 63.92%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.102M $1.123M $1.406M
YoY Change 76.32% -83.42% -69.36%
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 $1.102M $1.123M $1.406M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.102M $1.123M $1.406M
YoY Change 76.32% -83.42% -69.36%
SHAREHOLDERS EQUITY
Retained Earnings -$29.00M -$26.90M
YoY Change
Common Stock $37.15M $37.01M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.148M $10.12M $12.54M
YoY Change
Total Liabilities & Shareholders Equity $9.250M $11.24M $13.95M
YoY Change -49.11% 419.55% 991.24%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$2.136M -$2.594M -$3.003M
YoY Change 41.36% 98.02% 161.59%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$2.672M -$2.361M -$2.097M
YoY Change 138.78% 89.33% 111.39%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $2.992M -$8.000M
YoY Change
Cash From Investing Activities $2.992M -$8.000M
YoY Change 53233.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.000K 9.000K 26.00K
YoY Change -99.98% -99.55% -23.53%
NET CHANGE
Cash From Operating Activities -2.672M -2.361M -2.097M
Cash From Investing Activities 2.992M -8.000M
Cash From Financing Activities 4.000K 9.000K 26.00K
Net Change In Cash 324.0K -10.35M -2.071M
YoY Change -98.0% -1537.78% 116.18%
FREE CASH FLOW
Cash From Operating Activities -$2.672M -$2.361M -$2.097M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$2.672M -$2.361M
YoY Change 138.78% 91.64%

Facts In Submission

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CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1557000 usd
RNXT Derivative Liability In Financing Activities
DerivativeLiabilityInFinancingActivities
363000 usd
RNXT Noncash Debt Issuance Costs Convertible Notes
NoncashDebtIssuanceCostsConvertibleNotes
23000 usd
CY2021Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-5 reverse stock split
CY2022Q2 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
10800000 usd
us-gaap Net Income Loss
NetIncomeLoss
-5600000 usd
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-26900000 usd
CY2022Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
2700000 usd
CY2021Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
15000000.0 usd
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
413000 usd
CY2022Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
8000000 usd
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
4000 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
7996000 usd
CY2022Q2 RNXT Accrued Clinical Trials Current
AccruedClinicalTrialsCurrent
425000 usd
CY2021Q4 RNXT Accrued Clinical Trials Current
AccruedClinicalTrialsCurrent
358000 usd
CY2022Q2 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
188000 usd
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
33000 usd
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
37000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
22000 usd
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
650000 usd
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The Company leases its headquarters in Los Altos, California under a month-to-month operating lease agreement
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
18000 usd
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
13000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
36000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
24000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
926379 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.08
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y5M19D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2856000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
159041 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.17
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
129374 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.28
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
36185 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.63
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
919861 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.50
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M6D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
711000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
609432 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.39
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y11M15D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
695000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
919861 shares
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.50
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
711000 usd
CY2022Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
700000 usd
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y9M21D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.0154 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.0296 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.4200 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M3D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0193 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0195 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0072 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
169000 usd
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
7000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
337000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
15000 usd
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
169000 usd
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
7000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
337000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
15000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2786995 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
10.80
RNXT Share Based Compensation Arrangements By Share Based Payment Award Non Options Grants In Period Weighted Average Contractual Term1
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageContractualTerm1
P4Y8M1D
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
30100000 usd
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2786995 shares
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
10.80
RNXT Share Based Compensation Arrangements By Share Based Payment Award Non Options Grants In Period Weighted Average Contractual Term
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageContractualTerm
P4Y2M1D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
30100000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-2594000 usd
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-1310000 usd
us-gaap Net Income Loss
NetIncomeLoss
-5597000 usd
us-gaap Net Income Loss
NetIncomeLoss
-2458000 usd
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9057185 shares
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2284978 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9024973 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2263483 shares
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.29
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.62
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.09
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
494868 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4862602 shares

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rnxt-20220630_cal.xml Edgar Link unprocessable