$RNXT
RenovoRx, Inc.

2024 Q2 Form 10-Q Financial Statement

#000149315224018704 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 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 $1.492M $1.219M $1.923M
YoY Change 2.9% -36.61% 12.06%
% of Gross Profit
Research & Development $1.542M $1.257M $1.338M
YoY Change -19.9% -6.05% 3.8%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.034M $2.476M $3.261M
YoY Change -10.1% -24.07% 8.52%
Operating Profit -$3.034M -$2.476M -$3.261M
YoY Change -10.1% -24.07% 8.52%
Interest Expense $138.0K $37.00K $4.000K
YoY Change 176.0% 825.0% 300.0%
% of Operating Profit
Other Income/Expense, Net $645.0K $1.400M $4.000K
YoY Change -38.45% 34900.0% 300.0%
Pretax Income -$2.389M -$1.076M -$3.257M
YoY Change 2.66% -66.96% 8.46%
Income Tax
% Of Pretax Income
Net Earnings -$2.389M -$1.076M -$3.257M
YoY Change 2.66% -66.96% 8.46%
Net Earnings / Revenue
Basic Earnings Per Share -$0.10 -$0.07 -$0.36
Diluted Earnings Per Share -$0.10 -$0.07 -$0.36
COMMON SHARES
Basic Shares Outstanding 23.95M shares 16.87M shares 9.100M shares
Diluted Shares Outstanding 24.05M shares 14.95M shares 9.090M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.74M $4.389M $3.723M
YoY Change 97.21% 17.89% -71.63%
Cash & Equivalents $11.70M $4.400M $3.700M
Short-Term Investments $0.00
Other Short-Term Assets $262.0K $399.0K $838.0K
YoY Change -27.22% -52.39% 1.95%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $12.00M $4.788M $4.561M
YoY Change 90.12% 4.98% -67.29%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $12.00M $4.788M $4.561M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $12.00M $4.788M $4.561M
YoY Change 90.12% 4.98% -67.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $438.0K $356.0K $828.0K
YoY Change -49.77% -57.0% 13.58%
Accrued Expenses $873.0K $737.0K $477.0K
YoY Change 5.56% 54.51% -29.54%
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 $1.311M $1.093M $1.305M
YoY Change -22.84% -16.25% -7.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.421M $1.928M
YoY Change -58.54%
Total Long-Term Liabilities $1.421M $1.928M $0.00
YoY Change -58.54%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.311M $1.093M $1.305M
Total Long-Term Liabilities $1.421M $1.928M $0.00
Total Liabilities $2.732M $3.021M $1.305M
YoY Change -46.7% 131.49% -7.18%
SHAREHOLDERS EQUITY
Retained Earnings -$44.90M -$42.50M -$34.40M
YoY Change 22.01% 23.55%
Common Stock $2.000K $2.000K $37.69M
YoY Change -99.99% -99.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.272M $1.767M $3.256M
YoY Change
Total Liabilities & Shareholders Equity $12.00M $4.788M $4.561M
YoY Change 90.12% 4.98% -67.3%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$2.389M -$1.076M -$3.257M
YoY Change 2.66% -66.96% 8.46%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$2.297M -$2.204M -$2.706M
YoY Change -17.11% -18.55% 29.04%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.032M
YoY Change -100.0%
Cash From Investing Activities $2.032M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 9.650M $5.420M $6.000K
YoY Change 92.92% 90233.33% -76.92%
NET CHANGE
Cash From Operating Activities -2.297M -$2.204M -$2.706M
Cash From Investing Activities $2.032M
Cash From Financing Activities 9.650M $5.420M $6.000K
Net Change In Cash 7.353M $3.216M -$668.0K
YoY Change 229.58% -581.44% -67.75%
FREE CASH FLOW
Cash From Operating Activities -$2.297M -$2.204M -$2.706M
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_840_eus-gaap--UseOfEstimates_zZfDlJZUa3Nk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white"><b><i><span id="xdx_864_zmhgAD7h72Xj">Use of Estimates</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">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, income and expenses as well as the disclosure of contingent assets and liabilities, at the date of the financial statements during the reporting periods. In preparing these financial statements, management has made its best estimates and judgments of certain amounts included in the financial statements. Significant estimates and assumptions made in the accompanying financial statements include, but are not limited to, accruals of certain liabilities, including clinical trial accruals and other contingences, the valuation of financial instruments, the fair value of the Company’s common stock and the fair value of options granted under the Company’s equity incentive plan. On an ongoing basis, the Company evaluates its estimates, including those related to the fair values of assets, stock-based compensation, clinical trial accruals and other contingencies. Management bases its estimates on historical experience or on various other assumptions that it believes to be reasonable under the circumstances. Actual results could differ materially from these estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i> </i></span></p>
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CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
984000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1114384 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.20
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
38981 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.08
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
334371 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.97
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2601157 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.01
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y6M21D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
547000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1335269 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.09
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M10D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
393000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2601157 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
2.01
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y6M21D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
547000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
2000000.0 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y11M23D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
1.2376 pure
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14947500 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
14947500 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9089989 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0351 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0428 pure
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2024Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
423000 usd
CY2023Q1 us-gaap Compensation Expense Excluding Cost Of Good And Service Sold
CompensationExpenseExcludingCostOfGoodAndServiceSold
244000 usd
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
423000 usd
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
361000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
6681075 shares
CY2023Q4 RNXT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
5.44
CY2024Q1 RNXT Share Based Compensation Arrangements By Share Based Payment Award Non Options Grants In Period Weighted Average Contractual Term1
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageContractualTerm1
P3Y3M3D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
36350000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
13326429 shares
CY2024Q1 RNXT Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
3.22
CY2024Q1 RNXT Share Based Compensation Arrangements By Share Based Payment Award Non Options Grants In Period Weighted Average Contractual Term
ShareBasedCompensationArrangementsByShareBasedPaymentAwardNonOptionsGrantsInPeriodWeightedAverageContractualTerm
P3Y10M17D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Aggregate Intrinsic Value Outstanding
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding
42968000 usd
CY2024Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-1076000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-3257000 usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
9089989 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.07
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.07
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.36
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.36
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7309139 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1416884 shares

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R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
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R38.htm Edgar Link pending
R4.htm Edgar Link pending
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R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
rnxt-20240331.xsd Edgar Link pending
Show.js Edgar Link pending
rnxt-20240331_cal.xml Edgar Link unprocessable
rnxt-20240331_def.xml Edgar Link unprocessable
rnxt-20240331_lab.xml Edgar Link unprocessable
rnxt-20240331_pre.xml Edgar Link unprocessable
0001493152-24-018704-index-headers.html Edgar Link pending
0001493152-24-018704-index.html Edgar Link pending
0001493152-24-018704.txt Edgar Link pending
0001493152-24-018704-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
ex32-2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
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R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed