$RPHM
Reneo Pharmaceuticals Inc

2023 Q3 Form 10-Q Financial Statement

#000095017023041302 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.270M $6.639M $4.299M
YoY Change 86.31% 54.43% 45.78%
% of Gross Profit
Research & Development $13.62M $14.40M $8.132M
YoY Change 37.07% 77.08% 29.51%
% of Gross Profit
Depreciation & Amortization $50.00K $42.00K $22.00K
YoY Change 127.27% 90.91% 120.0%
% of Gross Profit
Operating Expenses $20.89M $21.04M $12.43M
YoY Change 50.92% 69.25% 34.71%
Operating Profit -$20.89M -$21.04M -$12.43M
YoY Change 50.92% 69.25% 34.71%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $1.692M $1.508M $119.0K
YoY Change 103.12% 1167.23% 891.67%
Pretax Income -$19.20M -$19.53M -$12.31M
YoY Change 47.61% 58.63% 33.59%
Income Tax
% Of Pretax Income
Net Earnings -$19.20M -$19.50M -$12.31M
YoY Change 47.61% 58.38% 33.59%
Net Earnings / Revenue
Basic Earnings Per Share -$0.57 -$0.65 -$0.50
Diluted Earnings Per Share -$0.57 -$0.65 -$503.3K
COMMON SHARES
Basic Shares Outstanding 33.80M 33.66M 24.46M
Diluted Shares Outstanding 33.81M 30.22M 24.46M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $125.6M $142.7M $126.9M
YoY Change 8.2% 12.48% -24.19%
Cash & Equivalents $11.74M $9.081M $118.3M
Short-Term Investments $113.9M $133.6M $8.588M
Other Short-Term Assets $3.200M $3.643M $5.159M
YoY Change -34.93% -29.39% 35.41%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $128.8M $146.3M $132.0M
YoY Change 6.42% 10.84% -22.86%
LONG-TERM ASSETS
Property, Plant & Equipment $529.0K $554.0K $1.519M
YoY Change 119.5% -63.53% 1687.06%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $81.00K $79.00K $78.00K
YoY Change 2.53% 1.28% 0.0%
Total Long-Term Assets $1.616M $1.719M $1.597M
YoY Change 7.3% 7.64% 879.75%
TOTAL ASSETS
Total Short-Term Assets $128.8M $146.3M $132.0M
Total Long-Term Assets $1.616M $1.719M $1.597M
Total Assets $130.4M $148.0M $133.6M
YoY Change 6.44% 10.8% -22.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.473M $1.828M $1.560M
YoY Change 12.97% 17.18% 259.45%
Accrued Expenses $10.77M $11.59M $6.775M
YoY Change 57.13% 71.1% 133.46%
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 $13.56M $13.74M $8.335M
YoY Change 43.52% 64.82% 149.85%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.900M $1.773M $1.116M
YoY Change 88.31% 58.87% 167.63%
Total Long-Term Liabilities $1.900M $1.773M $1.116M
YoY Change 88.31% 58.87% 167.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.56M $13.74M $8.335M
Total Long-Term Liabilities $1.900M $1.773M $1.116M
Total Liabilities $15.44M $15.51M $9.451M
YoY Change 47.66% 64.12% 151.83%
SHAREHOLDERS EQUITY
Retained Earnings -$190.5M -$171.3M
YoY Change 54.75%
Common Stock $3.000K $3.000K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $114.9M $132.5M $124.2M
YoY Change
Total Liabilities & Shareholders Equity $130.4M $148.0M $133.6M
YoY Change 6.44% 10.8% -22.01%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$19.20M -$19.50M -$12.31M
YoY Change 47.61% 58.38% 33.59%
Depreciation, Depletion And Amortization $50.00K $42.00K $22.00K
YoY Change 127.27% 90.91% 120.0%
Cash From Operating Activities -$18.77M -$16.11M -$11.96M
YoY Change 73.89% 34.78% 23.25%
INVESTING ACTIVITIES
Capital Expenditures $20.00K $5.000K -$24.00K
YoY Change -171.43% -120.83% 300.0%
Acquisitions
YoY Change
Other Investing Activities $21.27M -$69.01M $9.107M
YoY Change -146.84% -857.72% -133.74%
Cash From Investing Activities $21.25M -$69.01M $9.083M
YoY Change -146.77% -859.78% -133.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 170.0K 63.81M 43.00K
YoY Change 75.26% 148297.67% -99.95%
NET CHANGE
Cash From Operating Activities -18.77M -16.11M -11.96M
Cash From Investing Activities 21.25M -69.01M 9.083M
Cash From Financing Activities 170.0K 63.81M 43.00K
Net Change In Cash 2.650M -21.31M -2.830M
YoY Change -104.72% 653.14% -105.76%
FREE CASH FLOW
Cash From Operating Activities -$18.77M -$16.11M -$11.96M
Capital Expenditures $20.00K $5.000K -$24.00K
Free Cash Flow -$18.79M -$16.12M -$11.93M
YoY Change 74.53% 35.09% 23.07%

Facts In Submission

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us-gaap Capital Expenditures Incurred But Not Yet Paid
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10000
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us-gaap Net Cash Provided By Used In Operating Activities
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-25200000
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-171300000
CY2023Q2 rphm Cash And Cash Equivalents At Carrying Value And Short Term Investments
CashAndCashEquivalentsAtCarryingValueAndShortTermInvestments
142700000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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6365685
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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4685061
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
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0
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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133627000
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6000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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37000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
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81290000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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2000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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46000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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81246000
CY2023Q2 rphm Accrued Clinical And Regulatory Expenses
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6242000
CY2022Q4 rphm Accrued Clinical And Regulatory Expenses
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CY2022Q4 rphm Accrued Manufacturing Expense
AccruedManufacturingExpense
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CY2023Q2 rphm Accrued Compensation Expense
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CY2022Q4 rphm Accrued Compensation Expense
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807000
CY2023Q2 rphm Accrued Other
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1290000
CY2022Q4 rphm Accrued Other
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565000
CY2023Q2 us-gaap Accrued Liabilities Current
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11592000
CY2022Q4 us-gaap Accrued Liabilities Current
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4827000
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.05
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.05
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P3Y8M12D
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P4Y
us-gaap Operating Lease Payments
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142000
us-gaap Operating Lease Payments
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266000
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241000
us-gaap Operating Lease Expense
OperatingLeaseExpense
241000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
187000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
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381000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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381000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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343000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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34000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
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1326000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
111000
CY2023Q2 us-gaap Operating Lease Liability
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1215000
CY2023Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
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8455895
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5877745
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.47
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M12D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
907000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
382915
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
6.83
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
77812
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.97
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
181663
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.6
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6001185
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.62
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
14005000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
2692861
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
4.93
rphm Share Based Compensation Arrangement By Share Based Payment Award Options Vested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedWeightedAverageRemainingContractualTerm
P7Y1M6D
rphm Share Based Compensation Arrangement By Share Based Payment Award Options Vested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedIntrinsicValue
5566000
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3263418
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.92
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y2M12D
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
6509000
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
9900000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y7M6D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.038
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.03
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.038
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.023
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.884
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.844
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.872
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.849
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M18D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M24D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y10M24D
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1207000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1006000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2364000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2113000

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